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)
34. FINANCIAL ASSETS AND LIABILITIES (continued)
Financial Assets (continued)
60
Carrying Values Fair Values
Loans and receivables (continued)
Other receivables 121,955,210 121,955,210
Due from related parties 5,646,573 5,646,573
Other assets 111,728,828 111,728,828
Total 1,453,175,416 1,453,175,416
Financial Liabilities
Loans and borrowings
Loans from banks and financing institution 475,395,230 472,805,160
Bonds payable and sukuk ijarah - net 297,652,024 219,765,902
Trade payables to third parties 181,664,820 181,664,820
Other payables 25,790,319 25,790,319
Due to related parties 203,202,788 203,202,788
Accrued expenses 157,753,675 157,753,675
Deposits received-customer deposits 72,831,774 72,831,774
Fair value through profit and loss
Derivative liability 201,204 201,204
Total 1,414,491,834 1,334,015,642
Fair value is defined as the amount at which the instrument could be exchanged in a current
transaction between knowledgeable willing parties in an arm's length transaction, other than in a forced
or liquidation sale. Fair values are obtained from quoted market prices, discounted cash flows models
and option pricing models, as appropriate.
a. Short-term financial assets and liabilities
Short-term financial instruments with remaining maturities of one year or less (cash and cash
equivalents, trade receivables from third parties, other receivables, due from related parties, trade
payables to third parties, other payables, due to related parties, deposits received and accrued
expenses) approximate their carrying amounts due to their short-term nature.
b. Long-term financial assets and liabilities
Long-term financial instruments consist of long-term debts. The fair value of these financial
instruments cannot be measured reliably since they have no quoted prices, therefore, they are
measured at cost, except for other receivables from Mantolli (Note 6) and deposits received from
third parties (Note 21), which are measured at fair value; loans from banks and financing institution
and bonds payable and sukuk ijarah are measured at amortized costs.
Financial instruments presented in the consolidated balance sheets are carried at their fair values,
otherwise, they are presented at carrying values as either these are reasonable approximation of
fair values or their fair values cannot be reliably measured. The following methods and
assumptions are used to estimate the fair value of each class of financial instruments: