PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
39. LITIGATIONS (continued)
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)
d. Kiswantara Partadiredja (defendant) and BMS (co-defendant II), vs. Emma Hernasari (plaintiff) in
relation to a dispute between the plaintiff and defendant relating to a sale and purchase of a
property at Gading Park View. On February 4, 2009, the North Jakarta District Court approved the
plaintiff’s claim. On April 29, 2009, the defendants filed an appeal to the Jakarta High Court. On
November 10, 2010, the Jakarta High Court rejected the defendant’s appeal and commanded
BMS to sign a sale and purchase agreement. Then, defendant filed an appeal to the Supreme
Court through the North Jakarta High Court (Note 42a).
e. The Company (defendant) and Jakarta Provincial Government through the Mayor of North Jakarta
(co-defendant I) vs. E. Atika dkk (plaintiff) concerning a claim over approximately 20,283 square
meters of land located in Pegangsaan Dua. As of March 16, 2011, a decision has not been made
yet by the North Jakarta District Court.
f. The Company (defendant) and the Government of the Republic of Indonesia through the Minister
of Internal Affairs, Governor of DKI Jakarta and Supervision and Control of Agency Heads of
Jakarta and North Jakarta (defendant II) vs Susanto Arfiana Oen (plaintiff). In this case, the plaintiff
claimed 44 hectares of land of Grand Orchard, located in Pegangsaan Dua. As of March 16, 2011,
a decision has not been made yet by the East Jakarta District Court.
The Company’s management believe that the above litigations will not have a material effect and will
not influence the going concern status of the Company and that these can be settled in accordance
with the existing laws.
40. RECENT DEVELOPMENTS AFFECTING ACCOUNTING STANDARDS AND INTERPRETATIONS
The following summarizes the revised and new Statements of Financial Accounting Standards
(PSAKs) and interpretations (ISAKs) which have been issued by the Indonesian Financial Accounting
Standards Board (DSAK) but are not yet effective in year 2010:
Effective for financial statements covering the periods beginning on or after January 1, 2011:
a. PSAK No. 1 (Revised 2009), “Presentation of Financial Statements”, prescribes the basis for
presentation of general-purpose financial statements to ensure comparability both with an entity's
financial statements of previous periods and with the financial statements of other entities.
b. PSAK No. 2 (Revised 2009), “Statement of Cash Flows”, requires the provision of information
about the historical changes in cash and cash equivalents by means of a statement of cash flows
which classifies cash flows during the period into operating, investing and financing activities.
c. PSAK No. 3 (Revised 2010), “Interim Financial Reporting”, prescribes the minimum content of an
interim financial report and the principles for recognition and measurement in financial statements
presented for an interim period.
d. PSAK No. 4 (Revised 2009), “Consolidated and Separate Financial Statements”, applies to the
preparation and presentation of consolidated financial statements for a group of entities under the
control of a parent and in accounting for investments in subsidiaries, jointly controlled entities and
associates when separate financial statements are presented as additional information.
e. PSAK No. 5 (Revised 2009), “Operating Segments”, requires segment information be disclosed to
enable users of financial statements to evaluate the nature and financial effects of the business
activities in which the entity engages and the economic environments in which it operates.
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