PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2010 and 2009
(Expressed in thousands of rupiah, unless otherwise stated)
14. LOANS FROM BANKS AND FINANCING INSTITUTION (continued)
PT Bank Resona Perdania (Resona)
SCK obtained the following credit facilities from Resona:
a. Working capital credit facility with a maximum amount of Rp30,000,000 and a credit period of one
year. There was no outstanding drawdown from the facility as of December 31, 2010.
b. Investment credit facility with a maximum amount of Rp58,000,000 and a credit period of five
years starting from June 4, 2010 until August 19, 2015. The outstanding loan balance as of
December 31, 2010 amounted to Rp30,000,000.
The above loan is collateralized by undeveloped land (Note 10). The loan bears interest at annual
rates ranging from 10.50% to 10.60% in 2010.
In July 2006, the Company obtained a non-revolving credit facility from Resona with a maximum
amount of US$7,000,000 which was fully drawn as of December 31, 2006. The loan is payable in
quarterly installments starting from June 30, 2007 until June 30, 2011 and is collateralized by
investment properties (Note 12). The outstanding loan balance as of December 31, 2010 and 2009
amounted to US$820,000 and US$2,468,000, respectively, and bears interest at the annual rate of
2.30% above Singapore Interbank Offered Rate (SIBOR) in 2007, which was amended to 2.30%
above Cost of Loanable Fund (COLF) starting October 2008.
In July 2006, the Company obtained another revolving credit facility from Resona with a maximum
amount of US$3,000,000. The loan is due on December 17, 2011 and is collateralized by investment
properties (Note 12). The outstanding loan balance as of December 31, 2010 and 2009 amounted to
US$3,000,000 each and bears interest at the annual rate of 2.25% above SIBOR in 2007, which was
amended to 2.25% above COLF starting October 2008.
PT Bank Mandiri (Persero) Tbk (Mandiri)
In 2010, the Company obtained several facilities from Mandiri as follows:
a. Special purpose credit facility with a maximum amount of Rp200,000,000 which was partially
drawn in 2010 and is payable in quarterly installments starting from September 23, 2011 until
December 23, 2015. The outstanding loan balance as of December 31, 2010 amounted to
Rp11,500,000.
b. Overdraft facility with a maximum amount of Rp50,000,000 with credit period of one year. There
was no outstanding drawdown from the facility as of December 31, 2010.
The above loans from Mandiri are collateralized by undeveloped land (Note 10). The loans bear
interest at the annual rate of 10.5% in 2010.
PT Bank Dipo Internasional (Dipo)
The loan from Dipo represents drawdowns from the installment credit facility obtained by the Company
which were used to finance the acquisition of vehicles. The loan is payable in monthly installments
starting from July 15, 2003 until May 26, 2011 and is collateralized by the vehicles purchased (Note
11). The outstanding loan balance as of December 31, 2010 and 2009 amounted to Rp376,579 and
Rp1,671,866, respectively, and bears interest at annual rates ranging from 6.00% to 16.76% in 2010
and 2009.
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