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Laporan Tahunan 2013 Annual Report

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#3 EDISI

2013 Annual Report

SOLID FOUNDATION FOR GROWTH | DASAR KOKOH UNTUK PERTUMBUHAN

Laporan Tahunan 2013

PT Buana Listya Tama Tbk

#3rd EDITION

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+106° 49’ 40.1766”
 ANNUAL REPORT 2013

Solid foundation for growth

To start a new journey and face future challenges,

one must be prepared and build on a solid foundation.
As a reputable domestic shipping firm stuffed with
professionals offering superior service quality and
buttressed by commitment and hard work,
PT Buana Listya Tama Tbk is certain to overcome
the stormy seas as the Company embarks on a new
journey towards a brighter future

Solid foundation for growth

1
PT Buana Listya Tama Tbk
2013 Annual Report
 Solid foundation
for growth
04 14

04 31

CONTENT
04 28 46 52
Solid Foundation For Growth

2013 Performance Company Profile Human Resources Management

Discussion and
Analysis

66 84 89 91
2
PT Buana Listya Tama Tbk

Good Corporate Corporate Social 2013 Annual Report Consolidated Financial

Governance Responsibility Responsibility Statements
Statement
2013 Annual Report
 32
71

PT Buana Listya Tama Tbk

3 Solid Foundation For Growth
2013 Annual Report
 01
2013 performance

Financial Highlights 06

Significant Events 2013 08

Share Highlights 10

Composition of Shareholders 10

Chronology of Shares Listing 11

Warrant Information 11

Awards and Certifications 12

Report from the Board of 14

Commissioners

Report from the Board of Directors 18

Board of Commissioners’ Profile 22

Solid
SolidFoundation

Board of Directors’ Profile 25

foundationFor
for Growth
growth

Despite the fact that The Company continuously increases

the global economy the efficiency and effectiveness of its

had yet to recover operations, and maximizes existing

4

and amid the domestic business opportunities.

economic slowdown,
the Company managed With solid management and
PT Buana Listya Tama Tbk

to book USD47.40 competent human resources, the

million in revenue. Company is ready to improve its

performance in the future.
2013 Annual Report
PT Buana Listya Tama Tbk
5 Solid foundation
Foundation for
For growth
Growth
2013 Annual Report
 2013 Performance Company Profile Human Resources

Financial Highlights
Income Statement
In USD numerical notations, unless stated otherwise

Description Year
2011 2012 2013

Revenue 104,633,750 69,789,953 47,401,704

Gross Profit 21,763,801 13,694,859 7,410,045

EBITDA 44,261,201 18,960,613 12,503,252

Net Profit (Loss) (104,387,114) 3,886,960 (41,673,214)

Profit (Loss) Attributable to Owners (104,387,114) 3,886,960 (41,673,214)

of the Company and
Non-Controlling Interests

Comprehensive Profit (Loss) (146,482,470) (7,784,527) (43,130,203)

Total Comprehensive Attributable to (146,482,470) (7,784,527) (43,130,203)

Owners of the Company and
Non Controlling Interests

Earning (Loss) per Share (0.0070) 0.0002 (0,0024)

Balance Sheet
In USD numerical notations, unless stated otherwise

Description Year
2011 2012 2013

Net Working Capital 36,680,180 5,484,077 25,721,895

Total Assets 259,687,928 334,388,330 256,142,848

Solid
SolidFoundation

Total Liabilities 107,085,103 189,673,462 154,557,918

foundationFor

Total Equity 152,602,825 144,714,868 101,584,930

for Growth

Ratios
growth

In USD numerical notations, unless stated otherwise

Description Year
2011 2012 2013
6

Net Profit/Total Assets (%) (40.20) 1.16 (16.27)

Net Profit/Equity (%) (68.40) 2.69 (41.02)

PT Buana Listya Tama Tbk

Net Profit/Revenue (%) (99.76) 5.57 (87.92)

Current Ratio (%) 157 106 186

2013 Annual Report

Total Liabilities/Equity (%) 70.17 131.07 152.15

Total Liabilities/Total Assets (%) 41.24 56.72 60.34

Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

104.633.750

69.789.953
47.401.704

Revenues

2011 2012 2013

21.763.801

13.694.859

Gross 7.410.045

Profit

2011 2012 2013

3.886.960

Net
Profit (Loss)
(41.673.214)

Growth
For growth
(104.387.114)

Foundation for
2011 2012 2013
Solid foundation

334.388.330
7

259.687.928
256.142.848
Total
Asset
PT Buana Listya Tama Tbk
2013 Annual Report

2011 2012 2013

 2013 Performance Company Profile Human Resources

Significant Events 2013

JAN - Apr
February 27th, 2013 March 14th, 2013 April 10th, 2013
The Company held BLTA Creditors agreed to PT Karya Bakti Adil received ISO
Extraordinary General Meeting restructuring plan. However, 9001:2008 certification from
of Shareholders at Novotel this has no impact on the Nippon Kaiji Kyokai.
Gajah Mada Jakarta Hotel to Company as the Company
accommodate changes within has deconsolidated from BLT
the Company’s management. following BLT’s decreasing
shares in the Company in 2013.

March 1st, 2013 April 18th, 2013

The Company established The Company received ISO
Audit Committee to enhance 9001:2008, ISO 14001:2004
the implementation of good and OHSAS 18001:2007
corporate governance. certifications from Nippon Kaiji
Kyokai.
Solid
SolidFoundation
8 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

JUN - JUL DEC

June 28th, 2013 July 4th, 2013 December 27th, 2013
Indonesia Stock Exchange
lifted the suspension on the
Company’s share trading.

The Company held Annual

General Meeting of
Shareholders for 2011 and 2012
fiscal years as well as Public
Expose at JS Luwansa Hotel and
Convention Center.
The Company relocated
its headquarters from its
previous location at Wisma
BSG on Abdul Muis Road
No. 40, Jakarta, to Danatama
Square 2 Mega Kuningan
Timur Road, Blok C.6 Kav.

Growth
For growth
12A, Mega Kuningan Area,
Jakarta, in order to anticipate Foundation for
Solid foundation
future business growth and
activities.
9
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Share Highlights

Quaterly Share Performance

Quarter Lowest Highest Closing Average Daily Trading Market Number of

Volume Capitalization Shares

IDR IDR IDR Shares IDR Shares

2013

Q1 53 53 53 n.a 935,450,000,000 17,650,000,000

Q2 53 53 53 n.a 935,450,000,000 17,650,000,000

Q3* 50 53 60 510,615 1,059,000,000,000 17,650,000,000

Q4** 50 50 50 32,042 882,500,000,000 17,650,000,000

2012

Q1 67 102 69 30,676,611.11 1,217,850,000,000 17,650,000,000

Q2 50 95 53 30,475,322.58 935,450,000,000 17,650,000,000
Q3*** 53 53 53 n.a 935,450,000,000 17,650,000,000
Q4 53 53 53 n.a 935,450,000,000 17,650,000,000

* Trading suspension was revoked at July 4, 2013

** As of last trading day
*** Since July 2012, Company’s shares trading was suspended

Composition of Shareholders
Share Ownership Composition and Ownership more than 5%
Solid
SolidFoundation

19.62%
foundationFor

BERLIAN LAJU TANKER TBK (BLT)*

32.86%
for Growth

KIDSON PTE LTD-841864000

growth

PT SOUTHEAST CAPITAL INVESTMENT

10.30%
PT GOLDSACHS CAPITAL INVESTMENT
PT BENAKAT PETROLEUM ENERGY TBK
10

PUBLIC
PT Buana Listya Tama Tbk

11.43%
2013 Annual Report

14.79%
11%

* BLT pledged its shares to Merrill Lynch Limited and Orchard Centar Master Limited (MLOR), in which PKPU (Suspension of a Debt Payment Obligation)
BLT stated that MLOR is granted full rights over BLT shares.
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Chronology
of Shares Listing

Chronology of Shares Listing Statement as per December 31st, 2011 and 2012 in accordance
with the prescribed time limits considering BLT as parent
On May 23rd, 2011, the Company conducted initial public
company which still consolidated BULL. BLT which was in debt
offering (IPO) by issuing to the public 6,650,000 thousand
standstill and PKPU, affected BULL’s own financial reporting.
shares or 37.677% from the issued and fully paid capital after
However, BULL has deconsolidated with BLT’s much reduced
the IPO at offer price of Rp155 per share with 17,650,000,000
shareholding in 2013 and thus will not be affected by BLT’s
outstanding shares, and was approved by The Indonesian
processes.
Capital Markets and Financial Institutions Supervisory Agency
(Bapepam-LK) in its Decree No. S-5214/ BL/2011 dated May
In order the lift the suspension, the Company addressed the
10th, 2011.
issue and complied with regulations set by the regulator,
including the completion of Consolidated Financial Statement
Name of Stock Exchange Where the as of December 31st, 2011 and 2012 along with the Company’s
Company’s Shares are Listed 2011 and 2012 Annual Reports.
Indonesia Stock Exchange
The suspension was lifted on July 4th, 2013, following the
Share Suspension publication of the Consolidated Financial Statements as per
December 31st, 2011 and 2012 together with the 2011 and
The Company’s shares were suspended by the Indonesia
2012 Annual Reports. Since the aforementioned date, the
Stock Exchange since July 2nd, 2012. This was due to the
Company’s shares have been traded properly.
fact that Company could not deliver Consolidated Financial

warRanT INFORMATION
Warrant Ownership Composition and Ownership more than 5%

Growth
For growth
10.15%
48.53%
Foundation for
Solid foundation

8.27% CREDIT SUISSE SECURITIES (USA) LLC-CLIENT-95224000

PT ARJUNA PERKASA CARPEDIA
MARTIN UNSULANGI HENG

6.16% PT GEO LINK INDONESIA

11

THE NT TST CO S/A MONTPELIER GLOBAL FUNDS LIMITED

UBS AG LONDON BRANCH A/C CLIENT-2157234000
5.27%
PUBLIC
PT Buana Listya Tama Tbk

5.78%
2013 Annual Report

5.83%
 2013 Performance Company Profile Human Resources

Awards
and Certifications

OHSAS 18001:2007 ISO 14001:2004 ISO 9001:2008

certification issued by certification issued by certification issued by
Nippon Kaiji Kyokai Nippon Kaiji Kyokai Nippon Kaiji Kyokai
Solid
SolidFoundation
foundationFor

PT Buana Listya Tama’s shipping business, which covers domestic and international
waters, implements working systems and complies with operational and
for Growth
growth

quality standards of international caliber.

12

Today, the Company is equipped with ISO:9001:2008, ISO:140001:2004 and

OHSAS:18001:2007 certifications to ensure effective operation and to provide the highest
PT Buana Listya Tama Tbk

level of customers satisfaction inside and outside of the organization.

2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

ISO 9001:2008 Certificate of Seafarer

Recruitment and Placement
Statement of Compliance with the
Maritime Labour Convention, 2006
certification issued by Service Providers certification issued by
Nippon Kaiji Kyokai certification issued by
Nippon Kaiji Kyokai
Nippon Kaiji Kyokai

Growth
For growth
Foundation for
The Company also upholds similar standard for the operational activities of its subsidiary,
Solid foundation

PT Karya Bakti Adil. This commitment is materialized through ISO 9001:2008 certification
and has met the requirements of both the Seafarer Recruitment and Placement Service
Providers (SRPS) and Maritime Labour Convention 2006 as certified by Nippon Kaiji
13

Kyokai.
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Report from the Board of

Commissioners
Solid
SolidFoundation
foundationFor
for Growth
growth

Adhi Utomo Jusman

President Commissioner
14
PT Buana Listya Tama Tbk
2013 Annual Report
Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Indonesia’s
economic downturn
certainly had
significant impact
on the Company’s
performance.

The Board of Commissioners

therefore encourages the Board of
Directors and the management to
continuously increase the efficiency
and effectiveness of the Company’s
operations, and maximize existing
business opportunities.

Foundation for
Solid foundation
15 Growth
For growth

We are positive that the

PT Buana Listya Tama Tbk

Company will be able to

2013 Annual Report

provide better results in 2014.

 2013 Performance Company Profile Human Resources

The global economy had yet to recover in

2013 as signified by the condition in China
and the United States. This trend also affected
domestic economy that only grew 5.78%,
lower than domestic growth in 2012 that
reached 6.2%.

Such condition had significant impact on the The Board of Commissioners also noted that
Company’s performance. The Company posted throughout 2013, the Company continuously
USD41,673,214 net loss in 2013, down by implemented Good Corporate Governance
1,172.13% from USD3,886,960 in 2012. The Board (GCG). Compliance with applicable regulations,
of Commissioners, however, understands the accountability, and information disclosure were
challenges and obstacles faced by the Company. the main elements behind the Company’s every
We therefore encourage the Board of Directors decision and policy.
and the management to continuously increase
the efficiency and effectiveness of the Company’s The Board Commissioners also actively
operations, and maximize existing business participated in evaluating GCG implementation
opportunities. We are positive that the Company through Audit Committee. Throughout 2013,
will be able to provide better results in 2014. the Audit Committee intensively monitored the
Company’s operational activities by collaborating
Solid
SolidFoundation

Moreover, the Board of Commissioners urges with other corporate instruments, particularly
foundationFor

the Board of Directors to focus on the Company’s the Internal and External Auditors. This synergy
human resources development. Recruiting, effectively ensured the Company’s compliance
developing and retaining new or potential with applicable rules and regulations as well as
for Growth

talents must be conducted continuously to meet timely reporting, particularly in terms of financial
growth

the Company’s strategic needs for competent, reports.

professional, and loyal sailors and employees.
16

Furthermore, efforts to maintain employees’ As part of the Company’s regeneration, the

satisfaction through competitive remuneration, Board of Commissioners’ composition changed
and to instill motivation through performance
PT Buana Listya Tama Tbk

management program must also be expanded

upon.
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

in 2013. We would like to extend our gratitude

to Widihardja Tanudjaja for his dedication
and contribution during his term as President
Commissioner. He is replaced by Adhi Utomo
Jusman that started his role as President
Commissioner in June 2013. As such, the current
Board of Commissioners comprised of Adhi
Utomo Jusman as President Commissioner,
Michael Murni Gunawan as Commissioner, and
Iwan Sutadi as Independent Commissioner.

Finally, the Board of Commissioners would like

to extend our gratitude to the Board of Directors
and all employees for their efforts during the year
2013 and to all shareholders and stakeholders for
their support and trust that enable the Company
to continue to improve its performance well into
the future.

Growth
For growth
Adhi Utomo Jusman Foundation for
Solid foundation

President Commissioners
17
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Report from the Board of

Directors
Solid
SolidFoundation
foundationFor
for Growth
growth

Wong Kevin
President Director
18
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Year 2012 was

marked by sluggish
economic growth
and geopolitical
turmoil.

Under such condition, the

Company booked total revenue
of USD47.40 million in 2013.

Foundation for
Solid foundation
19 Growth
For growth

During 2013, the Company owned 2 chemical tankers. In addition,

and operated 14 tankers with the Company also improved the
PT Buana Listya Tama Tbk

total tonnage capacity of 301,413 efficiency of its fleet by selling

2013 Annual Report

DWT comprised of 5 oil tankers several laid up vessels.

and 1 FPSO, 6 gas tankers, and
 2013 Performance Company Profile Human Resources

The global economy had yet to recover in 2013 as signified by the

condition in China and the United States. This trend also affected
domestic economy that only grew 5.7%, lower than domestic
growth in 2012 that reached 6.2%.

Under such condition, the Company booked This declining revenue was mainly influenced by
a total revenue of USD47.40 million in 2013, the lack of funding to dock or replace the laid up
down by 32.08% from USD69.78 million in 2012. ships with newer units.
The decline was caused by decreasing revenue
from oil tankers and FPSO, gas tankers, and Moreover, the cancellation of FSPO Brotojoyo
chemical tankers by 55.05%, 3.89%, and 14.85% contract also adversely affected the Company’s
respectively. Other income also dropped by revenue. The aforementioned cancellation was
14.44%. due to technical failure in one of the main pumps
in Kangean. This unfortunate situation led to
production decline and drove them to declare
Oil tankers and FPSO force majeure and cancel the contract.

Oil tankers and FPSO contributed 35.21% to the On the other hand, the Company’s direct costs
total revenue in 2013. went down from USD56.09 million in 2012 to
USD39.99 million in 2013 following the sales of
the Company’s several lay-up vessels.
Gas Tankers
Moreover, Human Resources (HR) development
Gas tankers contributed 53.75% to the total was not only focused on quantity, but also
revenue in 2013. quality and competency of each individual. In
order to meet those aforementioned goals, in
2013 the Company executed various programs
Chemical Tankers set in the previous year, and introduced new HR
development programs and initiatives as the
Chemical tankers contributed 9.50% to the total
Solid

guidelines for HR development in the future.

SolidFoundation

revenue in 2013.
20 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

These development and preparation of potential the current Board of Directors comprised of Wong
leaders remain the Company’s main focus in Kevin as President Director, Henrianto Kuswendi
anticipating business challenges in the future. and Vicky Ganda Saputra as Directors, as well as
Rizal as Unaffiliated Director.
Furthermore, the Company also implemented
good corporate governance practices throughout Last but not least, the Board of Directors
2013. Under the guidance of the Board of would like to extend our gratitude to the Board
Commissioners, the Board of Directors and of Commissioners for their guidance, to all
the management ensured compliance with employees for their hard work during the year
applicable rules and regulations. As check and 2013, and to all shareholders and stakeholders
recheck mechanism, all functions of internal for their support and trust that enable the
auditors, external auditors, and Audit Committee Company to achieve excellent results and develop
continuously work together to ensure effective its potential and improve its performance even
good corporate governance by ensuring further in the upcoming years.
transparency, accountability, independence,
fairness and responsibility in each organizational
process.
Wong Kevin
As part of the effort to strengthen the leadership
team in order to support the Company’s strategic
growth plans, the composition of the Board of
Directors was changed in 2013. We would like to
extend our gratitude to M. Suluhuddin Noor for
his dedication and contribution during his term as
President Director. He is replaced by Wong Kevin

Growth
For growth
who was appointed as President Director in June President Director
2013. We also would like to extend our gratitude
Foundation for
to Siana Anggraeni Surya for her dedication and
Solid foundation

contribution during her term as Director. As such,

21
PT Buana Listya Tama Tbk
2013 Annual Report
Human Resources

Commissioners’ Profile
Company Profile

Direksi
Dewanof
2013 Performance

Board
PT Buana Listya Tama Tbk
Solid
Dasar Foundation
Kokoh For Growth
Untuk Pertumbuhan 22
Laporan
2013 Tahunan
Annual Report
2013
Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Adhi Utomo Jusman

President Commissioner

Indonesian citizen, 42 years old.

Born in Jakarta on August 3, 1971. He earned his Bachelor of Business Administration
from the University of Southern California, USA in 1990. He is appointed as President
Commissioner of the Company in accordance with the decision of the Annual GMS
held on June, 2013. Previously, he served as Finance Director of PT Rajawali Fishing
Industries (2000-2002), President Director of PT Batam Dwi Karya (2005-2007),
Managing Director at PT Pearl Shine International Limited (2007-2008), Commissioner
of PT Barata Nusantara Prima (2007-2009), Director of PT Kertas Basuki Rachmat
Indonesia Tbk (2008-2009), Director of PT Benakat Barat Petroleum (2010),
Director of PT Benakat Integra Tbk (2011), as well as the Commissioner of
PT Elnusa Tbk (2013).

Michael Murni Gunawan

Growth
For growth
Commissioner
Foundation for
Solid foundation
Indonesian citizen, 52 years old.
Born in Samarinda on March 27, 1962. Graduated with Bachelor Degree in
accounting at Airlangga University in 1985 and a MBA at the University of San
Diego in 1996. Various important positions ever and is being held
include Assistant Accounting Manager Daya Sakti Timber
Group (1986-1991), Manager of Technology Information
23

System BSG Corporation (1996-1999), General Manager of

the Administration Division of BLTA (January 1999-June 1999),
Director of BLTA (1999-2014). Appointed as Commissioner of
PT Buana Listya Tama Tbk

the Company since 2010.

2013 Annual Report
 2013 Performance Company Profile Human Resources

Iwan Sutadi
Independent Commissioner

Indonesian citizen, 43 years old.

Born in Jakarta, July 13, 1970. He holds a Bachelor in Economics from the
Atmajaya University in 1996. Various positions that have and are being held
include Senior Auditor at Arthur Andersen - Prasetio Utomo & Co. (1997 -
2001), Accounting Manager at PT Siwani Trimitra Tbk and PT Siwani Makmur
Tbk (2001 - 2004), Accounting Department Head (2004 – 2005) and Internal
Audit Head (2006 – 2008) in ADR Group of Companies, Accounting Manager
at PT Vayatour and PT Anta Express Tour and Travel Service Tbk (2009) and
Accounting and Finance Manager at PT AM Texas Resources (2011 - present).
Appointed as Independent Commissioner since February 2013.
Dasar
24 Solid
Kokoh
Foundation
Untuk Pertumbuhan
For Growth
PT Buana Listya Tama Tbk
Laporan
2013 Tahunan
Annual Report
2013
Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Board of
Directors’ Profile

ForPertumbuhan
Kokoh Untuk
DasarFoundation Growth

1. Wong Kevin
Solid

President Director
4
2
2. Rizal
25

Unaffiliated Director
1
3
3. Vicky Ganda Saputra
PT Buana Listya Tama Tbk

Director
2013

4. Henrianto Kuswendi
Report

Director
Laporan
2013 Tahunan
Annual
 2013 Performance Company Profile Human Resources

Wong Kevin
President Director

Indonesian citizen, 45 years old.

Born in Hong Kong, on December 11, 1968. Graduated with Bachelor of Business
Administration from Lewis and Clark College in 1989 and also bachelor degree
in mechanical engineering from Columbia University in 1991. Various positions
held include Assistant Manager in Citibank, N.A. (1992-1994), Associate PT
Bahana Pembinaan Usaha Indonesia (1994-1995), Associate Director Pan Union
Co, Ltd (1995-1996), Corporate Secretary of PT Berlian Laju Tanker Tbk (1996-
2014), Director of PT Berlian Laju Tanker Tbk (1999-2014). He has served as
a Director of the Company since 2010 and after approval from Shareholders in
Annual General Meeting of Shareholder on June 28, 2013, as President Director of
the Company.
Dasar

Henrianto Kuswendi
Solid
Kokoh

Director
Foundation
Untuk Pertumbuhan

Indonesian citizen, 52 years old.

Born in Bandung on September, 1961. Passed management degree from the
For Growth

University of Padjadjaran Bandung in 1985. Various important position ever and

are being held include Marketing Manager of BLTA (1990-1994), Assistant
General Manager of Commercial Division BLTA (1994-1997), General
Manager of Commercial Division BLTA (1997-June 1999), Director
26

of BLTA (1999-present), President Director of PT Pearl Maritime

(November 2011-present), President Director of PT Ruby Maritime
(November 2011-present), and the President Director of PT Sapphire
PT Buana Listya Tama Tbk

Maritime (November 2011-present). He has served as a Director of the

Laporan

Company since 2010 and from February 2013 taking position as Director
2013 Tahunan

of the Company.
Annual Report
2013
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Vicky Ganda Saputra

Director

Indonesian citizen, 36 years old.

Born in Bandung, February 11, 1978. Earned a Bachelor in Economics from
Institut Bisnis Indonesia in 2000 and has a license as Deputy Underwriter and
Investment Manager from Bapepam-LK since 2001. Various positions that have
and are being held, among others, Financial Advisor at Alphabeta Consulting
(1999-2000), various positions at PT Danatama Makmur as Investment Bank
Manager (2000-2003), Vice President of Investment Bank (2003-2007), Executive
Director of Investment Bank (2007-February 2013), as well as Director & CEO
of Papillon Media Group, an integrated business group engaged in the content
marketing platform (2011-present). Served as Director and Corporate
Secretary since February 2013.

Rizal
Unaffiliated Director

ForPertumbuhan
Growth
Indonesian citizen, 39 years old.
Born in Jakarta on May 27, 1975. Graduated with Bachelor of Economics in
Accounting from Trisakti University in 1998. Various important position Kokoh Untuk
DasarFoundation

ever and is being held include Manager of PT Era Mitra Sarana (1998-2005),
President Director of PT Amarte Permata Lima (2005-2006),
Director of Finance Escort Rent Car (2006-2010), and Director
Solid

of PT Altro Abirama (2014). He is Unaffiliated Director of

the Company since 2010 and responsible in Health, Safety &
Environment (HSE) and Corporate.
27
PT Buana Listya Tama Tbk
Annual
Laporan
2013 2013
Report
Tahunan
 02
Company Profile

Vision, Mission, 30
and Corporate Values

Company in Brief 31

Milestones 32

Core Business 34

Organization Structure 36

Corporate Information And 38

Capital Market Supporting
Institutions & Professionals
Dasar

Shipping Operation Route 40

Solid
Kokoh
Foundation

Subsidiaries 42
Untuk Pertumbuhan
For Growth

Today, the Company owns various types of oil and gas

tankers to provide the best option for its customers.
28

The Company also continuously expands its business

and enters new segments, such as FPSO (Floating,
PT Buana Listya Tama Tbk

Production, Storage and Offloading) and chemical

tanker segments.
Laporan
2013 Tahunan
Annual Report
2013
 ForPertumbuhan
Kokoh Untuk
DasarFoundation
Solid Growth

Adhi Utomo Jusman Henrianto Kuswendi MS Hidayat

President Commissioner Commercial Director Industry Minister
29

“On its eighth anniversary, PT Buana Listya PT Buana Listya Tama Tbk is proud to be the “Prior to Presidential Instruction
Tama Tbk has become the shipping industry’s only domestic shipping company that owns No. 5/2005 on Domestic Shipping Industry
benchmark in Indonesian waters. Let us strive and operates FPSO vessels. We are also the Empowerment, the number of Indonesian-
PT Buana Listya Tama Tbk

to realize an even better performance in the first domestic shipping company that owns flagged vessels was around 6,000 units and
coming years.” and operates VLGCs (Very Large Gas Carriers) now in 2013, the number has increased by
2013

in Indonesia.” 5,500 to 11,500 units.”

Annual
Laporan
2013 Report
Tahunan
 2013 Performance Company Profile Human Resources

Vision, Mission, and Corporate Values

VISION
To be the industry’s leading energy shipping
and logistic solution provider specializing in
marine bulk cargo transportation, offshore
drilling support services, storage business, and
agency services in Indonesia.

MISSION
To optimize our stakeholders’ interests by fulfilling our customers’
requirements in a fair, efficient, and competitive manner through the
provision of quality vessels, units, and professional services with
strong commitment to safety, security, and environmental protection.
Solid
SolidFoundation

CORPORATE VALUES
foundationFor

Continuously improving health, safety,

environmental responsibility, quality service,
discipline, cooperation, cost consciousness and a
for Growth

learning spirit.
30 growth
PT Buana Listya Tama Tbk
Laporan
2013 Tahunan
Annual Report
2013
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Company in Brief

Sailing Into a Brighter Future

Amid the hustle and bustle of Today, the Company owns various
domestic shipping industry, types of oil and gas tankers to
PT Buana Listya Tama Tbk has provide the best option for its
emerged as and one of the most customers. The Company also
prominent tanker companies in continuously expands its business
Indonesia. The Company was and enters new segments, such
established in 2005 and ever as FPSO (Floating, Production,
since then has been expanding its Storage and Offloading) and
shipping business by serving both chemical tanker segments.
international and domestic routes
as well as building its reputation as
a professional shipping company.

Given the promising business

potentials of shipping industry
in the country, the Company is
committed to exploring such
lucrative opportunities even further
and fully participating in developing
the country’s shipping industry. This
commitment was marked by the
Company’s initial public offering on
Indonesia Stock Exchange (IDX) in
2011.

“PT Buana Listya Tama Tbk is Foundation for Growth

For growth
With years of experience catering to numerous
proud to be the only domestic
Solid foundation

local and international clients, mostly major oil

shipping company that owns and gas companies, the Company has taken
and operates Indonesian- the standards of international shipping into
flagged FPSO vessels. We domestic waters in order to ensure its business
are also the first domestic development well into the future.
shipping company that owns
31

and operates VLGC (Very Large

Gas Carriers) in Indonesia.”
PT Buana Listya Tama Tbk

Henrianto Kuswendi
Commercial Director
2013 Annual Report
 2013 Performance Company Profile Human Resources

MILESTONE

“At its eighth anniversary, PT Buana Listya

Tama Tbk has become the shipping industry’s
benchmark in Indonesian waters. Let us strive
to realize an even better performance in the
coming years.”

• The Company entered chemical

PT Buana Listya Tama was established as a tanker segment.
domestic shipping company. • The Company acquired MT Kunti
chemical tanker (3,984 DWT).

2005 2007

2006 2009
• The Company entered gas tanker
• The Company acquired 3 oil tankers. segment.
• The Company converted an oil tanker • The Company acquired MT Gas
to become FPSO Brotojoyo (60,874 Natuna gas tanker (3,500 DWT / 3,213
DWT). CBM).
• The Company acquired 5 oil tankers
• The Company acquired MT Tirtasari
chemical tanker (5,878 DWT).
Solid
SolidFoundation
32 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

• The Company opened

two new branches in two
• The Company upgraded FPSO Brotojoyo and converted prominent ports in Indonesia,
FSO Pradapa (36,362 DWT) to serve new contracts Merak branch and DUmai
• The Company acquired 3 gas tankers, one of which is the Branch.
first Very Large Gas Carrier in Indonesia, MT Gas Komodo • Berlian Laju Tanker Tbk.
(56,875 DWT / 78,543 CBM) and 1 oil tanker, MT Badraini (BLTA) has entered the
(111,777 DWT). process of Suspension of
• The Company signed an MoU with PT Baturona Adimulya Debt Payment Obligations
to capitalize on the opportunities in dry-bulk storage (PKPU).
segment with 20 years contract period.

2010 2012

2011 2013
• The Company conducted Initial Public • The Company obtained ISO 9001:2008, ISO
Offering and listed its shares on 14001:2004 and OHSAS 18001:2007 certifications;
Indonesia Stock Exchange. whilst PT Karya Bakti Adil obtained ISO 9001:2008
• The Company converted 2 oil tankers, certification from ClassNK.
MT Badraini and MT Bramani (96,672 • The Company sold several laid up vessels.
DWT) to FSOs to serve new FSO • Composition Plan (PKPU) has been aprroved by
contracts. BLTA creditor on March 14, 2013 and ratified by
Commercial Court of Central Jakarta on March

Growth
For growth
22, 2013 as stated in Note 44 on the consolidated
financial statements.
Foundation for
Solid foundation
33
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Core Business

By integrating PT Gemilang Bina Lintas Tirta

and PT Karya Bakti Adil as subsidiaries with clearly defined
roles, we can provide optimal solutions to our clients

THE EMBODIMENT OF SHIPPING EXCELLENCE

PT Buana Listya Tama Tbk’s underlying philosophy is to offer agency business facilitates the expansion of the Company’s
all services relating to the life cycle of a ship from a single network with foreign shipping companies.
source. While others often rely on outsourcing practices, the
Company continuously focuses on improving our competency The Company offers a comprehensive range of services with
and expanding our services for customers. By integrating coverage in all parts of Indonesia:
PT Gemilang Bina Lintas Tirta and PT Karya Bakti Adil as
subsidiaries with clearly defined roles, we can provide optimal 1. General agency
solutions to our clients. 2. Owner’s protecting agent
3. Bunkering services
PT Buana Listya Tama Tbk 4. Cash To Master (CTM), spare parts and fresh water provision
5. Repair services
The Company provides a wide range of tankers especially 6. Crew changes
designed to transport crude oil and its derivative products,
liquefied petroleum gas (LPG) and chemicals; as well as other Offshore storage service
support services including vessel operations, vessel agency
and offshore storage services. Due to the increasing number of requests from various clients,
the Company also provides offshore storage service for oil and
Vessel chartering gas sector explicitly FSO and FPSO.
Solid

PT Gemilang Bina Lintas Tirta

SolidFoundation

The Company charters out the vessels for clients on a range

of terms, including short-term time charter, medium-term
foundationFor

time charter and long-term time charter basis, as well as spot This wholly-owned subsidiary provides world class quality and
charter and the Contract of Affreightment (COA). professional services as a competent ship manager to
improve the overall safety and efficient performance of
for Growth

Vessel agency services the fleet. Currently, it manages a fleet of tankers which
growth

include FPSO/FSO, oil and gas vessels from the home ports
Pursuant to the prevailing regulations in Indonesia, foreign of Indonesia extending to Asia across the world and
vessels calling at Indonesian ports are required to appoint supervision of new-building projects.
34

an Indonesian company to act as their general agent. As a

registered Indonesian company, the Company acts as the To uphold its mission to provide world class quality and
general agent for many foreign vessels. professional services in vessel management, PT Gemilang Bina
PT Buana Listya Tama Tbk

Lintas Tirta is committed to zero incidents and zero spills.

Foreign shipping companies whose vessels enter into Through its in-house structured training program based
Indonesian waters require various agency services from on safety and environmental excellence, the subsidiary defines
2013 Annual Report

permits and port facilities arrangement, as well as the standards, provides competent ship management services
provision of supplies such as fuels, fresh water, spare-parts, and formulates strategies to improve the overall safety
repair services and others. Other than contributing directly performance of the fleet.
to the PT Buana Listya Tama Tbk’s revenues and profits, the
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

PT Gemilang Bina Lintas Tirta’s comprehensive ship CABOTAGE PRINCIPLE

management services are as follows:
1. Ship Management In 2005, the Indonesian government issued a Presidential
a. Technical support Decree which regulated the implementation of Cabotage
b. Maintenance and repair Principle for domestic sea transportation. This policy
c. Storage, lubricants and spare parts presents significant opportunities for domestic shipping
d. International Safety Management (ISM) compliance industry development by limiting the participation of foreign
e. Regular maintenance and reporting owners while at the same time providing greater business
2. Pre-docking inspection and recommendation opportunities for local shipping companies to grow within
3. Docking supervision and docking repair reporting domestic market. To support this regulation, the Company
4. Regular operational inspection and subsequent reporting is determined to explore such lucrative opportunities even
5. On site operational troubleshooting and reporting further and aggressively expands domestic shipping fleet.
6. Retrofit investment consulting
7. Spare parts reconditioning arrangement

PT Karya Bakti Adil “Prior to Presidential Instruction

No. 5/2005 on Domestic Shipping
PT Karya Bakti Adil was developed as its main activity the
Industry Empowerment, the
provision of crewing for all operational activities of shipping
number of Indonesian-flagged
companies within the country and globally.
vessels was around 6,000 units
and now in 2013, the number has

Growth
PT Karya Bakti Adil provides crew starting from senior officers

For growth
to crews who have been trained directly on the vessels or in
increased by 5,500 to 11,500 units.”
training classes.
Foundation for
Solid foundation
MS Hidayat
PT Karya Bakti Adil fulfills the quality standard of ISO Industry Minister
9001:2008 and international regulations such as MLC 2006
and STCW 2010. This ensures PT Karya Bakti Adil’s capability to
compete with other local or international manning agents and
to provide the best contribution to the Company.
35

With our comprehensive crew database available for clients as

well as growing numbers of crews recruited, we are confident
PT Buana Listya Tama Tbk

that PT Karya Bakti Adil has the capability to provide quality

services for various types of vessel, including non-tanker
vessels.
2013 Annual Report
 2013 Performance Company Profile Human Resources

Organizational
Structure

BOARD OF COMMISIONERS
Adhi Utomo Jusman
Michael Murni Gunawan
Iwan Sutadi

PRESIDENT DIRECTOR,
ADVISOR COMMERCIAL DIRECTOR FINANCE &
Widihardja Tanudjaja Henrianto Kuswendi ACCOUNTING DIRECTOR
Wong Kevin

DEPUTY GM OF
FINANCE &
COMMERCIAL GM ADM., AGENCY & ACCOUNTING
TREASURY GM
Yudik T. Priyanto BRANCH SERVICES Maria Priscilla
Winston A. Lesmana
Kusumastuti DP
Solid
SolidFoundation
foundationFor

MARKETING OPERATION
for Growth
growth

OPERATION OPERATION
OFFSHORE
CHARTERING OIL & GAS FLEET B FINANCE
PROJECT FLEET A
Evaristus H. Sastra Andhika P. Wahyudi Wibowo Moh Ridwan
Wahyudi Wibowo Petrus Surya
(PJS)
36
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

AUDIT COMMITTEE
Iwan Sutadi
Vijay Yonathan
Hadiyanto Lim

ADMINISTRATION
UNAFFILIATED
DIRECTOR &
DIRECTOR
CORPORATE SECRETARY
Rizal
Vicky Ganda Saputra

QHSE MR & SHIP LEGAL & PMD & QHSE INFORMATION INVESTOR
MANAGEMENT INTERNAL AUDIT
INSURANCE OFFICE COORDINATOR TECHNOLOGY RELATIONS
CONTROLLER Adhi Nugroho
Stephan Hutagaol Errica Herjany Liem Hok Djwan Natassha Yunita
Lenny Sutrisno

Foundation for
Solid foundation
37 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Corporate Information AND CAPITAL MARKET

Supporting InstitutionS & ProfessionalS
Solid
SolidFoundation
foundationFor

Auditor Share Registrar Share Trading and

Registration Information
for Growth

Tanubrata Sutanto Fahmi & Rekan PT Ficomindo Buana Registrar

growth

Prudential Tower, 17th floor Mayapada Tower 10th floor Suite 2b Indonesian Stock Exchange
Jl. Jend Sudirman Kav 79 Jl. Jenderal Sudirman Kav. 28 Indonesian Stock Exchange Building,
Jakarta 12910 – Indonesia Jakarta 12920 – Indonesia Tower 1
Phone: +62 21 5795 7300 Phone: +62 21 521 2316, 521 2317 Jl. Jenderal Sudirman Kav 52-53,
38

Fax: +62 21 5795 7301 Fax: +62 21 521 2320 Jakarta 12190, Indonesia
Phone: +62 21 515 0515
www.idx.co.id
PT Buana Listya Tama Tbk

Share Listed
2013 Annual Report

Indonesia Stock Exchange (IDX)

Ticker: BULL
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Growth
For growth
Foundation for
Registered Office
Solid foundation

Head Office Banten Branch Dumai Branch

Danatama Square 2 Ruko Cilegon Business Square Jl. Jenderal Sudirman No. 271B,
Jl. Mega Kuningan Timur Blok D No. 11 Dumai
39

Blok C-6/Kav. 12A Jl. Raya Utama PCI Cilegon Riau 28813 – INDONESIA
Jakarta Selatan 12950 – Indonesia Kec. Cibeber, Cilegon Phone: +62 765 440122, 440123,
Phone: +62 21 3048 5700 Banten 42422 – INDONESIA 440124
PT Buana Listya Tama Tbk

Fax: +62 21 3048 5701 Phone: +62 254 8495728, 8495730,

Website: www.bull.co.id 8495731
Email: [email protected] Fax. +62 254 8495630
2013 Annual Report
 2013 Performance Company Profile Human Resources

SHIPPING
OPERATIONS ROUTE
Raoping
Dongguan

Bangkok

Kohsicang Sriracha

Rayong

Godau

Songkhla

Tanjung Pelepas

Kuantan
Erawan
Tentawan
Bintulu
Medan
MT Dewayani Port Klang
Solid
SolidFoundation

Singapore Tanjung Langsat

Lubuk Gaung
MT Dewi Sri Bontang
foundationFor

Tanjung Uban
MT Gas Komodo Teluk Kabung
Balikpapan
for Growth

MT Gas Natuna Plaju

growth

Pulau La
MT Gas Maluku

Panjang
MT Gas Indonesia
40

Teluk Semangka

MT Gandini Merak Makasa

PT Buana Listya Tama Tbk

MT Tirtasari Tanjung Gerem

Benoa
Anyer
2013 Annual Report

Tuban
MT Gas Sumatera
Jakarta Semarang Gresik
MT Gas Bali Balongan Surabaya Ampenan
Cilacap Probolinggo TG.Manggis
* MT Kunti: Lay up
* FSPO Brotojoyo : Submitted for new contract tender Kalbut
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Ningbao

Mailiao

Bataan

Growth
For growth
Ternate

Foundation for
Solid foundation

aut
Baubau Kendari
41

Wayame
ar
PT Buana Listya Tama Tbk

Ende
2013 Annual Report

n
Kupang
 2013 Performance Company Profile Human Resources

SUBSIDIARIES

Company Establishment Core Business Status Ownership

PT Anjasmoro Maritime 2006 Shipping Dormant/Inactive BULL: 99%

CM: 1%
PT Banyu Laju Shipping 1991 Shipping Active BULL: 99,98%
BAYU: 0,02%
PT Bayu Lestari Tanaya 2005 General Trading, Agency and Services Dormant/Inactive BULL: 99%
AM: 1%
PT BLT International Group 2009 Services, Trade, Construction, Agriculture, Mining, Land Dormant/Inactive BULL: 99%
Transportation and Industry BAYU: 1%
PT Berlian Dumai Logistics 2007 General Trade, Industry, Services, General Dormant/Inactive BAYU: 99%
Contractor, Agency BLT: 1%
PT Citrine Maritime 2006 Shipping Active BULL: 99,98%
BAYU: 0,02%
PT Diamond Maritime 2006 Shipping Active BULL: 99,98%
BAYU: 0,02%
PT Emerald Maritime 2006 Shipping Active BULL: 99,99%
BAYU: 0,01%
PT Gemilang Bina Lintas Tirta 2003 Management and Services Consultancy Active BULL: 99%
BAYU: 1%”
PT Jade Maritime 2009 Shipping Dormant/Inactive BULL: 99%
BAYU: 1%
PT Karya Bakti Adil 2003 Manpower Suppliers Active BULL: 99%
BAYU: 1%
PT Onyx Maritime 2009 Shipping Dormant/Inactive BULL: 99%
BAYU: 1%
PT Pearl Maritime 2006 Shipping Active BULL: 99%
BAYU: 1%
PT Ruby Maritime 2006 Shipping Active BULL: 99%
BAYU: 1%
PT Sapphire Maritime 2006 Shipping Active BULL: 99%
Solid
SolidFoundation

BAYU: 1%
PT Topaz Maritime 2009 Shipping Dormant/Inactive BULL: 99%
foundationFor

BAYU: 1%
BLT Marina Shipping Corp. (BVI) 2011 Investment Dormant/Inactive BULL: 100%

BLT Shipping Corp. (BVI) 2011 Investment Dormant/Inactive BULL: 100%

42 for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

SUBSIDIARIES

In order to realize the Company’s vision to be the

industry-leading Indonesian shipping and logistic
solution provider, the Company established the
following subsidiaries:

PT KARYA BAKTI ADIL (KBA)

PT Karya Bakti Adil (KBA) initially started as Crew Management Other than serving the needs of the Company, PT Karya
division, and subsequently developed into a subsidiary in Bakti Adil has also been working with several companies in
2006 with the addition of several new business activities. Its Singapore and is aiming to expand into other Asian countries.
core business is the provision of ship crews for all operational Moreover, KBA is equipped with ISO 9001:2008 certification
activities of our fleet and other domestic and foreign shipping and has met the requirements of both the Seafarer
companies. Recruitment and Placement Service Providers (SRPS) and
Maritime Labour Convention 2006 as certified by Nippon Kaiji
PT Karya Bakti Adil provides crew members from senior Kyokai.
officers to crews. KBA educates and prepares potential cadets
to become highly skilled workforce. They are placed and
trained onboard the Company’s vessels, studied directly on
the field and in training classes organized by the subsidiary.
The crews are then sent to various tanker vessels such as gas,
oil, and chemical as well as supply vessels, AHTS, survey ships
and various other types of ships.

Growth
For growth
Foundation for
“We provide human resources in Solid foundation

accordance with the Company’s and

its partners’ needs. All of our crews
are highly-trained, experienced,
reliable, and professional
43

In other word, the best.”

PT Buana Listya Tama Tbk

Michael Murni Gunawan

2013 Annual Report

PT Karya Bakti Adil Director

 2013 Performance Company Profile Human Resources

PT GEMILANG BINA LINTAS TIRTA “We do both micro and

PT Gemilang Bina Lintas Tirta, a wholly-owned subsidiary of macro management for
the Company, was established in Indonesia on November
10th, 2003. It was set up to provide independent technical
the Company’s technical
management services to the Company’s fleet, including oil and functional aspects.
and gas vessels trading mostly on Indonesian waters, from
domestic ports in Indonesia all the way to Asia, across the
Maintaining the Company’s
globe and supervise new project auctions. safety and environmental
Through its in-house structured training program, based on standards is our
safety and environmental excellence, PT Gemilang Bina Lintas
Tirta defines standards, provides competent ship management
responsibility.”
services and maps out strategies to improve the overall safety
performance of the fleet.
Michael Murni Gunawan
PT Gemilang Bina Lintas Tirta Director
Solid
SolidFoundation
44 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis
Good Corporate Governance
Corporate Social Responsibility

PT Buana Listya Tama Tbk

45 Solid foundation
Foundation for
For growth
Growth
2013 Annual Report
 03
HUMAN
RESOURCES

Employees’ Composition 48

The Best of Nature and Nurture 49

Preparing and Managing Seaworthy 50

Crew

A Mutually Beneficial Relationship 51

Dasar
Solid
Kokoh
Foundation
Untuk Pertumbuhan
For Growth

PT Buana Listya Tama Tbk conducts various training

programs to nurture and develop its talented
human resources, maintains employee satisfaction
46

through competitive remuneration, and instills

motivation by implementing performance
PT Buana Listya Tama Tbk

management program.
Laporan
2013 Tahunan

Vicky Ganda Saputra - administration director

Annual Report
2013
 IN TOTAL
INCREASE

EMPLOYEES
Total
Employees
3
Bachelor Title
Total Employees
10 %
%
PT Buana Listya Tama Tbk
47 DasarFoundation
Solid Kokoh Untuk
ForPertumbuhan
Growth
Laporan
2013 Annual
Tahunan
Report
2013
 2013 Performance Company Profile Human Resources

Employee
Composition

As of December 31st, 2013, the Company employed 141

employees. The Company’s and subsidiaries’ employees
composition based on education, position, age, employment
status and years of service is as follows:

Employee Composition Employee Composition

Based on Employment Status Based on Age Group

18.70%
< 25 years old

4.96% 2.87%
Contract > 55 years old

12.23%
46-55 years old

95.04%
Permanent

23.74%
36-45 years old

42.44%
26-35 years old
Solid
SolidFoundation
foundationFor

Employee Composition Based on Educational Level %

Master 6.38
for Growth

Bachelor 55.32
growth

D4 7.80
D3 18.44
D1 1.42
ANT I 1.42
48

ATT 2 0.71
ATT 2 1.42
Others 7.09
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

THE BEST OF NATURE

AND NURTURE

Amid the rapid growth of domestic Nurturing The Best

shipping industry, sustainable
operational and financial success
Human Resources “Throughout 2013,
heavily depends on competent, Firmly believing that human
we kept pushing our
professional, and loyal human resources are a strategic asset human resources
resources. The implication is
clear, recruiting and retaining the
in its effort to achieve maximum
development
performance, the Company
best talent and maintaining good consistently strengthens and forward.
and productive relationship with expands its long-term competitive
existing employees must become advantages through human
priorities. This is where both nature resources development.
We made no
and nurture play their crucial part. compromise
This is the reason why PT Buana
when it comes to
Listya Tama Tbk conducts various professionalism and
training programs to nurture
competency.”
and develop its talented human
resources, maintain employee
Wong Kevin
satisfaction through competitive President Director
remuneration, and instill motivation
by implementing performance
management program.

The commitment to competency

and professionalism-based human

Growth
For growth
resources development was
implemented by People Self-development is a program to
Foundation for
Management Department through
develop all employees through Individual
Solid foundation

the following activities conducted

in 2013: Development Plan (IDP). IDP is performed
1. Public and in-house trainings
for all employees to improve when new employees pass probation
their hard and soft skills. or when employees are about to be
49

2. Knowledge sharing by promoted, and the process will be

employees who have attended
public trainings for related
reviewed on annual basis by their superiors
PT Buana Listya Tama Tbk

department or division in through Performance Appraisal.

order to ensure widespread
2013 Annual Report

knowledge dissemination.
 2013 Performance Company Profile Human Resources

PREPARING AND MANAGING

SEAWORTHY CREW

To date, the sea remains one of In order to obtain such crew, the PT Karya Bakti Adil implements
the most dangerous workplaces on Company appoints its subsidiary, various crew management
Earth. Without tough and reliable PT Karya Bakti Adil, to employ a programs and applies the highest
crew, sea travel and in fact the myriad of selection tests including standards of human resources
whole shipping industry are simply medical checkup and rigorous practices. The aforementioned
not feasible. training procedure. This functional programs are as follows:
delegation ensures focused and
“We only want quality integrated human resources • Crew recruitment and
sailors with integrity recruitment and development. As procedures for inbound vessels
a result, the Company’s officers as well as the crew’s return to
and professionalism, and crews are deployment-ready, the country of origin.
who have potential or competent and posses appropriate • The implementation of and
experience, and then skills standards in accordance with follow-up to the no drug/liquor
international maritime regulations policy.
we will develop them and experienced in controlling • P&I insurance for the crew
into something even all of the Company’s vessels in including handling related
better than before.” chemical, oil and gas sectors. claims.
• Appropriate qualifications and
certifications for the crew.
Michael Murni Gunawan
PT Karya Bakti Adil Director As a licensed employment • Training and development
agency that also provides trained programs.
manpower for third party ships, • Seafarer welfare program.

Moreover, the Company also as well as standard facilities and

carries out several training technical proficiency required to
programs to impart the become world-class sailors. The
Solid
SolidFoundation

commitment to professionalism Company also provides classrooms

and safety to the crew and and other necessary facilities
foundationFor

methodically and intensively including bridge simulator, engine

introduce, renew and increase room, charge pump chart, and
their knowledge and skills in computer-based classrooms.
for Growth

order to ensure the availability of

growth

dedicated and loyal young officers

in the future. The aforementioned
programs are as follows:
50

Through its training programs,

the Company provides extensive
PT Buana Listya Tama Tbk

shipping and maritime knowledge,

historical background of the
Company, English nautical terms
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

A MUTUALLY BENEFICIAL
RELATIONSHIP

An effective company is a company 2. Health Insurance that covers

that treats its employees fairly, hospitalization and outpatient,
protects their interests, welfare, as well as dental care and
and above all, family. Such childbirth at reputable hospitals
relationship will ensure employees’ throughout Indonesia for
loyalty and motivate them to give employees and their family.
their best performance. This is 3. Travel Allowance.
the foundation upon which the 4. Employees Cooperative.
Company provides its employees 5. Pension plan from Jamsostek.
with the following facilities:
The Company has also
1. Life Insurance. implemented a payroll system
a. Provided to employees who in compliance with Provincial
spend more than 30% of their Minimum Wage stipulated by DKI
daily work hours outside the Jakarta Gubernatorial Decree No.
office, or visit the ship at least 189/2012.
5 times in a month, or require
special safety equipments
while working.
b. Travel insurance is provided
to employees on overseas
business travel with 1 day
stay at minimum.

Foundation for
Solid foundation
51 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 04
Management
Discussion And
Analysis
Oil and Gas Shipping Industry in Indonesia 54

Proven Oil and Gas Reserves 56

Indonesia Shipping Industry 57

Business Segment Review 58

Business Performance Report 59

Dasar Kokoh Untuk Pertumbuhan
Solid Foundation For Growth

The global economic growth in 2013 amounted to 2.4%, a

slight decline from 3.4% in 2012. This slowdown was mainly
caused by the fact that the financial crisis in Europe has
52
52

yet to show signs of abating as well as the economic

slowdown in several countries that have been the
PT Buana Listya Tama Tbk

foundation of global economic growth, such as China and

Laporan

India.
2013 Tahunan
Annual Report
2013
PT Buana Listya Tama Tbk Dasar Kokoh Untuk Pertumbuhan
Laporan Tahunan 2013 53 Solid Foundation For Growth
2013 Annual Report
 2013 Performance Company Profile Human Resources

Oil and Gas Shipping

Industry in Indonesia

A Blessing in Disguise
The global economic growth declined Moreover, energy industry in Indonesia This condition drove the government
in 2012 and 2013. This slowdown is still in a difficult position. By the end to optimize upstream oil and gas
was mainly caused by the fact that of 2013, oil production only reached sector’s output. In order to increase
the financial crisis in Europe has 826,000 barrels per day (bpd) or 98% oil production, several policies and
yet to show signs of abating as of the 840,000 bpd target stated in regulations have been implemented
well as the economic slowdown in the Revised State Budget. Moreover, such as the provision of incentives for
several countries that have been the gas production also failed to live up production-sharing contractors as well
foundation of global economic growth, to expectation at 6,981 million British as the mandatory implementation of
such as China and India. thermal unit per day (MMBTUD) or 97% Enhanced Oil Recovery (EOR) program
of 7,175 MMBTUD target outlined in in the future. Moreover, explorations
The same condition also befell Revised State Budget. will be intensified in eastern Indonesia
Indonesia as its economic growth went to find new reserves. Fuel import also
down from 6.2% in 2012 to 5.7% in Furthermore, based on BP Statistical becomes one of main options.
2013. This slowdown was mainly due Review of World Energy published in
to the fact that the global economy June 2013, Indonesia’s oil reserves In order to ensure the availability of
has yet to recover therefore it affected were declining in the past three years, gas supplies for general public, the
Indonesia’s export performance, whereas natural gas reserves were government has allocated 644 LNG
particularly to crisis-plagued Europe. relatively stable. This condition was cargos for domestic consumption up
This growth slowdown was also caused mainly due to various obstacles during until 2021.
by the fall of rupiah exchange rate exploration and production drilling
and BI rate increase that affected activities.
production cost, which stunted the
growth of investment.
Solid
SolidFoundation
54 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

The aforementioned supplies will Considering the fact that the government has prepared
be provided by several plants and
Oil and Gas Exploration Roadmap for 2011-2025 Period,
projects including BP’s Tangguh LNG
Plant, Chevron’s Indonesia Deepwater oil and gas shipping industry has a bright future ahead
Development (IDD) project in East
Kalimantan and ENI’s deep sea of it. In addition, shipping industry’s bright prospect in
development in Muara Bakau. relation with its ever-increasing role in oil and gas industry
The abovementioned policies can be seen from the realization of oil and gas investment
and activities implemented by the
government is a blessing in disguise for
that shows an upward trend on annual basis. Indonesia’s
domestic oil and gas shipping industry. economic growth that is projected to reach between
The increasing activities in upstream
oil and gas sector such as drilling, 5.8% and 6.2% in 2014 in accordance with the 2014 State
exploration, and exploitation require
supporting production and logistics
Budget indicates that business climate in general in
infrastructures and facilities, including 2014 will remain stable and positively influence domestic
vessels such oil tankers VLGC, FSO
and FPSO. Moreover, the declining oil shipping industry.
production leads to increasing imports
that necessitate more vessels.

Foundation for
Solid foundation
55 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Proven Oil and

Gas Reserves IN Indonesia

TYPE 2010 2011 2012 2013

Oil (Billion Barrels) 4.2 3.7 3.7 3.7

Natural Gas (TSCF) 3.0 3.0 2.9 2.9

Source: BP Statistical Review of World Energy (June 2014)

Indonesia Oil Production and Consumption

1,565
1,549

1,426
1,316
994 1,003 952
918
Dasar
Solid
Kokoh

2010 2011 2012 2013

56 Foundation
Untuk Pertumbuhan
For Growth
PT Buana Listya Tama Tbk
Laporan
2013 Tahunan
Annual Report
2013
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Indonesia’s
Shipping Industry

8 Years of Successful Cabotage

Principle Implementation

Indonesia is a vast archipelago that Eight years later, the implementation 2014 followed by the contract of
consists of 1.9 million km² of land and of Cabotage Principle has been proven foreign-flagged vessels used in drilling
3.1 million km² of water. The breadth successful in rejuvenating domestic and offshore construction activities
of the Indonesia’s territorial waters, shipping industry. This remarkable that will expire in December 2015.
which cover two-thirds of the entire achievement is marked by national This condition provides greater
nation, provides a bright outlook for shipping industry’s significant market opportunities for domestic shipping
the shipping industry to continue to share growth from only 54% or around industry to grow and secure new
grow and thrive. In order to support 101.3 million tonnes out of 187.6 projects for liquid cargo tankers in
and protect domestic shipping industry, million tonnes of total domestic 2014.
the Indonesian government took a bold seaborne cargo in 2004 to 98.85%
step by initiating the implementation or approximately 350.93 million tons Cabotage Principle also has positive
of Cabotage Principle in 2005. This out of 355.02 million tonnes of total influences on the country’s economy as
policy only allows national-flagged domestic seaborne cargo today. The a whole. The Transportation Ministry’s
vessels to sail and distribute goods number of Indonesian vessels also Sea Transportation Directorate General
in Indonesian waters. Moreover, soared from mere 6,041 units or 5.67 data revealed that the policy enables
the regulation also stipulates that million gross tonnage (GT) in 2004 to the state to save up to Rp79 trillion on
Indonesian-flagged vessels must be 12,774 units or 18.2 million GT in 2013. annual basis. Moreover, the growth of
owned at least 51% by domestic owner. domestic shipping industry also creates
The number of national commercial domino effects in the form of new jobs
vessels is certainly going to rise after as well as workforce absorption.
foreign-flagged oil and gas survey
vessels’ contract expired in December

Growth
For growth
Moreover, the government has began
designing the national shipping In addition, the industry’s Foundation for
industry road map pertaining to the
growth is predicted to reach
Solid foundation

production of compressed natural gas

(CNG) and liquefied natural gas (LNG)
6-7% in 2014.

6-7%
freighters in the next 3-4 years, in line
with oil to gas fuel conversion program,
as well as the production of cargo ships
and tankers with a capacity of 50,000
DWT in order to reduce ship import.
57

The aforementioned achievements

and results reflect the bright prospect
PT Buana Listya Tama Tbk

of national shipping industry in the

future. In addition, the industry’s
growth is predicted to reach 6-7% in
2013 Annual Report

2014. Considering the importance

of Cabotage Principle to the
national economy, the government
is also expected to continue its
implementation well into the future.
 2013 Performance Company Profile Human Resources

BUSINESS SEGMENT
REVIEW

Fleet
During 2013, the Company owned The general information of the fleet
and operated 14 tankers comprised owned and operated by the Company
of 5 oil tankers and 1 FPSO, 6 gas during 2013, is as follows:
tankers, and 2 chemical tankers
with total tonnage capacity of
301,413 DWT.

Type Number of Vessel Total DWT Average Age

Oil Tanker 5 153,462 17
FPSO 1 59,216 33
Gas Tanker 6 78,873 18
Chemical Tanker 2 9,862 19
Total 14 301,413 22

The Company’s business segments comprised of:

1. Chemical Tankers 3. Gas Tankers
The Company’s revenue from Gas tankers segment posted USD25.48
chemical tankers segment in 2013 million revenue in 2013, down by
amounted to USD4.50 million, down USD1.03 million or 3.89% from
by USD790 thousand or 14.85% from USD26.51 million in 2012. This decline
USD5.29 million in 2012. This decline was mainly due to the decreasing
was mainly due to the fact that the number of vessels operated by the
Company laid up one of its two Company in this segment from 8 in
Solid

chemical tankers. 2012 to 6 in 2013 as the Company

SolidFoundation

redelivered 2 vessels.
foundationFor

2. Oil Tankers And 4. Others

for Growth

FPSO
growth

Other segment revenue in 2013

Oil tankers and FPSO segment amounted to USD724 thousand down
booked USD16.69 million revenue in by USD122 thousand or 14.44% from
58

2013, down by USD20.45 million or USD847 thousand in 2012 following the

55.05% from USD37.14 million in the declining number of vessels under the
previous year. This decline was mainly Company’s shipping agency by 8.05%.
PT Buana Listya Tama Tbk

due to the cancellation of FPSO

Brotojoyo contract following technical
failure in one of the main pumps
2013 Annual Report

owned by the charterer in Kangean

and the sale of non-productive oil
tankers.
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

BUSINESS PERFORMANCE
REPORT

Revenue Direct Costs Gross Profit (Loss)

The Company’s revenue is derived from The Company’s direct costs in 2013 The Company’s gross profit in 2013
its main activities as follows: went down by USD16.1 million or decreased by USD6.28 million or 45.89%
28.71% from USD56.10 million in 2012 to USD7.41 million from USD13.69 million
1. Vessel charter services for oil, gas, to USD39.99 million. The main factor in 2012. This was primarily due to the
and chemical tankers as well as behind this downward trend was a aforementioned cancellation of FPSO
FPSO decline in boat rental costs combined contract and the decreasing number of
2. Shipping agency services with the sale of non-productive vessels operational vessels following redelivered
and efficiency measures implemented vessels and layups.
The Company’s revenue in 2013 by the Company in terms of fuel and
amounted to USD47.40 million, lubricant, insurance, salary costs and Oil Tankers and FPSO. As a cumulative
down by USD22.39 million or 32.08% laid up vessels effect of laid up ships following the
compared to USD69.79 million in aforementioned business revenue trend,
the previous year. This decline was shipping costs, vessel operation costs,
mainly due to the cancellation of FPSO Administrative and depreciation, oil tankers and FPSO
Brotojoyo contract following technical
Expenses segment’s gross profit plummeted by
failure in one of the main pumps USD12 million to negative USD4.04
owned by the charterer in Kangean and million compared to USD7.96 million in
The Company’s administrative
the sale of non-productive oil tankers. 2012.
expenses in 2013 went down by
USD466 thousand or 7.76% to
On a more positive note, despite Gas Tankers. Gas tankers is the only
USD5.54 million from USD6 million
the declining revenue per segment business segment where the Company
in 2012. This decline was mainly due
following the decreasing number of booked gross profit growth of 75.93% or
to efficiency measures conducted by
operational vessels and vessels under USD4.65 million from USD6.12 million in
the Company in terms of professional
the Company’s shipping agency, 2012 to USD10.77 million in 2013.
fees, marketing, and post-employment
revenue per operational vessel
benefits.
increased compared to the previous Chemical Tankers. As a cumulative
year as each remaining vessel is effect of laid up ships following the

Growth
For growth
profitable. Net Profit (Loss) aforementioned business revenue trend,
shipping costs, vessel operation costs,
As a cumulative effect of the Foundation for
and depreciation, chemical tankers
aforementioned factors and the decline
Solid foundation

Tax Expense in value of some of the Company’s

segment’s gross loss dropped by
USD1.19 million to USD48,98 thousand
The Company’s tax expense in 2013 assets, the Company posted USD41.67
from negative USD1.24 million in 2012.
went down by USD331 thousand or million net loss in 2013 compared to
36.77% to USD569 thousand from USD3.89 million net profit in 2012. The
USD900 thousand in 2012 due to the Company, however, was able to reduce
Company’s decreasing income from finance cost.
59

boat rental and operation.

Total Comprehensive
PT Buana Listya Tama Tbk

Other Comprehensive Income (Loss)

Income As a cumulative effect of the
2013 Annual Report

The Company’s other comprehensive aforementioned factors, the Company’s

loss went down by USD10.21 million comprehensive loss went up by
or 87.52% to USD1.46 million in 2013 USD35.35 million or 454.05% to
from negative USD11.67 million in 2012 USD43.13 million in 2013 compared to
influenced by vessels market value. USD7.78 million in 2012.
 2013 Performance Company Profile Human Resources

Assets

Current Assets Non-Current Assets Total Assets

The Company’s current assets as of The Company’s non-current assets as As a cumulative effect of the
December 31st, 2013, amounted to of December 31st, 2013, amounted to aforementioned factors, the Company’s
USD55.74 million, down by USD34.16 USD200.40 million, down by USD44.09 total assets as of December 31st, 2013,
million or 38% from that of December million or 18.03% compared to that of amounted to USD256.14 million,
31st, 2012, which amounted to December 31st, 2012, which amounted down by USD78.25 million or 23.40%
USD89.89 million. This decline was to USD244.49 million. This decline compared to that of December 31st,
primarily due to decreasing inventories, was mainly due to decreasing trade 2012, which amounted to USD334.39
and trade receivables from related receivables from related parties, million.
parties and third parties as well as deferred tax assets, and fixed assets
impairment of available-for-sale assets. – net of accumulated depreciation of
USD67.59 million as of December 31st,
2013.

Liabilities

Current Liabilities Non-Current Liabilities Total Liabilities

The Company’s current liabilities as The Company’s non-current liabilities as As a cumulative effect of the
of December 31st, 2013, amounted of December 31st, 2013, amounted to aforementioned factors, the Company’s
to USD30.02 million, went down by USD124.54 million, grew by USD19.28 total liabilities as of December 31st,
USD54.39 million or 64.44% from million or 18.31% from that of 2013, amounted to USD154.55
that of December 31st, 2012, which December 31st, 2012, which amounted million, dropped by USD35.12 million
amounted to USD84.41 million. This to USD105.26 million. This was mainly or 18.51% compared to USD189.67
decline was influenced by a successful due to a reclassification of a current million as of December 31st, 2012.
restructuring of the Company’s current liability that the Company successfully
liability to a creditor into a non-current restructured.
Solid

liability.
SolidFoundation
foundationFor

Equity
for Growth
growth

As of December 31st, 2013, the

Company’s total equity amounted to
60

USD101.58 million, down by USD43.13

million or 29.80% from that of
December 31st, 2012, which amounted
PT Buana Listya Tama Tbk

to USD144.71 million. The decline was

mainly due to the Company’s operating
loss for the year 2013.
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Cash Flows

Cash Flows From Cash Flows From Cash Flows From

Operating Activities Investing Activities Financing Activities

In 2013, the Company’s net cash In 2013, the Company’s net cash In 2013, the Company’s net cash
provided by operating activities provided by investing activities grew used for financing activities declined
declined by USD14.43 million or drastically by USD9.15 million or significantly by USD10.71 million or
55.74% to USD11.46 million from 124.39% to USD1.79 million from 54.58% to USD8.91 million compared
USD25.89 million in 2012. The main to USD19.62 million in 2012 primarily
negative USD7.36 million in the
factor behind the decline was the due to the reduced financing activities
previous year on the back of the
decreasing cash generated from on the payment of trade receivables
proceeds of the sales of fixed assets.
operations due to ship lay ups. from related parties and the payment
of long-term loans.

Return on Assets (ROA) Ability to Collectability

and Equity (ROE) Pay Loans Level

In 2013, the Company recorded a In 2013, the Company posted current In 2013, the Company’s collectability
ROA and ROE of -16.27% and -41.02% ratio of 186% or higher than 106% level was 25-50 days, much better than
respectively or worse than that of 2012, in 2012. This was primarily due to that of 2012, which was 91 days.
which amounted to 1.16% and 2.69% successful restructurings conducted
respectively. This decline was mainly by the Company and several creditors,
due to USD41.67 million loss booked a sharp decline in trade payables to
by the Company in the year ended on related parties and third parties.
December 31st, 2013.
Moreover, the Company booked Debt
to Equity Ratio of 152%, higher than
131% in 2012. This growth was spurred
Capital Structure and by the declining equity influenced by

Management Policy the Company’s losses caused by the

Growth
For growth
declining value of available-for-sale
financial assets and the proceeds from
As detailed below, the Company’s the sales of laid up vessels. Foundation for
Solid foundation
capital structure revealed that debt to
equity ratio amounted to 152% higher
than 131% in 2012. This indicates
the increasing financial risks from the
previous year.

In line with the Company’s commitment

61

to improving the financial condition,

realizing strong loan ratings, and
maximizing shareholder value, the
PT Buana Listya Tama Tbk

Company will strive to increase its

capital, and secure new profitable
contracts and prospective investments.
2013 Annual Report
 2013 Performance Company Profile Human Resources

Description 2012 2013

Current Liabilities USD84,410,009 USD30,016,206
Non-Current Liabilities USD105,263,453 USD124,541,712
Total Liabilities USD189,673,462 USD154,557,918
Total Equity USD144,714,868 USD101,584,930
Liabilities to Equity Ratio 131% 152%

Material Ties for Material Information and

The Investment of Fact After the Reporting Date
Capital Goods a. On January 15th, 2014, the Company sold its vessel, MT Gas
During 2013, the Company sold 4 oil Bali, to third party.
tankers which proceeds will be used b. On January 16th, 2014, the Company fully paid the loan from
to pay debt and purchase new vessels Bank Mega amounted to US$10,640,964 using proceeds from
in accordance with the Group’s fleet the aforementioned sale of MT Gas Bali vessel.
restructuring (refer to the letter c of c. On April 4th, 2014, the Company purchased MT Bull Papua.
Material Information and Facts After
the Reporting Date).
Solid
SolidFoundation
62 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Strategy
As part of its continuing efforts to respond to and manage the
adverse effects of the above mentioned economic and business
conditions, the Company has undertaken and continuously
implemented the following measures, among others:

• Generate new long-term contracts across diversified

geographic areas and industries;
• Take advantage of the Indonesia cabotage opportunities;
• Improve the capital structure and liquidity and propose the
restructuring its liability to the creditors;
• Secure access to financing of new vessel deliveries; and
• Implement cost efficiency measures.

Despite the current uncertain economic outlook, the management

has a reasonable expectation that the Company will be able to
execute its strategies and manage its business and financial risks
successfully. The Company’s management also believes that the
Company has adequate resources to continue in operational
existence for the foreseeable future.

Foundation for
Solid foundation
63 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Sales and Marketing

The sales and marketing activities of the Company are supported The Company’s marketing department also continuously updates
by a marketing team stationed in Jakarta. The Company runs the data on space availability and location of the Company’s
its own marketing activities, because the Company believes in vessels. Freight rate for spot contract follows the movement
the importance of maintaining control over marketing activities of the market based on shipping industry cycles. To determine
related to the strategic value of client’s information towards the the rate, the Company’s marketing staff will calculate the rate of
Company’s business activities. every voyage based on the market rate at that particular time and
also calculates the voyage expenses that must be spent for such
The Company chartered its tankers to third parties based on three voyage.
types of different contracts, time charter (time based charter),
COA (shipment contract for a certain shipment volume), and spot The Company obtains the clients and receives requests for
charter (one trip charter). shipping services through shipping brokers and direct contact with
the companies engaged by the Company’s sales and marketing
The Company competes in the business through sales of services department. The Company believes that the clients will choose
in the industry, such as towards the producers, charterers, brokers, the services provided by the Company other than other services
traders, buyers, users and mediators. Time charter contracts made available by competitors due to the combination of the
and COA are usually offered through tender mechanism in the Company’s reputation in the industry for safety and reliability,
open market, and the Company participates in time charter competitive pricing, and ships availability. As part of the sales
and COA bidding through normal tender process where the and marketing team, the Company has several customer service
Company follows all the requirements presented by the charterer representatives especially dedicated to focus on one or several
to participate in the tender process including providing the major clients, in order to fulfill the needs of those clients. Through
Company’s vessels specification, Company track record, and other contracts and the clients, the Company is able to anticipate
documentation to fulfill the prevailing requirements. or discover the areas where the clients would require shipping
services in the future, thus the Company would be able to position
Spot contracts are offered in the open market and the sales and its armada in accordance with the requirements. The ability to
marketing team of the Company maintains relationship with provide services and flexibility has supported the Company’s
charterers and mediators to market the availability of space on a business in maintaining long term relationship, and at the same
certain time where a spot contract is expected to end. time, building reputation in winning new shipping contracts.
Solid
SolidFoundation
64 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Dividend Impact from Changes in

Policy Accounting Policies
Determination of the amount and payment of dividends will The Company has evaluated adoptions of all of the new and
depend on the recommendation of the Board of Directors of the revised standards and interpretations issued by the Financial
Company, but there is no assurance that the Company will be able Accounting Standards Board of the Indonesian Institute of
to pay dividends this year or in future years. Decision of the Board Accountants that are relevant to their operations and effective for
of Directors in providing recommendations dividend payments accounting periods beginning on or after January 1st, 2013. The
depends on: adoption of these new and revised standards and interpretations
has resulted in changes to the Company accounting policies in the
1. In determining the dividend payout ratio for a given fiscal year, following areas, and affected the consolidated financial statement
the Company will consider the objective to maintain and presentation and disclosures.
increase dividend payments to maximize value for shareholders
in the long term. • Statement of Financial Accounting Standard (PSAK) 38
2. For dividends paid in a given fiscal year, then the dividends are (Revised 2012), “Business Combination of Entities Under
declared in the second quarter, and paid in the third quarter in Common Control”
the next fiscal year.
3. In formulating recommendations on the amount of dividends PSAK 38 (Revised 2012), “Accounting for Restructuring of
to be paid, the Board of Directors takes into account the Entities Under Common Control,” prescribes among others
following factors: that items of the financial statements of the combining
a. The total value of cash, gearing, return on equity (ROE) and entities are presented as if the combination has occurred
retained earnings of the Company at that time; since the beginning of the period of the combining entity
b. Estimated financial performance of the Company; become under common control. Furthermore, this standard
c. The Company’s estimate of the level of capital states specifically that its scope only includes business
expenditures for the year, including other investment plans; combinations that fulfill the criteria set forth in PSAK No.
d. The level of dividends, if applicable, the dividends received 22 (Revised 2010), “Business Combinations” and are
by the Company and its subsidiaries; transacted with under common control entities. Business
e. Dividends paid by comparable with other shipping combinations under common control are accounted for
companies in other countries. using the pooling-of-interest method, whereby the
difference between the considerations transferred and the
Since the fiscal year ended December 31st, 2013, the Company’s book value of the net assets of the acquiree is recognized
management has never disbursed dividends. The policy is set as part of “Additional Paid-in Capital” in the consolidated
by the consideration: the financial soundness of the Company, statement of financial position.

Growth
For growth
the consideration of cash value, the level of debt, the return on
equity and retained earnings as well as the funding requirements • Amendment to Statement of Financial Accounting Standard
of the Company for further expansion and without prejudice to (PSAK) 60, “Financial Instruments: Disclosure” Foundation for
Solid foundation

the right of the General Meeting Shareholders of the Company to

determine otherwise in accordance with the Articles of Association Even though it has not significant impact on the consolidated
of the Company. financial statements, the standard, among other things,
requires the disclosures of the description of the collateral held
as security and of other credit enhancements, and their
financial effect (e.g., quantification of the extent to which
Impact from Changes in
65

collateral and other credit enhancements mitigate credit

Regulation

risk) in respect of the amount that best represents the
maximum exposure to credit risk.
PT Buana Listya Tama Tbk

During the year 2013, there were no changes in legislation that

significantly influence the Company.
2013 Annual Report
 05
Good Corporate
Governance
General Meeting of Shareholders 68

Board of Commissioners 72

Board of Directors 73

Audit Committee 75

Corporate Secretary 76

Internal Audit Unit 76

Internal Control System 78

Risk Management System 79

Corporate Culture and Code of Conduct 81

Whistleblowing System 83
Dasar
Solid
Kokoh
Foundation
Untuk Pertumbuhan
For Growth

“Throughout 2013, the Company continuously implemented

Good Corporate Governance (GCG). Compliance with
applicable regulations, accountability, and information
66

disclosure were the main elements behind the Company’s

every decision and policy.”
PT Buana Listya Tama Tbk
Laporan
2013 Tahunan

Adhi Utomo Jusman

Annual Report

President Commissioner
2013
 ForPertumbuhan
Kokoh Untuk
DasarFoundation
Solid Growth

“Under the guidance of the Board of Commissioners, the Board of

Directors and the management ensured compliance with applicable
rules and regulations. As check and recheck mechanism, all functions
67

of internal auditors, external auditors, and Audit Committee

continuously work together to ensure effective good corporate
PT Buana Listya Tama Tbk

governance by ensuring transparency, accountability, independence,

2013

fairness and responsibility in each organizational process.”

Report
Tahunan
Annual

Wong Kevin
Laporan
2013

President Director
 2013 Performance Company Profile Human Resources

General Meeting
of Shareholders

PT Buana Listya Tama Tbk continues to abide by and

adhere to the GCG principles as stipulated in the
relevant BAPEPAM-LK and Indonesia Stock Exchange
(IDX) rules and regulations. In relation to the
implementation of GCG principles, we have formed
and put in place appropriate internal processes in
accordance with IDX Rule No. I-A, BAPEPAM-LK rules
and other GCG best practices with regards to the
appointment of Independent Commissioners, and
the appointment of Non-Affiliated Directors and a
Corporate Secretary to facilitate informational or
data needs of shareholders, investors and regulators.
Additionally, we also have put in place an Internal Audit
Unit that supervises and implements the policies that
have been decreed by the management.

The General Meeting of Shareholders his position as Independent Board of Directors:

(GMS) is the company organ vested Commissioner, for the remainder of - President Director: M. Suluhuddin
with the highest level of authority. the latter’s terms of office. Noor;
Solid
SolidFoundation

The GMS is authorized to appoint - Director: Henrianto Kuswendi;

and dismiss members of the Board 2. Appointed M. Suluhuddin Noor as - Director: Wong Kevin;
foundationFor

of Commissioners and Directors, the new President Director of the - Director: Siana Anggraeni Surya;
evaluate the performance of the Board Company and relegated Henrianto - Director: Vicky Ganda Saputra;
of Commissioners and Directors, Kuswendi from his initial position as - Unaffiliated Director: Rizal, SE.
approve amendments to the Articles of President Director to Director, and
for Growth

Association, approve annual reports appointed Vicky Ganda Saputra as With the following tenures:
growth

and determine the type and amount Director of the Company. - Widihardja Tanudjaja, Michael Murni
of remuneration for members of Gunawan, and Iwan Sutadi will serve
the Board of Commissioners and In accordance with these changes, until December 14th, 2015.
Directors. the composition of the Board of - M. Suluhuddin Noor and Vicky
68

Commissioners and the Board of Ganda Saputra will serve from the
In 2013, the Company organized Directors of the Company is as follows: closing of the General Meeting of
1 Extraordinary Annual General Shareholders until the closing of
PT Buana Listya Tama Tbk

Meeting of Shareholders (EGMS) on Board of Commissioners: the third AGMS after their effective
February 27th, 2013. The summary of - President Commissioner: Widihardja appointment that will be held in
the Company’s EGMS resolutions are Tanudjaja; 2015.
2013 Annual Report

as follows: - Commissioner: Michael Murni - Henrianto Kuswendi, Wong Kevin,

Gunawan; Siana Anggraeni Surya, and Rizal, SE
1. Appointed Iwan Sutadi as - Independent Commissioner: Iwan will serve until December 14th, 2015.
Independent Commissioner of Sutadi.
the Company replacing Hie,
Vivi Junaedi that resigned from
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

3. Granted the Board of Directors The summary of the Company’s AGMS and as stated in 2011 Financial
the authority with the right resolutions for fiscal year 2011 are as Statement, the Company suffered
of substitution to legalize the follows: financial losses therefore could not
decision regarding changes in pay dividends to shareholders and
the composition of the Board of A. Approved the Annual Report there was no fund appropriated as
Commissioners and the Board of prepared by Board of Directors for Reserve Fund in accordance with
Directors of the Company through fiscal year ended on December 31st, Article 70 subsection 1 of Limited
a Notarial Deed to be reported 2011, and ratified the Company’s Liability Companies Law.
to the Ministry of Law and Human Financial Statement that comprised
Rights of the Republic of Indonesia of the Company’s Balance Sheet C. 1. The division of tasks and
and registered in the Company List and Income Statement for fiscal authorities of each member of
and to conduct the aforementioned year ended on December 31st, the Company’s Board of Directors
activities in accordance with 2011, and granted all members remain the same as the previous
applicable laws and regulations. of Board of Commissioners and year.
Board of Directors full release and
In 2013, the Company organized 1 discharge of responsibilities (acquit 2. Granted the Company’s Board
Annual Annual General Meeting of et de charge) of their management of Commissioners the authority
Shareholders (AGMS) on June 28th, and supervision actions carried to determine the salary and other
2013, for both the fiscal year 2011 and out during fiscal year ended on allowances for all members of the
fiscal year 2012. December 31st, 2011. Board of Directors for fiscal year
2012 provided that the amount of
B. Approved the use of the Company’s salary and other allowance for all
net profit for the fiscal year 2011 members of the Board of Directors

did not exceed Rp13,200,000,000,-

per year after tax deduction, similar
to that of fiscal year 2011, and the
allocation for individual director will

Growth
For growth
be determined by the Company’s
Board of Commissioners.
Foundation for
3. Determined the amount of
Solid foundation

salary and/or other allowances

for all members of the Board
of Commissioners including
Independent Commissioners for
fiscal year 2012, similar to that of
fiscal year 2011, not more than
Rp6,000,000,000,- per year after
69

tax deduction, and subsequently

granted Board of Commissioners the
authority to determine the amount
PT Buana Listya Tama Tbk

of salary and allowances for each

Commissioner.
2013 Annual Report
 2013 Performance Company Profile Human Resources

D. Appointed Tanubrata Sutanto Fahmi discharge of responsibilities (acquit Board of Directors for fiscal year
& Partner Public Accounting Firm et de charge) of their management 2013 provided that the amount of
to audit the Company’s Financial and supervision actions carried salary and other allowance for all
Statement for fiscal year ended out during fiscal year ended on members of the Board of
on December 31st, 2011 and 2012 December 31st, 2012. Directors did not exceed
and granted the Board of Directors Rp13,200,000,000,-per year after
the authority to determine the B. Approved the use of the tax deduction, similar to that of
honorarium and other requirements Company’s net profit for fiscal fiscal year 2012, and the
for the aforementioned Public year 2012 following the need of allocation for individual
Accounting Firm. substantial fund for development director will be determined
and in accordance with Law No. by the Company’s Board of
The summary of the Company’s AGMS 40/2007 Article 70 subsection 2, Commissioners.
resolutions for fiscal year 2012 are as we recommend the Shareholders 3. Determined the amount of
follows: Meeting not to pay cash dividend salary and/or other allowances
from the Company’s net profit in for all members of the Board
A. Approved the Annual Report fiscal year 2012. of Commissioners including
prepared by Board of Directors for Independent Commissioners for
fiscal year ended on December 31st, C. 1. The division of tasks and fiscal year 2013, similar to that
2012, and ratified the Company’s authorities of each member of of fiscal year 2012, not more than
Financial Statement that comprised the Company’s Board of Directors Rp 6,000,000,000,- per year after
of the Company’s Balance Sheet remain the same as the previous tax deduction, and subsequently
and Income Statement for fiscal year. granted Board of Commissioners
year ended on December 31st, 2. Granted the Company’s Board the authority to determine the
2012, and granted all members of Commissioners the authority amount of salary and allowances
of Board of Commissioners and to determine the salary and other for each Commissioner.
Board of Directors full release and allowances for all members of the
Solid
SolidFoundation
70 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

D. The reappointment of Tanubrata BOARD OF COMMISSIONERS: For terms of office that will end on
Sutanto Fahmi & Partner Public President Commissioner: Adhi Utomo Jusman December 14th, 2015, with the
Accounting Firm to audit the Commissioner: Michael Murni Gunawan exception of Vicky Ganda Saputra who
Company’s Financial Statement Independent Commissioner: Iwan Sutadi will serve from the closing of the
for fiscal year ended on December General Shareholders Meeting to the
31st, 2013 and authorized the For terms of office that will end on closing of the third Annual General
Board of Directors to determine fair December 14th, 2015, with the Shareholders Meeting after his
honorarium and other requirements exception of Adhi Utomo Jusman who appointment in 2015.
for the aforementioned Public will serve from the closing of the
Accounting Firm. General Shareholders Meeting to the In relation to the aforementioned
closing of the third Annual General changes, members of the Company’s
E. The changes to the Company’s Shareholders Meeting after his Board of Directors and/or Board
Management, therefore the appointment in 2015. of Commissioners are granted the
composition of the Company’s authority to individually or collectively
Board of Commissioners and Board BOARD OF DIRECTORS: conduct all necessary measures with no
of Directors is as follows: President Director: Wong Kevin exception to legalize the Meetings’
Director: Henrianto Kuswendi Resolutions through Notarial Deeds or
Director: Vicky Ganda Saputra other necessary documents and to be
Unaffiliated Director: Rizal signed as well as to seek approval from
the authorities.

Foundation for
Solid foundation
71 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Board of Commissioners

Board of THE IMPLEMENTATION 2. The Board of Directors and/

OF BOARD OF or each director are obliged to
Commissioners COMMISSIONERS’ DUTIES provide account of everything

consists of AND RESPONSIBILITIES that is inquired by the Board of

Commissioners.
a President The main responsibilities of the Board
REMUNERATION OF THE
Commissioner and
of Commissioners are supervising
the Company’s management policies BOARD OF COMMISSIONERS
two Commissioners, and providing advices to the Board of
Directors. Moreover, in accordance with Board of Commissioners receives
one of whom is the Company’s articles of association, remuneration for their services in
an Independent the Board of Commissioners is also the form of salaries, allowances, and
facilities, the amount of which is
authorized to perform the following
Commissioner. The activities: determined by taking into account

principal function the amount of revenue in previous

years, the duties and responsibilities,
1. At any time during the Company’s
of the Board of working hours, the Board of and adjusted to the level of executive

Commissioners Commissioners is entitled to enter remuneration in similar industries.

the building and yard or other
is to give places that is used or held by Due to the fact that the Company

recommendations the Company and has the right and the Company’s parent company
to examine all financial records, utilize a unified remuneration system,
to, and supervise the letters and other evidence, examine remuneration for the Board of
Commissioners in 2013 was derived
policies of the Board
and compare cash and other
conditions, and has the right to from the parent company, PT Berlian
of Directors. know every measure that have Laju Tanker Tbk. The Company did not
been implemented by the Board of provide remuneration to the members
Directors. of the Board of Commissioners.
Solid
SolidFoundation

BOARD OF COMMISSIONERS’
foundationFor

MEETINGS

Board of Commissioners’ meeting

may be held at any time if deemed
for Growth

necessary by the President

growth

Commissioner or one or more members

of the Board of Commissioners, or
upon written request from either the
Board of Directors or one or more
72

shareholders jointly representing at

least 1/10 (one-tenth) of the total
voting shares issued by the Company.
PT Buana Listya Tama Tbk

Board of Commissioners’ meeting is

declared valid and entitled to adopt
binding resolutions only if more than 50
2013 Annual Report

percent of the members of the Board

of Commissioners are present and/or
represented at the meeting.
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Board of Directors

The Board of Directors manages the Company on a day-to-day basis.

Under the Company’s Articles of Association, the Board of Directors
must be comprised of at least three members, one of whom is the
President Director and if deemed necessary, one or more Directors may be
appointed as Vice President Director. The Board of Directors is required
to perform its duties in good faith and in the best interests of the
Company.

The Board of Directors is authorized to act for and on behalf of the

Company in relation to all transactions conducted by the Company’s
management and administration. However, pursuant to the Company’s
Articles of Association and in accordance with the applicable laws and
regulations, certain corporate actions require written approval from
and/or relevant deeds signed by the President Commissioner or, in the
absence of the President Commissioner, by two other Commissioners, or
collectively by all members of the Board of Commissioners.

BOARD OF DIRECTORS’ COMMERCIAL DIRECTOR 3. Ratifying contracts or agreements

DUTIES AND with external parties.
RESPONSIBILITIES 1. Ensuring the achievement of 4. Controlling Division Heads’ or
revenue target through optimum Department Heads’ activities.

Growth
5. Providing and maintaining IT

For growth
PRESIDENT DIRECTOR exploitation of voyage charter,
time charter, and agency business infrastructure.
1. Determining the Company’s mission opportunities. 6. Providing supporting services
and objectives. 2. Strengthening customers’ loyalty (IT and Commercial Infrastructure). Foundation for
Solid foundation
2. Formulating corporate policies in and maintaining customer
accordance with the Company’s satisfaction.
mission and objectives. 3. Developing new business with both
3. Upholding overall responsibility existing and potential customers.
for the Company’s Quality, Health, 4. Continuously identifying potential
Safety and Environmental practices. business growth opportunities and
4. Directing the Company’s strategy in presenting sound proposals to
73

line with the agreed upon financial justify investment in new ventures.
and operational targets, and
seeking out future opportunities for ADMINISTRATION DIRECTOR
PT Buana Listya Tama Tbk

profitable growth.
5. Overseeing current business, 1. Providing the necessary resources
both in general and in regard to including personnel to implement
2013 Annual Report

contract renewal/enhancement the Company’s Quality, Health,

by monitoring the political, Safety and Environmental
economic, financial, and operational Management System.
environments in which the Company 2. Selecting and arranging quality
conducts its business. personnel.
 2013 Performance Company Profile Human Resources

FINANCE AND ACCOUNTING 5. Ensuring the availability of 3. Advising and counseling the Board
DIRECTOR operational funds needed by the regarding its good corporate
Company for day-to-day operations, governance responsibilities as well
1. Coordinating the long term strategy by coordinating closely with as the Company’s financial stability
formulation as the basis for the business unit leaders. and the most appropriate use of
Company’s Work Plan and Budget in 6. Ensuring timely and accurate funds.
collaboration with other Directors. financial consolidation for the
2. Adopting measures to mitigate and purposes of reporting to the Board REMUNERATION
cope with various types of financial of Directors and Commissioners of
risks that may be faced by the the Company. Board of Directors receives
Company in coordination with other remuneration for their services in
Directors. INDEPENDENT DIRECTOR the form of salaries, allowances, and
3. Ensuring that all of the Company’s facilities, the amount of which is
business units and work areas 1. Advising the development of the determined by taking into account
comply with financial policies and Company’s vision, strategy and the amount of revenue in previous
Standard Operating Procedure policies, in collaboration with the years, duties and responsibilities, and
(SOP) applicable to each financial rest of the Board of Directors. adjusted to the level of executive
function in accordance with the 2. Providing oversight and remuneration in similar industries.
approved business units oversight independent views on strategy
plans. implementation and assisting the The Company provides compensations
4. Building synergies and striving to Board in making objective and to Directors and Commisioners such as
achieve optimal business results balanced decisions. salaries and allowances amounted to
from the entire enterprise business. IDR4,289,293,459.

Board of Directors’ meeting

ATTENDEEs * Description
MONTH DAY & DATE
WK HK VGS RY WK Wong Kevin
January 20-1-2013 √ √ √ √ HK Henrianto Kuswendi
February 18-3-2013 √ √ √ √ VGS Vicky Ganda Saputra
March 25-4-2013 √ √ √ √ RY Rizal Yahya
April 20-5-2013 √ √ √ √
May 21-6-2013 √ √ √ √
June 24-7-2013 √ √ √ √
July 26-8-2013 √ √ √ √
August 30-9-2013 √ √ √ √
Solid
SolidFoundation

September 21-10-2013 √ √ √ √
October 21-11-2013 √ √ √ √
foundationFor

November 12-12-2013 √ √ √ √
December 28-1-2014 √ √ √ √
for Growth
growth

Board of Directors’ meeting may be Board of Directors’ meetings were 50% (fifty percent) of the total members
held at any time if deemed necessary chaired by the President Director. If of the Board who are present and/or
by the President Director or one the President Director were unable represented at the meeting.
or more members of the Board of to attend, which does not need to be
Directors, or upon written request from proved to a third party, then the Board In accordance with Bapepam-LK
74

the Board of Commissioners or one or of Directors meeting would be chaired Chairman Decree No.KEP 29/
more shareholders jointly representing by a member of the Board of Directors PM/2004 and Regulation No.IX.1.5,
at least 1/10 (one-tenth) of the total who is specifically elected by the Board the Board of Commissioners
PT Buana Listya Tama Tbk

voting shares. of Directors’ meeting. established an Audit Committee as

part of good corporate governance.
Board of Directors’ meeting is Board of Directors’ meetings Audit Committee answers directly to
2013 Annual Report

declared valid and entitled to adopt resolutions are generally taken by the Board of Commissioners Board
binding resolutions only if more than way of consensus, but if consensus of Commissioners and oversees the
50 percent of the members of the could not be reached, the decision Board of Directors as well as
Board of Directors are present and/ would be taken by voting wherein the supporting an effective internal
or represented at the meeting. All affirmative vote should be more than monitoring system.
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Audit Committee

The composition of the Audit management regarding the services Authorities

rendered.
Committee is as follows: d) Providing recommendations to In performing its duties, Audit
Chairman: Iwan Sutadi the Board of Commissioners Committee has the following
Member: Vijay Yonathan on the appointment of External authorities:
Member: Hadiyanto Lim Accountant/Auditor, and monitoring a) Accessing the Company’s data
follow-up to External Audit’s and information on the Company’s
Duties and Responsibilities findings. employees, funding, assets, and
e) Reviewing complaints (if any) other resources related to the
In performing its functions, the Audit related to accounting process and execution of its duties
Committee has the following duties the Company’s financial reporting, b) Communicating directly with
and responsibilities: and conducting investigation employees, including Directors, and
through Internal Audit or by those performing the functions of
a) Reviewing the Company’s engaging independent parties. Internal Audit, Risk Management,
compliance with the applicable f) Reviewing the appointment and/ and accountants related to the
capital market regulations and other or the substitution of the Head of duties and responsibilities of Audit
related regulations. Internal Audit Committee.
b) Reviewing financial statement and g) Reviewing Internal Audit’s work plan c) If necessary, Audit Committee
other financial information that and monitoring its implementation might involve independent external
will be issued by the Company to and Board of Directors’ follow-up to parties to assist it in performing its
ensure compliance with generally Internal Audit’s findings. duties.
accepted accounting principles. h) Advising the Board of d) Updating Audit Committee Charter
c) Reviewing audits performed Commissioners regarding the with the approval from the Board of
by external auditors to ensure Company’s potential of conflict of Commissioners.
compliance with standard interests. e) Other authorities bestowed by the
audit practices and providing i) Maintaining the confidentiality of Board of Commissioners.
independent inputs in case of the Company’s document, data and
dissenting opinions with the information.

Audit Committee’s Meetings

In performing its duties, the Audit Committee regularly convened at least once a month. Throughout 2013, Audit
Committee organized seven meetings.

Growth
For growth
NO DATE Meeting Member Attendance

Iwan Sutadi Vijay Yonathan Hadiyanto Lim

(Chairman) (Member) (Member) Foundation for
Solid foundation

1. March 15th, 2013 Meeting and interview with Board of Directors

√ √ √
regarding Audit Committee’s work plan

2. June 3rd, 2013 Meeting with Internal Auditor regarding

internal audit’s work process √ √ √

3. June 26th, 2013 Meeting on the result of audit conducted

by KAP BDO (Tanubrata Sutanto & Partner)
on the Company’s financial statement per
December 31st, 2012, and fleet production √ √ √
75

and operation report as of May 2013.

4. July 26th, 2013 Meeting on Q2 2013 financial statement for

Bapepam and IDX √ √ √
PT Buana Listya Tama Tbk

5. September 27th, 2013 Meeting on audit activities that had been

performed √ √ √
2013 Annual Report

6. October 30 , 2013
th Meeting on Q3 2013 financial statement for
Bapepam and IDX √ √ √

7. December 12th, 2013 Meeting on audit activities that had been

performed and internal audit schedule for √ √ √
2014
 2013 Performance Company Profile Human Resources

Corporate Secretary

The Company appointed The Corporate Secretary’s duties are as

follows:
a Corporate Secretary to
• Keeping abreast of capital market
act as the liaison between developments, particularly
the Company and its regarding new capital market
corporate bodies, as well regulations;
• Providing services to public or
as with stakeholders in investors who need information
accordance with Bapepam- relating to the condition of the
LK Regulation No. IX.I.4 and Company;
• Providing inputs to the Board
Indonesia Stock Exchange
of Directors in complying with
(IDX) Regulation No. I-A. applicable laws and regulations;
The Corporate Secretary • Acting as a liaison between all
answers to the Board of the existing bodies within the
Company such as the Board of
Directors and reports his
Commissioners, Directors, Audit
activities to the Board of Committee, and professionals as
Commissioners. well as between the Company and
stock exchange authorities, the
press and the general public.

Internal Audit Unit

Solid
SolidFoundation

At this time, the Internal Audit the value and improve the operations
foundationFor

of the company through systematic

Company’s Internal In conducting its business the company approach, a way to evaluate and
Audit Unit has not is committed to implementing to greater effectiveness of risk
been affiliated with the
for Growth

good corporate governance with management, control and corporate

governance processes.
Internal Audit Unit from
growth

the basic principle: transparent,

Integrity, Accountability, Fairness, and
PT Berlian Laju Tanker Sustainable. The Board of Directors In carrying out its functions, internal
Tbk as the Company is responsible for the fairness and audit guided by the Internal Audit
has established the Charter (Internal Audit Charter)
76

accuracy of the financial statements,

independent Internal adequacy and effectiveness of the
organization’s internal controls and the
Audit Unit separate quality of its implementation in order to
PT Buana Listya Tama Tbk

from the PT Berlian Laju protect investments and assets of the

Tanker Tbk. company, including financial control,
obedience and control over operational
2013 Annual Report

and risk management.

The Company’s Internal Audit Unit

is an independent unit that is tasked
to ensure and provide independent
consultation and objective to increase
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Internal Audit assists management in Since June 2013, the Internal Audit Duties and Responsibilities of Internal
achieving corporate objectives with a Unit is led by Adhi Nugroho, SE Audit
systematic approach to evaluate and Indonesian citizen who graduated from 1. Develop and implement an annual
improve the internal control of the the Faculty of Economics - Accounting internal audit plan.
following aspects: at Trisakti University in Jakarta, and 2. Test and evaluate the
started his career path in the public implementation of the internal
1. Achievement of corporate accounting firm of Hans Tuanakota control and risk management
objectives through effective use of Mustafa since 1999-2004 as the systems in accordance with
resources and efficient. External Auditor, PT Asuransi Bintang company policy.
2. Adherence to policies, Tbk, as the Section Head of Internal 3. Perform inspection and
procedures, laws and regulations. Audit in 2004-2009, PT Asuransi Jiwa assessment the efficiency
3. Reliability reports and report Recapital (Relife) as Department Head and effectiveness in finance,
financial information both of Internal Audit and Compliance in accounting, operations, human
internally and externally. 2009-2012, then in PT Asuransi QBE resources, marketing, information
4. Maintaining corporate assets Pool Indonesia as Risk Management, technology and other activity.
from fraud, misappropriation, or Internal Audit and Compliance in the 4. Provide improvement suggestions
improvidence. year 2012-2013. and information on the activities
examined at all levels of
The Company’s Internal Audit Unit is management.
responsible functionally to the Audit 5. Create an audit report and submit
Committee and administratively the report to the President, Board
directly to the President Director. Thus of Commissioners, and the Audit
the independence and objectivity of Committee.
the internal audit can stay awake while
reporting to the Board of Directors can
be done effectively.

6. Monitor, analyze and report

on implementation of the
improvements that have been
suggested by Auditors.

Growth
For growth
7. Working closely with the Audit
Committee.
8. Compiling a program to evaluate Foundation for
Solid foundation
the quality of the internal audit
activity.
9. Conduct a special inspection if
necessary.
77
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Internal
Control System

Internal control is a process that is run controls to evaluate the effectiveness In addition, monitoring activities
by a Board of Directors, Management, of the control system that has been (supervision) performed by the Internal
and Staff to make reasonable assurance set by the company and help ensure Audit and Environmental Control, the
regarding: the achievement of the Company in company has set an internal control in
carrying out one of the components of terms of Control Activity to establish
• Effectiveness and efficiency of the system of internal control (COSO) is a policy and procedure integrated
operations monitoring (surveillance). management system i.e. QHSE
• Reliability of financial reporting Management System.
• Compliance with applicable laws In fulfilling the internal control
and regulations components in terms of Environment
Control which the Company has
Internal Control System is responsibility a Corporate Value Continues to
of all levels of the Company i.e. Board improve Health, Safety, Environmental
of Commissioners, Management, Responsibility, Quality Service,
Staff and other parties that support Discipline, Teamwork, Cost Awareness
the achievement of organizational and Learning Spirit.
goals. It is started from the Board
of Commissioners as the highest
responsible organ for supervision
and control of the Company with the
Audit Committee as a assistance. In
day to day implementation, Internal
Audit has an active role as a unit
which has function to provide internal
Solid
SolidFoundation
78 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Risk
Management System

Risk management carried out by the related parties, such as the manager The majority of the Company’s oil
Company includes, among others, or bareboat charter tenants. In tankers have been serving international
efforts to manage and reduce the risk addition, all commercial ships sailing in routes including the ASEAN, East
of safety problems on the ship, reduces Indonesian water must be certified by Asia and other regions therefore have
fluctuations in the Company’s voyage or registered in Indonesia Classification undergone audits, surveys, vessel
revenues and minimizes human error Bureau. compliance tests and are accustomed
due the inadequate expertise and skills to complying with strict international
of the crew. The Company has implemented the regulations.
International Safety Management
Risk management performed by the Code standards and most of the Ship Operations and
Company is as follows: Company’s vessels are equipped with Maintenance
two certifications: one from foreign
Ship Classification and countries’ classification institutions One of the risks in the shipping
Certification that are members of the International industry is ship failure. The Company’s
Association of Classification Society ships are in good condition in
To maintain safety within shipping (IACS) such as Lloyds Register, Bureau accordance with domestic needs.
industry, IMO (International Maritime Veritas, Det Norske Veritas and Nippon With proper and regular maintenance
Organization) formulated International Kaiji Kyokai; and the other from throughout their operational life, the
Safety Management Code (ISM Code) Indonesian classification institution, Company’s ships operate optimally
in 1993, which became mandatory in Indonesian Classification Bureau. Not and are ready to compete with other
1998. This code established safety many ships operating in Indonesia are ships in the country. Regular repair and
management objectives and required similarly registered in two classification maintenance can reduce the number
the application of Safety Management institutions. of ship failures and mitigate the risks
System (SMS) by the vessel owner or that may arise and ultimately reduce

costs. In addition, the Company’s minimize the fluctuation of demand for to international standard applied by
ships are periodically and regularly tankers. The Company will continue large oil and gas companies such as
off-hired so that routine inspections to diversify its business in order to ExxonMobil, Shell, ConocoPhillips, and

Growth
For growth
can be performed properly. Our ships further improve its sustainable growth Santos, as well as international crew’s
have also been insured with sufficient and consistent cash flow. Our fleet also skills and expertise standard.
coverage so as not to incur substantial comprised of several types of vessels Foundation for
costs in case of shipwreck or the other with various sizes and specifications The Company has provided engine
Solid foundation

undesired incidents. so as to meet the diverse needs of room mock-up, pump cargo mock-
different customers and to expand up, ship bridge simulator and other
existing business opportunities. equipments so that the crew can
Business and Vessel continue to improve their skills and
Diversification knowledge in line with the latest
Crew Training and industry developments to become
The Company diversifies its business by Development experienced sailors.
79

engaging in several different segments

including oil, gas, offshore (FPSO/FSO) The Company’s crew members The Company is the only private
shipping, and chemical shipping in are trained continuously in order domestic shipping company equipped
PT Buana Listya Tama Tbk

order to prevent revenue dependency to increase their competence and with Transas Navy Trainer 4000 and ERS
on a specific segment. Not all qualifications to ensure the ship can 400 Engine Room Simulators made in
segments engaged by the Company sail safely and efficiently. The Company Russia and meets the standards set by
2013 Annual Report

have a positive correlation with each also continues to increase the quantity Sea Fleet Service of Russia’s Ministry of
other. In fact, at certain moments, and improve the quality of crew, cadet Transport and Marine Safety Agency,
those segments have no influence and ground staff. Crews that manage UK. In addition, the Company has also
whatsoever with each other, which the Company’s ships are accustomed complemented the aforementioned
 2013 Performance Company Profile Human Resources

simulators with Electronic Chart Display Foreign exchange risk Liquidity risk management
and Information System (ECDIS), which management
is a navigation system required by the Board of Directors has prepared an
International Maritime Organization The Company’s foreign exchange risks appropriate liquidity risk management
(IMO) to be equipped on all ships mainly emerge from exchange rate framework in accordance with the
worldwide in 2012. volatility. The Company’s revenues, Company’s short-, medium-, and long-
expenses, trade receivables and term funding and liquidity management
payables and loans are mostly in United requirements. The Company manages
Financial Risk Management States Dollar whilst the accounting liquidity risk by maintaining adequate
Policies records are in United States Dollar. The reserves, banking facilities and loan
Company’s policy is to balance its cash facilities by continuously monitoring
The Company’s financial risk flows from operating and financing forecast and actual cash flows as well
management policies seek to ensure activities by using the same currency. as matching the maturity profiles of
adequate financial resources for its financial assets and liabilities.
operation and business development
while managing exposure to foreign Interest rate risk management
exchange risk, interest rate risk, Credit risk management
liquidity risk and credit risk. The Interest rate risk of the Company arises
Company’ financial risk management mainly from changes in interest rate The Company’s credit risk is primarily
policies are as follows: relating to loans obtained from financial attributable to its cash in banks,
institutions. To manage its interest rate time deposits and receivables. The
risks, the Company optimally balances Company therefore places its bank
between loans with fixed rate and loans balances and time deposits at credible
with floating rate. and trustworthy financial institutions.

The Company aims to realize revenue Carrying value of financial assets in the AFS financial assets are stated at
growth with minimal credit risks consolidated financial statements after fair value measured using asset
exposure. The Company has policies to loss deduction reflects the Company’s based approach with adjusted book
deal with customers who have a good exposure to credit risk. value method and income based on
reputation and good credit history and approach with discounted cash flows
perform strict monitoring to ensure
timely receivables’ collection. Fair Value of Financial
Solid
SolidFoundation

Instruments Adminstrative Penalties

Companies with receivables to the
foundationFor

Company is the companies which Management considers that the During 2013, the Company obtained
have good reputation and have been carrying value of financial assets the following administrative penalties:
dealing with the Company and BLT and financial liabilities recorded at
Group (the Company’s shareholders) in amortized cost in the consolidated
for Growth

the long term. financial statements are the same with

growth

their fair values.

80

No. Date Letter Number Description Status

1 January 10, 2013 S-00178/BEI.PPJ/01-2013 The Third Written Reminder and Penalty of Rp150,000,000 for Late Submission of Paid
PT Buana Listya Tama Tbk

Interim Financial Statement as of September 30, 2012

2 June 5, 2013 S-1375/BEI.PPJ/06-2013 The Third Written Reminder and Penalty of Rp150,000,000 for Late Submission of Paid
Audited Financial Statement as of December 31, 2012
2013 Annual Report

3 June 5, 2013 S-1371/BEI.PPJ/06-2013 The Second Written Reminder and Penalty of Rp50,000,000 for Late Submission of Paid
Interim Financial Statement as of March 31, 2013
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

Corporate Culture
and Code of Conduct

Corporate Culture and Code of 3. Respect and synergize the Quality Service
Conduct differences of others (either in
opinion or behavior). 1. Cultivate a smile and pay attention
Discipline 4. Build inter-department or inter- to personal grooming.
1. Be responsible and serious in division cooperation and 2. Be polite, cheerful and positive in
discharging all duties given and coordination. interpersonal relationships.
obedient to the Company’s 5. Be open and friendly when 3. Be serious in delivering high quality
regulations. communicating with others. products or services.
2. Be fully committed in your work 4. Respond timely to all requests (either
by ensuring the completeness and internal or external customers).
accuracy of your work. Cost Consciousness 5. Reduce customers’ complaints
3. Complete all work on schedule. (either internal or external
4. Be punctual for work and for all 1. Use office equipment, facilities and customers).
meetings. utilities wisely (do not waste
5. Keep your promise (by over- resources).
delivering rather than under- 2. Optimize the capacities/resources of A Learning Spirit
delivering). all Company’s assets and thus
reduce excess capacities to the 1. Take initiative to learn from others
lowest. (be pro-active in listening).
Cooperation 3. Always work within the budget and 2. Take initiative to improve yourself.
spend wisely. 3. Take initiative to share your
1. Always put the interest of the 4. Manage your time and the time of knowledge and learning with others.
team (or the Group interest) ahead others efficiently. 4. Take opportunities to learn from your
of yourself (talk of ‘we’ rather than ‘I’). 5. Be resource-conscious - reduce, work or job assignment.
2. Be supportive of your peers, recycle and reuse. 5. Provide creative solutions in problem
supervisors and subordinates. solving (be innovative).

Foundation for
Solid foundation
81 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 2013 Performance Company Profile Human Resources

Code of Conduct

The Company is committed to always Compassion in relationships with

doing the right thing. That is why the employees and communities affected
Company has this Code of Conduct. by the Company’s business.
The Code is specifically designed to be
part of an effective program to prevent Fairness to fellow employees,
and detect violations of applicable shareholders, customers and suppliers
laws, rules, regulations and Company’s through adherence to all applicable
values. Basic principles of the laws, regulations and policies, and a
Company as reflected in this Code are: high standard of behavior.

Honesty in communicating within Respect for fellow employees,

the Company and with suppliers and shareholders, customers and suppliers
customers, while at the same time while showing willingness to solicit
protecting the Company’s confidential their opinions and value their feedback.
information.

Quality in the services, by striving to

provide services exceeding customers’
requirements.

Responsibility for words and actions,

confirms the commitment to do what
has been said.
Solid
SolidFoundation
82 foundationFor
for Growth
growth
PT Buana Listya Tama Tbk
2013 Annual Report
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

WhistleBlowing System

The Company has implemented Since the launch of the

complaint mechanism called public reporting system, the
complaint system. Company has not received
any complaint and report
Media for public complaints are as associated with violations.
follows:
• Correspondence: The Company is committed
Corporate Secretary to following up on and
PT Buana Listya Tama Tbk addressing each complaint
as part of the Company’s
• Danatama Square 2 commitment to the
Mega Kuningan Timur Road,
implementation of GCG.
Blok C.6 Kav. 12A,
Mega Kuningan Area,
South Jakarta
12950 - Indonesia
Tel. +62 21 3048 5700
Fax. +62 21 3048 5701
Website : www.bull.co.id
Email : [email protected]

Foundation for
Solid foundation
83 Growth
For growth
PT Buana Listya Tama Tbk
2013 Annual Report
 06
Corporate Social
Responsibility
More Than Just a Commitment 86

Quality, Health, Safety, and Environment 86

Social and Community Development 87

Solid
SolidFoundation
foundationFor
for Growth
growth

“PT Buana Listya Tama Tbk is committed to becoming part

of the efforts to improve the quality of life in Indonesia
through the industry it operates in. This is the basis
84

of our corporate social responsibility programs and

activities in accordance with the Company’s core values
PT Buana Listya Tama Tbk

to continuously improvE health, safety, environmental

responsibility, quality service, discipline, and cooperation.”
2013 Annual Report

Vicky Ganda Saputra - administration director

PT Buana Listya Tama Tbk
85 Solid foundation
Foundation for
For growth
Growth
2013 Annual Report
 2013 Performance Company Profile Human Resources

Since its establishment, the Company

never faced any litigation related to
oil spill or environmental pollution
caused by its operational activities.
This clean slate indicates the strict
implementation of the Company’s
standard operational procedures
that to date has been successful in
preventing unwanted incidents.

Quality, Health, Safety, and

More Than Environment
In its commitment to maintain and improve Quality,
Just a Commitment Environment, Health and Safety standards, the Company
formulated the following policies:

Ever since its establishment in 2005, PT Buana

1. Increase and improve the quality, health, safety and
Listya Tama Tbk (BULL) has been keenly aware of
environment practices in all operational aspects to
its responsibility to its employees, communities, and
achieve customer satisfaction.
environments where it conducts its business. The
2. Comply with legal and other applicable requirements.
awareness is solely based on the sincerity to provide
3. Ensure and improve the awareness of quality, health,
meaningful contributions to all stakeholders. It also
safety and environment among employees, temporary
has driven the management and subsidiaries to carry
workers, contractor personnel, visitors, and all others
Dasar

out meaningful Corporate Social Responsibility (CSR)

with whom the Company has a contract, both in and
Solid

programs and activities as the Company celebrated its

out of the work environment.
Kokoh

8th anniversary.
4. Ensure and improve the quality, health, safety and
Foundation

environment standards among employees, temporary

Untuk Pertumbuhan

To date, the Company had formulated, implemented,

workers, contractors, and visitors in the work
conducted, and managed integrated, comprehensive,
environment.
and sustainable CSR programs and activities in the best
For Growth

5. Encourage, by example, a healthy attitude about

interest of the general public and to prevent casualties,
environmental protection, both inside and outside the
sailing ship accidents, as well as marine pollution. The
work zone.
Company’s CSR Vision is clear: become part of the
6. Provide pre-recruitment, routine, and special medical
process to improve the quality of domestic shipping
examination for employees.
industry’s services.
86
PT Buana Listya Tama Tbk
Laporan
2013 Tahunan
Annual Report
2013
 Management Discussion & Analysis Good Corporate Governance Corporate Social Responsibility

In addition, the Company also implemented Stop The Company’s mission in terms of safety and
Working Authority (SWA) policy. The policy bestows environmental preservation is to serve the public interest,
employees, contract consultants, contractors, third as well as the customers’ needs by preventing loss of
party service providers, or visitors the responsibility life, marine casualties and incidents, and environmental
to contribute to the creation of safe, healthy and pollution.
environmentally friendly workplaces. The Company
assures that no one is expected or forced to perform The Company is equipped with standard operational
unsafe or environmentally unfriendly work. Stop Working procedures comprised of safety and environmental
Policy Authority (SWA) grants everyone in the Company’s protection procedures at sea, as well as environmental
facility, location or property, the right, obligation, safety trainings conducted continuously.
authority and responsibility to cease operational activities
that are considered unsafe for personnel, equipments, Since its establishment, the Company has never faced
and the environment. any litigation related to oil spill or environmental pollution
caused by its operational activities. This clean slate
This policy was made to emphasize the purpose of indicates the strict implementation of the Company’s
the Company and all of its operations, to eliminate the standard operational procedures that to date has been
possibility of injury, property damage and harmful effects successful in preventing unwanted incidents.
to the environment.
As a further anticipation and protection measure, the
By complying with labor standards and safety practices, Company has insured each of its tankers against oil spill
there were no accidents in both onshore facilities and in with a maximum coverage of USD1,000,000,000 and
the back office in 2013. USD50,000,000 for its floating storage vessels.

Social and Community

Development
As a good corporate citizen, the Company always strives to give

ForPertumbuhan
significant contribution to the community. The Company believes that

Growth
the mutually beneficial relationship between the Company and local
stakeholders must be fostered. Kokoh Untuk
DasarFoundation

Thus, social and community development is a vital component of the

BULL’s CSR activities, through which the Company directly interacts with
Solid

the communities where it conducts its business. This is the reason why
the Company designed various types of social development programs
87

involving its subsidiaries and local stakeholders to ensure maximum

benefit for all.
PT Buana Listya Tama Tbk
Annual
Laporan
2013 2013
Report
Tahunan
This Page Is Intentionally Left Blank
PT Buana Listya Tama Tbk
SolidFoundation
Solid foundationFor
for Growth
growth 88
2013 Annual Report
Responsibility Statement
Letter of 2013
Annual Report

We the undersigned hereby declare that the information contained in

the Annual Report of PT Buana Listya Tama Tbk for Financial Year
2013 has been completed and we are fully responsible for the accuracy
of the content of the Company’s Annual Report.

This statement has been made truthfully.

Board of Commissioners

Adhi Utomo Jusman

President Commissioner

Michael Murni Gunawan Iwan Sutadi

Commissioner Commissioner

Board of Directors

Foundation for
Solid foundation Growth
For growth

Wong Kevin
President Director
89
PT Buana Listya Tama Tbk
2013 Annual Report

Henrianto Kuswendi Vicky Ganda Saputra Rizal

Director Director Director
This Page Is Intentionally Left Blank
PT Buana Listya Tama Tbk
Solid foundation for growth
2013 Annual Report
 Financial Statement
Consolidated

PT Buana Listya Tama Tbk

91 Solid foundation for growth
2013 Annual Report
Solid foundation for growth
 The original consolidated financial statements are in the Indonesian language

Ekshibit A Exhibit A

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 DESEMBER 2013 31 DECEMBER 2013

Catatan/
Notes 31/12/2013 31/12/2012
US$ US$

ASET ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan setara kas 4 7.086.849 2.713.081 Cash and cash equivalents
Aset keuangan lancar lainnya 5 39.817.298 54.305.000 Other current financial assets
Piutang usaha 6 Trade receivables
Pihak berelasi 457.015 3.107.763 Related parties
Pihak ketiga 4.578.021 14.495.088 Third parties
Piutang lain-lain 568.379 653.993 Other receivables
Piutang kepada pihak berelasi 9 - 8.142.241 Receivables from related parties
Persediaan 7 901.435 1.745.167 Inventories
Pajak dibayar dimuka 13 294.078 1.063.571 Prepaid taxes
Biaya dibayar dimuka 8 2.035.026 3.668.182 Prepaid expenses

Jumlah aset lancar 55.738.101 89.894.086 Total current assets

ASET TIDAK LANCAR NON-CURRENT ASSETS

Piutang kepada pihak berelasi 9 81.161.265 87.727.385 Receivables from related parties
Aset pajak tangguhan 13 81.034 109.732 Deferred tax assets
Aset tetap - setelah dikurangi akumulasi Fixed assets -
penyusutan sebesar US$ 67.594.524 net of accumulated depreciation of
pada tanggal 31 Desember 2013 US$ 67,594,524 as of 31 December 2013
dan (2012: US$ 96.532.367) 10 119.162.448 156.657.127 and (2012: US$ 96,532,367)

Jumlah aset tidak lancar 200.404.747 244.494.244 Total non-current assets

JUMLAH ASET 256.142.848 334.388.330 TOTAL ASSETS

Lihat catatan atas laporan keuangan konsolidasian pada Ekshibit E See accompanying notes to consolidated financial statements on
yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari laporan keuangan konsolidasian secara keseluruhan. the consolidated financial statements taken as whole.
 The original consolidated financial statements are in the Indonesian language

Ekshibit A/2 Exhibit A/2

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 DESEMBER 2013 31 DECEMBER 2013

Catatan/
Notes 31/12/2013 31/12/2012
US$ US$

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Pinjaman jangka pendek 11 - 35.747.100 Short-term loans
Utang usaha 12 Trade payables
Pihak berelasi 3.808.617 19.034.349 Related parties
Pihak ketiga 9.497.095 16.657.500 Third parties
Utang lain-lain 353.791 736.155 Other payables
Utang pajak 13 940.068 1.014.116 Taxes payable
Beban akrual 14 8.699.165 6.034.186 Accrued expenses
Pinjaman jangka panjang jatuh tempo Current maturities of
dalam satu tahun 15 6.717.470 5.186.603 long-term loans

Jumlah liabilitas jangka pendek 30.016.206 84.410.009 Total current liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

Pinjaman jangka panjang - setelah
dikurangi bagian jatuh tempo Long-term loans - net
dalam satu tahun 15 122.871.106 102.935.761 of current maturities
Provisi imbalan pasca-kerja 16 1.670.606 2.327.692 Provision for post-employment benefits

Jumlah liabilitas jangka panjang 124.541.712 105.263.453 Total non-current liabilities

Jumlah liabilitas 154.557.918 189.673.462 Total liabilities

EKUITAS EQUITY
Modal saham - nilai nominal Rp 100 Share capital - Rp 100 par value
per saham per share
Modal dasar - 44.000 juta saham Authorized capital - 44,000 million shares
Modal ditempatkan dan disetor - Issued and paid-up -
17.650 juta saham 17 198.286.419 198.286.419 17,650 million shares
Tambahan modal disetor 18 34.201.838 34.349.292 Additional paid in capital
Cadangan 19 5.606.894 7.464.083 Reserves
Difference in value of restructuring
Selisih nilai transaksi restrukturisasi transactions among entities
entitas sepengendali 20 - (147.454) under common control
Defisit (136.510.448) (95.237.472) Deficit

Ekuitas yang dapat diatribusikan Equity attributable to owners

kepada pemilik Perusahaan 101.584.703 144.714.868 of the Company
Kepentingan non-pengendali 227 - Non-controlling interests

Jumlah ekuitas 101.584.930 144.714.868 Total equity

JUMLAH LIABILITAS DAN EKUITAS 256.142.848 334.388.330 TOTAL LIABILITIES AND EQUITY

Lihat catatan atas laporan keuangan konsolidasian pada Ekshibit E See accompanying notes to consolidated financial statements on
yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari laporan keuangan konsolidasian secara keseluruhan. the consolidated financial statements taken as whole.
 The original consolidated financial statements are in the Indonesian language

Ekshibit B Exhibit B

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

Catatan/
Notes 2013 2012
US$ US$

PENDAPATAN 21 47.401.704 69.789.953 REVENUES

BEBAN LANGSUNG 22 39.991.659 56.095.094 DIRECT COSTS

LABA KOTOR 7.410.045 13.694.859 GROSS PROFIT

Beban administrasi 23 (5.536.785) (6.002.860) Administrative expense

Keuntungan kurs mata uang asing- bersih 15.046.751 3.975.928 Gain on foreign exchange - net
Kenaikan surplus revaluasi kapal 4.169.228 17.857.384 Increase in revaluation of vessels
Kerugian penurunan nilai aset keuangan Loss on impairment of available-for-sale
tersedia untuk dijual 5 (25.090.000) - financial assets
Kerugian penjualan aset tetap 10 (17.307.057) - Loss on sale of fixed assets
Beban keuangan 24 (10.966.464) (18.152.173) Finance costs
Kerugian lain-lain - bersih 25 (8.830.159) (6.586.596) Other losses - net

LABA (RUGI) SEBELUM PAJAK (41.104.441) 4.786.542 PROFIT (LOSS) BEFORE TAX

BEBAN PAJAK 13 (568.773) (899.582) TAX EXPENSE

LABA (RUGI) TAHUN BERJALAN (41.673.214) 3.886.960 PROFIT (LOSS) FOR THE YEAR

PENDAPATAN (RUGI) KOMPREHENSIF LAIN 19 OTHER COMPREHENSIVE INCOME (LOSS)

Surplus revaluasi kapal (1.151.989) (11.976.487) Revaluation surplus on vessels
Kenaikan (penurunan) nilai wajar Increase (decrease) in fair value of
aset keuangan tersedia untuk dijual (305.000) 305.000 available-for-sale financial assets

Jumlah (1.456.989) (11.671.487) Total

JUMLAH RUGI KOMPREHENSIF TOTAL COMPREHENSIVE LOSS

TAHUN BERJALAN (43.130.203) (7.784.527) FOR THE YEAR

LABA (RUGI) YANG DAPAT

DIATRIBUSIKAN KEPADA: PROFIT (LOSS) ATTRIBUTABLE TO:
Pemilik Perusahaan (41.673.176) 3.886.960 Owners of the Company
Kepentingan non-pengendali (38) - Non-controlling interests

Jumlah (41.673.214) 3.886.960 Total

JUMLAH RUGI KOMPREHENSIF YANG TOTAL COMPREHENSIVE LOSS

DAPAT DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Pemilik Perusahaan (43.130.203) (7.784.527) Owners of the Company
Kepentingan non-pengendali - - Non-controlling interests

Jumlah (43.130.203) (7.784.527) Total

LABA (RUGI) PER SAHAM DASAR BASIC EARNINGS (LOSS) PER SHARE
(dalam nilai penuh) 26 (0,0024) 0,0002 (in full amount)

Lihat catatan atas laporan keuangan konsolidasian pada Ekshibit E See accompanying notes to consolidated financial statements on
yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari laporan keuangan konsolidasian secara keseluruhan. the consolidated financial statements taken as whole.
 The original consolidated financial statements are in the Indonesian language

Ekshibit C Exhibit C

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

Selisih nilai
Modal proforma transaksi
berasal dari restrukturisasi Ekuitas
restrukturisasi entitas yang dapat
dengan entitas sepengendali/ diatribusikan
Tambahan sepengendali/ Cadangan Difference in kepada pemilik
Modal Proforma capital revaluasi value of Perusahaan/
disetor/ arising from Surplus investasi/ restructuring Equity Kepentingan Jumlah
Modal Additional restructuring revaluasi/ Investment transactions attributable to non-pengendali/ ekuitas/
Catatan/ disetor/ paid- in of entities under Revaluation revaluation under common Defisit/ owners of Non-controlling Total
Notes Share capital capital common control reserves reserves control Deficit the Company interests equity
US$ US$ US$ US$ US$ US$ US$ US$ US$ US$

Saldo per 01/01/2012 sebelum reklasifikasi 198.286.419 34.349.292 5.025.598 16.014.650 - (1.613.138) (99.460.685) 152.602.136 690 152.602.826 Balance as of 01/01/ 2012 before reclassification
Pengaruh reklasifikasi akun 34 - - (3.457.173) 3.457.173 - - - - - - Impact of reclassification of accounts
Saldo per 01/01/2012 setelah reklasifikasi 198.286.419 34.349.292 1.568.425 19.471.823 - (1.613.138) (99.460.685) 152.602.136 690 152.602.826 Balance as of 01/01/ 2012 after reclassification
Modal proforma berasal dari restrukturisasi Proforma capital arising from
dengan entitas sepengendali - - (1.568.425) - - - - (1.568.425) - (1.568.425) restructuring of entities under common control
Selisih nilai transaksi Difference in value of restructuring
restrukturisasi entitas transactions among entities
sepengendali 2 - - - - - 1.465.684 - 1.465.684 - 1.465.684 under common control
Laba tahun berjalan - - - - - - 3.886.960 3.886.960 - 3.886.960 Profit for the year
Pendapatan komprehensif Other comprehensive income (loss)
lain tahun berjalan - - - (11.976.487) 305.000 - - (11.671.487) - (11.671.487) for the year
Transfer ke defisit 19 - - - (336.253) - - 336.253 - - - Transfer to deficit
Lain-lain - - - - - - - - (690) (690) Other

Saldo per 31/12/2012 198.286.419 34.349.292 - 7.159.083 305.000 (147.454) (95.237.472) 144.714.868 - 144.714.868 Balance as of 31/12/ 2012
Penyesuaian berdasarkan ketentuan Adjustment in accordance with the
transisi Pernyataan Standar transitional provision of Statements of
Akuntansi Keuangan (PSAK) No. 38 Financial Accounting Standards (PSAK) No. 38
(Revisi 2012), "Kombinasi Bisnis (Revised 2012) "Business Combination of
Entitas Sepengendali" 2 - (147.454) - - - 147.454 - - - - Entities Under Common Control"
Rugi tahun berjalan - - - - - - (41.673.176) (41.673.176) (38) (41.673.214) Loss for the year
Rugi komprehensif Other comprehensive loss
lain tahun berjalan - - - (1.151.989) (305.000) - - (1.456.989) - (1.456.989) for the year
Transfer ke defisit 19 - - - (400.200) - - 400.200 - - - Transfer to deficit
Lain-lain - - - - - - - - 265 265 Other

Saldo per 31/12/2013 198.286.419 34.201.838 - 5.606.894 - - (136.510.448) 101.584.703 227 101.584.930 Balance as of 31/12/ 2013

Lihat catatan atas laporan keuangan konsolidasian pada Ekshibit E See accompanying notes to consolidated financial statements on
yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari laporan keuangan konsolidasian secara keseluruhan. the consolidated financial statements taken as whole.
 The original consolidated financial statements are the Indonesian language

Ekshibit D Exhibit D

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012
US$ US$

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 60.055.133 78.267.338 Cash receipts from customers
Pembayaran pada pemasok (27.477.938) (22.126.657) Cash paid to suppliers
Pembayaran pada karyawan (10.891.337) (15.311.168) Cash paid to employees

Kas dihasilkan dari operasi 21.685.858 40.829.513 Cash generated from operations
Pembayaran pajak penghasilan (655.487) (679.696) Income tax paid
Pembayaran beban keuangan (9.569.502) (14.253.927) Financial cost paid

Kas bersih diperoleh dari Net cash provided by

aktivitas operasi 11.460.869 25.895.890 operating activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES
Penerimaan bunga 14.245 7.594 Interest received
Kenaikan kas yang dibatasi penggunaannya (10.907.017) - Increase in restricted cash
Penjualan aset tetap 13.317.977 210.365 Proceeds from sale of fixed assets
Perolehan aset tetap (628.794) (7.582.849) Acquisition of fixed assets

Kas bersih diperoleh dari (digunakan untuk) Net cash provided by (used in)
aktivitas investasi 1.796.411 (7.364.890) investing activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES
Perubahan piutang kepada pihak berelasi (4.276.459) (7.433.900) Changes in receivable from related parties
Pembayaran pinjaman jangka panjang (4.637.493) (12.190.162) Payment of long-term loans

Kas bersih digunakan untuk Net cash used in

aktivitas pendanaan (8.913.952) (19.624.062) financing activities

KENAIKAN (PENURUNAN) BERSIH NET INCREASE (DECREASE) IN

KAS DAN SETARA KAS 4.343.328 (1.093.062) CASH AND CASH EQUIVALENTS

Pengaruh perubahan kurs mata uang asing 30.440 - Effect of exchange rate changes

CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS AWAL TAHUN 2.713.081 3.806.143 AT BEGINNING OF THE YEAR

CASH AND CASH EQUIVALENTS

KAS DAN SETARA KAS AKHIR TAHUN 7.086.849 2.713.081 AT END OF THE YEAR

Lihat catatan atas laporan keuangan konsolidasian pada Ekshibit E See accompanying notes to consolidated financial statements on
yang merupakan bagian yang tidak terpisahkan Exhibit E which are an integral part of
dari laporan keuangan konsolidasian secara keseluruhan. the consolidated financial statements taken as whole.
 Ekshibit E Exhibit E

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

1. UMUM 1. GENERAL

a. Pendirian dan informasi umum a. Establishment and general information

PT Buana Listya Tama Tbk (”Perusahaan”) PT Buana Listya Tama Tbk (the “Company”)
didirikan berdasarkan akta No. 27 tanggal was established based on notarial deed
12 Mei 2005 dari Ny. Lilik Kristiwati, S.H., No. 27 dated 12 May 2005 of Ny. Lilik
notaris di Jakarta. Akta pendirian tersebut Kristiwati, S.H., notary in Jakarta. The deed
disahkan oleh Menteri Hukum dan Hak Asasi of establishment was approved by the
Manusia Republik Indonesia dalam Surat Minister of Law and Human Rights of the
Keputusannya No. C-26012.HT.01.01.TH.2005 Republic of Indonesia in his Decision Letter
tanggal 21 September 2005 serta diumumkan No. C-26012.HT.01.01.TH.2005 dated
dalam Berita Negara Repubik Indonesia No. 79 21 September 2005 and was published in
tanggal 3 Oktober 2006, Tambahan 10555. State Gazette No. 79 dated 3 October 2006,
Anggaran Dasar Perusahaan telah mengalami Supplement No. 10555. The Company’s
beberapa kali perubahan, terakhir dengan akta articles of association have been amended
No. 225 tanggal 28 Juni 2013 dari Humberg Lie, several times, most recently by notarial deed
S.H., S.E., M.Kn., notaris di Jakarta, dalam No. 225 dated 28 June 2013 from Humberg
rangka perubahan susunan pengurus perseroan Lie, S.H., S.E., M.Kn., notary in Jakarta,
Perusahaan. Akta perubahan ini telah concerning changes in the Company
mendapat persetujuan dari Menteri Hukum dan management. This change was approved by
Hak Asasi Manusia Republik Indonesia dengan the Minister of Law and Human Rights of the
Surat Keputusannya No. AHU-0018853.AH.01.09 Republic of Indonesia in his decision letter
Tahun 2013 tanggal 12 Desember 2013. No. AHU-0018853.AH.01.09 Tahun 2013 dated
12 December 2013.

Mulai tanggal 29 Januari 2014, Perusahaan Starting 29 January 2014, the Company is
beralamat di Danatama Square II, Jl. Mega located in Danatama Square II, Jl.XMega
Kuningan Timur, Blok C6 Kav. 12A, Jakarta Kuningan Timur, Blok C6 Kav. 12A, Jakarta
Selatan. Sebelumnya Perusahaan berlokasi di Selatan. Previously, the Company was located
Wisma Bina Surya Grup (BSG), Lantai 10, in Wisma Bina Surya Group (BSG), 10th floor,
Jl. Abdul Muis No. 40, Jakarta. Perusahaan Jl. Abdul Muis No. 40, Jakarta. The Company
mulai beroperasi secara komersial sejak 2005. started its commercial operations in 2005.

Sesuai dengan pasal 3 anggaran dasar In accordance with article 3 of the Company’s
Perusahaan, ruang lingkup kegiatan Perusahaan articles of association, the scope of its
meliputi usaha bidang perkapalan dalam dan activities comprise of local and overseas
luar negeri dengan menggunakan kapal-kapal, shipping, including but not limited to tanker,
termasuk tetapi tidak terbatas pada kapal barges and tugboat operations.
tanker, tongkang, dan kapal tunda (tugboat).

b. Dewan Komisaris, Direksi, Komite Audit dan b. Board of Commissioners, Directors, Audit
Karyawan Committee and Employees

Susunan anggota Dewan Komisaris dan Direksi The members of the Company's Boards of
Perusahaan adalah sebagai berikut : Commissioners and Directors are as follows:

31/12/2013 31/12/2012

Komisaris Utama Adhi Utomo Jusman Widihardja Tanudjaja President Commissioner

Komisaris Michael Murni Gunawan Michael Murni Gunawan Commissioner
Komisaris Independen Iwan Sutadi Hie Vivi Junaedi *) Independent Commissioner

Direktur Utama Wong Kevin Henrianto Kuswendi President Director

Direktur Henrianto Kuswendi Wong Kevin Directors
Vicky Ganda Saputra Siana Anggraeni Surya
Direktur Tidak Terafiliasi Rizal Rizal Non-affiliated Director

*) Mengundurkan diri pada tanggal 9 Februari 2012 *) Resignation on 9 February 2012

 Ekshibit E/2 Exhibit E/2

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

1. UMUM (Lanjutan) 1. GENERAL (Continued)

b. Dewan Komisaris, Direksi, Komite Audit dan b. Board of Commissioners, Directors, Audit
Karyawan (Lanjutan) Committee and Employees (Continued)

Susunan Komite Audit dan Sekretaris The composition of the Audit Committee and
Perusahaan adalah sebagai berikut: the Corporate Secretary are as follows:

31/12/2013 31/12/2012

Ketua Iwan Sutadi Hie Vivi Junaedi Chairman

Anggota Hadiyanto Lim - Members
Vijay Yonathan -

Sekretaris Perusahaan Vicky Ganda Saputra Wong Kevin Corporate Secretary

Pada tanggal 31 Desember 2013, Perusahaan As at 31 December 2013, the Company and its
dan entitas anak memiliki 115 karyawan (2012: subsidiaries had 115 employees (2012: 122
122 karyawan) (tidak diaudit). employees) (unaudited).

Perusahaan bersama-sama dengan entitas anak The Company together with its subsidiaries
akan selanjutnya disebut “Grup”. will be herein after referred to as the
“Group”.

c. Penawaran umum saham Perusahaan c. Public offering of the Company’s shares

Pada tanggal 10 Mei 2011, Perusahaan On 10 May 2011, the Company obtained the
memperoleh pernyataan efektif dari Ketua notice of effectivity from the Chairman of
BAPEPAM-LK dalam surat No. S/5214/BL/2011 the BAPEPAM-LK in his decision letter
untuk melakukan penawaran umum 6.650 juta No. S/5214/BL/2011 for the initial public
saham dengan nilai nominal Rp 100 per saham offering of 6,650 million shares with a par
dan harga penawaran Rp 155 per saham. value of Rp 100 per share and offering price
Perusahaan juga menerbitkan 3.325 miliar of Rp 155 per share. The Company issued
waran Seri I. Waran Seri I diberikan kepada 3,325 billion Warrants Series I. Series I
setiap pemegang 2 saham yang namanya warrants is granted free of charge to each
tercatat pada saat penjatahan saham yang holder of 2 shares whose names are recorded
diberikan secara cuma-cuma. Setiap pemegang at time of shares allotment. Each
satu waran berhak membeli satu saham biasa shareholder has the right to purchase one
dengan harga pelaksanaan sebesar Rp 170 per common share at an exercise price of Rp 170
saham selama periode pelaksanaan mulai per share within exercise period from
tanggal 23 Nopember 2011 sampai dengan 23 November 2011 until 22 May 2014.
tanggal 22 Mei 2014.

Jumlah modal ditempatkan dan disetor The Company’s issued and paid-up capital
Perusahaan sebelum melakukan penawaran before initial public offering was 11,000
umum sebanyak 11.000 juta saham dengan million shares with a par value of Rp 100 per
nilai nominal Rp 100 per saham. Perusahaan share. The Company listed all its shares of
mencatatkan seluruh sahamnya sebanyak 17,650 million shares on the Indonesia Stock
17.650 juta saham pada Bursa Efek Indonesia Exchange on 21 May 2011.
pada tanggal 21 Mei 2011.

Pada tanggal 31 Desember 2013, seluruh As of 31 December 2013, all 17,650 million
17.650 juta saham yang beredar Perusahaan issued shares of the Company have been
telah dicatatkan pada Bursa Efek Indonesia. listed on the Indonesia Stock Exchange.
 Ekshibit E/3 Exhibit E/3

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

1. UMUM (Lanjutan) 1. GENERAL (Continued)

d. Struktur Grup d. The Group’s structure
Perusahaan mengendalikan entitas anak The Company has control of the following
berikut, yang semuanya berdomisili di subsidiaries which are domiciled in Indonesia,
Indonesia, kecuali BLT Shipping Corporation except for BLT Shipping Corporation and BLT
dan BLT Marina Shipping Corporation, yang Marina Shipping Corporation, which are
berdomisili di British Virgin Island. domiciled in British Virgin Island.
Tahun
operasi Persentase Jumlah aset
komersial/ pemilikan efektif/ sebelum eliminasi/
Start of Efective percentage Total assets
Bidang usaha/ commercial of ownership before elimination
Entitas Anak/Subsidiaries Type of business operations 31/12/2013 31/12/2012 31/12/2013 31/12/2012
US$ US$

PT Pearl Maritime **) Pengoperasian & pemilikan kapal/ 2006 100% 100% 1.375.572 13.433.431
Owner and operator of vessel
PT Ruby Maritime **) Pengoperasian & pemilikan kapal/ 2009 100% 100% 19.992.468 24.224.043
Owner and operator of vessel
PT Sapphire Maritime **) Pengoperasian & pemilikan kapal/ 2009 100% 100% 29.965.866 43.408.916
Owner and operator of vessel
PT Citrine Maritime **) Pengoperasian & pemilikan kapal/ 2006 100% 100% 10.530.598 30.826.357
Owner and operator of vessel
PT Diamond Maritime **) Pengoperasian & pemilikan kapal/ 2006 100% 100% 21.372 21.551.082
Owner and operator of vessel
PT Emerald Maritime **) Pengoperasian & pemilikan kapal/ 2006 100% 100% 47.269.977 86.021.754
Owner and operator of vessel
PT Karya Bakti Adil (KBA) **) Jasa penyediaan tenaga kerja 2004 100% 100% 308.034 174.195.512
kepada pemilik kapal/Providing
crewing services to ship owners
PT Gemilang Bina Lintas Tirta **) Jasa Keagenan Perkapalan/ 2004 100% 100% 3.890.877 23.658.117
Shipping agency
BLT Shipping Corporation Investasi/Investment 2011 100% 100% 28.910.000 54.305.000
PT Banyu Laju Shipping **) Pengoperasian & pemilikan kapal/ 1991 100% 100% 8.873.769 28.028.354
Owner and operator of vessel
PT Anjasmoro Maritime *) Tidak aktif/ Dormant - 100% 100% 205 18.450
PT Jade Maritime **) Tidak aktif/ Dormant - 100% 100% - 26.449
PT Onyx Maritime **) Tidak aktif/ Dormant - 100% 100% - 24.789
PT Topaz Maritime **) Tidak aktif/ Dormant - 100% 100% - 14.285
PT BLT International Group **) Tidak aktif/ Dormant - 100% 100% - 27.017
PT Bayu Lestari Tanaya ***) Tidak aktif/ Dormant - 100% 100% 11.927 633.123
BLT Marina Shipping Corporation Tidak aktif/ Dormant - 100% 100% 47.085 50.000
PT Berlian Dumai Logistics ****) Tidak aktif/ Dormant - 99% 99% - 630.413

*) Terdapat pemilikan tidak langsung tidak signifikan melalui/There is insignificant indirect ownership through PT Citrine Maritime
**) Terdapat pemilikan tidak langsung tidak signifikan melalui/There is insignificant indirect ownerhsip through PT Bayu Lestari Tanaya
***) Terdapat pemilikan tidak langsung tidak signifikan melalui/There is insignificant Indirect ownership through PT Anjasmoro Maritime
****) Terdapat pemilikan tidak signifikan oleh/There is insignificant ownership by PT Berlian Laju Tanker Tbk.

Berdasarkan perjanjian jual beli saham tanggal Based on share purchase agreement dated
27 Juni 2012, Perusahaan dan PT Bayu Lestari 27 June 2012, the Company and PT Bayu
Tanaya, entitas anak, telah setuju untuk Lestari Tanaya, a subsidiary, agreed to
membeli 500 saham atau 100% kepemilikan acquire 500 shares or 100% share ownership
saham pada PT Banyu Laju Shipping dengan in PT Banyu Laju Shipping at par value
harga nominal sebesar Rp 974.500 ribu dari amounted to Rp 974,500 thousand from
PT Berlian Laju Tanker Tbk (BLT) dan PT Berlian Laju Tanker Tbk (BLT) and
PT Brotojoyo Maritime. Akuisisi ini dilakukan PT Brotojoyo Maritime. This acquisition was
antara entitas sepengendali sehingga made among entities under common control
diperlakukan dengan metode penyatuan and is accounted for using the pooling of
kepemilikan. interest method.

Pada tahun 2012, Perusahaan tergabung dalam In 2012, the Company is one of the companies
kelompok usaha Grup Berlian Laju Tanker. in Berlian Laju Tanker Group.
 Ekshibit E/4 Exhibit E/4

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN POLICIES

a. Dasar penyusunan laporan keuangan a. Basis of preparation of consolidated

konsolidasian financial statement

Laporan keuangan konsolidasian telah disusun The consolidated financial statements have
dan disajikan sesuai dengan Standar Akuntansi been prepared and presented in accordance
Keuangan di Indonesia, yang mencakup with Indonesian Financial Accounting
Pernyataan dan Interpretasi yang dikeluarkan Standards, which includes the standards and
oleh Dewan Standar Akuntansi Keuangan Ikatan interpretations issued by the Financial
Akuntan Indonesia serta peraturan regulator Accounting Standards Board of Institute of
pasar modal, kecuali untuk pengaruh terhadap Accountants in Indonesia, along with capital
hal-hal yang dijelaskan pada Catatan 9 dan 11. market regulations, except for the effect of
the matters described in Notes 9 and 11.

Laporan keuangan konsolidasian telah disusun The consolidated financial statements have
dengan dasar kelangsungan usaha dengan been prepared under going concern basis
anggapan bahwa Grup mampu melaksanakan which assumes that the Group will be able to
rencana manajemen, mengelola usahanya dan execute its management plans, manage its
risiko keuangan dengan berhasil serta memiliki business and financial risks successfully and
sumber daya yang memadai untuk melanjutkan has adequate resources to continue in
kelangsungan operasionalnya di masa datang, operational existence for the foreseeable
seperti diungkapkan dalam Catatan 32. future, as discussed in Note 32.

Dasar penyusunan laporan keuangan The consolidated financial statements,

konsolidasian, kecuali untuk laporan arus kas except for the consolidated statements of
konsolidasian, adalah dasar akrual. Laporan cash flows, are prepared under the accrual
keuangan konsolidasian disusun berdasarkan basis of accounting. The measurement basis
biaya historis, kecuali beberapa akun tertentu used is the historical cost, except for certain
disusun berdasarkan pengukuran lain accounts which are measured on the bases
sebagaimana diuraikan dalam kebijakan described in the related accounting policies.
akuntansi masing-masing akun tersebut. Biaya Historical cost is generally based on the fair
historis pada umumnya berdasarkan nilai wajar value of consideration given in exchange for
yang digunakan pada saat pertukaran aset. assets.

Laporan arus kas konsolidasian disusun dengan The consolidated statements of cash flows
menggunakan metode langsung dengan are prepared using the direct method with
mengelompokkan arus kas dalam aktivitas classifications of cash flows into operating,
operasi, investasi dan pendanaan. investing and financing activities.

Mata uang pelaporan yang digunakan pada The reporting currency used in the
laporan keuangan konsolidasian adalah Dolar preparation of the consolidated financial
Amerika Serikat (US$), yang merupakan mata statements is the United States Dollar (US$),
uang fungsional Perusahaan. which is also the Company’s functional
currency.

Kebijakan akuntansi yang diadopsi konsisten Accounting policies adopted are consistent
dengan kebijakan akuntansi tahun with those of the previous year, except for
sebelumnya, kecuali untuk pengaruh terhadap for the effect of the matters described in
hal-hal yang dijelaskan pada Catatan 9 dan 11 Notes 9 and 11 and the adoption of the new
dan bagi adopsian pernyataan dan interpretasi and revised standards and interpretations
baru dan revisian yang berlaku efektif pada that became effective on or after 1 January
atau setelah tanggal 1 Januari 2013. Perubahan 2013. Changes to the Group's accounting
kebijakan akuntansi Grup, dibuat sebagaimana policies have been made as required, in
disyaratkan ketentuan yang terkait dengan accordance with the requirement of
masing-masing pernyataan dan interpretasi. respective standards and interpretations.
 Ekshibit E/5 Exhibit E/5

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

a. Dasar penyusunan laporan keuangan a. Basis of preparation of consolidated

konsolidasian (Lanjutan) financial statement (Continued)

Adopsi standar yang berlaku pada periode Adoption of standards effective in the
berjalan current period

 Pernyataan Standar Akuntansi Keuangan  Statement of Financial Accounting

(PSAK) 38 (Revisi 2012), “Kombinasi Bisnis Standard (PSAK) 38 (Revised 2012),
Entitas Sepengendali” yang menjadi “Business Combination on Entities Under
efektif pada tanggal 1 Januari 2013, telah Common Control” that became effective
diadopsi dan mempengaruhi laporan from annual periods starting 1 January
keuangan konsolidasian tahun 2013. 2013, has been adopted and effected on
the 2013 consolidated financial
statements.

PSAK 38 (Revisi 2012) yang menggantikan PSAK 38 (Revised 2012) that supersedes
PSAK 38 (Revisi 2004) “Akuntansi PSAK 38 (Revised 2004), “Accounting for
Restrukturisasi Entitas Sepengendali” Restructuring of Entities Under Common
menetapkan antara lain bahwa unsur- Control,” prescribes among others that
unsur laporan keuangan dari entitas items of the financial statements of the
yang bergabung disajikan seolah-olah combining entities are presented as if
penggabungan tersebut telah terjadi the combination has occurred since the
sejak awal periode entitas yang beginning of the period of the
bergabung berada dalam sepengendalian. combining entity become under
Selanjutnya standar ini menyatakan secara common control. Furthermore, this
spesifik bahwa ruang lingkupnya hanya standard states specifically that its
meliputi kombinasi bisnis yang memenuhi scope only includes business
persyaratan kombinasi bisnis sesuai combinations that fulfill the criteria
dengan PSAK No. 22 (Revisi 2010), set forth in PSAK No. 22 (Revised
“Kombinasi Bisnis” yang dilakukan dengan 2010), "Business Combinations" and are
entitas sepengendali. Kombinasi bisnis transacted with under common control
entitas sepengendali dicatat dengan entities. Business combinations under
menggunakan metode penyatuan common control are accounted for
kepentingan, dimana selisih antara using the pooling-of-interest method,
jumlah imbalan yang dialihkan dengan whereby the difference between the
jumlah tercatat aset neto entitas yang considerations transferred and the
diakuisisi diakui sebagai bagian dari akun book value of the net assets of the
"Tambahan Modal Disetor" pada laporan acquiree is recognized as part of
posisi keuangan konsolidasian. "Additional Paid-in Capital" in the
consolidated statement of financial
position.

Sebelum penerapan standar revisian ini Before the application of this revised
dilakukan, Grup mencatat selisih antara standard, the Group recorded the excess
jumlah imbalan yang dialihkan dan of the considerations transferred over
terhadap nilai buku bersih setiap transaksi the net book value of each transaction
entitas sepengendali termasuk pengalihan with under common control companies
aset tetap sebagai ”Selisih nilai transaksi including transfer of fixed assets as
restrukturisasi entitas sepengendali” pada “Difference in value of restructuring
bagian ekuitas. transaction among entities under
common control” under the equity
section.
 Ekshibit E/6 Exhibit E/6

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

a. Dasar penyusunan laporan keuangan a. Basis of preparation of consolidated

konsolidasian (Lanjutan) financial statement (Continued)

Pernyataan ini diterapkan secara This standard is applied prospectively,

prospektif, karena itu Grup mereklasifikasi hence the Group reclassified as at
saldo ”Selisih nilai transaksi restrukturisasi 1 January 2013, the balance of its
entitas sepengendali” sebesar “Difference in value of restructuring
US$ 147.454 menjadi ”Tambahan modal transaction among entities under
disetor” pada tanggal 1 Januari 2013. common control” amounting to
US$ 147,454 to “Additional-Paid in
Capital”.

 Penyesuaian Pernyataan Standar Akuntansi  Amendment to Statement of Financial

Keuangan (PSAK) 60 “Instrumen Keuangan: Accounting Standard (PSAK) 60,
Pengungkapan” yang efektif pada tanggal “Financial Instruments: Disclosure” that
1 Januari 2013, tidak berdampak became effective from annual periods
signifikan terhadap laporan keuangan starting 1 January 2013, has no
konsolidasian. Stándar ini mensyaratkan significant impact on the consolidated
pengungkapan antara lain deskripsi agunan financial statements. Among other
yang dimiliki entitas sebagai jaminan, dan things, the standard requires the
peningkatan kualitas kredit lain, dan disclosures of the description of the
dampak keuangannya (misalnya collateral held as security and of other
kuantifikasi sejauh mana agunan dan credit enhancements, and their financial
peningkatan kualitas kredit lain dalam effect (e.g., quantification of the extent
memitigasi risiko kredit) dengan mengacu to which collateral and other credit
pada jumlah terbaik yang mencerminkan enhancements mitigate credit risk) in
eksposur maksimum terhadap risiko kredit. respect of the amount that best
represents the maximum exposure to
credit risk.

Standar dan interpretasi telah diterbitkan tapi Standards and interpretations issued but not
belum berlaku yet effective

Efektif untuk periode yang dimulai pada atau Effective for periods beginning on or after
setelah 1 Januari 2014 sebagai berikut: 1 January 2014:

 ISAK 27 : Pengalihan Aset dari Pelanggan/Transfer of Assets from Customer

 ISAK 28 : Pengakhiran Liabilitas Keuangan dengan Instrumen
Ekuitas/Extinguishing Financial Liabilities with Equity Instrument
 ISAK 29 : Biaya Pengupasan Lapisan Tanah dalam Tahap Produksi pada
Tambang Terbuka/Stripping Costs in the Production Phase of
Surface Mine
 PPSAK 12 : Pencabutan PSAK 33: Aktivitas Pengelupasan Lapisan Tanah dan
Pengelolaan Lingkungan Hidup pada Pertambangan Umum/
Withdrawal of PSAK 33: Stripping Cost Activity and Environmental
Management in Public Mining

Efektif untuk periode yang dimulai pada atau Effective for periods beginning on or after
setelah 1 Januari 2015 sebagai berikut: 1 January 2015:

 PSAK 65 : Laporan Keuangan Konsolidasian/Consolidated Financial Statements

 PSAK 66 : Pengaturan Bersama/Joint Arrangements
 PSAK 67 : Pengungkapan Kepentingan dalam Entitas Lain/Disclosure of
Interests in Other Entities
 PSAK 68 : Pengukuran Nilai Wajar/Fair Value Measurement
 Ekshibit E/7 Exhibit E/7

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

a. Dasar penyusunan laporan keuangan a. Basis of preparation of consolidated

konsolidasian (Lanjutan) financial statement (Continued)

 PSAK 1 (revisi/revised 2013) : Penyajian Laporan Keuangan/Presentation of Financial Statements

 PSAK 4 (revisi/revised 2013) : Laporan Keuangan Tersendiri/Separate Financial Statements
 PSAK 15 (revisi/revised 2013) : Investasi pada Entitas Asosiasi dan Ventura Bersama/Investment in
Associates and Joint Ventures
 PSAK 24 (revisi/revised 2013) : Imbalan Kerja/Employee Benefits

Penerapan lebih awal dari standar baru dan Early adoption of these new and revised
revisi sebelum 1 Januari 2015 tidak standards prior to 1 January 2015 is not
diperkenankan. permitted.

Sampai dengan tanggal penerbitan laporan As of the issuance date of the consolidated
keuangan konsolidasian, manajemen sedang financial statements, management is still
mengevaluasi dampak dari standar terhadap evaluating the effect of these standards on
laporan keuangan konsolidasian. the consolidated financial statements.

b. Dasar konsolidasian b. Basis of consolidation

Laporan keuangan konsolidasian The consolidated financial statements

menggabungkan laporan keuangan Perusahaan incorporate the financial statements of the
dan entitas yang dikendalikan oleh Grup Company and entities controlled by the
(termasuk entitas bertujuan khusus). Group (including a special purpose entity).
Pengendalian dianggap ada apabila Grup Control is achieved where the Group has the
mempunyai hak untuk mengatur dan power to govern the financial and operating
menentukan kebijakan finansial dan policies of the investee entity so as to obtain
operasional dari investee untuk memperoleh benefits from its activities.
manfaat dari aktivitasnya.

Pendapatan dan beban dari entitas anak yang Income and expenses of subsidiary acquired
diakuisisi atau dijual selama tahun berjalan or disposed of during the year are included in
termasuk dalam laporan laba rugi the consolidated statements of
komprehensif konsolidasian sejak tanggal comprehensive income from the effective
efektif akuisisi atau sampai dengan tanggal date of acquisition or up to the effective
efektif penjualan. Jumlah laba rugi date of disposal, as appropriate. Total
komprehensif diatribusikan kepada pemilik comprehensive income is attributed to the
Perusahaan dan kepentingan nonpengendali owners of the Company and to the non-
bahkan jika hasilnya mengakibatkan controlling interests even if this results in
kepentingan nonpengendali bersaldo defisit. the non-controlling interests having a deficit
balance.

Penyesuaian dilakukan terhadap laporan Where necessary, adjustments are made to

keuangan entitas anak agar kebijakan the financial statements of the subsidiary to
akuntansi yang digunakan sesuai dengan bring the accounting policies used in line with
Perusahaan. those used by the Company.

Seluruh transaksi antar perusahaan, saldo, All intra-group transactions, balances,

penghasilan dan beban dieliminasi pada saat income and expenses are eliminated on
konsolidasi. consolidation.
 Ekshibit E/8 Exhibit E/8

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

b. Dasar konsolidasian (Lanjutan) b. Basis of consolidation (Continued)

Kepentingan nonpengendali pada entitas anak Non-controlling interests in subsidiaries are

diidentifikasi secara terpisah dan disajikan identified separately and presented within
dalam ekuitas. Kepentingan pemegang saham equity. The interest of non-controlling
nonpengendali pada awalnya boleh diukur pada shareholders maybe initially measured either
nilai wajar atau pada proporsi kepemilikan at fair value or at the non-controlling
kepentingan nonpengendali atas aset neto interests’ proportionate share of the fair
teridentifikasi dari pihak yang diakuisisi. value of the acquiree’s identifiable net asset.
Pilihan pengukuran dibuat pada saat akuisisi The choice of measurement is made on
dengan dasar akuisisi. Setelah akuisisi, nilai acquisition by acquisition basis. Subsequent
tercatat kepentingan nonpengendali adalah to acquisition, the carrying amount of non-
jumlah kepentingan nonpengendali pada controlling interests is the amount of those
pengakuan awal ditambah dengan proporsi interests at initial recognition plus non-
kepentingan nonpengendali atas perubahan controlling interests’ share of subsequent
selanjutnya dalam ekuitas. changes in equity.

Perubahan dalam bagian kepemilikan Grup Changes in the Group’s ownership interests in
pada entitas anak yang dimiliki existing subsidiary

Perubahan dalam bagian kepemilikan Grup Changes in the Group’s interests in subsidiary
pada entitas anak yang tidak mengakibatkan that do not result in a loss of control are
hilangnya pengendalian dicatat sebagai accounted for as equity transactions. The
transaksi ekuitas. Nilai tercatat kepentingan carrying amounts of the Group’s interests and
Grup dan kepentingan nonpengendali the non-controlling interests are adjusted to
disesuaikan untuk mencerminkan perubahan reflect the changes in its relative interests in
bagian kepemilikannya atas entitas anak. the subsidiaries. Any difference between the
Setiap perbedaan antara jumlah kepentingan amount by which the non-controlling
nonpengendali disesuaikan dan nilai wajar interests are adjusted and the fair value of
imbalan yang diberikan atau diterima diakui the consideration paid or received is
secara langsung dalam ekuitas dan recognized directly in equity and attributed
diatribusikan pada pemilik perusahaan. to owners of the company.

Jika entitas induk kehilangan pengendalian When the parent loses control of a
atas entitas anak, maka keuntungan atau subsidiary, the profit or loss on disposal is
kerugian pelepasan dihitung dari perbedaan calculated as the difference between (i) the
antara (i) nilai wajar seluruh pembayaran yang aggregate of the fair value of the
diterima dan nilai wajar dari kepentingan yang consideration received and the fair value of
tersisa dan (ii) jumlah tercatat sebelumnya any retained interest and (ii) the previous
atas aset (termasuk goodwill) dan liabilitas carrying amount of the assets (including
entitas anak serta setiap kepentingan goodwill), and liabilities of the subsidiary
nonpengendali. Jumlah yang sebelumnya diakui and any non-controlling interests. Amounts
dalam pendapatan komprehensif lain yang previously recognized in other comprehensive
terkait dengan entitas anak tersebut dicatat income in relation to the subsidiary are
(misalnya reklasifikasi ke laba atau rugi atau accounted for (i.e. reclassified to profit or
transfer secara langsung ke saldo laba) dengan loss or transferred directly to retained
cara yang sama seperti akan diharuskan jika earnings) in the same manner as would be
aset dan liabilitas terkait dilepas. required if the relevant assets or liabilities
were disposed of.
 Ekshibit E/9 Exhibit E/9

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)
b. Dasar konsolidasian (Lanjutan) b. Basis of consolidation (Continued)
Nilai wajar sisa investasi pada entitas anak The fair value of any investment retained in
terdahulu pada tanggal hilangnya pengendalian the former subsidiary at the date when
dianggap sebagai nilai wajar pada saat control is lost is regarded as the fair value on
pengakuan awal aset keuangan sesuai dengan initial recognition for subsequent accounting
PSAK 55: Instrumen keuangan, Pengakuan dan under PSAK 55, Financial instruments:
pengukuran, atau jika sesuai, biaya perolehan Recognition and measurement, or when
saat pengakuan awal investasi pada entitas applicable, the cost on initial recognition of
asosiasi atau pengendalian bersama entitas an investment in an associate or jointly
controlled entity.
c. Kombinasi bisnis c. Business combinations
Akuisisi bisnis dicatat dengan menggunakan Acquisitions of businesses are accounted for
metode akuisisi. Imbalan yang dialihkan dalam using the acquisition method. The
suatu kombinasi bisnis diukur pada nilai wajar, consideration transferred in a business
yang dihitung sebagai hasil penjumlahan dari combination is measured at fair value, which
nilai wajar tanggal akuisisi atas seluruh aset is calculated as the sum of the acquisition-
yang dialihkan oleh Grup, liabilitas yang diakui date fair values of the assets transferred by
oleh Grup kepada pemilik sebelumnya dari the Group, liabilities incurred by the Group
pihak yang diakuisisi dan kepentingan ekuitas to the former owners of the acquiree, and
yang diterbitkan oleh Grup dalam pertukaran the equity interests issued by the Group in
pengendalian dari pihak yang diakuisisi. Biaya- exchange for control of the acquiree.
biaya terkait akuisisi diakui di dalam laba rugi Acquisition-related costs are recognized in
pada saat terjadinya. profit or loss as incurred.
Pada tanggal akuisisi, aset teridentifikasi yang At the acquisition date, the identifiable
diperoleh dan liabilitas yang diambil alih diakui assets acquired and the liabilities assumed
pada nilai wajar kecuali untuk aset dan are recognized at their fair value except for
liabilitas tertentu yang diukur sesuai dengan certain assets and liabilities that are
standar yang relevan. measured in accordance with the relevant
standards.
Kepentingan non pengendali diukur baik pada Non-controlling interests are measured either
nilai wajar ataupun pada proporsi kepemilikan at fair value or at the non-controlling
kepentingan non pengendali atas aset neto interests’ proportionate share of the
teridentifikasi dari pihak yang diakuisisi. acquiree’s identifiable net assets.
Bila imbalan yang dialihkan oleh Grup dalam When the consideration transferred by the
suatu kombinasi bisnis termasuk aset atau Group in a business combination includes
liabilitas yang berasal dari pengaturan imbalan assets or liabilities resulting from a
kontinjen (contingent consideration contingent consideration arrangement, the
arrangement), imbalan kontinjen tersebut contingent consideration is measured at its
diukur pada nilai wajar pada tanggal akuisisi acquisition-date fair value and included as
dan termasuk sebagai bagian dari imbalan yang part of the consideration transferred in a
dialihkan dalam suatu kombinasi bisnis. business combination. Changes in the fair
Perubahan dalam nilai wajar atas imbalan value of the contingent consideration that
kontinjen yang memenuhi syarat sebagai qualify as measurement period adjustments
penyesuaian periode pengukuran disesuaikan are adjusted retrospectively, with
secara retrospektif, dengan penyesuaian corresponding adjustments against goodwill.
terkait terhadap goodwill. Penyesuaian periode Measurement period adjustments are
pengukuran adalah penyesuaian yang berasal adjustments that arise from additional
dari informasi tambahan yang diperoleh selama information obtained during the
periode pengukuran (yang tidak melebihi satu measurement period (which cannot exceed
tahun sejak tanggal akuisisi) tentang fakta- one year from the acquisition date) about
fakta dan kondisi yang ada pada tanggal facts and circumstances that existed at the
akuisisi. acquisition date.
 Ekshibit E/10 Exhibit E/10

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

c. Kombinasi bisnis (Lanjutan) c. Business combinations (Continued)

Perubahan selanjutnya dalam nilai wajar atas The subsequent accounting for changes in the
imbalan kontinjen yang tidak memenuhi syarat fair value of the contingent consideration
sebagai penyesuaian periode pengukuran that do not qualify as measurement period
tergantung pada bagaimana imbalan kontinjen adjustments depends on how the contingent
tersebut diklasifikasikan. Imbalan kontinjen consideration is classified. Contingent
yang diklasifikasikan sebagai ekuitas tidak consideration that is classified as equity is
diukur kembali pada tanggal sesudah tanggal not remeasured at subsequent reporting
pelaporan dan penyelesaian selanjutnya dates and its subsequent settlement is
dicatat dalam ekuitas. Imbalan kontinjen yang accounted for within equity. Contingent
diklasifikasikan sebagai aset atau liabilitas consideration that is classified as an asset or
diukur setelah tanggal pelaporan sesuai dengan liability is remeasured subsequent to
standar akuntansi yang relevan dengan reporting dates in accordance with the
mengakui keuntungan atau kerugian terkait relevant accounting standards, as
dalam laba rugi atau dalam pendapatan appropriate, with the corresponding gain or
komprehensif lain. loss being recognized in profit or loss or in
other comprehensive income.

Bila suatu kombinasi bisnis dilakukan secara When a business combination is achieved in
bertahap, kepemilikan terdahulu Grup atas stages, the Group’s previously held equity
pihak terakuisisi diukur kembali ke nilai wajar interest in the acquiree is remeasured to fair
pada tanggal akuisisi dan keuntungan atau value at the acquisition date and the
kerugiannya, jika ada, diakui dalam laba rugi. resulting gain or loss, if any, is recognized in
Jumlah yang berasal dari kepemilikan sebelum profit or loss. Amounts arising from interests
tanggal akuisisi yang sebelumnya telah diakui in the acquiree prior to the acquisition date
dalam pendapatan komprehensif lain that have previously been recognized in other
direklasifikasi ke laba rugi dimana perlakuan comprehensive income are reclassified to
tersebut akan sesuai jika kepemilikannya profit or loss where such treatment would be
dilepas/dijual. appropriate if that interests were disposed
of.

Jika akuntansi awal untuk kombinasi bisnis If the initial accounting for business
belum selesai pada akhir periode pelaporan combination is incomplete by the end of the
saat kombinasi terjadi, Grup melaporkan reporting period in which the combination
jumlah sementara untuk pos-pos yang proses occurs, the Group report provisional amounts
akuntansinya belum selesai dalam laporan for the items for which the accounting is
keuangannya. Selama periode pengukuran, incomplete. Those provisional amounts are
pihak pengakuisisi menyesuaikan, aset atau adjusted during the measurement period, or
liabilitas tambahan yang diakui, untuk additional assets or liabilities are recognized,
mencerminkan informasi baru yang diperoleh to reflect new information obtained about
tentang fakta dan keadaan yang ada pada facts and circumstances that existed as of the
tanggal akuisisi dan, jika diketahui, akan acquisition date that, if known, would have
berdampak pada jumlah yang diakui pada affected the amount recognized as of that
tanggal tersebut. date.
 Ekshibit E/11 Exhibit E/11

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

c. Kombinasi bisnis (Lanjutan) c. Business combinations (Continued)

Kombinasi bisnis antara entitas sepengendali Business combination among entities under
common control

Kombinasi bisnis entitas sepengendali Business combinations under common

dicatat dengan menggunakan metode control are accounted for using the
penyatuan kepentingan, dimana selisih pooling-of-interest method, whereby the
antara jumlah imbalan yang dialihkan difference between the considerations
dengan jumlah tercatat aset neto entitas transferred and the book value of the net
yang diakuisisi diakui sebagai bagian dari assets of the acquiree is recognized as
akun "Tambahan Modal Disetor" pada part of "Additional Paid-in Capital" in the
laporan posisi keuangan konsolidasian. Dalam consolidated statement of financial position.
menerapkan metode penyatuan kepemilikan In applying the said pooling-of-interest
tersebut, unsur-unsur laporan keuangan dari method, the components of the financial
entitas yang bergabung disajikan seolah-olah statements of the combining entities are
penggabungan tersebut telah terjadi sejak presented as if the combination has
awal periode entitas yang bergabung berada occurred since the beginning of the period
dalam sepengendalian. of the combining entity become under
common control.

d. Penjabaran mata uang asing d. Foreign currency translation

Laporan keuangan individu dari setiap entitas The individual financial statements of each
dalam Grup disajikan dalam mata uang entity within the Group are presented in the
lingkungan ekonomi utama dimana entitas currency of the primary economic
beroperasi (mata uang fungsional). Untuk environment in which the entity operates (its
tujuan laporan keuangan konsolidasian, hasil functional currency). For the purpose of the
dan posisi keuangan dari setiap entitas consolidated financial statements, the results
dinyatakan dalam Dolar Amerika Serikat (US$), and financial position of each entity are
yang merupakan mata uang fungsional dari expressed in United State Dollar (US$), which
Perusahaan dan mata uang penyajian untuk is the functional currency of the Company
laporan keuangan konsolidasian. and the presentation currency for the
consolidated financial statements.

Pada saat penyusunan laporan keuangan setiap In preparing the financial statements of the
entitas individu, transaksi-transaksi selain individual entities, transactions in currencies
mata uang fungsional entitas (mata uang asing) other than the entity’s functional currency
diakui pada kurs yang berlaku pada saat (foreign currency) are recognized at the rates
terjadinya transaksi. Pada akhir periode of exchange prevailing at the dates of the
pelaporan, pos-pos moneter yang didenominasi transactions. At the end of each reporting
dalam mata uang asing dijabarkan period, monetary items denominated in
menggunakan kurs yang berlaku pada tanggal foreign currencies are retranslated at the
tersebut. Pos-pos non-moneter yang rates prevailing at that date. Non-monetary
dinyatakan pada nilai wajar dan didenominasi items carried at fair value that are
dalam mata uang asing dijabarkan denominated in foreign currencies are
menggunakan kurs yang berlaku pada tanggal translated at the rates prevailing at the date
ketika nilai wajar ditentukan. Pos-pos non- when the fair value was determined. Non-
moneter yang diukur berdasarkan biaya monetary items that are measured in terms
historis dan merupakan mata uang asing tidak of historical cost in foreign currency are not
dijabarkan. retranslated.
 Ekshibit E/12 Exhibit E/12

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

d. Penjabaran mata uang asing (Lanjutan) d. Foreign currency translation (Continued)

Keuntungan dan kerugian kurs mata uang yang Exchange gains and losses arising from the
timbul dari mata uang asing atau mata uang foreign currency or currencies other than the
selain US$ diakui pada laba rugi pada periode US$ are recognized in profit or loss in the
saat terjadinya. period in which they arise.

Kurs konversi pada akhir periode pelaporan The conversion rates used at the end of
menggunakan kurs sebagai berikut: reporting period using the rates as follows:

31/12/2013 31/12/2012
US$ US$

Rupiah (Rp'000) 0,0820 0,1034 Rupiah (Rp'000)

Dolar Singapura (SGD) 0,7899 0,8177 Singapore Dollar (SGD)
Yen (JPY) 0,0095 0,0116 Yen (JPY)

e. Transaksi dengan pihak-pihak berelasi e. Transactions with related parties

Pihak berelasi adalah orang atau entitas yang A related party is a person or entity that is
terkait dengan Grup (entitas pelapor). related to the Group (reporting entity).

a) Orang atau anggota keluarga terdekat a) A person or a close member of that

mempunyai relasi dengan entitas pelapor person’s family is related to a reporting
jika orang tersebut: entity if that person:

(1) memiliki pengendalian atau (1) has control or joint control over the
pengendalian bersama atas entitas reporting entity;
pelapor;

(2) memiliki pengaruh signifikan atas (2) has significant influence over the
entitas pelapor; atau reporting entity; or

(3) personil manajemen kunci entitas (3) is a member of the key management
pelapor atau entitas induk entitas personnel of the reporting entity or
pelapor. of a parent of the reporting entity.

b) Suatu entitas berelasi dengan entitas b) An entity is related to a reporting entity

pelapor jika memenuhi salah satu hal if any of the following conditions
berikut: applies:

(1) entitas dan entitas pelapor adalah (1) the entity and the reporting entity
anggota dari kelompok usaha yang are members of the same group
sama (artinya entitas induk, entitas (which means that each parent,
anak, dan entitas anak berikutnya subsidiary and fellow subsidiary is
terkait dengan entitas lain). related to the others).

(2) satu entitas adalah entitas asosiasi (2) one entity is an associate or joint
atau ventura bersama dari entitas lain venture of the other entity (or an
(atau entitas asosiasi atau ventura associate or joint venture of a
bersama yang merupakan anggota member of a group of which the
suatu kelompok usaha, yang mana other entity is a member).
entitas lain tersebut adalah
anggotanya).

(3) kedua entitas tersebut adalah ventura (3) both entities are joint ventures of
bersama dari pihak ketiga yang sama. the same third party.
 Ekshibit E/13 Exhibit E/13

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

e. Transaksi dengan pihak-pihak berelasi e. Transactions with related parties

(Lanjutan) (Continued)

(4) satu entitas adalah ventura bersama (4) one entity is a joint venture of a
dari entitas ketiga dan entitas yang third entity and the other entity is
lain adalah entitas asosiasi dari an associate of the third entity.
entitas ketiga.

(5) entitas tersebut adalah suatu (5) the entity is a post-employment

program imbalan pascakerja untuk benefit plan for the benefit of
imbalan kerja dari salah satu entitas employees of either the reporting
pelapor atau entitas yang terkait entity or an entity related to the
dengan entitas pelapor. Jika entitas reporting entity. If the reporting
pelapor adalah entitas yang entity is itself such a plan, the
menyelenggarakan program tersebut, sponsoring employers are also
maka entitas sponsor juga berelasi related to the reporting entity.
dengan entitas pelapor.

(6) entitas yang dikendalikan atau (6) the entity is controlled or jointly
dikendalikan bersama oleh orang yang controlled by a person identified in
diidentifikasi dalam huruf (a). (a).

(7) orang yang diidentifikasi dalam huruf (7) a person identified in (a) (1) has
(a) (1) memiliki pengaruh signifikan significant influence over the entity
atas entitas atau personil manajemen or is a member of the key
kunci entitas (atau entitas induk dari management personnel of the entity
entitas). (or of a parent of the entity).

Transaksi dilakukan berdasarkan persyaratan Transactions are made based on terms

yang disetujui oleh kedua belah pihak, dimana agreed by the parties, where such terms
persyaratan tersebut dapat sama atau tidak may or may not be the same as those of the
sama dengan transaksi lain yang dilakukan transactions between third parties.
dengan pihak ketiga.

Seluruh transaksi signifikan dengan pihak-pihak All significant transactions with related
berelasi telah diungkapkan dalam catatan parties have been disclosed in the notes to
laporan keuangan konsolidasian. consolidated financial statements.

f. Aset keuangan f. Financial assets

Aset keuangan diakui di dalam laporan posisi Financial assets are recognized in the
keuangan konsolidasian, jika dan hanya jika, consolidated statement of financial position
Grup menjadi salah satu pihak dalam when, and only when, the Group becomes a
ketentuan pada kontrak instrumen keuangan. party to the contractual provisions of the
financial instrument.

Aset keuangan Grup diklasifikasi dalam The Group’s financial assets are classified
kategori aset keuangan tersedia untuk dijual into available-for-sale financial assets
(FVTOCI) dan pinjaman yang diberikan dan (FVTOCI) and loans and receivables. The
piutang. Pengklasifikasian ini tergantung pada classification depends on the nature and
hakekat dan tujuan aset keuangan diperoleh purpose for which the asset was acquired and
dan ditetapkan pada saat pengakuan awal. is determined at the time of initial
Grup tidak memiliki klasifikasi aset keuangan recognition. The Group has not classified any
yang diukur pada nilai wajar melalui laba rugi of its financial assets as at fair value through
(FVTPL) dan aset keuangan dimiliki hingga profit or loss (FVTPL) and financial assets as
jatuh tempo (HTM) pada akhir periode held to maturity (HTM) at the end of the
pelaporan. reporting period.
 Ekshibit E/14 Exhibit E/14

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)
f. Aset keuangan (Lanjutan) f. Financial assets (Continued)
Seluruh aset keuangan Grup diakui dan All financial assets of the Group are
dihentikan pengakuannya pada tanggal recognized and derecognized on trade date
diperdagangkan dimana pembelian dan where the purchase or sale of a financial
penjualan aset keuangan berdasarkan kontrak asset is under a contract whose terms require
yang mensyaratkan penyerahan aset dalam delivery of the financial asset within the
kurun waktu yang ditetapkan oleh kebiasaan timeframe established by the market
pasar yang berlaku, dan awalnya diukur concerned, and are initially measured at fair
sebesar nilai wajar ditambah biaya transaksi. value plus transaction costs.
Pinjaman yang diberikan dan piutang Loans and receivables
Pinjaman yang diberikan dan piutang Loans and receivables are non-derivative
merupakan aset keuangan non-derivatif dengan financial assets with fixed determinable
pembayaran tetap atau telah ditentukan dan payments that are not quoted in an active
tidak mempunyai kuotasian di pasar aktif. market. The Group’s loans and receivables
Pinjaman yang diberikan dan piutang Grup are measured at amortised cost using the
diukur pada biaya perolehan diamortisasi effective interest method less any
dengan menggunakan metode suku bunga impairment. Interest income is recognized by
efektif dikurangi penurunan nilai. Pendapatan applying the effective interest rate method,
bunga diakui dengan menggunakan metode except for short-term receivables when the
suku bunga efektif, kecuali piutang jangka recognition of interest would be immaterial.
pendek dimana pengakuan bunga tidak akan
material.
Metode suku bunga efektif adalah metode yang The effective interest method is a method of
digunakan untuk menghitung biaya perolehan calculating the amortized cost of a financial
diamortisasi dari aset keuangan dan asset and of allocating interest income over
mengalokasikan pendapatan bunga selama the relevant period. The effective interest
periode yang relevan. Suku bunga efektif rate is the rate that exactly discounts
adalah suku bunga yang secara tepat estimated future cash receipts (including all
mendiskontokan estimasi penerimaan kas di fees and points received that form an
masa datang (termasuk semua biaya yang integral part of the effective interest rate,
diterima yang merupakan bagian tak transaction costs and other premiums or
terpisahkan dari suku bunga efektif, biaya discounts) through the expected life of the
transaksi dan seluruh premium diskonto financial asset, or, where appropriate, a
lainnya) selama perkiraan umur dari aset shorter period to the net carrying amount on
keuangan, atau, jika lebih tepat, digunakan initial recognition.
periode yang lebih singkat untuk memperoleh
nilai tercatat bersih dari aset keuangan pada
saat pengakuan awal.
Pinjaman yang diberikan dan piutang Grup The Group’s loans and receivables comprise
meliputi kas dan setara kas, kas dibatasi of cash and cash equivalents, restricted cash
penggunaannya dan deposito berjangka yang and time deposits presented under other
disajikan dalam aset keuangan lancar lainnya, current financial assets, trade receivables,
piutang usaha, piutang lain-lain dan piutang other receivables and receivables from
kepada pihak berelasi. related parties.
Aset keuangan tersedia untuk dijual (FVTOCI) Available-for-sale financial assets (FVTOCI)
Aset keuangan FVTOCI Grup adalah non- The Group’s FVTOCI financial assets are non-
derivatif yang ditetapkan pada kategori ini dan derivatives that are either designated in this
tidak diklasifikasikan dalam kategori lain dan category or not classified in other categories
prinsipnya merupakan investasi strategis Grup and comprise principally the Group’s
pada entitas yang bukan merupakan entitas strategic investments in entities not
anak, entitas asosiasi dan entitas pengendalian qualifying as subsidiaries, associates or
bersama serta pada saat awal diakui pada nilai jointly controlled entities and are initially
wajar, ditambah biaya transaksi yang dapat measured at fair value plus directly
diatribusikan secara langsung. attributable transaction cost.
 Ekshibit E/15 Exhibit E/15

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

f. Aset keuangan (Lanjutan) f. Financial asset (Continued)

Grup memiliki investasi saham seperti yang The Group has investment in shares as
diungkapkan dalam Catatan 5 yang tidak disclosed in Note 5 that do not have a quoted
memiliki kuotasian harga pasar pada pasar market but are classified as FVTOCI financial
aktif tetapi diklasifikasi sebagai FVTOCI dan assets and stated at fair value because the
dinyatakan sebesar nilai wajar karena management considers that fair value can be
manajemen mempertimbangkan nilai wajarnya reliably measured (Note 30).
dapat diukur secara andal (Catatan 30).

Keuntungan atau kerugian yang timbul dari Gains and losses arising from changes in fair
perubahan nilai wajar diakui pada pendapatan value are recognized in other comprehensive
komprehensif lain dan akumulasinya dalam income and accumulated under the heading
akun cadangan revaluasi investasi kecuali of investment revaluation reserve with the
untuk kerugian penurunan nilai. Jika aset exception of impairment losses. Where the
keuangan dilepas atau mengalami penurunan investment is disposed of or is determined to
nilai, akumulasi keuntungan atau kerugian yang be impaired, the cumulative gain or loss
sebelumnya diakui dalam akun cadangan previously accumulated under the heading of
revaluasi investasi direklasifikasi ke laba rugi. investment revaluation reserve is reclassified
to profit or loss.

Penurunan nilai aset keuangan Impairment of financial assets

Aset keuangan Grup dievaluasi terhadap The Group’s financial assets are assessed for
indikator penurunan nilai pada akhir setiap indicators of impairment at the end of each
periode pelaporan. Aset keuangan diturunkan reporting period. Financial assets are
nilainya bila terdapat bukti objektif, sebagai impaired where there is objective evidence
akibat dari satu atau lebih peristiwa yang that, as a result of one or more events that
terjadi setelah pengakuan awal aset keuangan, occurred after the initial recognition of the
dan peristiwa tersebut berdampak pada financial asset, the estimated future cash
estimasi arus kas masa datang atas aset flows of the financial assets have been
keuangan. impacted.

Bukti objektif penurunan nilai termasuk The objective evidence of impairment could
kesulitan keuangan signifikan yang dialami include significant financial difficulty of the
penerbit atau pihak peminjam; pelanggaran issuer or counterparty; default or
kontrak, seperti terjadinya wanprestasi atau delinquency in interest or principal
tunggakan pembayaran pokok atau bunga; atau payments; or it becoming probable that the
terdapat kemungkinan bahwa pihak peminjam borrower will enter bankruptcy or financial
akan dinyatakan pailit atau melakukan re-organisation.
reorganisasi keuangan.

Piutang yang dievaluasi tidak akan diturunkan Receivables are assessed not to be impaired
nilainya secara individual, sebagai tambahan, individually, are, in addition, assessed for
penurunan nilainya dievaluasi secara kolektif. impairment on a collective basis. Objective
Bukti objektif dari penurunan nilai piutang evidence of impairment for receivables could
dapat termasuk pengalaman Grup atas include the Group’s past experience of
tertagihnya piutang di masa lalu, peningkatan collecting payments, an increase in the
keterlambatan penerimaan pembayaran number of delayed payments in the portfolio
piutang dari rata-rata periode kredit, dan juga past the average credit period, as well as
pengamatan atas perubahan kondisi ekonomi observable changes in national or local
nasional atau lokal yang berkorelasi dengan economic conditions that correlate with
kegagalan atas piutang. default on receivables.
 Ekshibit E/16 Exhibit E/16

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

f. Aset keuangan (Lanjutan) f. Financial asset (Continued)

Jumlah kerugian penurunan nilai merupakan The amount of the impairment is the
selisih antara nilai tercatat aset keuangan difference between the asset’s carrying
dengan nilai kini dari estimasi arus kas masa amount and the present value of estimated
datang yang didiskontokan menggunakan suku future cash flows, discounted at the financial
bunga efektif awal dari aset keuangan. asset’s original effective interest rate.

Untuk investasi saham FVTOCI Grup yang tidak For the Group’s unlisted equity investments
tercatat di bursa, penurunan yang signifikan classified as FVTOCI, a significant or
atau jangka panjang pada nilai wajar investasi prolonged decline in the fair value of the
saham di bawah biaya perolehannya dianggap security below its cost is considered to be
sebagai bukti objektif penurunan nilai. objective evidence of impairment.

Jika aset keuangan FVTOCI dianggap menurun When an FVTOCI financial asset is considered
nilainya, akumulasi keuntungan atau kerugian to be impaired, cumulative gains or losses
yang sebelumnya telah diakui dalam akun previously recognized under the heading of
cadangan revaluasi investasi direklasifikasi ke investment revaluation reserve are
laba atau rugi dalam tahun yang bersangkutan reclassified to profit or loss in the current
year.

Nilai tercatat aset keuangan dikurangi dengan The carrying amount of the financial asset is
kerugian penurunan nilai secara langsung atas reduced by the impairment loss directly for
aset keuangan, kecuali piutang yang nilai all financial assets with the exception of
tercatatnya dikurangi melalui penggunaan akun receivables, where the carrying amount is
penyisihan penurunan nilai piutang. Jika reduced through the use of an allowance of
piutang tidak tertagih, piutang tersebut impairment losses. When a receivable is
dihapuskan melalui akun penyisihan penurunan considered uncollectible, it is written off
nilai piutang. Pemulihan kemudian dari jumlah against the allowance of impairment of
yang sebelumnya telah dihapuskan dikreditkan losses. Subsequent recoveries of amounts
terhadap akun penyisihan penurunan nilai previously written off are credited against
piutang. Perubahan nilai tercatat akun the allowance impairment losses. Changes in
penyisihan penurunan nilai piutang diakui the carrying amount of the allowance of
dalam laba rugi. impairment losses are recognized in profit or
loss.

Dalam hal efek ekuitas FVTOCI, kerugian In respect of FVTOCI equity securities,
penurunan nilai yang sebelumnya diakui dalam impairment losses previously recognized in
laba rugi tidak boleh dipulihkan melalui laba profit or loss are not reversed through profit
rugi. Setiap kenaikan nilai wajar setelah or loss. Any increase in fair value subsequent
penurunan nilai diakui secara langsung ke to an impairment loss is recognized directly
pendapatan komprehensif lain dan akumulasi in other comprehensive income and
dalam pos cadangan revaluasi investasi. accumulated under the heading of
investments revaluation reserve.
 Ekshibit E/17 Exhibit E/17

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

f. Aset keuangan (Lanjutan) f. Financial asset (Continued)

Penghentian pengakuan aset keuangan Derecognition of financial assets

Grup menghentikan pengakuan aset keuangan, The Group derecognizes a financial asset,
jika dan hanya jika, hak kontraktual atas arus only if, the contractual rights to the cash
kas yang berasal dari aset berakhir, atau saat flows from the asset expire, or when they
mentransfer aset keuangan dan secara transfer the financial asset and substantially
substansial mentransfer seluruh risiko dan all the risks and rewards of ownership of the
manfaat atas kepemilikan aset kepada entitas asset to another entity. If the Group neither
lain. Jika Grup tidak mentransfer serta tidak transfers nor retains substantially all the
memiliki secara substansial atas seluruh risiko risks and rewards of ownership and continue
dan manfaat kepemilikan serta masih to control the transferred asset, the Group
mengendalikan aset yang ditransfer, maka recognizes its retained interest in the asset
Grup mengakui keterlibatan berkelanjutan atas and an associated liability for amounts it may
aset yang ditransfer dan liabilitas terkait have to pay. If the Group retains
sebesar jumlah yang mungkin harus dibayar. substantially all the risks and rewards of
Jika Grup memiliki secara substansial seluruh ownership of a transferred financial asset,
risiko dan manfaat kepemilikan aset keuangan the Group continues to recognize the
yang ditransfer, Grup masih mengakui aset financial asset and also recognizes a
keuangan dan juga mengakui pinjaman yang collateralised borrowing for the proceeds
dijamin sebesar pinjaman yang diterima. received.

Pada saat penghentian pengakuan aset On derecognition of a financial asset in its

keuangan secara keseluruhan, perbedaan entirety, the difference between the asset's
antara nilai tercatat aset dan jumlah yang carrying amount and the sum of the
diterima serta piutang dan akumulasi consideration received and receivable and
keuntungan atau kerugian yang telah diakui the cumulative gain or loss that had been
pada pendapatan komprehensif lain dan recognized in other comprehensive income
akumulasi di ekuitas diakui pada laba atau and accumulated in equity is recognized in
rugi. profit or loss.

Pada saat penghentian pengakuan aset On derecognition of a financial asset other

keuangan sebagian (sebagai contoh ketika Grup than in its entirety (e.g. when the Group
memegang opsi untuk membeli kembali bagian retains an option to repurchase part of a
dari aset yang ditransfer) Grup mengalokasikan transferred asset), the Group allocates the
nilai tercatat sebelumnya dari aset keuangan previous carrying amount of the financial
antara bagian berkelanjutan yang diakui dalam asset between the part it continues to
keterlibatan berkelanjutan, dan bagian yang recognize under continuing involvement, and
tidak lagi diakui dengan menggunakan nilai the part it no longer recognizes on the basis
wajar relatif dari bagian tersebut pada tanggal of the relative fair values of those parts on
transfer. Perbedaan antara nilai tercatat yang the date of the transfer. The difference
dialokasikan dengan bagian yang tidak lagi between the carrying amount allocated to
diakui dan jumlah dari penerimaan dari bagian the part that is no longer recognized and the
yang tidak lagi diakui dan setiap akumulasi dari sum of the consideration received for the
keuntungan dan kerugian yang dialokasikan dan part no longer recognized and any cumulative
telah diakui pada pendapatan komprehensif gain or loss allocated to it that had been
lain diakui dalam laba atau rugi. Akumulasi recognized in other comprehensive income is
keuntungan atau rugi yang telah diakui dalam recognized in profit or loss. A cumulative
pendapatan komprehensif lain dialokasikan gain or loss that had been recognized in other
antara bagian yang berkelanjutan diakui dan comprehensive income is allocated between
bagian yang tidak lagi diakui dengan dasar nilai the part that continues to be recognized and
wajar relatif pada bagian-bagian tersebut. the part that is no longer recognized on the
basis of the relative fair values of those
parts.
 Ekshibit E/18 Exhibit E/18

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

g. Kas dan setara kas g. Cash and cash equivalents

Kas dan setara kas terdiri dari kas, bank Cash and cash equivalents consist of all
dan deposito berjangka yang tidak dibatasi unrestricted cash on hand and in banks
pengunaannya dan jatuh tempo dalam waktu and time deposits with maturities of three
tiga bulan atau kurang dari tanggal months or less from the dates of
penempatan serta tidak dijaminkan sebagai placement and not pledged as collateral
jaminan utang. to loans.

Kas di rekening bank dan deposito berjangka Cash in bank accounts and time deposits
yang dibatasi penggunaannya dan atau which are restricted and or used as security is
digunakan sebagai jaminan diklasifikasikan classified as “other current financial assets”
sebagai “aset keuangan lancar lainnya” (Note 5).
(Catatan 5).

h. Persediaan h. Inventories

Persediaan dinyatakan berdasarkan biaya Inventories are stated at cost or net

perolehan atau nilai realisasi bersih, mana realizable value, whichever is lower. Cost is
yang lebih rendah. Biaya perolehan ditentukan determined using the first-in, first-out
dengan metode “first-in, first-out” (FIFO). method (FIFO).

i. Biaya dibayar dimuka i. Prepaid expenses

Biaya dibayar dimuka diamortisasi selama Prepaid expenses are amortized over their
manfaat masing-masing biaya dengan beneficial periods using the straight-line
menggunakan metode garis lurus. method

j. Aset tetap j. Fixed assets

Kapal Vessels

Kapal dicatat menggunakan model revaluasi Vessels are stated using revaluation model,
yaitu nilai wajar pada tanggal revaluasi being the fair value at the date of
dikurangi akumulasi penyusutan dan akumulasi revaluation, less any subsequent accumulated
rugi penurunan nilai yang terjadi setelah depreciation and subsequent accumulated
tanggal revaluasi. Revaluasi dilakukan dengan impairment losses. Revaluations are
keteraturan yang cukup untuk memastikan performed with sufficient regularity such
bahwa jumlah tercatat tidak berbeda secara that the carrying amount does not differ
material dari jumlah yang ditentukan dengan materially from that which would be
menggunakan nilai wajar pada tanggal determined using fair values at the reporting
pelaporan. Penyusutan kapal dihitung dengan date. Depreciation of vessels are calculated
menggunakan metode garis lurus berdasarkan on a straight line basis over the estimated
taksiran masa manfaat dari kapal yaitu 5 - 30 useful life of the vessels between 5 – 30
tahun. years.

Setiap kenaikan yang berasal dari revaluasi Any revaluation increase arising on the
kapal tersebut langsung dikreditkan ke revaluation of such vessels is credited to
pendapatan komprehensif lain dan other comprehensive income and
akumulasinya ke surplus revaluasi pada bagian accumulated in revaluation surplus in the
ekuitas, kecuali sebelumnya penurunan equity section, except to the extent that it
revaluasi atas aset yang sama pernah diakui reverses a revaluation decrease, for the same
dalam laba rugi, dalam hal ini, kenaikan asset which was previously recognized in
revaluasi hingga sebesar penurunan nilai aset profit or loss, in which case the increase is
akibat revaluasi tersebut, dikreditkan dalam credited to profit or loss to the extent of the
laba rugi. decrease previously charged.
 Ekshibit E/19 Exhibit E/19

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

j. Aset tetap (Lanjutan) j. Fixed assets (Continued)

Penurunan jumlah tercatat yang berasal dari A decrease in carrying amount arising on the
revaluasi kapal dibebankan dalam laba rugi revaluation of such vessels is charged to
apabila penurunan tersebut melebihi saldo profit or loss to the extent that it exceeds
akun surplus revaluasi kapal yang berasal dari the balance, if any, held in the vessels
revaluasi kapal sebelumnya. revaluation surplus relating to a previous
revaluation of such vessels.

Penyusutan atas nilai revaluasian kapal Depreciation on revalued vessels is charged

dibebankan ke laba rugi. Sejalan dengan to profit or loss. As the vessels are used, a
penggunaan kapal oleh Grup, surplus revaluasi transfer is made from revaluation reserve to
kapal dipindahkan ke saldo laba sebesar retained earnings equivalent to the
perbedaan jumlah penyusutan berdasarkan difference between depreciation based on
nilai revaluasian kapal dengan jumlah revalued carrying amount of the vessels and
penyusutan berdasarkan biaya perolehan depreciation based on the vessels’ original
kapal. Bila kemudian kapal yang telah cost. On subsequent sale or retirement of a
direvaluasi dijual atau dihentikan revalued vessel, the attributable revaluation
penggunaannya, saldo surplus revaluasi tersisa surplus remaining in the vessels revaluation
dipindahkan langsung ke saldo laba. reserve is transferred directly to retained
earnings.

Taksiran masa manfaat, nilai residu dan The residual values, estimated useful lives
metode penyusutan direviu minimum setiap and depreciation method are reviewed at
akhir tahun buku dan pengaruh dari setiap each year end, with the effect of any changes
perubahan tersebut diperlakukan secara in estimate accounted for on a prospective
prospektif. basis

Keuntungan dan kerugian yang timbul dari The gain or loss arising on sale or retirement
penjualan atau penghentian kapal ditentukan of vessels is determined as the difference
sebesar perbedaan antara jumlah neto hasil between the sales proceeds and carrying
penjualan dan jumlah tercatat dari kapal amount of the vessel and is recognized in
tersebut dan dicatat dalam laba rugi profit or loss.

Beban pemeliharaan dan perbaikan dibebankan The cost of maintenance and repairs is
pada saat terjadinya. Biaya lain yang terjadi charged to operations as incurred. Other
setelah pengakuan awal untuk menambah, costs incurred subsequently to add, to
mengganti sebagian atau memperbaiki kapal replace part of, or service an item of vessels,
diakui sebagai aset jika dan hanya jika besar are recognized as asset if, and only if it is
kemungkinan manfaat ekonomis di masa probable that future economic benefits
datang berkenaan dengan aset tetap tersebut associated with the item will flow to the
akan mengalir ke Grup dan biaya perolehan Group and the cost of the item can be
aset tetap dapat diukur secara andal. measured reliably.

Nilai kapal, termasuk biaya docking yang Included in the balance of vessels is dry
dikapitaliasi pada saat terjadinya dan docking cost which is capitalized when
diamortisasi berdasarkan metode garis lurus incurred and is amortized on a straight line
sampai dengan docking berikutnya. basis over the period to the next dry docking.
 Ekshibit E/20 Exhibit E/20

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

j. Aset tetap (Lanjutan) j. Fixed assets (Continued)

Aset tetap lainnya Other fixed assets

Aset tetap lainnya yang dikuasai untuk Other fixed assets held for use in the supply
digunakan dalam penyediaan jasa, atau untuk of services, or for administrative purposes,
tujuan administrasi, dinyatakan berdasarkan are stated at cost less accumulated
biaya perolehan dikurangi akumulasi depreciation.
penyusutan.

Grup menerapkan model biaya setelah The Group applies the cost model in
pengakuan awal untuk aset tetap lainnya. Aset subsequent recognition for its other fixed
tetap lainnya disusutkan berdasarkan estimasi assets. Other fixed assets are depreciated
masa manfaat aset tetap sebagai berikut: based on the estimated useful lives of the
assets as follows:

Tahun/Years

Kendaraan bermotor 4-5 Vehicles

Peralatan 4-5 Equipment

Penyusutan diakui sebagai penghapusan biaya Depreciation is recognized so as to write off

perolehan aset dikurangi nilai sisa selama masa the cost of assets less their residual values
manfaat aset, dengan menggunakan metode over their useful lives, using the straight-line
garis lurus. Estimasi masa manfaat, nilai residu method. The estimated useful lives, residual
dan metode penyusutan direviu minimum values and depreciation method are reviewed
setiap akhir tahun buku, dan pengaruh dari at each year end, with the effect of any
setiap perubahan estimasi akuntansi changes in estimate accounted for on a
diterapkan secara prospektif. prospective basis.

Beban pemeliharaan dan perbaikan dibebankan The cost of maintenance and repairs is
pada saat terjadinya. Biaya lain yang terjadi charged to operations as incurred. Other
setelah pengakuan awal untuk menambah, costs incurred subsequently to add, to
mengganti sebagian atau memperbaiki aset replace part of, or service an item of fixed
tetap diakui sebagai aset tetap jika dan hanya assets, are recognized as asset if, and only if
jika besar kemungkinan manfaat ekonomis di it is probable that future economic benefits
masa datang berkenaan dengan aset tetap associated with the item will flow to the
tersebut akan mengalir ke Grup dan biaya Group and the cost of the item can be
perolehan aset tetap dapat diukur secara measured reliably.
andal.

Jika aset tetap lainnya ditarik atau dilepas, When assets are retired or otherwise
keuntungan atau kerugian dari pelepasan atau disposed of, the gain or loss arising on the
penarikan aset tetap lainnya ditentukan disposal or retirement of an item of other
sebagai selisih antara hasil penjualan dan nilai fixed assets is determined as the difference
tercatat aset dan diakui dalam laba rugi. between the sales proceeds and the carrying
amount of the asset and is recognized in
profit or loss.
 Ekshibit E/21 Exhibit E/21

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

k. Penurunan nilai aset non keuangan k. Impairment of non-financial assets

Pada setiap akhir periode pelaporan, Grup At the end of each reporting period, the
mereviu nilai tercatat aset non keuangan untuk Group reviews the carrying amounts of its
menentukan apakah terdapat indikasi bahwa non-financial assets to determine whether
aset tersebut telah mengalami penurunan there is any indication that those assets have
nilai. Jika terdapat indikasi tersebut, nilai yang suffered an impairment loss. If any such
dapat dipulihkan dari aset diestimasi untuk indication exists, the recoverable amount of
menentukan tingkat kerugian penurunan nilai the asset is estimated in order to determine
(apabila ada). Apabila tidak memungkinkan the extent of the impairment loss (if any).
untuk mengestimasi nilai yang dapat dipulihkan Where it is not possible to estimate the
atas suatu aset individu, Grup mengestimasi recoverable amount of an individual asset,
nilai yang dapat dipulihkan dari unit penghasil the Group estimates the recoverable amount
kas atas aset. Apabila dasar alokasi yang of the cash-generating unit to which the
rasional dan konsisten dapat diidentifikasi, asset belongs. Where a reasonable and
aset korporat juga dialokasikan ke unit consistent basis of allocation can be
penghasil kas individu, atau jika alokasian identified, corporate assets are also
dinyatakan ke kelompok terkecil dari unit allocated to individual cash-generating units,
penghasil kas yang merupakan dasar alokasi or otherwise they are allocated to the
yang rasional dan konsisten dapat smallest group of cash-generating units for
diidentifikasi. which a reasonable and consistent allocation
basis can be identified.

Jumlah terpulihkan adalah nilai tertinggi Recoverable amount is the higher of fair
antara nilai wajar dikurangi biaya untuk value less costs to sell and value in use. In
menjual dan nilai pakai. Dalam menyatakan assessing value in use, the estimated future
nilai pakai, estimasi arus kas masa datang cash flows are discounted to their present
didiskontokan ke nilai kini menggunakan tarif value using a pre-tax discount rate that
diskonto sebelum pajak yang mencerminkan reflects current market assessments of the
penilaian pasar terkini dari nilai waktu uang time value of money and the risks specific to
dan spesifik risiko aset dimana estimasi arus the asset for which the estimates of future
kas masa datangnya belum disesuaikan. cash flows have not been adjusted.

Jika jumlah terpulihkan dari suatu aset (atau If the recoverable amount of an asset (or
unit penghasil kas) diperkirakan kurang dari cash-generating unit) is estimated to be less
nilai tercatatnya, nilai tercatat aset (atau unit than its carrying amount, the carrying
penghasil kas) dikurangi menjadi sebesar amount of the asset (or cash-generating unit)
jumlah terpulihkan. Rugi penurunan nilai is reduced to its recoverable amount. An
diakui langsung dalam laba rugi, kecuali aset impairment loss is recognized immediately in
tersebut dicatat sebesar nilai revaluasi, di profit or loss, unless the relevant asset is
mana kerugian penurunan nilai diperlakukan carried at revaluation amount, in which the
sebagai penurunan revaluasi. impairment loss is treated as revaluation
decrease.
 Ekshibit E/22 Exhibit E/22

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)
k. Penurunan nilai aset non keuangan k. Impairment of non-financial assets
(Lanjutan) (Continued)
Jika rugi penurunan nilai kemudian dibalik, Where an impairment loss subsequently
jumlah tercatat aset (atau unit penghasil kas) reverses, the carrying amount of the asset (or
ditambahkan menjadi estimasi jumlah cash-generating unit) is increased to the
terpulihkan setelah revisi, tetapi kenaikan revised estimate of its recoverable amount,
jumlah tercatat tidak melebihi nilai tercatat but so that the increased carrying amount
yang telah ditetapkan sebelum rugi penurunan does not exceed the carrying amount that
nilai diakui atas aset (atau unit penghasil kas) would have been determined had no
pada tahun-tahun sebelumnya. Pembalikan impairment loss been recognized for the
rugi penurunan nilai diakui langsung dalam asset (or cash-generating unit) in prior years.
laba rugi. Rugi penurunan nilai diakui langsung A reversal of an impairment loss is
dalam laba rugi, kecuali aset tersebut dicatat recognized immediately in profit or loss,
sebesar nilai revaluasi, di mana pembalikan unless the relevant asset is carried at a
penurunan nilai diperlakukan sebagai revalued amount, in which case the reversal
peningkatan revaluasi. of the impairment loss is treated as a
revaluation increase.
l. Liabilitas keuangan l. Financial liabilities
Liabilitas keuangan diakui di dalam laporan Financial liabilities are recognized in the
posisi keuangan konsolidasian, jika dan hanya consolidated statement of financial position
jika, Grup menjadi salah satu pihak dalam when, and only when, the Group becomes a
ketentuan pada kontrak instrumen keuangan. party to the contractual provisions of the
Grup menentukan klasifikasi liabilitas keuangan financial instrument. The Group determines
pada saat pengakuan awal liabilitas keuangan. the classification of its financial liabilities at
initial recognition.
Grup mengklasifikasikan liabilitas keuangannya The Group classifies its financial liabilities
bergantung pada tujuan liabilitas tersebut depending on the purpose for which the
diperoleh. Grup tidak memiliki liabilitas yang liability was acquired. The Group does not
diklasifikasi pada nilai wajar melalui laba rugi have liabilities classified at fair value
pada akhir periode pelaporan. through profit and loss at the end of
reporting period.
Seluruh liabilitas keuangan Grup diklasifikasi The Group’s financial liabilities are classified
sebagai liabilitas keuangan yang pada awalnya into financial liabilities which are initially
dinilai berdasarkan nilai wajar, setelah measured at fair value, net of transaction
dikurangi biaya transaksi, dan selanjutnya costs, and are subsequently measured at
diukur dalam biaya perolehan diamortisasi amortised cost, using the effective interest
dengan menggunakan metode suku bunga rate method, with interest expense
efektif, dengan beban bunga diakui recognized on an effective yield basis, except
berdasarkan yield efektif, kecuali liabilitas for short term liabilities where the
jangka pendek dimana pengakuan bunga tidak recognition of interest would be immaterial.
material.
Metode suku bunga efektif adalah metode The effective interest method is a method of
untuk menghitung biaya perolehan diamortisasi calculating the amortised cost of a financial
dari liabilitas keuangan dan mengalokasikan liability and of allocating interest expense
beban bunga selama periode yang relevan. over the relevant period. The effective
Suku bunga efektif adalah suku bunga yang interest rate is the rate that exactly
secara tepat mendiskontokan estimasi discounts estimated future cash payments
pembayaran kas di masa datang selama through the expected life of the financial
perkiraan umur liabilitas keuangan, atau, jika liability, or, where appropriate, a shorter
lebih tepat, digunakan periode yang lebih period to the net carrying amount on initial
singkat untuk memperoleh nilai tercatat bersih recognition.
dari liabilitas keuangan pada saat pengakuan
awal.
 Ekshibit E/23 Exhibit E/23

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)
l. Liabilitas keuangan (Lanjutan) l. Financial liabilities (Continued)
Selisih antara hasil emisi (setelah dikurangi Any difference between the proceeds (net of
biaya transaksi) dan penyelesaian atau transaction costs) and the settlement or
pelunasan pinjaman diakui selama jangka redemption of borrowings is recognized over
waktu pinjaman. the term of the borrowings.
Liabilitas keuangan Grup tersebut meliputi The Group’s financial liabilities comprise of
pinjaman jangka pendek, utang usaha, utang short-term loans, trade payables, other
lain-lain, beban akrual dan pinjaman jangka payable, accrued expenses and long-term
panjang. loans.
Penghentian pengakuan liabilitas keuangan Derecognition of financial liabilities
Grup menghentikan pengakuan liabilitas The Group derecognizes financial liabilities
keuangan, jika dan hanya jika, liabilitas Grup when, and only when, the Group’s obligations
telah dilepaskan, dibatalkan atau kadaluarsa. are discharged, cancelled or they expire. The
Perbedaan antara nilai tercatat liabilitas difference between the carrying amount of
keuangan yang dihentikan pengakuannya dan financial liability derecognized and
pembayaran dan jumlah terutang diakui pada consideration paid and payable is recognized
laba rugi. in the profit or loss.
m. Imbalan kerja pasca-kerja m. Post-employment benefits
Grup memberikan imbalan pasca kerja imbalan The Group provides defined benefit post-
pasti untuk karyawan sesuai dengan Undang employment benefits to its employees in
Undang Ketenagakerjaan No. 13/2003. Tidak accordance with Labor Law No. 13/2003. No
terdapat pendanaan yang disisihkan terkait funding has been made to this defined
imbalan pasca kerja ini. benefit plan.
Perhitungan program imbalan pasca kerja pasti The cost of providing post-employment
ditentukan dengan menggunakan metode defined benefits is determined using the
Projected Unit Credit. Akumulasi keuntungan Projected Unit Credit Method. The
dan kerugian aktuarial bersih yang belum accumulated unrecognized actuarial gains
diakui yang melebihi 10% dari nilai kini provisi and losses that exceeded 10% of the present
imbalan pasti Grup diakui dengan metode garis value of the Group’s defined benefit
lurus selama rata-rata sisa masa kerja yang obligations are recognized on straight-line
diprakirakan dari para pekerja dalam program basis over the expected average remaining
tersebut. Biaya jasa lalu dibebankan langsung, service years of the participating employees.
apabila imbalan tersebut menjadi hak atau Past service cost is recognized immediately
vested, dan sebaliknya diakui sebagai beban to the extent that the benefits are already
dengan menggunakan metode garis lurus vested, and otherwise is amortized on a
berdasarkan periode rata-rata sampai imbalan straight-line basis over the average period
tersebut menjadi vested. until the benefits become vested.
Jumlah yang diakui sebagai provisi imbalan The provision for post-employement benefit
pasca kerja pasti di laporan posisi keuangan recognized in the consolidated statements of
konsolidasian merupakan nilai kini liabilitas financial position represents the present
imbalan pasti disesuaikan dengan biaya jasa value of the defined benefit obligation, as
lalu yang belum diakui, keuntungan dan adjusted for unrecognized past service cost
kerugian aktuarial yang belum diakui. and unrecognized actuarial gains and losses.
n. Provisi dan kontinjensi n. Provisions and contingencies
Provisi diakui ketika Grup memiliki kewajiban Provisions are recognized when the Group has
kini (baik bersifat hukum maupun konstruktif) a present obligation (legal or constructive) as
sebagai akibat peristiwa masa lalu dan besar a result of a past event, it is probable that
kemungkinan Grup diharuskan menyelesaikan the Group will be required to settle the
kewajiban dan estimasi andal mengenai jumlah obligation, and a reliable estimate can be
kewajiban tersebut dapat dilakukan. made of the amount of the obligation.
 Ekshibit E/24 Exhibit E/24

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

n. Provisi dan kontinjensi (Lanjutan) n. Provisions and contingencies (Continued)

Jumlah yang diakui sebagai provisi merupakan The amount recognized as a provision is the
estimasi terbaik dan pertimbangan yang best estimate of the consideration required
diperlukan untuk menyelesaikan provisi pada to settle the obligation at the end of the
akhir periode pelaporan, dengan reporting period, taking into account the
memperhatikan unsur risiko dan ketidakpastian risks and uncertainties surrounding the
yang melekat pada kewajiban. Provisi diukur obligation. Where a provision is measured
menggunakan estimasi arus kas untuk using the cash flows estimated to settle the
menyelesaikan kewajiban kini dengan jumlah present obligation, its carrying amount is the
tercatatnya sebesar nilai kini dari arus kas present value of those cash flows.
tersebut.

Ketika beberapa atau seluruh manfaat When some or all of the economic benefits
ekonomis untuk penyelesaian provisi yang required to settle a provision are expected to
diharapkan dapat dipulihkan dari pihak ketiga, be recovered from a third party, the
piutang diakui sebagai aset apabila terdapat receivable is recognized as an asset if it is
kepastian bahwa penggantian akan dapat virtually certain that reimbursement will be
diterima dan jumlah piutang dapat diukur received and the amount of the receivable
secara andal. can be measured reliably.

Liabilitas kontinjensi tidak diakui di dalam Contingent liabilities are not recognized in
laporan keuangan konsolidasian. Liabilitas the consolidated financial statements. They
kontinjensi diungkapkan di dalam catatan atas are disclosed in the notes to consolidated
laporan keuangan konsolidasian kecuali financial statements unless the possibility of
kemungkinan arus keluar sumber daya ekonomi an outflow of resources embodying economic
adalah kecil. Aset kontinjensi tidak diakui di benefits is remote. Contingent assets are
dalam laporan keuangan konsolidasian, namun not recognized in the consolidated financial
diungkapkan di dalam catatan atas laporan statements but are disclosed in the notes to
keuangan konsolidasian jika terdapat consolidated financial statements when an
kemungkinan suatu arus masuk manfaat inflow of economic benefits is probable.
ekonomis mengalir ke dalam entitas.

o. Sewa o. Leases

Sewa diklasifikasikan sebagai sewa pembiayaan Leases are classified as finance leases
jika sewa tersebut mengalihkan secara whenever the terms of the lease transfer
substantial seluruh risiko dan manfaat yang substantially all the risks and rewards of
terkait dengan kepemilikan aset. Sewa lainnya, ownership to the lessee. All other leases are
yang tidak memenuhi kriteria tersebut, classified as operating leases.
diklasifikasikan sebagai sewa operasi.

Grup sebagai lessee mengakui pembayaran The Group as lessee recognizes operating
sewa operasi sebagai beban dengan dasar garis lease payments as an expense on a straight-
lurus selama masa sewa, kecuali terdapat line basis over the lease term, except where
dasar sistematis lain yang dapat lebih another systematic basis is more
mencerminkan pola waktu dari manfaat aset representative of the time pattern in which
yang dinikmati pengguna. Rental kontinjen economic benefits from the leased asset are
dibebankan pada periode terjadinya. consumed. Contingent rentals are recognized
as expenses in the periods in which they are
incurred.
 Ekshibit E/25 Exhibit E/25

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

p. Instrumen ekuitas p. Equity instruments

Liabilitas keuangan dan instrumen ekuitas yang Financial liabilities and equity instruments of
diterbitkan oleh Grup diklasifikasikan sesuai the Group are classified according to the
dengan perjanjian kontraktual dan definisi substance of the contractual arrangements
liabilitas keuangan dan instrumen ekuitas. entered into and the definitions of a financial
Instrumen keuangan yang diterbitkan oleh Grup liability and equity instrument. Financial
diklasifikasikan sebagai ekuitas hanya jika instruments issued by the Group are
tidak memenuhi defenisi liabilitas keuangan classified as equity only to the extent that
dan aset keuangan. they do not meet the definition of a financial
liability or financial asset.

Instrumen ekuitas adalah setiap kontrak yang An equity instrument is any contract that
memberikan hak residual atas aset Grup evidences a residual interest in the assets of
setelah dikurangi dengan seluruh liabilitasnya. an entity after deducting all of its liabilities.
Saham biasa Grup diklasifikasikan sebagai The Group’s ordinary shares are classified as
instrumen ekuitas. Instrumen ekuitas dicatat equity instruments. Equity instruments are
sebesar hasil penerimaan bersih setelah recorded at the proceeds received, net of
dikurangi biaya penerbitan langsung. direct issue costs.

Biaya emisi saham disajikan sebagai pengurang Share issuance cost is presented as a
dari tambahan modal disetor dalam ekuitas. deduction of additional paid-in capital in
equity.

q. Pengakuan pendapatan dan beban q. Revenue and expense recognition

Pendapatan Revenue

Pendapatan dari operasi freight diakui Revenues from freight operations are
berdasarkan persentase penyelesaian rute recognized as income by reference to the
perjalanan pada tanggal pelaporan. percentage of completion of the voyage as at
Pendapatan diterima dimuka diakui sebagai reporting period. Unearned revenue received
liabilitas. is recognized as liability.

Pendapatan dari sewa berdasarkan waktu Time charter revenue is recognized on

(time charter) diakui sesuai masa manfaatnya accrual basis evenly over the terms of the
dari periode kontrak charter tersebut. time charter agreements. Voyage freight is
Pendapatan berdasarkan rute perjalanan diakui recognized evenly over the duration of each
selama jangka waktu perjalanan tersebut. voyage.

Pendapatan jasa perantara kapal dan jasa Revenues from agency services and storage
penyimpanan diakui pada saat jasa tersebut services are recognized when the services are
diserahkan kepada pelanggan. rendered to customers.

Pendapatan bunga dari aset keuangan diakui Interest income from a financial asset is
apabila kemungkinan besar manfaat ekonomi recognized when it is probable that the
akan mengalir ke Grup dan jumlah pendapatan economic benefits will flow to the Group and
dapat diukur dengan andal. Pendapatan bunga the amount of income can be measured
diakui atas dasar berlalunya waktu dengan reliably. Interest income is accrued on a time
mengacu pada pokok aset keuangan dan suku basis, by reference to the principal
bunga efektif. outstanding and at the effective interest rate

Beban Expenses

Beban diakui pada periode saat terjadinya. Expenses are recognized in the period in
which they are incurred.
 Ekshibit E/26 Exhibit E/26

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

r. Perpajakan r. Taxation

Penghasilan (beban) pajak merupakan jumlah Tax income (expense) represents the sum of
pajak penghasilan final, pajak kini dan pajak the final income tax, current tax and
tangguhan. deferred tax.

Pajak penghasilan final Final income tax

Pajak atas penghasilan yang telah dikenakan Tax on income subject to final tax is
pajak final disajikan sebagai bagian beban presented as part of the tax expense.
pajak.

Beban pajak atas penghasilan yang telah Tax expense related to income subject to
dikenakan pajak final, diakui proporsional final tax is recognized in proportion to total
dengan jumlah pendapatan menurut akuntansi income recognized during the current period
pada periode berjalan. Selisih antara jumlah for accounting purpose. The difference
pajak penghasilan final yang dibayar dengan between the final income tax paid and the
jumlah yang dibebankan sebagai beban pajak amount charged as final income tax charge in
di laba rugi diakui sebagai pajak dibayar profit or loss is recognized as prepaid tax or
dimuka atau utang pajak. tax payable.

Pajak kini Current Tax

Pajak kini ditentukan berdasarkan laba kena The current tax is based on taxable profit for
pajak dalam tahun yang bersangkutan. Laba the year. Taxable profit differs from profit
kena pajak berbeda dengan laba yang as reported in the consolidated statement of
dilaporkan dalam laporan laba rugi comprehensive income because of items of
komprehensif konsolidasian terkait dengan pos- income or expense that are taxable or
pos pendapatan dan beban yang dapat deductible in other years and items that are
dikenakan pajak atau pengurang pajak pada never taxable or deductible. The Group’s
tahun lain dan pos-pos yang tidak dikenakan liability for current tax is calculated using
pajak atau sebagai pengurang pajak. Liabilitas tax rates that have been enacted or
pajak kini Grup dihitung berdasarkan tarif substantively enacted by the end of the
pajak yang telah berlaku atau secara substantif reporting period.
telah berlaku pada akhir periode pelaporan.

Pajak tangguhan Deferred tax

Pajak tangguhan diakui atas perbedaan Deferred tax is recognized on temporary

temporer antara jumlah tercatat aset dan differences between the carrying amounts of
liabilitas dalam laporan posisi keuangan assets and liabilities in the consolidated
konsolidasian dan dasar pengenaan pajak yang financial position statements and the
digunakan dalam menghitung laba kena pajak. corresponding tax bases used in the
Liabilitas pajak tangguhan umumnya diakui computation of taxable profit. Deferred tax
untuk semua perbedaan temporer kena pajak. liabilities are generally recognized for all
Aset pajak tangguhan umumnya diakui untuk taxable temporary differences. Deferred tax
semua perbedaan temporer dapat dikurangkan assets are generally recognized for all
sepanjang besar kemungkinan bahwa laba kena deductible temporary differences to the
pajak akan tersedia sehingga perbedaan extent that it is probable that taxable profits
temporer dapat dikurangkan tersebut dapat will be available against which those
dimanfaatkan. deductible temporary differences can be
utilised.
 Ekshibit E/27 Exhibit E/27

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

r. Perpajakan (Lanjutan) r. Taxation (Continued)

Aset dan liabilitas pajak tangguhan tidak diakui Such deferred tax assets and liabilities are
jika perbedaan temporer timbul dari goodwill not recognized if the temporary difference
atau pengakuan awal (selain dari kombinasi arises from goodwill or from the initial
bisnis) dari aset dan liabilitas lain dalam recognition (other than in a business
transaksi yang ketika transaksi tidak combination) of other assets and liabilities in
mempengaruhi laba akuntansi maupun laba a transaction that affects neither the taxable
kena pajak. profit nor the accounting profit.

Liabilitas pajak tangguhan diakui untuk Deferred tax liabilities are recognized for
perbedaan temporer kena pajak terkait dengan taxable temporary differences associated
investasi pada entitas anak dan asosiasi, serta with investments in subsidiaries and
bagian partisipasi dalam ventura bersama, associates, and interests in joint ventures,
kecuali sepanjang Grup mampu mengendalikan except where the Group is able to control the
pembalikan perbedaan temporer dan reversal of the temporary difference and it is
kemungkinan besar perbedaan temporer tidak probable that the temporary difference will
akan dibalik di masa datang yang dapat not reverse in the foreseeable future.
diperkirakan. Aset pajak tangguhan yang Deferred tax assets arising from deductible
timbul dari perbedaan temporer yang dapat temporary differences associated with such
dikurangkan terkait dengan investasi dan investments and interests are only recognized
partisipasi tersebut diakui hanya sepanjang to the extent that it is probable that there
kemungkinan besar terjadi bahwa laba kena will be sufficient taxable profits against
pajak tersedia dalam jumlah yang memadai which to utilise the benefits of the
sehingga perbedaan temporer dapat temporary differences and they are expected
dimanfaatkan dan perbedaan temporer akan to reverse in the foreseeable future
dibalik di masa datang yang dapat
diperkirakan.

Jumlah tercatat aset pajak tangguhan direviu The carrying amount of deferred tax assets is
pada setiap akhir periode pelaporan dan reviewed at the end of each reporting period
dikurangi, jika kemungkinan besar laba kena and reduced to the extent that it is no longer
pajak tidak lagi tersedia dalam jumlah yang probable that sufficient taxable profits will
memadai untuk membolehkan seluruh atau be available to allow all or part of the asset
sebagian aset pajak tangguhan dipulihkan. to be recovered.

Aset dan liabilitas pajak tangguhan diukur Deferred tax assets and liabilities are
dengan menggunakan tarif pajak yang measured at the tax rates that are expected
diekspektasikan berlaku dalam periode ketika to apply in the period in which the liability is
liabilitas diselesaikan atau aset dipulihkan settled or the asset realised, based on tax
dengan tarif pajak (dan peraturan pajak) yang rates (and tax laws) that have been enacted
telah berlaku atau secara substantif telah or substantively enacted by the end of the
berlaku pada akhir periode pelaporan. reporting period. The measurement of
Pengukuran aset dan liabilitas pajak tangguhan deferred tax liabilities and assets reflects the
mencerminkan konsekuensi yang sesuai dengan tax consequences that would follow from the
cara ekspektasi Grup, pada akhir periode manner in which the Group expects, at the
pelaporan, untuk memulihkan atau end of the reporting period, to recover or
menyelesaikan jumlah tercatat aset dan settle the carrying amount of its assets and
liabilitasnya. liabilities.
 Ekshibit E/28 Exhibit E/28

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

r. Perpajakan (Lanjutan) r. Taxation (Continued)

Aset dan liabilitas pajak tangguhan saling Deferred tax assets and liabilities are offset
hapus bila terdapat hak yang dapat dipaksakan when there is a legally enforceable right to
secara hukum untuk melakukan saling hapus set off current tax assets against current tax
atas aset pajak kini terhadap liabilitas pajak liabilities and when they relate to income
kini dan ketika pajak tersebut terkait dengan taxes levied by the same taxation authority
pajak yang dikenakan oleh otoritas perpajakan and the Group intends to settle its current
yang sama serta Grup bermaksud memulihkan tax assets and liabilities on a net basis.
aset dan liabilitas pajak kini atas dasar neto.

Pajak kini dan tangguhan periode berjalan Current and deferred tax for the period

Pajak kini dan pajak tangguhan diakui sebagai Current and deferred tax are recognized as
beban atau penghasilan dalam laba atau rugi, an expense or income in profit or loss, except
kecuali bila pajak tersebut terkait dengan pos- when they relate to items that are
pos yang diakui, diluar laba atau rugi (baik recognized outside profit or loss (whether in
dalam pendapatan komprehensif lain maupun other comprehensive income or directly in
secara langsung di ekuitas), dalam hal ini pajak equity), in which case the tax is also
juga diakui di luar laba atau rugi, atau apabila recognized outside profit or loss, or where
timbul dari pencatatan awal untuk kombinasi they arise from the initial accounting for a
bisnis. Dalam kasus kombinasi bisnis, pengaruh business combination. In the case of a
pajak dimasukkan dalam perkiraan pada business combination, the tax effect is taken
pencatatan untuk kombinasi bisnis. into account in the accounting for the
business combination.

s. Laba (rugi) per saham s. Earnings (loss) per share

Laba (rugi) per saham dasar dihitung dengan Basic earnings (loss) per share is computed by
membagi laba (rugi) tahun berjalan yang dapat dividing profit (loss) for the year
diatribusikan kepada pemilik Perusahaan attributable to owners of the Company by
dengan jumlah rata-rata tertimbang saham the weighted average number of shares
yang beredar selama tahun berjalan. outstanding during the year.

Laba (rugi) per saham dilusian dihitung dengan Diluted earing (loss) per share is computed
membagi laba tahun berjalan yang dapat by dividing profit for the year attributable to
diatribusikan kepada pemilik Perusahaan owners of the Company by the weighted
dengan jumlah rata-rata tertimbang saham average number of shares outstanding as
biasa yang telah disesuaikan dengan dampak adjusted for the effect of all dilutive
dari semua efek berpotensi saham biasa yang potential ordinary shares.
dilutif.

t. Informasi segmen t. Segment information

Segmen operasi diidentifikasi berdasarkan Operating segments are identified on the

laporan internal mengenai komponen dari basis of internal reports about components of
Grup yang secara regular direviu oleh the Group that are regularly reviewed by
“pengambil keputusan operasional” dalam the chief operating decision maker in order
rangka mengalokasikan sumber daya dan to allocate resources to the segments and to
menilai kinerja segmen operasi. assess their performances.
 Ekshibit E/29 Exhibit E/29

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2. IKHTISAR KEBIJAKAN AKUNTANSI YANG 2. SUMMARY OF SIGNIFICANT ACCOUNTING

SIGNIFIKAN (Lanjutan) POLICIES (Continued)

t. Informasi segmen (Lanjutan) t. Segment information (Continued)

Segmen operasi adalah suatu komponen dari An operating segment is a component of an

entitas: entity:

a) yang terlibat dalam aktivitas bisnis yang a) that engages in business activities which
mana memperoleh pendapatan dan it may earn revenue and incur expenses
menimbulkan beban (termasuk pendapatan (including revenue and expenses relating
dan beban terkait dengan transaksi dengan to the transaction with other
komponen lain dari entitas yang sama); components of the same entity);

b) yang hasil operasinya dikaji ulang secara b) whose operating results are reviewed
regular oleh pengambil keputusan regularly by the entity’s chief operating
operasional untuk membuat keputusan decision maker to make decision about
tentang sumber daya yang dialokasikan resources to be allocated to the
pada segmen tersebut dan menilai segments and assess its performance; and
kinerjanya; dan

c) dimana tersedia informasi keuangan yang c) for which discrete financial information
dapat dipisahkan. is available.

Informasi yang digunakan oleh pengambil Information reported to the chief operating
keputusan operasional dalam rangka alokasi decision maker for the purpose of resource
sumber daya dan penilaian kinerja Grup allocation and assessment of their
terfokus pada kategori dari setiap produk, yang performance is more specifically focused on
menyerupai informasi segmen usaha yang the category of each product, which is similar
dilaporkan di periode sebelumnya. to the business segment information reported
in the prior periods.

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG 3. SIGNIFICANT ACCOUNTING JUDGMENTS AND

SIGNIFIKAN ESTIMATES

Dalam menerapkan kebijakan akuntansi Grup, In the application of the Group's accounting
seperti dijelaskan dalam Catatan 2 atas laporan policies, which are described in Note 2 to
keuangan konsolidasian, manajemen diharuskan consolidated financial statements, management is
untuk membuat pertimbangan, estimasi dan asumsi required to make judgments, estimates and
mengenai nilai tercatat aset dan liabilitas yang assumptions about the carrying amounts of assets
tidak tersedia dari sumber lain. Estimasi dan asumsi and liabilities that are not readily apparent from
terkait berdasarkan pengalaman masa lalu dan other sources. The estimates and associated
faktor lain yang dipertimbangkan menjadi relevan. assumptions are based on historical experience
Realisasi dapat berbeda dengan jumlah yang and other factors that are considered to be
diestimasi. relevant. Actual results may differ from these
estimates.

Estimasi dan asumsi yang mendasarinya direviu The estimates and underlying assumptions are
secara berkelanjutan. Perubahan atas estimasi reviewed on an ongoing basis. Revisions to
akuntansi diakui pada periode terjadinya accounting estimates are recognized in the period
perubahan estimasi, bila perubahan mempengaruhi in which the estimate is revised if the revision
hanya pada periode tersebut, atau pada periode affects only that period or in the period of the
perubahan dan periode masa datang bila perubahan revision and future periods if the revision affects
mempengaruhi masa kini dan periode masa datang. both current and future periods.
 Ekshibit E/30 Exhibit E/30

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG 3. SIGNIFICANT ACCOUNTING JUDGMENTS AND

SIGNIFIKAN (Lanjutan) ESTIMATES (Continued)

a. Pertimbangan yang dibuat dalam penerapan a. Judgments made in applying accounting

kebijakan akuntansi policies

Berikut pertimbangan kritikal, selain yang The following are the critical judgments,
berkaitan dengan estimasi (lihat 3b dibawah), apart from those involving estimations (see
yang dilakukan manajemen pada saat proses 3b below), that managements have made in
penerapan kebijakan akuntansi Grup yang the process of applying the Group's
berpengaruh paling signifikan pada jumlah accounting policies and that have the most
yang diakui di laporan keuangan konsolidasian. significant effect on the amounts recognized
in the consolidated financial statements.

Provisi pajak penghasilan Provision for income taxes

Grup memiliki eksposur pajak penghasilan The Group has exposure to income taxes in
terkait dengan pertimbangan signifikan dalam relation to the significant judgement to
menentukan provisi pajak penghasilan. Grup determine the provision for income taxes.
melaporkan pajak berdasarkan sistem self- The Group submits tax returns on the basis of
assessment dan mengakui liabilitas bagi isu self-assessment and recognizes liabilities for
perpajakan yang diharapkan berdasarkan expected tax issues based on estimates of
estimasi apakah pajak tambahan akan jatuh whether additional taxes will be due. The tax
tempo. Fiskus dapat menetapkan atau authorities may assess or amend taxes within
mengubah pajak-pajak tersebut dalam jangka the statute of limitation under the prevailing
waktu tertentu sesuai dengan peraturan yang regulations. Where the final tax outcome of
berlaku. Apabila hasil perpajakan final dari these matters is different from the amounts
hal-hal tersebut berbeda dari jumlah yang that were initially recognized, such
semula diakui, maka jumlah tersebut akan differences will impact the current tax and
berdampak pada pajak penghasilan kini dan deferred tax in the period in which such
pajak tangguhan pada periode di mana determination is made. The carrying amount
penentuan tersebut dibuat. Jumlah tercatat of Group’s prepaid tax and current tax
pajak dibayar dimuka dan liabilitas pajak kini liabilities are disclosed in Note 13.
Grup diungkapkan dalam Catatan 13.

Penentuan mata uang fungsional Determination of functional currency

Dalam menentukan mata uang fungsional In determining the functional currencies of

masing-masing entitas dalam Grup, each entity in the Group, judgment is
pertimbangan diperlukan untuk menentukan required to determine the currency that
mata uang yang paling mempengaruhi harga mainly influences sales prices for services
jual jasa dan negara di mana kekuatan and of the country whose competitive forces
persaingan dan regulasi paling menentukan and regulations mainly determines the sales
harga jual jasa. Mata uang fungsional masing- prices of its services. The functional
masing entitas di dalam Grup ditentukan currencies of each entity in the Group are
berdasarkan penilaian manajemen terhadap determined based on management’s
lingkungan ekonomi di mana entitas beroperasi assessment of the economic environment in
dan proses entitas dalam menentukan harga which the entities operate and the entities’
jual. Jika indikator tersebut bercampur dan process of determining sales prices. When
mata uang fungsional tidak jelas, manajemen the indicators are mixed and the functional
menggunakan pertimbangannya untuk currency is not obvious, management should
menentukan mata uang fungsional yang paling use its judgment to determine the functional
tepat menggambarkan pengaruh ekonomi dari currency that most faithfully represents the
transaksi, peristiwa dan kondisi yang economic effects of the underlying
mendasari. transactions, events and conditions.
 Ekshibit E/31 Exhibit E/31

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG 3. SIGNIFICANT ACCOUNTING JUDGMENTS AND

SIGNIFIKAN (Lanjutan) ESTIMATES (Continued)

b. Sumber ketidakpastian estimasi b. Sources of estimation uncertaines

Informasi asumsi utama mengenai masa datang The key assumptions concerning future and
dan sumber utama dari estimasi lain pada akhir other key sources of estimation at the end of
periode pelaporan, yang memiliki risiko the reporting period, that have the
signifikan yang dapat mengakibatkan significant risk of causing a material
penyesuaian material terhadap jumlah tercatat adjustment to the carrying amounts of assets
aset dan liabilitas dalam periode pelaporan and liabilities within the next financial
berikutnya dijelaskan dibawah ini. period are discussed below.

Rugi penurunan nilai pinjaman yang diberikan Impairment losses on loans and receivables
dan piutang

Grup menilai penurunan nilai pinjaman yang The Group assess as their loans and
diberikan dan piutang pada setiap tanggal receivables for impairment at each reporting
pelaporan. Dalam menentukan apakah rugi date. In determining whether an impairment
penurunan nilai harus dicatat dalam laba rugi, loss should be recorded in profit or loss,
manajemen membuat penilaian, apakah management makes judgment as to whether
terdapat bukti objektif bahwa kerugian telah there is objective evidence that loss event
terjadi. Manajemen juga membuat penilaian has occurred. Management also makes
atas metodologi dan asumsi untuk judgment as to the methodology and
memperkirakan jumlah dan waktu arus kas assumptions for estimating the amount and
masa depan yang direviu secara berkala untuk timing of future cash flows which are
mengurangi perbedaan antara estimasi reviewed regularly to reduce any difference
kerugian dan kerugian aktualnya. Nilai tercatat between loss estimate and actual loss. The
pinjaman yang diberikan dan piutang carrying amount of loans and receivables are
diungkapkan dalam Catatan 6 dan 9. disclosed in Notes 6 and 9.

Nilai wajar aset keuangan tersedia untuk dijual Fair value of available-for-sale financial
assets

Grup menentukan nilai wajar aset keuangan The Group determines the fair value of the
tersedia dijual yang tidak memiliki kuotasian, available-for-sale financial assets that are
menggunakan teknik penilaian. Tekhik ini not quoted, using valuation techniques.
berpengaruh signifikan terhadap asumsi yang Those techniques are significantly affected
digunakan, termasuk tingkat diskonto dan by the assumptions used, including discount
taksiran arus kas masa datang. Oleh karena itu, rates and estimates of future cash flows. In
estimasi nilai wajar yang dihasilkan tidak dapat that regard, the derived fair value estimates
selalu substantial dapat dibandingkan dengan cannot always be substantiated by
nilai pasar yang independen dan, dalam comparison with independent markets and, in
beberapa kasus, mungkin tidak dapat many cases, may not be capable of being
direalisasikan segera. realised immediately.

Metode dan asumsi yang diterapkan dan tehnik The methods and assumptions applied, and
penilaian yang digunakan diungkapkan dalam the valuation techniques used, are disclosed
Catatan 30. Manajemen yakin bahwa teknik in Note 30. Management believes that
penilaian yang dipilih dan asumsi yang choosen valuation techniques and assumption
digunakan sudah sesuai dalam penentuan nilai used are appropriate in determination of fair
wajar aset keuangan tersebut. value of such financial assets.
 Ekshibit E/32 Exhibit E/32

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG 3. SIGNIFICANT ACCOUNTING JUDGMENTS AND

SIGNIFIKAN (Lanjutan) ESTIMATES (Continued)

b. Sumber ketidakpastian estimasi (Lanjutan) b. Sources of uncertain estimation (Continued)

Penilaian kapal Valuation of vessels

Kapal dinyatakan pada nilai wajar berdasarkan Vessels are stated at fair value based on the
penilaian yang direviu oleh manajemen dan valuation reviewed by management and
didukung penilai independen profesional. supported by independent professional
Dalam menentuan nilai wajar, metode valuers. In determining the fair value, a
penilaian yang digunakan mengikut sertakan method of valuation is used which involves
estimasi tertentu, termasuk perbandingan certain estimates, including comparisons
dengan transaksi penjualan kapal sejenis. with recent sale transactions of similar
vessels.

Informasi lanjutan terkait dengan penilaian Further information in relation to the

kapal diungkapkan dalam Catatan 10. valuation of vessels is disclosed in Note 10.
Manajemen yakin bahwa teknik penilaian yang Management believes that chosen valuation
dipilih dan asumsi yang digunakan sudah techniques and assumption used are
memadai dalam penentuan nilai wajar kapal appropriate in determination of fair value of
tersebut. vessels.

Estimasi masa manfaat dan nilai residu aset Estimated useful lives and residual value of
tetap fixed assets

Masa manfaat setiap aset tetap Grup The useful life of each of the item of Group’s
ditentukan berdasarkan kegunaan yang fixed assets is estimated based on the period
diharapkan dari penggunaan aset tersebut. over which the asset is expected to be used.
Estimasi ini ditentukan berdasarkan evaluasi Such estimation is based on internal
teknis internal. Masa manfaat setiap aset technical evaluation. The estimated useful
direviu secara periodik dan disesuaikan apabila life of each asset is reviewed periodically and
prakiraan berbeda dengan estimasi sebelumnya updated if expectations differ from previous
karena keausan, keusangan teknis dan estimates due to physical wear and tear,
komersial, hukum atau keterbatasan lainnya technical or commercial obsolescence and
atas pemakaian aset. legal or other limits on the use of the asset.

Grup juga menelaah nilai residu kapal pada The Group also reviews the residual values of
setiap akhir periode pelaporan. Pertimbangan vessels at the end of each reporting period.
yang signifikan diperlukan dalam menentukan Significant judgment is required in
nilai residu dari kapal. Dalam menentukan nilai determining the residual values of its
residu dari kapal, Grup mempertimbangkan vessels. In determining the residual values of
penerimaan bersih yang akan diperoleh dari its vessels, the Group considers the net
pelepasan aset di pasar jual beli atau pasar proceeds that would be obtained from the
barang bekas, fluktuasi harga baja dan industri disposal of the assets in the resale or scrap
yang berlaku. Perubahan masa manfaat dan markets, fluctuations in scrap steel prices
nilai residu aset tetap dapat mempengaruhi and industry practice. A change in the
jumlah biaya penyusutan yang diakui serta nilai estimated useful life and residual values of
tercatat aset tetap (Catatan 10). any item of assets would affect the recorded
depreciation and amortization expense and
the carrying values of such assets (Note 10).
 Ekshibit E/33 Exhibit E/33

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

3. PERTIMBANGAN DAN ESTIMASI AKUNTANSI YANG 3. SIGNIFICANT ACCOUNTING JUDGMENTS AND

SIGNIFIKAN (Lanjutan) ESTIMATES (Continued)

b. Sumber ketidakpastian estimasi (Lanjutan) b. Sources of uncertain estimation (Continued)

Provisi imbalan pasca kerja Provision for employee benefits

Penentuan provisi imbalan pasca kerja The determination of provison for post-
tergantung pada pemilihan asumsi tertentu employment benefits is dependent on
yang digunakan oleh aktuaris dalam selection of certain assumptions used by
menghitung jumlah liabilitas tersebut. Asumsi actuaries in calculating such amounts. Those
tersebut termasuk antara lain tingkat diskonto assumptions include among others, discount
dan tingkat kenaikan gaji. Realisasi yang rate and rate of salary increase. Actual
berbeda dari asumsi diakumulasi dan results that differ from assumptions are
diamortisasi selama periode datang dan accumulated and amortized over future
akibatnya akan berpengaruh terhadap jumlah periods and therefore, generally affect the
biaya serta provisi yang diakui di masa datang. recognized expense and recorded provision in
Walaupun asumsi dianggap telah sesuai dan future periods. While it is believed that
memadai, namun perubahan signifikan pada assumptions are reasonable and appropriate,
hasil aktual atau perubahan signifikan terhadap significant differences in actual results or
asumsi akan berpengaruh material terhadap significant changes in assumptions may
provisi imbalan pasca kerja. Informasi materially affect the provision for post-
selanjutnya termasuk jumlah tercatat terdapat employment benefit. Further information
dalam Catatan 16. including carrying value included in Note 16.

4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS

31/12/2013 31/12/2012
US$ US$
Kas 119.549 226.555 Cash on hand
Bank Cash in bank
Rupiah Rupiah
Bank Syariah Mandiri 552.105 1.395.917 Bank Syariah Mandiri
Bank INA Perdana 48.135 11.638 Bank INA Perdana
Standard Chartered Bank 29.522 7.846 Standard Chartered Bank
Bank Negara Indonesia 21.999 337.654 Bank Negara Indonesia
Citibank 8.300 49.739 Citibank
Lainnya (masing-masing dibawah Others (below US$ 15,000
US$ 15.000) 7.656 7.688 - each)
Dolar Amerika Serikat U.S Dollar
Bank Negara Indonesia 4.622.761 329.810 Bank Negara Indonesia
Deutsche Bank 587.143 9.693 Deutsche Bank
Standard Chartered Bank 324.722 90.869 Standard Chartered Bank
Bank Mega 258.463 123.181 Bank Mega
Bank Syariah Mandiri 224.172 7.921 Bank Syariah Mandiri
Citibank 71.741 50.930 Citibank
Lainnya (masing-masing dibawah Others (below US$ 15,000
US$ 15.000) 2.124 1.901 - each)
Euro - Bank Mega 206.921 - Euro - Bank Mega
Lainnya (masing-masing dibawah Others (below US$ 15,000
US$ 15.000) 1.536 9.855 - each)
Sub-jumlah 6.967.300 2.434.642 Sub-total
Setara kas - deposito berjangka Cash equivalent - time deposits
Rupiah - Bank Negara Indonesia - 51.884 Rupiah - Bank Negara Indonesia

Jumlah 7.086.849 2.713.081 Total

Suku bunga deposito berjangka Interest rates per annum on

per tahun - Rupiah - 5,25-6,16% Rupiah time deposits
 Ekshibit E/34 Exhibit E/34

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

5. ASET KEUANGAN LANCAR LAINNYA 5. OTHER CURRENT FINANCIAL ASSETS

31/12/2013 31/12/2012
US$ US$

Aset keuangan tersedia untuk dijual 28.910.281 54.305.000 Available-for-sale financial assets
Kas dibatasi penggunaannya - Restricted cash -
Bank Negara Indonesia 10.865.996 - Bank Negara Indonesia
Deposito berjangka - Time deposit -
Bank Negara Indonesia - Rupiah 41.021 - Bank Negara Indonesia - Rupiah

Jumlah 39.817.298 54.305.000 Total

Aset keuangan tersedia untuk dijual Available-for-sale financial assets

Pada tanggal 28 Desember 2011, BLT Shipping On 28 December 2011, BLT Shipping Corporation,
Corporation, entitas anak membeli 20.000 saham a subsidiary, purchased 20,000 shares or 40%
atau 40% saham kepemilikan Liville Offshore shares ownership of Liville Offshore Limited in
Limited pada Swank Ventures Ltd (SVL) seharga Swank Ventures Ltd (SVL) with purchase price
US$ 54.000.000. SVL merupakan perusahaan yang amounting to US$ 54,000,000. SVL is a corporation
didirikan di British Virgin Island yang memiliki incorporated in British Virgin Island and has a
perjanjian waran dengan PT Umine Energy warrant agreement with PT Umine Energy
Indonesia (Umine) untuk meng-exercise 179.611 Indonesia (Umine) to exercise 179,611 shares or
saham atau 15,23% saham Umine. Umine 15.23% of Umine shares. Umine is a coal company
merupakan perusahaan tambang batu bara di in Indonesia which has coal reserve of 207 million
Indonesia yang memiliki cadangan sebesar 207 juta tonnes. The Group’s management believes that it
ton. Manajemen berkeyakinan bahwa Grup tidak is not able to exert significant influence in SVL as
dapat menggunakan pengaruh signifikan terhadap the other shareholder of SVL, which has 60% of
SVL, karena pemegang saham lainnya yang memiliki share ownership, controls and manages day to day
60% pemilikan saham SVL, merupakan pengendali operations of SVL.
dan pengelola operasi sehari-hari SVL.

Pada tanggal 31 Desember 2013, entitas anak As of 31 December 2013, the subsidiary
menetapkan nilai wajar aset keuangan tersedia determined the fair value of available-for-sale
dijual atas investasi saham pada SVL sebesar financial assets on investment in shares in SVL of
US$ 28.910.000 (2012: US$ 54.305.000). US$ 28,910,000 (2012: US$ 54,305,000).

Pada tanggal 31 Desember 2013, entitas anak As of 31 December 2013, the subsidiary
mengakui kerugian perubahan nilai wajar aset recognized loss on changes in fair value of
keuangan tersedia untuk dijual sebesar available-for-sale financial assets amounting to
US$ 25.395.000 (2012: keuntungan perubahan nilai US$ 25,395,000 (2012: gain on changes in fair
wajar sebesar US$ 305.000). Manajemen value amounting to US$ 305,000). Management
mempertimbangkan bahwa kerugian penurunan consider that the loss on changes in fair value in
nilai wajar tahun 2013 merupakan penurunan nilai 2013 is a significant or prolonged decline in fair
yang signifikan atau jangka panjang, sehingga value, hence the subsidiary recognized such
mengakui perubahan nilai wajar sebesar changes in fair value as loss on impairment of
US$ 25.090.000 sebagai kerugian penurunan nilai available-for-sale financial assets amounting to
aset keuangan tersedia untuk dijual yang diakui US$ 25,090,000 which is recognized immediately
langsung dalam laba rugi (Catatan 28e). to profit or loss (Note 28e).

Pada tanggal 31 Desember 2013, PT Bayu Lestari As of 31 December 2013, PT Bayu Lestari Tanaya,
Tanaya, entitas anak, juga memiliki investasi a subsidiary, has also investment in PT Brotojoyo
sebesar US$ 281 kepada PT Brotojoyo Maritime. Maritime of US$ 281.
 Ekshibit E/35 Exhibit E/35

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

5. ASET KEUANGAN LANCAR LAINNYA (Lanjutan) 5. OTHER CURRENT FINANCIAL ASSETS (Continued)

Kas dibatasi penggunaannya Restricted cash

Akun ini merupakan kas yang dibatasi This account represents restricted cash in
penggunaannya sehubungan dengan pinjaman dari relation to the loans from Bank Negara Indonesia
Bank Negara Indonesia (Catatan 15). (Note 15).

Deposito berjangka Time deposit

Deposito berjangka dengan suku bunga 5,25% per Time deposit with interest rate at 5.25% per
tahun dan jatuh tempo pada 5 Juli 2014, yang annum and due on 5 July 2014, is restricted for
dibatasi penggunaannya terkait dengan kegiatan use in relation to the operating activity of
usaha PT Karya Bakti Adil, entitas anak yang PT Karya Bakti Adil, a subsidiary in providing
bergerak di bidang penyedia tenaga kerja human resources (Note 33).
(Catatan 33).

6. PIUTANG USAHA 6. TRADE RECEIVABLES

31/12/2013 31/12/2012
US$ US$

Berdasarkan pelanggan By D ebtors

Pihak berelasi (Catatan 27) Related parties (Note 27)
Pan Union Shipping Pte., Ltd. 168.989 178.854 Pan Union Shipping Pte., Ltd.
PT Arpeni Pratama Ocean Line Tbk 75.635 73.293 PT Arpeni Pratama Ocean Line Tbk
PT Berlian Laju Tanker Tbk 28.483 1.260.476 PT Berlian Laju Tanker Tbk
Gold Bridge Shipping Limited - 113.889 Gold Bridge Shipping Limited
PT Brotojoyo M aritime - 558.498 PT Brotojoyo Maritime
Lainnya (masing-masing dibawah Others (below US$ 103,000
US$ 103.000) 183.908 922.753 - each)

Sub-jumlah 457.015 3.107.763 Sub-total

Pihak ketiga Third parties

Kapal yang dimiliki 3.838.402 13.296.298 Owned Vessels
Jasa perantara perkapalan 1.322.938 1.198.790 Agency
Penyisihan penurunan nilai (583.319) - Allowance for impairment losses

Sub-jumlah 4.578.021 14.495.088 Sub-total

Jumlah 5.035.036 17.602.851 Total

Berdasarkan mata uang By currencies

Dolar Amerika Serikat 4.644.633 15.851.560 U.S. Dollars
Rupiah 350.324 1.468.706 Rupiah
Dolar Singapura 36.379 278.551 Singapore Dollars
Lainnya 3.700 4.034 Other

Jumlah 5.035.036 17.602.851 Total

 Ekshibit E/36 Exhibit E/36

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

6. PIUTANG USAHA (Lanjutan) 6. TRADE RECEIVABLES (Continued)

Sebelum menerima suatu pelanggan, Grup menilai Before accepting any new customer, the Group
kualitas kredit pelanggan yang potensial tersebut. assesses the potential customer’s credit quality.

Pada tanggal 31 Desember 2013, pelanggan yang As of 31 December 2013, customers with trade
piutang usahanya di atas 5% dari jumlah piutang receivables above 5% of total trade receivables,
usaha, adalah kepada: PT Pertamina (Persero), are from: PT Pertamina (Persero), PT Chandra
PT Chandra Asri Petrochemical Tbk dan PT Spectra Asri Petrochemical Tbk and PT Spectra Samudra
Samudra Line. Grup mereviu keadaan masing- Line. The Group reviews the individual status of
masing individu piutang ini secara berkala untuk receivables regularly to minimize the
meminimalisasi risiko konsentrasi kredit. concentration of credit risk.

Jangka waktu rata-rata kredit pendapatan jasa The average credit period on the sale of services
adalah 30 hari. Analisa umur piutang yang belum is 30 days. The aging analysis of trade receivables
jatuh tempo dan telah lewat jatuh tempo adalah that were not yet due and past due is as follows:
sebagai berikut:

31/12/2013 31/12/2012
US$ US$

Berdasarkan umur (hari) By age category (days)

Belum jatuh tempo 1.217.935 1.581.454 Not yet due
Lewat jatuh tempo Past due
1 - 60 hari 1.933.327 5.220.167 1 - 60 days
61 - 120 hari 317.064 1.074.245 61 - 120 days
121 - 180 hari 739.035 987.175 121 - 180 days
> 180 hari 827.675 8.739.810 > 180 days
Jumlah 5.035.036 17.602.851 Total

Grup tidak memiliki jaminan atas saldo-saldo The Group does not hold any collateral over these
piutang usaha ini. Berdasarkan penelaahan atas balances. Based on a review of the status of the
status masing-masing piutang pada akhir periode individual receivables at the end of the reporting
pelaporan, manajemen Grup memutuskan bahwa period, the Group’s management determined
tidak terdapat perubahan signifikan terhadap that there was no significant change in the credit
kualitas kredit, sehingga penyisihan penurunan nilai quality, hence the allowance for impairment loss
piutang yang dibentuk sebesar US$ 583.319 pada of trade receivables amounting to US$ 583,319 as
tanggal 31 Desember 2013, telah memadai untuk of 31 December 2013 is adequate to cover
menutup kemungkinan tidak tertagihnya piutang. possible losses on uncollectible receivables.

Piutang usaha entitas anak digunakan sebagai The trade receivables of a subsidiary is pledged
jaminan pinjaman jangka panjang dari Bank Negara as collateral to long-term loan from Bank Negara
Indonesia (Catatan 15). Indonesia (Note 15).

7. PERSEDIAAN 7. INVENTORIES

Terutama merupakan persediaan bahan bakar. Inventories mainly consist of bunker fuel.

Persediaan entitas anak digunakan sebagai jaminan Inventories of a subsidiary are pledged as
pinjaman jangka panjang Bank Negara Indonesia collateral to the long-term loan of Bank Negara
(Catatan 15). Indonesia (Note 15).
 Ekshibit E/37 Exhibit E/37

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

8. BIAYA DIBAYAR DIMUKA 8. PREPAID EXPENSES

31/12/2013 31/12/2012
US$ US$

Biaya docking 499.496 1.385.001 Docking cost

Asuransi 325.056 856.590 Insurance
Lainnya 1.210.474 1.426.591 Others

Jumlah 2.035.026 3.668.182 Total

9. PIUTANG KEPADA PIHAK-PIHAK BERELASI 9. RECEIVABLES FROM RELATED PARTIES

Piutang kepada pihak berelasi Receivables from related parties

Rincian piutang berdasarkan pihak adalah sebagai The details of receivables based on parties is as
berikut: follows:

31/12/2013 31/12/2012
US$ US$

PT Berlian Laju Tanker Tbk 90.994.311 89.427.482 PT Berlian Laju Tanker Tbk
Emerald M aritime Pte., Ltd. - 6.831.839 Emerald Maritime Pte., Ltd.
Brotojoyo M aritime Pte., Ltd. - 902.870 Brotojoyo Maritime Pte., Ltd.
Lainnya (masing-masing Others ( below US$ 103,000
dibawah US$ 103.000) - 578.880 - each)

Jumlah 90.994.311 97.741.071 Total

Penurunan nilai piutang (9.833.046) (1.871.445) Impairment losses on receivable

Bagian lancar - (8.142.241) Current portion

Bagian tidak lancar 81.161.265 87.727.385 Long tem portion

Piutang kepada PT Berlian Laju Tanker Tbk (BLT) The receivables from PT Berlian Laju Tanker Tbk
termasuk US$ 81.124.349 yang berasal dari (BLT) include US$ 81,124,349 which arise from
pinjaman bank milik BLT pada tahun 2012 several bank loans of BLT in 2012 (Note 15)
(Catatan 15) ditransfer kepada Perusahaan. Saldo transferred to the Company. The other balance of
piutang lainnya kepada pihak berelasi merupakan receivables from related parties consist of the
transfer liabilitas pasca kerja karyawan kepada transfer of post employment benefits liability to
Perusahaan, biaya yang dibayarkan terlebih dahulu the Company, expenses paid in advance from and
oleh dan kepada Perusahaan dan pinjaman to the Company and temporary loan. This
sementara. Piutang ini dikenakan bunga pinjaman receivables is charged with interest rates at 6%
sebesar 6% per tahun untuk periode sampai dengan per annum for the period until 22 March 2013 and
22 Maret 2013 dan 8% per tahun untuk tahun yang 8% per annum for the year ended 31 December
berakhir 31 Desember 2012. Penerimaan piutang 2012. The repayment of receivables will be made
kepada pihak berelasi akan dilakukan sesuai dengan in accordance with BLT’s Restructuring Plan.
Rencana Perdamaian BLT.
 Ekshibit E/38 Exhibit E/38

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

9. PIUTANG KEPADA PIHAK-PIHAK BERELASI 9. RECEIVABLES FROM RELATED PARTIES

(Lanjutan) (Continued)

Terkait dengan Penundaan Kewajiban Pembayaran In relation to the Suspension of Obligation

Utang (PKPU) BLT, pada tanggal 23 Maret 2013 Payment of Liability (PKPU) of BLT, on 23 March
kesepakatan awal Rencana Perdamaian BLT dengan 2013, the term sheet of BLT’s Restructuring Plan
para krediturnya telah disahkan oleh Pengadilan with its creditors has been ratified by the Central
Niaga Jakarta Pusat. BLT mengajukan Rencana Jakarta Commercial Court. BLT proposed the
Perdamaian untuk restrukturisasi tagihan antar Restructuring Plan to restructure intercompany
entitas anak termasuk tagihan Perusahaan. claim including the Company’s receivables.

Kondisi utama kesepakatan awal Rencana The key restructuring term sheet under the
Perdamaian diikhtisarkan sebagai berikut: Restructuring are summarized below:

 Proposal yang diajukan untuk penyelesaian  It is proposed that the subsidiaries’ claims
utang tagihan antar entitas anak (“Kreditur (“Intercompany Creditors”) be dealt with as
Entitas Anak”) adalah; tidak ada pembayaran set out; no payments to any intercompany
atas tagihan entitas-entitas anak atau creditor or satisfaction of any intercompany
pelunasan atas tagihan entitas-entitas anak claim until all existing secured and unsecured
sampai seluruh tagihan kreditur separatis dan creditors are repaid in full; intercompany
kreditur konkuren yang ada saat ini telah creditors will not exercise their voting rights
dibayar lunas; kreditur entitas anak tidak akan in the PKPU or otherwise assert or make any
turut serta dalam pemungutan suara PKPU atau claims upon the BLT in any manner
melakukan klaim kepada BLT dalam bentuk whatsoever; all intercompany claims (except
apapun; seluruh tagihan antar entitas anak for any intercompany claims owned by the
(kecuali untuk tagihan antar entitas anak yang Company) shall be transferred to a new
dimiliki oleh Perusahaan) akan dialihkan entity which will be a wholly owned
kepada entitas baru yang akan dimiliki subsidiary of BLT and this new entity will
seluruhnya oleh BLT dan entitas baru ini akan provide legally binding commitments to not
memberikan komitmen yang mengikat secara participate in, vote in or otherwise affect
hukum untuk tidak berpartisipasi dalam any restructuring of debt or other claims
melakukan pemungutan suara dalam atau against BLT; Payment-In-Kind (PIK) interest
berdampak pada restrukturisasi utang atau of 2% per annum on intercompany claims by
tagihan lain terhadap BLT; Bunga Payment-In- the Company and/or its subsidiaries;
Kind (PIK) sebesar 2% per tahun atas tagihan intercompany claims owned by the Company
antar entitas anak oleh Perusahaan dan/atau and/or the Company subsidiaries shall be
entitas anak Perusahaan; tagihan antar entitas paid in priority to other intercompany
anak yang dimiliki oleh Perusahaan dan/atau claims.
entitas anak Perusahaan akan dibayar sebagai
prioritas dari tagihan antar entitas anak.

 Setelah ratifikasi Rencana Perdamaian dan  After ratification of the Restructuring Plan
sebelum seluruh kreditur dibayar secara penuh and before all creditors are repaid in full
berdasarkan ketentuan dari Rencana under the terms of this the Restructuring
Perdamainan, apabila BLT menjadi subjek atas Plan, if the BLT becomes the subject of
proses PKPU lain atau proses hukum yang another set of PKPU proceedings or other
serupa untuk restrukturisasi atas utang- similar legal proceedings for the
utangnya kepada para kreditur secara kolektif, restructuring of its debts with its creditors
maka kreditur entitas anak tidak akan memiliki collectively, the Intercompany Creditors shall
hak dalam pemungutan suara sebagai kreditur refrain from voting as creditors of BLT in
BLT atas proses tersebut. those proceedings.
 Ekshibit E/39 Exhibit E/39

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

9. PIUTANG KEPADA PIHAK-PIHAK BERELASI 9. RECEIVABLES FROM RELATED PARTIES

(Lanjutan) (Continued)

Pada tanggal 31 Desember 2013 piutang kepada BLT As of 31 December 2013, the receivables from BLT
sebesar US$ 99.262.068 (2012: US$ 94.604.631) amounted to US$ 99,262,068 (2012:
yang termasuk piutang bunga sebesar US$ 94,604,631), which included interest
US$ 8.267.757 (2012: US$ 5.177.149) sebelum receivable of US$ 8,267,757 (2012: US$ 5,177,149)
dikurangi penyisihan penurunan nilai piutang before deduction of allowance for impairment
sebesar US$ 9.833.046 (2012: US$ 1.871.445). losses of receivable of US$ 9,833,046 (2012:
Manajemen menelaah status piutang ini dan US$ 1,871,445). The management reviewed the
memutuskan untuk tidak mencatat pendapatan status of such receivable and determined to not
bunga sebesar US$ 3.090.608 (2012: recognize interest income amounting to
US$ 5.177.149), terkait dengan kesulitan keuangan US$ 3,090,608 (2012: US$ 5,177,149), in relation
yang dihadapi BLT. Perusahaan akan mencatat to the financial difficulties faced by BLT. The
pendapatan bunga tersebut berdasarkan Company will recognize such interest income
realisasinya. Selanjutnya manajemen mengevaluasi based on realizations. Furthermore, management
penyisihan penurunan nilai piutang kepada BLT dan evaluated allowance for impairment losses of
menetapkan penyisihan sebesar US$ 7.961.601 receivables from BLT and determined such
(2012: US$ 1.871.445) (Catatan 25). Manajemen allowance of US$ 7,961,601 (2012: US$ 1,871,445)
berkeyakinan penyisihan penurunan nilai piutang (Note 25). Management believes that the
tersebut telah memadai. allowance of impairment losses is adequate.

Pada akhir periode pelaporan, Grup dan BLT masih As of the reporting date, the Group and BLT are
dalam proses rekonsiliasi atas saldo piutang kepada still on process of reconciliation for the balance
pihak berelasi. of receivables of related party.

10. ASET TETAP 10. FIXED ASSETS

Aset tetap merupakan aset tetap pemilikan Fixed assets consists of direct acquisitions of
langsung dengan rincian sebagai berikut: assets as follows:

Penambahan/ Pengurangan/ Revaluasi/

01/01/2013 Additions Deductions Revaluations 31/12/2013
US$ US$ US$ US$ US$
Nilai revaluasi: At revalued amount:
Kapal 252.919.659 512.703 70.191.296 3.017.239 186.258.305 Vessel
Biaya perolehan: At cost:
Peralatan 209.037 116.091 1.573 - 323.555 Equipment
Kendaraan 60.798 114.314 - - 175.112 Vehicle

Jumlah 253.189.494 743.108 70.192.869 3.017.239 186.756.972 Total

Akumulasi penyusutan: Accumulated depreciation:

Kapal 96.320.554 10.584.390 39.567.639 - 67.337.305 Vessel
Peralatan 157.050 33.275 196 - 190.129 Equipment
Kendaraan 54.763 12.327 - - 67.090 Vehicle

Jumlah 96.532.367 10.629.992 39.567.835 - 67.594.524 Total

Jumlah tercatat 156.657.127 119.162.448 Net carrying amount

 Ekshibit E/40 Exhibit E/40

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

10. ASET TETAP (Lanjutan) 10. FIXED ASSETS (Continued)

Penambahan/ Pengurangan/ Revaluasi/

01/01/2012 Additions Deductions Revaluations 31/12/2012
US$ US$ US$ US$ US$
Nilai revaluasi: At revalued amount:
Kapal 243.838.654 3.200.108 - 5.880.897 252.919.659 Vessel
Biaya perolehan: At cost:
Peralatan 505.565 25.952 322.480 - 209.037 Equipment
Kendaraan 60.798 - - - 60.798 Vehicle

Jumlah 244.405.017 3.226.060 322.480 5.880.897 253.189.494 Total

Akumulasi penyusutan: Accumulated depreciation:

Kapal 85.088.654 11.231.900 - - 96.320.554 Vessel
Peralatan 244.292 24.873 112.115 - 157.050 Equipment
Kendaraan 42.922 11.841 - - 54.763 Vehicle

Jumlah 85.375.868 11.268.614 112.115 - 96.532.367 Total

Jumlah tercatat 159.029.149 156.657.127 Net carrying amount

Beban penyusutan dialokasikan sebagai berikut: Depreciation expense was allocated to the
following:

2013 2012
US$ US$

Beban langsung (Catatan 22) 10.584.390 11.231.900 Direct costs (Note 22)
Beban administrasi (Catatan 23) 45.602 36.714 Administrative expense (Note 23)

Jumlah 10.629.992 11.268.614 Total

Kerugian penjualan aset tetap adalah sebagai Loss on disposal of fixed assets are as follows:
berikut:

2013 2012
US$ US$

Harga jual kapal 13.844.113 - Proceeds from sale of vessels

Biaya penjualan (527.303) - Selling cost
Harga jual - bersih 13.316.810 - Net proceeds
Nilai tercatat (30.623.657) - Net carrying amount

Kerugian penjualan kapal (17.306.847) - Loss on sale of vessels

Kerugian penjualan aset tetap Loss on sale of fixed assets
selain kapal (210) - other than vessels

Kerugian penjualan aset tetap (17.307.057) - Loss on sale of fixed assets

 Ekshibit E/41 Exhibit E/41

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

10. ASET TETAP (Lanjutan) 10. FIXED ASSETS (Continued)

Pada tanggal 31 Desember 2013, Grup memiliki As of 31 December 2013, the Group had 11 vessels
11 kapal yang terdiri dari 2 kapal kimia, 4 kapal which consist of 2 chemical vessels, 4 gas vessels,
gas, 4 kapal minyak dan 1 kapal FPSO (2012: 4 oil vessels and 1 FPSO vessel (2012: 15 vessels
15 kapal yang terdiri dari 2 kapal kimia, 4 kapal which consist of 2 chemical vessels, 4 gas vessels,
gas, 8 kapal minyak dan 1 kapal FPSO). 8 oil vessels and 1 FPSO vessel).

Penambahan kapal merupakan kapitalisasi biaya The additions to vessels consist of capitalization
docking. of docking expense.

Pengurangan kapal tahun 2013 terdiri dari 4 kapal The reduction in vessels in 2013 pertains to the
minyak, yang hasil penjualannya akan digunakan sale of 4 oil vessels, the proceeds of which will
untuk pembelian kapal baru dalam rangka be used to acquire new vessels for the
restrukturisasi armada Grup (Catatan 33) dan restructuring of the Group’s fleet (Note 33) and
pelunasan utang BLT kepada Bank Mandiri. to repay the loans of BLT from Bank Mandiri.

Pada tahun 2012, Perusahaan memindahkan aset In 2012, the Company transferred its fixed assets
tetapnya sebesar nilai buku atau setara at carrying amount or equivalent to US$ 210,365
US$ 210.365 kepada BLT (Catatan 27). to BLT (Note 27).

Kapal yang dicatat berdasarkan nilai revaluasi The vessels are stated at their revalued amount
dengan pendekatan harga pasar yang telah direviu using market approach being the fair value
oleh manajemen dan didukung oleh laporan penilai reviewed by management and supported by
independen profesional tanggal 18 Mei 2014, 3 Juni independent professional valuations dated
2014 dan 13 Juni 2014. 18 May 2014, 3 June 2014 and 13 June 2014.

Jika kapal Grup diukur menggunakan nilai historis Had the Group’s vessels been measured on a
pada tanggal 31 Desember 2013, nilai tercatat historical cost basis as of 31 December 2013,
kapal tersebut akan sebesar US$ 133.203.260 their carrying amount would have been
(2012: US$ 156.536.729). US$ 133,203,260 (2012: US$ 156,536,729).

Seluruh kapal digunakan sebagai jaminan pinjaman All of vessels are used as collateral of loans
dan garansi bank (Catatan 15 dan 27d). and a bank guarantee (Notes 15 and 27d).

Pada tanggal 31 Desember 2013, kapal Grup As of 31 December 2013, the Group’s vessels were
diasuransikan terhadap kerusakan lambung dan insured with LCH Insurance (s) Pte., Ltd., a third
kerusakan kapal (Hull and Machinery) dan risiko party, for hull and machinery damages and war
perang, Increased Value and Additional Owners risk, Increased Value and Additional Owners
Interest (I.V. & A.O.I.) dengan jumlah Interest (I.V. & A.O.I) for US$ 125,650,000 (2012:
pertanggungan seluruhnya sebesar US$ 125.650.000 US$ 208,006,000) through LCH Insurance (s) Pte.,
(2012: US$ 208.006.000) melalui LCH Insurance (s) Ltd., third party.
Pte., Ltd., pihak ketiga.

Manajemen berpendapat bahwa nilai Management believes that the insurance coverage
pertanggungan tersebut cukup untuk menutup is adequate to cover possible losses on the assets
kemungkinan kerugian atas aset yang insured.
dipertanggungkan.
 Ekshibit E/42 Exhibit E/42

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

11. PINJAMAN JANGKA PENDEK 11. SHORT-TERM LOANS

Pada tanggal 22 September 2011, Perusahaan On 22 September 2011, the Company obtained a
memperoleh fasilitas pinjaman modal kerja sebesar US$ 50 million working capital loan facility from
US$ 50 juta dari Merrill Lynch (Asia Pacific) Limited Merrill Lynch (Asia Pacific) Limited and Orchard
dan Orchard Centar Master Limited (MLOR), dengan Centar Master Limited (MLOR), which is
jangka waktu 12 bulan dan suku bunga sebesar 9% repayable over 12 months at an interest rate of
per tahun yang dibayar secara kuartalan. 9% per annum payable quarterly. A redemption
Redemption premium sebesar 1% dari pokok premium of 1% of the principal loan will be paid
pinjaman akan dibayarkan pada tanggal pelunasan. on maturity date. The facility consists of two
Fasilitas ini terdiri dari dua tranche - Tranche A tranches - Tranche A with maximum loan amount
dengan jumlah maksimum US$ 30 juta dan Tranche of US$ 30 million and Tranche B with maximum
B dengan jumlah maksimum US$ 20 juta, tetapi loan amount of US$ 20 million, but to date only
sampai saat ini hanya Tranche A yang telah Tranche A has been fully drawn down. This
dicairkan seluruhnya. Fasilitas ini dijamin oleh facility is guaranteed by PT Berlian Laju Tanker
PT Berlian Laju Tanker Tbk (BLT) dan sejumlah Tbk (BLT) and is secured over a portion of the
saham Perusahaan yang dimiliki BLT. BLT’s equity in the Company.

Pada tanggal 28 Desember 2011, Perusahaan tidak On 28 December 2011, the Company failed to pay
membayar bunga yang jatuh tempo kepada MLOR. the interest due to MLOR. MLOR declared event
MLOR menyatakan event of default dan of default and filed claims against BLT in its
mengajukan klaim terhadap BLT di dalam proses Suspension of Obligation Payment of Liability
Penundaan Kewajiban Pembayaran Utang (PKPU) (PKPU) proceedings as the guarantor of the loan.
sebagai penjamin pinjaman.

Sesuai dengan Rencana Perdamaian BLT, klaim Pursuant to the Restructuring Plan of BLT,
MLOR tidak akan terkena dampak dan MLOR berhak MLOR’s claims will remain unaffected and MLOR
menggunakan jaminannya sesuai dengan will be entitled to deal with its security in
persyaratan dan kondisi yang ditetapkan dalam accordance with the terms and conditions set out
dokumen penjaminan. Dengan berhasilnya in the security documents. Upon the successful
restrukturisasi BLT dan/atau pelaksanaan jaminan restructuring of BLT and/or enforcement of
MLOR, MLOR akan melepaskan jaminan yang MLOR’s security, MLOR shall release the
diberikan oleh BLT terkait dengan fasilitas ini dan guarantees provided by BLT in relation to the
tidak lagi menjadi kreditur BLT. Dalam hal itu, loan facility and cease to be a creditor of BLT. In
MLOR tidak akan berhak untuk menerima that event, MLOR shall not be entitled to receive
pembayaran sesuai Rencana Perdamaian dari BLT any payments under the Restructuring Plan from
dan/atau entitas anak (kecuali untuk Perusahaan BLT and/or any of its subsidiaries (except for the
dan entitas anaknya). Company and its subsidiaries).

Pada tahun 2012, Perusahaan telah menangguhkan In 2012, the Company has deferred the payments
pembayaran pokok, bunga dan denda kepada of principal, interest and penalty to MLOR. As of
MLOR. Pada tanggal 31 Desember 2012, Perusahaan 31 December 2012, the Company recorded
mencatat beban bunga dan denda sebesar interest expense and penalty of US$ 7,800,573, of
US$ 7.800.573 yang terdiri dari US$ 5.747.100 yang which US$ 5,747,100 was recorded as part of the
dicatat sebagai utang US$ 2.053.473 yang dicatat loan and the remaining US$ 2,053,473 recorded
sebagai beban akrual sesuai dengan notice of under accrued interest expense, in accordance
default dari MLOR. with the notice of default from MLOR.
 Ekshibit E/43 Exhibit E/43

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

11. PINJAMAN JANGKA PENDEK (Lanjutan) 11. SHORT-TERM LOANS (Continued)

Pada tanggal 24 Nopember 2014, Grup dan MLOR In 24 November 2014, the Group and MLOR have
telah menyetujui restrukturisasi utang dengan agreed to a debt restructuring with a key
kondisi utama restrukturisasi bahwa tanggal jatuh restructuring provision that the final maturity
tempo pembayaran pinjaman menjadi tanggal date of the loan will be on 15 January 2015;
15 Januari 2015; pokok utang Tranche A Tranche A’s principal amounting to
US$ 30.000.000 dan beban bunga dan denda US$ 30,000,000 and interest expense and penalty
sebesar US$ 7.800.573 yang akan dibayarkan pada amounting to US$ 7,800,573 will be paid on
tanggal 15 Januari 2015, dan tidak dikenakan bunga 15 January 2015; and interest will not be charged
mulai dari 1 Januari 2013 sampai dengan starting from 1 January 2013 until 31 December
31 Desember 2014 dan bunga sebesar 20% per tahun 2014 and interest rate at 20% per annum will be
akan dikenakan mulai dari 1 Januari 2015 sampai charged starting from 1 January 2015 until
dengan tanggal pelunasan. repayment date.

Sehubungan dengan pinjaman ini, Grup diwajibkan In relation to the above loan, the Group is
memenuhi beberapa covenant tertentu, antara required to comply with certain covenants,
lain, untuk memastikan bahwa jumlah utang including among others, to ensure that
konsolidasian tidak lebih dari US$ 170 juta; jumlah consolidated total debt does not exceed US$ 170
utang konsolidasian pada EBITDA konsolidasian million; total debt to consolidated EBITDA ratio
tidak lebih dari 4 kali; dan menjaga interest cover shall not exceed 4 times; and maintain interest
ratio lebih dari 2,5. cover ratio of more than 2.5.

Pinjaman kepada MLOR yang telah direstrukturisasi Such restructured loan to MLOR will be settled
tersebut akan diselesaikan dengan saham with the Company’s shares pledged by BLT as the
Perusahaan yang dijaminkan oleh BLT sebagai guarantor of the loan and portion of the loan will
penjamin pinjaman dan sebagian akan dikonversi be converted to shares of the Company. In
menjadi saham Perusahaan. Sebagai kompensasi, compensation, the Company will offset this
Perusahaan akan memperhitungkan jumlah ini amount with the receivables from BLT. Based on
dengan piutang kepada BLT. Berdasarkan hal-hal these matters, the Group has classified its short-
tersebut, Grup mengklasifikasi pinjaman jangka term loan from MLOR amounting to
pendek kepada MLOR sebesar US$ 37.800.573 US$ 37,800,573 to long-term loans as of
menjadi pinjaman jangka panjang pada tanggal 31 December 2013. The Group should classify such
31 Desember 2013. Grup seharusnya mengklasifikasi liabilities in accordance with all of the original
liabilitas tersebut berdasarkan kondisi perjanjian terms of agreement before restructuring
sebelum restrukturisasi termasuk tetapi tidak including but not limited to recognising the loan
terbatas untuk mengakui pinjaman sebagai as current liabilities in order to conform with
liabilitas jangka pendek agar sesuai dengan Standar Indonesian Financial Accounting Standards. If such
Akuntansi Keuangan di Indonesia. Jika liabilitas liabilities had been classified in accordance with
tersebut diklasifikasikan berdasarkan kondisi all of the original terms of agreement before
perjanjian sebelum restrukturisasi untuk tahun restructuring for the year ended 31 December
yang berakhir 31 Desember 2013, liabilitas jangka 2013, non-current liabilities would decrease by
panjang akan menurun sebesar US$ 37.800.573; US$ 37,800,573; current liabilities would increase
liabilitas jangka pendek akan meningkat sebesar by US$ 47,810,877 and loss for the year would
US$ 47.810.877 dan rugi tahun berjalan akan increase by US$ 10,010,304.
meningkat sebesar US$ 10.010.304.
 Ekshibit E/44 Exhibit E/44

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

12. UTANG USAHA 12. TRADE PAYABLES

31/12/2013 31/12/2012
US$ US$
Berdasarkan pemasok By creditors
Pihak berelasi (Catatan 27) Related parties (Note 27)
PT Berlian Laju Tanker Tbk 1.980.085 14.043.537 PT Berlian Laju Tanker Tbk
Pan Union Agencies Pte., Ltd. 742.514 787.216 Pan Union Agencies Pte., Ltd.
Barunawati Maritime Pte., Ltd 543.120 543.120 Barunawati Maritime Pte., Ltd
Indradi Maritime Pte., Ltd. 158.373 - Indradi Maritime Pte., Ltd.
Gold Bridge Shipping Ltd. 111.289 - Gold Bridge Shipping Ltd.
PT Brotojoyo Maritime - 1.643.242 PT Brotojoyo Maritime
Gold Bridge Shipping Corp. - 1.631.804 Gold Bridge Shipping Corp.
Lainnya (masing-masing dibawah Others (below US$ 103,000
US$
Line103.000)
Tbk 273.236 385.430 - each)

Sub jumlah 3.808.617 19.034.349 Sub total

Pihak ketiga Third parties

Pemasok 8.027.267 14.980.427 Suppliers
Jasa perantara perkapalan 1.469.828 1.677.073 Shipping agents

Sub jumlah 9.497.095 16.657.500 Sub total

Jumlah 13.305.712 35.691.849 Total

Berdasarkan mata uang By currencies

Dolar Amerika Serikat 7.654.107 24.953.643 U.S. Dollars
Dolar Singapura 2.632.218 6.340.304 Singapore Dollars
Rupiah 1.495.700 3.351.712 Rupiah
Yen 1.201.696 895.661 Yen
Lain-lain 321.991 150.529 Others

Jumlah 13.305.712 35.691.849 Total

Utang usaha merupakan liabilitas kepada The trade payables represent liabilities to other
perusahaan perkapalan sebagai perantara dan sub- shipping companies as agents and to sub-agents,
perantara dan utang pemasok atas pembelian and to suppliers for purchases of oil, fuel and
minyak, bahan bakar, suku cadang, peralatan kapal spare parts, vessel equipment and other
dan peralatan lainnya. Seluruh utang usaha tidak disbursement. All trade payables are unsecured.
dijamin.

13. PERPAJAKAN 13. TAXATION

a. Pajak dibayar dimuka a. Prepaid taxes

31/12/2013 31/12/2012
US$ US$

Pajak penghasilan pasal 28A 28.669 27.240 Income tax article 28A
Pajak Pertambahan Nilai 265.409 1.036.331 Value Added Tax
Jumlah 294.078 1.063.571 Total
 Ekshibit E/45 Exhibit E/45

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

13. PERPAJAKAN (Lanjutan) 13. TAXATION (Continued)

b. Utang pajak b. Taxes payable

31/12/2013 31/12/2012
US$ US$
Pajak penghasilan final - Pasal 15 69.725 95.084 Final income tax - Article 15
Pajak penghasilan Income tax
Pasal 4 ayat 2 2.022 916 Article 4 (2)
Pasal 21 455.617 533.190 Article 21
Pasal 23 14.539 13.861 Article 23
Pasal 25 4.050 1.671 Article 25
Pasal 26 6.000 10.698 Article 26
Pasal 29 19.157 60.283 Article 29
Pajak Pertambahan Nilai - bersih 368.958 298.413 Value Added Tax - net

Jumlah 940.068 1.014.116 Total

c. Pajak penghasilan c. Income tax

Penghasilan (beban) pajak Grup terdiri dari Tax income (expense) of the Group consists of
sebagai berikut: the following:

2013 2012
US$ US$

Pajak penghasilan final (560.127) (834.934) Final income tax

Pajak kini (29.825) (67.009) Current tax
Penyesuaian pajak kini tahun lalu 49.877 - Adjustment to prior year current tax
Pajak tangguhan (28.698) 2.361 Deferred tax

Beban pajak (568.773) (899.582) Tax expense

Pajak penghasilan final Final income tax

Perhitungan pajak penghasilan final terkait The computation of final tax on revenues from
dengan pendapatan sewa dan pengoperasian charter and vessels operation of the Group,
kapal Grup adalah sebagai berikut: are as follows:

2013 2012
US$ US$
Jumlah pendapatan yang Revenue from charter and
berhubungan dengan sewa kapal vessels operation
sebelum eliminasi 46.677.241 69.577.854 before elimination

Pajak final atas pendapatan sewa Final tax on charter and

dan pengoperasian kapal (1,2%) 560.127 834.934 vessels operation (1.2%)
Pembayaran selama tahun berjalan 490.402 739.850 Payments during the year

Utang pajak penghasilan final 69.725 95.084 Final income tax payable
 Ekshibit E/46 Exhibit E/46

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

13. PERPAJAKAN (Lanjutan) 13. TAXATION (Continued)

c. Pajak penghasilan (Lanjutan) c. Income tax (Continued)
Pajak kini Current tax
Pendapatan Grup, kecuali GLT, KBA, entitas The Group’s revenue, except for GLT, KBA,
anak yang tidak aktif dan sebagian pendapatan dormant subsidiaries and part of BLS and the
BLS dan Perusahaan dikenakan pajak Company’s revenue is subjected to final
penghasilan final sesuai dengan Surat income tax in consistent with Tax Returns
Pemberitahuan Pajak (SPT) yang disampaikan ke (SPT) filing to the Tax office.
Kantor Pelayanan Pajak.
Sampai dengan tanggal 31 Desember 2013, Grup Up to 31 December 2013, Group has not
masih belum mendapat persetujuan dari obtained the approval from Directorate
Direktorat Jenderal Pajak untuk melakukan General of Taxes to report its taxation
pelaporan perpajakan dalam mata uang US$ reporting in US$ (functional currency),
(mata uang fungsional), sehingga perhitungan therefore the tax loss calculation is based on
rugi pajak dilakukan berdasarkan laba rugi the comprehensive income in Rupiah currency.
komprehensif dalam mata uang Rupiah.

Rekonsiliasi antara laba sebelum pajak dalam The reconciliation between profit before tax
mata uang Rupiah Perusahaan yang tidak in Rupiah of the Company arising from
dikenakan pajak penghasilan final dan laba revenues not subject to final tax and taxable
sebelum pajak adalah sebagai berikut: profit are as follows:

2013 2012
Rp'000 Rp'000

Rugi sebelum pajak Perusahaan (494.479.178) (225.370.000) Loss before tax of the Company

Imbalan pasca kerja (1.406.725) 2.231.156 Post-employment benefits

Penghasilan tidak kena pajak Non-taxable income
Penghasilan sewa kapal yang telah Vessels charter income
dikenakan pajak penghasilan final (145.775.145) (191.393.046) subjected to final tax
Penghasilan bunga yang telah Interest income subjected
dikenakan pajak penghasilan final (136.549) (45.793) to final tax
Beban tidak dapat dikurangkan Non-deductible expenses
Beban terkait penghasilan yang telah Expenses relating to charter income
dikenakan pajak penghasilan final 643.160.613 417.096.042 subjected to final tax
Representasi dan jamuan 91.125 73.549 Representation and entertainment

Laba kena pajak 1.454.141 2.591.908 Taxable profit

Beban pajak kini Perusahaan Current tax expense of the Company

(25% X Rp 1.454.141.000) (25% X Rp 1,454,141,000)
(2012: 25% X Rp 2.591.908.000) 363.535 647.977 (2012: 25% X Rp 2,591,908,000)

Dijabarkan dalam US$ 29.825 67.009 Translation in US$

Dikurangi pajak dibayar dimuka 10.668 6.726 Less prepaid tax

Utang pajak kini Perusahaan 19.157 60.283 Current tax payables

 Ekshibit E/47 Exhibit E/47

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

13. PERPAJAKAN (Lanjutan) 13. TAXATION (Continued)

c. Pajak penghasilan (Lanjutan) c. Income tax (Continued)

Pajak kini (Lanjutan) Current tax (Continued)

Entitas anak tidak menghitung beban dan utang Subsidiaries did not calculate their current tax
pajak terkait dengan entitas anak memiliki rugi expense and payable since subsidiaries have
pajak sebagai berikut: tax losses as follows:

2013 2012
Rp'000 Rp'000

Rugi pajak entitas anak Tax losses of the subsidiaries

2013 (412.985) - 2013
2012 (8.358.763) (8.358.763) 2012
2011 (3.590.110) (4.404.102) 2011
2010 (2.197.356) (2.197.356) 2010
2009 (68.479) (68.479) 2009
2008 (661.409) (2.261.109) 2008
2007 - (5.811.986) 2007

Jumlah akumulasi rugi pajak (15.289.102) (23.101.795) Accumulated tax loss

Pajak tangguhan Deferred tax

Aset pajak tangguhan Grup timbul dari The Group’s deferred tax assets arise from
perbedaan temporer provisi imbalan pasca kerja temporary difference of provision for post-
pada GLT dan KBA dengan rincian sebagai employee benefits of GLT and KBA as follows:
berikut:
2013 2012
US$ US$

Saldo awal tahun 109.732 165.012 Beginning of the year

Transfer - neto - (57.641) Transfer - Net
Dikreditkan (dibebankan) ke laba rugi (28.698) 2.361 Credited (charged) to profit and loss
Saldo akhir tahun 81.034 109.732 End of the year

Rugi pajak dapat dikompensasikan dengan laba The tax loss can be utilized against the
kena pajak pada masa lima tahun yang akan taxable income for a period of five years
datang sejak kerugian pajak terjadi. Grup tidak subsequent to the year the tax loss was
mengakui aset pajak tangguhan atas rugi pajak incurred. The Company unrecognized deferred
sebesar Rp 15.289.102 ribu atau ekuivalen tax assets on tax loss of Rp 15,289,102
US$ 1.254.336 pada tanggal 31XDesember 2013, thousand or equivalent to US$ 1,254,336 at
karena Grup belum memiliki dasar yang 31XDecember 2013, since the Group does not
memadai untuk menentukan manfaat pajak atas have a sufficient basis to determine the
aset pajak tangguhan tersebut. Aset pajak future tax benefit on such deferred tax asset.
tangguhan akan diakui dalam laporan keuangan The deferred tax asset will be recognized in
konsolidasian ketika laba kena pajak diharapkan the consolidated financial statement when the
tersedia pada masa datang yang pada saat taxable income is expected to be available in
tersebut rugi pajak dapat direalisasikan. future periods from which such tax losses
could be realized.
 Ekshibit E/48 Exhibit E/48

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

13. PERPAJAKAN (Lanjutan) 13. TAXATION (Continued)

c. Pajak penghasilan (Lanjutan) c. Income tax (Continued)

Pajak tangguhan (Lanjutan) Deferred tax (Continued)

Rekonsiliasi antara penghasilan (beban) pajak Reconciliation between the tax income
dan hasil perkalian laba akuntansi sebelum (expenses) and the amounts computed by
pajak dengan tarif pajak yang berlaku adalah applying the effective tax rate to profit
sebagai berikut: before tax is as follows:
2013 2012
US$ US$
Laba (rugi) sebelum pajak Income (loss) before tax
menurut laporan laba rugi per consolidated statement of
komprehensif konsolidasian (41.104.441) 4.786.542 comprehensive income
Penghasilan pajak dengan tarif Tax income at prevailing
yang berlaku (25%) 10.276.110 (1.196.636) tax rate (25%)
Pengaruh atas: Effects of:
Pengahasilan bunga yang telah Interest income subject to final
dikenakan pajak final 396 1.883 income tax
Penghasilan setelah dikurangi beban Income net of expenses subjected
yang telah dikenakan pajak final (4.447.746) 1.106.024 to final income tax
Beban tidak dapat diperhitungkan 99.228 (68.967) Non-deductible expenses
Kerugian penurunan nilai aset Loss on impairment of
keuangan tersedia untuk dijual (6.272.500) - available-for-sale financial assets
Rugi pajak tidak diakui Unrecognized tax losses
pada entitas anak (8.471) (213.929) in subsidiaries
Penyesuaian pajak tangguhan Adjustment to prior years
tahun sebelumnya 6.905 - deferred tax
Penyesuaian pajak kini tahun Adjustment to prior years
sebelumnya 49.877 - current tax
Penjabaran mata uang asing 238.049 306.977 Translation foreign currency
Pemakaian rugi pajak tahun Recognition of unrecognised prior
sebelumnya yang tidak diakui 49.506 - year tax loss
Pajak penghasilan final (560.127) (834.934) Final income tax
Beban pajak (568.773) (899.582) Tax expense

14. BEBAN AKRUAL 14. ACCRUED EXPENSES

31/12/2013 31/12/2012
US$ US$
Vessel operations and
Operasi kapal dan docking 6.989.558 2.487.769 docking
Beban keuangan 1.273.653 2.385.515 Finance cost
Lain-lain 435.954 1.160.902 Others

Jumlah 8.699.165 6.034.186 Total

Beban akrual operasi kapal terdiri atas estimasi Accrued expenses for vessel operations consist of
biaya pelabuhan dan biaya pengelolaan kapal. estimated port cost and ship management.
Beban akrual docking merupakan estimasi biaya Accrued expenses for docking consist of estimated
atas jasa perbaikan dan perawatan kapal. repair cost and ship maintenance.
 Ekshibit E/49 Exhibit E/49

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

15. PINJAMAN JANGKA PANJANG 15. LONG-TERM LOANS

31/12/2013 31/12/2012
US$ US$

Bank Negara Indonesia dan Lembaga Bank Negara Indonesia and Lembaga
Pembiayaan Ekspor Indonesia Pembiayaan Ekspor Indonesia
(Indonesia Eximbank) 39.816.512 - (Indonesia Eximbank)
Merrill Lynch (Asia Pacific) Limited Merrill Lynch (Asia Pacific) Limited
dan Orchard Centar Master Limited and Orchard Centar Master Limited
(Catatan 11) 37.800.573 - (Note 11)
Deutsche Investitions und Deutsche Investitions und
Entwicklungsgesellschaft mbH 21.714.583 25.314.583 Entwicklungsgesellschaft mbH
Bank Mega 9.931.566 10.357.205 Bank Mega
Bank Syariah Mandiri/Bank Syariah BRI/ Bank Syariah Mandiri/Bank Syariah BRI/
Bank Muamalat Indonesia/ Bank Muamalat Indonesia/
BPD Jatim Divisi Usaha Syariah 9.377.309 12.006.205 BPD Jatim Divisi Usaha Syariah
Bank Syariah Mandiri/BPD Jatim Divisi Bank Syariah Mandiri/BPD Jatim Divisi
Usaha Syariah/Bank Muamalat Usaha Syariah/Bank Muamalat
Indonesia/Bank Jabar Banten Syariah 9.351.936 11.788.080 Indonesia/Bank Jabar Banten Syariah
PT Danatama Perkasa 1.960.000 - PT Danatama Perkasa
Bank Negara Indonesia - 29.231.955 Bank Negara Indonesia
Lembaga Pembiayaan Lembaga Pembiayaan
Ekspor Indonesia Ekspor Indonesia
(Indonesia Eximbank) - 20.036.194 (Indonesia Eximbank)

Jumlah 129.952.479 108.734.222 Total

Biaya transaksi belum
diamortisasi (363.903) (611.858) Unamortized transaction cost
Bagian jatuh tempo dalam
waktu satu tahun (6.717.470) (5.348.164) Current maturities

Bagian jangka panjang - bersih 122.871.106 102.774.200 Long-term portion - net

Jadual pembayaran kembali pinjaman jangka The schedule of long-term loans repayment as
panjang adalah sebagai berikut: follows:

31/12/2013 31/12/2012
US$ US$
Dalam satu tahun 6.836.169 5.348.164 Not later than one year
Setelah tahun pertama Later than one year and
sampai dengan kelima 101.349.382 91.247.571 not later than five years
Setelah tahun kelima 21.766.928 12.138.487 Later than five years

Jumlah 129.952.479 108.734.222 Total

 Ekshibit E/50 Exhibit E/50

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

15. PINJAMAN JANGKA PANJANG (Lanjutan) 15. LONG-TERM LOANS (Continued)

Rincian pinjaman jangka panjang adalah sebagai The details of long-term loans are as follows:
berikut:

a. Bank Negara Indonesia (BNI) dan Lembaga a. Bank Negara Indonesia (BNI) and Lembaga
Pembiayaan Ekspor Indonesia (Indonesia Pembiayaan Ekspor Indonesia (Indonesia
Eximbank) (IEB) Eximbank) (IEB)

Pada tanggal 6 Nopember 2013, Perusahaan On 6 November 2013, the Company obtained
memperoleh fasilitas kredit sindikasi syndicated credit facilities with maximum
maksimum sebesar Rp 472,9 miliar dari BNI dan credit of Rp 472.9 billion from BNI and IEB
IEB dengan BNI sebagai agen fasilitas dan agen with BNI as agent and security trustee, which
jaminan, yang terdiri dari: consist of:

 Fasilitas Tranche A sebesar Rp 279,2  Tranche A facility amounting to Rp 279.2

miliar digunakan untuk pembiayaan billion which was used to refinance loans
kembali pinjaman atas kapal-kapal yang from BNI on vessels financed by BNI. This
dibiayai BNI. Pinjaman dibebani suku loan bears interest rate at 9% per annum
bunga 9% per tahun yang ditinjau secara which is reviewed periodically and
periodik dan dibayar setiap bulan. repaid monthly.

 Fasilitas Tranche B sebesar Rp 193,7  Tranche B facility amounting to Rp 193.7

miliar atau equivalent US$ 17 juta billion or equivalent to US$ 17 million
digunakan untuk pembiayaan kembali which was used to refinance loans from
pinjaman atas kapal-kapal yang dibiayai BNI on vessels financed by IEB. This loan
IEB. Pinjaman dibebani suku bunga 6% bears interest rate at 6% per annum
per tahun yang ditinjau secara periodik which is reviewed periodically and
dan dibayar setiap bulan. repaid monthly.

Fasilitas kredit sindikasi ini akan dibayar secara These syndicated credit facilities are payable
cicilan selama 8 tahun, jatuh tempo pada on several installments for 8 years with final
5 Nopember 2021 dan dijamin dengan kapal maturity on 5 November 2021 and secured by
MT Gandini, MT Badraini, MT Gas Maluku, MT Gandini, MT Badraini, MT Gas Maluku,
MT Pergiwo, MT Barawati, MT Gas Natuna, MT Pergiwo, MT Barawati and MT Gas Natuna
kapal yang akan dibeli, piutang usaha, vessels, vessels to be bought, trade accounts
persediaan dan assignment rekening receivable, inventories and assignment of
penampungan dan kontrak sewa kapal. escrow accounts and lease vessel contracts.
MT Badraini, MT Pergiwo dan MT Barawati MT Badraini, MT Pergiwo, and MT Barawati
telah dijual pada tahun 2013. Hasil pelepasan were sold in 2013. The proceeds from the
kapal ditampung dalam kas dibatasi sale of vessels were retained in restricted
penggunaanya yang ditujukan untuk pembelian cash which are intended to purchase new
kapal baru (Catatan 5). vessels (Note 5).

Sehubungan dengan fasilitas pinjaman sindikasi In relation to these syndicated loan facilities,
ini, Perusahaan diwajibkan untuk menjaga the Company is required to comply with
covenant tertentu, antara lain, menjaga certain covenants, including among others, to
current ratio minimal 100%, debt to equity maintain a current ratio of minimum of 100%,
ratio maksimum 2,5 dan debt service coverage debt to equity ratio not exceeding 2.5 and
tidak kurang dari 1. debt service coverage of not less than 1.
 Ekshibit E/51 Exhibit E/51

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

15. PINJAMAN JANGKA PANJANG (Lanjutan) 15. LONG-TERM LOANS (Continued)

b. Deutsche Investitions und b. Deutsche Investitions und

Entwicklungsgesellschaft mbH (DEG) Entwicklungsgesellschaft mbH (DEG)

Pada bulan April 2010, PT Sapphire Maritime In April 2010, PT Sapphire Maritime (SM), a
(SM), entitas anak memperoleh fasilitas subsidiary obtained a long-term loan facility
pinjaman investasi jangka panjang dari DEG from DEG amounting to US$ 29,750,000,
sebesar US$ 29.750.000, jatuh tempo maturing on 15 March 2018, with floating
15 Maret 2018, suku bunga mengambang dan interest rate and secured by the corporate
dijamin dengan corporate guarantee dari BLT guarantee of BLT and MT Gas Komodo vessel.
dan kapal MT Gas Komodo. Pada tanggal As of 1 March 2012, SM and DEG agreed to
1 Maret 2012, SM dan DEG menyetujui antara adjust the interest payment and repayment
lain penyesuaian pembayaran bunga dan skedul schedule.
angsuran.

Perjanjian pinjaman mencakup persyaratan The loan agreement contained certain

tertentu antara lain SM menjaga rasio utang covenants, including among others, SM will
bank terhadap nilai wajar kapal rasio debt maintain loan to fair value of vessel ratio and
service coverage tidak kurang dari 1,1. debt service coverage ratio of not less than
1.1.

c. Bank Mega c. Bank Mega

Pada tanggal 20 April 2012, Perusahaan On 20 April 2012, the Company accepted the
menerima alihan fasilitas dan pembaruan transfer of the loan and renewal of the debt
utang BLT dari Bank Mega sebesar facility of US$ 10,640,964 of BLT from Bank
US$ 10.640.964. Fasilitas ini dijamin dengan Mega. This loan is secured by MT Gas Bali,
kapal MT Gas Bali, jatuh tempo maturing on 12 December 2018 and charged
12 Desember 2018 dengan suku bunga at floating interest rate.
mengambang.

Sehubungan dengan pinjaman ini, Perusahaan In relation to the above loan, the Company is
diwajibkan memenuhi batasan-batasan required to comply with certain covenants as
tertentu sesuai dengan perjanjian termasuk stipulated in agreements, including among
menjaga rasio-rasio utang bersih terhadap others, to maintain net debt to equity ratio
ekuitas tidak lebih dari 3 kali dan rasio debt of not more than 3 and debt service coverage
service coverage diperbolehkan kurang dari 1 ratio of less than 1 for the first year is
untuk tahun pertama, untuk tahun kedua akan allowed, for the second year will be subject
direviu dan untuk tahun ke 3 tidak to review and for the third year will not be
diperbolehkan kurang dari 1. less than 1.

Pada tanggal 16 Januari 2014, fasilitas On 16 January 2014, this loan facility has
pinjaman ini telah dilunasi dengan menjual been fully paid through the proceeds from
kapal MT Gas Bali (Catatan 33). the sale MT Gas Bali vessel (Note 33).
 Ekshibit E/52 Exhibit E/52

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

15. PINJAMAN JANGKA PANJANG (Lanjutan) 15. LONG-TERM LOANS (Continued)

d. Bank Syariah Mandiri (sebagai penanggung d. Bank Syariah Mandiri (as lead manager),
jawab utama), Bank Syariah BRI, Bank Bank Syariah BRI, Bank Muamalat
Muamalat Indonesia, dan BPD Jatim Divisi Indonesia, and BPD Jatim Divisi Usaha
Usaha Syariah (BSMI) Syariah (BSMI)

Pada 16 Desember 2009, PT Ruby Maritime On 16 December 2009, PT Ruby Maritime

(RM), PT Sapphire Maritime (SM), dan PT Banyu (RM), PT Sapphire Maritime (SM), and
Laju Shipping (BLS), entitas anak, memperoleh PT Banyu Laju Shipping (BLS), subsidiaries,
fasilitas Pinjaman Investasi Jangka Panjang obtained long-term investment loan facilities
berdasarkan skema Syariah (Qardh dan under Syariah (Qardh and Murabahah) scheme
Murabahah) dari BSMI dengan maksimum kredit from BSMI with a total maximum credit of
seluruhnya sebesar Rp 180 miliar. Fasilitas Rp 180 billion. These loan facilities are
pinjaman ini dibayar secara cicilan kuartalan payable in 20 quarterly installments and due
sebanyak 20 kali dan jatuh tempo Desember in December 2014, with balloon payments of
2014, dengan nilai pembayaran pokok sekaligus Rp 60.3 billion. Indicative return is between
sebesar Rp 60,3 miliar. Nisbah antara 12,421% 12.421% till 13.5% which is reviewed
sampai 13,5% yang akan ditinjau secara periodically, and is payable quarterly. Such
periodik, dimana pembayarannya setiap loans are secured with a corporate guarantee
kuartal. Pinjaman ini dijamin oleh corporate from the BLT, vessels MT Dewayani, MT Dewi
guarantee dari BLT dan kapal MT Dewayani, Sri and MT Tirtasari. On 1 June 2012, RM, SM,
MT Dewi Sri dan MT Tirtasari. Pada tanggal BLS and BSMI agreed among others the
1 Juni 2012, RM, SM, BLS dan BSMI menyetujui extension of the terms of payments of the
antara lain memperpanjang jangka waktu loan facility to December 2016 and the
fasilitas pinjaman menjadi Desember 2016 dan change in corporate guarantee from BLT to
perubahan corporate guarantee dari BLT ke the Company.
Perusahaan.

e. Bank Syariah Mandiri (sebagai penanggung e. Bank Syariah Mandiri (as lead manager),
jawab utama), BPD Jatim Divisi Usaha BPD Jatim Divisi Usaha Syariah, Bank
Syariah, Bank Muamalat Indonesia, dan Bank Muamalat Indonesia, and Bank Jabar
Jabar Banten Syariah (BSMS) Banten Syariah (BSMS)

Pada bulan Juni 2012, BLT mengalihkan In June 2012, BLT transferred loan facility
utangnya dari BSMS kepada PT Emerald from BSMS amounted to Rp 168.1 billion to
Maritime (EM), entitas anak, sebesar Rp 168,1 PT Emerald Maritime (EM), a subsidiary. This
miliar. Pinjaman ini dijamin dengan kapal FPSO loan is secured with FPSO Brotojoyo. On
Brotojoyo. Pada tanggal 17 Oktober 2012, EM 17 October 2012, EM and BSMS agreed to
dan BSMS menyetujui antara lain perubahan amend among others changes in installment
jadual angsuran dan jatuh tempo pada 20 Mei schedule and maturity to 20 May 2015 of
2015 atas Tranche A sebesar Rp 48,5 miliar dan Tranche A loan of Rp 48.5 billion and Tranche
Tranche B sebesar Rp 65,5 miliar dan B loan of Rp 65.5 billion and changes in the
perubahan dasar perhitungan indicative basis calculation of indicative return.
return.

Pada tanggal 26 Nopember 2013, EM dan BSMS On 26 November 2013, EM and BSMS agreed
menyetujui antara lain perubahan jadual to amend among others changes in
angsuran dan perpanjangan jatuh tempo installment schedule and extension of
menjadi 20 Mei 2016 atas Tranche A dan maturity to 20 May 2016 of Tranche A and
Tranche B dan perubahan dasar perhitungan Tranche B and changes in the basis
indicative return. calculation of indicative return.
 Ekshibit E/53 Exhibit E/53

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

15. PINJAMAN JANGKA PANJANG (Lanjutan) 15. LONG-TERM LOANS (Continued)

e. Bank Syariah Mandiri (sebagai penanggung e. Bank Syariah Mandiri (as lead manager),
jawab utama), BPD Jatim Divisi Usaha BPD Jatim Divisi Usaha Syariah, Bank
Syariah, Bank Muamalat Indonesia, dan Bank Muamalat Indonesia, and Bank Jabar
Jabar Banten Syariah (BSMS) (Lanjutan) Banten Syariah (BSMS) (Continued)

Sehubungan dengan pinjaman EM, Grup In relation to the loan of EM, the Group is
diwajibkan memenuhi batasan-batasan required to comply with certain covenants,
tertentu termasuk antara lain menjaga rasio including among others, to maintain net debt
utang bersih terhadap ekuitas tidak lebih dari to equity ratio of not more than 3.5 and the
3,5 dan rasio debt service coverage tidak ratio of debt service coverage ratio of not
kurang dari 1 berdasarkan saldo konsolidasian. less than 1 based on consolidated balance.

f. PT Danatama Perkasa f. PT Danatama Perkasa

Pada tanggal 11 Desember 2013, PT Citrine On 11 December 2013, PT Citrine Maritime, a

Maritime, entitas anak, memperoleh fasilitas subsidiary, obtained a loan facility
pinjaman sebesar US$ 1.960.000 dari amounting to US$ 1,960,000 from
PT Danatama Perkasa untuk pengembalian hasil PT Danatama Perkasa for repayment of the
penjualan kapal entitas anak kepada pihak proceeds from sale of subsidiary’s vessel to
ketiga yang kemudian dibatalkan pembeli third party, which was subsequently
terkait dengan tidak dipenuhinya persyaratan cancelled by the buyer due to unfulfilled
tertentu sebagaimana disebutkan dalam certain requirement as stipulated in the
perjanjian. Pinjaman ini berjangka waktu agreement. This loan has a maximum term of
maksimal 60 bulan dan dijamin oleh 60 months and is guaranteed by the
Perusahaan. Pinjaman ini dikenakan bunga 1% Company. The loan bears interest of 1% plus
diatas suku bunga deposito berjangka Bank time deposits interest rate in Bank Negara
Negara Indonesia dalam US$ untuk periode 1 Indonesia for one-year period in US$ currency
tahun dan dibayarkan setiap tahun sejak and payable every year from the date of the
tanggal perjanjian. agreement.

g. Bank Negara Indonesia g. Bank Negara Indonesia

Pada tanggal 10 Februari 2012, Perusahaan On 10 February 2012, the Company accepted
menerima pengalihan dua fasilitas pinjaman transfers of two loan facilities of BLT, parent
BLT, entitas induk, dari BNI. Fasilitas pinjaman entity, from BNI. The transferred loan
alihan berupa fasilitas pinjaman sebesar facilities pertain to the loan facility
Rp 219,3 miliar yang dijamin dengan kapal amounting to Rp 219.3 billion secured by
MT Gandini dan MT Badraini, jatuh tempo MT Gandini and MT Badraini vessels,
22 Maret 2015 dan fasilitas pinjaman sebesar maturing on 22 March 2015 and the loan
Rp 66.541 juta yang dijamin dengan kapal facility amounting to Rp 66.541 million
MT Gas Maluku, jatuh tempo 15 September secured by Gas Maluku vessel, maturing on
2016. Kedua fasilitas ini dibebani suku bunga 15 September 2016. Both facilities are
mengambang. Pada tanggal 29 Juni 2012, charged at floating interest rate. 0n 29 June
Perusahaan dan BNI menyetujui antara lain 2012, the Company and BNI agreed to amend
mengenai perubahan jumlah angsuran dan among others changes in installment and
covenant tertentu. certain covenant.

Pada tanggal 6 Nopember 2013, fasilitas ini On 6 November 2013, this loan facility has
dibiayai kembali melalui fasilitas kredit been refinanced through a syndicated credit
sindikasi (Catatan 15a). facility (Note 15a).

h. Lembaga Pembiayaan Ekspor Indonesia h. Lembaga Pembiayaan Ekspor Indonesia

(Indonesia Eximbank) (IEB) (Indonesia Eximbank) (IEB)

Pada tanggal 21 Februari 2012, Perusahaan On 21 February 2012, the Company accepted
menerima alihan fasilitas utang BLT dari IEB the transfer of the loan facility of BLT from
sebesar Rp 193,75 miliar. Fasilitas ini dijamin IEB amounting to Rp 193.75 billion. This loan
dengan kapal MT Barawati, MT Pergiwo dan MT is secured by MT Barawati, MT Pergiwo and
Gas Natuna, jatuh tempo 25 Maret 2016, MT Gas Natuna, maturing on 25 March 2016
dengan suku bunga mengambang. and bears floating interest rate.
 Ekshibit E/54 Exhibit E/54

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

15. PINJAMAN JANGKA PANJANG (Lanjutan) 15. LONG-TERM LOANS (Continued)

h. Lembaga Pembiayaan Ekspor Indonesia h. Lembaga Pembiayaan Ekspor Indonesia

(Indonesia Eximbank) (IEB) (Lanjutan) (Indonesia Eximbank) (IEB) (Continued)

Sehubungan dengan pinjaman ini, Perusahaan In relation to the above loan, the Company is
diwajibkan memenuhi batasan-batasan required to comply with certain covenants,
tertentu, termasuk menjaga rasio utang bersih including among others, to maintain net debt
terhadap ekuitas tidak lebih dari 3. to equity ratio of not more than 3.

Pada tanggal 6 Nopember 2013, fasilitas ini On 6 November 2013, this loan facility has
dibiayai kembali melalui fasilitas kredit been refinanced through a syndicated credit
sindikasi (Catatan 15a). facility (Note 15a).
Tanpa persetujuan tertulis dari kreditur, Grup tidak Without the written consent of creditors, the
boleh, antara lain, menerima fasilitas pinjaman Group should not, among others, obtain new loans
dari bank/pihak lain atau mengikatkan diri sebagai from bank/other parties or a guarantor of the
penjamin utang pihak lain, yang dapat loan of other parties, which may affect/violate
mempengaruhi/melanggar batasan rasio keuangan ratios/financial covenants (except trade payables
(kecuali utang usaha yang dibuat dalam rangka carried out in connection with the Group’s
usaha sehari-hari); menjual, menyewakan, business) sell, lease out or transfer some or all
mentransfer, memindahkan hak, menghapuskan assets of guarantee the shares of a company,
harta kekayaan; menjaminkan saham perusahaan especially companies owned by the controlling
khususnya saham perusahaan yang dimiliki oleh shareholder, change the flag of the vessel to a
pemegang saham pengendali kepada pihak foreign flag, pay off loans to shareholders or
kreditur; mengubah bendera kapal yang dibiayai guarantee the loans provided by the shareholder
menjadi bendera negara asing; melakukan or guarantor; carry out business which is not
pembayaran kembali kepada pemegang saham dan connection with the Group’s business or reduce or
atau penjamin atas pinjaman-pinjaman yang expand its business which can affect the
diberikan oleh pemegang saham dan atau repayment of debt; file a legal claim, defer the
penjamin; menjalankan kegiatan usaha yang tidak payment to courts, carry out bankruptcy
berhubungan dengan usaha atau melakukan proceedings or liquidation, change the structure
perluasan atau penyempitan usaha yang dapat of the Group except increase capital from
mempengaruhi pengembalian utang; mengajukan retained earnings or issue new shares or paid up
permohonan untuk dinyatakan pailit, penundaan capital from shareholders or issue bonds except
pembayaran utang kepada pengadilan niaga, within the limits of the financial covenants.
melakukan pembubaran atau likuidasi; mengubah
struktur permodalan kecuali untuk peningkatan
modal berasal dari saldo laba atau pengeluaran
saham baru atau setoran dari pemegang saham
atau mengeluarkan obligasi/sukuk baru kecuali di
dalam batas-batas rasio keuangan.
Pada setiap akhir periode pelaporan manajemen At the end of each reporting period, management
berkeyakinan seluruh persyaratan dalam perjanjian believes that all the terms of the agreements
telah dipenuhi. Manajemen juga telah mereviu have been met. Management has also reviewed
prosedur penyelesaian Grup atas pembayaran the Group's settlement procedures in paying
utang, dan memastikan keadaan tersebut tidak loans, and ensured such circumstances did not
akan melanggar perjanjian. breach of such agreements.

16. PROVISI IMBALAN PASCA-KERJA 16. PROVISION FOR POST-EMPLOYMENT BENEFITS

Grup membukukan imbalan pasca kerja imbalan The Group provides post-employment benefits for
pasti untuk karyawan sesuai dengan Undang Undang its qualifying employees in accordance with Labor
Ketenagakerjaan No. 13/2003. Pada tanggal Law No. 13/2003. As of 31 December 2013, the
31 Desember 2013, jumlah karyawan yang berhak number of employees entitled to the post-
atas imbalan pasca kerja adalah 115 karyawan employement benefits is 115 (2012: 123).
(2012: 123).
 Ekshibit E/55 Exhibit E/55

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

16. PROVISI IMBALAN PASCA-KERJA (Lanjutan) 16. PROVISION FOR POST-EMPLOYMENT BENEFITS
(Continued)

Beban imbalan pasca kerja yang diakui dalam laba Amounts recognized in the profit or loss in
rugi adalah: respect of these post-employment benefits are as
follows:

2013 2012
US$ US$

Biaya jasa kini 204.402 187.876 Current service cost

Biaya bunga 116.531 124.029 Interest costs
Amotisasi biaya jasa lalu (2.825) (716) Amortized past service costs
Pengaruh kurtailmen (428.729) - Curtailment effect

Jumlah (110.621) 311.189 Total

Provisi imbalan pasca kerja di laporan posisi The amounts of provision for post-employment
keuangan adalah sebagai berikut: benefits recognized in statements of financial
position are as follows:

31/12/2013 31/12/2012
US$ US$

Nilai kini kewajiban tidak didanai 1.321.663 2.240.637 Present value of unfunded obligations
Keuntungan aktuarial belum diakui 348.943 87.055 Unrecognized actuarial gain

Provisi bersih 1.670.606 2.327.692 Net provision

Mutasi provisi bersih di laporan posisi keuangan Movements in the net liability recognized in the
adalah sebagai berikut: statements of financial position are as follows:

2013 2012
US$ US$

Saldo awal 2.327.692 1.299.276 Beginning of the year

Beban tahun berjalan (110.621) 311.189 Employee benefits cost for the year
Penyesuaian atas mutasi karyawan Adjustment of movement of employees
dan koreksi data (18.450) 840.875 and data correction
Pembayaran tahun berjalan (77.624) (8.953) Benefit payments
Penjabaran mata uang asing (450.391) (114.695) Translation adjustment

Saldo akhir 1.670.606 2.327.692 End of the year

 Ekshibit E/56 Exhibit E/56

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

16. PROVISI IMBALAN PASCA-KERJA (Lanjutan) 16. PROVISION FOR POST-EMPLOYMENT BENEFITS
(Continued)

Mutasi nilai kini kewajiban tidak didanai adalah Movements in the present value of unfunded
sebagai berikut: obligations are as follows:
2013 2012
US$ US$
Present value of unfunded obligations
Nilai kini kewajiban - awal tahun 2.240.637 1.187.662 - beginning of year
Biaya jasa kini 204.402 187.876 Current service cost
Beban bunga 116.531 124.029 Interest cost
Penyesuaian atas mutasi karyawan Adjustment of movement of employees
dan koreksi data (14.804) 854.602 and data correction
Pembayaran tahun berjalan (66.556) (8.689) Benefits paid
Pengaruh kurtailmen (291.266) - Curtailment effect
(Keuntungan) kerugian aktuaria (361.526) 3.158 Actuarial (gain) losses
Penjabaran mata uang asing (505.755) (108.001) Translation adjustment

Present value of unfunded obligation-

Nilai kini kewajiban - akhir tahun 1.321.663 2.240.637 end of the year

Perhitungan imbalan pasca kerja dihitung oleh The cost of providing post-employment benefits is
aktuaris independen PT Padma Radya Aktuaria. calculated by independent actuary, PT Padma
Asumsi utama yang digunakan dalam menentukan Radya Aktuaria. The actuarial valuation was
penilaian aktuarial adalah sebagai berikut: carried out using the following key assumptions:
2013 2012

Tingkat diskonto per tahun 8,50% 5,75% Discount rate per annum
Tingkat kenaikan gaji per tahun 10,00% 10,00% Salary increment rate per annum
Tingkat kematian 100%/TMI3 100%/TMI3 Mortality rate
Tingkat pengunduran diri 10% sampai usia 10% sampai usia Resignation rate
36 tahun kemudian 36 tahun kemudian
menurun secara linier menurun secara linier
sampai 0% di usia sampai 0% di usia
55 tahun/ 55 tahun/
10% per annum 10% per annum
until age 36 then until age 36 then
decreasing linearly decreasing linearly
to 0% until age 55 to 0% until age 55

Riwayat penyesuaian adalah sebagai berikut: Historical experience adjustments are as follows:

31/12/2013 31/12/2012 31/12/2011 31/12/2010

US$ US$ US$ US$
Nilai kini kewajiban Present value of defined
imbalan pasti 1.321.663 2.240.637 1.187.662 63.551 benefit obligation
Penyesuaian pengalaman Experience adjustments
liabilitas program (128.272) (60.417) (11.357) (895) on plan liabilities

Awal perhitungan aktuaria dimulai tahun 2010. The earliest the actuarial calculations started in
Manajemen berpendapat bahwa estimasi yang 2010. Management believes that the provisions
dibuat telah memadai untuk menutup liabilitas made are adequate to cover the Group’s
manfaat karyawan Grup. employee benefits obligation.
 Ekshibit E/57 Exhibit E/57

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

17. MODAL SAHAM 17. SHARE CAPITAL

Susunan pemegang saham Perusahaan sesuai The composition of shareholders based on Share
dengan Registrasi Biro Administrasi Efek dan Registration Bureau (Registrasi Biro Administrasi
PT Kustodian Sentral Efek Indonesia adalah sebagai Efek) and PT Kustodian Sentral Efek Indonesia is a
berikut: follows:

31/12/2013
Jumlah modal
Persentase ditempatkan
Jumlah saham/ kepemilikan/ dan disetor/ Pengukuran
Nama pemegang saham/ Number Percentage Total paid-up kembali/
Name of shareholders of shares of ownership capital Remeasurement
% Rp'000 US$
PT Berlian Laju Tanker Tbk 5.800.000.000 32,86 580.000.000 65.159.276
Kidson Pte Ltd 2.609.958.541 14,79 260.995.854 29.321.209
PT Southeast Capital Investment 2.017.017.104 11,43 201.701.710 22.659.892
PT Goldsachs Capital Investment 1.942.000.000 11,00 194.200.000 21.817.123
PT Benakat Integra Tbk 1.818.000.000 10,30 181.800.000 20.424.063
Masyarakat/Public (masing-masing dibawah
5% dari jumlah/each below 5% of total) 3.463.024.355 19,62 346.302.436 38.904.856

Jumlah/Total 17.650.000.000 100,00 1.765.000.000 198.286.419

31/12/2012
Jumlah modal
Persentase ditempatkan
Jumlah saham/ kepemilikan/ dan disetor/ Pengukuran
Nama pemegang saham/ Number Percentage Total paid-up kembali/
Name of shareholders of shares of ownership capital Remeasurement
% Rp'000 US$
PT Berlian Laju Tanker Tbk 5.800.000.000 32,86 580.000.000 65.159.276
Deutsche Bank Singapore
DCS A/C PT Berlian Laju Tanker Tbk 2.609.958.541 14,79 260.995.854 29.321.209
PT Southeast Capital Investment 2.017.017.104 11,43 201.701.710 22.659.892
PT Goldsachs Capital Investment 1.942.000.000 11,00 194.200.000 21.817.123
PT Benakat Integra Tbk 1.818.000.000 10,30 181.800.000 20.424.063
Masyarakat/Public (masing-masing dibawah
5% dari jumlah/each below 5% of total) 3.463.024.355 19,62 346.302.436 38.904.856

Jumlah/Total 17.650.000.000 100,00 1.765.000.000 198.286.419

18. TAMBAHAN MODAL DISETOR 18. ADDITIONAL PAID IN CAPITAL

31/12/2013 31/12/2012
US$ US$
Agio saham dari penawaran umum saham Additional paid in capital from
perusahaan kepada masyarakat initial public offering totaling
sebesar 6.650 juta saham dengan nilai 6,650 million shares with
nominal Rp 100 per saham dan harga par value of Rp 100 per share and
penawaran Rp 155 per saham 42.780.280 42.780.280 offered at Rp 155 per share
Biaya emisi saham (8.430.988) (8.430.988) Stock issuance cost
Bersih 34.349.292 34.349.292 Net
Selisih nilai transaksi restrukturisasi Difference in value of restructuring
entitas sepengendali (Catatan 2 transactions among entities under
dan 20) (147.454) - common control (Notes 2 and 20)
Tambahan modal disetor 34.201.838 34.349.292 Additional paid in capital
 Ekshibit E/58 Exhibit E/58

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

19. CADANGAN 19. RESERVES

31/12/2013 31/12/2012
US$ US$

Surplus revaluasi 5.606.894 7.159.083 Revaluation reserves

Revaluasi investasi - 305.000 Investment revaluation
Jumlah 5.606.894 7.464.083 Total

Surplus revaluasi Revaluation reserves

31/12/2013 31/12/2012
US$ US$

Saldo awal tahun 7.159.083 16.014.650 Balance at beginning of year

Penurunan revaluasi-bersih (1.151.989) (11.976.487) Revaluation decrease-net
Transfer ke defisit (400.200) (336.253) Transfer to deficit
Reklasifikasi akun (Catatan 34) - 3.457.173 Reclassification of account (Note 34)

Saldo akhir tahun 5.606.894 7.159.083 Balance at end of year

Revaluasi investasi Investment revaluation

Revaluasi investasi merupakan perubahan nilai Investment revaluation reserves comprises of

wajar aset keuangan tersedia untuk dijual. changes in fair value of available-for-sale
financial asset.

20. SELISIH NILAI TRANSAKSI RESTRUKTURISASI 20. DIFFERENCE IN VALUE OF RESTRUCTURING

ENTITAS SEPENGENDALI TRANSACTIONS AMONG ENTITIES UNDER
COMMON CONTROL

Akun ini merupakan selisih nilai transaksi This account represents difference in value of
restrukturisasi entitas sepengendali yang berasal restructuring transactions among entities under
dari: common control arising from:

31/12/2013 31/12/2012
US$ US$

Akuisisi entitas anak (938.847) 2.518.326 Acquisition of the subsidiaries

Pembelian kapal dan perlengkapan The purchase of vessel and equipment
MT Gas Maluku (1.208.107) (1.208.107) MT Gas Maluku
Pembelian kapal dan perlengkapan The purchase of vessel and equipment
MT Badraini 1.999.500 1.999.500 MT Badraini
Reklasifikasi akun (Catatan 34) - (3.457.173) Reclassification of accounts (Note 34)
Reklasifikasi ke tambahan modal Reclassification to additonal paid-in
disetor (Catatan 2 dan 18) 147.454 - capital (Notes 2 and 18)

Saldo akhir tahun - (147.454) Balance at end of year

 Ekshibit E/59 Exhibit E/59

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

20. SELISIH NILAI TRANSAKSI RESTRUKTURISASI 20. DIFFERENCE IN VALUE OF RESTRUCTURING

ENTITAS SEPENGENDALI (Lanjutan) TRANSACTIONS AMONG ENTITIES UNDER
COMMON CONTROL (Continued)
Akuisisi entitas anak Acquisition of subsidiaries
Selisih nilai transaksi
restrukturisasi entitas
sepengendali/
Bagian perusahaan Difference in value of
atas aset bersih/ restructuring transactions
The Company's Harga Jual/ among entities under
portion of net asset Selling Price common control
US$ US$ US$

PT Banyu Laju Shipping 1.568.425 (102.741) 1.465.684

PT Bayu Lestari Tanaya 10.038 (23.298) (13.260)
PT Gemilang Bina Lintas Tirta (2.367.936) (23.298) (2.391.234)
PT BLT International Group 23.261 (23.298) (37)

Jumlah/Total (766.212) (172.635) (938.847)

Pembelian kapal dan perlengkapan MT Gas The purchase of vessel and equipment MT Gas
Maluku Maluku
Akun ini merupakan selisih harga jual dengan nilai This account represents the difference between
buku atas pembelian kapal MT Gas Maluku oleh the purchase price and book value of vessel
Perusahaan dari Gas Maluku Maritime Pte., Ltd. MT Gas Maluku sold by the Company to by Gas
dengan perincian sebagai berikut: Maluku Maritime Pte., Ltd. with details as
follows:
Jumlah/Total
US$
Nilai buku kapal MT Gas Maluku 9.981.481 Book value of vessel MT Gas Maluku
Surplus revaluasi (865.164) Revaluation reserve

Bersih 9.116.317 Net

Harga pembelian (10.324.424) The purchase price

Selisih harga beli dan nilai buku aset Difference between the purchase price and
tetap - bersih (1.208.107) the book value of fixed asset - net

Pembelian kapal dan perlengkapan MT Badraini The purchase of vessel and equipment
MT Badraini
Akun ini merupakan selisih harga jual dengan nilai This account represents the difference between
buku atas pembelian kapal MT Badraini oleh anak the purchase price and book value for the
perusahaan, PT Pearl Maritime dari Badraini acquisition of vessel and equipment – MT Badraini
Maritime Pte., Ltd. dengan perincian sebagai by PT Pearl Maritime, a subsidiary, from Badraini
berikut: Maritime Pte., Ltd. with details as follows:
Jumlah/Total
US$

Nilai buku kapal MT Badraini (14.945.694) Book value of vessel MT Badraini

Harga pembelian 16.945.194 The purchase price
Selisih harga beli dan nilai buku aset Difference between the purchase price and
tetap - bersih 1.999.500 the book value of fixed asset - net
 Ekshibit E/60 Exhibit E/60

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

21. PENDAPATAN 21. REVENUES

2013 2012
US$ US$

Kapal yang dimiliki Owned vessels

Pihak ketiga 44.606.408 65.706.400 Third parties
Pihak berelasi 2.070.833 3.125.690 Related parties
Sub-jumlah 46.677.241 68.832.090 Sub-total
Sub-contract Sub-contract
Pihak ketiga 501.614 700.263 Third parties
Pihak berelasi 222.849 257.600 Related parties
Sub-jumlah 724.463 957.863 Sub-total

Jumlah 47.401.704 69.789.953 Total

Berikut ini pendapatan usaha dari satu pelanggan Following is the revenue from customers that
yang melebihi 10% dari jumlah pendapatan. represents 10% of total revenues.

2013 2012
US$ US$
PT Pertamina (Persero) 25.110.014 26.167.639 PT Pertamina (Persero)
PT Pelayaran Mahameru Kencana Abadi 5.380.865 - PT Pelayaran Mahameru Kencana Abadi
Kangean Energy Indonesia Ltd. - 13.135.708 Kangean Energy Indonesia Ltd.

Jumlah 30.490.879 39.303.347 Total

22. BEBAN LANGSUNG 22. DIRECT COSTS

2013 2012
US$ US$
Penyusutan (Catatan 10) 10.584.390 11.231.900 Depreciation (Note 10)
Gaji 8.243.232 12.923.217 Salaries
Bahan bakar dan pelumas 7.494.090 9.755.893 Fuel and lubricants
Sewa 2.882.553 6.931.763 Charter
Asuransi 2.260.903 3.240.114 Insurance
Biaya pelabuhan 1.966.118 2.577.575 Port charges
Suku cadang 960.180 2.108.147 Spareparts
Transportasi 876.724 1.046.981 Transportation
Uang makan karyawan 552.463 1.136.497 Employees' meal allowances
Pengurusan dokumen 545.745 435.728 Processing of documents
Perlengkapan 419.672 556.361 Supplies
Perawatan dan pemeliharaan 337.427 1.701.383 Repairs and maintenance
Lain-lain 2.868.162 2.449.535 Others

Jumlah 39.991.659 56.095.094 Total

13,25% (2012: 15,35%) dari jumlah beban langsung 13.25 % (2012: 15.35%) of the total direct cost for
dilakukan dengan pihak berelasi (Catatan 27). were made with related parties (Note 27).

Tidak terdapat beban yang berasal dari pihak There were no expenses from a specific party
tertentu yang melebihi 10% dari beban langsung. that exceeded 10% of the total direct costs.
 Ekshibit E/61 Exhibit E/61

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

23. BEBAN ADMINISTRASI 23. ADMINISTRATIVE EXPENSES

2013 2012
US$ US$

Gaji 2.492.909 2.216.800 Salaries

Beban kantor 1.252.400 442.193 Office expenses
Tenaga ahli 724.274 1.988.060 Professional fees
Transportasi 314.788 203.743 Transportation
Pemasaran 276.557 288.068 Marketing
Telekomunikasi 197.221 60.789 Telecomunication
Penyusutan (Catatan 10) 45.602 36.714 Depreciation (Note 10)
Pendidikan dan pelatihan 7.170 6.952 Training and education
Imbalan pasca kerja (Catatan 16) (110.621) 311.189 Employee benefits (Note 16)
Lain-lain 336.485 448.352 Other

Jumlah 5.536.785 6.002.860 Total

24. BEBAN KEUANGAN 24. FINANCE COSTS

Akun ini merupakan beban bunga berikut biaya This account represents financing cost and
transaksi atas pinjaman jangka pendek dan jangka transaction costs on short-term and long-term
panjang. loans.

25. KERUGIAN LAIN-LAIN BERSIH 25. OTHER LOSSES - NET

2013 2012
US$ US$

Kerugian penurunan nilai Impairment loss on receivables

piutang kepada pihak berelasi (7.961.601) (1.871.445) from related parties
Pembayaran dan penyelesaian klaim - (3.945.286) Claims payment and settlement
Kerugian lain-lain - bersih (868.558) (769.865) Other loss - net

Jumlah (8.830.159) (6.586.596) Total

26. LABA (RUGI) PER SAHAM DASAR 26. BASIC EARNINGS (LOSS) PER SHARE
Berikut ini adalah data yang digunakan untuk The computation of basic earnings (loss) per share
perhitungan laba (rugi) per saham dasar: is based on the following data:

Laba (rugi) Profit (loss)

2013 2012
US$ US$

Laba (rugi) yang dapat diatribusikan Profit (loss) attributable

kepada pemilik Perusahaan (41.673.176) 3.886.960 to owner of the Company

Jumlah rata-rata tertimbang Total weighted average

saham untuk tujuan perhitungan number of ordinary
laba per saham dasar 17.650.000.000 17.650.000.000 shares

Rugi per saham (dalam nilai penuh) Loss per share (in full amount)
- Dasar (0,0024) 0,0002 - Basic
 Ekshibit E/62 Exhibit E/62

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

26. LABA (RUGI) PER SAHAM DASAR (Lanjutan) 26. BASIC EARNINGS (LOSS) PER SHARE (Continued)

Pada tahun 2013 dan 2012, harga pasar rata-rata In 2013 and 2012, the average market price of the
saham Perusahaan masing-masing dibawah harga Company’s shares, respectively, are lower than
eksekusi waran, sehingga Perusahaan tidak the exercise price of warrants, therefore the
menghitung dampak dilutif waran. Company does not calculate the dilutive effect of
warrants.

27. SIFAT DAN TRANSAKSI DENGAN PIHAK-PIHAK 27. NATURE OF RELATIONSHIP AND TRANSACTIONS
BERELASI WITH RELATED PARTIES

Sifat relasi Nature of relationship

a. BLT adalah salah satu pemegang saham utama a. BLT is one of the principal shareholders of
Perusahaan pada tahun 2013. Pada tahun 2012, the Company in 2013. In 2012, BLT is the
BLT adalah induk perusahaan. parent company.

b. Thai Petra Transport Co. Ltd. adalah entitas b. Thai Petra Transport Co. Ltd. is an associate
asosiasi dari BLT. company of BLT.
c. PT Arpeni Pratama Ocean Line Tbk dimiliki c. PT Arpeni Pratama Ocean Line Tbk is owned
oleh keluarga dekat Bapak Hadi Surya, by a close family member of Mr. Hadi Surya,
Komisaris BLT. one of BLT’s commissioner.

d. Perusahaan yang sebagian pengurus atau d. Related parties which have the same
manajemen dan/atau pemegang sahamnya management and/or shareholder as the
sama dengan Grup: Group:
Badraini Maritime Pte., Ltd.
Barunawati Maritime Pte., Ltd.
GBLT Shipmanagement Pte., Ltd.
Gold Bridge Shipping Ltd.
Gold Bridge Shipping Corp.
Indradi Maritime Pte., Ltd.
Pan Union Agencies Pte., Ltd.
Pan Union Shipping Pte., Ltd.
PT Brotojoyo Maritime
e. PT Garuda Mahakam Pratama merupakan e. PT Garuda Mahakam Pratama is a subsidiary
entitas anak PT Bagusnusa Samudra Gemilang of PT Bagusnusa Samudra Gemilang wherein
yang pemegang saham mayoritasnya adalah the majority shareholder is Mr. Hadi Surya,
Bapak Hadi Surya komisaris PT Berlian Laju the commisioner of PT Berlian Laju Tanker
Tanker Tbk. Tbk.
f. Personil manajemen kunci adalah Direksi dan f. Key management personnel are Directors and
Komisaris Grup. Commissioners of the Group.

Transaksi dengan pihak-pihak berelasi Transactions with related parties

Dalam kegiatan usahanya, Grup mengadakan In the normal course of business, the Group
transaksi tertentu dengan pihak berelasi. Transaksi- entered into certain transactions with related
transaksi tersebut meliputi antara lain: parties. These transactions include the following:

a. 4,84% dan 4,85% dari jumlah pendapatan a. 4.84% and 4.85% of total revenues for the
bersih masing-masing untuk tahun-tahun yang years ended 31 December 2013 and 2012,
berakhir 31 Desember 2013 dan 2012 dilakukan respectively, were made with related
dengan pihak berelasi. Manajemen parties. Management believes that these
berpendapat bahwa transaksi tersebut transactions were made at mutually agreed
dilakukan dengan kondisi dan persyaratan yang terms and conditions.
disepakati bersama.
 Ekshibit E/63 Exhibit E/63

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

27. SIFAT DAN TRANSAKSI DENGAN PIHAK-PIHAK 27. NATURE OF RELATIONSHIP AND TRANSACTIONS
BERELASI (Lanjutan) WITH RELATED PARTIES (Continued)
Transaksi dengan pihak-pihak berelasi (Lanjutan) Transactions with related parties (Continued)
Rincian pendapatan usaha dari pihak berelasi The details of revenues incurred to related
sebagai berikut: parties are as follows:

2013 2012
US$ US$
PT Berlian Laju Tanker Tbk 2.165.072 3.125.690 PT Berlian Laju Tanker Tbk
PT Garuda Mahakam Pratama 63.839 - PT Garuda Mahakam Pratama
GBLT Shipmanagement Pte., Ltd. - 123.000 GBLT Shipmanagement Pte., Ltd.
Lain-lain (masing-masing Others (below US$ 103,000
dibawah US$ 103.000) 64.771 134.600 each)
Jumlah 2.293.682 3.383.290 Total

b. 13,25% (2012: 15,35%) dari jumlah beban b. 13.25% (2012: 15.35%) of total direct costs
langsung atas kapal yang dimiliki dilakukan were made with related parties. These
melalui pihak berelasi. Transaksi dilakukan transactions were made at mutually agreed
dengan harga, kondisi dan persyaratan yang price, terms and conditions.
disepakati bersama.
Rincian beban yang dibayarkan kepada pihak The details of direct costs incurred to related
berelasi sebagai berikut: parties are as follows:

2013 2012
US$ US$
PT Berlian Laju Tanker Tbk 2.903.535 5.221.236 PT Berlian Laju Tanker Tbk
GBLT Shipmanagement Pte., Ltd. 1.527.874 1.666.997 GBLT Shipmanagement Pte., Ltd.
Gold Bridge Shipping Ltd. 429.270 - Gold Bridge Shipping Ltd.
Badraini Maritime Pte., Ltd. 112.726 - Badraini Maritime Pte., Ltd.
Pan Union Agencies Pte., Ltd. 104.598 300.204 Pan Union Agencies Pte., Ltd.
PT Brotojoyo Maritime - 1.108.800 PT Brotojoyo Maritime
Lain-lain (masing-masing Others (below US$ 103,000
dibawah US$ 103.000) 220.441 313.018 each)
Jumlah 5.298.444 8.610.255 Total

c. Saldo piutang dan utang kepada pihak berelasi c. The balance of receivables from and payables
adalah sebagai berikut: to related parties are as follows :

31/12/2013 31/12/2012
US$ US$

Piutang usaha (Catatan 6) 457.015 3.107.763 Trade receivables (Note 6)

Piutang kepada pihak berelasi (Catatan 9) 81.161.265 95.869.626 Receivables from related parties (Note 9)
Jumlah 81.618.280 98.977.389 Total

Persentase dari jumlah aset 31,86% 29,60% Percentage to total assets

Utang usaha (Catatan 12) 3.808.617 19.034.349 Trade payables (Note 12)

Persentase dari jumlah liabilitas 2,46% 10,04% Percentage to total liabilities

 Ekshibit E/64 Exhibit E/64

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

27. SIFAT DAN TRANSAKSI DENGAN PIHAK-PIHAK 27. NATURE OF RELATIONSHIP AND TRANSACTIONS
BERELASI (Lanjutan) WITH RELATED PARTIES (Continued)

Transaksi dengan pihak-pihak berelasi (Lanjutan) Transactions with related parties (Continued)

d. MT Kunti, kapal milik entitas anak, digunakan d. MT Kunti, the subsidiary’s vessel, is used as
sebagai salah satu jaminan atas utang bank BLT one of collaterals for loan of BLT from Bank
kepada Bank Mandiri. Mandiri.

e. Perusahaan menerima pengalihan pinjaman e. The Company accepted the transfer of several
beberapa utang bank milik BLT pada tahun BLT’s bank loans in 2012 (Note 15).
2012 (Catatan 15).

f. Pinjaman Perusahaan dan beberapa entitas f. Loans of the Company and certain subsidiaries
anak dijamin dengan corporate guarantee dari are secured with corporate guarantee from
BLT (Catatan 11 dan 15). BLT (Notes 11 and 15).

g. Perusahaan secara langsung atau tidak langsung g. The Company directly or indirectly acquired
membeli saham BLS, entitas anak dari pihak shares of BLS, subsidiary from related parties
berelasi pada tahun 2012 (Catatan 1d). in 2012 (Note 1d).

h. Grup memberikan kompensasi kepada Direksi, h. The Group provides compensations to

dan Komisaris berupa gaji dan tunjangan Directors and Commisioners such as salaries
sebesar Rp 4.289.293 ribu (2012: Rp 2.789.585 and allowances amounted to Rp 4,289,293
ribu). thousand (2012: 2,789,585 thousand).

i. Pada tahun 2012, Perusahaan memindahkan i. In 2012, the Company transferred its fixed
aset tetapnya sebesar nilai buku atau setara assets at carrying amount or equivalent to
US$ 210.365 kepada BLT (Catatan 10). US$ 210,365 to BLT (Note 10).

28. IKATAN DAN PERJANJIAN YANG SIGNIFIKAN 28. COMMITMENTS AND SIGNIFICANT AGREEMENTS

a. Pada Desember 2012, CM, entitas anak, a. In December 2012, CM, a subsidiary, entered
memperoleh kontrak sewa dengan into a lease contract with PT Pelayaran
PT Pelayaran Mahameru Kencana Abadi untuk Mahameru Kencana Abadi for boat rental
jasa penyewaan kapal dengan opsi services with an option to renew every 6
perpanjangan setiap 6 bulan. months.

b. Pada Mei 2013, SM, entitas anak memperoleh b. In May 2013, SM, a subsidiary, entered into a
kontrak sewa dengan Pertamina untuk jasa lease contract with Pertamina for boat rental
penyewaan kapal dengan opsi perpanjangan services with an option to renew every 6
setiap 6 bulan. months.

c. Pada Desember 2013, RM, entitas anak, c. In December 2013, RM, a subsidiary, entered
memperoleh kontrak sewa dengan Pertamina into a lease contract with Pertamina for boat
untuk jasa penyewaan kapal dengan opsi rental services with an option to renew every
perpanjangan setiap 6 bulan. 6 months.

d. Pada tanggal 7 Nopember 2013, BNI d. On 7 November 2013, BNI issued a bank
memberikan fasilitas garansi bank kepada guarantee to the Company amounting to
Perusahaan sebesar US$ 360.000 untuk jaminan US$ 360,000 for securing the contract with
atas kontrak kerja dengan Pertamina- Pertamina-Petrochina Salawati with a
Petrochina Salawati yang akan berakhir pada maturity period up to 6 February 2015.
6 Februari 2015.
 Ekshibit E/65 Exhibit E/65

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

28. IKATAN DAN PERJANJIAN YANG SIGNIFIKAN 28. COMMITMENTS AND SIGNIFICANT AGREEMENTS
(Lanjutan) (Continued)

e. Pada tanggal 16 Desember 2013, entitas anak e. On 16 December 2013, the subsidiary entered
mengadakan Perjanjian Pengikatan Jual Beli into a Sales and Purchase of Shares
Saham dengan pihak ketiga, dimana entitas Agreement with third party, whereby the
anak berjanji untuk menjual dan mengalihkan subsidiary promised to sell and transfer all
seluruh 20.000 saham miliknya pada Swank shares in Swank Ventures Limited of 20,000
Ventures Limited dengan nilai transaksi sebesar shares with the purchase price of
US$ 30.000.000. Penyesuaian nilai transaksi US$ 30,000,000. Purchase price adjustment is
diatur dalam perjanjian. Pengalihan saham dari set out in the agreement. The transfer of
entitas anak kepada pihak ketiga akan efektif shares from the subsidiary to the third party
setelah dipenuhinya seluruh persyaratan will be effective upon fulfillment of all
perjanjian. conditions of the agreement.
29. INFORMASI SEGMEN 29. SEGMENT INFORMATION
Segmen dilaporkan atas produk dan jasa yang Product and services from which reportable
menghasilkan pendapatan segments derive their revenues
Informasi yang dilaporkan kepada direksi untuk Information reported to directors for the purpose
tujuan alokasi sumber daya dan penilaian kinerja of resources allocation and assessment of segment
segmen difokuskan pada jenis produk atau jasa performance focuses on type of products or
yang diberikan atau disediakan. Segmen yang services delivered or provided. The Group’s
dilaporkan Grup merupakan kegiatan berdasarkan reportable segments are engaged based on type of
tipe kapal charter gas, minyak dan FPSO, kimia dan vessels chartered in gas, oil and FPSO, chemical
lainnya. and others.
Berikut ini adalah operasional menurut setiap The following summary describes the operations
segmen yang dapat dilaporkan: in each of the reportable segments:
a. Tanker gas menyediakan pengangkutan laut gas a. Gas tankers provide maritime transportation
cair, yang meliputi antara lain; LPG, of liquified gas, which include among others;
propylene, propane dan LNG. LPG, propylene, propane and LNG.
b. Tanker minyak dan FPSO menyediakan b. Oil and FPSO tankers provide maritime
pengangkutan laut minyak pelumas (bahan transportation of lubricating oil (base oil and
baku dan turunannya), minyak mentah dan additives), crude oil and petroleum products,
produksi minyak, tanker terapung untuk floating tanker facility for production,
produksi, penyimpanan, dan bongkar muat storage and off-loading of oil.
minyak bumi.
c. Tanker kimia menyediakan pengangkutan laut c. Chemical tankers provide maritime
kimia cair (organik dan non-organik) dan transportation of liquid chemical (organic and
minyak nabati dan minyak hayati. non-organic) and vegetable oil and animal
fats.
d. Lainnya merupakan penyediaan awak kapal dan d. Others comprise of providing crew and vessels
manajemen kapal. management.
Kebijakan akuntansi dari segmen dilaporkan adalah The accounting policies of the reportable
sama dengan kebijakan akuntansi Grup seperti segments are the same as the Group’s accounting
dijabarkan pada Catatan 2. Laba segmen policies described in Note 2. Segment profit
merupakan laba yang diperoleh setiap segmen represents the profit earned by each segment
tanpa memperhitungkan alokasi beban without allocation of administrative expenses,
administrasi, beban keuangan, kenaikan surplus finance cost, increase in revaluation of vessels,
revaluasi kapal, keuntungan kurs mata uang asing, gain on foreign exchange, loss on impairment of
kerugian penurunan nilai aset keuangan tersedia avalaible for sale financial assets, loss on sale of
untuk dijual, kerugian penjualan aset tetap, fixed assets, other gain and losses and tax
kerugian lain-lain serta beban pajak. Hal ini expense. This is the measure reported to the
merupakan pengukuran yang dilaporkan kepada Directors as the chief operating decision maker
Direksi sebagai pengambil keputusan operasional for the purposes of resource allocation and
untuk tujuan alokasi sumber daya dan penilaian assessment of segment performance.
kinerja segmen.
 Ekshibit E/66 Exhibit E/66

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

29. INFORMASI SEGMEN (Lanjutan) 29. SEGMENT INFORMATION (Continued)

Aset dan liabilitas segmen Segment assets and liabilities

31/12/2013 31/12/2012
US$ US$
Aset segmen Segment assets
Gas 58.139.834 62.552.262 Gas
Minyak dan FPSO 60.472.451 107.866.057 Oil and FPSO
Kimia 7.807.800 10.968.227 Chemical
Lainnya 594.588 243.311 Other

Jumlah 127.014.673 181.629.857 Total

Eliminasi - - Elimination
Aset tidak dapat dialokasikan 129.128.175 152.758.473 Unallocated assets

Konsolidasian 256.142.848 334.388.330 Consolidated

Liabilitas segmen Segment Liabilities

Gas 4.004.381 11.398.529 Gas
Minyak dan FPSO 4.032.415 7.017.255 Oil and FPSO
Kimia 1.274.321 867.017 Chemical
Lainnya 1.484.358 5.355.030 Others

Jumlah 10.795.475 24.637.831 Total

Eliminasi - - Elimination
Liabilitas yang tidak dapat
dialokasi 143.762.443 165.035.631 Unallocated liabilities

Konsolidasian 154.557.918 189.673.462 Consolidated

 Ekshibit E/67 Exhibit E/67

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

29. INFORMASI SEGMEN (Lanjutan) 29. SEGMENT INFORMATION (Continued)

Berikut ini merupakan analisa pendapatan dan hasil The following is an analysis of the Group’s
segmen Grup berdasarkan segmen dilaporkan: revenue and results by reportable segments:

Pendapatan segmen/ Laba segmen/

Segment revenues Segment profit
2013 2012 2013 2012
US$ US$ US$ US$

Gas 25.479.379 26.510.699 10.772.781 6.123.465 Gas

Minyak dan FPSO 16.694.062 37.143.023 (4.038.210) 7.964.571 Oil and FPSO
Kimia 4.503.800 5.289.547 (48.989) (1.239.861) Chemical
Lainnya 724.463 846.684 724.463 846.684 Others
Jumlah 47.401.704 69.789.953 7.410.045 13.694.859 Total
Eliminasi - - - - Elimination
Konsolidasian 47.401.704 69.789.953 7.410.045 13.694.859 Consolidated

Beban administrasi (5.536.785) (6.002.860) Administrative expense

Keuntungan kurs mata Gain on foreign exchange
uang asing - bersih 15.046.751 3.975.928 - net
Kenaikan surplus revaluasi Increase in revaluation
kapal 4.169.228 17.857.384 of vessels
Kerugian penurunan nilai Loss on impairment of
aset keuangan available-for-sale
tersedia untuk dijual (25.090.000) - financial assets
Kerugian penjualan Loss on sale of fixed
aset tetap (17.307.057) - assets
Beban keuangan (10.966.464) (18.152.173) Finance cost
Kerugian lain-lain - bersih (8.830.159) (6.586.596) Others losses - net
Laba (rugi) sebelum pajak (41.104.441) 4.786.542 Profit (loss) before tax

Pendapatan segmen yang dilaporkan diatas Segment revenue reported above represents
merupakan pendapatan yang dihasilkan dari revenue generated from external customers.
pelanggan luar.
Informasi segmen lainnya Other segment information

Penyusutan dan amortisasi/ Pengeluaran modal/

Depreciation and amortization Capital expenditures
2013 2012 2013 2012
US$ US$ US$ US$

Gas 3.921.448 4.141.979 - 1.538.933 Gas

Minyak dan FPSO 6.065.223 6.339.717 199.703 1.661.175 Oil and FPSO
Kimia 597.719 750.204 313.000 - Chemical
Lainnya 45.602 36.714 116.091 25.952 Others

Konsolidasian 10.629.992 11.268.614 628.794 3.226.060 Consolidated

Grup mempertimbangkan untuk tidak menyajikan The Group considered not presenting revenue from
pendapatan per pelanggan eksternal per lokasi external customers by location of operation and
operasi dan informasi terkait aset per lokasi aset information by location of operations and its assets
karena Grup hanya beroperasi di Indonesia. by location of assets, since the Group only operates
in Indonesia.
 Ekshibit E/68 Exhibit E/68

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN MANAGEMENT

a. Manajemen permodalan a. Capital management

Grup mengelola permodalan ditujukan untuk The Group manages its capital to ensure that
memastikan kemampuan Perusahaan it will be able to continue as going concern
melanjutkan usaha secara berkelanjutan dan while maximising the return to stakeholders
memaksimumkan imbal hasil kepada pemegang through the optimisation of the debt and
saham melalui optimalisasi saldo utang dan equity balance. In order to maintain or
ekuitas. Untuk memelihara atau mencapai achieve an optimal capital structure, the
struktur modal yang optimal, Grup dapat Group may adjust the amount of dividend
menyesuaikan jumlah pembayaran deviden, payment, return capital to shareholders,
pengurangan modal, penerbitan saham baru issue new shares or buy back issued shares,
atau membeli kembali saham beredar, obtain new borrowings or sell assets to
mendapatkan pinjaman baru atau menjual aset reduce borrowings.
untuk mengurangi pinjaman.

Struktur permodalan Grup terdiri dari utang The Group’s capital structure consists of
termasuk pinjaman jangka pendek, pinjaman debt, which includes short-term loans, long-
jangka panjang, kas dan setara kas dan ekuitas term loans, cash and cash equivalents and
yang dapat diatribusikan kepada pemilik equity attributable to the owners of the
Perusahaan dan kepentingan nonpengendali Company and non-controlling interest as
sebagaimana diungkapkan dalam laporan described in the consolidated financial
keuangan konsolidasian. statements.

Dewan Direksi Perusahaan secara berkala The Board of Directors of the Company
melakukan reviu struktur permodalan periodically reviewed the Company's capital
Perusahaan. Sebagai bagian dari reviu ini, structure. As part of this review, the Board
Dewan Direksi mempertimbangkan biaya of Directors considered the cost of capital
permodalan dan risiko yang berhubungan. and related risk.

Gearing ratio pada tanggal pelaporan adalah The gearing ratio as of the reporting date are
sebagai berikut: as follows:

31/12/2013 31/12/2012
US$ US$
Pinjaman 129.588.576 143.869.464 Debt
Kas dan setara kas 7.086.849 2.713.081 Cash and cash equivalents

Pinjaman - bersih 122.501.727 141.156.383 Net debt

Ekuitas 101.584.930 144.714.868 Equity

Rasio pinjaman - bersih

terhadap ekuitas 120,59% 97,54% Net debt to equity ratio

Rasio pinjaman – bersih terhadap ekuitas The ratio of net debt to equity increased by
meningkat sebesar 23,05% terkait kerugian 23.05% in relation to the significant loss
yang signifikan yang dialami Grup pada tahun experienced by the Group in 2013. In
2013. Sehubungan dengan itu Grup menyusun connection with this condition, the Group set
rencana manajemen untuk menghadapi situasi up management plans to deal with the
tersebut sebagaimana diungkapkan dalam situation as disclosed in Note 32.
Catatan 32.
 Ekshibit E/69 Exhibit E/69

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

b. Ikhtisar kebijakan akuntansi yang signifikan b. Summary of significant accounting policies

Rincian ikhtisar kebijakan akuntansi yang Details of the summary of significant

signifikan dan metode yang diterapkan accounting policies and methods adopted
(termasuk kriteria pengakuan, dasar (including the criteria for recognition, the
pengukuran, dan dasar pengakuan pendapatan bases of measurement, and the bases for
dan beban) untuk setiap klasifikasi aset recognition of income and expenses) for each
keuangan, liabilitas keuangan dan instrumen class of financial asset, financial liability and
ekuitas diungkapkan dalam Catatan 2. equity instrument are disclosed in Note 2.

c. Kelompok instrumen keuangan c. Categories of financial instruments

31/12/2013 31/12/2012
US$ US$

Aset keuangan Financial assets

Aset keuangan tersedia dijual 28.910.281 54.305.000 Available-for-sale financial asset

Pinjaman yang diberikan

dan piutang Loans and receivables
Kas dan setara kas 7.086.849 2.713.081 Cash and cash equivalent
Kas yang dibatasi penggunaannya Restricted cash
dan deposito berjangka 10.907.017 - and time deposit
Piutang usaha 5.035.036 17.602.851 Trade receivables
Piutang lain-lain 568.379 653.993 Other receivables
Piutang kepada pihak berelasi 81.161.265 95.869.626 Receivables from related parties

Jumlah 104.758.546 116.839.551 Total

Liabilitas keuangan diukur Financial liabilities

pada biaya perolehan diamortisasi at amortised cost
Pinjaman jangka pendek - 35.747.100 Short-term loan
Utang usaha 13.305.712 35.691.849 Trade payables
Utang lain-lain 353.791 736.155 Other payables
Beban akrual 8.699.165 6.034.186 Accrued expenses
Pinjaman jangka panjang 129.588.576 108.122.364 Long term loans

Jumlah 151.947.244 186.331.654 Total

Jumlah tercatat atas aset keuangan yang The carrying amount of financial assets
tercermin di atas merupakan eksposur reflected above represent the Group’s
maksimum risiko kredit Grup. maximum exposure to credit risk.
 Ekshibit E/70 Exhibit E/70

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT(Continued)

d. Tujuan manajemen risiko keuangan d. Financial risk management objectives

Kebijakan manajemen risiko keuangan Grup The Group’s financial risk management
bertujuan untuk memastikan bahwa terdapat policies seek to ensure that adequate
sumber daya keuangan yang memadai untuk financial resources are available for the
pengembangan usaha Grup serta dapat operation and development of their business
mengelola risiko nilai tukar mata uang asing, while managing their exposure to non-
risiko suku bunga, risiko likuiditas, risiko kredit functional exchange risk, interest rate risk,
dan risiko harga bahan bakar. Kebijakan liquidity risk, credit risk and price of bunker
manajemen risiko keuangan yang dijalankan fuel risk. The Group’s financial risk
oleh Grup adalah sebagai berikut: management policies are as follows:

Manajemen risiko nilai tukar mata uang asing Foreign currency exchange risk management

Risiko nilai tukar mata uang asing Grup timbul The foreign currency exchange risks of the
terutama dari volatilitas nilai tukar mata uang Group mainly result from the volatility in
non-fungsional. Pendapatan, beban, piutang non-functional exchange rates. Revenues,
dan utang usaha serta pinjaman Grup sebagian expenses, trade receivables and payables and
besar diselenggarakan dalam mata uang Dolar loans of the Group is mostly in US Dollar
AS. Kebijakan Grup adalah penyeimbangan arus currency. The policy of the Group is balancing
kas dari aktivitas operasi dan pendanaan dalam its cash flows from operating and financing
mata uang yang sama. Namun, Grup belum activities in the same currency. However, the
melakukan lindung nilai yang efektif untuk Group has not yet entered into effective
mata uang non-fungsional atas pinjaman hedges for its long-term loans with non-
jangka panjangnya. Aset dan liabilitas moneter functional currency. The monetary assets and
Grup pada tanggal 31 Desember 2013 dan 2012 liabilities of the Group as of 31 December
adalah sebagai berikut: 2013 and 2012 are as follows:

31/12/2013 31/12/2012
Mata Uang Ekuivalen Mata Uang Ekuivalen
Asing/ Dolar AS/ Asing/ Dolar AS/
Foreign Equivalent Foreign Equivalent
currency to US Dollar currency to US Dollar
US$ US$

Aset/Asset
Kas dan setara kas/Cash and Rp'000 8.810.575 722.830 18.400.260 1.902.819
cash equivalent SGD 980 774 11.808 9.655
Lain-lain/
Others - 212.066 - 11.565
Aset keuangan lainnya/
Other current financial assets Rp'000 918.307 75.339 - -
Piutang usaha/Trade Rp'000 4.270.099 350.324 14.202.387 1.468.706
receivables SGD 46.056 36.379 340.652 278.551
Lain-lain/
Others - 3.700 - 4.034
Piutang lain-lain/
Other accounts receivables SGD - - 41.666 34.070
Piutang kepada pihak berelasi/
Receivables from related parties Rp'000 22.299.995 1.829.518 - -

Jumlah/Total 3.230.930 3.709.400

 Ekshibit E/71 Exhibit E/71

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

d. Tujuan manajemen risiko keuangan d. Financial risk management objectives

(Lanjutan) (Continued)

31/12/2013 31/12/2012
Mata Uang Ekuivalen Mata Uang Ekuivalen
Asing/ Dolar AS/ Asing/ Dolar AS/
Foreign Equivalent Foreign Equivalent
currency to US Dollar currency to US Dollar
US$ US$

Liabilitas/Liabilities
Utang usaha/Trade payables Rp'000 18.231.087 1.495.700 32.411.055 3.351.712
SGD 3.332.380 2.632.218 7.753.827 6.340.304
YEN 126.087.835 1.201.696 77.592.289 895.661
Lain-lain/
Others - 321.991 - 150.529
Beban akrual/Accrued expenses Rp'000 1.055.677 86.609 2.630.675 272.045
SGD - - 136.244 111.407
Lain-lain/
Others - - - 3.884
Pinjaman jangka panjang/
Long-term loan Rp'000 506.670.523 41.567.850 706.513.737 73.062.434

Jumlah/Total 47.306.064 84.187.976

Jumlah Liabilitas - bersih/
Total Liabilities - net 44.075.134 80.478.576

Tabel berikut memperlihatkan sensitivitas The following table details the Group’s
Grup atas perubahan dalam US$ terhadap mata sensitivity to changes in US$ against the above
uang di atas. Tingkat sensitivitas di bawah ini currencies. The sensitivity rate below are used
digunakan ketika melaporkan risiko mata uang when reporting foreign currency risk internally
asing kepada anggota manajemen kunci secara to key management personnel and represents
internal dan mewakili penilaian manajemen management’s assessment of the reasonably
terhadap kemungkinan perubahan nilai possible change in foreign exchange rates. The
pertukaran mata uang asing. Analisa sensitivity analysis includes only outstanding
sensitivitas hanya dilakukan pada pos moneter foreign currency denominated monetary items
yang didenominasi dalam mata uang asing dan and adjusts their translation at period end for
menyesuaikan translasinya pada akhir periode the change in foreign currency exchange rates.
atas perubahan nilai pertukaran mata uang A positive number below indicates an increase
asing. Angka positif di bawah ini in profit and equity where the above
mengindikasikan peningkatan dalam laba dan currencies strengthen at certain percentage
ekuitas dimana mata uang asing di atas against the US$. For the same percentage of
menguat pada persentase tertentu terhadap weakening of the above currencies against the
US$. Untuk persentase yang sama atas US$, there would be an equal and opposite
melemahnya mata uang asing di atas terhadap impact on profit and equity.
US$, akan berdampak yang setara dan
berlawanan terhadap laba dan ekuitas.
 Ekshibit E/72 Exhibit E/72

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

c. Tujuan manajemen risiko keuangan c. Financial risk management objectives

(Lanjutan) (Continued)

31/12/2013 31/12/2012
Tingkat Pengaruh Tingkat Pengaruh
sensitivitas/ pada laba rugi/ sensitivitas/ pada laba rugi/
Sensitivity Effect on Sensitivity Effect on
rate profit or loss rate profit or loss
% US$ % US$

Rupiah 7% (2.812.050) 7% (5.132.027) Rupiah

Dolar Singapura 5% (129.753) 5% (320.399) Singapore Dollar
Yen 9% (108.153) 9% (80.609) Yen

Manajemen risiko suku bunga Interest rate risk management

Risiko suku bunga adalah risiko dimana arus kas Interest rate risk is the risk that the fair
atau nilai wajar di masa datang atas instrumen value or future cash flows of the Group’s
keuangan Grup akan berfluktuasi akibat financial instrument will fluctuate because of
perubahan suku bunga pasar. changes in market interest rates.

Aset dan liabilitas keuangan yang berpotensi The financial assets and liabilities that
terpengaruh risiko suku bunga terutama terdiri potentially subject the Group to interest rate
dari kas dan setara kas, pinjaman jangka risk consist mainly of cash and cash
pendek dan pinjaman jangka panjang. Grup equivalents, short-term loan and long-term
memonitor perubahan suku bunga pasar untuk loans. Changes in market interest rates are
memastikan suku bunga Grup sesuai dengan closely monitored to ensure that the Group’s
pasar. Grup belum melakukan lindung nilai interest rates are in line with the market.
yang efektif untuk pinjaman yang suku The Group has not yet entered into effective
bunganya mengambang. hedges for borrowings with variable interest
rates.

Analisis sensitivitas dibawah ini, ditentukan The sensitivity analyses below have been
berdasarkan eksposur suku bunga terhadap determined based on the exposure to interest
liabilitas keuangan yang menggunakan suku rate for the floating rate of financial
bunga mengambang. Analisa ini disajikan liabilities. The analysis is prepared assuming
dengan asumsi saldo liabilitas keuangan pada the amount of the liability outstanding at the
akhir periode pelaporan masih beredar end of the reporting period was outstanding
sepanjang tahun. for the whole year.

Jika suku bunga mengalami perubahan 50 basis If interest rate had been 50 basis points
point lebih tinggi/rendah dan variabel lain higher/lower and the other variable held
konstan, rugi sebelum pajak Grup akan constant, Group’s loss before tax would
meningkat/menurun sebesar US$ 460.760 increase/decrease by US$ 460,760 (2012:
(2012: US$ 543.671). US$ 543,671).
 Ekshibit E/73 Exhibit E/73

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

c. Tujuan manajemen risiko keuangan c. Financial risk management objectives

(Lanjutan) (Continued)

Manajemen risiko likuiditas Liquidity risk management

Tanggung jawab utama manajemen risiko Ultimate responsibility for liquidity risk
likuiditas terletak pada dewan direksi, yang management rests with the board of
telah membangun kerangka manajemen risiko directors, which has built an appropriate
likuiditas yang sesuai untuk persyaratan liquidity risk management framework for the
manajemen likuiditas dan pendanaan jangka management of the Group’s short, medium
pendek, menengah dan jangka panjang Grup. and long-term funding and liquidity
Grup mengelola risiko likuiditas dengan management requirements. The Group
menjaga kecukupan simpanan, fasilitas bank manages liquidity risk by maintaining
dan fasilitas pinjaman dengan terus menerus adequate reserves, banking facilities and
memonitor perkiraan dan arus kas aktual dan reserve borrowing facilities by continuously
mencocokkan profil jatuh tempo aset dan monitoring forecast and actual cash flows and
liabilitas keuangan. matching the maturity profiles of financial
assets and liabilities.

Tabel berikut merupakan analisis liabilitas The following table analyses the Group’s
keuangan Grup berdasarkan jatuh tempo dari financial liabilities based on maturity
tanggal pelaporan sampai dengan tanggal jatuh groupings from the reporting date to the
tempo. Jumlah yang diungkapkan dalam tabel contractual maturity date. The amounts
merupakan jumlah tercatat, kecuali pinjaman disclosed in table are their carrying balances,
jangka panjang dan utang kepada pihak except for long-term loans and payables to
berelasi, karena seluruh liabilitas keuangan related parties, as all financial liabilities due
jatuh tempo dalam 12 bulan, sehingga within 12 months, therefore the impact of
pengaruh pendiskontoan arus kas tidak discounting cash flows is not significant. The
signifikan. Grup menggunakan suku bunga dan Group used the weighted average interest
indicative return rata-rata tertimbang 10,81% rate and indicative return at 10.81% per
per tahun (2012: 10,50%) untuk pinjaman annum (2012: 10.50%) for long-term loans.
jangka panjang.

31/12/2013
Tiga bulan
sampai
Kurang dari dengan Satu sampai Lebih dari
tiga bulan/ satu tahun/ dengan lima tahun/
Less than Three lima tahun/ Greater
three months One to than Jumlah/
months to one year five years five years Total
US$ US$ US$ US$ US$

Utang usaha 13.305.712 - - - 13.305.712 Trade payables

Utang lain-lain 353.791 - - - 353.791 Other payables
Beban akrual 8.699.165 - - - 8.699.165 Accrued expenses
Pinjaman jangka panjang 3.359.929 10.896.853 119.450.676 24.524.346 158.231.804 Long-term loans

Jumlah 25.718.597 10.896.853 119.450.676 24.524.346 180.590.472 Total

 Ekshibit E/74 Exhibit E/74

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)
c. Tujuan manajemen risiko keuangan c. Financial risk management objectives
(Lanjutan) (Continued)
31/12/2012
Tiga bulan
sampai
Kurang dari dengan Satu sampai Lebih dari
tiga bulan/ satu tahun/ dengan lima tahun/
Less than Three lima tahun/ Greater
three months One to than Jumlah/
months to one year five years five years Total
US$ US$ US$ US$ US$

Pinjaman jangka pendek 35.747.100 - - - 35.747.100 Short-term loans

Utang usaha 35.691.849 - - - 35.691.849 Trade payables
Utang lain-lain 736.155 - - - 736.155 Other payables
Beban akrual 6.034.186 - - - 6.034.186 Accrued expenses
Pinjaman jangka panjang 3.707.518 11.885.454 108.816.758 12.664.294 137.074.024 Long-term loans

Jumlah 81.916.808 11.885.454 108.816.758 12.664.294 215.283.314 Total

Manajemen risiko kredit Credit risk management

Risiko kredit Grup terutama melekat pada The Group’s credit risk is primarily
rekening bank, deposito berjangka dan attributable to its cash in banks, time
piutang. Grup menempatkan rekening bank deposits and receivables. The Group place
dan deposito berjangka pada institusi keuangan their bank balances and time deposits with
yang layak serta terpercaya. credit worthy financial institutions.

Grup bertujuan memperoleh pertumbuhan The Group are aiming to obtain revenue
pendapatan dengan risiko yang minimal karena growth with minimal credit risk exposure.
eksposur risiko kredit. Grup memiliki kebijakan The Group have policies to deal with
untuk bertransaksi dengan pelanggan yang customers who have good reputation and
memiliki reputasi baik dan sejarah kredit yang good credit history and perform timely
baik dan melakukan pengawasan kolektibilitas monitory of receivables’ collection.
piutang sehingga diterima penagihannya secara
tepat waktu.

Piutang usaha Grup dilakukan dengan Accounts receivables of the Group were
perusahaan-perusahaan yang memiliki reputasi conducted with companies that have good
baik dan telah bertransaksi dengan Grup dalam reputation and have been dealing with the
jangka waktu yang lama. Group in the long-term.

Nilai tercatat aset keuangan pada laporan The carrying value of financial assets in the
keuangan konsolidasian setelah dikurangi consolidated financial statements net of
dengan penyisihan untuk kerugian allowance for losses reflects the Group’s
mencerminkan eksposur Grup terhadap risiko exposure to credit risk.
kredit.
 Ekshibit E/75 Exhibit E/75

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

c. Tujuan manajemen risiko keuangan c. Financial risk management objectives

(Lanjutan) (Continued)

Manajemen risiko bahan bakar Price of bunker fuel risk management

Penghasilan Grup dipengaruhi oleh perubahan The Group’s earnings are affected by changes
harga bahan bakar. Strategi untuk mengelola in the price of bunker fuel. The strategy for
risiko harga bahan bakar, bertujuan untuk managing the risk on fuel price, aims to
perlindungan terhadap adanya peningkatan provide its protection against sudden and
secara tiba-tiba dan signifikan terhadap harga significant increase in bunker fuel prices. In
bahan bakar. Untuk memenuhi tujuan ini, meeting these objectives, the fuel
program manajemen bahan bakar mengijinkan management program allows for the prudent
penggunaan secara berhati-hati instrumen yang use of approved instruments such as bunker
telah disetujui seperti bunker swaps dengan swaps with approved counterparties and
rekanan dan dalam kredit limit yang disetujui. within approved credit limits. At the end of
Pada akhir periode pelaporan, Grup belum reporting period, the Group did not used
memiliki instrumen bunker swaps. bunker swaps instrument.

c. Nilai wajar instrumen keuangan c. Fair value of financial instruments

Nilai wajar instrument keuangan yang dicatat Fair value of financial instruments carried at
sebesar biaya perolehan diamortisasi amortised cost

Manajemen berpendapat bahwa nilai tercatat Management considers that the carrying
aset dan liabilitas keuangan yang dicatat amounts of financial assets and financial
sebesar biaya perolehan diamortisasi dalam liabilities recorded at amortized cost in the
laporan keuangan konsolidasian mendekati consolidated financial statements are the
nilai wajarnya. same with their fair values.

Teknik-teknik penilaian dan asumsi-asumsi Valuation techniques and assumptions

yang digunakan untuk tujuan pengukuran nilai applied for the purposes of measuring fair
wajar value

Nilai wajar aset keuangan dan liabilitas The fair values of financial assets and
keuangan keuangan ditentukan dengan financial liabilities are determined using
menggunakan teknik penilaian dan asumsi valuation techniques and assumptions as
sebagai berikut: follows:

 Nilai wajar aset keuangan dan liabilitas  The fair values of the financial assets
keuangan yang dicatat sebesar biaya and financial liabilities recorded at
perolehan diamortisasi dalam laporan amortized cost in the consolidated
keuangan konsolidasian mendekati nilai financial statements approximate their
tercatatnya karena jatuh temponya dalam fair values because of their short-term
jangka pendek atau menggunakan suku maturities or they carry prevailing
bunga pasar yang berlaku. market interest rates.

 Aset keuangan FVTOCI dan dinyatakan  FVTOCI financial assets are stated at fair
sebesar nilai wajar yang diukur dengan value measured using asset based
menggunakan pendekatan aset dengan approach with adjusted book value
metode penyesuaian nilai buku dan method and income based on approach
pendekatan pendapatan dengan metode with discounted cash flows.
arus kas diskonto.
 Ekshibit E/76 Exhibit E/76

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

d. Nilai wajar instrumen keuangan (Lanjutan) d. Fair value of financial instruments

(Continued)

Laporan keuangan konsolidasian termasuk aset The consolidated financial statements

keuangan FVTOCI atas saham Swank Ventures include the Group’s investment in Swank
Ltd (SVL) (Catatan 5). Ventures Ltd (SVL) (Note 5).

Secara spesifik, asumsi-asumsi signifikan dalam Specifically, significant assumptions used in

menentukan aset keuangan FVTOCI adalah determining the fair value of FVTOCI are as
sebagai berikut: follows:

 Nilai wajar aset keuangan FVTOCI tanggal  Fair values of FVTOCI as of 31 December
31 Desember 2013 dan 2012 diestimasi 2013 and 2012 are estimated using a
menggunakan Blackscholes Model. Analisa Blackscholes Model. The sensitivity
sensitifitas yang dipergunakan adalah call analysis used call option or stock price
opsi atau harga saham yang mendasari which underlying the increasing of the
waran naik sebesar 5%. Jika input dalam warrant 5%. If these inputs to the
model penilaian 5% lebih tinggi/rendah valuation model were 5% higher/lower
sementara variabel lainnya konstan, jumlah while all the other variables were held
tercatat investasi akan menurun/meningkat constant, the carrying amount of the
sebesar US$ 1.445 ribu pada tanggal investment would decrease/increase by
31 Desember 2013 (2012: US$ 2.714 ribu). US$ 1,445 thousand as at 31 December
2013 (2012: US$ 2,714 thousand).

Tabel berikut ini merupakan analisis instrumen The following table provides an analysis of
keuangan yang diukur setelah pengakuan awal financial instruments that are measured
pada nilai wajar, yang dikelompokkan dalam subsequent to initial recognition at fair
Tingkat 1 sampai dengan 3 berdasarkan hirarki value, grouped into Levels 1 to 3 based on
nilai wajar yang dapat diobservasi: the degree to which the fair value is
observable:

 Pengukuran nilai wajar Tingkat 1 yang  Level 1 fair value measurements are those
diperoleh dari harga kuotasian (tidak derive from quoted prices (unadjusted) in
disesuaikan) dalam pasar aktif untuk aset active markets for identical assets or
dan liabilitas yang identik; liabilities;

 Pengukuran nilai wajar Tingkat 2 yang  Level 2 fair value measurements are those
diperoleh dari input selain dari harga derived from inputs other than quoted
kuotasian yang termasuk dalam Tingkat 1 prices included within Level 1 that are
yang dapat diobservasi untuk aset dan observable for the asset or liability,
liabilitas, baik secara langsung (misalnya either directly (i.e. as prices) or indirectly
harga) atau secara tidak langsung (misalnya (i.e. derived from prices); and
derivasi harga); dan

 Pengukuran nilai wajar Tingkat 3 yang  Level 3 fair value measurements are those
diperoleh dari teknik penilaian yang derived from valuation techniques that
memasukkan input untuk aset dan liabilitas include inputs for the asset or liability
yang bukan berdasarkan data pasar yang that are not based on observable market
dapat diobservasi (input yang tidak dapat data (unobservable inputs).
diobservasi).
 Ekshibit E/77 Exhibit E/77

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

d. Nilai wajar instrumen keuangan (Lanjutan) d. Fair value of financial instruments

(Continued)
31/12/2013
Tingkat 1/ Tingkat 2/ Tingkat 3/ Jumlah/
Level 1 Level 2 Level 3 Total
US$ US$ US$ US$

Aset keuangan tersedia Financial assets at available-

untuk dijual atas for-sale on unquoted
investasi saham yang investments
tidak dikuotasikan - - 28.910.281 28.910.281 in shares

31/12/2012
Tingkat 1/ Tingkat 2/ Tingkat 3/ Jumlah/
Level 1 Level 2 Level 3 Total
US$ US$ US$ US$

Aset keuangan tersedia Financial assets at available-

untuk dijual atas for-sale on unquoted
investasi saham yang investments
tidak dikuotasikan - - 54.305.000 54.305.000 in shares

Tidak terdapat transfer antara Tingkat 1, 2 There were no transfers between Level 1, 2,
dan 3. and 3

Rekonsiliasi pengukuran nilai wajar aset Reconciliation of Level 3 fair value

keuangan dalam Tingkat 3: measurements of financial assets:

Instrumen keuangan Grup yang pengukuran The Group’s financial instrument which is the
nilai wajar dalam Tingkat 3 pada hirarki nilai hierarchy of fair value in level 3 fair value
wajar adalah aset keuangan tersedia untuk measurement is avalaible for sale financial
dijual. Rekonsiliasi saldo awal ke saldo akhir assets. Reconciliation of the beginning balance
aset keuangan tersebut adalah sebagai berikut: to ending balance of financial assets is as
follows:

2013 2012
US$ US$

Awal tahun 305.000 - At the beginning of the year

Keuntungan (kerugian) yang diakui Gain (loss) recognized in
dalam pendapatan komprehensif other comprehensive income
lain pada tahun berjalan (305.000) 305.000 in the current year

Akhir tahun - 305.000 At the end of the year

Keuntungan perubahan nilai wajar dimasukkan Gain on changes in fair value are included in
dalam pendapatan komprehensif lain terkait other comprehensive income related to
dengan aset keuangan tersedia dijual available-for-sale financial assets and are
dilaporkan sebagai perubahan cadangan reported as changes of investment revaluation
revaluasi investasi sebesar US$ 305.000 pada reserve amounted to US$ 305,000 as at
tanggal 31 Desember 2012. 31 December 2012.
 Ekshibit E/78 Exhibit E/78

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

30. INSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO 30. FINANCIAL INSTRUMENTS AND FINANCIAL RISK
KEUANGAN (Lanjutan) MANAGEMENT (Continued)

d. Nilai wajar instrumen keuangan (Lanjutan) d. Fair value of financial instruments

(Continued)

Pada tahun 2013, Grup membalik keuntungan In 2013, the Group reversed the gain on
perubahan nilai wajar terkait pada pengakuan changes in fair value due to the recognition
kerugian penurunan nilai aset keuangan of loss on impairment of available-for-sale
tersedia dijual. financial assets.

31. CATATAN PENDUKUNG LAPORAN ARUS KAS 31. NOTES SUPPORTING CONSOLIDATED
KONSOLIDASIAN STATEMENTS OF CASH CASHFLOW

Kas dan setara kas Cash and cash equivalents

Untuk tujuan laporan arus kas konsolidasian, kas For the purposes of the consolidated statement
dan setara kas termasuk kas dan bank, setelah of cash flows, cash and cash equivalents include
dikurangi cerukan. Kas dan setara kas pada akhir cash on hand and in banks, net of outstanding
periode pelaporan seperti diungkapkan dalam bank overdrafts. Cash and cash equivalents at the
laporan arus kas konsolidasian dapat end of the reporting period as shown in the
direkonsiliasikan dengan pos-pos terkait dalam consolidated statement of cash flows can be
laporan posisi keuangan konsolidasian sebagai reconciled to items in the consolidated statement
berikut: of financial position as follows:

31/12/2013 31/12/2012
US$ US$

Kas 119.549 226.555 Cash on hand

Bank 6.967.300 2.434.642 Cash in banks
Setara kas - deposito berjangka - 51.884 Cash equivalent - time deposits
Jumlah 7.086.849 2.713.081 Total

Transaksi non-kas Non-cash transactions

Grup melakukan transaksi investasi dan pendanaan The Group entered into non-cash investing and
yang tidak mempengaruhi kas dan tidak termasuk financing activities which are not reflected in the
dalam laporan arus kas konsolidasian dengan consolidated statements of cash flows with
rincian sebagai berikut: details as follows:

2013 2012
US$ US$

Kenaikan nilai kapal Increase in value of vessels

melalui revaluasi 3.017.239 5.880.897 through revaluation
Penambahan aset tetap melalui Additional fixed assets through deduction
pengurangan piutang pihak berelasi 114.314 - of receivables from related party
Perubahan nilai wajar aset keuangan Changes in fair value of available-for-
tersedia untuk dijual (25.090.000) 305.000 sale financial assets
Penambahan pinjaman jangka panjang Increase in long-term loans
melalui piutang kepada pihak berelasi 1.960.000 81.124.349 through receivables from related party
Saling hapus antara utang usaha Offset between trade payables to
dengan piutang kepada pihak berelasi (12.850.718) - and receivables from related party
Akuisisi entitas anak melalui Acquisition of subsidiary through
piutang kepada pihak berelasi - 102.741 receivables from related party
 Ekshibit E/79 Exhibit E/79

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

32. PENGARUH KONDISI INDUSTRI PELAYARAN 32. THE EFFECT OF SHIPPING INDUSTRY
TERHADAP GRUP CONDITIONS TO THE GROUP

Kelebihan pasokan kapal mengancam pemulihan The oversupply of vessels threatens freight
tarif tambang pelayaran karena pemesanan kapal recovery as orders for newly built tankers prior to
tanker yang dibangun sebelum krisis keuangan the 2008 global financial meltdown were
global tahun 2008 yang diserahterimakan mulai delivered from 2010 and still continue the effect
tahun 2010 dan masih berlanjut pengaruhnya to shipping industry. The spate of deliveries and
terhadap industri pelayaran. Serentetan slow demand for prompt shipments are adding to
penyerahan dan permintaan yang melambat akan the already well-supplied tonnage and will
meningkatkan tonase yang sudah tersedia dan akan remain a barrier for the recovery of freight rates.
tetap menjadi penghalang pemulihan tarif The operations of the Group have been affected,
tambang. Kegiatan usaha Grup telah dan dapat and may continue to be affected, by global
terus dipengaruhi oleh kondisi ekonomi secara economic conditions that contribute to volatility
global, yang mengakibatkan fluktuasi tarif in freight rate and bunker costs.
angkutan kapal serta beban bahan bakar.

Kondisi-kondisi tersebut telah berdampak sangat These conditions had an adverse effect on the
merugikan kegiatan operasional Grup, yang Group’s operations, resulting to the Group
menyebabkan Grup mengalami rugi sebesar incurred a loss amounting to US$ 41,673,214 for
US$ 41.673.214 untuk tahun yang berakhir the year ended 31 December 2013 and deficit
31 Desember 2013 dan defisit sebesar amounting to US$ 136,510,448 as of 31 December
US$ 136.510.448 pada tanggal 31 Desember 2013. 2013. Such loss for the year is mainly contributed
Rugi tahun berjalan tersebut terutama disebabkan by significant decrease in revenue, recognition of
penurunan pendapatan yang signifikan, pengakuan loss on impairment of available-for-sale financial
kerugian penurunan nilai aset keuangan tersedia assets relating to the evaluation of fair value of
dijual terkait evaluasi nilai wajar aset keuangan financial assets due to decrease of coal
terkait dengan penurunan harga komoditas commodity prices and loss on sale of vessels
batubara dan pengakuan kerugian penjualan kapal relating to the restructuring of its fleets. The
yang merupakan bagian dari restrukturisasi Group has successfully restructured its loans to
armada. Grup telah berhasil merestrukturisasi Bank Negara Indonesia and Lembaga Pembiayaan
pinjaman kepada Bank Negara Indonesia dan Ekspor Indonesia (Indonesia Eximbank) with
Lembaga Pembiayaan Ekspor Indonesia (Indonesia changes in installment schedule and extension of
Eximbank) serta perubahan jadual angsuran dan maturity to Bank Syariah Mandiri (as lead
perpanjangan jatuh tempo utang kepada Bank manager), BPD Jatim Divisi Usaha Syariah, Bank
Syariah Mandiri (sebagai penanggung jawab Muamalat Indonesia, and Bank Jabar Banten
utama), BPD Jatim Divisi Usaha Syariah, Bank Syariah as described in Note 15 and its short-term
Muamalat Indonesia, dan Bank Jabar Banten loan to MLOR as described in Note 11 which will
Syariah seperti diungkapkan pada Catatan 15 dan be settled with the Company’s shares pledged by
pinjaman jangka pendek kepada MLOR seperti BLT as the guarantor of the loan and portion of
dijelaskan dalam Catatan 11 yang akan diselesaikan the loan will be converted to shares of the
dengan saham Perusahaan yang dijaminkan oleh Company. The Group also has receivables in
BLT sebagai penjamin pinjaman dan sebagian akan significant amounts from BLT, the shareholder
dikonversi menjadi saham Perusahaan. Grup juga who is experiencing financial difficulties.
memiliki piutang dalam jumlah yang signifikan
pada BLT, pemegang saham yang mengalami
kesulitan keuangan.

Kesinambungan kelangsungan usaha Grup The Group's continuation as a going concern is

tergantung pada kemampuan untuk menghasilkan dependent upon its ability to generate sufficient
arus kas yang cukup untuk membayar liabilitas cash flow to meet its obligations on a timely
secara tepat waktu dan mematuhi persyaratan dan basis, to comply with the terms and conditions of
ketentuan perjanjian kredit, dan pada akhirnya credit agreements, and ultimately to attain
mencapai keberhasilan operasi serta memperbaiki successful operations and improve the
kinerja keuangan dan posisi defisit Grup. performance and the position of the Group’s
deficit.
 Ekshibit E/80 Exhibit E/80

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

32. PENGARUH KONDISI INDUSTRI PELAYARAN 32. THE EFFECT OF SHIPPING INDUSTRY
TERHADAP GRUP (Lanjutan) CONDITIONS TO THE GROUP (Continued)

Sebagai bagian dari usaha berkesinambungan untuk As part of its continuing efforts to respond to
menghadapi dan mengelola kondisi ekonomi dan and manage the adverse effects of the above
usaha diatas, Grup mengambil langkah-langkah mentioned economic and business conditions, the
yang telah dan akan dilaksanakan secara Group has undertaken and is continuously
berkelanjutan sebagai berikut: implementing the following measures, among
others:

 Mendapatkan kontrak-kontrak jangka panjang  Generate new long-term contracts across

baru melalui diversifikasi area geografis dan diversified geographic areas and industries;
industri;
 Pemanfaatan kesempatan atas aturan cabotage  Take advantage of the Indonesia cabotage
di Indonesia dengan penambahan armada opportunities with additional fleets through
melalui sewa maupun beli; lease or acquisition;
 Perbaikan struktur modal dan likuiditas serta  Improve the capital structure and propose the
mangajukan restrukturisasi utang kepada restructuring of its liabilities to the creditors;
kreditur; dan and
 Penerapan efisiensi biaya.  Implement cost efficiency measures.

Meskipun prospek ekonomi yang tidak menentu saat Despite the current uncertain economic outlook,
ini, manajemen berkeyakinan bahwa Grup akan management believes that the Group will be able
dapat memenuhi kewajibannya, melaksanakan to fulfill its obligation, execute its strategies and
strateginya dan mengelola risiko bisnis dan manage its business and financial risks
keuangan. Manajemen Grup juga berpendapat successfully. The Group's management also
bahwa Grup memiliki sumber daya yang memadai believes that the Group has adequate resources
untuk melanjutkan kegiatan usahanya di masa yang to continue in operational existence in the
akan datang. Oleh karena itu, Grup menerapkan foreseeable future. Accordingly, the Group
dasar kelangsungan usaha dalam menyusun laporan continues to adopt the going concern basis in
keuangan konsolidasian. preparing the consolidated financial statements.

33. PERISTIWA SETELAH PERIODE PELAPORAN 33. EVENTS AFTER REPORTING PERIOD

a. Pada tanggal 15 Januari 2014, Perusahaan a. On 15 January 2014, the Company sold its
telah menjual kapal, MT Gas Bali, kepada vessel, MT Gas Bali, to third party.
pihak ketiga.

b. Pada tanggal 16 Januari 2014, Perusahaan b. On 16 January 2014, the Company has fully
telah melunasi pinjaman dari Bank Mega paid the loan from Bank Mega amounting to
sebesar US$ 10.640.964 melalui penggunaan US$ 10,640,964 using the proceeds from sale
hasil penjualan kapal MT Gas Bali, yang of MT Gas Bali vessel which was pledged to
merupakan jaminan pinjaman. the loan.

c. Pada tanggal 4 April 2014, Perusahaan telah c. On 4 April 2014, the Company has purchased
membeli kapal MT Bull Papua melalui fasilitas vessel MT Bull Papua using the syndicated
kredit sindikasi BNI dan IEB. loan facility from BNI and IEB.

d. Deposito berjangka yang dibatasi d. Time deposit which is restricted for use in
penggunaannya terkait dengan kegiatan usaha relation to the operating activity of PT Karya
PT Karya Bakti Adil, entitas anak yang Bakti Adil, a subsidiary in providing human
bergerak di bidang penyedia tenaga kerja resources has been extended automatically
telah diperpanjang secara otomatis setiap every 5 July.
tanggal 5 Juli.
 Ekshibit E/81 Exhibit E/81

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

33. PERISTIWA SETELAH PERIODE PELAPORAN 33. EVENTS AFTER REPORTING PERIOD (Continued)
(Lanjutan)

e. Sehubungan dengan utang piutang antara e. In connection with the intercompany debt
Perusahaan dan BLT (Catatan 9), pada between the Company and BLT (Note 9), on
13 Oktober 2014, Perusahaan dan BLT 13 October 2014, the Company and BLT
bersama-sama mengeluarkan Statement of jointly issued the Statement of Agreement
Agreement untuk mengklarifikasi hal-hal yang to clarify matters arising from the
timbul dari pelaksanaan beberapa transaksi consummation of several transactions under
dibawah Rencana Perdamaian sebagai berikut: the Restructuring Plan as follows:

i. Pelaksanaan saham yang dijaminkan i. Enforcement of shares pledged under the

sehubungan dengan fasilitas pinjaman MLOR credit facility (Note 11). The
MLOR (Catatan 11). Utang Perusahaan intercompany payable of the Company to
kepada BLT yang dihasilkan dari BLT resulting from the enforcement of
pelaksanaan jaminan saham harus sama the shares pledged shall be equal to the
dengan nilai pasar saham Perusahaan atau market value of the Company’s share or
dalam hal saham Perusahaan di-suspend, in case the Company’s shares are
harga penutupan saham Perusahaan pada suspended, the closing price of the
hari terakhir perdagangan sebelum di- Company’s share on the last trading day
suspend. Jumlah ini akan diperhitungkan ke prior to suspension. This will be offset to
piutang pihak berelasi kepada BLT. Setelah the receivables from BLT. After the
pelaksanaan jaminan saham, BLT akan enforcement of the shares pledged, BLT
dianggap memenuhi kewajibannya dibawah shall be deemed fulfilled its obligation
fasilitas kredit MLOR dan MLOR tidak under the MLOR credit facility and MLOR
menjadi kreditur dibawah Rencana ceases to be creditor under BLT’s
Perdamaian BLT. Restructuring Plan.

ii. Atas pemutusan 5 kontrak bareboat antara ii. Termination of 5 bareboat charter
Perusahaan dengan BLT, utang_yang timbul agreements between the Company and
dari kontrak bareboat tersebut dan biaya BLT, charter hire payable by the
operasional yang dibayarkan BLT terlebih Company and operating expenses paid by
dahulu atas nama Perusahaan sebelum BLT on behalf of the Company prior to
pemutusan masing-masing kontrak, harus the respective charter agreements
diperhitungkan dengan piutang kepada BLT termination dates shall be offset against
dan biaya-biaya operasional yang harus the receivables from BLT and any
dibayar oleh Perusahaan atas nama BLT operating expenses paid by the Company
setelah pemutusan masing-masing kontrak on behalf of BLT after the respective
harus ditambahkan ke piutang kepada BLT, charter agreements termination dates
yang akan dilunasi sesuai dengan ketentuan shall be added to the receivables from
yang ditetapkan dalam Rencana BLT, which will be repaid in accordance
Perdamaian. with the terms set under the
Restructuring Plan.

iii. Sesuai dengan Rencana Perdamaian, iii. Pursuant to the Restructuring Plan, the
Perusahaan akan menjual beberapa kapal Company will sell the vessels pledged
yang dijadikan jaminan atas pinjaman dari under the loans from Bank Mandiri at a
Bank Mandiri dengan harga jual yang sale price agreed and acceptable to Bank
disepakati dan diterima Bank Mandiri. Mandiri. The intercompany claim payable
Utang BLT kepada Perusahaan yang timbul by BLT to the Company arising from the
dari penjualan harus sama dengan seluruh sale shall be equal to the aggregate sale
harga jual kapal dan harus ditambahkan ke price of the vessels and shall be added to
piutang kepada BLT, yang akan dibayarkan the receivables from BLT, which will be
sesuai dengan ketentuan yang ditetapkan repaid according to the terms set out in
didalam Rencana Perdamaian. the Restructuring Plan.
 Ekshibit E/82 Exhibit E/82

PT BUANA LISTYA TAMA Tbk DAN ENTITAS ANAK PT BUANA LISTYA TAMA Tbk AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENT
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

34. REKLASIFIKASI AKUN 34. RECLASSIFICATION OF ACCOUNTS

Grup telah melakukan reklasifikasi surplus revaluasi The Group has reclassified the revaluation
sebesar US$ 3.457.173 dari selisih nilai transaksi reserves of US$ 3,457,173 from the difference in
restrukturisasi antara entitas sepengendali ke value of restructuring transactions among entities
surplus revaluasi pada 1 Januari 2012/31 Desember under common control to revaluation reserves as
2011. Sebelum reklasifikasi, nilai buku aset yang of 1 January 2012/31 December 2011. Before the
dialihkan yang digunakan untuk menghitung selisih reclassification, the book value of the assets
antara harga pengalihan termasuk surplus revaluasi transferred which was used to calculate the
atas kapal. Reklasifikasi tersebut tidak difference between its transfer price included
mempengaruhi jumlah ekuitas konsolidasian pada the revaluation reserves on vessel. The
tanggal 31 Desember 2012 dan tidak mempengaruhi reclassification does not affect the consolidated
terhadap posisi keuangan konsolidasian tanggal total equity as of 31 December 2012 and does not
1 Januari 2012/31 Desember 2011. affect the consolidated financial position as of
1 January 2012/31 December 2011.

35. INFORMASI TAMBAHAN 35. SUPPLEMENTARY INFORMATION

Berikut pada halaman Ekshibit F sampai dengan The following pages on Exhibit F to pages
halaman Ekshibit F/6, merupakan informasi Exhibit F/6, is the financial information of
keuangan tersendiri entitas induk yang menyajikan the parent Company only which presents
laporan posisi keuangan, laporan laba rugi statement of financial position, statement of
komprehensif, laporan perubahan ekuitas, laporan comprehensive income, statement of changes in
arus kas dan informasi investasi entitas anak pada equity, statement of cash flows and other
dimana investasi saham pada entitas anak information of investments in subsidiaries in
dipertanggungjawabkan dengan metode biaya. which investments in its subsidiary was accounted
using the cost method.

36. TANGGUNG JAWAB MANAJEMEN DAN OTORISASI 36. MANAGEMENT RESPONSIBILITY AND
LAPORAN KEUANGAN KONSOLIDASIAN AUTHORIZATION OF CONSOLIDATED FINANCIAL
STATEMENTS

Penyusunan dan penyajian wajar laporan keuangan The preparation and fair presentation of the
konsolidasian merupakan tanggung jawab consolidated financial statements were the
manajemen, dan telah diotorisasi oleh Dewan responsibilities of the management and were
Komisaris dan Direktur untuk diterbitkan pada authorized by the Board of Commissioners and
tanggal 24 Nopember 2014. Directors for issue on 24 November 2014.
 Ekshibit F Exhibit F

PT BUANA LISTYA TAMA Tbk PT BUANA LISTYA TAMA Tbk

LAPORAN POSISI KEUANGAN TERSENDIRI ENTITAS INDUK STATEMENT OF FINANCIAL POSITION OF PARENT COMPANY
31 DESEMBER 2013 31 DECEMBER 2013

31/12/2013 31/12/2012
US$ US$
ASET ASSETS

ASET LANCAR CURRENT ASSETS

Kas dan bank 5.833.011 1.152.533 Cash and cash in bank
Aset keuangan lancar lainnya 10.865.996 - Other current financial assets
Piutang usaha Trade receivables
Pihak berelasi 517.953 2.229.321 Related parties
Pihak ketiga 1.428.179 4.219.682 Third parties
Piutang lain-lain 442.601 234.751 Other receivables
Piutang kepada pihak berelasi 119.981.110 134.638.234 Receivables from related parties
Persediaan 259.463 706.087 Inventories
Pajak dibayar dimuka 35.697 23.240 Prepaid taxes
Biaya dibayar dimuka 1.290.859 2.197.908 Prepaid expenses

Jumlah aset lancar 140.654.869 145.401.756 Total current assets

ASET TIDAK LANCAR NONCURRENT ASSETS

Piutang kepada pihak berelasi 50.821.800 70.263.256 Receivables from related parties
Investasi pada entitas anak 76.523.836 76.523.836 Investment in subsidiaries
Aset tetap - setelah dikurangi Fixed assets -
akumulasi penyusutan 31.823.651 35.192.577 net of accumulated depreciation

Jumlah aset tidak lancar 159.169.287 181.979.669 Total noncurrent assets

JUMLAH ASET 299.824.156 327.381.425 TOTAL ASSETS

 Ekshibit F/2 Exhibit F/2

PT BUANA LISTYA TAMA Tbk PT BUANA LISTYA TAMA Tbk

LAPORAN POSISI KEUANGAN TERSENDIRI ENTITAS INDUK STATEMENT OF FINANCIAL POSITION OF PARENT COMPANY
31 DESEMBER 2013 31 DECEMBER 2013

31/12/2013 31/12/2012
US$ US$
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Pinjaman jangka pendek - 35.747.100 Short-term loans
Utang usaha Trade payables
Pihak berelasi 2.814.627 12.136.257 Related parties
Pihak ketiga 1.758.210 4.441.973 Third parties
Utang lain-lain 320.611 303.378 Other payables
Utang pajak 257.289 543.464 Taxes payables
Beban akrual 7.160.174 3.684.644 Accrued expenses
Pinjaman jangka panjang jatuh tempo Current maturities of
dalam satu tahun 1.464.955 907.128 long-term loans

Jumlah liabilitas jangka pendek 13.775.866 57.763.944 Total current liabilities

LIABILITAS JANGKA PANJANG NONCURRENT LIABILITIES

Pinjaman jangka panjang - setelah
dikurangi bagian jatuh tempo Long-term loans - net
dalam satu tahun 86.008.907 58.581.776 of current maturities
Provisi imbalan pasca-kerja 1.346.472 1.842.697 Provision for post-employment benefits

Jumlah liabilitas jangka panjang 87.355.379 60.424.473 Total noncurrent liabilities

Jumlah liabilitas 101.131.245 118.188.417 Total liabilities

EKUITAS EQUITY
Modal saham - nilai nominal Rp 100 Share capital - Rp 100 par value
per saham per share
Modal dasar - 44.000 juta saham Authorized capital - 44,000 million shares
Modal ditempatkan dan disetor - Issued and paid-up -
17.650 juta saham 198.286.419 198.286.419 17,650 million shares in
Tambahan modal disetor 33.141.185 34.349.292 Additional pain in capital
Cadangan 3.601.985 5.240.619 Reserves
Difference in value of restructuring
Selisih nilai transaksi restrukturisasi transactions among entities
entitas sepengendali - (1.208.107) under common control
Defisit (36.336.678) (27.475.215) Deficit

Jumlah ekuitas 198.692.911 209.193.008 Total equity

JUMLAH LIABILITAS DAN EKUITAS 299.824.156 327.381.425 TOTAL LIABILITIES AND EQUITY
 Ekshibit F/3 Exhibit F/3

PT BUANA LISTYA TAMA Tbk PT BUANA LISTYA TAMA Tbk

LAPORAN LABA RUGI KOMPREHENSIF ENTITAS INDUK STATEMENT OF COMPREHENSIVE INCOME OF PARENT COMPANY
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012
US$ US$

PENDAPATAN 14.610.759 20.585.583 REVENUES

BEBAN LANGSUNG 12.856.203 23.279.147 DIRECT COSTS

LABA (RUGI) KOTOR 1.754.556 (2.693.564) GROSS PROFIT (LOSS)

Beban administrasi (4.397.990) (4.981.213) Administrative expense

Keuntungan kurs mata uang asing- bersih 8.898.566 3.211.523 Gain on foreign exchange - net
Beban keuangan (6.659.843) (12.549.861) Finance costs
Kerugian penjualan aset tetap (175) - Loss on sale of fixed assets
Kerugian lain-lain (8.475.592) (329.728) Other losses

RUGI SEBELUM PAJAK (8.880.478) (17.342.843) LOSS BEFORE TAX

BEBAN PAJAK (148.912) (317.628) TAX EXPENSE

RUGI TAHUN BERJALAN (9.029.390) (17.660.471) LOSS FOR THE YEAR

RUGI KOMPREHENSIF LAIN OTHER COMPREHENSIVE LOSS

Surplus revaluasi kapal (1.470.707) (6.185.298) Revaluation surplus on vessels

JUMLAH RUGI KOMPREHENSIF TOTAL COMPREHENSIVE LOSS

TAHUN BERJALAN (10.500.097) (23.845.769) FOR THE YEAR
 Ekshibit F/4 Exhibit F/4

PT BUANA LISTYA TAMA Tbk PT BUANA LISTYA TAMA Tbk

LAPORAN PERUBAHAN EKUITAS ENTITAS INDUK STATEMENT OF CHANGES IN EQUITY OF PARENT COMPANY
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

Selisih nilai
transaksi
restrukturisasi
entitas
sepengendali/
Tambahan Difference in
Modal value of
disetor/ Surplus restructuring Jumlah
Modal Additional revaluasi/ transactions ekuitas/
disetor/ paid- in Revaluation under common (Defisit)/ Total
Share capital Capital reserves control (Deficit) equity
US$ US$ US$ US$ US$ US$

Saldo per 01/01/2012 198.286.419 34.349.292 11.425.917 (1.208.107) (9.814.744) 233.038.777 Balance as of 01/01/ 2012
Rugi komprehensif Other comprehensive loss
lain tahun berjalan - - (6.185.298) - - (6.185.298) for the year
Transfer ke defisit - - - - - - Transfer to deficit
Rugi tahun berjalan - - - - (17.660.471) (17.660.471) Loss for the year

Saldo per 31/12/2012 198.286.419 34.349.292 5.240.619 (1.208.107) (27.475.215) 209.193.008 Balance as of 31/12/ 2012

Penyesuaian berdasarkan ketentuan Adjustment in accordance with the

transisi Pernyataan Standar transitional provision of Statements of
Akuntansi Keuangan (PSAK) No. 38 Financial Accounting Standards (PSAK) No. 38
(Revisi 2012), "Kombinasi Bisnis (Revised 2012) "Business Combination of
Entitas Sepengendali" - (1.208.107) - 1.208.107 - - Entities Under Common Control" (Note 2)
Rugi komprehensif Other comprehensive loss
lain tahun berjalan - - (1.470.707) - - (1.470.707) for the year
Transfer ke defisit - - (167.927) - 167.927 - Transfer to deficit
Rugi tahun berjalan - - - - (9.029.390) (9.029.390) Loss for the year

Saldo per 31/12/2013 198.286.419 33.141.185 3.601.985 - (36.336.678) 198.692.911 Balance as of 31/12/ 2013
 Ekshibit F/5 Ekshibit F/5

PT BUANA LISTYA TAMA Tbk PT BUANA LISTYA TAMA Tbk

LAPORAN ARUS KAS ENTITAS INDUK STATEMENT OF CASH FLOWS OF PARENT COMPANY
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2013 FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012
US$ US$

ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 18.905.780 22.203.572 Cash receipts from customers
Pembayaran pada pemasok (9.488.365) (11.012.535) Cash paid to suppliers
Pembayaran pada karyawan (5.009.867) (4.655.678) Cash paid to employees

Kas dihasilkan dari operasi 4.407.548 6.535.359 Cash generated from operations
Pembayaran pajak penghasilan (264.002) (339.366) Income tax paid
Pembayaran beban keuangan (6.215.793) (5.277.736) Financial cost paid

Kas bersih diperoleh dari Net cash provided by

(digunakan untuk) aktivitas operasi (2.072.247) 918.257 (used in) operating activities

ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES
Penerimaan bunga 12.626 4.940 Interest received
Kenaikan kas yang dibatasi penggunaannya (10.865.996) - Increase in restricted cash
Penjualan aset tetap 772 - Proceeds of sale of fixed assets
Perolehan aset tetap (40.801) (1.250.338) Acquisition of fixed assets

Kas bersih digunakan Net cash used in

untuk aktivitas investasi (10.893.399) (1.245.398) investing activities

ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES
Perubahan piutang kepada pihak berelasi 18.104.621 867.310 Changes in receivable from related parties
Pembayaran pinjaman jangka panjang (485.321) (615.318) Payment of long-term loans

Kas bersih diperoleh Net cash provided by

dari aktivitas pendanaan 17.619.300 251.992 financing activities

KENAIKAN (PENURUNAN) NET INCREASE (DECREASE) IN

BERSIH KAS DAN BANK 4.653.654 (75.149) CASH AND CASH IN BANK

Pengaruh perubahan kurs mata uang asing 26.824 120.187 Effect of exchange rate changes

CASH AND CASH IN BANK

KAS DAN BANK AWAL TAHUN 1.152.533 1.107.495 AT BEGINNING OF THE YEAR

CASH AND CASH IN BANK

KAS DAN BANK AKHIR TAHUN 5.833.011 1.152.533 AT END OF THE YEAR
 Ekshibit F/6

PT BUANA LISTYA TAMA Tbk

INFORMASI INVESTASI DALAM ENTITAS ANAK/INFORMATION OF INVESTMENTS IN SUBSIDIARIES
31 DESEMBER 2013/31 DECEMBER 2013

Perincian investasi pada entitas anak sebagai berikut/The investment in share in subsidiary is as follow:

% Pemilikan/ % of ownership US$ Pemilikan/US$ of ownership

Entitas anak/Subsidiaries 31/12/2013 31/12/2012 31/12/2013 31/12/2012

PT Banyu Laju Shipping 99,80 99,80 102.536 102.536

PT Pearl Maritime 99,00 99,00 27.295 27.295
PT Diamond Maritime 99,98 99,98 18.332.146 18.332.146
PT Sapphire Maritime 99,00 99,00 27.295 27.295
PT Ruby Maritime 99,00 99,00 27.295 27.295
PT Citrine Maritime 99,97 99,97 14.386.727 14.386.727
PT Gemilang Bina Lintas Tirta 99,00 99,00 29.307 29.307
PT Emerald Maritime 99,99 99,99 43.024.385 43.024.385
PT Karya Bakti Adil 99,00 99,00 314.998 314.998
PT Bayu Lestari Tanaya 99,00 99,00 25.063 25.063
PT Anjasmoro Maritime 99,00 99,00 27.386 27.386
PT Jade Maritime 99,00 99,00 24.300 24.300
PT Onyx Maritime 99,00 99,00 24.300 24.300
PT Topaz Maritime 99,00 99,00 24.300 24.300
PT BLT International Group 99,00 99,00 26.503 26.503
BLT Marina Shipping Corporation 100,00 100,00 50.000 50.000
BLT Shipping Corporation 100,00 100,00 50.000 50.000

Jumlah investasi/Total investment 76.523.836 76.523.836

Investasi dalam entitas anak dalam informasi keuangan tersendiri entitas induk disajikan dengan metode biaya.
Investment in subsidiary in the separate Company's financial statement was presented in cost method.
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