PT Sinar Mas Agro Resources and Technology Tbk and Its Subsidiaries dan Entitas Anak/ Laporan Keuangan Konsolidasian/ Consolidated Financial Statements Pada Tanggal 30 Juni 2012 dan 31 Desember 2011, serta Untuk Periode-Periode Enam Bulan yang Berakhir 30 Juni 2012 dan 2011/ As of June 30, 2012 and December 31, 2011, and For the Six-Month Periods Ended June 30, 2012 and 2011 PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK/AND ITS SUBSIDIARIES DAFTAR ISI/TABLE OF CONTENTS Halaman/ Page Salinan Surat Pernyataan Direksi tentang Tanggung Jawab atas Laporan Keuangan Konsolidasian PT Sinar Mas Agro Resources and Technology Tbk dan Entitas Anak pada Tanggal 30 Juni 2012 dan 31 Desember 2011, serta Untuk Periode-Periode Enam Bulan yang Berakhir 30 Juni 2012 dan 2011/ A Copy of the Directors’ Statement on the Responsibility for Consolidated Financial Statements of PT Sinar Mas Agro Resources and Technology Tbk and Its Subsidiaries as of June 30, 2012 and December 31, 2011, and For the Six-Month Periods Ended June 30, 2012 and 2011 LAPORAN KEUANGAN KONSOLIDASIAN - Pada Tanggal 30 Juni 2012 dan 31 Desember 2011, serta Untuk Periode-Periode Enam Bulan yang Berakhir 30 Juni 2012 dan 2011/ CONSOLIDATED FINANCIAL STATEMENTS - As of June 30, 2012 and December 31, 2011, and For the Six-Month Periods Ended June 30, 2012 and 2011 Laporan Posisi Keuangan Konsolidasian/Consolidated Statements of Financial Position 1 Laporan Laba Rugi Komprehensif Konsolidasian/Consolidated Statements of Comprehensive 3 Income Laporan Perubahan Ekuitas Konsolidasian/Consolidated Statements of Changes in Equity 4 Laporan Arus Kas Konsolidasian/Consolidated Statements of Cash Flows 5 Catatan atas Laporan Keuangan Konsolidasian/Notes to Consolidated Financial Statements 6 PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND ITS SUBSIDIARIES Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position 30 Juni 2012 dan 31 Desember 2011 June 30, 2012 and December 31, 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) 30 Juni 2012/ 31 Desember 2011/ June 30, 2012 Catatan/Notes December 31, 2011 ASET LANCAR CURRENT ASSETS Kas dan setara kas 1.029.762 2,3,4,17,28g,29 486.225 Cash and cash equivalents Piutang usaha 2,3,5,13,17,29 Trade accounts receivable Pihak berelasi 2.853.930 28a 2.840.747 Related parties Pihak ketiga 583.307 418.399 Third parties Piutang lain-lain - pihak ketiga 121.366 2,3,17 69.337 Other receivables - third parties Persediaan 2.912.399 2,6,13,28c 2.839.141 Inventories Biaya dibayar dimuka dan aset Prepaid expenses and other lancar lainnya 559.346 2,7,29,30c 736.227 current assets Pajak dibayar dimuka - bersih 247.569 553.468 Prepaid tax - net JUMLAH ASET LANCAR 8.307.679 7.943.544 TOTAL CURRENT ASSETS ASET TIDAK LANCAR NONCURRENT ASSETS Piutang dari pihak berelasi 168.868 2,3,17,28e,28i 18.995 Due from related parties Investasi saham 23.479 2,3,8 23.727 Investments in shares of stock Tanaman perkebunan 2,3,9,22 Plantations Tanaman telah menghasilkan Mature plantations setelah dikurangi akumulasi amortisasi net of accumulated amortization of sebesar Rp 594.777 dan Rp 554.921 Rp 594,777 and Rp 554,921 as of masing-masing pada tanggal June 30, 2012 and December 31, 2011, 30 Juni 2012 dan 31 Desember 2011 1.321.986 1.237.830 respectively Tanaman belum menghasilkan 88.536 199.339 Immature plantations Aset tetap Fixed assets setelah dikurangi akumulasi penyusutan net of accumulated depreciation of sebesar Rp 1.877.759 dan Rp 1.733.555 Rp 1,877,759 and Rp 1,733,555 as of masing-masing pada tanggal 30 Juni 2012 2,3,10,13 June 30, 2012 and December 31, 2011, dan 31 Desember 2011 5.118.081 16,22,23,28c 4.541.653 respectively Aset takberwujud 2,3 Intangible assets Goodwill 22.232 11 22.232 Goodwill Merek dagang - bersih 1 .908 2.289 Brands and trademarks - net Aset lain-lain Other assets Taksiran tagihan pajak 520.615 2,15 198.276 Estimated claims for tax refund Biaya tangguhan hak atas tanah - bersih 37.822 2 38.298 Deferred landrights - net Bibitan 21.867 2 18.557 Nursery Biaya tangguhan lain-lain - bersih 8 .764 2 6.573 Other deferred charges - net Lain-lain 782.393 2,3,12,17,29,30b 470.586 Others JUMLAH ASET TIDAK LANCAR 8.116.551 6.778.355 TOTAL NONCURRENT ASSETS JUMLAH ASET 16.424.230 14.721.899 TOTAL ASSETS Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements. - 1 - PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND ITS SUBSIDIARIES Laporan Posisi Keuangan Konsolidasian Consolidated Statements of Financial Position 30 Juni 2012 dan 31 Desember 2011 June 30, 2012 and December 31, 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) 30 Juni 2012/ 31 Desember 2011/ June 30, 2012 Catatan/Notes December 31, 2011 LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang bank jangka pendek 4.218.236 2,3,5,6,10,13,17,28h,29 2.051.182 Short-term bank loans Utang usaha 2,3,14,17,29 Trade accounts payable Pihak berelasi 1.158.581 28b 871.056 Related parties Pihak ketiga 532.969 494.254 Third parties Utang lain-lain - pihak ketiga 253.299 2,3,17,29 258.233 Other accounts payable - third parties Uang muka pelanggan - pihak ketiga 17.274 2,29,30c 41.931 Advances from customers - third parties Biaya yang masih harus dibayar 140.278 2,3,17,28i,29 126.736 Accrued expenses Utang pajak 202.209 2,15 261.968 Taxes payable Bagian utang jangka panjang yang akan jatuh tempo dalam waktu satu tahun 192.013 2,3,10,16,17,29 143.501 Current portion of long-term loans JUMLAH LIABILITAS JANGKA PENDEK 6.714.859 4.248.861 TOTAL CURRENT LIABILITIES LIABILITAS JANGKA PANJANG NONCURRENT LIABILITIES Liabilitas pajak tangguhan - bersih 330.644 2,15 313.614 Deferred tax liabilities - net Liabilitas imbalan pasti pasca-kerja 215.437 2,3,26 200.331 Defined post-employment benefits liabilities Utang bank jangka panjang setelah dikurangi bagian yang akan Long-term bank loans jatuh tempo dalam waktu satu tahun 673.238 2,3,10,16,17,29 732.543 net of current portion Utang kepada pihak berelasi 24.692 2,3,17,28i,29 1.890.998 Due to related parties JUMLAH LIABILITAS JANGKA PANJANG 1.244.011 3.137.486 TOTAL NONCURRENT LIABILITIES JUMLAH LIABILITAS 7.958.870 7.386.347 TOTAL LIABILITIES EKUITAS EQUITY Ekuitas yang Dapat Diatribusikan Equity Attributable to Owners kepada Pemilik Entitas Induk of the Company Modal saham Capital stock Nilai nominal Rp 200 per saham Rp 200 par value per share (Dalam Rupiah penuh) (In full Rupiah) Modal dasar - 5.000.000.000 saham Authorized - 5,000,000,000 shares Modal ditempatkan dan disetor Issued and fully paid - penuh - 2.872.193.366 saham 574.439 19 574.439 2,872,193,366 shares Tambahan modal disetor 1.662.472 1.662.472 Additional paid-in capital Selisih nilai transaksi restrukturisasi Difference arising from restructuring entitas sepengendali 94.404 2 94.404 transactions of entities under common control Saldo laba Retained earnings Telah ditentukan penggunaannya 114.888 20 114.888 Appropriated Belum ditentukan penggunaannya 5.890.979 4.778.635 Unappropriated Komponen ekuitas lainnya 123.291 2 106.031 Other components of equity Jumlah 8.460.473 7.330.869 Total Kepentingan Nonpengendali 4.887 2,18 4 .683 Non-controlling Interests JUMLAH EKUITAS 8.465.360 7.335.552 TOTAL EQUITY JUMLAH LIABILITAS DAN EKUITAS 16.424.230 14.721.899 TOTAL LIABILITIES AND EQUITY Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements. - 2 - PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND ITS SUBSIDIARIES Laporan Laba Rugi Komprehensif Konsolidasian Consolidated Statements of Comprehensive Income Untuk Periode-Periode Enam Bulan yang Berakhir 30 Juni 2012 dan 2011 For the Six-Month Periods Ended June 30, 2012 and 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) 30 Juni 2012/ 30 Juni 2011/ June 30, 2012 Catatan/Notes June 30, 2011 PENJUALAN BERSIH 13.586.554 2,21,28a 16.347.910 NET SALES BEBAN POKOK PENJUALAN 10.332.406 2,9,10,22,28b,28j 12.214.237 COST OF GOODS SOLD LABA KOTOR 3.254.148 4.133.673 GROSS PROFIT BEBAN USAHA 2,10,23,28c,28e,28f,28j OPERATING EXPENSES Penjualan 1.296.103 2 .675.239 Selling Umum dan administrasi 294.609 4 4.332 General and administrative Jumlah Beban Usaha 1.590.712 2.719.571 Total Operating Expenses LABA USAHA 1.663.436 1.414.102 INCOME FROM OPERATIONS PENGHASILAN (BEBAN) LAIN-LAIN 2 OTHER INCOME (EXPENSES) Pendapatan bunga 7.361 16.127 Interest income Bagian atas laba (rugi) entitas Share in net earnings (losses) of asosiasi - bersih ( 594) 8 4 57 associates - net Laba (rugi) selisih kurs - bersih ( 45.923) 24,29 149.570 Gain (loss) on foreign exchange - net Beban bunga dan keuangan lainnya ( 126.085) 13,16,25,28i ( 156.232) Interest and other financial charges Lain-lain - bersih ( 4.415) 10 111.240 Miscellaneous - net Penghasilan (Beban) Lain-lain - Bersih (169.656) 121.162 Other Income (Expenses) - Net LABA SEBELUM PAJAK 1.493.780 1.535.264 INCOME BEFORE TAX BEBAN PAJAK 2,15 TAX EXPENSE Kini 364.211 359.876 Current Tangguhan 16.774 15.587 Deferred Jumlah Beban Pajak 380.985 375.463 Total Tax Expense LABA PERIODE BERJALAN 1.112.795 1.159.801 INCOME FOR THE PERIOD PENDAPATAN (BEBAN) KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME (LOSS) Selisih kurs atas penjabaran laporan Exchange differences on translation of the keuangan entitas anak 17.435 2 (13.697) financial statements of a subsidiary JUMLAH LABA KOMPREHENSIF 1.130.230 1.146.104 TOTAL COMPREHENSIVE INCOME Laba yang dapat diatribusikan kepada: Income attributable to: Pemilik entitas induk 1.112.344 1.159.249 Owners of the Company Kepentingan nonpengendali 451 2 5 52 Non-controlling interests 1.112.795 1.159.801 Laba komprehensif yang Comprehensive income dapat diatribusikan kepada: attributable to: Pemilik entitas induk 1.129.603 1.145.689 Owners of the Company Kepentingan nonpengendali 6 27 2,18 4 15 Non-controlling interests 1.130.230 1.146.104 LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE (Dalam Rupiah penuh) 3 87 2,27 4 04 (In full Rupiah) Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements. - 3 - PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND ITS SUBSIDIARIES Laporan Perubahan Ekuitas Konsolidasian Consolidated Statements of Changes in Equity Untuk Periode-Periode Enam Bulan yang Berakhir 30 Juni 2012 dan 2011 For the Six-Month Periods Ended June 30, 2012 and 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas Induk/ Equity Attributable to Owners of the Company Selisih Nilai Transaksi Restrukturisasi Entitas Sepengendali/ Tambahan Difference Komponen Modal Arising from Ekuitas Disetor/ Restructuring Saldo Laba/ Retained Earnings Lainnya/ Kepentingan Additional Transactions of Telah Ditentukan Belum Ditentukan Other Nonpengendali/ Catatan/ Modal Saham/ Paid-in Entities Under Penggunaannya/ Penggunaannya/ Components of Jumlah/ Non-controlling Jumlah Ekuitas/ Notes Capital Stock Capital Common Control Appropriated Unappropriated Equity Total Interests Total Equity Saldo pada tanggal 1 Januari 2011 Balance as of January 1, 2011 before sebelum penyesuaian 574.439 1.662.472 94.404 114.888 3.282.417 101.083 5.829.703 3.620 5.833.323 adjustment Penghentian pengakuan goodwill negatif Derecognition of negative goodwill in accordance sesuai ketentuan transisi PSAK No. 22 with transition provision of PSAK No. 22 (Revisi 2010) "Kombinasi Bisnis" 2,11 - - - - 142.323 - 142.323 - 142.323 (Revised 2010) "Business Combinations" Saldo pada tanggal 1 Januari 2011 Balance as of January 1, 2011 after setelah penyesuaian 574.439 1.662.472 94.404 114.888 3.424.740 101.083 5.972.026 3.620 5.975.646 adjustment Jumlah laba komprehensif periode berjalan - - - - 1.159.249 ( 13.560) 1.145.689 415 1.146.104 Total comprehensive income for the period Saldo pada tanggal 30 Juni 2011 574.439 1.662.472 94.404 114.888 4.583.989 87.523 7.117.715 4.035 7.121.750 Balance as of June 30, 2011 Saldo pada tanggal 1 Januari 2012 574.439 1.662.472 94.404 114.888 4.778.635 106.031 7.330.869 4.683 7.335.552 Balance as of January 1, 2012 Jumlah laba komprehensif periode berjalan - - - - 1.112.344 1 7.260 1.129.604 627 1.130.231 Total comprehensive income for the period Pembagian dividen anak perusahaan kepada Distribution of dividends of a subsidiary to pemegang saham nonpengendali - - - - - - - (423) (423) non-controlling shareholders Saldo pada tanggal 30 Juni 2012 574.439 1.662.472 94.404 114.888 5.890.979 123.291 8.460.473 4.887 8.465.360 Balance as of June 30, 2012 Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements. - 4 - PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND ITS SUBSIDIARIES Laporan Arus Kas Konsolidasian Consolidated Statements of Cash Flows Untuk Periode-Periode Enam Bulan yang Berakhir 30 Juni 2012 dan 2011 For the Six-Month Periods Ended June 30, 2012 and 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) 30 Juni 2012/ 30 Juni 2011/ June 30, 2012 June 30, 2011 ARUS KAS DARI AKTIVITAS OPERASI CASH FLOWS FROM OPERATING ACTIVITIES Penerimaan kas dari pelanggan 1 3.606.926 1 6.296.578 Cash receipts from customers Pembayaran kas untuk pemasok (9.927.828) (12.363.538) Cash paid to suppliers Kas bersih yang diperoleh dari operasi 3.679.098 3.933.040 Net cash generated from operations Pembayaran untuk aktivitas operasional lainnya - bersih (941.102) (951.581) Payments of other operating activities - net Pembayaran pajak ekspor (969.606) (2.439.850) Payments of export tax Penerimaan tagihan pajak 15.941 - Proceeds from claims for tax refund Pendapatan bunga 7.391 1 5.985 Interest received Pembayaran beban bunga (131.720) (144.525) Payments of interest Pembayaran pajak penghasilan badan (422.081) (288.472) Payments of corporate income taxes Kas Bersih Diperoleh dari Aktivitas Operasi 1.237.921 124.597 Net Cash Provided by Operating Activities ARUS KAS DARI AKTIVITAS INVESTASI CASH FLOWS FROM INVESTING ACTIVITIES Pencairan investasi jangka pendek - 9 0.102 Withdrawal of short-term investments Penambahan investasi jangka pendek - (579.116) Placements of short-term investments Hasil penjualan aset tetap 6.359 5 .994 Proceeds from sale of fixed assets Perolehan tanaman perkebunan dan aset tetap (616.426) (312.836) Acquisitions of plantations and fixed assets Kenaikan bersih bibitan (6.049) (11.565) Net increase in nursery Penambahan biaya hak atas tanah (367) (834) Additional landrights cost Penambahan uang muka proyek (187.140) (65.861) Additional advances for projects Penambahan uang perkebunan plasma (163.308) (75.203) Additional advances for plasma plantation projects Pengembalian uang muka perkebunan plasma 157.228 6 5.485 Collections of advances for plasma plantation projects Penambahan biaya pembukaan lahan (5.580) (7.802) Additional land clearing costs Kas Bersih Digunakan untuk Aktivitas Investasi (815.283) (891.636) Net Cash Used in Investing Activities ARUS KAS DARI AKTIVITAS PENDANAAN CASH FLOWS FROM FINANCING ACTIVITIES Penerimaan utang bank jangka pendek 3.583.717 4.044.771 Proceeds from short-term bank loans Pembayaran utang bank jangka pendek (1.564.468) (3.416.332) Payments of short-term bank loans Penerimaan utang bank jangka panjang 4 4.830 - Proceeds from long-term bank loans Pembayaran utang jangka panjang (72.564) (66.427) Payments of long-term loans Penambahan utang kepada pihak berelasi 5 09.601 1.873.853 Additional amounts due to related parties Pembayaran utang kepada pihak berelasi (2.392.102) (1.329.752) Payments of amounts due to related parties Kas Bersih Diperoleh dari Aktivitas Pendanaan 109.014 1.106.113 Net Cash Provided by Financing Activities KENAIKAN BERSIH NET INCREASE IN KAS DAN SETARA KAS 531.652 339.074 CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS KAS DAN SETARA KAS AWAL PERIODE 486.225 292.971 AT THE BEGINNING OF THE PERIOD Pengaruh perubahan kurs mata uang asing 11.885 (5.321) Effect of foreign exchange rate changes CASH AND CASH EQUIVALENTS KAS DAN SETARA KAS AKHIR PERIODE 1.029.762 626.724 AT THE END OF THE PERIOD Lihat catatan atas laporan keuangan konsolidasian yang merupakan See accompanying notes to consolidated financial statements bagian yang tidak terpisahkan dari laporan keuangan konsolidasian. which are an integral part of the consolidated financial statements. - 5 - PT SINAR MAS AGRO RESOURCES PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND TECHNOLOGY Tbk AND ITS SUBSIDIARIES Catatan atas Laporan Keuangan Konsolidasian Notes to Consolidated Financial Statements Pada Tanggal 30 Juni 2012 dan 31 Desember 2011, As of June 30, 2012 and December 31, 2011, serta untuk Periode Enam Bulan yang Berakhir and For the Six-Month Periods Ended 30 Juni 2012 dan 2011 June 30, 2012 and 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) 1. Umum 1. General a. Pendirian dan Informasi Umum a. Establishment and General Information PT Sinar Mas Agro Resources and PT Sinar Mas Agro Resources and Technology Tbk (Perusahaan) didirikan Technology Tbk (“the Company”) was berdasarkan Akta No. 67 tanggal established on June 18, 1962 based 18 Juni 1962 yang dibuat oleh Raden on Notarial Deed No. 67 of Raden Kadiman, S.H., notaris di Jakarta. Akta Kadiman, S.H., public notary in Jakarta. pendirian ini disahkan oleh Menteri The Deed of Establishment was approved Kehakiman Republik Indonesia (sekarang by the Ministry of Justice of the Republic of Menteri Hukum dan Hak Asasi Manusia Indonesia (currently the Ministry of Law and Republik Indonesia) dalam Surat Human Rights of The Republic of Keputusan No. J.A.5/115/3 tanggal Indonesia) in its Decision Letter 29 Agustus 1963 serta diumumkan dalam No. J.A.5/115/3 dated August 29, 1963 and Berita Negara Republik Indonesia No. 83 was published in the State Gazette of the tanggal 15 Oktober 1963, Tambahan Republic of Indonesia No. 83 dated No. 570. Pada tahun 1970, Perusahaan October 15, 1963, Supplement No. 570. In memperoleh izin dari Menteri Negara 1970, the Company obtained approval from Ekonomi, Keuangan dan Industri the State Ministry of Economy, Finance and berdasarkan Surat Keputusan Industry based on its Decree No. KEP/41/MEKUIN/7/1970 tanggal No. KEP/41/MEKUIN/7/1970 dated 15 Juli 1970 untuk mengubah status July 15, 1970 to change the Company’s Perusahaan menjadi Penanaman Modal status to a Foreign Investment Company Asing (PMA) dalam rangka Undang-undang (PMA) within the framework of the Foreign Penanaman Modal Asing No. 1 tahun 1967. Investment Law No. 1 Year 1967. Selanjutnya, berdasarkan Surat Subsequently, based on the Letter of Persetujuan Tetap Badan Koordinasi Approval No. 06/V/1985 dated March 28, Penanaman Modal No. 06/V/1985 tanggal 1985 of the Investment Coordinating Board, 28 Maret 1985, status Perusahaan berubah the Company changed its status from dari Penanaman Modal Asing menjadi a Foreign Investment Company to Penanaman Modal Dalam Negeri. a Domestic Investment Company. Anggaran Dasar Perusahaan telah The Articles of Association have been mengalami beberapa kali perubahan, amended several times, the latest terakhir berdasarkan Akta No. 30 tanggal amendment of which was based on Notarial 7 Juli 2010 yang dibuat oleh Linda Deed No. 30 dated July 7, 2010 of Linda Herawati, S.H., notaris di Jakarta, tentang Herawati, S.H., public notary in Jakarta, perubahan masa jabatan Dewan Komisaris regarding the change in the tenure of dan Direksi, semula 3 (tiga) tahun menjadi service of the Board of Commissioners and 5 (lima) tahun. Perubahan tersebut telah Directors, from six (3) to five (5) years. The diberitahukan, diterima dan dicatat dalam amendment has been notified, accepted database Sistem Administrasi Departemen and recorded in a database System Hukum dan Hak Asasi Manusia Republik Administration Department of Law and Indonesia berdasarkan Surat Penerimaan Human Rights of the Republic of Indonesia Pemberitahuan Perubahan Anggaran based on Letter of Receipt of Amendment Dasar No. AHU-AH.01.10-18251 tanggal Notification No. AHU-AH.01.10-18251 20 Juli 2010. dated July 20, 2010. - 6 - PT SINAR MAS AGRO RESOURCES PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY Tbk DAN ENTITAS ANAK AND TECHNOLOGY Tbk AND ITS SUBSIDIARIES Catatan atas Laporan Keuangan Konsolidasian Notes to Consolidated Financial Statements Pada Tanggal 30 Juni 2012 dan 31 Desember 2011, As of June 30, 2012 and December 31, 2011, serta Untuk Periode-Periode Enam Bulan and For the Six-Month Periods Ended yang Berakhir 30 Juni 2012 dan 2011 June 30, 2012 and 2011 (Disajikan dalam Jutaan Rupiah, Kecuali Dinyatakan Lain) (Expressed in Million Rupiah, Unless Otherwise Stated) Perusahaan dan entitas anak (selanjutnya The Company and its subsidiaries (herein- dinyatakan sebagai “Grup”) didirikan dan after referred to as “the Group”) are menjalankan usahanya di Indonesia. Ruang incorporated and conduct their operations lingkup kegiatan usaha Grup meliputi in Indonesia. The scope of activities of the pengembangan perkebunan, pertanian, Group mainly comprises plantation perdagangan, pengolahan hasil development, agriculture, trading, refining perkebunan, serta bidang jasa pengelolaan of plantation products and management dan penelitian yang berhubungan dengan services and research related to the usaha. Hasil produksi Grup meliputi hasil business. The Group’s products consist of olahan kelapa sawit antara lain minyak refined palm products such as cooking oil, goreng, lemak nabati dan margarin serta fat and margarine, and crude palm oil minyak kelapa sawit (CPO), inti sawit (PK), (CPO), palm kernel (PK), palm kernel oil minyak inti sawit (PKO), cocoa butter (PKO), cocoa butter substitute (CBS), fatty substitute (CBS), fatty acids, glycerine, acids, glycerine, soap and packaging sabun dan produk kemasan seperti botol products such a bottles and caps. dan tutup botol. Perusahaan memulai kegiatan The Company started its commercial komersialnya pada tahun 1962. operations in 1962. Perusahaan berkedudukan di Plaza BII The Company is located at Plaza BII Menara II, Lt. 30, JI. M.H. Thamrin Tower II, 30th Floor, JI. M.H. Thamrin No. 51, Jakarta. Pabrik dan kebun divisi No. 51, Jakarta. The factories and perkebunan Grup berlokasi di Sumatra plantations under the Group’s plantation Utara, Jambi, Riau, Bangka, Kalimantan division are located in North Sumatra, Tengah, Kalimantan Timur dan Kalimantan Jambi, Riau, Bangka, Central Kalimantan, Selatan, sedangkan pabrik pengolahannya East Kalimantan and South Kalimantan, berlokasi di Surabaya, Medan, Tarjun dan while the factories under the refinery Jakarta. Luas area perkebunan Grup yang division are located in Surabaya, Medan, sudah ditanam sampai dengan tanggal Tarjun and Jakarta. The total planted area 30 Juni 2012 sekitar 107.670 hektar. of the Group’s plantations as of June 30, 2012, is approximately 107,670 hectares. PT Purimas Sasmita adalah entitas induk PT Purimas Sasmita is the parent entity of Perusahaan, sedangkan Golden Agri- the Company, whereas Golden Agri- Resources Ltd. (GAR), Perusahaan Publik Resources Ltd. (GAR), which is listed in di Singapore Exchange, adalah pemegang Singapore Exchange, is its ultimate parent saham akhir Perusahaan. entity. - 7 -