INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
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For the financial year ended 31 December 2015
25.
PAYABLES (CONT’D)
Trade payables are normally settled on 1 to 60 days credit payment terms. These amounts are unsecured and will be
settled in cash. The carrying amounts of the Group’s trade payables, other payables and accruals approximate their
fair values.
Payables to a parent company and other payables to related parties are unsecured, repayable on demand and
non-interest bearing. These amounts will be settled in cash.
Advances from customers represent advance payments relating to future sales of finished goods. These advances are
trade in nature, unsecured, interest-free, and the obligations to the customers are expected to be fulfilled within the
next 12 months.
The Group and Company’s payables denominated in foreign currencies are as follows:
Group
Company
2015
2014
2015
2014
Rp million Rp million Rp million Rp million
US Dollars
265,785
276,231
–
2,386
Euro
5,641
22,419
–
–
Singapore Dollars
17,597
13,071
13,392
11,886
Others
1,612
10,822
–
–
26.
INTEREST-BEARING LOANS AND BORROWINGS
Maturity Collateral
Group
Company
2015
2014
2015
2014
Rp million Rp million Rp million Rp million
Current
Rupiah denominated loans
2016 Unsecured 1,578,000 1,004,000
–
–
Rupiah denominated loans
2016
Secured
(1)
715,600 1,356,680
–
–
US Dollar denominated loans
2016 Unsecured 1,514,756 1,677,845 1,033,655
–
Add: current portion of
non-current loans
590,445
710,670
–
–
Total current portion
4,398,801 4,749,195 1,033,655
–
Non-current
Rupiah denominated loans
2016 – 2018 Unsecured
14,475
20,982
–
–
Rupiah denominated loans
2016 – 2022 Secured
(1)
4,423,016 4,352,325
–
–
Rupiah denominated loans
2016 – 2019 Secured
(2)
15,496
19,620
–
–
US Dollar denominated loans 2016 – 2018 Unsecured 1,379,500
933,000
–
933,000
US Dollar denominated loans 2016 – 2019 Secured
(1)
554,559
503,820
–
–
Less: deferred charges on
bank loans
(54,798)
(50,936)
–
(3,207)
Less: current portion
(590,445)
(710,670)
–
–
Total non-current portion
5,741,803 5,068,141
–
929,793
(1)
Corporate guarantees from PT SIMP in proportion to its equity ownership in the subsidiaries
(2)
Secured by land rights under name of the plasma farmers as the members of rural cooperative units (Koperasi Unit Desa or the “KUD”),
plasma plantations and infrastructures, and corporate guarantee from a subsidiary
