A Crowe l-lorwath, - BULOG · sesuai dengan Standar Akuntansi Keuangan di Indonesia, dan ... untuk memperoleh keyakinan memadai tentang apakah laporan keuangan konsolidasian bebas

A Crowe l-lorwath,

PERUSAHAAN UMUM BULOGDAN ENTIT AS ANAKIAND ITS SUBSIDIARY

LAPORAN KEUANGAN KONSOLIDASIANTANGGAL 31 DESEMBER 2014 SERTA TAHUNYANG BERAKHIR PADA TANGGAL TERSEBUTDAN LAPORAN AUDITOR INDEPENDEN/CONSOLIDATED FINANCIAL STATEMENTSAS OF DECEMBER 31, 2014 ANDFOR THE YEAR THEN ENDEDAND INDEPENDENT AUDITORS' REPORT

(MATA UANG RUPIAH/INDONESIAN CURRENCy)

The original consolidated financial statements included herein are in the Indonesian

language

PERUSAHAAN UMUM BULOG

DAN ENTITAS ANAK LAPORAN KEUANGAN KONSOLIDASIAN

TANGGAL 31 DESEMBER 2014 DAN TAHUN YANG BERAKHIR PADA TANGGAL

TERSEBUT DAN LAPORAN AUDITOR INDEPENDEN

(Dinyatakan dalam Rupiah, kecuali dinyatakan lain)

PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY

CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2014 AND

FOR THE YEAR THEN ENDED WITH INDEPENDENT AUDITORS’ REPORT

(Expressed in Rupiah, unless otherwise stated)

Daftar Isi/Table of Contents Halaman/Pages

Laporan Auditor Independen Independent Auditors’ Report Laporan Posisi Keuangan Konsolidasian 1 - 2 Consolidated Statement of Financial Position Laporan Laba Rugi Komprehensif Konsolidasian 3 Consolidated Statement of Comprehensive Income Consolidated Statement of Changes in Laporan Perubahan Ekuitas Konsolidasian 4 Equity Laporan Arus Kas Konsolidasian 5 - 6 Consolidated Statement of Cash Flows Catatan atas Laporan Keuangan Konsolidasian 7 - 69 Notes to the Consolidated Financial Statements Informasi tambahan: Supplementary Information: Laporan Posisi Keuangan 70 - 71 Statement of Financial Position Laporan Laba Rugi Komprehensif 72 Statement of Comprehensive Income Statement of Changes in Laporan Perubahan Ekuitas 73 Equity Laporan Arus Kas 74 - 75 Statement of Cash Flows

A Crowe HorwathTM KOSASIH, NURDIYAMAN, TJAHJO & REKAN'Registered Public Accountants No. 630/KM.1/2009 (Head Office)Member Crowe Horwath International

Cyber 2 Tower 21st floor Unit FJI. H.R. Rasuna Said Siok X-5Jakarta 12950, Indonesia+62 (21) 2553 9299'+62 (21) 2553 9298 Faxwww.crowehorwath.co.id

Laporan Auditor Independen

Laporan No, KNT&R-13,02,2015/01

Pemilik Modal, Dewan Pengawas dan DireksiPerusahaan Umum BULOG

Kami telah mengaudit laporan keuangan konsolidasianPerusahaan Umum BULOG ("Perum BULOG") dan EntitasAnaknya terlampir, yang terdiri dari laporan posisi keuangankonsolidasian tanggal 31 Desember 2014 serta laporan labarugi komprehensif, laporan perubahan ekuitas dan laporanarus kas konsolidasian untuk tahun yang berakhir padatanggal tersebut, dan suatu ikhtisar kebijakan akuntansisignifikan dan informasi penjelasan lainnya.

Tanggung Jawab manajemen atas laporan keuangan

Manajemen bertanggungjawab atas penyusunan danpenyajian wajar laporan keuangan konsolidasian tersebutsesuai dengan Standar Akuntansi Keuangan di Indonesia, danatas pengendalian internal yang dianggap perlu olehmanajemen untuk memungkinkan penyusunan laporankeuangan yang bebas dari kesalahan penyajian material, baikyang disebabkan oleh kecurangan maupun kesalahan.

Tanggung Jawab auditor atas laporan keuangan

Tanggung jawab kami adalah untuk menyatakan suatu opiniatas laporan keuangan konsolidasian ini berdasarkan auditkami. Kami melaksanakan audit kami berdasarkan StandarAudit yang ditetapkan oleh Institut Akuntan Publik Indonesia.Standar tersebut menqharuskan : kami untuk mematuhiketentuan etika serta merencanakan dan melaksanakan audituntuk memperoleh keyakinan memadai tentang apakahlaporan keuangan konsolidasian bebas dari kesalahanpenyajian material.

The original report included herein is in the Indonesian language

Independent Auditors! Report

Report No, K~JT&R-13,02,2015/01

The Owner of Capital, Boards of Trustees and DirectorsPerusahaan Umum BULOG

We have audited the accompanying consolidated financialstatements of Perusahaan Umum BULOG ("Perum BULOG'Jand its Subsidiary, which comprise the consolidated statementof financial position as of December 31, 2014, and theconsolidated statement of comprehensive iricome, statementof changes in equity, and statement of cash flows for the yearthen ended, and a summary of significant accounting policiesand other explanatory information.

Management's responsibility for the financial statements

Management is responsible for the preparation and fairpresentation of these consolidated financial statements inaccordance with Indonesian Financial Accounting Standards,and for such internal control as management determines isnecessary to enable the preparation of consolidated financialstatements that are free from material misstatement, whetherdue to fraud or error.

Auditors' responsibility for the financial statements

Our responsibility is to express an opinion on theseconsolidated financial statements based on our audit. Weconducted our audit in accordance with Standards on Auditingestablished by the Indonesian Institute of Certified PublicAccountants. Those standards require that we comply withethical requirements and plan and perform the audit to obtainreasonable assurance about whether the consolidatedfinancial statements are free from material misstatement.

Suatu audit melibatkan pelaksanaan prosedur untukmemperoleh bukti audit tentang angka-angka danpengungkapan dalam laporan keuangan. Prosedur yang dipilihbergantung pada perlimbangan auditor, termasuk penilaianatas risiko kesalahan penyajian material dalam laporankeuangan, baik yang disebabkan kecurangan maupunkesalahan. Dalam melakukan penilaian risiko tersebut, auditormemperlimbangkan pengendalian intern yang relevan denganpenyusunan dan penyajian wajar laporan keuangan entitasuntuk merancang prosedur audit yang tepat sesuai dengankondisinya, tetapi bukan untuk tujuan menyatakan opini ataskeefektivitasan pengendalian internal entitas. Suatu audit jugamencakup pengevaluasian atas ketepatan kebijakan akuntansiyang digunakan dan kewajaran estimasi akuntansi yang dibuatoleh manajemen, serta pengevaluasian atas penyajian laporankeuangan secara keseluruhan.

Kami yakin bahwa bukti audit yang telah kami peroleh adalahcukup dan tepat untuk menyediakan suatu basis bagi opiniaudit kami.

Opini

Menurut opini kami, laporan keuangan konsolidasian terlampirmenyajikan secara wajar, dalam semua hal yang material,posisi keuangan Perum BULOG dan Entitas Anaknya tanggal31 Desember 2014, serla kinerja keuangan dan arus kas untuktahun yang berakhir pada tanggal tersebut, sesuai denganStandar Akuntansi Keuangan di Indonesia.

Laporan atas Kepatuhan Terhadap PeraturanPerundangan-undangan dan Pengendalian Intern

Audit atas laporan keuangan Perum BULOG kami laksanakanberdasarkan Standar Audit yang ditetapkan oleh InstitutAkuntan Publik Indonesia dan Standar PemeriksaanKeuangan Negara yang ditetapkan oleh Badan PemeriksaKeuangan Republik Indonesia. Standar tersebutmengharuskan kami untuk mematuhi ketentuan etika serlamerencanakan dan melaksanakan audit untuk memperolehkeyakinan memadai tentang apakah laporan keuangankonsolidasian bebas dari kesalahan penyajian material.

Laporan lainnya atas kepatuhan Perum BULOG terhadapperaturan perundang-undangan dan pengendalian intern, kamilaksanakan berdasarkan Standar Pemeriksaan KeuanganNegara yang ditetapkan oleh Badan Pemeriksa KeuanganRepublik Indonesia. Laporan tersebut kami sampaikan secaraterpisah kepada Pemilik Modal, Dewan Pengawas dan Direksi.

KOSASIH, NURDIYAMAN,TJAHJO & REKANRegistered Public Accountants No. 630/KM.1/2009 (Head Office)Member Crowe Horwath International


An audit involves performing procedures to obtain auditevidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditors'judgment, including the assessment of the risks of materialmisstatement of the financial statements, whether due to fraudor error. In making those risk assessments, the auditorsconsider internal control relevant to the entity's preparationand fair presentation of the financial statements in order todesign audit procedures that are appropriate in thecircumstances, but not for the purpose of expressing anopinion on the effectiveness of the entity's internal control. Anaudit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness ofaccounting estimates made by management, as well asevaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for our auditopinion.

Opinion

In our opinion, the accompanying consolidated financialstatements present fairly, in all material respects, the financialposition of Perum BULOG and Subsidiary as of December 31,2014, and its financial performance and cash flows for the yearthen ended, in accordance with Indonesian FinancialAccounting Standards.

Report on Others Regulations and Internal ControlCompliance

Audit of Perum BULOG financial statements we conducted inaccordance with Standards on Auditing established by theIndonesian Institute of Certified Public Accountants and StateFinancial Audit Standards established by Audit Board of theRepublic of Indonesia. Those standards require that wecomply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether theconsolidated financial statements are free from materialmisstatement.

Our report on Perum BULOG compliance with the regulationsand internal control conducted base on State Financial AuditStandards established by Audit Board of the Republic ofIndonesia. The reports are submitted separately to the Ownerof Capital, Boards of Trustees and Directors.

Hal lain

Audit kami atas laporan keuangan konsolidasian Perum Bulogdan Entitas Anaknya tanggal 31 Desember 2014, serta untuktahun yang berakhir pad a tang gal tersebut terlampir,dilaksanakan dengan tujuan untuk merumuskan suatu opiniatas laporan keuangan konsolidasian tersebut secarakeseluruhan. Informasi keuangan Perum Bulog (Entitas lnduk)terlampir, yang terdiri dari laporan posisi keuangan tar;Jggal31 Desember 2014, serta laporan laba rugi komprehensif,laporan perubahan ekuitas, dan laporan arus kas untuk tahunyang berakhir pada tang gal tersebut (secara kolektif disebutsebagai "Informasi Keuangan Entitas Induk") yang disajikansebagai informasi tam bah an terhadap laporan keuangankonsolidasian tersebut di atas, disajikan untuk tujuan analisistambahan dan bukan merupakan bag ian dari laporankeuangan konsolidasian tersebut diatas yang diharuskanmenurut Standar Akuntansi Keuangan di Indonesia. InformasiKeuangan Entitas Induk merupakan tanggung jawabmanajemen serta dihasilkan dari dan berkaitan secaralangsung dengan catatan akuntansi dan catatan lainnya yangmendasarinya yang digunakan untuk menyusun laporankeuangan konsolidasian tersebut di atas. Informasi KeuanganEntitas Induk telah menjadi objek prosedur audit yangditerapkan dalam audit atas laporan keuangan konsolidasiantersebut diatas berdasarkan Standar Audit yang ditetapkanoleh Institut Akuntan Publik Indonesia. Menurut opini kami,informasi keuangan Entitas Induk disajikan secara wajar,dalam semua hal yang material, berkaitan dengan laporankeuanqan konsolidasian tersebut di atas secara keseluruhan.

KOSASIH, NURDIYAMAN, TJAHJO & REKANRegistered PubticAccountants No, 630/KM.1/2009 (Head Office)Member Crowe Horwath Intemational


Other matter

Our audit of the accompanying consolidated financialstatements of Perum Bulog and its Subsidiary as of December31, 2014, and for the year then ended, was performed for thepurpose of forming an opinion on such consolidated financialstatements taken as a whole. The accompanying financialinformation of Perum Bulog (parent entity), which comprisesthe statement of financial position as of December 31, 2014,and the statement of comprehensive income, statement ofchanges in equity, and statement of cash flows for the yearthen ended (collectively referred to as the "Parent EntityFinancial tntormetion"), which is presented as supplementaryinformation to the above-mentioned consolidated financialstatements, is presented for the purposes of additionalanalysis and is not a required part of the above-mentionedconsolidated financial statements under Indonesian FinancialAccounting Standards. The Parent Entity Financial Informationis the responsibility of management and was derived from andrelates directly to the under/ying accounting and other recordsused to prepare the above-mentioned corsolidated financialstatements. The Parent Entity Financial Information has beensubjected to the auditing procedures applied in the audit of theabove-mentioned consolidated financial statements inaccordance with Standards on Auditing established by theIndonesian institute of Certified Public Accountants. In ouropinion, the Parent Entity Financial Information is fairly stated,in all material respects, in relation to the above-mentionedconsolidated financial statements taken as a whole.

RDIYAMAN, TJAHJO & REKAN

Izin Akunt

13 Pebruari 2015/February 13,2015

The original consolidated financial statements included herein are in the Indonesian language

Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan

The accompanying notes form an integral part of these consolidated financial statements

1

PERUSAHAAN UMUM BULOG DAN ENTITAS ANAK LAPORAN POSISI KEUANGAN KONSOLIDASIAN

Tanggal 31 Desember 2014 (Dinyatakan dalam Rupiah, kecuali dinyatakan lain)

PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of December 31, 2014 (Expressed in Rupiah, unless otherwise stated)

Catatan/ 2014 Notes 2013 ASET ASSETS ASET LANCAR CURRENT ASSETS Kas dan setara kas 2.502.988.091.071 2,4 3.264.634.481.092 Cash and cash equivalents Piutang usaha - setelah dikurangi Trade receivables - net of penyisihan penurunan nilai pada allowance for impairment losses 31 Desember 2014 of Rp 193,052,001,691 sebesar Rp 193.052.001.691 dan as of December 31 2014 sebesar Rp 189.039.068.327 pada and Rp 189,039,068,327 31 Desember 2013 952.945.320.481 2,5 280.618.011.296 as of December 31, 2013 Piutang lain-lain - setelah dikurangi Other receivables - net of penyisihan penurunan nilai pada allowance for impairment losses 31 Desember 2014 of Rp 48,064,179,874 sebesar Rp 48.064.179.874 dan as of December 31, 2014 and sebesar Rp 44.025.189.785 pada and Rp 44,025,189,785 31 Desember 2013 11.084.790.577 2,6 6.523.887.069 as of December 31, 2013 Uang muka 55.059.548.506 7 29.538.270.247 Advances Persediaan 11.031.392.573.519 2,8 13.897.330.932.739 Inventories Pajak dibayar di muka 1.630.301.606 2,17 6.405.727.526 Prepaid taxes Pendapatan masih harus diterima - 9 2.826.926.432 Accrued income Biaya dibayar di muka 2.668.070.746 2,10 2.524.402.801 Prepaid expenses Aset lancar lainnya 702.862.086.429 2,11 4.077.782.362.886 Other current assets TOTAL ASET LANCAR 15.260.630.782.935 21.568.185.002.088 TOTAL CURRENT ASSETS ASET TIDAK LANCAR NON-CURRENT ASSETS Aset tetap - setelah dikurangi Fixed assets - net of akumulasi penyusutan sebesar accumulated depreciation Rp 1.635.517.150.272 of Rp 1,635,517,150,272 pada 31 Desember 2014 as of December 31, 2014 dan Rp 1.625.435.912.458 and Rp 1,625,435,912,458 pada 31 Desember 2013 2.151.909.886.337 2,12 2.214.279.936.468 as of December 31, 2013 Properti investasi - setelah dikurangi Investment property - net of akumulasi penyusutan sebesar accumulated depreciation Rp 70.266.646.417 of Rp 70,266,646,417 pada 31 Desember 2014 as of December 31, 2014 dan Rp 67.640.476.807 and Rp 67,640,476,807 pada 31 Desember 2013 183.138.901.427 2,13 186.452.077.532 as of December 31, 2013 Aset pajak tangguhan 589.600.865.466 2,17 455.118.030.611 Deferred tax assets Taksiran tagihan pajak penghasilan 689.169.746.699 2,17 542.944.889.818 Estimated claim for tax refund Aset lain-lain 1.591.274.946.358 2,14 924.644.335.279 Other non-current assets TOTAL ASET TIDAK TOTAL NON-CURRENT LANCAR 5.205.094.346.287 4.323.439.269.708 ASSETS TOTAL ASET 20.465.725.129.222 25.891.624.271.796 TOTAL ASSETS




2

PERUSAHAAN UMUM BULOG DAN ENTITAS ANAK

LAPORAN POSISI KEUANGAN KONSOLIDASIAN (lanjutan)


PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(continued) As of December 31, 2014

(Expressed in Rupiah, unless otherwise stated) Catatan/ 2014 Notes 2013 LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang bank jangka pendek 12.940.816.604.866 2,15 13.425.193.835.943 Short-term bank loans Utang usaha 2,16,21 Trade payables Pihak ketiga 1.554.528.684.125 2.938.690.862.798 Third parties Pemerintah 1.142.777.128.274 1.142.777.128.274 Government Utang pajak 26.421.431.972 2,17 20.072.723.260 Taxes payable Biaya masih harus dibayar 242.804.148.020 2,18 88.045.215.018 Accrued expenses Uang muka penjualan 81.533.749.109 19 3.325.868.955.368 Sales advances Utang lancar lainnya 149.603.867 451.166.536 Other current liabilities TOTAL LIABILITAS JANGKA PENDEK 15.989.031.350.233 20.941.099.887.197 TOTAL CURRENT LIABILITIES LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Liabilitas imbalan kerja 43.856.187.423 2,20 58.778.222.233 Employee benefits liability Kekayaan negara yang belum State assets ditentukan statusnya 675.250.887.482 2,22 675.250.887.482 with undetermined status TOTAL LIABILITAS JANGKA TOTAL NON-CURRENT PANJANG 719.107.074.905 734.029.109.715 LIABILITIES TOTAL LIABILITAS 16.708.138.425.138 21.675.128.996.912 TOTAL LIABILITIES EKUITAS 2,23 EQUITY Modal Pemerintah 6.847.135.795.560 6.847.135.795.560 Government capital Defisit (3.099.151.834.103 ) (2.636.643.538.119) Deficit Ekuitas yang dapat diatribusikan kepada Equity attributable to pemilik entitas induk 3.747.983.961.457 4.210.492.257.441 owners of the parent Kepentingan non pengendali 9.602.742.627 6.003.017.443 Non controlling interest TOTAL EKUITAS 3.757.586.704.084 4.216.495.274.884 TOTAL EQUITY TOTAL LIABILITAS DAN TOTAL LIABILITIES AND EKUITAS 20.465.725.129.222 25.891.624.271.796 EQUITY




3

PERUSAHAAN UMUM BULOG DAN ENTITAS ANAK LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN

Tahun Yang Berakhir Pada Tanggal 31 Desember 2014


PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF COMPREHENSIVE

INCOME For the Year Ended December 31, 2014

(Expressed in Rupiah, unless otherwise stated) Catatan/ 2014 Notes 2013 PENDAPATAN 26.562.712.336.051 2,24 28.890.079.235.159 REVENUES HARGA POKOK PENDAPATAN 22.622.404.274.109 2,25 25.440.431.805.072 COST OF REVENUES LABA BRUTO 3.940.308.061.942 3.449.647.430.087 GROSS PROFIT BEBAN USAHA 2,26 OPERATING EXPENSES Umum dan administrasi 1.601.567.540.782 1.501.555.692.596 General and administrative Eksploitasi 564.435.953.889 240.052.925.635 Exploitation Penjualan 312.725.882.890 409.007.927.326 Selling Total Beban Usaha 2.478.729.377.561 2.150.616.545.557 Total Operating Expenses LABA USAHA 1.461.578.684.381 1.299.030.884.530 INCOME FROM OPERATIONS PENDAPATAN (BEBAN) LAIN-LAIN 2,27 OTHER INCOME (EXPENSE) Penghasilan keuangan 185.481.715.132 150.829.680.290 Finance income Pendapatan lain-lain 295.046.001.165 485.158.100.736 Other income Biaya keuangan (1.897.021.513.597 ) (1.549.467.373.280) Finance costs Beban lain-lain (615.259.872.735 ) (861.777.078.906) Other expenses Beban Lain-lain Neto (2.031.753.670.035 ) (1.775.256.671.160) Other Expenses - Net RUGI SEBELUM MANFAAT LOSS BEFORE INCOME (BEBAN) PAJAK PENGHASILAN (570.174.985.654 ) (476.225.786.630) TAX BENEFIT (EXPENSE) MANFAAT (BEBAN) 2,17 INCOME TAX BENEFIT PAJAK PENGHASILAN (EXPENSE) Kini (23.216.420.000 ) (4.616.937.500) Current Tangguhan 134.482.834.854 138.787.165.872 Deferred Total Manfaat Pajak Penghasilan 111.266.414.854 134.170.228.372 Income Tax Benefit - Net RUGI NETO (458.908.570.800 ) (342.055.558.258) NET LOSS PENDAPATAN KOMPREHENSIF OTHER COMPREHENSIVE LAIN - - INCOME TOTAL RUGI TOTAL COMPREHENSIVE KOMPREHENSIF (458.908.570.800) (342.055.558.258) LOSS TOTAL RUGI DAN TOTAL RUGI NET LOSS/TOTAL KOMPREHENSIF YANG DAPAT COMPREHENSIVE LOSS DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO: Pemilik entitas induk (462.508.295.984) (342.762.575.701) Owners of the parent Kepentingan non pengendali 3.599.725.184 707.017.443 Non controlling interest (458.908.570.800) (342.055.558.258)


Catatan atas laporan leuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan


4

PERUSAHAAN UMUM BULOG DAN ENTITAS ANAKLAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN



PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF

CHANGES IN EQUITY For the Year Ended December 31, 2014


Catatan/ Notes

Modal Pemerintah/ Government

Capital Defisit/ Deficit Total/ Total

Kepentingan non Pengendali/ Non

controlling interest

Ekuitas - Neto/ Equity - Net

Saldo 1 Januari 2013

6.847.135.795.560

(2.293.880.962.418)

4.553.254.833.142 -

4.553.254.833.142 Balance as of January 1, 2013

Setoran modal kepentingan non pengendali - - -

5.296.000.000 5.296.000.000

Non-controlling interest capital contribution

Total rugi komprehensif -

(342.762.575.701)

(342.762.575.701)

707.017.443

(342.055.558.258) Total comprehensive loss

Saldo 31 Desember 2013 23

6.847.135.795.560

(2.636.643.538.119)

4.210.492.257.441

6.003.017.443

4.216.495.274.884 Balance as of December 31, 2013

Total rugi komprehensif

(462.508.295.984)

(462.508.295.984)

3.599.725.184 (458.908.570.800) Total comprehensive loss

Saldo 31 Desember 2014 23

6.847.135.795.560 (3.099.151.834.103) 3.747.983.961.457 9.602.742.627 3.757.586.704.084 Balance as of December 31, 2014


PERUSAHAAN UMUM BULOG DAN ENTITAS ANAK LAPORAN ARUS KAS KONSOLIDASIAN



PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2014


Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan


5

Catatan/ 2014 Notes 2013

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM OPERASI OPERATING ACTIVITIES Rugi sebelum manfaat beban pajak penghasilan (570.174.985.654) (476.225.786.630) Loss before income tax Penyesuaian rugi menjadi Adjustment of loss before income tax kas neto yang diperoleh to cash used in dari aktivitas operasi: operating activities: Penyusutan aset tetap 106.218.171.944 12 148.579.292.671 Depreciation of fixed assets Depreciation of Penyusutan properti investasi 1.621.521.690 13 1.309.477.824 investment property Penyisihan penurunan nilai Provision for impairment losses piutang usaha 9.262.634.946 26 24.856.728.758 of trade receivable Beban imbalan kerja 40.917.427.107 20 44.723.905.839 Employee benefits expenses Pembayaran imbalan kerja (55.839.461.917 ) 20 (36.381.406.989) Employee benefits payment Laba penjualan aset (202.182.591 ) 12 10.911.725.006 Gain on sales of assets Bantuan Pemerintah yang belum State assets with ditetapkan statusnya - 22 (81.506.122.388) undetermined status Perubahan aktivitas operasi Changes in operating dalam aset dan liabilitas: assets and liabilities: Piutang usaha (672.327.309.185 ) 196.128.405.658 Trade receivables Piutang lain-lain (4.560.903.508 ) (2.309.245.924) Other receivables Uang muka (25.521.278.260 ) 551.542.836 Advances Persediaan 2.865.938.359.221 448.120.068.164 Inventories Pendapatan yang masih harus diterima 2.826.926.432 (220.251.913) Accrued income Biaya dibayar di muka (143.667.944 ) 4.874.534.369 Prepaid expenses Pajak dibayar di muka 4.775.425.920 (190.533.348.560) Prepaid taxes Aset lancar lainnya 3.374.920.276.449 1.022.185.393.144 Other current assets Aset lain-lain (666.630.611.079 ) 184.927.788.656 Other non-current assets Utang usaha (1.384.162.178.672 ) 303.267.615.526 Trade payables Uang muka penjualan (3.244.335.206.259 ) (1.574.315.453.867) Sales advances Utang pajak 6.348.708.713 (45.073.837.817) Taxes payable Biaya yang masih harus dibayar 154.758.933.002 10.169.759.270 Accrued expenses Utang lancar lainnya (301.562.665 ) 64.157.047 Other current liabilities Tagihan pajak penghasilan (146.224.856.880 ) - Claim for tax refund Pembayaran pajak penghasilan Payment for corporate badan (13.212.170.176 ) (4.616.937.500) income tax

Kas Neto Digunakan Untuk Net Cash Used in Aktivitas Operasi (216.047.989.366 ) (10.511.996.820) Operating Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING INVESTASI ACTIVITIES Perolehan aset tetap (46.662.828.624 ) 12 (89.580.949.659) Acquisition of fixed assets Penerimaan penjualan Proceeds from sale aset tetap 3.093.467.139 12 10.578.282.372 of fixed assets

Kas Neto Digunakan Untuk Net Cash Used in Aktivitas Investasi (43.569.361.485 ) (79.002.667.287) Investing Activities


PERUSAHAAN UMUM BULOG DAN ENTITAS ANAK LAPORAN ARUS KAS KONSOLIDASIAN



PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARY CONSOLIDATED STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2014


Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian secara keseluruhan


6

Catatan/ 2014 Notes 2013

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING PENDANAAN ACTIVITY Penerimaan (pembayaran) Receipt from (payment of) dari utang bank (484.377.231.078 ) 767.752.852.814 bank loans

PENGARUH PERUBAHAN EFFECT OF FOREIGN SELISIH KURS KAS DAN EXCHANGE IN CASH SETARA KAS (17.651.808.092) - AND CASH EQUIVALENT

KENAIKAN (PENURUNAN) NET INCREASE (DECREASE) NETO SELURUH IN CASH AND CASH KAS DAN SETARA KAS (761.646.390.021 ) 678.238.188.707 EQUIVALENTS KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AWAL TAHUN 3.264.634.481.092 2.586.396.292.385 AT BEGINNING OF THE YEAR

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AKHIR TAHUN 2.502.988.091.071 4 3.264.634.481.092 AT END OF THE YEAR


CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 Desember 2014

Dan Tahun Yang Berakhir Pada Tanggal Tersebut (Dinyatakan dalam Rupiah, kecuali dinyatakan lain)


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

As of December 31, 2014 And For the Year Then Ended


7

1. UMUM 1. GENERAL

Pendirian Perusahaan The Perum BULOG’s Establishment

Perusahaan Umum BULOG (“BULOG”) pertama kali dibentuk berdasarkan Keputusan Presidium Kabinet Nomor 114/U/KEP/5/1967 tanggal 10 Mei 1967, terakhir dengan Keputusan Presiden No. 103 Tahun 2001 tanggal 13 September 2001, sebagai Lembaga Pemerintah Non Departemen (LPND). BULOG berada di bawah dan bertanggung jawab langsung kepada Presiden Republik Indonesia

Perusahaan Umum BULOG ("BULOG") was established by Decree of the Presidium Cabinet Decision No. 114/U/KEP/5/1967 dated May 10, 1967, recently by presidential decree No. 103 of 2001 dated September 13, 2001, as a Non-Departmental Government Institution (LPND). BULOG is under and accountable directly to the President of the Republic of Indonesia

Sesuai dengan Keputusan Presiden No. 103 Tahun 2001 tanggal 13 September 2001 Pasal 40, BULOG mempunyai tugas melaksanakan tugas pemerintah dibidang manajemen logistik sesuai dengan ketentuan peraturan perundang-undangan yang berlaku.

According to presidential decree No.103 of 2001 dated September 13, 2001 Article 40 of the President, BULOG has the task of carrying out government duties in the field of logistic management in accordance with applicable laws and regulations.

Pada tanggal 20 Januari 2003, LPND BULOG berubah

statusnya menjadi Perusahaan Umum (Perum) BULOG (selanjutnya disebut “Perum BULOG”) berdasarkan Peraturan Pemerintah No. 7 Tahun 2003 tentang Pendirian Perusahaan Umum BULOG dan Peraturan Pemerintah No. 61 Tahun 2003 tentang Perubahan atas PP No. 7 Tahun 2003 pasal 70 dan 71.

On January 20, 2003, LPND BULOG changed status to Perusahaan Umum (Perum) BULOG (hereinafter "Perum BULOG") based on Government Regulation. No. 7 year 2003 on establishment of Perusahaan Umum BULOG and Government Regulation No. 61 year 2003 on Amendment of PP No. 7 year 2003 Articles 70 and 71

Maksud dan Tujuan Purpose and Objectives

Sesuai dengan PP No. 7 Tahun 2003, maksud dan tujuan

Perum BULOG adalah sebagai berikut: In accordance with the PP No. 7 In 2003, Perum Bulog

purpose and objectives are as follows:

1. Sifat usaha Perum BULOG adalah menyediakan pelayanan bagi kemanfaatan umum dan sekaligus memupuk keuntungan berdasarkan prinsip pengelolaan Perum BULOG.

2. Maksud pendirian Perum BULOG adalah:

a. Untuk menyelenggarakan usaha logistik pangan

pokok yang bermutu dan memadai bagi pemenuhan hajat hidup orang banyak.

b. Dalam hal tertentu melaksanakan tugas-tugas tertentu yang diberikan Pemerintah dalam pengamanan harga pangan pokok, pengelolaan cadangan pangan Pemerintah dan distribusi pangan pokok kepada golongan masyarakat tertentu, khususnya pangan pokok beras dan pangan pokok lainnya yang ditetapkan oleh Pemerintah dalam rangka ketahanan pangan.

3. Tujuan Perum BULOG adalah turut serta membangun ekonomi nasional khususnya dalam rangka pelaksanaan program pembangunan nasional di bidang pangan.

1. The nature of business Perum Bulog is providing services for public benefit as well as to make profit based on Perum BULOG principles.

2. The purpose of the establishment of Perum Bulog is:

a. To organize logistics business for basic food that have quality and adequate to meet public needs.

b. In some cases, carry out specific assignment given by the Government in safeguarding basic food prices, management of the Government's food reserves and distribution of basic foods to specific communities, particularly basic food rice and other basic foods set by the Government in the framework of food security.

3. The purpose of Perum BULOG is to participate in

building national economy especially in the implementation of national development programs in the food sector.

Berdasarkan PP No. 7 Tahun 2003 Pasal 8, disebutkan bahwa untuk mencapai maksud dan tujuan tersebut, Perum BULOG menyelenggarakan kegiatan usaha-usaha logistik pangan pokok serta usaha lainnya yang dapat menunjang tercapainya maksud dan tujuan Perum BULOG.

Based on the PP No. 7 Year 2003 Section 8, stated that in order to achieve these purposes and objectives, Perum Bulog conducts basic food logistics business and other business that can support the Perum BULOG purpose and objectives.








8

1. UMUM (lanjutan) 1. GENERAL (continued)

Maksud dan Tujuan (lanjutan) Purpose and Objectives (continued)

Lebih lanjut, dalam Pasal 9 disebutkan bahwa untuk mendukung pembiayaan kegiatan dalam rangka mencapai maksud dan tujuan Perum BULOG, dengan persetujuan Menteri Keuangan Republik Indonesia, Perum BULOG dapat:

Furthermore, in Article 9 states that to support funding activities in order to achieve the objective Perum BULOG, with the approval of the Minister of Finance of the Republic of Indonesia, Perum BULOG can:

1. Melakukan kerjasama usaha atau patungan (joint

venture) dengan badan usaha lain. 2. Membentuk anak perusahaan. 3. Melakukan penyertaan modal dalam badan usaha

lain.

1. Conduct cooperation or joint venture with other business entities.

2. Establish a subsidiary. 3. Invest in other business entity.

Selain itu, berdasarkan Instruksi Presiden (Inpres) No. 2 Tahun 2005 tanggal 2 Maret 2005 tentang Kebijakan Perberasan Nasional dalam instruksi No. 46 disebutkan bahwa pelaksanaan pembelian gabah oleh pemerintah secara nasional dilakukan oleh Perum BULOG.

In addition, based on Presidential Instruction (Inpres) No. 2 Year 2005 dated March 2, 2005 concerning National Rice Policy instruction No. 46 stated that the implementation of grain purchases by the national government is to be conducted by the Perum BULOG.

Perum BULOG berdomisili di Jakarta dan memiliki 26

Divisi Regional yang tersebar di Wilayah Indonesia. Kantor pusat Perum BULOG beralamat di Jl. Gatot Subroto No. 49 Jakarta Selatan 12950.

Perum BULOG is domiciled in Jakarta and has 26 regional divisions dispersed in the Region of Indonesia. Its head office is located at Jl. Gatot Subroto No.49 South Jakarta 12950.

Entitas Anak The Subsidiary

Berdasarkan akta notaris Muchlis Patahan, SH, No. 46

tanggal 31 Januari 2013 Perum BULOG mendirikanPT Jasa Prima Logistik Bulog (JPL). Akta pendirian tersebut telah disahkan Menteri Hukum dan Hak Asasi Manusia, dalam surat keputusan No. AHU-0021736.AH.01.09.Tahun 2013 tanggal 13 Maret 2013. Modal dasar Entitas Anak berjumlahRp 105.930.000.000, masing-masing mempunyai nilai nominal Rp 1.000.000. Jumlah saham yang ditempatkan dan disetor penuh adalah sebesarRp 26.483.000.000. Perum BULOG mengambil bagian sebanyak Rp 25.158.850.000, Kopelindo sebanyakRp 1.059.320.000 dan Yabinstra sebanyakRp 264.830.000.

Based on notarial deed No. 46 dated January 31, 2013 of Muchlis Patahan, SH, Perum BULOG established PT Jasa Prima Logistik Bulog (JPL). The deed of establishment was approved by the Ministry of Law and Human Rights of The Republic of Indonesia in its decision letter No. AHU-0021736.AH.01.09.Year 2013 dated March 13, 2013. The authorized capital of its Subsidiary is Rp 105,930,000,000 shares with nominal value of Rp 1,000,000 per share. The issued and fully paid capital stock amounted to Rp 26,483,000,000. Perum BULOG subscribed for Rp 25,158,850,000, Kopelindo subscribed for Rp 1,059,320,000 and Yabinstra subscribed for Rp 264,830,000.

Pada tanggal 31 Desember 2014 dan 2013, susunan Entitas Anak adalah sebagai berikut:

As of December 31, 2014 and 2013 the Subsidiary’s details are as follows:

Nama Entitas Anak/

Subsidiary Name

Lokasi/ Domicile

Tanggal beroperasi/Start of

Commercial Operations

Kegiatan Usaha/Business

Activities

Persentase kepemilikan/Percentage

of ownership

Total aset (sebelum eliminasi)/Total assets (before elimination)

2014 2013 2014 2013

Kepemilikan langsung/Direct ownership

PT Jasa Prima Logistik

Jakarta 1 September 2013/September 1,

2013

Jasa angkutan/Freight

services

95% 95% 237.069.375.977 209.789.254.750








9


Direksi dan Dewan Pengawas Perum BULOG Directors and Board of Trustess Perum BULOG

Berdasarkan Keputusan Menteri Negara Badan

Usaha Milik Negara Nomor: SK-388/MBU/2012 tanggal 2 Nopember 2012 dan diperbarui dengan surat Nomor: SK-101/MBU/2014 tanggal 9 Mei 2014, Pemberhentian, Pengalihan Penugasan dan Pengangkatan Anggota-Anggota Direksi Perum BULOG, susunan Dewan Pengawas dan Direksi Perum BULOG adalah sebagai berikut:

Based on the Decree of State Enterprises MinisterNo. SK-388/MBU/2012 dated November 2, 2012 and renewed with the letter No: SK-101/MBU/2014 dated May 9, 2014 regarding the Dismissal and Appointment of Members of the Board of Directors, the composition of the Boards of Trustees and Directors of the Perum BULOG are as follows:

31 Desember 2014/ 31 Desember 2013/ December 31, 2014 December 31, 2013

Dewan Pengawas/ Board of Trustees Ketua Dewan Pengawas/ Chairman of the Supervisory Board Harianto Harianto Dewan Pengawas/Trustee Purwiyanto Ardiansyah Parman Dewan Pengawas/Trustee Harbrinderjit Singh Dillon Harbrinderjit Singh Dillon

Dewan Pengawas/Trustee Sholihin Hidayat Sholihin Hidayat Dewan Pengawas/Trustee Johanes Budi Raharjo Johanes Budi Raharjo Direksi/ Board of Directors Direktur Utama/ President Director Sutarto Alimoeso Sutarto Alimoeso Direktur Keuangan/ Financial Director Budi Purwanto Budi Purwanto Direktur Pelayanan Publik/ Director of Public Services Agusdin Fariedh Agusdin Fariedh

Direktur Perencanaan dan Pengembangan Usaha/ Director of Planning and Business Development Rito Angky Pratomo Rito Angky Pratomo Direktur Umum dan SDM / General Affairs

and Human Resources Abdul Karim Abdul Karim

Jumlah kompensasi yang diterima Dewan Pengawas dan Direksi Perum BULOG dan Entitas Anak adalah sebagai berikut:

The amount of compensation received by the members of Boards of Trustees and Directors of the Perum BULOG and Subsidiary are as follows:

2014 2013

Dewan Pengawas 7.683.767.045 3.036.000.000 Board of Trustees Direksi 21.941.279.871 9.229.133.488 Board of Directors

Total 29.625.046.916 12.265.133.488 Total

Susunan Organisasi Chart of Organization

Perum BULOG dipimpin oleh Direktur Utama yang membawahi empat Direktur, yaitu Direktur Keuangan, Direktur Pelayanan Publik, Direktur Perencanaan dan Pengembangan Usaha dan Direktur Umum dan SDM, dimana masing-masing Direktur tersebut membawahi beberapa Divisi. Fungsi pengawasan dilaksanakan oleh Satuan Pengawasan Intern (SPI) Perum BULOG yang bertanggung jawab kepada Direktur Utama. Untuk pelaksanaan kegiatan operasional di daerah-daerah, dibentuk Divisi Regional (Divre) yang dipimpin oleh seorang Kepala Divisi Regional. Setiap Divre (kecuali Divre Bali dan Yogyakarta) memiliki sub unit pelaksana operasional, yaitu Sub Divisi Regional (Sub Divre) yang dipimpin oleh seorang Kepala Sub Divisi Regional.

Perum BULOG is headed by a President Director who oversees four Directors, the Director of Finance, Director of Public Services, Director of Planning and Business Development and Director of General and Human Resources, where such Directors is in charge of several divisions. Oversight function is exercised by the Internal Audit Unit (IAU) of the Perum BULOG that is responsible to the President Director. For the implementation of operational activities in the areas, Regional Division (Divre) is established led by a Regional Division Head. Each Regional Division (except Divre Bali and Yogyakarta) have sub operational implementation unit, the Sub Regional Division (Sub Divre) is led by a Regional Sub Division Head.

Jumlah karyawan Perum BULOG dan Entitas Anak pada tanggal 31 Desember 2014 dan 2013 masing-masing adalah 3.883 dan 4.095 orang (tidak diaudit).

The number of employees of the Perum BULOG and Subsidiary as of December 31, 2014 and 2013 are 3,883 and 4,095, respectively (unaudited).








10


Susunan Organisasi (lanjutan) Chart of Organization (continued)

1. Keputusan Direksi (KD) Nomor

KD-603/DS200/12/2008 tanggal 30 Desember 2008 dibentuk unit bisnis jasa survey dan pemberantasan hama (UB. Jastasma).

2. Peraturan Direksi (PD) Nomor PD-10/DS200/08/2013

tanggal 20 Agustus 2013 dibentuk unit bisnis optimalisasi aset (UB. Opaset).


tanggal 29 Juni 2012 dibentuk unit bisnis pengelolaan gabah dan beras (UB. PGB)


tanggal 29 Juni 2012 dibentuk Unit Bisnis Bulogmart.

Keempat unit bisnis tersebut berada dibawah pembinaan dan bertanggung jawab langsung kepada Direktur Perencanaan dan Pengembangan Usaha.

1. Decision of the Directors No. KD-603/DS200/12/2008 dated December 30, 2008 regarding establishment of survey services and pest control business unit (UB. Jastasma).

2. Regulation from Directors No. PD-10/DS200/08/2013

dated August 20, 2013 regarding establishment of asset optimization business unit (UB. Opaset).

3. Regulation from Directors No. PD-11/DS200/06/2012

dated June 29, 2012 to establishment of grain and rice processing business unit (UB. PGB).

4. Regulation from Directors No. PD-12-DS200-06-2012

dated June 29, 2012 regarding establishment of bulogmart business unit.

The four business unit are under the supervision and are directly responsible to the Director of Planning and Business Development

PENYELESAIAN LAPORAN KEUANGAN

KONSOLIDASIAN COMPLETION OF THE CONSOLIDATED FINANCIAL

STATEMENTS

Manajemen Perum BULOG bertanggung jawab atas penyusunan laporan keuangan konsolidasian yang telah diselesaikan pada tanggal 13 Pebruari 2015.

Perum BULOG’s management is responsible for the preparation of these consolidated financial statements that have been completed and authorized for issue on February 13, 2015.

Dasar Penyajian Laporan Keuangan Konsolidasian Basis of preparation of consolidated financial

statements Laporan keuangan konsolidasi Perum BULOG dan Entitas Anak telah disusun sesuai dengan Standar Akuntansi Keuangan Indonesia ("SAK"), yang terdiri dari Pernyataan Standar Akuntansi Keuangan ("PSAK") dan Interpretasi Pernyataan Standar Akuntansi Keuangan ("ISAK" ) yang dikeluarkan oleh Dewan Standar Akuntansi Keuangan dari Ikatan Akuntan Indonesia ("DSAK").

The consolidated financial statements Perum BULOG and its Subsidiary have been prepared in accordance with Indonesian Financial Accounting Standards (“SAK”), which comprise the Statement of Financial Accounting Standards (“PSAK”) and Interpretations of Statement of Financial Accounting Standard (“ISAK”) issued by the Financial Accounting Standards Board of the Indonesian Institute of Accountants (“DSAK”).

Kebijakan akuntansi yang diterapkan dalam penyusunan laporan keuangan konsolidasian sesuai dengan yang dibuat dalam penyusunan laporan keuangan konsolidasian Perum BULOG untuk tahun yang berakhir 31 Desember 2013.

The accounting policies adopted in the preparation of the consolidated financial statements are consistent with those made in the preparation of the Perum BULOG consolidated financial statements for the year ended December 31, 2013.

Laporan keuangan konsolidasian disusun berdasarkan dasar akrual dengan menggunakan konsep harga perolehan, kecuali beberapa akun tertentu disusun berdasarkan pengukuran lain sebagaimana diuraikan dalam kebijakan akuntansi masing-masing akun tersebut.

The consolidated financial statements have been prepared on the accrual basis using the historical cost basis of accounting, except for certain accounts which are measured on the bases described in the related accounting policies for those accounts.

Laporan arus kas konsolidasian disusun dengan menggunakan metode tidak langsung dengan mengelompokkan arus kas atas dasar kegiatan operasi, investasi dan pendanaan.

The consolidated statements of cash flows are prepared based on the indirect method by classifying cash flows on the basis of operating, investing and financing activities.








11

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Dasar Penyajian Laporan Keuangan Konsolidasian Basis of preparation of consolidated financial

statements

Mata uang penyajian yang digunakan dalam penyusunan laporan keuangan adalah Rupiah Indonesia, yang merupakan mata uang fungsional Perum BULOG dan Entitas Anak.

The presentation currency used in the preparation of the financial statements is the Indonesian Rupiah, which is the Perum BULOG and its Subsidiary’s functional currency.

Penyusunan laporan keuangan konsolidasian sesuai dengan Standar Akuntansi Keuangan di Indonesia mengharuskan penggunaan estimasi akuntansi kritis tertentu. Hal ini juga mengharuskan manajemen untuk menggunakan pertimbangan dalam proses penerapan kebijakan akuntansi Perum BULOG dan Entitas Anak. Area yang melibatkan tingkat yang lebih tinggi dari penilaian atau kompleksitas, atau area di mana asumsi dan estimasi yang signifikan terhadap laporan keuangan konsolidasian diungkapkan dalam Catatan 3.

The preparation of consolidated financial statements in conformity with Indonesian Financial Accounting Standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Perum BULOG and its Subsidiary’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3.

Prinsip - Prinsip Konsolidasian Principles of consolidation Laporan keuangan Entitas Anak disusun untuk periode pelaporan yang sama dengan Perusahaan Induk. Kebijakan akuntansi yang dipakai dalam penyajian laporan keuangan konsolidasian telah diterapkan secara konsisten oleh Perum BULOG dan Entitas Anak, kecuali dinyatakan lain.

The financial statements of the subsidiary are prepared for the same reporting period as the Parent Company. The accounting policies adopted in preparing the consolidated financial statements have been consistently applied by Perum BULOG and its Subsidiary, unless otherwise stated.

Laporan keuangan konsolidasian meliputi laporan keuangan Entitas Anak sebagaimana dimaksud dalam Catatan 1, dimana Perum BULOG memiliki kepemilikan saham lebih dari 50%, secara langsung.

The consolidated financial statements include the financial statements of its Subsidiary as mentioned in Note 1, in which Perum BULOG directly owns more than 50% share ownership.

Seluruh saldo akun dan transaksi yang material, termasuk keuntungan atau kerugian yang belum direalisasi, jika ada, dieliminasi untuk mencerminkan posisi keuangan dan hasil operasi Perum BULOG dan Entitas Anak sebagai satu kesatuan usaha.

All material intercompany accounts and transactions, including unrealized gains or losses, if any, are eliminated to reflect the financial position and the results of operations of Perum BULOG and its Subsidiary as one business entity.

Entitas Anak dikonsolidasi secara penuh sejak tanggal akuisisi, yaitu tanggal Perum BULOG dan Entitas Anak memperoleh pengendalian, sampai dengan tanggal Perum BULOG kehilangan pengendalian. Pengendalian dianggap ada ketika Perum BULOG memiliki secara langsung atau tidak langsung melalui Entitas Anak, lebih dari setengah kekuasaan suara suatu entitas.

Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Perum BULOG and its Subsidiary obtains control, and continue to be consolidated until the date when such control ceases. Control is presumed to exist if Perum BULOG owns, directly or indirectly through subsidiary, more than half of the voting power of an entity.

Rugi Entitas Anak yang tidak dimiliki secara penuh diatribusikan pada Kepentingan Non Pengendali (KNP) bahkan jika hal ini mengakibatkan KNP mempunyai saldo defisit.

Losses within a subsidiary are attributed to the non-controlling interest (NCI) even if that results in a deficit balance for the NCI.








12

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING

(lanjutan) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(Continued) Dasar Penyajian Laporan Keuangan Konsolidasian

(lanjutan) Basis of Preparation of the Consolidated Financial

Statements (continued)

Dalam kasus kehilangan kontrol atas Entitas Anak, Perum BULOG:

In case of loss of control over a Subsidiary, Perum BULOG:

a. menghentikan pengakuan aset (termasuk goodwill)

dan liabilitas entitas anak; b. menghentikan pengakuan jumlah tercatat setiap

KNP; c. menghentikan pengakuan akumulasi selisih

penjabaran, yang dicatat di ekuitas, bila ada; d. mengakui nilai wajar dari penerimaan; e. mengakui nilai wajar dari setiap investasi yang

dipertahankan; f. mengakui setiap surplus atau defisit dalam laporan

laba rugi, dan g. mereklasifikasi bagian induk atas komponen yang

sebelumnya diakui sebagai pendapatan komprehensif lain pada laporan laba rugi atau laba ditahan, yang sesuai.

a. derecognizes the assets (including goodwill) and liabilities of the Subsidiary;

b. derecognizes the carrying amount of any NCI; c. derecognizes the cumulative translation

differences, recorded in equity, if any; d. recognizes the fair value of the consideration

received; e. recognizes the fair value of any investment

retained; f. recognizes any surplus or deficit in profit or loss;

and g. reclassifies the parent’s share of components

previously recognized in other comprehensive income to profit or loss or retained earnings, as appropriate.

Kepentingan Nonpengendali (KNP) mencerminkan bagian atas laba atau rugi dan aset bersih dari Entitas Anak yang tidak dapat diatribusikan secara langsung maupun tidak langsung pada Perum BULOG, yang masing-masing disajikan dalam laporan laba rugi komprehensif konsolidasian dan dalam ekuitas pada laporan posisi keuangan konsolidasian, terpisah dari bagian yang dapat diatribusikan kepada pemilik entitas induk.

NCI represents the portion of the profit or loss and net assets of the Subsidiary not attributable directly or indirectly to Perum BULOG, which are presented in the consolidated statements of comprehensive income and under the equity section of the consolidated statements of financial position, respectively, separately from the corresponding portion attributable to the owner of the parent entity.

Kas dan setara kas

Kas dan setara kas dalam laporan posisi keuangan terdiri dari kas, bank dan deposito jangka pendek yang jatuh tempo dalam waktu tiga bulan atau kurang, tidak dibatasi penggunaannya dan tidak dijadikan jaminan.

Untuk tujuan laporan arus kas Perum BULOG dan Entitas Anak, kas dan setara kas terdiri dari kas, bank dan deposito jangka pendek seperti dijelaskan di atas.

Cash and cash equivalents

Cash and cash equivalents in the statements of financial position comprise cash n hand and in banks and short -term deposits with a maturity of three months or less, are not restricted and are not used as collateral.

For the purpose of the Perum BULOG and its Subsidiary’s statement of cash flows, cash and cash equivalents consist of cash and short-term deposits as defined above.








13

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING

(lanjutan) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(Continued)

Instrumen keuangan Financial instruments

Klasifikasi Classification

(i) Aset keuangan (i) Financial assets

Aset keuangan diklasifikasikan sebagai aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi, pinjaman yang diberikan dan piutang, investasi dimiliki hingga jatuh tempo, atau aset keuangan tersedia untuk dijual, jika sesuai. Klasifikasi ini tergantung dari tujuan perolehan aset keuangan tersebut diperoleh. Perum BULOG dan Entitas Anak menentukan klasifikasi aset keuangan tersebut pada pengakuan awal.

Financial assets are classified as financial assets at fair value through profit or loss, loans and receivables, held to maturity investments, or available for sale financial assets, as appropriate. The classification depends on the purpose for which the financial assets were acquired. Perum BULOG and its Subsidiary determine the classification of its financial assets at initial recognition.

Aset keuangan Perum BULOG dan Entitas Anak terdiri dari kas dan setara kas, piutang usaha, piutang lain-lain, pendapatan masih harus diterima, aset lancar lainnya dan deposito yang dijaminkan diklasifikasikan sebagai pinjaman yang diberikan dan piutang.

Perum BULOG and its Subsidiary’s financial assets consist of cash and cash equivalents, trade receivables, other receivables, accrued income, other current assets and restricted deposits classified as loans and receivables.

(ii) Liabilitas keuangan (ii) Financial liabilities

Liabilitas keuangan diklasifikasikan sebagai liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi dan liabilitas keuangan yang diukur dengan biaya perolehan diamortisasi. Perum BULOG dan Entitas Anak menentukan klasifikasi liabilitas keuangan pada saat pengakuan awal.

Financial liabilities are classified as financial liabilities at fair value through profit or loss or financial liabilities measured at amortized cost, as appropriate. Perum BULOG and its Subsidiary determine the classification of its financial liabilities at initial recognition.

Liabilitas keuangan Perum BULOG dan Entitas Anak terdiri dari utang bank, utang usaha, dan biaya masih harus dibayar diklasifikasikan sebagai liabilitas keuangan yang dicatat berdasarkan biaya perolehan diamortisasi.

Perum BULOG and its Subsidiary’s financial liabilities consist of bank loans, trade payables and accrued expenses classified as financial liabilities measured at amortized cost.

Pengakuan dan pengukuran Recognition and measurement (i) Aset keuangan (i) Financial assets

Aset keuangan pada awalnya diakui sebesar nilai wajarnya ditambah, dalam hal investasi yang tidak diukur pada nilai wajar melalui laba rugi, biaya transaksi yang dapat diatribusikan secara langsung. Pengukuran aset keuangan setelah pengakuan awal tergantung pada klasifikasi aset.

Financial assets are recognized initially at fair value, plus, in the case of financial assets not at fair value through profit or loss, directly attributable transaction costs. The subsequent measurement of financial assets depends on their classification.

Pinjaman yang diberikan dan piutang adalah aset keuangan non derivatif dengan pembayaran tetap atau telah ditentukan dan tidak mempunyai kuotasi di pasar aktif. Setelah pengakuan awal, aset keuangan tersebut dicatat pada biaya perolehan diamortisasi menggunakan metode suku bunga efektif kecuali jika dampak diskonto tidak material, maka dinyatakan pada biaya perolehan. Keuntungan atau kerugian diakui pada laporan laba rugi ketika aset keuangan tersebut dihentikan pengakuannya atau mengalami penurunan nilai, dan melalui proses amortisasi.

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Subsequent to initial recognition, such financial assets are carried at amortized cost using the effective interest rate method less impairment, except for those assets in which the interest calculation is not material. Gains or losses are recognized in profit or loss when the financial assets are derecognized or impaired, as well as through the amortization process.








14

2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING (lanjutan)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Instrumen keuangan (lanjutan) Financial instruments (Continued)

Pengakuan dan pengukuran (lanjutan) Recognition and measurement (continued)


Liabilitas keuangan diakui pada awalnya sebesar nilai wajar, dan, dalam hal pinjaman dan utang, termasuk biaya transaksi yang dapat diatribusikan secara langsung.

Financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, inclusive of directly attributable transaction costs.

Liabilitas keuangan yang diukur pada biaya perolehan diamortisasi, selanjutnya setelah pengakuan awal diukur pada biaya perolehan diamortisasi, menggunakan suku bunga efektif kecuali jika dampak diskonto tidak material, maka dinyatakan pada biaya perolehan.

Beban bunga diakui dalam “Beban keuangan” dalam laporan laba rugi. Keuntungan atau kerugian diakui pada laporan laba rugi ketika liabilitas keuangan tersebut dihentikan pengakuannya dan melalui proses amortisasi.

Financial liabilities measured at amortized cost are measured, subsequent to initial recognition, at amortized cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

The related interest expense is recognized within “Finance Cost” in profit or loss. Gains and losses are recognized in profit or loss when the financial liabilities are derecognized as well as through the amortization process.

Saling hapus dari instrumen keuangan Offsetting of financial instruments

Aset keuangan dan liabilitas keuangan saling hapus dan nilai bersihnya dilaporkan dalam laporan posisi keuangan jika, dan hanya jika, saat ini memiliki hak yang berkekuatan hukum untuk melakukan saling hapus atas jumlah yang telah diakui dan terdapat maksud untuk menyelesaikan secara neto, atau untuk merealisasikan aset dan menyelesaikan liabilitas secara bersamaan.

Financial assets and financial liabilities are offset and the net amount reported in the consolidated statements of financial position if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously.

Nilai wajar instrumen keuangan Fair value of financial instruments

Nilai wajar instrumen keuangan yang diperdagangkan

secara aktif di pasar keuangan yang terorganisasi, jika ada, ditentukan dengan mengacu pada kuotasi harga di pasar aktif pada penutupan bisnis pada akhir periode pelaporan.

Untuk instrumen keuangan yang tidak memiliki pasar aktif, nilai wajar ditentukan dengan menggunakan teknik penilaian. Teknik penilaian tersebut mencakup penggunaan transaksi-transaksi pasar yang wajar antara pihak-pihak yang mengerti dan berkeinginan (arm’s length market transactions); referensi atas nilai wajar terkini dari instrumen lain yang secara substansial sama; analisa arus kas yang didiskonto; atau model penilaian lain

The fair values of financial instruments that are actively traded in organized financial markets, if any, are determined by reference to quoted market bid or ask prices at the close of business at the end of the reporting period. For financial instruments where there is no active market, fair value is determined using valuation techniques. Such techniques may include using recent arm’s length market transactions; reference to the current fair value of another instrument that is substantially the same; discounted cash flow analysis; or other valuation models.

Biaya peroleh diamortisasi instrumen keuangan

Amortized cost of financial instruments

Biaya perolehan diamortisasi dihitung dengan menggunakan metode tingkat bunga efektif dikurangi dengan penyisihan penurunan nilai dan pembayaran pokok atau pengurangan. Perhitungan tersebut mempertimbangkan premium atau diskon pada saat perolehan dan termasuk biaya transaksi dan biaya yang merupakan bagian yang tidak terpisahkan dari suku bunga efektif

Amortized cost is computed using the effective interest rate method less any allowance for impairment and principal repayment or reduction. The calculation takes into account any premium or discount on acquisition and includes transaction costs and fees that are an integral part of the effective interest rate.








15



Instrumen keuangan (lanjutan) Financial instruments (Continued)

Penurunan nilai aset keuangan Impairment of financial assets

Pada setiap akhir periode pelaporan, Perum BULOG dan Entitas Anak mengevaluasi apakah terdapat bukti yang obyektif bahwa aset keuangan atau kelompok aset keuangan mengalami penurunan nilai. Aset keuangan atau kelompok aset keuangan diturunkan nilainya dan kerugian penurunan nilai telah terjadi jika, dan hanya jika, terdapat bukti yang obyektif mengenai penurunan nilai tersebut sebagai akibat dari satu atau lebih peristiwa yang terjadi setelah pengakuan awal aset tersebut (peristiwa yang merugikan), dan peristiwa yang merugikan tersebut berdampak pada estimasi arus kas masa depan atas aset keuangan atau kelompok aset keuangan yang dapat diestimasi secara handal. Bukti penurunan nilai dapat meliputi indikasi pihak peminjam atau kelompok pihak peminjam mengalami kesulitan keuangan signifikan, wanprestasi atau tunggakan pembayaran bunga atau pokok, kemungkinan bahwa mereka akan dinyatakan pailit atau melakukan reorganisasi keuangan lainnya dan di mana data yang dapat diobservasi mengindikasikan bahwa ada terukur penurunan arus kas estimasi masa mendatang, seperti perubahan tunggakan atau kondisi ekonomi yang berkorelasi dengan wanprestasi.

Perum BULOG and its Subsidiary assess at the end of each reporting period whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events that has occurred after the initial recognition of the asset (an incurred ‘loss event’) and that loss event has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated.

Evidence of impairment may include indications that the debtors or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization and where observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults.

Untuk aset keuangan yang dicatat pada biaya perolehan diamortisasi, Perum BULOG dan Entitas Anak dan pertama kali menentukan apakah terdapat bukti obyektif mengenai penurunan nilai secara individual atas aset keuangan yang signifikan secara individual dan untuk aset keuangan yang tidak signifikan secara individual terdapat bukti penurunan nilai secara kolektif. Jika Perum BULOG dan Entitas Anak menentukan tidak terdapat bukti obyektif mengenai penurunan nilai atas aset keuangan yang dinilai secara individual, terlepas aset keuangan tersebut signifikan atau tidak, maka aset tersebut dimasukkan ke dalam kelompok aset keuangan yang memiliki karakteristik risiko kredit yang sejenis dan menilai penurunan nilai kelompok tersebut secara kolektif. Aset yang penurunan nilainya dinilai secara individual, dan untuk itu kerugian penurunan nilai diakui atau tetap diakui, tidak termasuk dalam penilaian penurunan nilai secara kolektif

For financial assets carried at amortized cost, Perum BULOG and its Subsidiary first assess whether objective evidence of impairment exist individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant. If the Perum BULOG and its Subsidiary determine that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, the asset is included in a group of financial assets with similar credit risk characteristics and collectively assessed for impairment. Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be, recognized are not included in a collective assessment of impairment.

Jika terdapat bukti obyektif bahwa kerugian penurunan nilai telah terjadi, jumlah kerugian tersebut diukur sebagai selisih antara nilai tercatat aset dengan nilai kini estimasi arus kas masa datang (tidak termasuk ekspektasi kerugian kredit masa datang yang belum terjadi). Nilai kini estimasi arus kasa masa datang didiskonto menggunakan suku bunga efektif awal dari aset keuangan tersebut. Jika pinjaman yang diberikan dan piutang memiliki suku bunga variabel, tingkat diskonto untuk mengukur kerugian penurunan nilai adalah suku bunga efektif terkini. Nilai tercatat aset tersebut berkurang melalui penggunaan akun penyisihan dan jumlah kerugian diakui dalam laporan laba rugi komprehensif.

If there is objective evidence that an impairment loss has occurred, the amount of the loss is measured as the difference between the assets carrying amount and the present value of estimated future cash flows (excluding future expected credit losses that have not yet been incurred). The present value of the estimated future cash flows is discounted at the financial assets original effective interest rate. If a loan has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate. The carrying amount of the asset is reduced through the use of an allowance account and the amount of the loss is recognized in statements of comprehensive income.








16



Instrumen keuangan (lanjutan) Financial instruments (continued)

Penurunan nilai aset keuangan (lanjutan) Impairment of financial assets (continued)

Ketika aset tidak tertagih, nilai tercatat atas aset keuangan yang telah diturunkan nilainya dikurangi secara langsung atau jika ada suatu jumlah telah dibebankan ke akun penyisihan jumlah tersebut dihapusbukukan terhadap nilai tercatat aset keuangan tersebut.

When the asset becomes uncollectible, the carrying amount of the financial assets is reduced directly or if an amount was charged to the allowance account, the amounts charged to the allowance account are written off against the carrying value of the financial asset.

Jika, pada periode berikutnya, jumlah kerugian penurunan nilai berkurang dan penurunan nilai tersebut diakui, maka kerugian penurunan nilai yang sebelumnya diakui dipulihkan, sepanjang nilai tercatat aset tidak melebihi biaya perolehan diamortisasi pada tanggal pemulihan dengan menyesuaikan akun cadangan. Jumlah pemulihan aset keuangan diakui pada laporan laba rugi. Penerimaan kemudian atas piutang yang telah dihapusbukukan sebelumnya, jika pada periode berjalan dikreditkan dengan menyesuaikan pada akun cadangan penurunan nilai, sedangkan jika setelah akhir periode pelaporan dikreditkan sebagai pendapatan operasional lainnya.

If, in a subsequent period, the amount of the impairment loss decreases and the impairment was recognized, the previously recognized impairment loss is reversed to the extent that the carrying amount of the asset does not exceed its amortized cost at the reversal date by adjusting the allowance account. The amount of the reversal is recognized in profit or loss. Subsequent recoveries of previously written off receivables, if in the current period, are credited to the allowance accounts, but if after the reporting period, are credited to other operating income.

Penghentian Pengakuan

Derecognition

(i) Aset keuangan (i) Financial assets

Perum BULOG dan Entitas Anak menghentikan pengakuan aset keuangan, jika dan hanya jika, hak kontraktual untuk menerima arus kas yang berasal dari aset keuangan tersebut berakhir; atau Perum BULOG dan Entitas Anak dan mentransfer hak untuk menerima arus kas yang berasal dari aset keuangan atau menanggung liabilitas untuk membayarkan arus kas yang diterima tersebut secara penuh tanpa penundaan berarti kepada pihak ketiga di bawah kesepakatan pelepasan (pass through arrangement); dan (a) Perum BULOG dan Entitas Anak dan telah mentransfer secara substansial seluruh risiko dan manfaat atas aset, atau (b) Perum BULOG dan Entitas Anak dan tidak mentransfer maupun tidak memiliki secara substansial seluruh risiko dan manfaat atas aset, namun telah mentransfer pengendalian atas aset.

Perum BULOG and its Subsidiary derecognize a financial asset if, and only if, the contractual rights to receive cash flows from the asset have expired; or Perum BULOG and its Subsidiary have transferred its rights to receive cash flows from have asset or have assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass through arrangement; and either (a) Perum BULOG and its Subsidiary have transferred substantially all the risks and rewards of the asset, or (b) Perum BULOG and its Subsidiary have neither transferred nor retained substantially all the risks and rewards of the asset, but have transferred control of the asset.

Ketika Perum BULOG dan Entitas Anak telah mentransfer hak untuk menerima arus kas dari aset atau telah menandatangani kesepakatan pelepasan (pass through arrangement), dan secara substansial tidak mentransfer dan tidak memiliki seluruh risiko dan manfaat atas aset keuangan, maupun mentransfer pengendalian atas aset, aset tersebut diakui sejauh keterlibatan berkelanjutan Perum BULOG dan Entitas Anak terhadap aset keuangan tersebut.

Dalam hal, Perum BULOG dan Entitas Anak juga mengakui liabilitas terkait. Aset yang ditransfer dan liabilitas terkait diukur dengan dasar yang mencerminkan hak dan liabilitas yang masih dimiliki Perum BULOG dan Entitas Anak. Keterlibatan berkelanjutan yang berbentuk pemberian jaminan atas aset yang ditransfer diukur sebesar jumlah terendah dari jumlah tercatat aset dan jumlah maksimal dari pembayaran yang diterima yang mungkin harus dibayar kembali.

When Perum BULOG and its Subsidiary have transferred its rights to receive cash flows from an asset or have entered into a pass-through arrangement, and have neither transferred nor retained substantially all of the risks and rewards of the asset nor transferred control of the asset, the asset is recognized to the extent of Perum BULOG and its Subsidiary continuing involvement in the asset. In that case, Perum BULOG and its Subsidiary also recognize an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that Perum BULOG and its Subsidiary have retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that Perum BULOG and its Subsidiary could be required to repay.








17



Instrumen keuangan (lanjutan) Financial instruments (continued)

Penghentian Pengakuan (lanjutan) Derecognition (continued)


Liabilitas keuangan dihentikan pengakuannya ketika liabilitas yang ditetapkan dalam kontrak dihentikan atau dibatalkan atau kadaluwarsa

A financial liability is derecognized when the obligation specified in the contract is discharged or cancelled or expired

Ketika liabilitas keuangan saat ini digantikan dengan yang lain dari pemberi pinjaman yang sama dengan persyaratan yang berbeda secara substansial, atau modifikasi secara substansial atas ketentuan liabilitas keuangan yang saat ini ada, maka pertukaran atau modifikasi tersebut dicatat sebagai penghapusan liabilitas keuangan awal dan pengakuan liabilitas keuangan baru, dan selisih antara nilai tercatat liabilitas keuangan tersebut diakui dalam laporan laba rugi.

When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in profit or loss.

Bantuan Pemerintah/Subsidi Government Assistance / Subsidy

1. Penerimaan dana yang berasal dari Pemerintah/APBN untuk memperoleh suatu aset diakui sebagai Pos Dana APBN yang selanjutnya akan diakui sebagai penambahan penyertaan modal negara setelah ada Peraturan Pemerintah;

2. Penerimaan dana yang berasal dari Pemerintah/APBN yang terkait dengan penggantian pembiayaan atas penugasan Pemerintah diakui sebagai pendapatan periode yang bersangkutan sesuai dengan peruntukannya;

3. Penerimaan dana yang berasal dari Pemerintah/APBN yang terkait dengan subsidi Pemerintah diakui sebagai pendapatan periode yang bersangkutan;

4. Penerimaan dana yang berasal dari Pemerintah/APBN berupa bantuan Gaji PNS diakui sebagai pendapatan periode yang bersangkutan.

1. Acceptance of funds from the government / state budget to acquire an asset is recognized as the Post Fund budget which would then be recognized as an increase in capital of the country after government regulation;

2. Acceptance of funds from the government / state budget related to the assignment of Government funding reimbursement is recognized as revenue for the period as intended;

3. Acceptance of funds from the government / budget-

related government subsidies are recognized as revenue for the period;

4. Acceptance of funds from the Government / Civil

Servant Salary Budget form of assistance is recognized as revenue for the period .








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Transaksi dengan pihak-pihak berelasi Transaction with related parties

Suatu pihak dianggap berelasi dengan Perum BULOG dan Entitas Anak, jika:

A party is considered related to the Perum BULOG and its Subsidiary if:

a. langsung, atau tidak langsung yang melalui satu atau lebih perantara, suatu pihak: (i) mengendalikan, atau dikendalikan oleh, atau

berada dibawah pengendalian bersama, dengan Perum BULOG dan Entitas Anak;

(ii) memiliki kepentingan dalam Perum BULOG dan Entitas Anak yang memberikan pengaruh signifikan atas Perum BULOG dan Entitas Anak; atau

(iii) memiliki pengendalian bersama atas Perum BULOG dan Entitas Anak;

b. suatu pihak yang berelasi dengan Perum BULOG dan Entitas Anak;

c. suatu pihak adalah ventura bersama dimana Perum BULOG dan Entitas Anak sebagai venturer;

d. suatu pihak adalah anggota dari personil manajemen kunci Perum BULOG dan Entitas Anak atau induk;

e. suatu pihak adalah anggota keluarga dekat dari

individu yang diuraikan dalam butir (a) atau (d); f. suatu pihak adalah entitas yang dikendalikan,

dikendalikan bersama atau dipengaruhi signifikan oleh atau untuk di mana hak suara signifikan pada beberapa entitas, langsung maupun tidak langsung, individu seperti diuraikan dalam butir (d) atau (e); atau

g. suatu pihak adalah suatu program imbalan pasca kerja untuk imbalan kerja dari Perum BULOG dan Entitas Anak atau entitas yang terkait dengan Perum BULOG dan Entitas Anak.

a. directly, or indirectly through one or more intermediaries, the party: (i) controls, is controlled by, or is under common

control with, Perum BULOG and its Subsidiary; (ii) has an interest in the Perum BULOG and its

Subsidiary that gives it significant influence over Perum BULOG and its Subsidiary; or,

(iii) has joint control over the Perum BULOG and its

Subsidiary; b. the party is an associate of the Perum BULOG and its

Subsidiary; c. the party is a joint venture in which the Perum BULOG

and its Subsidiary is a venturer; d. the party is a member of the key management

personnel of the Perum BULOG and its Subsidiary or its parent;

e. the party is a close member of the family of any individual referred to in (a) or (d);

f. the party is an entity that is controlled, jointly controlled or significantly influenced by or for which significant voting power in such entity resides with, directly or indirectly, any individual referred to in (d) or (e); or

g. the party is a post employment benefit plan for the benefit of employees of Perum BULOG and its Subsidiary, or of any entity that is a related party of the Perum BULOG and its Subsidiary.

Transaksi ini dilakukan berdasarkan persyaratan yang disetujui oleh kedua belah pihak, dimana persyaratan tersebut mungkin tidak sama dengan transaksi lain yang dilakukan dengan pihak-pihak yang tidak berelasi.

The transactions are made based on terms agreed by the parties. Such terms may not be the same as those of the transactions between unrelated parties.

Seluruh transaksi dan saldo yang material dengan pihak-pihak berelasi telah diungkapkan dalam catatan atas laporan keuangan konsolidasian.

All significant transactions and balances with related parties are disclosed in the relevant Notes herein.

Persediaan Inventories

1. Penilaian persediaan: 1. Inventory valuation:

a. Barang dagangan

i. Berdasarkan biaya perolehan dengan menggunakan metode rata-rata tertimbang;

ii. Harga beli/harga pengadaan barang dagangan dan biaya-biaya yang terkait langsung dengan pembelian/pengadaan diakui sebagai biaya perolehan;

iii. Biaya-biaya yang terkait langsung dengan pengolahan/processing barang dagangan diakui sebagai biaya perolehan.

a. Merchandise i. Cost, using the weighted average method;

ii. The purchase price/procurement price and cost

directly associated with the purchase/ procurement is recognized as part of cost;

iii. Costs directly related to the processing of

merchandise is recognized as part of cost








19


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Persediaan (lanjutan) Inventories (continued)

b. Barang pelengkap/pembantu

i. Harga beli/harga pengadaan/harga penerimaan barang pelengkap/pembantu selama periode diakui sebagai beban periode yang bersangkutan.

ii. Pada akhir periode (tanggal pelaporan) berdasarkan pemeriksaan fisik (stock opname), sisa/saldo barang pelengkap/pembantu diakui sebagai persediaan dan dinilai menurut harga pembelian/pengadaan/penerimaan terakhir.

iii. Khusus untuk karung pembungkus bekas baik (yang masih dapat digunakan) dinilai sebesar 75% dari harga pembelian yang terakhir dari jenis karung yang bersangkutan.

b. Complementary goods / auxiliary i. The purchase price/procurement price/

supplementary price of goods receipt / auxiliary during the period is recognized as an expense during the period.

ii. At the end of the period (the reporting date) based on physical examination (stock taking), the remaining / balance of complementary goods / auxiliary is recognized as inventories and assessed according to the purchase price/ procurement.

iii. Wrapping sacks for specific use (which still can be used) is recognized at 75% of the last purchase price of corresponding type of sacks.

2. Biaya perolehan barang dagangan 2. Cost of merchandise

1. Biaya perolehan barang dagangan atas kegiatan

pembelian dalam negeri adalah biaya-biaya yang terkait langsung dengan pembelian dalam negeri diakui pada saat penerimaan barang.

2. Biaya perolehan barang dagangan atas kegiatan pembelian luar negeri (impor) adalah biaya-biaya yang terkait langsung dengan pembelian luar negeri diakui pada saat penerimaan barang.

3. Biaya perolehan barang dagangan atas kegiatan movement nasional diakui pada saat pengiriman/penerimaan barang dan sebagai beban Kantor pusat (dilimpahkan).

4. Biaya perolehan barang dagangan atas kegiatan movement regional diakui pada saat pengiriman/penerimaan barang dan sebagai beban Divre yang bersangkutan.

5. Biaya perolehan barang dagangan atas kegiatan giling / processing dan reprocessing adalah biaya biaya yang terkait langsung dengan giling/processing atau reprocessing diakui pada saat penerimaan barang.

1. Cost of goods on domestic purchases activities which are costs directly related to local purchases is recognized upon receipt of the goods.

2. Cost of goods on import purchases which are costs directly related to the foreign purchases is recognized upon receipt of the goods.

3. Cost of goods on national movement activities are recognized upon delivery / receipt of goods and as expenses of the head office (transferred).

4. Cost of goods on regional movement activities

are recognized upon delivery / receipt of goods and as expenses of the division concerned.

5. Cost of goods on milling/processing and

reprocessing activities which are costs directly related to milling/processing or reprocessing are recognized upon receipt of the goods.

3. Penghapusan persediaan 3. Inventories write off

Penghapusan persediaan dalam laporan posisi

keuangan dilaksanakan berdasarkan keputusan Direksi atas dasar hasil / keputusan Rapat Pembahasan Bersama (RPB) antara Direksi dan Dewan Pengawas, sesuai dengan Keputusan Menteri.

Inventory write off in the statement of financial position is implemented by the decision of Board of Directors based on the results/decision of the Board of Directors and Supervisory Board Joint Discussion Meeting (RPB), in accordance with the Decree of the Minister.








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Aset Tetap Fixed Assets

Aset tetap kecuali tanah dinyatakan sebesar biaya perolehan dikurangi akumulasi penyusutan dan rugi penurunan nilai. Biaya perolehan termasuk biaya penggantian bagian aset tetap saat biaya tersebut terjadi, jika memenuhi kriteria pengakuan. Selanjutnya, pada saat inspeksi yang signifikan dilakukan, biaya inspeksi itu diakui ke dalam nilai tercatat (“carrying amount”) aset tetap sebagai suatu penggantian jika memenuhi kriteria pengakuan. Semua biaya perbaikan dan pemeliharaan yang tidak memenuhi kriteria pengakuan diakui dalam laporan laba rugi pada saat terjadinya.

Fixed assets, except land, are stated at cost less accumulated depreciation and any impairment loss. Such cost includes the cost of replacing part of the fixed assets when the cost is incurred, if the recognition criteria are met. Likewise, when a major inspection is performed, its cost is recognized in the carrying amount of the assets as a replacement if the recognition criteria are met. All other repairs and maintenance costs that do not meet the recognition criteria are recognized in profit or loss as incurred.

Perum BULOG dan Entitas Anak memilih menggunakan model biaya sebagai kebijakan akuntansi pengukuran aset tetapnya.

Perum BULOG and Subsidiary have chosen cost model as the accounting policy for its fixed assets.

Aset tetap kecuali tanah disusutkan dengan menggunakan metode garis lurus dengan nilai sisa Rp 1,00 berdasarkan masa manfaat ekonomis aset tetap sebagai berikut:

Fixed assets, except land are depreciated using the straight-line method with a residual value of Rp 1.00 based on the useful lives of the assets as follows:

Aset tetap bangunan: 1. Kelompok I, yaitu bangunan permanen yang dibangun

sesuai standar Perum BULOG seperti GBB, GDT, GBM, Kantor, Rumjab masa manfaat ekonomis ditetapkan selama 20 tahun.

2. Kelompok II, yaitu bangunan permanen yang dibangun tidak sesuai dengan standar Perum BULOG seperti bangunan yang diperoleh dari kompensasi, masa manfaat ekonomis ditetapkan selama 20 tahun.

3. Kelompok III, yaitu bangunan semi permanen yang dibangun sesuai standar Perum BULOG seperti GSP, masa manfaat ekonomis ditetapkan selama 10 tahun.

4. Kelompok IV, yaitu bangunan semi permanen yang dibangun tidak sesuai dengan standar Perum BULOG seperti bangunan yang diperoleh dari kompensasi dan pembelian, masa manfaat ekonomis ditetapkan selama 10 tahun.

Fixed Assets-Buliding: 1. Group I, which include permanent building

constructed according with standards such as GBB, GDT, GBM, Office, Rumjab, the economic useful lifes is 20 years.

2. Group II, which includes permanent building that not constructed in accordance with Perum BULOG standards such as building obtained from compensation, the useful life is 20 years.

3. Group III, which includes semi-permanent building constructed in accordance with Perum BULOG standards such as GSP, the useful life is 10 years.

4. Group IV, which includes semi-permanent buildings that are not constructed in accordance with Perum BULOG standards such as building obtained from compensation and purchases, the useful life is 10 years.

Aset tetap bukan bangunan: 1) Kelompok I, yaitu inventaris (inventaris gudang,

inventaris kantor, inventaris rumah dinas, inventaris laboratorium dan inventaris lainnya) kecuali alat pengatur udara (AC, kipas angin dan sejenisnya) serta kendaraan roda dua (motor, sepeda dan sejenisnya), masa manfaat ekonomis ditetapkan selama 4 tahun;

2) Kelompok II, yaitu kendaraan roda empat, alat pengatur udara dan mesin-mesin, masa manfaat ekonomis ditetapkan selama 8 tahun.

1) Fixed assets other than building: Group I, which includes inventory (warehouse inventories, office equipment, head office inventories, laboratory inventories and other inventories) except air regulator (AC, fans and the like) as well as two-wheel vehicles (motorcycles, bicycles and the like), the economic useful life is 4 years;

2) Group II, which includes four-wheel vehicles, air-conditioning equipment and machinery, the economic useful life is 8 years. .

Jumlah tercatat aset tetap dihentikan pengakuannya pada saat dilepaskan atau saat tidak ada manfaat ekonomis masa depan yang diharapkan dari penggunaannya. Laba atau rugi yang timbul dari penghentian pengakuan aset diakui dalam laporan laba rugi pada tahun aset tersebut dihentikan pengakuannya.

The carrying value of fixed assets is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising on derecognition of the assets is charged to profit or loss in the year the assets is derecognized.








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Aset Tetap (lanjutan) Fixed Assets (continued)

Nilai residu, estimasi masa manfaat dan metode penyusutan direview dan disesuaikan, setiap akhir tahun, bila diperlukan.

The residual values, estimated useful lives, and depreciation method are reviewed and adjusted, at year end, if necessary.

Tanah dinyatakan berdasarkan biaya perolehan dan tidak disusutkan. Biaya yang terkait dengan perolehan hak yang sah atas tanah ketika tanah pertama kali diakuisisi diakui sebagai bagian dari biaya tanah. Biaya yang terkait dengan perpanjangan atau pembaharuan hak hukum atas tanah diakui sebagai aset tidak berwujud dan diamortisasi selama masa hak atas tanah atau umur ekonomis tanah, mana yang lebih pendek.

Land is stated at cost and not depreciated. Costs associated with the acquisition of legal right of land when the land was first acquired are recognized as part of the cost of land. Costs associated with the extension or renewal of legal right of land are recognized as an intangible asset and amortized over the legal life of the land rights or economic life of the land, whichever is shorter.

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

Pada setiap akhir periode pelaporan, Perum BULOG dan Entitas Anak menilai apakah terdapat indikasi suatu aset mengalami penurunan nilai. Jika terdapat indikasi tersebut atau pada saat pengujian penurunan nilai aset diperlukan, maka Perum BULOG dan Entitas Anak membuat estimasi jumlah terpulihkan aset tersebut.

Perum BULOG and its Subsidiary assess at each reporting period whether there is an indication that an asset may be impaired. If any such indication exists, or when annual impairment testing for an asset is required, Perum BULOG and its Subsidiary make an estimate of the asset’s recoverable amount.

Jumlah terpulihkan suatu aset adalah lebih tinggi dari aset atau yang nilai wajar UPK yang dikurangi biaya untuk menjual dan nilai pakainya, dan ditentukan untuk aset individual, kecuali aset tersebut tidak menghasilkan arus kas masuk yang sebagian besar independen dari aset lain atau kelompok aset. Dimana nilai tercatat suatu aset melebihi jumlah terpulihkan, maka aset tersebut dipertimbangkan mengalami penurunan nilai dan diturunkan ke jumlah yang dapat diperoleh kembali. Kerugian penurunan nilai dari operasi yang berkelanjutan diakui pada laporan laba rugi komprehensif konsolidasian sebagai "rugi penurunan nilai". Dalam menilai nilai pakai, taksiran aliran kas bersih masa depan didiskontokan ke nilai kini dengan menggunakan tingkat diskonto sebelum pajak yang mencerminkan penilaian pasar saat ini atas nilai waktu uang dan risiko spesifik atas aset. Jika tidak ada transaksi tersebut dapat diidentifikasi, model valuasi yang tepat digunakan untuk menentukan nilai wajar dari aset. Perhitungan ini dikuatkan oleh penilaian berganda atau indikator nilai wajar yang tersedia.

An asset’s recoverable amount is the higher of the asset’s or its CGU’s fair value less costs to sell and its value in use, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. Impairment losses of continuing operations are recognized in the consolidated statements of comprehensive income as “impairment losses”. In assessing the value in use, the estimated net future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If no such transactions can be identified, an appropriate valuation model is used to determine the fair value of the assets. These calculations are corroborated by valuation multiples or other available fair value indicators.








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Penurunan nilai aset non-keuangan (lanjutan) Impairment of non-financial assets (continued)

Dalam menentukan nilai wajar dikurangi biaya untuk menjual, transaksi pasar baru-baru ini diperhitungkan, jika tersedia. Kerugian penurunan nilai dari operasi yang berkelanjutan, jika ada, diakui dalam laporan laba rugi komprehensif konsolidasian sesuai dengan kategori biaya yang konsisten dengan fungsi dari aset yang terganggu.

In determining fair value less costs to sell, recent market transactions are taken into account, if available. Impairment losses of continuing operations, if any, are recognized in the consolidated statements of comprehensive income under expense categories that are consistent with the functions of the impaired assets.

Penilaian dilakukan pada akhir setiap periode pelaporan tahunan apakah terdapat indikasi bahwa sebelumnya diakui kerugian penurunan nilai diakui untuk aset selain goodwill mungkin tidak ada lagi atau mungkin telah menurun. Bila terdapat indikasi, jumlah terpulihkan diperkirakan. Sebuah kerugian penurunan nilai yang diakui sebelumnya untuk aset selain goodwill dibalik hanya jika telah terjadi perubahan dalam asumsi yang digunakan untuk menentukan jumlah terpulihkan aset tersebut sejak rugi penurunan nilai terakhir diakui. Jika itu terjadi, jumlah aset tercatat dinaikkan ke jumlah terpulihkannya. Pembalikan tersebut dibatasi sehingga jumlah aset tercatat tidak melebihi jumlah terpulihkannya maupun melebihi nilai tercatat yang seharusnya diakui, setelah dikurangi depresiasi, telah ada rugi penurunan nilai telah diakui untuk aset tersebut pada tahun sebelumnya. Pembalikan rugi penurunan nilai diakui dalam laporan laba rugi komprehensif konsolidasian. Setelah pembalikan tersebut, biaya penyusutan aset tersebut disesuaikan di periode mendatang untuk mengalokasikan direvisi jumlah aset yang tercatat, dikurangi nilai sisanya, dengan dasar yang sistematis selama sisa umur manfaatnya.

An assessment is made at each annual reporting period as to whether there is any indication that previously recognized impairment losses recognized for an asset other than goodwill may no longer exist or may have decreased. If such indication exists, the recoverable amount is estimated. A previously recognized impairment loss for an asset other than goodwill is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceeds the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Reversal of an impairment loss is recognized in the consolidated statement of comprehensive income. After such a reversal, the depreciation charge on the said asset is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life.

Manajemen berkeyakinan bahwa tidak ada indikasi penurunan potensial atas nilai aset non-keuangan pada tanggal 31 Desember 2014 dan 2013.

Management believes that there is no indication of potential impairment in values of non-financial assets as of December 31, 2014 and 2013.

Properti Investasi Investment Property

Properti investasi kecuali tanah dinyatakan sesuai nilai perolehan dikurangi kerugian penurunan nilai, jika ada. Nilai perolehan tersebut termasuk biaya penggantian komponen properti investasi, jika kriteria pengakuan terpenuhi, dan tidak termasuk biaya penggunaan harian.

Investment property, except land is stated at cost less impairment loss, if any. Such cost includes the cost of replacing part of the investment property, if the recognition criteria are met, and excludes the daily expenses on their usage.

Properti investasi terdiri dari tanah, bangunan dan prasarana yang dikuasai untuk menghasilkan sewa atau untuk kenaikan nilai atau kedua-duanya, dan tidak untuk digunakan dalam produksi atau penyediaan barang atau jasa untuk tujuan administratif atau dijual dalam kegiatan usaha sehari-hari.

Investment properties consist of land, building and infrastructures held to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services or for administrative purposes or sale in the ordinary course of business.

Properti investasi dihentikan pengakuannya pada saat dilepaskan atau ketika properti investasi tersebut tidak digunakan lagi secara permanen dan tidak memiliki manfaat ekonomis masa depan yang diharapkan pada saat pelepasannya. Laba atau rugi yang timbul dari penghentian atau pelepasan properti investasi diakui atau dibebankan pada operasi tahun aset tersebut dihentikan pengakuannya.

An investment property should be derecognized upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from its disposal. Gains or losses arising from the retirement or disposal of an investment property is credited or charged to operations in the year the asset is derecognized.

Penyusutan bangunan dan prasarana dihitung dengan menggunakan metode garis lurus selama umur manfaat aset antara 10-20 tahun.

Depreciation of buildings and improvements is computed using the straight-line method over the estimated useful lifes of assets between 10-20 years.








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Pengakuan Pendapatan dan Beban Revenue and Expense Recognition

Pendapatan, diakui dengan menggunakan dasar Akrual, kecuali subsidi beban Pemerintah yang ditetapkan sesuai ketentuan yang berlaku.

Revenue is recognized using the accrual basis, except for government subsidy which is determined based on applicable regulation.

Beban diakui pada saat terjadinya (dasar akrual). Expenses are recognized using when these are incurred.

Perpajakan Taxation

Beban pajak penghasilan terdiri dari pajak kini dan tangguhan. Beban pajak penghasilan diakui dalam laporan laba rugi, kecuali untuk transaksi-transaksi yang berhubungan dengan transaksi diakui langsung dalam ekuitas, dalam hal ini diakui sebagai pendapatan komprehensif lainnya.

Income tax expense comprises current and deferred tax. Income tax expense is recognized in profit or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income.

Beban pajak tahun berjalan dicadangkan berdasarkan pada estimasi penghasilan kena pajak untuk tahun berjalan. Aset dan liabilitas pajak tangguhan diakui atas seluruh perbedaan temporer antara pencatatan komersial dan dasar pengenaan pajak aset dan liabilitas pada setiap tanggal pelaporan. Manfaat pajak di masa yang akan datang, seperti saldo rugi fiskal yang belum digunakan juga diakui apabila besar kemungkinan manfaat pajak tersebut dapat direalisasi.

Current income tax expense is provided based on the estimated taxable income for the year. Deferred tax assets and liabilities are recognized for temporary differences between the financial and the tax bases of assets and liabilities at the end of each reporting period. Future tax benefits, such as the carry-forward of unused tax losses, are also recognized to the extent that realization of such benefits is probable.

Aset dan liabilitas pajak tangguhan dihitung dengan menggunakan tarif pajak yang akan berlaku pada saat aset dipulihkan atau liabilitas diselesaikan, yaitu dengan tarif pajak (dan peraturan pajak) yang telah diberlakukan atau yang secara substansial telah berlaku pada akhir periode pelaporan. Perubahaan nilai tercatat aset dan liabilitas pajak tangguhan yang disebabkan oleh perubahaan tarif pajak dibebankan pada tahun berjalan, kecuali untuk transaksi-transaksi yang sebelumnya telah langsung dibebankan atau dikreditkan ke ekuitas. Nilai tercatat aset pajak tangguhan harus ditinjau kembali pada akhir periode pelaporan. Perum BULOG dan Entitas Anak harus menurunkan nilai tercatat apabila laba fiskal tidak mungkin memadai untuk mengkompensasi sebagian atau semua aset pajak tangguhan.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on the tax rates (and tax laws) that have been enacted or substantially enacted at the end of the reporting period. The change of the carrying value of deferred tax assets and liabilities caused by the change of tax rates is charged to the current year, except for transactions that previously had been charged or credited directly to equity. The carrying amount of deferred tax assets is reviewed at the end of each reporting period. Perum BULOG and its Subsidiary shall reduce the carrying value if there will be no sufficient taxable income against all or part of deferred tax assets can be utilized.

Penyesuaian terhadap liabilitas pajak dicatat pada saat menerima surat ketetapan pajak atau, jika dilakukan naik banding, pada saat hasil banding diputuskan.

Adjustments to tax liabilities are recorded at the time of receiving tax assessment or, if appeal, when the appeal was decided.








24


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICES (continued)

Transaksi dan Saldo Dalam Mata Uang Asing Foreign Currency Transactions and Balances

Pembukuan Perum BULOG dan Entitas Anak diselenggarakan dalam mata uang Rupiah. Transaksi dalam mata uang asing dijabarkan ke dalam Rupiah dengan kurs yang berlaku pada tanggal transaksi. Pada akhir periode pelaporan, aset dan kewajiban moneter dalam mata uang asing dijabarkan ke dalam Rupiah dengan menggunakan kurs tengah yang ditetapkan oleh Bank Indonesia pada tanggal tersebut. Keuntungan dan kerugian yang timbul dari transaksi dalam mata uang asing dan penjabaran aset dan liabilitas moneter dalam mata uang asing ke mata uang Rupiah diakui pada laba rugi.

The accounting records of Perum BULOG and its Subsidiary are maintained in Rupiah. Transactions denominated in foreign currencies are translated into Rupiah at the exchange rates prevailing at the dates of the transactions. At the end of the reporting period, monetary assets and liabilities denominated in foreign currencies are translated into Rupiah using the middle rates of exchange quoted by Bank Indonesia at such date. Exchange gains and losses arising on foreign currency transactions and on the translation of foreign currency monetary assets and liabilities into Rupiah are recognized in the current period’s profit or loss.

Kurs yang digunakan untuk menjabarkan ke mata uang

Rupiah pada tanggal 31 Desember 2014 dan 2013 1 USD = Rp 12.440 dan 1 USD = Rp 12.189. Keuntungan atau kerugian yang timbul sebagai akibat dari penjabaran aset dan liabilitas dalam mata uang asing diakui dalam laba atau rugi tahun berjalan.

The exchange rates used for translation into Rupiah as of December 31, 2014 and 2013 are 1 USD = Rp 12,440 and 1 USD = Rp 12,189, respectively. Any gains or losses arising from the translation of assets and liabilities in foreign currencies are recognized in profit or loss for the year.

Kontribusi Biaya/Beban Usaha Contribution Cost / Operating Expense

Kontribusi biaya/beban usaha atas biaya pegawai, biaya

umum dan biaya penyisihan piutang, beban penyusutan aset tetap untuk masing-masing segmen dihitung berdasarkan formula sebagai berikut:

Contribution costs/operating expenses which includes personnel expenses, general expenses and provision for allowance, depreciation of fixed assets for each segment is calculated using the following formula:

1. Kontribusi biaya/beban usaha Penugasan Pemerintah

{Public Service Obligation (PSO)} dihitung berdasarkan formula:

1. Contribution costs/operating expenses Government Project {Public Service Obligation (PSO)} is calculated using the following formula:

BUP = Beban Usaha Penugasan Pemerintah BUP = Government Project Operating Expenses TPP = Jumlah Penghasilan Usaha Penugasan TPP = Total amount of Government Project Pemerintah Operating Revenue TP = Jumlah Penghasilan Perum BULOG TP = Total amount of Perum BULOG revenue

2. Kontribusi biaya/beban usaha Komersial dihitung berdasarkan formula:

2. Contribution costs/Commercial operating expenses is calculated using the following formula:

BUK = Beban Usaha Komersial dan Unit Bisnis BUK = Unit business and commercial operating Expenses TPK = Jumlah Penghasilan Usaha Komersial dan TPK = Total amount of unit business and Unit Bisnis Commercial Revenue TP = Jumlah Penghasilan Perum BULOG TP = Total amount of Perum BULOG revenue

3. Penyajian kontribusi biaya/beban usaha dalam laporan keuangan dilakukan hanya pada laporan posisi keuangan gabungan Perum BULOG.

3. Contribution costs/operating expenses in the financial statements is only presented in the Perum BULOG combined financial statements.

BUP = TPP

x 100% TP

BUK = TPK

x 100% TP








25



Imbalan Kerja Employee Benefits

Perum BULOG memberikan imbalan kerja dengan

mengikutsertakan karyawan dalam program dana pensiun yang dikelola oleh PT Asuransi Jiwasraya (Persero) yang dituangkan dalam perjanjian kerja sama No. PKK-63/03/2004 tanggal 5 Maret 2004 tentang Pengelolaan Program Kesejahteraan Hari Tua Pegawai Perum BULOG.

Perum BULOG provides employee benefits to its employees through pension plans managed by PT Asuransi Jiwasraya (Persero) as outlined in the cooperative agreement No. PKK-63/03/2004 dated March 5, 2004 on the Management of Retirement Benefits Program of Perum BULOG employees.

Perum BULOG mencatat liabilitas imbalan kerja sesuai

dengan UU Ketenagakerjaan No. 13/2003 tanggal 25 Maret 2003 (“UU Ketenagakerjaan”). Berdasarkan PSAK No. 24 (Revisi 2010), biaya imbalan kerja ditentukan oleh penilaian aktuaria dengan menggunakan metode projected-unit-credit.

Perum BULOG recognized unfunded employee benefits liability in accordance with Labor Law No. 13/2003 dated March 25, 2003 (the “Labor Law”). Under PSAK No. 24 (Revised 2010), the cost of providing employee benefits is determined using the projected-unit-credit actuarial valuation method.

Perusahaan telah memilih metode koridor 10% untuk

pengakuan keuntungan dan kerugian aktuaria atas penyisihan imbalan kerja karyawan sesuai dengan UU Ketenagakerjaan.

The Company has chosen the 10% corridor method for the recognition of actuarial gains and losses on provision for employee benefits in accordance with Labor Law.

Keuntungan dan kerugian aktuarial diakui sebagai

penghasilan atau beban apabila akumulasi bersih rugi aktuarial untuk setiap program pada akhir periode pelaporan sebelumnya melebihi 10% dari nilai kini kewajiban imbalan pasti atau 10% dari nilai wajar aset program, jika ada. Keuntungan dan kerugian ini diakui dengan metode garis lurus selama rata-rata sisa masa kerja yang diharapkan dari karyawan.

Actuarial gains and losses are recognized as income or expense when the net cumulative unrecognized actuarial gains and losses for each individual plan at the end of the previous reporting period exceeded the greater of 10% of the present value of the defined benefit obligation or 10% of the fair value of the plan assets, if any. These gains and losses are recognized on a straight-line method over the expected average remaining work lives of the employees.

Biaya jasa lalu diakui secara langsung di laporan laba rugi, kecuali perubahan terhadap program pensiun tersebut tergantung pada yang tetap bekerja selama periode waktu tertentu (periode vesting). Dalam hal ini, biaya jasa lalu diamortisasi secara garis lurus sepanjang periode vesting. Biaya jasa kini diakui sebagai beban pada periode yang berlaku.

Past-service costs are recognized immediately in the profit or loss, unless the changes to the pension plan are conditional on the employees remaining in service for a specified period of time (the vesting period). In this case, the past-service costs are amortized on a straight-line basis over the vesting period. The current service cost is recorded as an expense in the prevailing period.

Perum BULOG mengakui keuntungan atau kerugian atas kurtailmen atau penyelesaian program manfaat pasti saat pembatasan atau penyelesaian terjadi. Laba atau rugi pada kurtailmen atau penyelesaian terdiri dari perubahan dalam nilai kini kewajiban imbalan pasti dan keuntungan atau kerugian aktuarial dan biaya jasa lalu yang sebelumnya tidak diakui.

Perum BULOG recognized gains or losses on the curtailment or settlement of a defined benefit plan when the curtailment or settlement occurs. The gain or loss on a curtailment or settlement comprises change in the present value of the defined obligation and any related actuarial gains and losses and past-service cost that had not previously been recognized.








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Informasi Segmen Segment Information

Segmen adalah bagian khusus dari Perum BULOG dan Entitas Anak yang terlibat baik dalam menyediakan produk dan jasa (segmen usaha), maupun dalam menyediakan produk dan jasa dalam lingkungan ekonomi tertentu (segmen geografis), yang memiliki risiko dan imbalan yang berbeda dari segmen lainnya.

A segment is a distinguishable component of Perum BULOG and its Subsidiary that is engaged either in providing certain products (business segment), or in providing products within a particular economic environment (geographical segment), which is subject to risks and rewards that are different from those of other segments.

Pendapatan, beban, hasil, aset dan liabilitas segmen termasuk item-item yang dapat diatribusikan langsung kepada suatu segmen serta hal-hal yang dapat dialokasikan dengan dasar yang sesuai kepada segmen tersebut.

Segment revenue, expenses, results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis to that segment.

Untuk kepentingan manajemen, Perum BULOG dan Entitas Anak membagi segmen usahanya menjadi dua (2) segmen utama, yaitu: Pelayanan Publik dan Komersial. Informasi keuangan tentang segmen usaha ini disajikan dalam Catatan 32.

For management purposes, Perum BULOG and its Subsidiary divide its business segments into two (2) main segments, namely: Public and Commercial Services. Financial information on business segments is presented in Note 32.

3. PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI

3. USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS

Penyusunan laporan keuangan konsolidasian Perum BULOG dan Entitas Anak mengharuskan manajemen untuk membuat pertimbangan, estimasi dan asumsi yang mempengaruhi jumlah yang dilaporkan, dan pengungkapan yang terkait, pada akhir periode pelaporan. Namun, ketidakpastian tentang asumsi dan estimasi ini dapat menimbulkan dampak yang membutuhkan penyesuaian material terhadap nilai tercatat aset atau liabilitas yang terpengaruh di masa mendatang.

The preparation of the Perum BULOG and its Subsidiary’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts herein, and the related disclosures, at the end of the reporting period. However, uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in future periods.

Pertimbangan Judgments

Dalam proses penerapan kebijakan akuntansi Perum BULOG dan Entitas Anak, manajemen telah membuat pertimbangan-pertimbangan berikut, yang memiliki pengaruh paling signifikan terhadap jumlah yang diakui dalam laporan keuangan konsolidasian:

In the process of applying the Perum BULOG and its Subsidiary’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements:

Klasifikasi Instrumen Keuangan Classification of financial instruments

Perum BULOG dan Entitas Anak menentukan klasifikasi

aset dan kewajiban sebagai aset keuangan dan kewajiban keuangan tertentu dengan menilai apakah mereka memenuhi definisi yang ditetapkan dalam PSAK No. 55 (Revisi 2011). Dengan demikian, aset keuangan dan kewajiban keuangan dicatat sesuai dengan kebijakan akuntansi Perum BULOG dan Entitas Anak dijelaskan dalam Catatan 2.

Perum BULOG and its Subsidiary determine the classification of certain assets and liabilities as financial assets and financial liabilities by judging if they meet the definition set forth in PSAK No. 55 (Revised 2011). Accordingly, the financial assets and financial liabilities are accounted for in accordance with the Perum BULOG and its Subsidiary’s accounting policies disclosed in Note 2.








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3. PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI (lanjutan)

3. USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (continued)

Pertimbangan (lanjutan) Judgments (continued)

Cadangan atas Penurunan Nilai Piutang Usaha Allowance for Impairment of Trade Receivables

Perum BULOG dan Entitas Anak mengevaluasi akun

tertentu jika terdapat informasi bahwa pelanggan yang bersangkutan tidak dapat memenuhi kewajiban keuangannya. Dalam hal tersebut, Perum BULOG dan Entitas Anak mempertimbangkan, berdasarkan fakta dan situasi yang tersedia, termasuk namun tidak terbatas pada, jangka waktu hubungan dengan pelanggan dan status kredit dari pelanggan berdasarkan catatan kredit dari pihak ketiga dan faktor pasar yang telah diketahui, untuk mencatat provisi yang spesifik atas piutang pelanggan guna mengurangi piutang yang diharapkan dapat diterima oleh Perum BULOG dan Entitas Anak. Provisi yang spesifik ini dievaluasi kembali dan disesuaikan jika tambahan informasi yang diterima mempengaruhi jumlah penyisihan penurunan nilai untuk piutang usaha. Nilai tercatat piutang usaha Perum BULOG dan Entitas Anak sebelum penyisihan penurunan nilai masing-masing sebesar Rp 1.145.997.322.172 dan Rp 469.657.079.623 pada tanggal 31 Desember 2014 dan 2013 (Catatan 5).

Perum BULOG and its Subsidiary evaluate specific accounts where it has information that certain customers are unable to meet their financial obligations. In these cases, Perum BULOG and its Subsidiary use judgment, based on the best available facts and circumstances, including but not limited to, the length of its relationship with the customer and the customer’s current credit status based on third party credit reports and known market factors, to record specific provisions for customers against amounts due to reduce its receivable amounts that Perum BULOG and its Subsidiary expect to collect. These specific provisions are re-evaluated and adjusted as additional information received affects the amounts of allowance for impairment of trade receivables. The carrying amount of the Perum BULOG and its Subsidiary’s trade receivables before allowance for impairment amounted to Rp 1,145,997,322,172 and Rp 469,657,079,623 as of December 31, 2014 and 2013, respectively (Note 5).

Penentuan Mata Uang Fungsional Determination of functional currency

Mata uang fungsional Perum BULOG dan Entitas Anak

adalah mata uang dari lingkungan ekonomi primer dimana entitas beroperasi. Mata uang tersebut adalah mata uang yang mempengaruhi pendapatan dan beban dari jasa yang diberikan. Berdasarkan penilaian manajemen Perum BULOG dan Entitas Anak mata uang fungsional adalah Rupiah.

The functional currency of the Perum BULOG and its Subsidiary is the currency of the primary economic environment in which each entity operates. It is the currency that mainly influences the revenue and cost of rendering services. Based on the Perum BULOG and its Subsidiary’s management assessment, their functional currency is in Rupiah.

Estimasi dan Asumsi Estimates and Assumptions Asumsi utama masa depan dan ketidakpastian sumber

estimasi utama yang lain pada tanggal pelaporan yang memiliki risiko signifikan bagi penyesuaian yang material terhadap nilai tercatat aset dan liabilitas untuk tahun berikutnya diungkapkan di bawah ini. Perum BULOG dan Entitas Anak mendasarkan asumsi dan estimasi pada parameter yang tersedia pada saat laporan keuangan konsolidasian disusun. Asumsi dan situasi mengenai perkembangan masa depan mungkin berubah akibat perubahan pasar atau situasi di luar kendali Perum BULOG dan Entitas Anak. Perubahan tersebut dicerminkan dalam asumsi terkait pada saat terjadinya.

The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. Perum BULOG and its Subsidiary based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments however, may change due to market changes or circumstances arising beyond the control of Perum BULOG and its Subsidiary. Such changes are reflected in the assumptions when they occur.








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3. USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (Continued)

Penyusutan Aset Tetap dan Properti Investasi Depreciation of fixed assets and investment property

Biaya perolehan aset tetap dan properti investasi disusutkan dengan menggunakan metode garis lurus berdasarkan taksiran masa manfaat ekonomisnya. Manajemen mengestimasi masa manfaat ekonomis aset tetap dan properti investasi antara 4 sampai dengan 20 tahun. Ini adalah umur yang secara umum diharapkan dalam industri dimana Perum BULOG dan Entitas Anak menjalankan bisnisnya. Perubahan tingkat pemakaian dan perkembangan teknologi dapat mempengaruhi masa manfaat ekonomis dan nilai sisa aset, dan karenanya biaya penyusutan masa depan mungkin direvisi. Nilai tercatat neto atas aset tetap dan properti investasi Perum BULOG dan Entitas Anak pada tanggal 31 Desember 2014 dan 2013 masing-masing sebesar Rp 2.151.909.886.337 dan Rp 2.214.279.936.468 (Catatan 12), dan properti investasi masing-masing sebesar Rp 183,138,901,427 dan Rp 186,452,077,532 (Catatan 13).

The costs of fixed assets and investment property are depreciated on a straight-line basis over their estimated useful lives. Management estimates the useful lives of these fixed assets and investment property to be within 4 to 20 years. These are common life expectancies applied in the industries where the Perum BULOG and its Subsidiary conducts its businesses. Changes in the expected level of usage and technological development could impact the economic useful lives and the residual values of these assets, and therefore future depreciation charges could be revised. The net carrying amount of the Perum BULOG and its Subsidiary fixed assets and investment property as of December 31, 2014 and 2013 are Rp 2,151,909,886,337 and Rp 2,214,279,936,468 respectively (Note 12), and investment property are Rp 183,138,901,427 and Rp 186,452,077,532 respectively (Note 13).

Imbalan Pasca Kerja dan Pensiun Pension and employee benefits

Penentuan utang dan biaya pensiun dan liabilitas imbalan kerja Kelompok Usaha bergantung pada pemilihan asumsi yang digunakan oleh aktuaris independen dalam menghitung jumlah-jumlah tersebut. Asumsi tersebut termasuk antara lain, tingkat diskonto, tingkat kenaikan gaji tahunan, tingkat pengunduran diri karyawan tahunan, tingkat kecacatan, umur pensiun dan tingkat kematian. Hasil aktual yang berbeda dari asumsi yang ditetapkan Perum BULOG diakui segera dalam laporan laba rugi konsolidasian dan pada saat terjadi.

Sementara Perum BULOG berkeyakinan bahwa asumsi tersebut adalah wajar dan sesuai, perbedaan signifikan pada hasil aktual atau perubahan signifikan dalam asumsi yang ditetapkan Perum BULOG dapat mempengaruhi secara material liabilitas diestimasi atas pensiun dan imbalan kerja dan beban imbalan kerja neto. Nilai tercatat atas estimasi liabilitas imbalan kerja Perum BULOG pada tanggal 31 Desember 2014 dan 2013 sebesar Rp 43.856.187.423 dan Rp 58.778.222.233 (Catatan 20).

The determination of the Perum BULOG’s obligations and cost for pension and employee benefits liabilitiy is dependent on its selection of certain assumptions used by the independent actuaries in calculating such amounts. Those assumptions include among others, discount rates, future annual salary increase, annual employee turn-over rate, disability rate, retirement age and mortality rate. Actual results that differ from the Perum BULOG’s assumptions are recognized immediately in the profit or loss as and when they occurred.

While Perum BULOG believes that its assumptions are reasonable and appropriate, significant differences in the Perum BULOG’s actual experiences or significant changes in Perum BULOG’s assumptions may materially affect its estimated liabilitiy for pension and employee benefits and net employee benefits expense. The carrying amount of Perum BULOG’s estimated liabilities for employee benefits as of December 31, 2014 and 2013 are Rp 43,856,187,423 and Rp 58,778,222,233, respectively (Note 20).

Pajak Penghasilan Income Tax

Pertimbangan signifikan dilakukan dalam menentukan provisi atas pajak penghasilan badan. Terdapat transaksi dan perhitungan tertentu yang penentuan pajak akhirnya adalah tidak pasti dalam kegiatan usaha normal. Perum BULOG mengakui liabilitas atas pajak penghasilan badan berdasarkan estimasi apakah akan terdapat tambahan pajak penghasilan badan.

Significant judgment is involved in determining the provision for corporate income tax. There are certain transactions and computation for which the ultimate tax determination is uncertain during the ordinary course of business. Perum BULOG recognizes liabilities for expected corporate income tax issues based on estimates of whether additional corporate income tax will be due.








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3. USE OF JUDGMENTS, ESTIMATES AND ASSUMPTIONS (Continued)

Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)

Aset pajak tangguhan Deferred tax assets

Aset pajak tangguhan diakui atas seluruh rugi fiskal yang

belum digunakan sepanjang besar kemungkinannya bahwa penghasilan kena pajak akan tersedia sehingga rugi fiskal tersebut dapat digunakan. Estimasi signifikan oleh manajemen diharuskan dalam menentukan jumlah aset pajak tangguhan yang dapat diakui, berdasarkan saat penggunaan dan tingkat penghasilan kena pajak serta strategi perencanaan pajak masa depan.

Pada tanggal 31 Desember 2014 dan 2013, Perum BULOG memiliki rugi fiskal kumulatif masing-masing sebesar Rp 1.673.950.772.257 dan Rp 1.120.911.335.675, (Catatan 17).

Deferred tax assets are recognized for all deductible temporary differences and unused fiscal losses to the extent that it is probable that taxable profit will be available against which the temporary differences and losses can be utilized. Significant management estimates are required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.

As of December 31, 2014 and 2013, Perum BULOG has fiscal loss carry forwards amounting to Rp 1,673,950,772,257 and Rp 1,120,911,335,675,(Note 17)

4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS 2014 2013

Kas Cash on hand PSO PSO Kas manajemen 1.393.059.649 1.086.761.524 Cash management Kas eksploitasi 1.111.865.221 3.321.689.001 Cash exploitation Kas valas (USD) 267.634.160 610.916.875 Cash in foreign exchange (USD) Kas lain-lain 2.562.501.354 3.043.193.107 Other cash

5.335.060.384 8.062.560.507 Komersial Commercial Kas UB. Bulog Mart 3.712.267.025 1.590.006.805 Cash UB. Bulog Mart Kas UB. UPGB 1.694.036.491 2.177.936.335 Cash UB. UPGB Kas PT JPL 1.372.164.553 4.121.997.411 Cash PT JPL Kas UB. Jastasma 310.869.092 259.925.499 Cash UB. Jastasma Kas UB. Opaset 151.538.423 189.176.411 Cash UB. Opaset Kas UB. Jasang - 86.822.542.306 Cash UB. Jasang

7.240.875.584 95.161.584.767 Sub total 12.575.935.968 103.224.145.274 Sub total Bank Cash in banks PSO PSO PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk 399.911.919.522 439.049.609.631 (Persero) Tbk PT Bank Bukopin Tbk 160.062.599.607 159.109.119.113 PT Bank Bukopin Tbk

PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 3.143.644.797 3.928.334.630 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 203.344.726 906.290.602 PT Bank Mandiri (Persero) Tbk Bank Lainnya 190.630.972 3.222.369.517 Other banks

563.512.139.624 606.215.723.493








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4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued) 2014 2013

Komersial Commercial PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia

(Persero) Tbk 191.419.944.952 89.131.682.050 (Persero) Tbk PT Bank Bukopin Tbk 77.692.731.305 137.610.254.846 PT Bank Bukopin Tbk

PT Bank Mandiri (Persero) Tbk 5.103.859.611 5.437.827.466 PT Bank Mandiri (Persero) Tbk PT Bank Danamon Indonesia Tbk 851.489.254 284.290.714 PT Bank Danamon Indonesia Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 1.882.592 33.747.919 (Persero) Tbk Bank Lainnya 7.778.042.418 451.041.690 Other banks

282.847.950.132 232.948.844.685

Sub total 846.360.089.756 839.164.568.178 Sub total

Uang dalam perjalanan Cash in transit

PSO PSO Droping dana manajemen 198.290.208 2.055.748.632 Fund transfer management

Lainnya 226.987.103 179.478.943 Others

425.277.311 2.235.227.575 ` Komersial - 8.322.660 Commercial

Sub total 425.277.311 2.243.550.235 Sub total

Deposito Time deposits Rupiah Rupiah PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 993.780.497.606 878.231.742.805 (Persero) Tbk PT Bank Bukopin Tbk 230.634.706.000 708.847.467.940 PT Bank Bukopin Tbk

PT Bank Mandiri (Persero) Tbk 88.884.300.000 54.884.300.000 PT Bank Mandiri (Persero) Tbk

1.313.299.503.606 1.641.963.510.745

Dolar Amerika Serikat US Dollar PT Bank Bukopin Tbk 291.577.428.000 639.175.314.300 PT Bank Bukopin Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 23.906.570.000 23.424.210.750 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 14.759.935.600 14.462.126.610 PT Bank Mandiri (Persero) Tbk

330.243.933.600 677.061.651.660

Sub total 1.643.543.437.206 2.319.025.162.405 Sub total

KSO KSO Modal Kerja Komersial 83.350.830 977.055.000 Working Capital - Commercial

Total 2.502.988.091.071 3.264.634.481.092 Total

Modal kerja komersial merupakan dana atau modal kerja yang diserahkan kepada pihak ketiga Perum BULOG untuk kegiatan komersial di Divre-divre pada tanggal 31 Desember 2014 dan 2013.

A commercial working capital or working capital funds are handed over to third parties for Perum BULOG's commercial activities in regional divisions as of December 31, 2014 and 2013.

Suku bunga per tahun deposito berjangka yang berlaku

selama periode berjalan adalah: The annual interest rates of the time deposits during the

period are as follows: 2014 2013

Deposito Rupiah 7,25% - 11% 7,25% - 9,5% Rupiah deposit Deposito Dollar Amerika Serikat 1,5% - 2,75% 1,5% - 3,25% US Dollar deposit








31

5. PIUTANG USAHA 5. TRADE RECEIVABLES

Piutang usaha terdiri dari : This account consists of receivables from:

2014 2013

Piutang usaha Pemerintah Government Departemen Keuangan 677.139.024.240 - Ministry of finance

Pemerintah 114.518.638.139 109.651.702.530 Government Raskin 57.202.125.188 107.441.256.779 Rice subsidy for poor (Raskin)


Piutang usaha non Pemerintah Non-Government PSO PSO Klaim 231.439.598.397 196.521.499.560 Claims Swasta 317.418.332 365.271.967 Swasta BUMN 60.473.170 60.473.170 BUMN


Komersial Commercial Piutang swasta 47.311.781.650 44.737.248.465 Private Pihak ketiga 12.271.685.411 8.014.776.870 Third parties UB. Bulog Mart 5.531.822.272 2.591.428.916 UB. Bulog Mart UB. Opaset 185.762.784 248.854.474 UB. Opaset UB. Jastasma 18.992.589 24.566.892 UB. Jastasma


Total 1.145.997.322.172 469.657.079.623 Total Penyisihan penurunan nilai (193.052.001.691) (189.039.068.327) Allowance for impairment

Total 952.945.320.481 280.618.011.296 Total

Akun ini merupakan saldo piutang di divre-divre, kantor

pusat dan unit bisnis setelah diperhitungkan dengan penyisihan penurunan nilai piutang pada tanggal 31 Desember 2014 dan 2013.

This account represents the outstanding balances of receivables in regional division, head offfice and business unit after deduction of allowance for impairment of receivables at December 31, 2014 and 2013.

Mutasi cadangan penurunan nilai adalah sebagai berikut: Movements in allowance for impairment are as follows:

2014 2013

Saldo awal 189.039.068.327 164.219.104.610 Beginning balance Penyesuaian (60.397.203) 20.352.124.738 Adjustment Cadangan penurunan nilai (Catatan 26) 4.073.330.567 4.467.838.979 Provision for impairment (Note 26)

Neto 193.052.001.691 189.039.068.327 Net

Berdasarkan Surat Menteri Keuangan No.

S-301/MK.02/2014 perihal penetapan margin fee Perum BULOG tanggal 19 Mei 2014, ditetapkan sebesar Rp 50,00/Kg sesuai dengan penyaluran raskin yang terjadi.

Based on the letter of the Minister of Finance No. S-301/MK.02/2014 dated May 19, 2014 concerning the determination of Perum BULOG’s margin fee, it is set at Rp 50,00/kg per raskin actual distribution.

Pada tanggal 12 September 2014, Perum BULOG

menagihkan atas margin fee tahap I dengan No. B-487/II/DK201/09/2014 sebesar Rp 95.307.758.750 dengan penyaluran raskin 1.906.155.175 Kg.

On September 12, 2014, Perum BULOG billed letter No. B-487/II/DK201/09/2014 on margin fee phase I amounting to Rp 95,307,758,750 with raskin distribution of 1,906,155,175 kgs.

Pada tanggal 20 Oktober 2014, Perum BULOG

menagihkan atas margin fee tahap II dengan No. B-551/II/DK201/10/2014 sebesar Rp 11.895.814.500 dengan penyaluran raskin 237.916.290 Kg.

On October 20, 2014, Perum BULOG billed letter No. B-551/II/DK201/10/2014 on margin fee phase II amounting to Rp 11,895,814,500 with raskin distribution of 237,916,290 kgs.








32

5. PIUTANG USAHA (lanjutan) 5. TRADE RECEIVABLES (continued)

Pada tanggal 12 Nopember 2014, Perum BULOG menagihkan atas margin fee tahap III dengan No. B-618/II/DK201/11/2014 sebesar Rp 14.555.432.750 dengan penyaluran raskin 291.108.655 Kg.

On November 12, 2014, Perum BULOG billed letter No. B-618/II/DK201/11/2014 on margin fee phase III amounting to Rp 14,555,432,750 with raskin distribution of 291,108,655 kgs.

Pada bulan Desember 2014, Perum BULOG

menagihkan atas margin fee tahap IV dengan No. B-/II/DK201/11/2014 sebesar Rp 11.566.805.000 dengan penyaluran raskin 231.336.100 Kg.

In December 2014, Perum BULOG billed letter of No. B-/II/DK201/11/2014 on margin fee phase IV amounting to Rp 11,566,805,000 with raskin distribution of 231,336,100 kgs.

Pada tanggal 31 Desember 2014 saldo piutang usaha atas

margin fee sebesar Rp 133.325.811.000. As of December 31 2014, balance of receivable from

margin fee amounting to Rp 133,325,811,000.

6. PIUTANG LAIN-LAIN 6. OTHER RECEIVABLES

Rincian piutang lain-lain adalah sebagai berikut: Details of other receivables are as follows: 2014 2013

PSO PSO Piutang pegawai 38.321.423 138.628.306 Due from employees Lain-lain 30.658.740 368.652.000 Others

Sub total 68.980.163 507.280.306 Sub total Komersial Commercial Lain-lain 59.079.990.288 50.041.796.548 Others

Total 59.148.970.451 50.549.076.854 Total Penyisihan penurunan nilai (48.064.179.874) (44.025.189.785) Allowance for impairment

Total 11.084.790.577 6.523.887.069 Total

Mutasi cadangan penurunan nilai adalah sebagai berikut: Movements in allowance for impairment are as follows: 2014 2013

Saldo awal 44.025.189.785 43.988.424.745 Beginning balance Penyesuaian (1.150.314.291) (25.908.269.508) Adjustment Cadangan penurunan nilai (Catatan 26) 5.189.304.380 25.945.034.548 Provision for impairment (Note 26)

Neto 48.064.179.874 44.025.189.785 Net

7. UANG MUKA 7. ADVANCES

Uang muka terdiri dari: Advances consist of: 2014 2013

PSO PSO Manajemen 17.589.586.159 4.436.368.942 Management Pengadaan 1.202.323.921 1.128.467.883 Procurement Eksploitasi 938.444.850 2.259.086.550 Exploitation Lain-lain 2.635.524.720 3.495.945.023 Others









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7. UANG MUKA (lanjutan) 7. ADVANCES (continued) 2014 2013

Komersial Commercial Pihak ketiga 31.532.062.335 15.005.433.986 Third parties Komersial 335.548.872 1.558.223.604 Commercial UB. Jastasma 325.288.099 214.076.074 UB. Jastasma UB. PGB 278.861.350 1.321.851.650 UB. PGB Opaset 221.908.200 118.816.535 Opaset

Sub total 32.693.668.856 18.218.401.849 Sub total Total 55.059.548.506 29.538.270.247 Total

Akun ini merupakan pemberian uang muka di divre-divre, kantor pusat dan unit bisnis pada tanggal 31 Desember 2014 dan 2013.

This account represents advances in regional division, head office and business unit as of December 31, 2014 and 2013.

8. PERSEDIAAN 8. INVENTORIES

Rincian persediaan adalah sebagai berikut: Details of inventories are as follows: 2014 2013

Barang dagangan 10.687.727.871.327 13.014.152.074.885 Goods inventories Barang dalam perjalanan 254.368.433.611 751.201.496.192 Goods in transit Barang pelengkap/pembantu 86.692.419.215 120.371.282.118 Complementary goods Barang dagangan dalam proses 2.603.849.366 11.606.079.544 Work in process

Total 11.031.392.573.519 13.897.330.932.739 Total

a. Barang dagangan a. Goods inventories

2014 2013

PSO PSO Beras 10.373.405.032.936 12.771.054.407.891 Rice Gabah 130.241.381.479 213.466.768.542 Grain


Komersial Commercial Beras OSHB 96.862.624.226 - Rice OSHB Gula pasir 80.896.319.684 - Refined sugar Bulogmart 3.478.000.881 1.005.158.318 Bulogmart Beras/Gabah UB-PGB 2.147.444.432 8.561.977.703 Rice/grain UB-PGB Beras Non HPP 695.013.113 147.947.186 Rice non HPP Daging 2.054.576 18.630.877.024 Beef Gabah PIB - 282.804.022 Grain PIB Beras PIB - 1.001.719.199 Rice PIB Kedelai - 415.000 Soybean


Total 10.687.727.871.327 13.014.152.074.885 Total

b. Barang dalam perjalanan b. Goods in transit

2014 2013

PSO PSO Beras 249.830.767.156 748.512.237.000 Rice Gula pasir 1.654.545.263 - Refined sugar Barang pelengkap/pembantu Complementary goods Karung pembungkus 2.883.121.192 2.689.259.192 Packaging sacks

Total 254.368.433.611 751.201.496.192 Total








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8. PERSEDIAAN (lanjutan) 8. INVENTORIES (continued)

c. Persediaan barang pelengkap/pembantu c. Complementary goods inventories 2014 2013

PSO PSO Karung pembungkus 72.904.063.276 105.081.483.213 Packaging sacks Obat-obatan 27.052.870 604.607.100 Medicines


Komersial Commercial Karung pembungkus UB-PGB 207.917.238 899.459.430 Packaging sack UB-PGB UB. Opaset 40.697.513 53.982.552 UB. Opaset Obat-obatan (PQC) 2.085.364.842 3.243.178.057 Medicines (PQC) Lainnya - 6.629.463 Others


Penggilingan (Pihak ketiga) Milling (Third parties) Karung pembungkus 11.427.323.476 10.481.942.303 Packaging sacks

Total 86.692.419.215 120.371.282.118 Total

c. Persediaan barang dagangan dalam proses c. Work in process

2014 2013

PSO PSO Beras - 6.741.895.731 Rice Gabah 2.603.849.366 4.864.183.813 Grain

Total 2.603.849.366 11.606.079.544 Total

Perum BULOG tidak mengasuransikan persediaannya. Perum BULOG has no insurance for inventories.

Berdasarkan penelaahan terhadap kondisi persediaan di akhir tahun, manajemen berkeyakinan bahwa persediaan dapat direalisasi pada nilai tercatatnya.

Based on the review of the condition of the inventory at the end of the year, management believes that the inventory can be realized at their carrying values.

Berdasarkan instruksi presiden RI Nomor 3 tahun 2012

tanggal 27 Pebruari bahwa Harga Pembelian Pemerintah (HPP) untuk Gabah Kering Giling (GKG) senilai Rp 4.200/kg di gudang Perum BULOG dan Beras senilai Rp 6.600/kg di gudang Perum BULOG.

Based on instructions from president Number 3 in 2012 date February 27, 2012 that the goverment purchase price (HPP) for Dry Grain Milled (GKG) amount to Rp 4,200/kg in warehouse Perum BULOG and rice amount to Rp 6,600/kg in warehouse Perum BULOG.

Persediaan senilai Rp 11.720.000.000.000 dijadikan

jaminan atas pinjaman kepada PT Bank Rakyat Indonesia (Persero) Tbk (Catatan 15).

Inventory amounted to Rp 11,720,000,000,000 used as collateral to PT Bank Rakyat Indonesia (Persero) Tbk (Note 15).

9. PENDAPATAN YANG MASIH HARUS DITERIMA 9. ACCRUED INCOME

Rincian pendapatan yang masih harus diterima adalah sebagai berikut:

Details of the accrued income are as follows:

2014 2013

Komersial Commercial UB. Jastasma - 2.818.782.032 UB. Jastasma PIB - 8.144.400 PIB

Total - 2.826.926.432 Total








35

10. BIAYA DIBAYAR DI MUKA 10. PREPAID EXPENSES

Rincian biaya dibayar di muka adalah sebagai berikut: Details of prepaid expenses is as follows:

2014 2013

Divre-divre dan Kantor pusat Regional office and head office Biaya umum dan pegawai 2.522.980.416 2.419.701.010 General and employees expenses Biaya lainnya 131.371.998 42.558.007 Others expenses Biaya umum entitas anak 13.718.332 62.143.784 General expenses subsidiary

Total 2.668.070.746 2.524.402.801 Total

Akun ini merupakan biaya dibayar di muka di Divisi

Regional, Kantor pusat dan Unit Bisnis pada tanggal 31 Desember 2014 dan 2013.

This account represents prepaid expenses in regional division, head office and Unit bisnis as of December 31, 2014 and 2013.

2014 2013

Selisih penyaluran OPK 698.627.098.716 4.066.146.544.429 Difference in distribution OPK Klaim kepada PTPN II - 10.693.272.727 Claim to PTPN II Selisih penyaluran Golang - 667.365.786 Difference in distribution Golang Lainnya 4.234.987.713 275.179.944 Others

Total 702.862.086.429 4.077.782.362.886 Total

Selisih Penyaluran OPK merupakan tagihan kepada Pemerintah atas penjualan/distribusi beras kepada penerima manfaat (RASKIN) di Divre-divre yang sampai dengan tanggal 31 Desember 2014 dan 2013 belum dilakukan verifikasi oleh instansi yang berwenang.

Difference in OPK Distribution represents claim from the Government for the sale/distribution of rice to the beneficiaries (the rice) in regional distribution which as of December 31, 2014 and 2013 have not yet been verified by the relevant authorities.

Selisih penyaluran OPK pada tahun 2014 adalah sebesar

Rp 17.891.497.069.155, dan Perum BULOG telah menagih dan menerima pembayaran dari Pemerintah sebesar Rp 17.192.869.966.439 sehingga selisih penyaluran OPK yang belum ditagihkan pada tanggal 31 Desember 2014 sebesar Rp 698.627.098.716.

Difference in OPK distribution in 2014 is Rp 17,891,497,069,155. Perum BULOG has collected and received payment from the Government amounting to Rp 17,192,869,966,439 which resulted to the balance in unbilled OPK distribution as of December 31, 2014 amounted to Rp 698,627,098,716.

11. ASET LANCAR LAINNYA 11. OTHER CURRENT ASSETS

Aset lancar lainnya terdiri dari : Other current assets consist of :








36

12. ASET TETAP 12. FIXED ASSETS

Rincian aset tetap sebagai berikut: The details of fixed assets are as follows:

Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir/Beginning Balance Additions Diposals Reclassification Ending Balance

Biaya Perolehan Acquisition CostDivre-divre dan Regional office and Kantor pusat Headoffice

Tanah 1.789.427.590.317 - - (5.477.696.561) 1.783.949.893.756 LandBangunan 1.399.228.972.067 16.128.234.356 - 28.729.352.138 1.444.086.558.561 BuildingMesin-mesin 403.245.735.039 11.889.595.000 56.435.184.823 12.172.923.266 370.873.068.482 MachineInventaris 178.425.034.877 8.529.254.048 74.985.988.481 (299.340.235) 111.668.960.209 EquipmentKendaraan 20.181.383.695 1.540.504.417 2.635.060.220 (20.646.026) 19.066.181.866 Vehicles

Enitas Anak dan Unit Bisnis Subsidiary and Business UnitTanah 339.673.190 - - - 339.673.190 LandBangunan 2.673.937.681 26.324.100 - - 2.700.261.781 BuildingKendaraan 19.436.893.513 2.408.142.920 - - 21.845.036.433 VehiclesMesin-mesin 580.314.407 1.215.384.644 - - 1.795.699.051 MachineInventaris 26.176.314.140 4.925.389.139 - - 31.101.703.279 Equipment

Total 3.839.715.848.926 46.662.828.624 134.056.233.524 35.104.592.583 3.787.427.036.608 Total

Akumulasi Penyusutan Accumulated DepreciationDivre-divre dan Regional office andKantor pusat Headoffice

Bangunan 1.046.094.548.302 81.938.263.499 - 10.160.310.995 1.138.193.122.796 BuildingMesin-mesin 380.354.699.594 984.302.883 54.764.196.676 24.505.777.622 351.080.583.423 MachineInventaris 160.068.526.049 9.069.958.764 74.156.862.677 1.243.722.228 96.225.344.364 EquipmentKendaraan 19.374.446.804 2.242.762.496 2.320.467.360 (805.218.262) 18.491.523.677 Vehicle

Enitas Anak dan Unit Bisnis Subsidiary and Business UnitKendaraan 1.660.991.953 3.061.234.884 - - 4.722.226.837 VehicleInventaris 17.127.275.573 8.036.053.366 - - 25.163.328.939 EquipmentBangunan 640.554.297 437.275.882 - - 1.077.830.179 BuildingMesin-mesin 114.869.886 448.320.170 - - 563.190.056 Machine

Total 1.625.435.912.458 106.218.171.944 131.241.526.713 35.104.592.583 1.635.517.150.271 Total

Nilai Buku 2.214.279.936.468 2.151.909.886.337 Net Book Value

* termasuk reklasifikasi *include reclassification

2014

Penambahan/ Pengurangan/ Reklasifikasi Reklasifikasi

Saldo Awal/ Additions/ Diposals/ Saldo Akhir/Beginning Balance Reclassification Reclassification Ending Balance

Biaya Perolehan Acquisition CostDivre -divre dan Regional office and Kantor pusat Head office

Tanah 1.973.245.047.636 5.014.339.402 188.831.796.721 * 1.789.427.590.317

Land

Bangunan 1.418.282.304.668 51.712.440.025

70.765.772.626

* 1.399.228.972.067

Building Mesin -mesin 402.128.004.170

1.247.398.869 129.668.000

* 403.245.735.039

Machine Inventaris 203.923.522.331

13.769.057.267

39.267.544.721

* 178.425.034.877 Equipment

Kendaraan 46.195.936.156 2.529.172.001 28.543.724.462

* 20.181.383.695

Vehicles

Entitas Anak dan Unit bisnis Subsidiary and Business unit Tanah 339.673.190

- - 339.673.190

Land Bangunan 2.685.277.973

134.124.811 145.465.103

2.673.937.681

Building Kendaraan 25.513.410.031

7.150.200.870 13.226.717.388

* 19.436.893.513

VehiclesMesin -mesin 518.599.407

61.715.000

- 580.314.407 Machine

Inventaris 18.213.812.726 7.962.501.414 - 26.176.314.140

Equipment

Total 4.091.045.588.288 89.580.949.659

340.910.689.021 3.839.715.848.926

Total

Akumulasi Penyusutan Accumulated Depreciation Divre -divre dan Regional office andKantor pusat Head office

Bangunan 1.010.625.912.635 99.785.766.098

64.317.130.431

1.046.094.548.302

Building Mesin -mes in 358.468.868.570

24.146.450.987

2.260.619.963 380.354.699.594

Machine Inventaris 182.777.511.801

14.079.173.385

36.788.159.137

160.068.526.049 Equipment

Kendaraan 37.006.940.419 2.807.319.131 20.439.812.746

19.374.446.804

Vehicle

Entitas Anak dan Unit bisnis Subsidiary and Business unit Kendaraan 12.677.593.066

1.996.018.280 13.012.619.393

1.660.991.953 Vehicle

Inventaris 12.671.096.340 5.752.564.813 1.296.385.580

17.127.275.573

EquipmentBangunan

763.943.219 11.999.977

135.388.899

640.554.297 Building

Mesin -mesin 114.869.886 -

- 114.869.886 Machine

Total 1.615.106.735.936 148.579.292.671 138.250.116.149 1.625.435.912.458

Total

Nilai Buku 2.475.938.852.352 2.214.279.936.468

Net Book Value

* termasuk reklasifikasi *include reclassification

2013








37

12. ASET TETAP (lanjutan) 12. FIXED ASSETS (continued)

Beban penyusutan untuk tahun yang berakhir pada tanggal 31 Desember 2014 dan 2013 adalah masing-masing sebesar Rp 106.218.171.944 danRp 148.579.292.671.

Depreciation changed for the years ended December 31, 2014 and 2013, amounted to Rp 106,218,171,944 and Rp 148,579,292,671.

Perum BULOG telah mengasuransikan aset tetap, alat berat serta mesin dan instalasi dari resiko kebakaran, ledakan, petir dan bencana alam lainnya dengan nilai pertanggungan sebesar Rp 9.983.622.933.590 dan Rp 3.372.265.847.279 untuk tahun 2014 dan 2013.

Perum BULOG has insured its assets, heavy equipment and machinery and installations from the risk of fire, explosion, lightning and other natural disasters with a total coverage of Rp 9,983,622,933,590 and Rp 3,372,265,847,279 in 2014 and 2013, respectively.

Berdasarkan hasil penelaahan manajemen, tidak terdapat indikasi penurunan nilai atas aset tetap.

Based on the review of the management, there is no indication of impairment of fixed assets.

2014

Harga jual 3.093.467.139 Sale proceeds Nilai buku 2.891.284.548 Net book value

Keuntungan penjualan Net gain on the sale of aset tetap 202.182.591 fixed assets

13. PROPERTI INVESTASI 13. INVESTMENT PROPERTY

Properti Investasi terdiri dari: Investment property consist of:

2014

Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir Beginning Balance Additions Diposals Reclassification Ending Balance

Biaya Perolehan Acquisition Cost Tanah 179.458.772.020 - - 2.048.155.500 181.506.927.520 Land Bangunan 74.633.782.319 - - (2.735.161.995) 71.898.620.324 Building

` Total 254.092.554.339 - - (687.006.495) 253.405.547.844 Total

Akumulasi Penyusutan Accumulated Depreciation

Bangunan 67.640.476.807 1.621.521.690 - 1.004.647.920 70.266.646.417 Building

Nilai Buku 186.452.077.532 183.138.901.427 Net Book Value 2013

Saldo Awal/ Penambahan/ Pengurangan/ Reklasifikasi/ Saldo Akhir Beginning Balance Additions Diposals Reclassification Ending Balance

Biaya Perolehan Acquisition Cost Tanah - - - 179.458.772.020 179.458.772.020 Land Bangunan 2.590.059.719 - - 72.043.722.600 74.633.782.319 Building

` Total 2.590.059.719 - - 251.502.494.620 254.092.554.339 Total

Akumulasi Penyusutan Accumulated Depreciation

Bangunan 1.295.029.858 1.309.477.824 - 65.035.969.125 67.640.476.807 Building

Nilai Buku 1.295.029.861 186.452.077.532 Net Book Value

Beban penyusutan yang dibebankan pada tahun berjalan adalah sebesar Rp 1.621.521.690 dan Rp 1.309.477.824 untuk 31 Desember 2014 dan 2013.

Pendapatan sewa yang diterima dari properti investasi masing-masing sebesar Rp 63.430.957.981 dan Rp 52.253.234.416 pada tahun 2014 dan 2013.

Depreciation expense charged to the current year amounted to Rp 1,621,521,690 and Rp 1,309,477,824 for the years ended December 31, 2014 and 2013, respectively.

Rental income earned from this investment property amounted to Rp 63,430,957,981 and Rp 52,253,234,416 in 2014 and 2013, respectively.








38

14. ASET LAIN-LAIN 14. OTHER ASSETS

Rincian aset lain-lain adalah sebagai berikut: Other assets consists of:

2014 2013

Deposito yang dijaminkan Restricted deposits Rupiah Rupiah

PT Bank Bukopin Tbk 579.892.322.940 27.818.000.000 PT Bank Bukopin Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 582.762.471.735 671.564.771.745 (Persero) Tbk

Dolar Amerika US Dollar PT Bank Bukopin Tbk 149.280.000.000 - PT Bank Bukopin Tbk

Pihak ketiga 28.200.225.688 - Third parties Bank hasil penjualan 220.603.958.103 204.366.674.901 Sale proceeds in banks Aset lainnya 30.535.967.892 20.894.888.633 Other assets

Nilai Tercatat 1.591.274.946.358 924.644.335.279 Net Book Value

a. Bank hasil penjualan terdiri dari: a. Sale proceeds in banks consist of:

2014 2013

Bank hasil penjualan Sales proceeds in banks PSO PSO PT Bank Bukopin Tbk 40.915.807.336 101.581.851.852 PT Bank Bukopin Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 167.513.139.506 100.481.016.634 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 107.787.917 359.689.324 PT Bank Bukopin Tbk Bank Lainnya 5.126.594.178 607.348.503 Other banks


Bank hasil penyaluran yang Sales proceeds in banks that have belum dilimpahkan not been assigned

PSO 6.940.629.166 1.336.768.588 PSO

Total 220.603.958.103 204.366.674.901 Total

Bank hasil penjualan adalah akun bank yang dimiliki oleh divre-divre dan kantor pusat yang digunakan untuk penerimaan dari penjualan, yang penggunaannya dibatasi untuk pembayaran utang bank.

Sale proceeds in banks are banks accounts of the regional office and head office use to receive proceeds from sale which are restricted for payment of bank loans.

b. Aset lainnya: b. Other assets:

2014 2013

Divre-divre dan Kantor pusat Regional office and headoffice Aset dalam pelaksanaan 21.027.927.924 12.022.966.106 Assets in progress Lainnya 9.508.039.969 8.871.922.527 Others

Total 30.535.967.893 20.894.888.633 Total

15. UTANG BANK 15. BANK LOANS

Rincian utang bank adalah sebagai berikut: Bank loans consist of: 2014 2013

PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 10.808.827.450.787 9.643.005.838.548 (Persero) Tbk PT Bank Bukopin Tbk 2.131.989.154.079 3.782.187.997.395 PT Bank Bukopin Tbk

Total 12.940.816.604.866 13.425.193.835.943 Total








39

15. UTANG BANK 15. BANK LOANS

a. PSO: a. PSO:

2014 2013

PT Bank Bukopin Tbk 2.131.971.148.951 3.782.170.126.290 PT Bank Bukopin Tbk PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 10.805.561.712.399 9.632.512.291.678 (Persero) Tbk


b. Komersial: b. Commercial: 2014 2013

PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 3.265.738.388 10.493.546.870 (Persero) Tbk PT Bank Bukopin Tbk 18.005.128 17.871.105 PT Bank Bukopin Tbk


Total 12.940.816.604.866 13.425.193.835.943 Total

PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk Berdasarkan Surat Menteri Keuangan Nomor S-122/MK.02/2014 tanggal 27 Pebruari 2014 perihal Persetujuan Jaminan Pemerintah tahun 2014, menunjuk surat Perum BULOG Nomor B-20/II/DK.101/01/2014 tanggal 15 Januari 2014 perihal Jaminan pemerintah untuk PSO BULOG tahun anggaran 2014 dan memperhatikan ketentuan Pasal 7 Peraturan Menteri Keuangan Nomor 237/PMK.02/2012 tanggal 26 Desember 2012 tentang Tata Cara Penyediaan, Perhitungan, Pembayaran, dan Pertanggungjawaban Subsidi Beras Bagi Masyarakat Berpendapatan Rendah, maka untuk keperluan penugasan pemerintah kepada Perum BULOG, besaran kredit perbankan yang dijamin Pemerintah adalah sebesarRp 5.280.000.000.000.

Based on the Minister of Finance Letter No. S-122/MK.02/2014 dated February 27, 2014 regarding the Government Guarantee Agreement in 2014, with reference to Perum BULOG letter No. B-20/II/DK.101/01/2014 dated January 15, 2014, concerning government guarantee for PSO BULOG for fiscal year 2014 and the provisions of Article 7 of the Minister of Finance Regulation No. 237/PMK.02/2012 dated December 26, 2012 concerning Procedures for Supply, Calculation, Payment and Accountability of Rice Subsidy for Low Income Communities, for the purpose of the government assignment to Perum BULOG, the amount of bank loans guaranteed by the Government is Rp 5,280,000,000,000.

Untuk pendanaan PSO berlaku ketentuan dari PT Bank Rakyat Indonesia (Persero) Tbk, sebagai berikut: Biaya provisi sebesar 0,50%. Biaya administrasi dan manajemen sebesar 0,25% dari

L/C cair. Denda sebesar 50% dari suku bunga yang berlaku

terhadap keterlambatan pokok dan bunga. Bunga dihitung dengan formula (bunga JIBOR 3 bulan

+ 2% p.a).

PSO funding provisions of PT Bank Rakyat Indonesia (Persero) Tbk has the following provisions: Cost of provision of 0.50%. Administration and management costs of 0.25% of

liquid L/C. penalty of 50% of the applicable interest rate

principal and interest delay. Interest is calculated by the formula (3 month JIBOR

rate + 2% p.a).

Kredit Modal Kerja PSO TA 2013 PSO Working Capital for FY 2013

Pada tanggal 30 Desember 2013, Perum BULOG menandatangani surat perjanjian kredit modal kerja PSO untuk tahun anggaran 2013 dengan No. 072/2013. Plafon yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk adalah sebesar Rp 17.000.000.000.000, perjanjian kredit ini akan berakhir pada tanggal 31 Maret 2014.

On December 30, 2013, Perum BULOG signed a credit agreement for PSO working capital for fiscal year 2013 with Letter No. 072/2013. The credit limit provided by PT Bank Rakyat Indoneisa (Persero) Tbk is Rp 17,000,000,000,000, this agreement will end on March 31, 2014.

Pada tanggal 17 Pebruari 2014, Perum BULOG menandatangani surat addendum pertama perjanjian kredit modal kerja PSO untuk tahun anggaran 2013 dengan No. 050/2014. Dengan penurunan plafon yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk yang semula sebesar Rp 17.000.000.000.000 menjadi Rp 9.342.922.976.566, perjanjian kredit ini akan berakhir pada tanggal30 Juni 2014.

On February 17, 2014, Perum BULOG signed the first addendum of the PSO working capital loan agreement for fiscal year 2013 with Letter No. 050/2014. The amendment is regarding the decrease of the credit limit provided by PT Bank Rakyat Indonesia (Persero) Tbk from Rp 17,000,000,000,000 to Rp 9,342,922,976,566, this agreement will will end on June 30, 2014.








40

15. UTANG BANK (lanjutan) 15. BANK LOANS (continued)

PT Bank Rakyat Indonesia (Persero) Tbk (lanjutan) PT Bank Rakyat Indonesia (Persero) Tbk (continued)

Pada tanggal 27 Juni 2014, Perum BULOG menandatangani surat addendum kedua perjanjian kredit modal kerja PSO untuk tahun anggaran 2013 dengan No. 078/2014. Plafon yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk adalah sebesarRp 9.342.922.976.566, perjanjian kredit yang akan berakhir pada tanggal 30 Juni 2014 diperpanjang menjadi tanggal 30 September 2014.

On June 27, 2014, Perum BULOG signed second addendum letter of the PSO working capital loan agreement for fiscal year 2013 with Letter No. 078/2014. The credit limit provided by PT Bank Rakyat Indonesia (Persero) Tbk amounting to Rp 9,342,922,976,566that will end on June 30, 2014 has been extended until September 30, 2014.

Pada tanggal 24 Juli 2014, Perum BULOG menandatangani surat addendum ketiga perjanjian kredit modal kerja PSO untuk tahun anggaran 2013 dengan No. 099/2014. Dengan penurunan plafon yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk yang semula sebesar Rp 9.342.922.976.566 menjadi Rp 7.576.056.499.785, perjanjian kredit ini akan berakhir pada tanggal 30 September 2014.

On July 24, 2014, Perum BULOG signed third addendum letter of the PSO working capital loan agreement for fiscal year 2013 with Letter No. 099/2014. The amendment is regarding the decrease of the credit limit provided by PT Bank Rakyat Indonesia (Persero) Tbk from Rp 9,342,922,976,566 to Rp 7,576,056,499,785, this agreement will end on September 30, 2014.

Kredit modal kerja dijamin dengan agunan kredit, sebagai berikut: - Surat jaminan pemerintah Menteri Keuangan Republik

Indonesia No: S-28/MK.02/2013 tanggal 16 Januari 2013 sebesar Rp 4.300.000.000.000.

- Surat jaminan pemerintah Menteri Keuangan Republik Indonesia No: S-326/MK.02/2013 tanggal 1 Mei 2013 sebesar Rp 11.365.277.437.000

- Jaminan fidusia berupa persediaan beras sebesar Rp 5.643.722.563.000.

The loan is collateralized, as follows: - Indonesian Government Guarantee in accordance with

Minister of Finance Letter No: S-28/MK.02/2013 dated January 16, 2013 amounted to Rp 4,300,000,000,000.

- Indonesian Government Guarantee in accordance with Minister of Finance Letter No: S-326/MK.02/2013 dated May 1, 2013 amounted Rp 11,365,277,437,000.

- Fiduciary collateral in the form of rice supplies amounted Rp 5,643,722,563,000.

Kredit Modal Kerja PSO TA 2014 PSO Working Capital for FY 2014

Pada tanggal 17 Maret 2014, Perum BULOG menandatangani surat perjanjian kredit modal kerja PSO untuk tahun anggaran 2014 denganNo. 051/2014. Plafon yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk adalah sebesar Rp 17.000.000.000.000, perjanjian kredit ini akan berakhir pada tanggal 31 Desember 2014 dan sedang dalam proses perpanjangan.

On March 17, 2014, Perum BULOG signed PSO working capital credit facility for fiscal year 2014 with Letter No. 051/2014. The credit limit provided by PT Bank Rakyat Indonesia (Persero) Tbk amounting to Rp 17,000,000,000,000, this agreement will end on December 31, 2014 and is in the process of renewal.

Kredit modal kerja dijamin dengan agunan kredit, sebagai berikut: - Jaminan pemerintah Menteri Keuangan Republik

Indonesia sebesar Rp 17.000.000.000.000 - Jaminan fidusia berupa persediaan beras sebesar

Rp 11.720.000.000.000 (Catatan 8).

The loan is collateralized, as follows: - Indonesian Government Guarantee in accordance with

Minister of Finance amounted Rp 17,000,000,000,000. - Fiduciary collateral in the form of rice supplies

amounted Rp 11,720,000,000,000 (Note 8).

Sesuai dengan tanggal laporan diterbitkan perpanjangan kredit modal kerja PSO TA 2014 masih dalam proses

Based on reporting date, renewal of working capital credit facility is in process.

Kredit Modal Kerja dengan Agunan Kas Cash Collateral Guarantee Working Capital

Pada tanggal 7 Januari 2014, Perum BULOG menandatangani surat perjanjian kredit modal kerja dengan PT Bank Rakyat Indonesia (Persero) Tbk sebesar Rp 750.000.000.000 dengan agunan kas (Deposito).

On January 7, 2014, Perum BULOG signed Working Capital credit facility agreement with PT Bank Rakyat Indonesia (Persero) Tbk amounting to Rp 750,000,000,000 with cash collateral (Deposit) Guarantee.

Kredit Modal Kerja (KMK) dengan jangka waktu kredit sejak tanggal akad kredit s/d 28 Pebruari 2014. Suku bunga yang dikenakan adalah Deposito 1 bulan Perum BULOG ditambah 1% per tahun dan ditinjau kembali setiap awal bulannya.

Working Capital Credit (KMK) has a loan period from loan agreement date until February 28, 2014. Interest is charged at Perum BULOG 1 month deposit plus 1% per annum subject for review every beginning of each month.

Jaminan kredit Deposito PT Bank Rakyat Indonesia (Persero) Tbk atas nama Perum BULOG yang akan diserahkan dan diblokir sebesar Rp 790.000.000.000 dan disimpan di Kantor Cabang Khusus PT Bank Rakyat Indonesia (Persero) Tbk.

Loan guarantee deposits of PT Bank Rakyat Indonesia (Persero) Tbk on behalf of Perum BULOG that will be submitted and blocked amounted Rp 790,000,000,000 to be kept in the Special Branch Office of PT Bank Rakyat Indonesia (Persero) Tbk.








41


PT Bank Rakyat Indonesia (Persero) Tbk (lanjutan) PT Bank Rakyat Indonesia (Persero) Tbk (continued)

Kredit Modal Kerja dengan Agunan Kas (lanjutan) Cash Collateral Guarantee Working Capital (continued)

Pada tanggal 10 Maret 2014, Perum BULOG menandatangani surat addendum perjanjian kredit modal kerja dengan surat No. 060 A/2014 dengan penambahan Plafon yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk yang semula sebesarRp 750.000.000.000 menjadi Rp 1.250.000.000.000.

On March 10, 2014, Perum BULOG signed addendum of Working Capital credit facility with letter No. 060 A/2014 which increase the credit limit provided by PT Bank Rakyat Indonesia (Persero) Tbk from Rp 750,000,000,000 to Rp 1,250,000,000,000.

Pada tanggal 31 Desember 2014 saldo utang bank pada PT Bank Rakyat Indonesia (Persero) Tbk sebesar Rp 10.808.827.450.787.

As of December 31, 2014, the balance of the bank loans to PT Bank Rakyat Indonesia (Persero) Tbk amounted to Rp 10,808,827,450,787.

PT Bank Bukopin Tbk PT Bank Bukopin Tbk Berdasarkan Surat Menteri Keuangan Nomor S-122/MK.02/2014 tanggal 27 Pebruari 2014 perihal Persetujuan Jaminan Pemerintah tahun 2014, menunjuk surat Perum BULOG Nomor B-20/II/DK.101/01/2014 tanggal 15 Januari 2014 perihal Jaminan pemerintah untuk PSO BULOG tahun anggaran 2014 dan memperhatikan ketentuan Pasal 7 Peraturan Menteri Keuangan Nomor 237/PMK.02/2012 tanggal 26 Desember 2012 tentang Tata Cara Penyediaan, Perhitungan, Pembayaran, dan Pertanggungjawaban Subsidi Beras Bagi Masyarakat Berpendapatan Rendah, maka untuk keperluan penugasan pemerintah kepada Perum BULOG, besaran kredit perbankan yang dijamin Pemerintah adalah sebesarRp 5.280.000.000.000.

Based on the letter of the Minister of Finance No. S-122/MK.02/2014 dated February 27, 2014 regarding the Government Guarantee Agreement in 2014, pointing to a letter dated Perum BULOG No. B-20/II/DK.101/01/2014 dated January 15, 2014, concerning the government guarantee PSO BULOG for fiscal year 2014 and concerning the Government Credit Guarantees 2012 and observe the provisions of Article 7 of the Regulation of the Minister of Finance No. 237/PMK.02/2012 dated December 26, 2012 on the Procedure for Provision, calculation, Payment and Accountability Rice Subsidy for Low Income Communities, then for the purposes of the assignment of the government to Perum BULOG, the amount of bank credit guaranteed by the Government isRp 5,280,000,000,000.

Untuk pendanaan PSO berlaku ketentuan dari PT Bank Bukopin Tbk, sebagai berikut: Biaya provisi sebesar 0,50%. Biaya administrasi dan manajemen sebesar 0,25% dari

L/C cair. Denda sebesar 5% dari total jumlah tertunda.. Bunga dihitung dengan formula (bunga JIBOR 3 bulan

+ 2% p.a).

PSO funding provisions of PT Bank Bukopin Tbk has the following provisions: Cost of provision of 0.50%. Administration and management costs of 0.25% of

the liquid L/C. Penalty of 5% of total delayed payment Interest is calculated by the formula (3 month JIBOR

rate + 2% p.a).








42


PT Bank Bukopin Tbk (lanjutan) PT Bank Bukopin Tbk (continued)

Utang pada PT Bank Bukopin Tbk adalah berupa Kredit Modal Kerja Pengadaan Gabah dan Beras, sebagai berikut:

Loan to PT Bank Bukopin Tbk is in the form of Working Capital Procurement Grain and Rice, as follows:

Pada tanggal 25 April 2014, Perum BULOG menandatangani surat perjanjian pemberian fasilitas kredit pengadaan gabah dan beras atas nama Perum BULOG TA 2014 (Master Budget) No. XLIV/012/BUKI/ PK.PRK/IV/2014, sebagai berikut:

On April 25, 2014, Perum BULOG signed a credit facility agreement for grain and rice procurement FY 2014 (Master Budget) No. XLIV/012/BUKI/ PK.PRK/IV/2014, with details as follows:

Fasilitas kredit modal kerja dengan plafon sebesarRp 110.000.000.000 yang digunakan untuk: - Pengadaan gabah dan beras luar negeri dan dalam

negeri TA 2014; - Pembayaran biaya eksploitasi pengadaan gabah dan

beras TA 2014; - Pembayaran biaya menajemen pengadaan gabah dan

beras TA 2014; - Pembayaran biaya bank pengadaan gabah dan beras

TA 2014; dan - Penampungan bunga komersil pengadaan gabah dan

beras TA 2014.

Tingkat suku bunga yang dikenakan adalah sebesar 2,0% p.a diatas suku bunga JIBOR 3 bulanan pada hari kerja pertama bulan tersebut dengan jangka waktu sampai dengan 31 Desember 2014. Jaminan atas pinjaman tersebut adalah Penjaminan Pemerintah RI dalam bentuk Anggaran Pendahuluan dan Master Budget sesuai Surat Menteri Keuangan No. S-122/MK.02/2014 tanggal 27 Pebruari 2012 perihal “Persetujuan Jaminan Kredit Perbankan".

Working capital credit facility with a credit limit ofRp 110,000,000,000 used for: - Procurement of grain and rice from overseas and

domestic for FY 2014; - Payment of procurement of grain and rice operation

expenses for FY 2014; - Payment of procurement of grain and rice

management expenses for FY 2014; - Payment of procurement of grain and rice bank

charges for FY 2014, and - Storage commercial interest for procurement of grain

and rice FY 2014.

The interest rate is charged at 3 month JIBOR plus 2% per annum on the first working day of the month until December 31, 2014. The loan is collateralized by the Indonesian Government Guarantee in the form of the Preliminary Budget and Master Budget in accordance with Minister of Finance Letter No. S-122/MK.02/2014 dated February 27, 2012, regarding "Bank Credit Facility Guarantee Approval".

Pada tanggal 17 Juni 2014, Perum BULOG menandatangani surat penambahan plafon fasilitas kredit pengadaan gabah dan beras TA 2014 (Master Budget) No. XLIV/058/BUKI/ADD.PK-PRK/VI/2014 mengenai penambahan fasilitas kredit modal kerja dengan plafon yang semula sebesar Rp 110.000.000.000 menjadi Rp 210.000.000.000.

On June 17, 2014, Perum BULOG signed the credit facility agreement for grain and rice procurement FY 2014 (Master Budget) No. XLIV/058/BUKI/ADD.PK-PRK/VI/2014 which increase the working capital credit facility credit limit from Rp 110,000,000,000 to Rp 210,000,000,000.

Pada tanggal 10 Juli 2014, Perum BULOG menandatangani surat penambahan plafon fasilitas kredit pengadaan gabah dan beras atas nama Perum BULOG TA 2014 (Master Budget) No. XLIV/077/BUKI/ADD.PK-PRK/VII/2014, mengenai penambahan fasilitas kredit modal kerja dengan plafon yang semula sebesar Rp210.000.000.000 menjadi Rp 510.000.000.000.

On July 10, 2014, Perum BULOG signed the credit facility agreement for grain and rice procurement FY 2014 (Master Budget) No. XLIV/077/BUKI/ADD.PK-PRK/VII/2014, which increase the working capital credit facility credit limit from Rp 210,000,000,000 to Rp 510,000,000,000.

Pada tanggal 29 Agustus 2014, Perum BULOG menandatangani surat penambahan plafon fasilitas kredit pengadaan gabah dan beras atas nama Perum BULOG TA 2014 (Master Budget) No. XLIV/115/BUKI/ADD.PK-PRK/VIII/2014, mengenai penambahan fasilitas kredit modal kerja dengan plafon yang semula sebesar Rp 510.000.000.000 menjadi Rp 1.260.000.000.000.

On August 29, 2014, Perum BULOG signed the credit facility agreement for grain and rice procurement FY 2014 (Master Budget) No. XLIV/115/BUKI/ADD.PK-PRK/VIII/2014, which increase the working capital credit facility credit limit from Rp 510,000,000,000 to Rp 1,260,000,000,000.








43


PT Bank Bukopin Tbk (lanjutan) PT Bank Bukopin Tbk (continued)

Pada tanggal 16 September 2014, Perum BULOG menandatangani surat penambahan plafon fasilitas kredit pengadaan gabah dan beras atas nama Perum BULOG TA 2014 (Master Budget) No. XLIV/130/BUKI/ADD.PK-PRK/IX/2014, mengenai penambahan fasilitas kredit modal kerja dengan plafon yang semula sebesar Rp 1.260.000.000.000 menjadi Rp 1.800.000.000.000.

On September 16, 2014, Perum BULOG signed the credit facility agreement for grain and rice procurement FY 2014 (Master Budget) No. XLIV/130/BUKI/ADD.PK-PRK/IX/2014, which increase the working capital credit facility credit limit from Rp 1,260,000,000,000 to Rp 1,800,000,000,000

Pada tanggal 25 September 2014, Perum BULOG menandatangani surat penambahan plafon fasilitas kredit pengadaan gabah dan beras atas nama Perum BULOG TA 2014 (Master Budget) No. XLIV/144/BUKI/ADD.PK-PRK/IX/2014, mengenai penambahan fasilitas kredit modal kerja dengan plafon yang semula sebesar Rp 1.800.000.000.000 menjadi Rp 2.500.000.000.000.

On September 25, 2014, Perum BULOG signed the credit facility agreement for grain and rice procurement FY 2014 (Master Budget) No. XLIV/144/BUKI/ADD.PK-PRK/IX/2014, which increase the working capital credit facility credit limit from Rp 1,800,000,000,000 to Rp 2,500,000,000,000

Pada tanggal 31 Desember 2014 saldo utang bank kepada PT Bank Bukopin Tbk sebesar Rp 2.131.989.154.079. Kredit modal kerja dijamin dengan jaminan pemerintah Menteri Keuangan Republik Indonesia sebesar Rp 17.000.000.000.000.

As at December 31,2014, the outstanding balance of PT Bank Bukopin Tbk bank loan amounted Rp 2,131,989,154,079. The bank loan is collateralized by Indonesian Government Guarantee in accordance ith Minister of Finance amounted Rp 17,000,000,000,000.

16. UTANG USAHA 16. TRADE PAYABLES

Akun ini terdiri dari: This account consists of: 2014 2013

Pemerintah (Catatan 21) 1.142.777.128.274 1.142.777.128.274 Government (Note 21)

Pihak ketiga Third parties Penyaluran 1.468.565.344.444 2.823.836.750.548 Distribution Pengadaan 3.669.668.687 3.302.601.514 Procurement Lainnya 82.293.670.994 111.551.510.736 Others

1.554.528.684.125 2.938.690.862.798

Total 2.697.305.812.399 4.081.467.991.072 Total

a. Utang penyaluran beras: a. Distribution:

2014 2013

Cadangan beras pemerintah 1.299.047.839.625 2.659.901.012.531 Government rice stocks Golongan anggaran (Beras) 168.501.578.755 163.521.689.667 Budget group (Rice) Operasi pasar (Beras) 670.986.131 31.800 Market operations (Rice) BUMN (Beras) 23.195.933 80.164.063 BUMN (Rice) Lainnya (Beras) 321.744.000 333.852.487 Others (Rice)

Total 1.468.565.344.444 2.823.836.750.548 Total

Pada tahun 2014, terdapat beberapa kontrak jual beli beras antara Perum BULOG dengan Panglima Tentara Nasional Indonesia yang diwakili oleh Kepala Badan Pembekalan TNI guna mendukung kegiatan Operasi Pamrahwan, Pamtas, Pam P. Terluar, Piket/Jaga dan operasi Gaktib/Yustisi yaitu sebagai berikut:

In 2014, there are several sales and purchase agreement between Perum BULOG and Indonesian Armed Forces, represented by the head of the military of procurement to support Operasi Pamrahwan, Pamtas, Pam P. Terluar, Piket/Jaga dan operasi Gaktib/Yustisi with details as follows:








44

16. UTANG USAHA (lanjutan) 16. TRADE PAYABLES (continued)

a. Utang penyaluran beras (lanjutan): a. Distribution (continued):

a. Surat Mabes TNI No. KJB-

18/DN/KAN/VIII/2014/Babek Tanggal 28 Agustus 2014 perihal alokasi beras operasi Pamrahwan, Pamtas dan Pam P. Terluar periode bulan Januari sampai dengan Agustus tahun anggaran 2014 sebanyak 1.344.965 Kg.

a. Letter Mabes TNI No. KJB-92/DN/KAN/IV/2013/Babek dated August 28, 2014 concerning the supply of rice for Pamrahwan, Pamtas, Pam P. Terluar operations for the period January to August fiscal year 2014 for a total of 1,344,965 kgs.

b. Surat Mabes TNI No. KJB-

19/DN/KAN/VIII/2014/Babek Tanggal 29 Agustus 2014 perihal pelaksanaan pengadaan beras guna mendukung kegiatan Piket/Jaga Triwulan I dan Triwulan IV sebanyak 177.353 Kg.

b. Letter Mabes TNI No. KJB-19/DN/KAN/VIII/2014/Babek dated August 28, 2014 concerning the supply of rice to support the Piket/Jaga activities for the 1st quarter to 4th quarter for a total of 177,353 kgs.

c. Surat Mabes TNI No. KJB-

20/DN/KAN/IX/2014/Babek Tanggal 4 September 2014 perihal alokasi beras operasi Pamrahwan, Pamtas dan Pam P. terluar periode bulan September tahun anggaran 2014 sebanyak 147.480 Kg.

c. Letter Mabes TNI No. KJB-20/DN/KAN/IX/2014/Babek dated September 4, 2014 concerning the supply of rice for Pamrahwan, Pamtas, Pam P. Terluar operations for the period of September fiscal year 2014 for a total of 147,480 kgs.

d. Surat Mabes TNI No. KJB-

21/DN/KAN/IX/2014/Babek Tanggal 22 September 2014 perihal pengadaan beras guna mendukung kegiatan operasi Gaktib/Yustisi triwulan III tahun anggaran 2014 sebanyak 26.910 Kg.

d. Letter Mabes TNI No. KJB-21/DN/KAN/IX/2014/Babek dated September 22, 2014, concerning the supply of rice in support of Gaktib/Yuktisi operations for the 3rd quarter in fiscal year 2014 for a total of 26,910 kgs.

e. Surat Mabes TNI No. KJB-

22/DN/KAN/IX/2014/Babek Tanggal 26 September 2014 perihal alokasi beras operasi rutin triwulan III tahun anggaran 2014 sebanyak 12.878 Kg.

e. Letter Mabes TNI No. KJB-22/DN/KAN/IX/2014/Babek dated September 26, 2014 concerning the supply of rice for routines operations for the 3rd quarter fiscal year 2014 for a total of 12,878 kgs.

f. Surat Mabes TNI No. KJB-

23/DN/KAN/IX/2014/Babek Tanggal 6 Oktober 2014 perihal pelaksanaan pengadaan beras guna mendukung kegiatan Piket/Jaga Triwulan III sebanyak 93.535 Kg.

f. Letter Mabes TNI No. KJB-23/DN/KAN/IX/2014/Babek dated October 6, 2014 concerning the supply of rice to support the Piket/Jaga activities for the 3rd quarter for a total of 93,535 kgs.

g. Surat Mabes TNI No. KJB-

24/DN/KAN/X/2014/Babek Tanggal 20 Oktober 2014 perihal alokasi beras operasi Pamrahwan, Pamtas dan Pam P. terluar periode bulan Oktober tahun anggaran 2014 sebanyak 136.358 Kg.

g. Letter Mabes TNI No. KJB-24/DN/KAN/X/2014/Babek dated October 20, 2014 concerning the supply of rice for Pamrahwan, Pamtas and Pam P. Terluar operations for the period of October fiscal year 2014 for a total of 136,358 kgs.

h. Surat Mabes TNI No. KJB-

25/DN/KAN/X/2014/Babek Tanggal 30 Oktober 2014 perihal pengadaan beras guna mendukung logistic operasi Pamrahwan Kodam XVI/Ptm perbantuan Pemerintah Maluku bulan Agustus dan September tahun anggaran 2014 sebanyak 16.504 Kg.

h. Letter Mabes TNI No. KJB-25/DN/KAN/X/2014/Babek dated October 30, 2014 concerning the supply of rice for supporting operations logistic Pamrahwan Kodam XVI/Ptm in support of Maluku’s Government, for August and September fiscal year 2014 for a total of 16,504 kgs.

i. Surat Mabes TNI No. KJB-

26/DN/KAN/XI/2014/Babek Tanggal 3 Nopember 2014 perihal alokasi beras operasi rutin triwulan IV tahun anggaran 2014 sebanyak 12.878 Kg.

i. Letter Mabes TNI No. KJB-26/DN/KAN/XI/2014/Babek dated November 3, 2014 concerning the supply of rice for routines operations for the 4th quarter in fiscal year 2014 for a total of 12,878 kgs.

j. Surat Mabes TNI No. KJB-

27/DN/KAN/XI/2014/Babek Tanggal 10 Nopember 2014 perihal alokasi beras operasi Pamrahwan Kodam XVI/Ptm dan operasi Gaktib/Yustisi Triwulan IV tahun anggaran 2014 sebanyak 36.220 Kg.

j. Letter Mabes TNI No. KJB-27/DN/KAN/XI/2014/Babek dated November 10, 2014 concerning the supply of rice for Pamrahwan Kodam XVI/Ptm and Gaktib/Yustisi operations for the 4th quarter fiscal year 2014 for a total of 36,220 kgs.








45


a. Utang penyaluran beras (lanjutan): a. Distribution (continued):

k. Surat Mabes TNI No. KJB-

28/DN/KAN/XI/2014/Babek Tanggal 21 Nopember 2014 perihal alokasi beras operasi Pamrahwan, Pamtas dan Pam P. terluar periode bulan Nopember tahun anggaran 2014 sebanyak 140.962 Kg.

k. Letter Mabes TNI No. KJB-28/DN/KAN/XI/2014/Babek dated November 21, 2014 concerning the supply of rice Pamrahwan, Pamtas and Pam P. Terluar operations for November fiscal year 2014 for a total of 140,962 kgs.

l. Surat Mabes TNI No. KJB-

29/DN/KAN/XII/2014/Babek Tanggal 1 Desember 2014 perihal alokasi beras operasi Pamrahwan, Pamtas dan Pam P. terluar periode bulan Desember tahun anggaran 2014 sebanyak 145.661 Kg.

l. Letter Mabes TNI No. KJB-29/DN/KAN/XII/2014/Babek dated December 1, 2014 concerning the supply of rice for Pamrahwan, Pamtas and Pam P. Terluar operations for the period of December fiscal year 2014 for a total of 145,661 kgs.

m. Surat Mabes TNI No. KJB-

30/DN/KAN/XII/2014/Babek Tanggal 10 Desember 2014 perihal pengadaan beras guna mendukung kegiatan Piket/Jaga triwulan IV tahun anggaran 2014 sebanyak 93.535 Kg.

m. Letter Mabes TNI No. KJB-30/DN/KAN/XII/2014/Babek dated December 10, 2014 concerning the supply of rice in support of Piket/Jaga activities for the 4th quarter fiscal year 2014 for a total of 93,535 kgs.

Dalam jumlah utang penyaluran terdapat utang cadangan beras pemerintah (CBP) yang siap dipakai dan dapat digunakan setiap saat untuk memenuhi kebutuhan beras masyarakat sehubungan adanya gejolak harga dan keadaan darurat akibat bencana. CBP tersebut ditetapkan dalam Undang-Undang No. 7 tahun 1996 tentang Pangan.

Distribution payable includes Government Rice Reserves (CBP), which is available to use and can be used at any time to meet the needs of society in relation to rice price volatility and catastrophic emergencies. CBP is stipulated in Law. No. 7 year 1996 on Food.

Penyaluran CBP tahun 2014 sebanyak 195.770.523 kg senilai Rp 1.360.853.172.974 sehingga saldo utang penyaluran kepada pemerintah senilai Rp 1.299.047.839.625, dengan rincian:

Actual distribution of CBP during the year 2014 is 195,770,523 kgs amounted to Rp 1,360,853,172,974. As of December 31, 2014, the outstanding distribution payable to government amounted to Rp 1,299,047,839,625 with details as follows:.

i. APBN tahun 2012 sebanyak 266.666.667 kg

@ 7.500 senilai Rp 2.000.000.000.000. i. 2012 budget - 173,206,379 kgs @ 7,500

amounted to Rp 1,299,047,839,625. Realisasi penyaluran CBP selama tahun 2013 sebanyak 62.299.720,85 kg senilai Rp 392.740.563.605 sehingga saldo utang penyaluran kepada pemerintah senilai Rp 2.659.901.012.531, dengan rincian:

Actual distribution of CBP during the year 2013 is 62,299,720.85 kgs amounted to Rp 392,740,563,605. As of December 31, 2013, the outstanding distribution obligation to the government amounted to Rp 2,659,901,012,531 with details as follows:

i. APBN tahun 2011 sebanyak 102.310.235 kg

@ 6.450 senilai Rp 659.901.012.531. i. 2011 budget - 102,310,235 kgs @ 6,450

amounted to Rp 659,901,012,531.

ii. APBN tahun 2012 sebanyak 266.666.667 kg @ 7.500 senilai Rp 2.000.000.000.000.

ii. 2012 budget - 266,666,667 kgs @ 7,500 amounted to Rp 2,000,000,000,000.

b. Utang pengadaan: b. Procurement:

2014 2013

PSO PSO Beras 2.989.561.428 3.088.797.244 Rice Karung - 30.098.925 Sacks

Total 2.989.561.428 3.118.896.169 Total

Akun ini merupakan utang pengadaan barang dagangan/pelengkap di Divre-divre pada tanggal 31 Desember 2014 dan 2013.

This account represents payable for merchandise procurement in regional office as of December 31, 2014 and 2013.








46


c. Utang biaya: c. Expenses:

2014 2013

PSO PSO Utang Biaya Beras/Gabah 680.107.259 183.705.345 Debt cost of rice/ grains

Total 680.107.259 183.705.345 Total

d. Utang lainnya: d. Other payable:

2014 2013

PSO PSO Jaminan 15.824.408.146 18.753.464.405 Guarantees Swasta 655.686.422 2.823.702.816 Private Lainnya 15.654.573.584 2.323.886.737 Others


Komersial Commecial Pihak ketiga 29.381.445.458 77.806.377.094 Third parties Swasta 1.602.661.235 2.182.398.266 Private Lainnya 19.174.896.150 7.661.681.418 Others


Total 82.293.670.995 111.551.510.736 Total

17. PERPAJAKAN 17. TAXATION

a. Pajak dibayar dimuka: a. Prepaid taxes: 2014 2013

PPN Masukan 1.252.663.805 5.611.170.807 VAT in Pajak Penghasilan Income taxes Pasal 22 84.499.579 439.714.199 Article 22 Pasal 23 293.138.222 354.842.520 Article 23

Total 1.630.301.606 6.405.727.526 Total

b. Utang pajak: b. Taxes payable:

2014 2013

PPN Keluaran 6.832.341.212 15.193.180.155 VAT out Pajak Penghasilan Income taxes Pajak 4 ayat 2 - 92.868.845 Article 4 (2) Pasal 21 1.212.462.057 1.009.216.731 Article 21 Pasal 22 2.616.647 4.942.205 Article 22 Pasal 23 805.564.089 1.043.077.867 Article 23 Pasal 25 12.757.158.652 - Article 25 Pasal 29 Article 29 Entitas Anak 4.811.289.315 2.729.437.457 Subsidiary

Total 26.421.431.972 20.072.723.260 Total








47

17. PERPAJAKAN (lanjutan) 17. TAXATION (continued)

Rekonsiliasi antara rugi sebelum pajak penghasilan menurut laporan laba rugi komprehensif dengan rugi fiskal Perum BULOG adalah sebagai berikut:

Reconciliation between consolidated loss before income tax as shown in the consolidated statement of comprehensive income and estimated fiscal loss are as follows:

2014 2013

Rugi sebelum pajak penghasilan Loss before income tax menurut laporan laba rugi per consolidated statements of komprehensif konsolidasian (570.174.985.654 ) (476.225.786.630) comprehensive income Bagian laba Entitas Anak Income of subsidiary before sebelum beban pajak penghasilan (95.210.923.681 ) (18.757.286.366) income tax expense Eliminasi aset (1.804.635.502 ) Elimination of asset Beda temporer: Temporary differences: Penyusutan aset tetap 15.548.742.793 23.183.791.616 Depreciation of fixed assets Imbalan kerja 40.917.427.107 44.723.905.839 Employee benefits Pembayaran imbalan kerja (55.839.461.917 ) (36.381.406.989) Employee benefits payment Beban penyisihan penurunan nilai 9.184.542.700 30.412.873.528 Provision for Impairment Penyesuaian penyisihan Adjusment penurunan nilai (1.210.711.495 ) (5.556.144.770) allowance for Impairment

Total (88.415.019.995 ) 37.625.732.858 Total

Perbedaan Tetap: Permanent differences : Beban pajak 45.201.962.128 30.647.075.903 Tax expenses Beban pegawai 44.972.925.097 43.897.042.383 Employee expenses Beban penghapusan piutang 41.209.637.396 Write off trade receivable Beban berhubungan dengan Expenses associated penghasilan final 23.007.072.386 20.129.168.114 with final income Beban penyusutan aset tetap 4.941.489.145 - Depreciation expense Selisih pengalihan Difference transfer of aset tetap 6.766.024.016 fixed asset Penghasilan jasa giro, Interest income, deposits bunga deposito dan sewa (245.942.957.327 ) (202.814.538.309) and rent Donasi 266.090.909 - Donation Beban lainnya 256.890.715.324 - Other expenses

129.337.297.662 (60.165.590.497)

Rugi fiskal (529.252.707.987 ) (498.765.644.269) Fiscal loss Akumulasi rugi fiskal Accumulated fiscal loss

Akumulasi rugi fiskal Accumulated Fiscal loss tahun sebelumnya (1.120.911.335.675 ) (622.145.691.406)

Total akumulasi rugi fiskal (1.650.164.043.662 ) (1.120.911.335.675) Total accumulated fiscal loss

Beban pajak kini Current tax expense Entitas anak 23.216.420.000 4.616.937.500 Subsidiary

Pajak penghasilan dibayar di muka: Prepaid income taxes: Induk Parent Pasal 22 69.191.690.968 2.602.805.086 Article 22 Pasal 25 76.542.951.912 134.034.415.803 Article 25

Total 145.734.642.880 136.637.220.889 Total

Entitas Anak Subsidiary Pasal 23 14.942.427.566 1.887.500.043 Article 23 Pasal 25 3.462.703.119 - Article 25

Total 18.405.130.685 1.887.500.043 Total








48

17. PERPAJAKAN (lanjutan) 17. TAXATION (continued) 2014 2013

Total pajak penghasilan dibayar di muka 164.139.773.565 138.524.720.932 Total prepaid taxes

Taksiran utang pajak penghasilan Estimated income tax payable tahun berjalan for current year Entitas Anak 4.811.289.315 2.729.437.457 Subsidiary

Taksiran tagihan pajak penghasilan Estimated claim for tax refund Induk 145.734.642.880 136.637.220.889 Parent

Rincian taksiran tagihan pajak penghasilan: The details of estimated claims for tax refund:

2014 2013

2014 145.734.642.880 - 2014 2013 2013 Koreksi SPT Badan 490.214.000 - Correction annual income tax Tahun berjalan 136.637.220.889 136.637.220.889 Current year Koreksi SKPKB tahun 2011 68.172.103.394 68.172.103.394 Correction SKPKB year 2011 2012 2012 Tahun berjalan 120.434.171.297 120.434.171.297 Current year Koreksi SKPKB tahun 2010 61.332.334.614 61.332.334.614 Correction SKPKB year 2010 2011 87.559.447.491 87.559.447.490 2011 2010 68.809.612.134 68.809.612.134 2010

Akumulasi Taksiran Tagihan Pajak Total Estimated Claims for Penghasilan 689.169.746.699 542.944.889.818 Tax refund

c. Surat Ketetapan Pajak c. Tax assessments

Pada tanggal 17 Desember 2014, Perum BULOG menerima Surat Ketetapan Pajak Lebih Bayar (“SKPLB”) No. 00058/406/12/051/14 atas Pajak Penghasilan dari Kantor Pajak untuk tahun pajak 2012 sebesar Rp 177.318.714.116. Pada tanggal 26 Januari 2015 atas restitusi pajak sebesar Rp 177.318.714.116 telah diterima sebesar Rp 172.748.225.774 setelah dikurangi utang pajak Perum BULOG sebesar Rp 4.570.488.342 yang merupakan STP PPN dan SKPKB Divre tahun 2011.

On December 17, 2014, Perum BULOG received tax assessment letter on tax overpayment No. 00058/406/12/051/14 from Tax Office for income tax fiscal year 2012 amounted to Rp 177,318,714,116. On January 26, 2015, Perum BULOG received Rp 172,748,225,774 after deductions of Tax Collection letter of VAT underpayment of Divre in fiscal year 2011 amounting Rp 4,570,488,342.

Pada tanggal 9 Desember 2014, Perum BULOG menerima Surat Tagihan Pajak (“STP”) PPN No. 00049/187/13/051/14 atas Pemungutan Pajak oleh Pemungut Pajak untuk masa pajak Januari 2013 sebesar Rp 4.481.094.545.

On December 9, 2014, Perum Bulog received the Tax Collection Letter on VAT No. 00049/187/13/051/14 for January 2013 amounted to Rp 4.481.094.545.

Pada tanggal 10 Juli 2014, Perum BULOG menerima Surat Tagihan Pajak (“STP”) Pajak Penghasilan No. 00018/106/14/051/14 atas sanksi administrasi keterlambatan pembayaran cicilan pajak penghasilan badan masa Januari sampai dengan Maret 2014 sebesar Rp 765.429.517, dan telah dilunasi.

On July 10, 2014, Perum BULOG received tax Collection Letter for late payment of corporate income tax installment for the period January to March 2014 amounted Rp 765.429.517, and has been settled.

Berdasarkan surat no. B-/48/II/DK.202/01/2014 tanggal 29 Januari 2014 Perum BULOG mengajukan keberatan atas Surat Ketetapan Pajak Kurang Bayar Pajak Penghasilan Badan tahun pajak 2011 dengan No. 00005/206/10/051/13 tanggal 4 Nopember 2013.

Based on the letter No. B-/48/II/DK.202/01/2014 dated January 29, 2014 Perum BULOG filed an objection Letter for the assessment letter on tax underpayment for corporate income tax fiscal year 2011 with No.00005/206/10/051/13 dated November 4, 2013.

Pada tanggal 4 Nopember 2013, Perum BULOG menerima Surat Ketetapan Pajak Nihil (“SKPN”) atas Pajak Penghasilan Pasal 4 ayat 2, Pasal 23, Pasal 15 Final dan Pajak Pertambahan Nilai Barang dan Jasa untuk tahun pajak Desember 2011.

On November 4, 2013, Perum BULOG received tax assessment letters Nil ("SKPN") for income tax of Article 4 (2), Article 23, Article 15 Final and Value Added Tax In for fiscal year December 2011.








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Pada tanggal 4 Nopember 2013, Perum BULOG

menerima Surat Ketetapan Pajak Kurang Bayar (”SKPKB”) No. 00005/206/10/051/13 atas Pajak Penghasilan dari Kantor Pajak untuk tahun pajak 2011. Berdasarkan SKPKB tersebut, Perum BULOG terutang tambahan Pajak Penghasilan sebesar Rp 66.862.038.963, jumlah yang telah disetujui berdasarkan pembahasan akhir hasil pemeriksaan adalah sebesar Rp 133.746.054.768. Pada tanggal 23 April 2014, Perum BULOG melaporkan adanya tambahan pajak penghasilan terutang sebesar Rp 490.214.000.

On November 4, 2013, Perum BULOG received tax underpayment assessment letter No. 00005/206/10/051/13 for income tax for fiscal year 2011 from Tax Office. Based on the tax underpayment letter, Perum BULOG has an additional tax payable of Rp 66,862,038,963, the amount that has been approved by the end of the discussion of the results of the examination is Rp 133,746,054,768. On April 23, 2014, Perum BULOG has an additional tax payable of Rp 490,214,000.

Pada tanggal 4 Nopember 2013, Perum BULOG menerima SKPKB No. 00067/201/11/051/2013 atas Pajak Penghasilan Pasal 21 untuk tahun fiskal 2011, sebesar Rp 1.310.064.431.

On November 4, 2013, Perum BULOG received Tax Underpayment Letter No. 00103/406/09/051/11 for income tax article 21 for the fiscal year 2011, amounted Rp 1,310,064,431.

Berdasarkan surat No. B-/48/II/DK.202/02/2013 Perum BULOG mengajukan keberatan atas Surat Ketetapan Pajak Kurang Bayar Pajak Penghasilan Badan tahun pajak 2010 dengan No. 00004/206/10/051/12 tanggal27 Nopember 2012.

Based on the letter No. B-/48/II/DK.202/02/2013, Perum BULOG filed an Objection Letter to the tax underpayment assessment letter for corporate income tax fiscal year 2010 with No.00004/206/10/051/12 dated November 27, 2012.

Pada tanggal 27 Nopember 2012, Perum BULOG menerima Surat Ketetapan Pajak Kurang Bayar (”SKPKB”) atas Pajak Penghasilan dari Kantor Pajak untuk tahun pajak 2010. Berdasarkan SKPKB tersebut, Perum BULOG terutang tambahan Pajak Penghasilan sebesar Rp 61.332.334.614, jumlah yang terlah disetujui berdasarkan pembahasan akhir hasil pemeriksaan adalah sebesar Rp 68.809.612.134. Kantor Pajak mengeluarkan Surat Pertambahan Nilai Barang dan Jasa untuk tahun 2010 pada bulan desember sebesar Rp 57.616.904 dan mengeluarkan Surat Ketetapan Pajak Kurang Bayar Pajak Penghasilan Pasal 4(2) Final sebesar Rp 9.161.500. Kantor pajak juga mengeluarkan Surat Ketetapan Pajak Kurang Bayar (”SKPKB”) untuk masa Desember 2010 sebesar Rp 288.084.518.

On November 27, 2012, Perum BULOG received tax underpayment assessment letter for income tax fiscal year 2010 from Tax Office. Based on the tax underpayment letter, Perum BULOG has an additional tax payable of Rp 61,332,334,614, the amount which has been approved by the end of the discussion of the results of examination is Rp 68,809,612,134. Tax Office also issued Letter on Value Added Tax on Goods and Services for December fiscal year 2010 amounted to Rp 57,616,904 and issued Tax Underpayment Letter for Final Income Tax Article 4 (2) amounted to Rp 9,161,500. The Tax Office also issued Tax Underpayment Letter ("SKPKB") for the period December 2010 amounted to Rp 288,084,518.

d. Pajak tangguhan d. Deferred tax

Perhitungan manfaat (beban) pajak tangguhan atas beda temporer yang signifikan antara pelaporan komersial dan pajak dengan menggunakan tarif pajak yang berlaku untuk tahun 2014 dan 2013 adalah sebagai berikut:

The deferred tax benefit (expense) computation of significant temporary differences between commercial and fiscal statements using tax rates in 2014 and 2013 are as follows:

2014 2013

Rugi fiskal 132.313.176.996 124.691.411.066 Fiscal loss Liabilitas imbalan kerja (3.730.508.703 ) 2.085.624.713 Employee benefits Liability Penyisihan penurunan nilai 2.012.980.863 6.214.182.189 Allowance for impairment Aset tetap 3.887.185.698 5.795.947.904 Fixed assets

Manfaat pajak tangguhan 134.482.834.854 138.787.165.872 Deferred tax benefit








50


e. Aset pajak tangguhan: e. Deferred tax assets:

2014 2013

Rugi fiskal 412.541.010.914 280.227.833.918 Fiscal loss Penyisihan penurunan nilai 60.279.045.391 58.266.064.528 Allowance for impairment Aset tetap 105.816.762.305 101.929.576.607 Fixed assets Liabilitas imbalan kerja 10.964.046.856 14.694.555.558 Employee benefits Liability

Total aset pajak tangguhan 589.600.865.466 455.118.030.611 Total deferred tax assets

18. BIAYA YANG MASIH HARUS DIBAYAR 18. ACCRUED EXPENSES

Akun ini terdiri dari : This account consist: 2014 2013

PSO PSO Biaya umum dan biaya pegawai 137.095.915.500 78.490.683.016 General and employee expenses Biaya eksploitasi 88.956.097.990 4.481.789.079 Exploitation expenses

Biaya lainnya 16.224.355.584 4.844.442.459 Others Komersil Commercial Biaya umum dan biaya pegawai 527.778.946 228.300.464 General and employee expenses

Total 242.804.148.020 88.045.215.018 Total

19. UANG MUKA PENJUALAN 19. SALES ADVANCES

Akun ini terdiri dari : This account consist of:

2014 2013

Subsidi raskin - 3.224.232.918.424 Subsidy raskin Daging - 2.165.074.718 Meat Lainnya 81.533.749.109 99.470.962.226 Others

Total 81.533.749.109 3.325.868.955.368 Total

Akun ini merupakan pendapatan yang diterima di divre-divre, kantor pusat dan unit bisnis, namun belum dapat diakui sebagai pendapatan pada tanggal 31 Desember 2014 dan 2013.

This account represents sales received in advance in regional division, head office and business unit that have not yet recognized as revenue for the years ended December 31, 2014 and 2013.

20. LIABILITAS IMBALAN KERJA

20. EMPLOYEE BENEFITS LIABILITY

Akun ini merupakan Liabilitas Jangka Panjang Program Pasca Kerja sebesar Rp 43.856.187.423 danRp 58.778.222.233 pada tanggal 31 Desember 2014 dan 2013. Liabilitas pembayaran program pasca kerja karyawan sesuai dengan laporan aktuaris Nomor 100/LV/PSGJ/I/2015 tanggal 16 Januari 2015 Program pensiun Perum BULOG dilaksanakan oleh PT Taspen untuk karyawan yang berstatus pegawai negeri dan oleh PT Asuransi Jiwasraya (Persero) untuk karyawan yang berstatus pegawai Perum BULOG dengan tujuan untuk memberikan jaminan kesinambungan penghasilan bagi karyawan setelah pensiun.

This account is Liability for Long-Term Post-Employment Program amounting to Rp 43,856,187,423 and Rp 58,778,222,233 as of December 31, 2014 and 2013, respectively. This post employment benefits liability is based on the actuarial report no. 100/LV/PSGJ/I/2015 dated January 16, 2015. Perum BULOG's pension plan is implemented by PT Taspen for government employee status and by PT Asuransi Jiwasraya (Persero) for employees with Perum BULOG employee status with a purpose to guarantee the sustainability of income for employees after retirement.








51

20. LIABILITAS IMBALAN KERJA (lanjutan)

20. EMPLOYEE BENEFITS LIABILITY (continued)

Program Imbalan Kerja Bagi Karyawan

Employee Benefits Program for Employees

Pengalihan kelembagaan BULOG dari LPND menjadi Perum sesuai PP No. 7 Tahun 2003 sebagaimana telah diubah dengan PP No. 61 Tahun 2003 membawa konsekuensi pengalihan status kepegawaian dari PNS menjadi pegawai Perum BULOG dan PNS BKN diperbantukan terhitung mulai tanggal 1 Januari 2004. Hal tersebut mengakibatkan timbulnya perbedaan perlakuan terhadap hak pensiun (Jaminan Hari Tua) pegawai dengan pengelompokan sebagai berikut:

The change of BULOG institution from LPND to Perum based on PP No. 7 Year 2003, as amended by PP. No. 61 of 2003 resulted to the change in the employment status of government employees to Perum BULOG employees and seconded government employees commencing January 1, 2004. This resulted in the emergence of differences in the treatment of pension rights (Old Age Security) employees with classification as follows:

1. Kategori I:

Pegawai yang berusia ≥ 50 tahun dan mempunyai masa kerja ≥ 10 tahun, dipensiunkan sebagai PNS dengan mendapat hak pensiun dari PT Taspen.

2. Kategori II: Pegawai yang berusia ≤ 50 tahun dan mempunyai masa kerja ≥ 10 tahun. diperbantukan untuk kemudian diberhentikan sebagai PNS dengan mendapat hak pensiun dari PT Taspen.

3. Kategori III: Pegawai yang berusia ≤ 50 tahun dan mempunyai masa kerja ≤ 10 tahun diberhentikan dengan hormat sebagai PNS tanpa hak pensiun dari PT Taspen. Mulai Tahun 2004, karyawan kategori III ini diikutsertakan dalam program Asuransi Kesejahteraan Hari Tua pada PT Asuransi Jiwasraya (Persero) dengan Pola Manfaat Pasti. Masa kerja pegawai dihitung penuh mulai tanggal bekerja di LPND BULOG sampai dengan pensiun (56 tahun).

1. Category I: Employees aged ≥ 50 years and has tenure ≥ 10 years, retired as a civil servant, is entitled to a pension from PT Taspen.

2. Category II: Employees aged ≤ 50 years and has tenure ≥ 10 years. Seconded the subsequently dismissed as a civil servant is entitled to obtain pension from PT Taspen.

3. Category III: Employees aged ≤ 50 years and has tenure ≤ 10 years dismissed with honor as a civil servant is not entitled to obtain pension from PT Taspen. Starting 2004, employees in this third category are included in the insurance program Welfare Old Age at PT Asuransi Jiwasraya (Persero) with Pattern Defined Benefit. The period of employment is fully counted from the start date of work in LPND BULOG until retirement (56 years).

Perum BULOG menyelenggarakan program pensiun manfaat pasti yang sumber pendanaannya berasal dari tiap karyawan sebesar 8% dari gaji pokok karyawan. terdiri dari iuran THT 3,25% dan iuran JHT 4,75% dan jika terjadi kekurangan dana (unfunded) akan ditanggung oleh Perum BULOG termasuk beban jasa masa lalu. Sesuai dengan Undang-Undang Ketenagakerjaan No. 13 Tahun 2003 tanggal 25 Maret 2003, Perum BULOG berkewajiban menutupi kekurangan pembayaran pensiun bila program yang ada sekarang belum mencukupi.

Perum BULOG has defined benefit pension plan which the source of funding comes from each employee at 8% of the basic salary of employees consisting of contributions THT 3.25% and JHT 4.75% fee in case of shortage of funds (unfunded) it will be borne by Perum BULOG, including past service cost. In accordance with the Employment Act No. 13 of 2003 dated March 25, 2003, Perum BULOG is obliged to cover the shortfall of pension payments when program is insufficient.

Penilaian aktuaria program pasca kerja Perum BULOG pada tanggal 31 Desember 2014 dan 2013 dilakukan oleh aktuaris independen PT Jasa Aktuaria Praptasentosa Gunajasa sehubungan Pernyataan Standar Akuntansi Keuangan No. 24 (Revisi 2010) yang dituangkan dalam Laporan Aktuaris Nomor 100/LV/PSGJ/I/2015 tanggal 16 Januari 2015 dan Nomor 026/LV/PSGJ/I/2014 tanggal 6 Januari 2014. Perhitungan dilakukan terhadap pegawai Perum BULOG kategori I dan III yang seluruhnya berjumlah 3.883 dan 4.095 orang dan program pasca kerjanya merupakan liabilitas Perum BULOG untuk memenuhi ketentuan Undang-undang Ketenagakerjaan No. 13 Tahun 2003. Program pasca kerja pegawai kategori II tidak dimasukkan perhitungan karena statusnya masih PNS dan belum menjadi liabilitas Perum BULOG.

The actuarial valuation of Perum BULOG's post-employment program as of December 31, 2014 and 2013 is conducted by independent actuary PT Jasa Aktuaria Praptasentosa Gunajasa based on Statement of Financial Accounting Standards No. 24 (Revised 2010) set forth in the Actuarial Report No. 100/LV/PSGJ/I/2015 dated January 16, 2015 and No. 026/LV/PSGJ/I/2014 dated January 6, 2014, respectively. The calculation is carried out on Perum BULOG employees in post employment retirement program Categories I and III with a total of 3,883 and 4,095 people and is a liability Perum BULOG to comply with Labor Law Act No. 13 of 2003. Post employment retirement program category II calculations are not included because its status is still civil servants and the post employment retirement.








52

20. LIABILITAS IMBALAN KERJA (lanjutan) 20. EMPLOYEE BENEFITS LIABILITY (continued)

Jumlah yang diakui dalam laporan posisi keuangan adalah sebagai berikut:

The amounts of employee benefits recognized in the statements of financial position as determined, are as follows:

2014 2013

Nilai kini liabilitas 229.186.242.379 188.943.447.851 Present value of obligation Nilai wajar aset program (187.133.317.856) (145.626.730.223) Fair value of plan assets Keuntungan aktuarial yang belum diakui 1.803.262.900 15.461.504.605 Unrecognized actuarial gain

Total liabilitas imbalan kerja 43.856.187.423 58.778.222.233 Total employee benefits liability

Perhitungan beban manfaat karyawan yang diakui di

laporan laba rugi adalah sebagai berikut: Calculation of employee benefit expense recognized in the

statement of comprehensive income are as follows:

2014 2013

Biaya jasa kini 37.134.126.709 37.079.435.698 Current service cost Keuntungan aktuaria yang diakui - 2.369.127.478 Recognized actuarial gain or loss Beban bunga 16.889.706.118 9.409.368.699 Interest cost Hasil yang diharapkan dari aset program (13.106.405.720 ) (4.134.026.036) Expected return on plan assets

Total beban manfaat karyawan 40.917.427.107 44.723.905.839 Total employee benefits expenses

Mutasi nilai kini liabilitas adalah sebagai berikut: Movements of present value of obligation is as follows:

2014 2013

Saldo awal 188.943.447.851 144.759.518.449 Beginning balance Biaya jasa kini 37.134.126.709 37.079.435.698 Current service cost Biaya bunga 16.889.706.118 9.409.368.699 Interest cost Imbalan kerja yang sudah tercatat Employees benefits of the bagi pegawai keluar (27.592.177.877 ) (31.631.867.141) resigned employees Kerugian aktuaria yang belum diakui 13.811.139.578 29.326.992.146 Unrecognized actuarial loss

Saldo akhir 229.186.242.379 188.943.447.851 Ending balance

Mutasi nilai wajar aset program adalah sebagai berikut: The movement in the fair value of plan assets is as

follows:

2014 2013

Saldo awal 145.626.730.223 48.635.600.420 Beginning balance Imbalan hasil ekspektasi aset program 13.106.405.720 4.134.026.036 Expected return on plan asset Keuntungan (kerugian) aktuaria 152.897.873 88.107.563.919 Actuarial gains (losses) Kontribusi 28.247.284.040 4.749.539.848 Contrbutions


Perubahan estimasi liabilitas imbalan kerja yang diakui di laporan posisi keuangan adalah sebagai berikut:

Changes in the estimated liability for employee benefits recognized in statements of financial position are as follows

2014 2013

Saldo awal 58.778.222.233 50.435.723.383 Beginning balance Beban manfaat karyawan 40.917.427.107 44.723.905.839 Employee benefit expense

Pembayaran manfaat pesangon Payments of karyawan (55.839.461.917 ) (36.381.406.989) employee benefits









53

20. LIABILITAS IMBALAN KERJA (lanjutan) 20. EMPLOYEE BENEFITS LIABILITY (continued)

Informasi historis mengenai nilai kini liabilitas imbalan pasti dan penyesuaian yang timbul pada liabilitas program adalah sebagai berikut:

Historical informasi of present value of defined benefit obligation and experience adjustment on plan liabilities was as follows:

2014 2013 2012 2011 2010

Nilai kini liabilitas Present value of defined imbalan pasti 229.202.781.644 188.943.447.851 144.759.518.449 96.563.156.904 75.155.924.366 obligation Nilai wajar aset program (187.133.317.856) (145.626.730.223) (48.635.600.420) - - Fair value of plan assets

Defisit 42.069.463.788 43.316.717.628 96.123.918.029 96.563.156.904 75.155.924.366 Deficit

Penyesuaian berdasarkan pengalaman liabilitas Experience adjustment program 1.786.723.635 15.461.504.605 45.688.194.646 13.163.029.850 - on plan liabilities

Penyesuaian berdasarkan pengalaman aset Experience adjustment program 152.897.873 88.107.563.919 39.127.475 - - on plan liabilities

Asumsi dasar yang digunakan dalam menentukan liabilitas

imbalan kerja adalah sebagai berikut: The principal assumptions used in determining employee

benefits liability are as follows: 2014 2013

a. Tingkat Bunga Diskonto per Tahun/ Discount Rate per Year 8,00% 9,00% b. Tingkat Kenaikan Gaji per Tahun/ Rate Increase Salary per Year 8,00% 8,00% c. Hasil yang diharapkan dari aset program/ Expected return on plan assets 8,00% 9,00% d. Usia Pensiun/ Retirement age 56 tahun/ years 56 tahun/ years e. Tingkat Mortalita (kematian) mengikuti Tabel CSO 1980/

Mortality Rate (death) following the 1980 CSO Table TMI 2011 TMI 2011

21. SALDO DAN TRANSAKSI DENGAN PIHAK-PIHAK YANG BERELASI

21. BALANCES AND TRANSACTIONS WITH RELATED PARTIES

Dalam kegiatan usaha normal, Perum BULOG dan Entitas Anak melakukan transaksi keuangan dengan pihak-pihak yang berelasi, dimana transaksi-transaksi tersebut merupakan penempatan bank dan deposito serta pinjaman modal kerja.

In the normal course of business, Perum BULOG and its Subsidiary engage in financial transactions with related parties, where such transactions are bank and deposit placements and working capital loans.

a. Kas di bank a. Cash in banks

2014 2013

Kas di bank Cash in banks PSO PSO PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 399.911.919.522 439.049.609.631 (Persero) Tbk

PT Bank Negara Indonesia PT Bank Negara Indonesia Tbk (Persero) Tbk 3.143.644.797 3.928.334.630 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 203.344.726 906.290.602 PT Bank Mandiri (Persero) Tbk

403.258.909.045 443.884.234.863

Komersial Commercial PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 191.419.944.952 89.131.682.050 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 5.103.859.611 5.437.827.466 PT Bank Mandiri (Persero) Tbk PT Bank Negara Indonesia PT Bank Negara Indonesia (Persero) Tbk 1.882.592 33.747.919 (Persero) Tbk

196.525.687.155 94.603.257.435

Total 599.784.596.200 538.487.492.298 Total

Persentase dari total aset 2,93% 2,08% Percentage to total assets








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21. SALDO DAN TRANSAKSI DENGAN PIHAK-PIHAK YANG BERELASI (lanjutan)

21. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (continued)

b. Deposito b. Time deposits

2014 2013

Rupiah Rupiah PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 957.780.497.606 878.231.742.805 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 88.884.300.000 54.884.300.000 PT Bank Mandiri (Persero) Tbk

1.046.664.797.606 933.116.042.805

Dolar Amerika US Dollar PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 23.906.570.000 23.424.210.750 (Persero) Tbk PT Bank Mandiri (Persero) Tbk 14.759.935.600 14.462.126.610 PT Bank Mandiri (Persero) Tbk

38.666.505.600 37.886.337.360

Sub total 1.085.331.303.206 971.002.380.165 Sub total

Persentase dari total aset 5,31% 3,75% Percentage to total assets

c. Utang bank c. Bank loans

2014 2013

PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia (Persero) Tbk 10.808.827.450.787 9.643.005.838.548 (Persero) Tbk

Persentase dari total liabilitas 64,69% 44,49% Percentage to total liabilities

d. Utang kepada Pemerintah d. Payable to government

Berdasarkan surat Menteri keuangan No. S-37/MK.02/2014 tanggal 20 Januari 2014 mengenai tindak lanjut laporan hasil pemeriksaan Badan Pemeriksa Keuangan atas subsidi beras bagi masyarakat berpenghasilan rendah TA 2011 dan 2012 pada Perum BULOG terdapat kelebihan penerimaan subsidi raskin TA 2011 sebesar Rp 435.114.550.868 dan TA 2012 sebesarRp 707.662.577.406. Perum BULOG diminta untuk melakukan penyetoran atas kelebihan dimaksud ke kas Negara.

Based on the letter of the minister of Finance No. S-37/MK.02/2014 dated January 20, 2014 concerning the follow-up of the examination results report of the State Audit Board on rice subsidiaries for low income earners (Raskin) for FY 2011 and 2012 at Perum BULOG, there is excess revenue from Raskin subsidy amounted to Rp 435,114,550,868 for FY 2011 and Rp 707,662,577,406 for FY 2012, this excess is required to be deposited by Perum BULOG to the state treasury.

Berdasarkan laporan hasil pemeriksaan Badan Pemeriksan Keuangan No. 43/AUDITAMA VII/PDTT/07/2014 tanggal 16 Juli 2014 tentang subsidi beras bagi masyarakat berpendapatan rendah dan cadangan beras pemerintah tahun anggaran 2013 pada Perum BULOG terdapat kelebihan penerimaan subsidi raskin sebesar Rp 256,890,715,369 yang sudah di net-off dengan piutang pemerintah.

Based on the follow-up of the examination results report of the State Audit Board No. 43/AUDITAMA VII/PDTT/07/2014 dated July 16, 2014 regarding rice subsidies for low income earners (Raskin) for FY 2013 at Perum BULOG, there is excess revenue from Raskin subsidy amounted to Rp 256,890,715,369 which has been net off to the Perum Bulog’s receivable from Government.

Pada tahun 2014 dan 2013, Perum BULOG telah mencatat utang kepada pemerintah subsidi sebesarRp 1.142.777.128.274.

As of December 31, 2014 and 2013, Perum BULOG had recorded payable to government amounting to Rp 1,142,777,128,274, respectively.








55

21. SALDO DAN TRANSAKSI DENGAN PIHAK-PIHAK

YANG BERELASI (lanjutan) 21. BALANCES AND TRANSACTIONS WITH RELATED

PARTIES (continued)

Sifat transaksi dengan pihak berelasi adalah sebagai berikut:

Nature of transactions with related parties are as follows:

Pihak-pihak yang berelasi/

Related parties Hubungan/

Relationship Sifat Transaksi/

Nature of transactions PT Bank Rakyat Indonesia (Persero) Tbk Afiliasi/ affiliate Giro, deposito dan pinjaman/

Demand deposits, time deposits and loans

PT Bank Mandiri (Persero) Tbk Afiliasi/ affiliate Giro, deposito dan pinjaman/ Demand deposits, time deposits

and loans Pemerintah/Government Pemegang saham/ Shareholder Utang/Liability

22. KEKAYAAN NEGARA YANG BELUM DITENTUKAN STATUSNYA

22. STATE ASSETS WITH UNDETERMINED STATUS

Akun ini merupakan kekayaan negara yang belum

ditetapkan statusnya di Perum BULOG per 31 Desember 2014 dan 2013 yang terdiri dari:

This account represents the country's wealth status is not defined in Perum BULOG as of December 31, 2014 and 2013 are as follows:

2014 2013

Pos APBN Pos APBN Mesin 325.333.056.711 325.333.056.711 Machine Bangunan 227.330.288.847 227.330.288.847 Building Dana APBN 62.617.709.608 62.617.709.608 APBN fund Inventaris 59.969.832.316 59.969.832.316 Office equipment

Total 675.250.887.482 675.250.887.482 Total

Pos APBN merupakan tambahan Aset Perum BULOG meliputi pembangunan sarana UPGB, pengadaan mesin-mesin pengolah gabah/beras dan inventaris yang dananya berasal dari Pemerintah/APBN dalam tahun 2006, 2005, 2004 dan 2003.

APBN post represents additions to the Company’s assets which includes infrastructure construction of UPGB, procurement of rice/grain processing machine and inventories which are funded by the Government/State budget in 2006, 2005, 2004 and 2003.

Sampai dengan tanggal pemeriksaan manajemen

belum mendapatkan keputusan dari Pemerintah mengenai status kekayaan Negara yang belum ditentukan statusnya.

As of the date of this report, management has not received a decision from the Government regarding the status of these state assets with undetermined status.

23. EKUITAS 23. EQUITY 2014 2013

Modal Pemerintah 6.847.135.795.560 6.847.135.795.560 Government capital Defisit (2.636.643.538.119 ) (2.293.880.962.418 ) Deficit Total rugi komprehensif tahun Total comprehensive loss berjalan (462.508.295.984 ) (342.762.575.701 ) during the year

Total 3.747.983.961.457 4.210.492.257.441 Total

Berdasarkan Keputusan Menteri Keuangan No. 182/KMK.06/2010 tanggal 30 April 2010, menetapkan nilai kekayaan yang belum ditetapkan statusnya pada Perum BULOG sebesar Rp 492.570.916.433 sebagai penyertaan modal negara. Dengan demikian penyertaan modal negara pada Perum BULOG meningkat menjadi Rp 6.847.135.795.560 pada tahun 2010.

According to Minister of Finance Decree. 182/KMK.06/2010 dated April 30, 2010, it was decided that the value of state assets with undetermined status in Perum Bulog amounting to Rp 492,570,916,433 is to be part of state capital contribution. As a result, the government capital increased to Rp 6,847,135,795,560 in 2010.








56

24. PENDAPATAN 24. REVENUES

Rincian pendapatan adalah sebagai berikut : Details of the revenue are as follows:

2014 2013

Beras 26.079.976.892.111 28.638.609.806.905 Rice Komoditas Bulogmart 215.088.648.379 55.083.754.322 Commodity Bulogmart Gula pasir 183.658.529.464 108.271.730.909 Sugar Sewa 61.387.900.834 23.749.980.924 Rent Daging 20.619.347.976 53.463.748.032 Meat Kedelai 1.229.260.813 261.794.423 Soy Jasa pemberantas hama 589.273.217 1.475.541.849 Pest eradication services Karung 162.483.257 180.910.300 Sack Jasa angkutan - 8.981.967.495 Freight services

Total 26.562.712.336.051 28.890.079.235.159 Total

25. HARGA POKOK PENDAPATAN USAHA 25. COST OF REVENUES

Rincian harga pokok pendapatan usaha adalah sebagai berikut :

The details of cost of goods revenue is consist of:

2014 2013

Beras 21.349.802.709.400 24.090.222.229.475 Rice Jasa angkutan 874.783.519.078 1.096.424.426.548 Freight services Komoditas Bulogmart 183.734.174.261 53.038.510.965 Commodity Bulogmart Gula pasir 157.714.948.455 106.692.748.400 Sugar Jasa pemberantas hama 36.427.411.035 44.362.283.290 Pest eradication services Daging 18.637.219.953 49.237.561.585 Meat Kedelai 1.170.197.184 242.294.783 Soy Karung 134.094.743 211.750.026 Sack

Total 22.622.404.274.109 25.440.431.805.072 Total








57

26. BEBAN USAHA 26. OPERATING EXPENSES

Akun ini terdiri dari: This account consists of:

a. Beban umum dan administrasi a. General and administrative expenses 1) Beban pegawai 1) Employee expenses

2014 2013

`

Tunjangan 366.991.367.425 344.560.351.410 Allowances Gaji dan Honor 337.374.414.372 291.471.352.752 Salaries and honoranium Kesejahteraan 241.864.792.974 186.688.397.602 Welfare Kesehatan 1.584.654.962 1.790.281.608 Health care Lainnya 42.690.480.494 77.537.069.980 Others

`

Sub total 990.505.710.227 902.047.453.352 Sub total `

2) Beban kantor 2) Office expenses

2014 2013

`

Pemeliharaan 232.701.858.931 177.355.720.981 Maintenance Keperluan kantor 65.383.932.118 53.014.368.441 Office necessity Operasional 63.337.526.104 64.163.090.427 Operational Rapat/Seminar 20.831.296.434 19.211.557.169 Meetings and seminars Pendidikan dan pelatihan 4.202.280.898 5.199.041.614 Education and training Penelitian dan pengembangan 723.085.090 12.212.908.282 Research and development Lainnya 57.607.997.327 53.301.225.511 Others

`


3) Beban pajak 3) Taxes expenses 2014 2013

`

Pajak penghasilan: Income taxes: Pasal 21 40.613.273.517 26.558.469.693 Article 21 Pasal 22 34.954.073 338.427.370 Article 22 Pasal 23 4.073.502.577 3.135.243.671 Article 23 Pasal 25 765.429.517 670.172.077 Article 25 PPN 3.684.365.388 4.046.369.986 VAT

`


4) Penyisihan dan Penyusutan 4) Provision and depreciation 2014 2013

`

Biaya penyisihan Allowance for impairment Piutang usaha 4.073.330.567 4.467.838.979 Trade receivables Piutang lainnya 5.189.304.380 25.945.034.548 Other receivables

`


Beban penyusutan (Catatan 12) Depreciation expenses (Note 12) Bangunan 82.375.539.381 99.797.766.075 Building Mesin-mesin 1.432.623.053 24.146.450.987 Machine Kendaraan 5.303.997.380 16.075.191.665 Vehicle Inventaris 17.106.012.130 8.559.883.944 Equipment

`


Penyusutan properti Depreciation of investment investasi (Catatan 13) 1.621.521.690 1.309.477.824 properties (Note 13)

`


Total 1.601.567.540.782 1.501.555.692.596 Total








58

26. BEBAN USAHA (lanjutan) 26. OPERATING EXPENSES (continued)

c. Beban eksploitasi c. Exploitation expenses

2014 2013

`

Movement 493.695.460.641 171.440.106.747 Movement Susut 48.274.848.867 29.481.495.512 Susut Eksploitasi umum 22.465.644.381 39.131.323.376 General exploitation

`

Total 564.435.953.889 240.052.925.635 Total

d. Beban penjualan d. Seling expenses 2014 2013

`

Operasional raskin 275.327.081.221 364.690.047.947 Operational raskin Uitslag beras/gabah 34.109.412.645 42.137.444.855 Uitslag rice/grain UBPGB 1.034.599.718 1.287.323.014 UBPGB UB. Jastasma 438.153.863 189.755.650 UB. Jastasma Bulogmart 1.658.232.780 703.355.860 Bulogmart Uitslag gula pasir 158.402.663 - Uitslag sugar

`

Total 312.725.882.890 409.007.927.326 Total

27. PENDAPATAN (BEBAN) LAIN-LAIN 27. OTHER INCOME (EXPENSES)

1) Pendapatan lain-lain 1) Other income

2014 2013

`

Pendapatan jasa keuangan Finance income Jasa giro dan Interest income and bunga deposito 185.481.715.132 150.829.680.290 deposit interest

`

Pendapatan lain-lain Other income Margin (Catatan 5) 133.325.811.000 - Margin fee (Note 5) Selisih kurs 47.468.649.426 164.704.323.382 Forex exchange gain Beras/gabah 43.951.038.254 78.582.604.894 Rice/grain Trading 13.403.687.034 683.988.534 Trading Pendapatan sewa aset 2.043.057.147 28.511.779.656 Rent income Karung 2.031.523.379 1.593.613.960 Sack Gula pasir 641.429.841 - Sugar Jasa 252.172.261 130.036.335 Service Laba penjualan aset tetap 202.182.591 10.911.725.006 Gain on sale of asset Industri 25.949.928 166.448.579 Industry Lainnya 51.700.500.304 199.873.580.390 Others

`


Total 480.527.716.297 635.987.781.026 Total

2) Beban lain-lain 2) Other expenses 2014 2013

`

Beban keuangan Finance costs Bunga bank 1.732.964.357.170 1.341.932.768.399 Bank interest Biaya bank 160.935.704.660 169.474.204.154 Bank charges Provisi 3.121.451.767 38.060.400.727 Provision

`

Sub total 1.897.021.513.597 1.549.467.373.280 Sub total `








59

27. PENDAPATAN (BEBAN) LAIN-LAIN (lanjutan) 27. OTHER INCOME (EXPENSES) (continued)

2) Beban lain-lain (lanjutan) 2) Other expenses (continued)

2014 2013

`

Beban lain-lain Other expenses Beras/gabah 503.837.295.302 785.182.154.427 Rice/grain Selisih kurs 43.256.057.530 22.430.564.064 Foreign exchange loss Trading 13.191.187.645 616.950.618 Trading Karung 284.099.818 17.158.250 Sack Jasa 68.426.367 735.921.657 Service Industri - 18.415.000 Industry Lainnya 54.622.806.073 52.775.914.890 Others

`


Total 2.512.281.386.332 2.411.244.452.186 Total

Pada tanggal 29 Oktober 2014, Perum BULOG mendapatkan surat somasi ketiga dari kantor advokat Elza Syarif No. 318/ESL/IX/2014 yang menuntut agar Perum BULOG membayar tagihan dan sanksi denda atas keterlambatan pembayaran jasa konsultan pajak PT. Prime World Consulting. Atas somasi tersebut Perum BULOG telah mencadangkan biaya sebesar Rp 2.441.715.950

On October 29, 2014 Perum BULOG received legal notice from Elza Syarif Law Office Advocates & Legal Consultants No. 318/ESL/IX/2014 in the matter of charge and penalty for payment of tax consulting service from PT. Prime World Consulting. Regarding legal notice Perum BULOG provided allowance amounted Rp 2,441,715,950.

28. MANAJEMEN RISIKO KEUANGAN 28. FINANCIAL RISK MANAGEMENT

Dalam aktivitas usahanya sehari-hari, Perum BULOG dan Entitas Anak dihadapkan pada berbagai risiko. Risiko utama yang dihadapi Perum BULOG dan Entitas Anak yang timbul dari instrument keuangan adalah risiko kredit, risiko pasar (yaitu tingkat suku bunga dan risiko nilai tukar mata uang asing), dan risiko likuiditas. Fungsi utama dari manajemen risiko adalah untuk mengidentifikasi seluruh risiko kunci,mengukur risiko-risiko ini dan mengelola posisi risiko sesuai dengan kebijakan dan tatacara Perum BULOG dan Entitas Anak. Perum BULOG dan Entitas Anak secara rutin menelaah kebijakan dan sistem manajemen risiko untuk menyesuaikan dengan perubahan di pasar, produk dan praktek pasar terbaik.

In its daily business activities, Perum BULOG and its Subsidiary are exposed to risks. The main risks facing by Perum BULOG and its Subsidiary arising from its financial instruments are credit risk, market risk (foreign exchange rate risk) and liquidity risk. The core function of Perum BULOG and its Subsidiary’s risk management is to identify all key risks for Perum BULOG and its subsidiary, measure these risks and manage the risk positions in accordance with its policies and Perum BULOG and its Subsidiary’s risk appetite. Perum BULOG and its Subsidiary regularly review its risk management policies and systems to reflect changes in markets, products and best market practice.

1. Risiko kredit 1. Credit risk

Risiko kredit adalah risiko kerugian keuangan yang timbul jika pelanggan Perum BULOG dan Entitas Anak gagal memenuhi kewajiban kontraktualnya kepada Perum BULOG dan Entitas Anak.

Credit risk is the risk of suffering financial loss, should any of Perum BULOG and its Subsidiary customers fail to fulfill their contractual obligations to Perum BULOG and its Subsidiary.

Pada tanggal 31 Desember 2014 dan 2013 eksposur Perum BULOG dan Entitas Anak maksimum terhadap risiko kredit mendekati nilai tercatat bersih dengan rincian sebagai berikut:

As of December 31, 2014 and 2013, the maximum Perum BULOG and its Subsidiary’s exposure of the credit risk approximates the net carrying amounts of the following:








60

28. MANAJEMEN RISIKO KEUANGAN (lanjutan) 28. FINANCIAL RISK MANAGEMENT (continued)

1. Risiko kredit (lanjutan) 1. Credit risk (continued)

2014 2013

Bank dan setara kas 2.489.903.526.962 3.158.549.419.907 Cash in banks and cash equivalents Piutang usaha 952.945.320.481 280.618.011.296 Trade receivables Piutang lain-lain 11.084.790.577 6.523.887.069 Other receivables Aset lancar lainnya 702.862.086.430 4.077.782.362.886 Other receivables Aset lain-lain Other non-current assets Deposito yang dijaminkan 1.340.135.020.363 699.382.771.745 Restricted deposits

Total 5.496.930.744.813 8.222.856.452.903 Total

Tabel berikut memberikan kualitas kredit dan analisis umur aset keuangan Perum BULOG dan Entitas Anak sesuai dengan peringkat kredit debitur pada tanggal 31 Desember 2014 dan 2013:

The following table provides the credit quality and age analysis of financial assets of the Perum BULOG and its Subsidiary according to the Perum BULOG and its Subsidiary’s credit rating of counterparties as of December 31, 2014 and 2013:

2014 `

Belum jatuh tempo atau Telah jatuh tidak tempo mengalami Telah jatuh tempo tetapi dan penurunan belum mengalami penurunan nilai/ mengalami nilai/ Past Due but not impaired penurunan Neither nilai/ past due lebih dari Past due nor < 30 hari/ 30 – 90 hari/ 90 hari/ and Total/ impaired < 30 days 30 - 90 days Over 90 days impaired Total

Bank dan Cash in banks and setara kas 2.489.903.526.962 - - - - 2.489.903.526.962 cash equivalents Piutang usaha 1.145.997.322.172 - - - 193.052.001.691 952.945.320.481 Trade receivable Piutang lain-lain 59.148.970.451 - - - 48.064.179.874 11.084.790.577 Other receivables Aset lancar lainnya 702.862.086.430 - - - - 702.862.086.430 Other current assets Aset lain-lain Other non-current assets Deposito yang Restricted deposits dijaminkan 1.340.135.020.363 - - - - 1.340.135.020.363

Total 5.738.046.926.378 - - - 241.116.181.565 5.496.930.744.813 Total

2013 `

Belum jatuh tempo atau Telah jatuh tidak tempo mengalami Telah jatuh tempo tetapi dan penurunan belum mengalami penurunan nilai/ mengalami nilai/ Past Due but not impaired penurunan Neither nilai/ past due lebih dari Past due nor < 30 hari/ 30 – 90 hari/ 90 hari/ and Total/ impaired < 30 days 30 - 90 days Over 90 days impaired Total

Bank dan Cash in banks setara kas 3.158.549.419.907 - - - - 3.158.549.419.907 and cash equivalents Piutang usaha 469.657.079.623 - - - 189.039.068.327 280.618.011.296 Trade receivable Piutang lain-lain 50.549.076.854 - - - 44.025.189.785 6.523.887.069 Other receivables Aset lancar lainnya 4.077.782.362.886 - - - - 4.077.782.362.886 Other current assets Aset lain-lain Other non-current assets Deposito yang Restricted deposits dijaminkan 699.382.771.745 - - - - 699.382.771.745

Total 8.455.920.711.015 - - - 233.064.258.112 8.222.856.452.903 Total








61


1. Risiko kredit (lanjutan) 1. Credit risk (continued)

Kualitas kredit instrumen keuangan dikelola oleh Perum BULOG dan Entitas Anak menggunakan peringkat kredit internal. Instrumen keuangan diklasifikasikan sebagai "Belum jatuh tempo atau diturunkan nilainya" meliputi instrumen dengan kualitas kredit tinggi karena ada sedikit atau tidak ada pengalaman kegagalan (default) pada kesepakatan berdasarkan surat kuasa, surat jaminan atau promissory note. "Telah jatuh tempo tetapi belum diturunkan nilainya" adalah akun-akun dengan pengalaman kegagalan (default) yang sering namun demikian jumlah terhutang masih tertagih. Terakhir, "Telah jatuh tempo dan diturunkan nilainya" adalah akun yang telah lama belum dilunasi dan telah dibentuk penyisihan kerugian penurunan nilai atas piutang.

The credit quality of financial instruments is managed by Perum BULOG and its Subsidiary using internal credit ratings. Financial instruments classified under “neither past due nor impaired” includes high grade credit quality instruments because there was few or no history of default on the agreed terms based on the letter of authorization, letter of guarantee or promissory note. “past due but not impaired” are items with history of frequent default nevertheless the amount due are still collectible. Lastly, “past due and impaired” are those that are long outstanding and has been provided with allowance for impairment loss on receivables.

Manajemen yakin akan kemampuan Perum BULOG dan Entitas Anak untuk mengendalikan dan memelihara eksposur risiko kredit pada tingkat yang minimum dengan membentuk penyisihan penurunan nilai untuk menutupi kemungkinan kerugian atas tidak tertagihnya piutang berdasarkan data historis kerugian yang ada.

Management is confident in its ability to continue to control and sustain minimal exposure of credit risk to Perum BULOG and its Subsidiary with set sufficient allowance for impairment losses to cover incurred losses arising from uncollectible receivables based on historical loss.

2. Risiko pasar 2. Market risk

Risiko pasar adalah risiko dimana nilai wajar dari arus kas masa depan dari suatu instrumen keuangan akan berfluktuasi karena perubahan harga pasar. Perum BULOG dan Entitas Anak dipengaruhi oleh risiko pasar, terutama risiko suku bunga dan nilai tukar mata uang asing.

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Perum BULOG and its Subsidiary are exposed to market risks, in particular, interest rate risk and foreign currency exchange risk.

Risiko Tingkat Suku Bunga Interest Market Risk

Risiko tingkat suku bunga adalah risiko dimana nilai wajar atau arus kas masa depan dari suatu instrumen keuangan berfluktuasi karena perubahan suku bunga pasar. Pengaruh dari risiko perubahan suku bunga pasar berhubungan dengan pinjaman dari Perum BULOG dan Entitas Anak yang dikenakan suku bunga mengambang.

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The exposure to the risk of changes in market interest rates relates primarily to Perum BULOG and its Subsidiary’s debt obligations with floating interest rates.

Perum BULOG dan Entitas Anak memonitor secara ketat fluktuasi suku bunga pasar dan ekspektasi pasar sehingga dapat mengambil langkah-langkah yang paling menguntungkan Perum BULOG dan Entitas Anak secara tepat waktu. Manajemen tidak menganggap perlunya melakukan swap suku bunga pada saat ini.

Perum BULOG and its Subsidiary closely monitors the market interest rate fluctuation and market expectation so it can take necessary actions benefited most to Perum BULOG and its Subsidiary in due time. The management currently does not consider the necessity to enter into any interest rate swaps.

Tabel berikut menunjukkan sensitivitas atas perubahan yang wajar dari tingkat suku bunga atas saldo pinjaman yang dikenakan suku bunga mengambang, dimana semua variabel lainnya dianggap konstan, terhadap laba sebelum beban pajak untuk tahun yang berakhir tanggal 31 Desember 2014:

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on the floating interest loans, with all other variables held constant, to the income before tax for the year ended December 31, 2014:

Kenaikan (penurunan) Efek terhadap laba dalam basis poin / sebelum pajak / Increase (decrease) Effect on income Efek terhadap ekuitas / in basis point before tax Effect on equity 2014 Rupiah + 100 123.399.726.244 92.549.794.683 Rupiah - 100 (123.399.726.244) (92.549.794.683)








62


2. Risiko pasar (lanjutan) 2. Market risk (continued)

Risiko Nilai Tukar Mata Uang Asing Foreign Exchange Risk Risiko nilai tukar mata uang adalah risiko yang timbul dari perubahan nilai tukar Rupiah sebagai mata uang pelaporan terhadap mata uang asing, terutama Dolar USD.

Foreign currency exchange risk is the risk that arises from the changes of exchange rate of Rupiah as the reporting currency against foreign currency, especially US Dollar.

Risiko nilai tukar mata uang asing adalah risiko dimana nilai wajar atau arus kas masa datang dari suatu instrumen keuangan akan berfluktuasi akibat perubahan nilai tukar mata uang asing. Eksposur Perum BULOG dan Entitas Anak terhadap fluktuasi nilai tukar berasal dari selisih nilai tukar antara Rupiah dan US Dolar. Bagian signifikan dari risiko nilai tukar mata uang asing merupakan kontribusi secara tunai dalam mata uang US Dolar pada bank. Efek dari perubahan yang wajar dari US Dolar ke Rupiah, dengan semua variable lain di anggap konstan, di anggap tidak material oleh manajemen.

Foreign currency exchange rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. Perum BULOG and its Subsidiary’s exposure to exchange rate fluctuations comes from the exchange rate difference between Rupiah and US Dollar. The significant portion of the foreign currency exchange risk is contributed by US Dollar denominated cash in banks. The effect to a reasonable possible change in the US Dollar againts Rupiah, with all others variables held constant, is considered by management to be immaterial

Perum BULOG dan Entitas Anak memonitor secara ketat fluktuasi dari nilai tukar mata uang asing sehingga dapat mengambil langkah-langkah yang paling menguntungkan Perum BULOG dan Entitas Anak pada waktu yang tepat. Manajemen tidak menganggap perlu untuk melakukan transaksi forward/swap mata uang asing saat ini

Perum BULOG and its Subsidiary closely monitor the foreign exchange rate fluctuation and market expectation so it can take necessary actions benefited most to the Company in due time. The management currently does not consider the necessity to enter into any currency forward/swaps.

Aset keuangan Perum BULOG dan Entitas Anak yang signifikan dalam mata uang asing pada tanggal 31 Desember 2014 dan 2013 di sajikan dalam Catatan 29.

Perum BULOG and its Subsidiary’s siginificant monetary assets denominated in foreign currency as of December 31, 2014 and 2013 is presented in Note 29.

3. Risiko likuiditas 3. Liquidity risk

Risiko likuiditas adalah risiko dimana Perum BULOG dan Entitas Anak tidak bisa memenuhi liabilitas pada saat jatuh tempo. Manajemen melakukan evaluasi dan pengawasan yang ketat atas arus kas masuk (cash-in) dan kas keluar (cash-out) untuk memastikan tersedianya dana untuk memenuhi kebutuhan pembayaran liabilitas yang jatuh tempo. Secara umum, kebutuhan dana untuk pelunasan liabilitas jangka pendek maupun jangka panjang yang jatuh tempo diperoleh dari penjualan kepada pelanggan

Liquidity risk is the risk that Perum BULOG and its Subsidiary are unable to meet its obligations when they fall due. The management evaluates and monitors cash - in flows and cash - out flows to ensure the availability of fund to settle the due obligation. In general, fund needed to settle the current and long - term liabilities is obtained from sales activities to customers

Tabel berikut ini menunjukan profil jangka waktu pembayaran liabilitas Perum BULOG dan Entitas Anak berdasarkan pembayaran dalam kontrak pada tanggal 31 Desember 2014 dan 2013:

The table below summarises the maturity profile of the Perum BULOG and its Subsidiary’s financial liabilities based on contractual payments as of December 31, 2014 and 2013:

2014

Kurang 3 bulan dan 1 dan 2 dan Lebih Dari 1 tahun/ 2 tahun/ 5 tahun/ dari 3 bulan/ Between Between Between 5 tahun/ Less than 3 months 1 and 2 and Over Total/ 3 months and 1 year 2 years 5 years 5 years Total `

Utang bank jangka pendek - 12.940.816.604.866 - - - 12.940.816.604.866 Short-term bank loans Utang usaha Trade payables Pihak ketiga - 1.551.818.703.055 - - - 1.551.818.703.055 Third parties Pemerintah - 1.142.777.128.274 - - - 1.142.777.128.274 Government Biaya yang masih harus dibayar - 242.804.148.020 - - - 242.804.148.020 Accrued expenses `

Total liabilitas keuangan - 15.878.216.584.215 - - - 15.878.216.584.215 Total financial liabilities `








63


3. Risiko likuiditas (lanjutan) 3. Liquidity risk (continued)

2013

Kurang 3 bulan dan 1 dan 2 dan Lebih Dari 1 tahun/ 2 tahun/ 5 tahun/ dari 3 bulan/ Between Between Between 5 tahun/ Less than 3 months 1 and 2 and Over Total/ 3 months and 1 year 2 years 5 years 5 years Total `

Utang bank jangka pendek - 13.425.193.835.943 - - - 13.425.193.835.943 Short-term bank loans Utang usaha Trade payables Pihak ketiga - 2.938.690.862.798 - - - 2.938.690.862.798 Third parties Pemerintah - 1.142.777.128.274 - - - 1.142.777.128.274 Government Biaya yang masih harus dibayar - 88.045.215.018 - - - 88.045.215.018 Accrued expenses `

Total liabilitas keuangan - 17.594.707.042.033 - - - 17.594.707.042.033 Total financial liabilities `

4. Pengelolaan Modal 4. Capital management

Tujuan utama pengelolaan modal Perum BULOG dan Entitas Anak adalah untuk memastikan pemeliharaan peringkat kredit yang tinggi dan rasio modal yang sehat untuk mendukung usaha dan memaksimalkan imbalan bagi pemegang saham.

The primary objective of Perum BULOG and its Subsidiary’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its businesses and maximize shareholder value.

Manajemen Perum BULOG and Entitas Anak mengelola struktur permodalan dan melakukan penyesuaian, berdasarkan perubahan kondisi ekonomi. Tidak ada perubahan yang dibuat dalam tujuan, kebijakan, atau proses selama periode yang disajikan.

Perum BULOG and its Subsidiary manages its capital structure and makes adjustments to it, in light of changes in economic conditions. No changes were made in the objectives, policies or processes during the periods presented.

Kebijakan Perum BULOG adalah untuk menjaga rasio modal yang sehat dalam rangka untuk mengamankan pembiayaan pada biaya yang wajar.

Perum BULOG and its Subsidiary policy is to maintain a healthy capital structure in order to secure access to finance at a reasonable cost.

Tabel di bawah ini menyimpulkan jumlah modal dari Perum BULOG pada tanggal 31 Desember 2014 dan 2013 adalah:

The table below summarizes the total capital considered by the Perum BULOG as of December 31, 2014 and 2013:

2014 2013

Utang bank jangka pendek 12.940.816.604.866 13.425.193.835.943 Short-term bank loans Modal pemerintah 6.847.135.795.560 6.847.135.795.560 Government capital Defisit (3.099.151.834.103 ) (2.636.643.538.119) Deficit

Total 16.688.800.566.323 17.635.686.093.384 Total

29. ASET DALAM MATA UANG ASING 29. ASSET DENOMINATED IN FOREIGN CURRENCY

Saldo aset moneter dalam mata uang asing serta konversinya ke dalam mata uang rupiah dengan menggunakan kurs yang ditetapkan oleh Bank Indonesia masing-masing pada tanggal akhir periode pelaporan adalah sebagai berikut:

Monetary asset denominated in foreign currency and its Rupiah equivalent using the exchange rate set by Bank Indonesia at each end of the reporting period is as follows:

2014 2013

Mata Uang Asing/ Mata Uang Rupiah/ Mata Uang Asing/ Mata Uang Rupiah/ Foreign Currency Rupiah Equivalent Foreign Currency Rupiah Equivalent

Aset Assets Setara kas AS$ / USD 26.546.940 330.243.933.600 AS$ / USD 56.378.877 687.202.128.706 Cash in banks Aset lainnya AS$ / USD 12.000.000 149.280.000.000 AS$ / USD - - Other asset

Total 479.523.933.600 687.202.128.706 Total








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29. ASET DALAM MATA UANG ASING 29. ASSET DENOMINATED IN FOREIGN CURRENCY

Kurs rata-rata mata uang asing pada tanggal 13 Pebruari 2015 adalah sebesar Rp 12.769 untuk 1 Dolar AS. Kurs tersebut dihitung berdasarkan rata-rata kurs beli dan jual uang kertas asing dan/ atau kurs transaksi yang ditetapkan oleh Bank Indonesia pada tanggal tersebut. Jika aset dan liabilitas dalam mata uang asing pada tanggal 31 Desember 2014 dijabarkan dengan menggunakan kurs rata-rata pada tanggal 13 Pebruari 2015, maka laba selisih kurs akan naik sebesar Rp 12.681.943.260.

The exchange rate as of February 13, 2015 is Rp 12,769 to USD 1. This was calculated based on the average buying and selling rates of Bank notes and/ or transaction exchange rates last quoted by Bank Indonesia on that date. If the monetary asset in foreign currency as of December 31, 2014 was translated using the middle rate as of February 13, 2015, the net asset would increase by approximately Rp 12,681,943,260.

30. KELOMPOK INSTRUMEN KEUANGAN 30. FINANCIAL INSTRUMENTS BY CATEGORY

Tabel di bawah ini menyajikan perbandingan atas nilai tercatat dengan nilai wajar dari instrumen keuangan Perum BULOG dan Entitas Anak yang tercatat dalam laporan keuangan.

The table sets forth the carrying values and estimated fair values of the Perum BULOG and its Subsidiary’s financial instruments that are carried in the financial statements:

2014 2013

Nilai Tercatat/ Nilai Wajar/ Nilai Tercatat/ Nilai Wajar/ Carrying Value Fair Value Carrying Value Fair Value

Aset Keuangan Financial Assets Pinjaman dan piutang Loans and receivables Kas dan setara kas 2.502.988.091.071 2.502.988.091.071 3.264.634.481.092 3.264.634.481.092 Cash and cash equivalent Piutang usaha 952.945.320.481 952.945.320.481 280.618.011.296 280.618.011.296 Trade receivables Piutang lain-lain 11.084.790.577 11.084.790.577 6.523.887.069 6.523.887.069 Other receivables Aset lancar lainnya 702.862.086.429 702.862.086.429 4.077.782.362.886 4.077.782.362.886 Other current assets

Aset lain-lain Deposito yang Other non-current asset dijaminkan 1.340.135.020.363 1.340.135.020.363 699.382.771.745 699.382.771.745 Restricted deposits

Total 5.510.015.308.921 5.510.015.308.921 8.328.941.514.088 8.328.941.514.088 Total

Liabilitas keuangan Financial Liabilities Liabilitas keuangan yang dicatat berdasarkan Financial liabilities biaya perolehan measured at diamortisasi amortized cost Utang bank jangka pendek 12.940.816.604.866 12.940.816.604.866 13.425.193.835.943 13.425.193.835.943 Short-term bank loans

Utang usaha Trade payables Pihak ketiga 1.551.818.703.055 1.551.818.703.055 2.938.690.862.798 2.938.690.862.798 Third parties Pemerintah 1.142.777.128.274 1.142.777.128.274 1.142.777.128.274 1.142.777.128.274 Government

Beban yang masih harus dibayar 242.804.148.020 242.804.148.020 88.045.215.018 88.045.215.018 Accrued expenses

Total 15.878.216.584.215 15.878.216.584.215 17.594.707.042.033 17.594.707.042.033 Total

Berikut metode dan asumsi yang digunakan untuk estimasi nilai wajar:

The following method and assumption used to estimate fair values:

Nilai wajar kas dan setara kas, piutang usaha, piutang lain-lain, aset lancar lainnya, utang bank jangka pendek, utang usaha dan beban yang masih harus dibayar mendekati nilai tercatat karena jangka waktu jatuh tempo yang singkat atas instrumen keuangan tersebut.

The fair value of cash and cash equivalents, trade receivables, other receivables, other current assets, short-term bank loans, trade payables, and accrued expenses approximate their carrying amounts largely due to short-term maturities of these instruments.

Deposit yang dijaminkan yang nilai wajarnya tidak dapat diukur, dinilai berdasarkan biaya perolehan.

Restricted deposits which fair value cannot be measured, reliably is measured at cost.








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31. SUBSIDI BERAS RASKIN 31. RICE SUBSIDY RASKIN

Harga pembelian beras tahun 2014 oleh Pemerintah sebesar Rp 8.047,69/kg, dengan perhitungan harga jual Raskin yang dibayarkan oleh penerima manfaat sebesar Rp 1.600/kg.

The government rice purchase price in 2014 is set at Rp 8,047.69/kg, with calculation of the sale price paid by Raskin beneficiaries at Rp 1,600/kg.

Sesuai dengan Peraturan Menteri Keuangan Republik

Indonesia No. 237/PMK.02/2012 dan Surat Menteri Keuangan Republik Indonesia No. S-469/MK.02/2014 tanggal 25 Juli 2014 perihal: penetapan HPB Pemerintah kepada Perum BULOG tahun 2014 HPB ditetapkan sebesar Rp 8.047,69/kg, alokasi per RTS menjadi 15 kg/RTS per 31 Desember 2014 jumlah Raskin tahun 2014 sebanyak 2.774.869.305 kg dan jumlah subsidi menjadi Rp 22.331.287.957.155.

Based on regulation Minister of Finance No.237/PMK.02/2012 and letter Minister of Finance No. S-469/MK.02/2014 dated July 25, 2014, regarding Government rice purchase price to Perum Bulog in 2014, rice purchase price is set at Rp 8,047.69/kg, allocated per RTS, thus 15kg/RTS per December 31, 2014, resulting to the total rice subsidy for Raskin in 2014 of 2,774,869,305 kgs, with a total amount of Rp 22,331,287,957,155.

Harga pembelian beras tahun 2013 oleh Pemerintah sebesar Rp 7.751,89/kg, dengan perhitungan harga jual Raskin yang dibayarkan oleh penerima manfaat sebesar Rp 1.600/kg.

The government rice purchase price in 2013 is set at Rp 7,751.86/kg, with calculation of the sale price paid by Raskin beneficiaries at Rp 1,600/kg.

Sesuai dengan Peraturan Menteri Keuangan Republik

Indonesia No. 237/PMK.02/2012 dan Surat Menteri Keuangan Republik Indonesia No. S-167/MK.02/2013 tanggal 4 Maret 2013, perihal: HPB Pemerintah kepada Perum BULOG tahun 2013 HPB ditetapkan sebesar Rp 7.751,86/kg, alokasi per RTS menjadi 15kg/RTS per 31 Desember 2013 jumlah Raskin tahun 2013 sebanyak 3.431.615.220 kg dan jumlah subsidi menjadi Rp 13.925.123.039.050.

Based on the regulation of the Minister of Finance Decree No. 237/PMK.02/2012 and letter Minister of Finance No. S-167/MK.02/2013 dated March 4,2013, regarding Government rice purchase price to Perum BULOG in 2013, rice purchase price is set at Rp 7,751.86/kg, allocated RTS, thus 15kg/RTS, resulting to the total rice subsidy for raskin in 2013 of 3,431,615,220 kgs, and the amount of rice subsidy amounted to Rp 13,925,123,039,050.








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32. INFORMASI SEGMEN USAHA 32. SEGMENT INFORMATION

2014

Keterangan/ Description

Segmentasi Sebelum Eliminasi/ Segment before elimination

Eliminasi/ Elimination

Jumlah/Total Pelayanan Publik/

Public service Komersial/ Commercial

Pelayanan Publik/ Public services

Komersial/ Commercial

Rp Rp Rp Rp Rp Pendapatan Usaha/ Revenues

Penjualan/ Sales

Eksternal/ External 24.918.744.476.017 1.643.967.860.034 - - 26.562.712.336.051

Internal/ Internal 4.261.131.399.656 - 4.261.131.399.656 -

Total Penjualan/ Total Revenues 24.918.744.476.017 5.905.099.259.690 - 4.261.131.399.656 26.562.712.336.051

Harga Pokok Penjualan/ Cost of goods sold


Internal/ Internal 3.186.070.582.020 24.754.884.465 3.210.825.466.485 - -

Total Harga Pokok Pendapatan Total Cost of revenues 20.368.699.761.861 5.464.529.978.733 3.210.825.466.485 22.622.404.274.109

Laba Bruto / Gross profit 4.550.044.714.156 440.569.280.957 (3.210.825.466.485) 4.261.131.399.656 3.940.308.061.942

Beban Usaha/ operating expenses

Beban Umum dan Administrasi General and administrative expenses

Beban Pegawai/ Employee expenses 912.265.301.002 78.240.409.225 - - 990.505.710.227 Beban Kantor/ Office expenses 393.640.703.747 51.147.273.155 - - 444.787.976.902 Beban Pajak/ Taxes expense 43.846.666.316 5.324.858.756 - - 49.171.525.072

Beban Penyisihan dan Penyusutan/ Provision and depreciation expenses

94.639.892.336

22.462.436.245 - -

117.102.328.581

Total Beban Umum dan Administrasi/ Total General and administrative expenses 1.444.392.563.401 157.174.977.381 - - 1.601.567.540.782

Beban Eksploitasi/ Exploitation expenses

Eksternal/ External 550.893.128.301 13.542.825.588 - - 564.435.953.890

Internal/ Internal 722.267.235.524 - 722.267.235.524 - -

Total Beban Eksploitasi/ Total exploitation expenses 1.273.160.363.825 13.542.825.588 722.267.235.524 564.435.953.889 Beban Penjualan/ Selling expenses Eksternal/ External 309.436.493.866 3.289.389.024 - - 312.725.882.890


Total Biaya Penjualan/ Total selling expenses 637.475.191.513 3.289.389.024 328.038.697.647 - 312.725.882.890

Total Biaya Usaha/ Total operating expenses 3.355.028.118.739 174.007.191.993 1.050.305.933.171 - 2.478.729.377.561

Laba Operasi/ Income from operations 1.195.016.595.417 266.562.088.964 (4.261.131.399.656) 4.261.131.399.656 1.461.578.684.381 Pendapatan (Beban) Lain-lain/ Other income (expenses) Pendapatan/ Income 209.097.122.237 271.430.594.060 - - 480.527.716.297 Biaya/ Expenses ( 2.415.424.571.170) ( 96.856.815.162) - - (2.512.281.386.332) Pendapatan (beban) lain-lain/ Other income (expenses) - net (2.206.327.448.933) 174.573.778.898 - - (2.031.753.670.035)

Laba (Rugi) Sebelum Pajak Penghasilan/ Income (loss) before income tax benefit (1.011.310.853.516) 441.135.867.862 (4.261.131.399.656) 4.261.131.399.656

(570.174.985.654)

Manfaat (Beban) Pajak Penghasilan/ Income tax benefit (expense) Pajak Kini/ Current (23.216.420.000) - - (23.216.420.000)

Pajak Tangguhan/ Deferred 125.849.309.130 8.633.525.724 - - 134.482.834.854

Total Manfaat (Beban) Pajak Penghasilan/ Income tax benefit

(expense) - net

125.849.309.130 (14.582.894.276) - - 111.266.414.854 Laba (Rugi) Neto / Net income (loss) (885.461.544.386) 426.552.973.586 (4.261.131.399.656) 4.261.131.399.656 (458.908.570.800)








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32. INFORMASI SEGMEN USAHA (lanjutan) 32. SEGMENT INFORMATION (continued)

2013

Keterangan/ Description

Segmentasi Sebelum Eliminasi/ Segment before elimination

Eliminasi/ Elimination

Jumlah/Total Pelayanan Publik/

Public service Komersial/ Commercial

Pelayanan Publik/ Public services

Komersial/ Commercial

Rp Rp Rp Rp Rp Pendapatan Usaha/ Revenue

Penjualan/ Sales

Eksternal/ External 28.021.189.956.605 868.889.278.554 - - 28.890.079.235.159

Internal/ Internal 4.461.293.571.035 - 4.461.293.571.035 -

Jumlah Penjualan/ Total Revenues 28.021.189.956.605 5.330.182.849.589 - 4.461.293.571.035 28.890.079.235.159

Harga Pokok Penjualan/ Cost of goods sold


Internal/ Internal 3.196.988.511.882 - 3.196.988.511.882 - -

Jumlah Harga Pokok Pendapatan Total Cost of revenues 23.562.514.290.076 5.074.906.026.878 3.196.988.511.882 25.440.431.805.072

Laba Kotor/ Gross profit 4.458.675.666.529 255.276.822.711 (3.196.988.511.882) 4.461.293.571.035 3.449.647.430.087

Beban Usaha/ operating expenses

Beban Umum dan Administrasi General and administrative expenses

Beban Pegawai/ Employee expenses 866.750.242.046 35.297.211.307 - - 902.047.453.353 Beban Kantor/ Office expenses 359.328.781.171 25.129.131.253 - - 384.457.912.424 Beban Pajak/ Taxes expenses 33.297.073.659 1.451.609.138 - - 34.748.682.797

Beban Penyisihan dan Penyusutan/ Provision and depreciation expenses

167.349.659.527

12.951.984.495 - -

180.301.644.022

Jumlah Beban Umum dan Administrasi/ Total General and administrative expenses 1.426.725.756.403 74.829.936.193 - - 1.501.555.692.596

Beban Eksploitasi/ Exploitation expenses

Eksternal/ External 228.557.576.059 11.495.349.576 - - 240.052.925.635


Jumlah Beban Eksploitasi/ Total exploitation expenses 1.108.680.458.672 11.495.349.576 880.122.882.613 240.052.925.635 Beban Penjualan/ Selling expenses Eksternal/ External 406.827.492.802 2.180.434.524 - - 409.007.927.326


Jumlah Biaya Penjualan/ Total selling expenses 791.009.669.342 2.180.434.524 384.182.176.540 - 409.007.927.326

Jumlah Biaya Usaha/ Total operating expenses 3.326.415.884.417 88.505.720.293 1.264.305.059.153 - 2.150.616.545.557

Laba operasi/ Income from operations 1.132.259.782.112 166.771.102.418

(4.461.293.571.035) 4.461.293.571.035 1.299.030.884.530 Pendapatan (Beban) Lain-lain/ Other income (expenses) Pendapatan/ Income 278.349.287.615 357.638.493.411 - - 635.987.781.026 Biaya/ Expenses (2.351.687.234.975) (59.557.217.211) - - (2.411.244.452.186)

Pendapatan (beban) Lain-lain/ Other income (expenses) - net (2.073.337.947.360) 298.081.276.200 - - (1.775.256.671.160)

Laba (Rugi) Sebelum Pajak Penghasilan/ Income (loss) before income tax benefit (941.078.165.248) 464.852.378.618 (4.461.293.571.035) 4.458.032.518.060 (476.225.786.630)

Manfaat (Beban) Pajak Penghasilan/ Income tax benefit (expense) Pajak Kini/ Current - (4.616.937.500) - - (4.616.937.500)

Pajak Tangguhan/ Deferred 134.613.045.080 4.174.120.792 - - 138.787.165.872

Jumlah Manfaat (Beban) Pajak Penghasilan/ Income tax benefit (expense) - net 134.613.045.080 (442.816.708) - - 134.170.228.372

Laba (Rugi) Bersih/ Net income (loss) (806.465.120.168) 464.409.561.910 (4.461.293.571.035) 4.458.032.518.060 (342.055.558.258)








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33. KONTIJENSI DAN KEJADIAN SETELAH AKHIR PERIODE PELAPORAN

33. CONTINGENCIES AND SUBSEQUENT EVENT

Kontinjensi Contingencies

Berdasarkan Surat Menteri Keuangan No. S-348/MK.02/2014 tanggal 16 Juni 2014 mengenai Harga Pembelian Beras (HPB) Pemerintah kepada Perum BULOG tahun 2014 bahwa Harga Pembelian Beras (HPB) tahun 2014 ditetapkan sebesar Rp 8.047,69. HPB tersebut dalam pelaksanaannya akan diaudit oleh Badan Pemeriksa Keuangan RI sehingga dikemudian hari akan terdapat perubahan atas HPB tersebut.

Based on the Letter of Finance Minister No. S-348/MK.02/2014 dated June 16, 2014, regarding Government Rice Purchase Price (HPB) to Perum BULOG in 2014 is decided at an amount of Rp 8,047.69. HPB in its implementation is subject to Indonesian State Audit Board review, wherein HPB will be adjusted to follow the result of review.

Kejadian Setelah Akhir Periode Pelaporan Subsequent Events

i. Berdasarkan Keputusan Menteri Negara Badan

Usaha Milik Negara Nomor: SK-276/MBU/12/2014 dan Nomor: SK-277/MBU/12/2014 tanggal 31 Desember 2014 diperbarui dengan Nomor: SK-17/MBU/02/2015 tanggal 2 Pebruari 2015 tentang Pemberhentian, Pengalihan Penugasan dan Pengangkatan Anggota-anggota Direksi Perum BULOG, susunan Dewan Pengawasan dan Direksi Perum BULOG adalah sebagai berikut:

i. Based on the Decree of State Enterprises Minister No. SK-276/MBU/12/2014 and No. SK-277/MBU/12/2014 dated December 31, 2014 with renewal letter No. SK-17/MBU/02/2015 dated February 2, 2015 regarding the Dismissal and Appointment of Members of the Board of Directors, the composition of the Boards of Trustees and Directors of the Perum BULOG are as follows:

Setelah Perubahan/ Sebelum Perubahan/ After Changes Before Changes

Dewan Pengawas/ Board of Trustees Ketua Dewan Pengawas/ Chairman of the Supervisory Board Sudar Sastro Atmojo Harianto Dewan Pengawas/Trustee Ardiansyah Parman Purwiyanto Dewan Pengawas/Trustee Farid Zaenuddin Harbrinderjit Singh Dillon

Dewan Pengawas/Trustee Andi Muawiyah Ramly Sholihin Hidayat Dewan Pengawas/Trustee Ali Arief Johanes Budi Raharjo Direksi/ Board of Directors Direktur Utama/ President Director Lenny Sugihat Sutarto Alimoeso Direktur Keuangan/ Financial Director Iryanto Hutagaol Budi Purwanto Direktur Pelayanan Publik/ Director of Public Services - Agusdin Fariedh

Direktur Perencanaan dan Pengembangan Usaha/ Director of Planning and Business Development - Rito Angky Pratomo Direktur Umum dan SDM / General Affairs

and Human Resources - Abdul Karim

ii. Berdasarkan Surat Kepala Divisi Regional Nusa Tenggara Barat Nomor B-23/2300/02/2015 tanggal 11 Pebruari 2015 perihal tindak lanjut kekurangan stok gabah dan beras di Divre NTB, manajemen telah membebankan atas kehilangan sebanyak 1.166.560 kg sebesar Rp 7.934.085.851 yang sudah dibebankan ke harga pokok pendapatan di tahun 2014. Dikarenakan manajemen masih melakukan tindak lanjut karena kemungkinan adanya penambahan hilangnya persediaan, maka sampai dengan tanggal pemeriksaan belum diketahui jumlah tambahan tersebut.

ii. Based on letter from head regional division of Nusa Tenggara Barat No. B-23/2300/02/2015 dated February 11, 2015 regarding the follow-up of grain and rice shortages in NTB regional division, management has determined that there is a total of 1,166,560 kgs inventory losses amounting to Rp 7,934,085,851 which has been charged to cost of revenues in 2014. Due to the management has detected additional inventory loss, the management has done follow-up however the amount of this additional inventory loss is still unknown as of the reporting date.








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34. STANDAR AKUNTANSI BARU 34. NEW ACCOUNTING STANDARDS

Ikatan Akuntan Indonesia (IAI) telah menerbitkan

revisi atas beberapa standar akuntansi yang mungkin berdampak pada laporan keuangan.

The Indonesian Institute of Accountants (IAI) has released revisions to several accounting standards that may have certain impacts on the financial statements.

Standar berikut ini berlaku untuk laporan keuangan yang periodenya dimulai pada atau setelah 1 Januari 2015:

The following standards are effective for financial statements for the period commencing from on or after January 1, 2015:

- PSAK 1 (2013) – “Penyajian Laporan Keuangan”; - PSAK 1 (2013) – “Presentation of Financial Statements”;

- PSAK 24 (2013) – “Imbalan Kerja”; - PSAK 24 (2013) – “Employee Benefits”; - PSAK 46 (2013) – “Pajak Penghasilan” - PSAK 46 (2013) – “Income Tax” - PSAK 48 (2013) – “Penurunan Nilai Aset” - PSAK 48 (2013) – “Impairment of Assets” - PSAK 50 (2013) – “Instrumen Keuangan :

Penyajian” - PSAK 50 (2013) – “Financial Instrument :

Presentation” - PSAK 55 (2013) – “Instrumen Keuangan :

Pengakuan dan Pengukuran” - PSAK 55 (2013) – “Financial Instrument :

Recognition and Measurement” - PSAK 60 (2013) – “Instrumen Keuangan :

Pengungkapan” - PSAK 60 (2013) – “Financial Instrument : Disclosure”

- PSAK 65 (2013) – “Laporan Keuangan Konsolidasian”;

- PSAK 65 (2013) – “Consolidated Financial Statements”;

- PSAK 66 – “Pengaturan Bersama”; - PSAK 66 – “Joint Arrangements”; - PSAK 68 – “Pengukuran Nilai Wajar”; - PSAK 68 – “Fair Value Measurement”.

Perum BULOG dan Entitas Anak sedang menganalisa dampak penerapan standar akuntansi revisi/ baru dan interpretasi tersebut di atas terhadap laporan keuangan konsolidasian.

Perum BULOG and its Subsidiary are still assessing the impact of these revised/new accounting standards and interpretations on their consolidated financial statements.

35. INFORMASI TAMBAHAN 35. SUPPLEMENTARY INFORMATION

Informasi tambahan pada halaman 70 sampai dengan halaman 75 adalah informasi keuangan Perum BULOG (induk perusahaan saja) pada dan untuk tahun yang berakhir pada tanggal 31 Desember 2014 dan 2013 yang menyajikan investasi Perum BULOG pada Entitas Anak berdasarkan metode biaya dan bukan dengan metode konsolidasi.

The supplementary information on pages 70 to 75 represents financial information of Perum BULOG (parent company only) as at and for the years ended December 31, 2014 and 2013, which presents the Perum BULOG’s investments in Subsidiary under the cost method, as opposed to the consolidation method.

INFORMASI TAMBAHAN/SUPPLEMENTARY INFORMATION

70

PERUSAHAAN UMUM BULOG (INDUK PERUSAHAAN SAJA) LAPORAN POSISI KEUANGAN


PERUSAHAAN UMUM BULOG (PARENT COMPANY ONLY)

STATEMENT OF FINANCIAL POSITION As of December 31, 2014


Catatan/ 2014 Notes 2013 ASET ASSETS ASET LANCAR CURRENT ASSETS Kas dan setara kas 2.360.806.524.5592,4,28,29 3.154.638.464.511 Cash and cash equivalents Piutang usaha - setelah dikurangi Trade receivables - net of penyisihan penurunan nilai pada allowance for impairment losses 31 Desember 2014 of Rp 193,052,001,691 sebesar Rp 193.052.001.691 dan as of December 31 2014 sebesar Rp 189.039.068.327 pada and Rp 189,039,068,327 31 Desember 2013 984.176.070.449 2,5,28,29 272.603.234.425 as of December 31, 2013 Piutang lain-lain - setelah dikurangi Other receivables - net of penyisihan penurunan nilai pada allowance for 31 Desember 2014 of Rp 48,064,179,874 sebesar Rp 48.064.179.874 dan as of December 31, 2014 and sesbesar Rp 44.025.189.785 pada and Rp 44,025,189,785 31 Desember 2013 8.497.084.858 8.006.700.734 as of December 31, 2013 Uang muka 23.527.486.171 14.532.836.260 Advances Persediaan 11.031.392.573.519 13.897.330.932.739 Inventories Pajak dibayar di muka 377.637.801 6.405.727.526 Prepaid taxes Pendapatan masih harus diterima 3.368.565.023 2.826.926.432 Accrued income Biaya dibayar di muka 1.878.058.758 2.524.402.801 Prepaid expenses Aset lancar lainnya 706.268.086.434 4.077.782.362.886 Other current assets TOTAL ASET LANCAR 15.120.292.087.572 21.436.651.588.314 TOTAL CURRENT ASSETS ASET TIDAK LANCAR NON-CURRENT ASSETS Aset pajak tangguhan 589.600.865.466 455.118.030.611 Deferred tax assets Taksiran tagihan pajak penghasilan 689.169.746.699 542.944.889.818 Estimated claim for tax refund Investasi pada entitas anak 100.634.000.000 25.158.850.000 Investment in subsidiary Uang muka investasi pada Advances investment in entitas anak 75.475.150.000 subsidiary Aset tetap - setelah dikurangi Fixed assets - net of akumulasi penyusutan sebesar accumulated depreciation Rp 1.635.397.283.075 of Rp 1,635,397,283,075 pada 31 Desember 2014 as of December 31, 2014 dan Rp 1.617.834.273.732 and Rp 1,617,834,273,732 pada 31 Desember 2013 2.142.781.778.940 2.214.570.800.076 as of Desember 31, 2013 Properti investasi - setelah dikurangi Investment property - net of akumulasi penyusutan sebesar accumulated depreciation Rp 70.266.646.417 of Rp 70,266,646,417 pada 31 Desember 2014 as of December 31, 2014 dan Rp 75.239.941.445 and Rp 75,239,941,445 pada 31 Desember 2013 183.138.901.427 178.852.612.894 as of December 31, 2013 Aset lain-lain 1.550.108.089.267 919.587.884.640 Other non-current assets ` TOTAL ASET TIDAK TOTAL NON-CURRENT LANCAR 5.255.433.381.799 4.411.708.218.039 ASSETS TOTAL ASET 20.375.725.469.371 25.848.359.806.353 TOTAL ASSETS


72

PERUSAHAAN UMUM BULOG (INDUK PERUSAHAAN SAJA)

LAPORAN POSISI KEUANGAN (lanjutan) Tanggal 31 Desember 2014



STATEMENT OF FINANCIAL POSITION (continued) As of December 31, 2014

(Expressed in Rupiah, unless otherwise stated) 2014 2013 LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY LIABILITAS JANGKA PENDEK CURRENT LIABILITIES Utang bank jangka pendek 12.940.816.604.866 13.425.193.835.943 Short-term bank loans Utang usaha Trade payables Pihak ketiga 1.527.920.802.244 2.860.794.485.705 Third parties Pihak berelasi 1.142.777.128.274 1.142.777.128.274 Related parties Utang pajak 21.284.510.214 10.374.240.584 Tax payables Biaya masih harus dibayar 241.278.212.310 145.119.421.133 Accrued expenses Uang muka penjualan 111.274.292.638 3.325.795.468.433 Sales advances Utang lancar lainnya 149.603.865 451.166.529 Other current liabilities TOTAL LIABILITAS JANGKA PENDEK 15.985.501.154.411 20.910.505.746.601 TOTAL CURRENT LIABILITIES LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES Liabilitas imbalan kerja 43.856.187.423 58.778.222.233 Employee benefits liability Kekayaan negara yang belum State assets ditentukan statusnya 675.250.887.482 675.250.887.482 with undetermined status TOTAL LIABILITAS JANGKA TOTAL NON-CURRENT PANJANG 719.107.074.905 734.029.109.715 LIABILITIES TOTAL LIABILITAS 16.704.608.229.316 21.644.534.856.316 TOTAL LIABILITIES

EKUITAS EQUITY Modal Pemerintah 6.847.135.795.560 6.847.135.795.560 Government capital Defisit (3.182.784.579.521 ) (2.650.076.869.539) Deficit Keuntungan selisih revaluasi Gain on revaluation of aset tetap 6.766.024.016 6.766.024.016 fixed assets TOTAL EKUITAS 3.671.117.240.055 4.203.824.950.037 TOTAL EQUITY TOTAL LIABILITAS DAN TOTAL LIABILITIES AND EKUITAS 20.375.725.469.371 25.848.359.806.353 EQUITY


72


LAPORAN LABA RUGI KOMPREHENSIF Tahun Yang Berakhir Pada Tanggal

31 Desember 2014 (Dinyatakan dalam Rupiah, kecuali dinyatakan lain)

PERUSAHAAN UMUM BULOG

(PARENT COMPANY ONLY) STATEMENT OF COMPREHENSIVE INCOME

For The Year Ended December 31, 2014 (Expressed in Rupiah, unless otherwise stated)

2014 2013 PENDAPATAN 26.562.712.336.051 28.885.476.630.256 REVENUES HARGA POKOK PENDAPATAN 21.747.620.755.030 25.188.515.357.474 COST OF REVENUES LABA BRUTO 4.815.091.581.021 3.696.961.272.782 GROSS PROFIT BEBAN USAHA OPERATING EXPENSES Umum dan administrasi 1.582.549.815.319 1.499.617.987.816 General and administrative Eksploitasi 1.221.592.984.961 391.418.254.445 Exploitation Penjualan 640.476.677.873 525.438.499.098 Selling Total Beban Usaha 3.444.619.478.153 2.416.474.741.359 Total Operating Expenses LABA USAHA 1.370.472.102.868 1.280.486.531.423 INCOME FROM OPERATIONS PENDAPATAN (BEBAN) LAIN-LAIN OTHER INCOME (EXPENSE) Pendapatan lain-lain 472.990.142.718 635.698.245.475 Other income Beban lain-lain (2.510.652.790.422 ) (2.411.167.849.891) Other expenses Beban Lain-lain Bersih (2.037.662.647.704 ) (1.775.469.604.416) Other Expenses - Net RUGI SEBELUM MANFAAT LOSS BEFORE INCOME (BEBAN) PAJAK PENGHASILAN (667.190.544.836 ) (494.983.072.993) TAX BENEFIT (EXPENSE) MANFAAT PAJAK PENGHASILAN INCOME TAX BENEFIT Tangguhan 134.482.834.854 138.787.165.872 Deferred RUGI NETO (532.707.709.982 ) (356.195.907.121) NET LOSS PENDAPATAN OTHER COMPREHENSIVE KOMPREHENSIF LAIN - 6.766.024.016 INCOME TOTAL COMPREHENSIVE TOTAL RUGI KOMPREHENSIF (532.707.709.982 ) (349.429.883.105) LOSS


73


LAPORAN PERUBAHAN EKUITAS Tahun Yang Berakhir Pada Tanggal



STATEMENT OF CHANGES IN EQUITY For The Year Ended December 31, 2014


Selisih penyerahanaset tetap/

Catatan/ Modal Pemerintah/ Defisit/ Total/ Gain on revaluation Ekuitas - Neto/Notes Government Capital Deficit Total of fixed asset Equity - Net

Saldo 1 Januari 2013 6.847.135.795.560 (2.293.880.962.418) 4.553.254.833.142 - 4.553.254.833.142 Balance as of January 1, 2013

Selisih penyerahan aset tetap - - - 6.766.024.016 6.766.024.016 Gain on revaluation of fixed asset

Total rugi komprehensif - (356.195.907.121) (356.195.907.121) (356.195.907.121) Total comprehensive loss

Saldo 31 Desember 2013 23 6.847.135.795.560 (2.650.076.869.539) 4.197.058.926.021 6.766.024.016 4.203.824.950.037 Balance as of December 31, 2013

Total rugi komprehensif (532.707.709.982) (532.707.709.982) (532.707.709.982) Total comprehensive loss

Saldo 31 Desember 2014 23 6.847.135.795.560 (3.182.784.579.521) 3.664.351.216.039 6.766.024.016 3.671.117.240.055 Balance as of December 31, 2014


74


LAPORAN ARUS KAS Tahun Yang Berakhir Pada Tanggal



STATEMENT OF CASH FLOWS For The Year Ended December 31, 2014

(Expressed in Rupiah, unless otherwise stated)` 2014 2013

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM OPERASI OPERATING ACTIVITIES Rugi sebelum manfaat beban pajak penghasilan (667.190.544.836) (494.983.072.993) Loss before income tax Penyesuaian rugi menjadi Adjustment of loss before kas neto yang diperoleh income tax to cash used in dari aktivitas operasi: operating activities: Penyusutan aset tetap 104.295.843.339 148.577.118.583 Depreciation of fixed assets Penyusutan properti Depreciation of investment investasi 1.621.521.690 1.309.477.824 property Penyisihan penurunan nilai Provision for impairment losses piutang usaha 9.262.634.946 24.856.728.758 of trade receivable Beban imbalan kerja 40.917.427.107 44.723.905.839 Employee benefits expenses Pembayaran imbalan kerja (55.839.461.917 ) (36.381.406.989) Employee benefits payment Rugi (laba) penjualan aset (202.182.591 ) 10.911.725.006 Loss (gain) on sale of assets Bantuan Pemerintah yang belum State assets with ditetapkan statusnya - (81.506.122.388) undetermined status Perubahan dalam aset dan liabilitas yang digunakan untuk Changes in operating aktivitas operasi: assets and liabilities: Piutang usaha (711.572.836.024 ) 204.143.182.528 Trade receivables Piutang lain-lain (490.384.124 ) (3.792.059.590) Other receivables Uang muka (8.994.649.911 ) 15.556.976.822 Advances Persediaan 2.865.938.359.221 448.120.068.164 Inventories Pendapatan yang masih harus diterima (541.638.591 ) (220.251.913) Accrued income Biaya dibayar di muka 646.344.044 4.874.534.369 Prepaid expenses Pajak dibayar di muka 6.028.089.725 (190.533.348.560) Prepaid taxes Aset lancar lainnya 3.371.514.276.449 1.022.185.393.144 Other current assets Aset lain-lain (630.520.204.627 ) 189.984.239.295 Other non-current assets Utang usaha (1.332.873.683.461 ) 225.371.238.432 Trade payables Uang muka penjualan (3.214.521.175.795 ) (1.574.388.940.802) Sales Advances Utang pajak 10.910.269.631 (50.155.382.993) Taxes payable Biaya yang masih harus dibayar 96.158.791.177 67.243.965.385 Accrued expenses Utang lancar lainnya (301.562.664 ) 64.157.047 Other current liabilities Tagihan pajak penghasilan (146.224.856.880 ) (4.616.937.500) Claim for tax refund

Kas Neto Digunakan Untuk Net Cash Used in Aktivitas Operasi (261.979.624.092 ) (28.654.812.532) Operating Activities

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING INVESTASI ACTIVITIES Perolehan aset tetap (42.516.628.469 ) (88.560.733.595) Acquisition of fixed assets Penyertaan saham entitas anak - (100.634.000.000) Acquisition of fixed assets Penerimaan penjualan Proceeds from sale of aset tetap 3.093.467.139 18.338.865.441 fixed assets

Kas Neto Digunakan Untuk Net Cash Used in Aktivitas Investasi (39.423.161.330 ) (170.855.868.154) Investing Activities


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LAPORAN ARUS KAS Untuk Tahun Yang Berakhir Pada Tanggal



STATEMENT OF CASH FLOWS For The Year Ended December 31, 2014

(Expressed in Rupiah, unless otherwise stated) 2014 2013

ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING PENDANAAN ACTIVITY Penerimaan (pembayaran) Receipt from (payment of) dari utang bank (484.377.231.078 ) 767.752.852.812 bank loans

PENGARUH PERUBAHAN EFFECT OF FOREIGN SELISIH KURS KAS EXCHANGE IN CASH DAN SETARA KAS (8.051.923.452) - AND CASH EQUIVALENTS

KENAIKAN (PENURUNAN) NET INCREASE (DECREASE) NETO SELURUH IN CASH AND CASH KAS DAN SETARA KAS (793.831.939.952 ) 568.242.172.126 EQUIVALENTS KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AWAL TAHUN 3.154.638.464.511 2.586.396.292.385 AT BEGINNING OF THE YEAR

KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS AKHIR TAHUN 2.360.806.524.559 3.154.638.464.511 AT END OF THE YEAR

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