PT Pan Brothers Tbk 2008-2007 Financial Reports

PT Pan Brothers Tbk dan Anak Perusahaan/
and Subsidiary
Laporan Keuangan Konsolidasian

Untuk tahun yang berakhir
31 Desember 2008 dan 2007
Consolidated Financial Statements
For the years ended 31 December 2008 and 2007
beserta Laporan Auditor Independen/

with Independent Auditor’s Report
Isi/ Contents
Halaman/ Page
Laporan Auditor Independen/ Independent Auditor’s Report
Laporan keuangan konsolidasian/ Consolidated financial statements
Neraca konsolidasian/ Consolidated balance sheets 1-2

Laporan laba rugi konsolidasian/ Consolidated statements of income 3
Laporan perubahan ekuitas konsolidasian/ Consolidated statements of changes in equity 4
Laporan arus kas konsolidasian/ Consolidated statements of cash flows 5
Catatan atas laporan keuangan konsolidasian/ Notes to consolidated financial statements 6 - 66

PT Pan Brothers Tbk dan Anak Perusahaan PT Pan Brothers Tbk and its Subsidiary
Neraca konsolidasian Consolidated balance sheets
Per 31 Desember 2008 dan 2007 As of 31 December 2008 and 2007
(Dalam Rupiah) (In Rupiah)

2008 Catatan/ 2007
Note
Aktiva Assets
Aktiva lancar Current assets
Kas dan setara kas 20.788.055.010 2d, 3, 33 36.903.507.593 Cash and cash equivalents
Piutang usaha setelah dikurangi Trade receivables – Net of
penyisihan piutang ragu-ragu allowance for doubtful account
sebesar nihil pada 2008 amounting to nil in 2008
dan 2007 and 2007
Pihak ketiga 131.155.717.473 2e, 4, 33 195.954.810.519 Third parties
Pihak hubungan istimewa 13.039.034.117 2l, 31 9.915.483.735 Related parties
Piutang lain -lain setelah Other receivables – Net of
dikurangi penyisihan piutang allowance for doubtful account
ragu-ragu sebesar nihil pada amounting to nil in
2008 dan 2007 2008 and 2007
Pihak hubungan istimewa 47.837.798.879 2l , 31 12.204.368.540 Related parties
Pihak ketiga 19.471.420.168 2e, 5, 33 16.019.584.561 Third parties
Persediaan 360.457.819.827 2f, 6 303.008.219.649 Inventories
Pajak dibayar dimuka 39.766.139.312 7a 24.903.098.176 Prepaid taxes
Biaya dibayar dimuka 873.867.053 2g, 8 2.061.828.868 Prepaid expenses
Uang muka dibayar Advance payments
Pihak ketiga 77.977.400.751 9 59.502.654.583 Third parties
Jumlah aktiva lancar 711.367.252.590 660.473.556.224 Total current assets
Akti va tidak lancar Non current assets
Investasi jangka panjang 566.000.000 2h, 10 566.000.000 Long term investment
Aktiva tetap setelah dikurangi 2i, 11 Fixed assets net of

akumulasi penyusutan accumulated depreciation
Rp 153.098.424.027 dan of Rp 153,098,424,027 and
Rp 124.029.934.337 per Rp 124,029,934,337
31 Desember 2008 dan 2007 223.328.550.332 158.867.432.281 as of 31 December 2008 and 2007
Aktiva lain-lain 12.716.882.619 2j, 12 8.016.580.064 Other assets

Aktiva pajak tangguhan bersih 4.763.610.561 2m, 7d 5.169.405.812 Deferred tax assets - net
Jumlah aktiva tidak lancar 241.375.043.512 172.619.418.157 Total non current assets
Jumlah aktiva 952.742.296.102 833.092.974.381 Total assets
Lihat catatan atas laporan keuangan konsolidasian yang See accompanying notes to consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements, which form an integral part of these
keuangan ini. financial statements.
1
Neraca konsolidasian (lanjutan) Consolidated balance sheets (continued)
Per 31 Desember 2008 dan 2007 As of 31 December 2008 and 2007

2008 Catatan/ 2007
Note
Kewajiban dan ekuitas Liabilities and equity
Kewajiban lancar Current liabilities
Pinjaman jangka pendek 433.269.350.887 13, 33 313.455.962.143 Short term loans
Hutang usaha Trade payables
Pihak ketiga 201.608.418.699 14, 33 206.409.016.254 Third parties
Pihak hubungan istime wa 2.141.192.401 2l, 31 4.372.552.581 Related parties
Hutang lain-lain Other payables
Pihak ketiga 39.303.484.652 15, 33 40.167.443.616 Third parties
Pihak hubungan istimewa 390.217.307 2l, 31 390.293.807 Related parties
Biaya masih harus dibayar 9.687.024.610 16 7.182.064.721 Accrued expenses
Hutang pajak 1.545.575.143 7b 2.007.773.516 Taxes payables
Bagian kewajiban jangka panjang - Long term payables -
yang jatuh tempo dalam waktu current maturity
satu tahun
Pinjaman jangka panjang 12.338.597.265 17 11.006.765.722 Long term loans
Sewa guna usaha 197.719.301 2k, 18 157.257.091 Capital lease
Jumlah kewajiban lancar 700.481.580.265 585.149.129.451 Total current liabilities
Kewajiban tidak lancar Non current liabilites
Pinjaman jangka panjang 121.709.240.045 17 79.447.932.784 Long term loans
Sewa guna usaha 116.317.513 2k, 18 338.614.592 Capital lease
Kewajiban imbalan paska kerja 31.781.130.209 2n, 19 25.237.280.068 Post employment benefit liability
Jumlah kewajiban tidak lancar 153.606.687.767 105.023.827.444 Total non current liabilities
Jumlah kewajiban 854.088.268.032 690.172.956.895 Total liabilities
HAK MINORITAS 411.914.098 20 550.478.352 MINORITY INTERESTS
Ekuitas Equity
Modal saham 21 Capital stock
Nilai nominal Rp 100 per saham Par value of Rp 100 per share
Authorized capital of
Modal dasar Rp 178.176.000.000 Rp 178,176,000,000 in
pada tahun 2008 dan 2007 2008 and 2007
Ditempatkan dan disetor penuh Issued and paid-in
sejumlah 445.440.000 lembar saham consisting of 445,440,000
pada tahun 2008 dan 2007 44.544.000.000 44.544.000.000 shares in 2008 and 2007
Tambahan modal disetor 19.463.678.310 23 19.463.678.310 Additional paid-in capital
Saldo laba Retained earnings
Ditentukan penggunaannya 6.000.000.000 29 5.868.974.320 Appropriated
Belum ditentukan penggunaannya 28.234.435.662 72.492.886.504 Unappropriated
Jumlah ekuitas 98.242.113.972 142.369.539.134 Total equity
Jumlah kewajiban dan ekuitas 952.742.296.102 833.092.974.381 Total liabilities and equity
2
Laporan laba rugi konsolidasian Consolidated statements of income
Untuk tahun yang berakhir pada tanggal-tanggal For the years ended 31 December 2008
31 Desember 2008 dan 2007 and 2007

2008 Catatan/ 2007
Note
Penjualan bersih 1.758.095.115.963 2q, 24 1.623.450.726.248 Net sales
Harga pokok penjualan 1.563.338.897.229 2q, 25 1.450.683.912.873 Cost of goods sold
Laba kotor 194.756.218.734 172.766.813.375 Gross profit
Beban operasi Operating expenses

Beban penjualan 59.333.561.198 2q, 26 49.564.429.764 Selling expenses
Beban umum dan administrasi 76.452.498.050 2q, 27 73.682.519.738 General & administrative expense
Jumlah beban operasi 135.786.059.248 123.246.949.502 Total operating expenses
Laba operasi 58.970.159.486 49.519.863.873 Profit from operations
Pendapatan (beban) lain-lain Other income (expenses)

Pendapatan bunga 267.485.914 167.563.885 Interest income
Laba (rugi) penjualan aktiva tetap 253.746.743 206.514.400 Gain (loss) on sale of fixed assets
Laba (rugi) selisih kurs, bersih (74.492.536.551) (8.722.137.783) Gain (loss) of foreign
exchange, net
Keuntungan penjualan saham Gain on sales of shares of
anak perusahaan - 1c, 28 14.110.055.836 a Subsidiary
Biaya bunga (31.989.023.753) (26.102.177.874) Interest expenses
Lain-lain, bersih 5.998.948.319 377.947.624 Others, net
Pendapatan (beban) lain-lain, Other income (expenses),
bersih (99.961.379.328) (19.962.233.912) net
Laba (rugi) sebelum pajak Profit (loss) before
penghasilan (40.991.219.842) 29.557.629.961 income tax
Penghasilan (beban) pajak : Tax income (expense) :
Pajak kini - 2m, 7c (5.910.214.000) Current tax
Pajak tangguhan (405.795.251) 2m, 7d 1.069.621.677 Deferred tax
Jumlah beban pajak penghasilan (405.795.251) (4.840.592.323) Total income tax expense
Laba (rugi) bersih sebelum hak Net income (loss) before minority
minoritas (41.397.015.093) 24.717.037.638 interest
Hak minoritas 138.564.251 (79.383.881) Minority interest
Laba (rugi) bersih (41.258.450.842) 24.637.653.757 Net profit (loss)
Laba (rugi) bersih per saham (93) 2o 55 Net earning (loss) per share
3
Laporan perubahan ekuitas konsolidasian Consolidated statements of changes in equity

Tambahan Saldo laba/
modal Retained earnings
disetor/ Ditentukan Belum ditentukan
Catatan/ Modal saham/ Additional Penggunaannya/ Penggunaannya/ Jumlah ekuitas/
Note Capital stock paid -in capital appropriated unappropriated Total equity
Saldo per 1 Januari 2007/

Balance as of 1 January 2007 44.544.000.000 19.463.678.310 5.868.974.320 48.300.672.747118.177.325.377
Pembayaran dividen 2006 / 22

Dividend payment 2006 - - - (445.440.000) (445.440.000)
Laba bersih tahun berjalan

1 Januari 2007 -31 Desember 2007/
Net profit for the year 1 January 2007
-31 December 2007 - - - 24.637.653.757 24.637.653.757
Saldo per 31 Desember 2007/

Balance as of 31 December 2007 44.544.000.000 19.463.678.310 5.868.974.320 72.492.886.504142.369.539.134
Cadangan umum/General reserves 29 - - 3.000.000.000 (3.000.000.000) -
Pelunasan saldo laba ditentukan

penggunaannya/Retained earnings
appropriated has been paid 29 - (2.868.974.320) - (2.868.974.320)
Laba (rugi) bersih tahun berjalan

1 Januari 2008 -31 Desember 2008/
Net profit (loss) for the year 1 January 2008
-31 December 2008 - - - (41.258.450.842)(41.258.450.842)
Saldo per 31 Desember 2008/

Balance as of 31 December 2008 44.544.000.000 19.463.678.310 6.000.000.000 28.234.435.662 98.242.113.972
4
Laporan arus kas konsolidasian Consolidated statements of cash flows

2008 Catatan/ 2007
Note
Cash flows from operating
Arus kas dari aktivitas operasi : activities :
Penerimaan kas dari pelanggan 1.731.140.973.651 2d,2e,4,5 1.606.319.189.322 Cash receipt from customers
2f,6,
Pembayaran kas kepada pemasok (1.397.279.699.316) 9,14,15,16 (1.455.648.993.723) Cash payment to suppliers
Pembayaran kas kepada karyawan (244.016.539.436) 2l (109.724.026.224) Cash payment to employees
Pembayaran beban usaha (106.263.339.456) 2n,27,28 (104.150.142.228) Payments for operating expenses
Pembayaran pajak (15.325.239.509) 7a,7b (5.794.068.796) Payment for tax
Pembayaran bunga (31.715.275.588) (25.934.613.989) Interest paid
Penerimaan (pembayaran)
kas lainnya 5.992.686.062 377.947.620 Other cash received (paid)
Kas bersih yang dipergunakan Net cash provided used in
untuk aktivitas operasi (57.466.433.592) (94.554.708.018) operating activities
Cash flows from investing
Arus kas dari aktivitas investasi : activities :
Pembelian aktiva tetap (95.265.363.598) 2i, 11 (55.996.368.580) Purchase of fixed assets
Perolehan dari penjualan saham Proceed from sales of share
anak perusahaan - 2.641.000 of a subsidiary
Proceed (cost) from sales of
Hasil (biaya) penjualan aktiva tetap 253.746.743 2i, 11 206.514.400 fixed assets
Kas bersih yang dipergunakan Net cash provided used in

untuk aktivitas investasi (95.011.616.855) (55.787.213.180) investing activities
Cash flows from financing
Arus kas dari aktivitas pendana an : activities :
Penambahan (pengurangan) pinjaman Increase (decrease) in loans
jangka pendek 168.485.441.821 13 110.665.405.150 short term
jangka panjang 68.128.301.797 2k,17,18 78.844.616.608 long term
Pembayaran dividen kas - 22 (445.440.000) Cash dividend payment
Penambahan (pengurangan) Increase (decrease) in
wesel bayar - 20 (18.191.631.948) notes payable
Kas bersih yang diperoleh dari Net cash provided from
aktivitas pendanaan 236.613.743.618 170.872.949.810 financing activities
Kenaikan (penurunan) kas dan Increase (decrease) in cash and
setara kas 84.135.693.171 20.531.028.612 cash equivalents
Effect of foreign exchange
Pengaruh perubahan kurs (100.251.145.754) 2.135.809.862 rate changes
Saldo awal kas dan Beginning balance of cash and
Saldo akhir kas dan Ending balance of cash and
5
Catatan atas laporan keuangan konsolidasian Notes to consolidated financial statements
(lanjutan) (continued)

1. Umum 1. General
1. Umum (lanjutan) 1. General (continued)
a. Pendirian a. Establishment
PT PAN BROTHERS Tbk. ("Perusahaan") PT PAN BROTHERS Tbk (the Company) based
didirikan berdasarkan akta notaris Misahardi on notarial deed of Misahardi Wilamarta SH,
Wilamarta,SH., Jakarta No. 96 tanggal Jakarta No. 96 dated 21 August 1980 then
21 Agustus 1980 kemudian diubah dengan akta amended with notarial deed No. 58 dated 16
notaris No. 58 tanggal 16 Oktober 1980. Akta October 1980. Its articles of association were
pendirian tersebut telah disahkan oleh Menteri approved by the Minister of Justice by his decree
Kehakiman Republik Indonesia dalam surat dated 30 October 1980, No. YA/5/500/II and was
keputusan tanggal 30 Oktober 1980, published in the State Gazette of the Republic of
No.YA/5/500/II serta diumumkan dalam Indonesia No. 59. The Company’s articles of
Lembaran Berita Negara Republik Indonesia No. association have been amended for several times
59. Anggaran Dasar Perusahaan telah mengalami and the latest amendment was prepared by Dina
beberapa kali perubahan yang terakhir Chozie,SH, as substitute notary of Fathiah Helmi,
berdasarkan notaris Dina Chozie, SH. sebagai SH, under the deed No. 13 dated 19 August 2005
pengganti dari notaris Fathiah Helmi, SH., dengan about changes in the Company’s article 4 section
akta No. 13 tanggal 19 Agustus 2005 mengenai 2 of the Company’s articles of association. The
perubahan pasal 4 ayat 2 tentang Anggaran Dasar most recently amendment of the Company’s
Perusahaan. Akta ini telah mendapat pengesahan articles of incorporation has been approved by
Keputusan Menteri Kehakiman Republik the Minister of Justice under his decree No. C-
Indonesia No. C-30044HT.01.04.TH.2005 30044HT.01.04.TH.2005 dated 1 November 2005
tanggal 1 November 2005 dari Departemen from Department of Laws and Human Rights of
Hukum dan Hak Asasi Manusia RI dan telah the Republic of Indonesia and was published in
diumumkan dalam Berita Negara RI No. 83, TBN the State Gazette of the Republic of Indonesia
No.11139 tanggal 17 Oktober 2006. No. 83 Addition No. 11139 dated 17 October
2006.
Perusahaan dan pabrik berlokasi di Jl. Siliwangi The Company and its factory are located in Jl.
No. 178 Alam Jaya, Jatiuwung Tangerang dan Siliwangi No. 178 Alam Jaya, Jatiuwung,
mempunyai cabang di Jl. HOS Cokroaminoto Tangerang and have branches at Jl. HOS
No. 28, Pucang Sawit, Jebres, Jl. Ir. H Juanda Cokroaminoto No. 28, Pucang Sawit, Jebres, Jl.
No. 270, Jebres, Surakarta dan Jl. Raya Solo Ir. H Juanda No. 270, Jebres, Surakarta and Jl.
Sragen KM 6-10, Karang Anyar, Jawa Tengah Raya Solo-Sragen KM 6-10, Karang Anyar,
Central Java.
Sesuai dengan pasal 3 Anggaran Dasar Based on the Company’s articles of association in
Perusahaan, ruang lingkup kegiatan Perusahaan article 3, the scope of the Company’s activity is
meliputi perindustrian, perdagangan hasil usaha industry, trading its products, importing
industri tersebut, mengimpor alat-alat, equipment, transportation and representative or
pengangkutan dan perwakilan atau keagenan, agency, management service and rental office
jasa pengelolaan dan penyewaan gedung building, recreation business and bounded zone.
perkantoran, taman hiburan atau rekreasi dan The Company is engaged in the garment industry.
kawasan berikat. Perusahaan berusaha di industri The Company had employees for the years ended
garmen. Jumlah karyawan Perusahaan untuk 31 December 2008 and 2007 with total average of
tahun yang berakhir 31 Desember 2008 dan 11,108 and 11,819 respectively.
2007 rata-rata 11.108 dan 11.819 karyawan.
Sesuai dengan akta notaris Fathiah Helmi, SH Based on notarial deed of Fathiah Helmi, SH
No. 72 tanggal 20 Juni 2008, susunan pengurus No. 72 dated 20 June 2008, the composition of
Perusahaan pada tanggal 31 Desember 2008 dan board of commisioners and directors as of 31
2007 adalah sebagai berikut : December 2008 and 2007 is as follows :
6
b. Susunan pengurus b. Board of commissioners and directors

Dewan komisaris 2008 2007 Board of Commisioners
Komisaris Utama Tn/Mr. Bambang Setijo Tn/Mr. Bambang Setijo President Commissioner
Wakil Komisaris Utama Tn/Mr. Budhi Moeljono Tn/Mr. Budhi Moeljono Vice President Commissioner
Komisaris Tn/Mr. Budhi Hartono Tn/Mr. Budhi Hartono Commissioners
Tn/Mr. Tio Liong Khoeng Tn/Mr. Tio Liong Khoeng
Tn/Mr. Hartono Setyo Tn/Mr. Hartono Setyo
Tn/Mr. Budhi Santoso Tn/Mr. Budhi Santoso
Komisaris Independen Tn/Mr. Hananta Budianto Tn/Mr. Hananta Budianto Independent Commissioners
Tn/Mr. Prasasto Sudyatmiko Tn/Mr. Prasasto Sudyatmiko
Tn/Mr. Djoko Susanto Tn/Mr. Djoko Susanto
Direksi Board of Directors

Direktur Utama Tn/Mr. Lee Wan Ju Tn/Mr. Lee Wan Ju President Director
Wakil Direktur Utama Tn/Mr. Ludijanto Setijo Tn/Mr. Ludijanto Setijo Vice President Director
Direktur Ny/Mrs. Anne Patricia Sutanto Ny/Mrs. Anne Patricia Sutanto Directors
Tn/Mr. Kuo Yu Hsiang (Harry Kuo) Tn/Mr. Kuo Yu Hsiang (Harry Kuo)
- Tn/Mr. Fung Kin Yuen
Ny/Mrs. Lucia Sitiabudi Hendraka Ny/Mrs. Lucia Sitiabudi Hendraka
Ny/Mrs. Fitri Ratnasari Hartono Ny/Mrs. Fitri Ratnasari Hartono
Komite Audit Audit Committee

Ketua Tn/Mr. Hananta Budianto Tn/Mr. Hananta Budianto Chairman
Anggota Tn/Mr. Sutjipto Budiman Tn/Mr. Sutjipto Budiman Members
Tn/Mr. Bunardy Limanto Tn/Mr. Wawat Sutanto
Jumlah kompensasi yang diterima oleh Dewan The total amounts of compensation received by the
Komisaris dan Dewan Direksi Perusahaan, untuk tahun Boards of Commissioners and Directors of the
yang berakhir 31 Desember 2008 dan 2007 masing- Company for the years ended 31 December 2008
masing sebesar Rp 6.099.496.400 dan and 2007 amounting to Rp 6,099,496,400 and
Rp 6.467.339.809 . Rp 6,467,339,809, respectively.
c. Anak perusahaan c. Consolidated subsidiary

Perusahaan memiliki saham anak perusahaan, The Company has direct ownership interest in the
sebagai berikut : following subsidiary :
Persentase Tahun
kepemilikan/ operasi
Percentage of komersil/
ownership Start of Jumlah aktiva/Total assets
Anakperusahaan/ Domisili/ Jenis usaha/ tahun/year commercial 31 Desember /31 December
Subsidiary Domicile Nature of business 2008 2007 operations 2008 2007
PT Pancaprima Tangerang, Industri garmen/ 99,56% 99,00% 1988 612.763.922.232 542.379.348.816

Ekabrothers Garment
Industry
7
1. Umum (lanjutan) 1.
1. General
General(continued)
(continued)
c. Anak perusahaan (lanjutan) c. Consolidated subsidiary (continued)
Pemegang saham Perusahaan melalui Rapat The Company’s shareholders, in an

Umum Pemegang Saham Luar Biasa tanggal extraordinary shareholders general meeting on
23 April 2007 menyetujui penjualan seluruh 23 April 2007, approved the sale of 71,07%
saham kepemilikannya sebesar 71,07% pada ownership interests at PT Pancabrothers
PT Pancabrothers Swakarsa kepada Swakarsa to PT Trisetijo Manunggal Utama and
PT Trisetijo Manunggal Utama dan PT Budhi PT Budhi Bersaudara Sejati. The agreed sale
Bersaudara Sejati. Harga penjualan yang price was Rp 2,641,000/ Rp 1 per share. The
disepakati adalah sebesar Rp 2.641.000/ Rp 1 aforementioned sale of shares transaction was
per lembar saham. Transaksi penjualan saham notarized under deed No 23 dated 23 April 2007
tersebut telah diaktakan oleh notaris Fathiah by notary Fathiah Helmi. Accordingly as of
Helmi No. 23 tanggal 23 April 2007. Dengan 30 June 2007, the assets and liabilities of
demikian per 30 Juni 2007, aktiva dan PT Pancabrothers Swakarsa were excluded from
kewajiban PT Pancabrothers Swakarsa the Company’s consolidated financial
dikeluarkan dari laporan konsolidasian statements.
Perusahaan.
d. Penawaran umum saham Perusahaan d. Public offering of the Company’s shares
Sesuai dengan surat Ketua Bapepam No. S1- Based on the letter from the Chairman of Capital
121/SHM/MK/10/1990 tanggal 16 Agustus Market Supervisory Board (BAPEPAM) No. S1-
1990 mengenai Pemberitahuan Efektifnya 121/SHM/MK/10/1990 dated 16 August 1990
Pernyataan Pendaftaran, Perusahaan telah regarding notice of effectivity of registration, the
melakukan penawaran umum kepada Company has offered its shares to public through
masyarakat melalui pasar modal. Sejak tanggal the capital market. Since 23 March 1992 the
23 Maret 1992 Perusahaan telah mencatatkan Company has listed its issued and paid-up
seluruh saham Perusahaan yang telah capital shares in the Jakarta Stock Exchange and
ditempatkan dan disetor penuh di Bursa Efek Surabaya Stock Exchange. Based on notarial
Jakarta dan Bursa Efek Surabaya. Berdasarkan deed No. 54 of Fathiah Helmi, SH., dated
akta notaris Fathiah Helmi, SH. No. 54 tanggal 20 September 2002, the Company performed
20 September 2002 Perusahaan melakukan stock split, therefore the shares par value have
pemecahan saham (stock split) sehingga nilai been changed from Rp 500 to Rp 100 per share,
nominal saham berubah dari Rp 500 menjadi so the issued and paid–up capital become
Rp 100 per saham sehingga modal yang 384,000,000 shares with nominal value
ditempatkan dan disetor penuh menjadi amounted to Rp 38,400,000,000. The stock split
384.000.000 lembar saham dengan jumlah was valid effectively since 15 January 2003.
nominal Rp 38.400.000.000. Pemecahan
saham tersebut berlaku efektif sejak 15 Januari
2003.
8
d. Penawaran umum saham perusahaan d. Public offering of company’s shares

Berdasarkan akta notaris Dina Chozie, SH Based on notarial deed of Dina Chozie, SH.,(the
(pengganti dari Fathiah Helmi, SH) No. 13 substitute notary of Fathiah Helmi,SH) No. 13
tanggal 19 Agustus 2005 Perusahaan mendapat dated 19 August 2005, the Company got
persetujuan Rapat Umum Pemegang Saham approval from Extraordinary Shareholder’s
Luar Biasa tanggal 30 Juni 2005 mengenai General Meeting dated 30 June 2005 for Right
Penawaran Umum Terbatas I, untuk Issue/Limited Offering 1, to publish 61,440,000
menawarkan 61.440.000 lembar saham biasa shares of common stock with nominal value of
atas nama dengan nominal Rp 100 setiap saham Rp 100 per share and offered at a price of
dan ditawarkan dengan harga Rp 365. PUT I ini Rp 365. This Right Issue 1 has been completed,
telah dilaksanakan dan seluruh saham baru telah all new stocks have been recorded in Jakarta
dicatatkan di Bursa Efek Jakarta dan Bursa Efek Stock Exchange and Surabaya Stock Exchange
Surabaya sejak tanggal 22 Juli 2005. since 22 July 2005.
Dana hasil Penawaran Umum Terbatas I setelah The fund raised from Right Issue 1 net of
dikurangi biaya-biaya yang berhubungan dengan expenses related to Right Issue 1, has been used
Penawaran Umum Terbatas I, telah digunakan to take over 99% shares in PT Pancaprima
untuk mengambil alih 99% saham pada Ekabrothers, which transaction was performed
PT Pancaprima Ekabrothers yang transaksinya on 27 July 2005 by PT Pancaprima Ekabrothers
dilakukan pada tanggal 27 Juli 2005 kepada shareholders, which are PT Trisetijo Manunggal
pemegang saham PT Pancaprima Ekabrothers, Utama and PT Budhi Bersaudara Sejati.
yaitu PT Trisetijo Manunggal Utama dan
PT Budhi Bersaudara Sejati.
Sesuai dengan akta Notaris Fathiah Helmi SH, Based on notarial deed of Fathiah Helmi SH, No.
No. 26 tanggal 13 Desember 2007 dan telah 26 dated 13 December 2007 and has been
mendapat persetujuan dari Menteri Kehakiman approved by the Minister of Justice and Human
dan Hak Asasi Manusia Republik Indonesia Rights of the Republic of Indonesia under his
No. AHU-05145.AH.01.02.TH.2008 tanggal decree No. AHU-05145.AH.01.02.TH.2008 dated
31 Januari 2008, Perusahaan meningkatkan 31 January 2008, the Company increased its
kepemilikan modalnya di PT Pancaprima capital ownership at PT Pancaprima
Ekabrothers (Anak perusahaan) dari 99% Ekabrothers (Subsidiary) from 99% to 99,56% or
menjadi 99,56% atau Rp 22.327.500.000 Rp 22,327,500,000 to Rp 50,505,000,000.
menjadi Rp 50.505.000.000.
2. Kebijakan akuntansi 2. Summary of significant accounting policies
a. Penyajian laporan keuangan konsolidasian a. Consolidated financial statement presentation
Laporan keuangan konsolidasian disusun dengan The consolidated financial statements have been
menggunakan prinsip dan praktek akuntansi prepared using accounting principles and
yang berlaku umum di Indonesia, yaitu Standar reporting practices generally accepted in
Akuntansi Keuangan dan Peraturan Badan Indonesia which is Financial Accounting
Pengawas Pasar Modal dan Lembaga Keuangan Standards and regulation of the Capital Market
(BAPEPAM-LK). Supervisory Agency and Financial Institution
(BAPEPAM-LK).
Laporan keuangan konsolidasian tersebut The consolidated financial statements are
disusun berdasarkan nilai historis, kecuali prepared on the historical cost basis, except for
beberapa akun tertentu disusun berdasarkan certain accounts which are measured on the
pengukuran lain sebagaimana diuraikan dalam basis described in the related accounting
kebijakan akuntansi masing-masing akun policies.
tersebut.
9
1.
2. Umum (lanjutan)
Kebijakan akuntansi (lanjutan) 1.
2. General
Summary(continued)
of significant accounting policies
(continued)
a. Penyajian laporan keuangan konsolidasian a. Consolidated financial statement presentation
Laporan arus kas konsolidasian disusun dengan The consolidated statements of cash flows are
menggunakan metode langsung dengan prepared using the direct method which
mengelompokkan arus kas dalam aktivitas classifies cash flows into operating, investing
operasi investasi dan pendanaan. and financing activities.
Mata uang pelaporan yang digunakan untuk The reporting currency used in the preparation
penyusunan laporan keuangan konsolidasian of the consolidated financial statements is the
adalah mata uang Rupiah (Rp). Indonesian Rupiah (Rp).
b. Prinsip konsolidasian b. Principles of consolidation

Laporan keuangan konsolidasian meliputi The consolidated financial statements include the
laporan keuangan Perusahaan dan anak financial statements of the Company and its
perusahaan dengan pemilikan langsung lebih d ari subsidiary wherein the Company has direct
50%. Saldo dan transaksi termasuk ownership interest of more than 50%.
keuntungan/kerugian yang belum direalisasi atas Intercompany balances and transactions
transaksi antar perusahaan dieliminasi untuk including unrealized gains or losses on
mencerminkan posisi keuangan dan hasil usaha intercompany transactions are eliminated to
Perusahaan dan anak perusahaan sebagai satu reflect the financial position and the results of
kesatuan usaha. operations of the Company and its subsidiary as
one business entity.
Hak minoritas atas laba/rugi bersih dan ekuitas Minority interest in net income/loss and equity of
anak perusahaan dinyatakan sebesar proporsi the subsidiary is stated on a proportional basis of
pemegang saham minoritas atas laba/rugi bersih the minority shareholders on net income/loss and
dan ekuitas anak perusahaan tersebut. equity of the subsidiary.
c. Transaksi dan penjabaran laporan c. Foreign currency transactions and translation

keuangan dalam mata uang asing
Pembukuan Perusahaan, diselenggarakan dalam The books of accounts of the Company, are
mata uang Rupiah. Transaksi-transaksi selama maintained in Indonesian Rupiah. Transactions
tahun berjalan dalam mata uang asing dicatat during the year involving foreign currencies are
dengan kurs yang berlaku pada saat terjadinya recorded at the rates of exchange prevailing at
transaksi. Pada tanggal neraca, aktiva dan the time the transactions are made. At balance
kewajiban moneter dalam mata uang asing sheet date, monetary assets and liabilities
disesuaikan untuk mencerminkan kurs yang denominated in foreign currencies are adjusted
berlaku pada tanggal tersebut. Keuntungan atau to reflect the rates of exchanges prevailing at
kerugian kurs yang timbul dikreditkan atau that date. The resulting gains or losses are
dibebankan dalam laporan laba rugi tahun yang credited or charged to current operations.
bersangkutan.
10

2. Kebijakan akuntansi(lanjutan) 2. Summary of significant accounting policies
(continued)
c. Transaksi dan penjabaran laporan c. Foreign currency transactions and translation

keuangan dalam mata uang asing (lanjutan) (continued)
18-03-2009 31-12-2008 31-12-2007

1 HKD 1.545 1.413 1.208 HKD 1
1 SGD 7.833 7.607 6.502 SGD 1
1 JPY 121 12.123 83 JPY 1
1 NTD 347 337 290 NTD 1
1 GBP 16.830 15.802 18.804 GBP 1
1 EUR 15.606 15.432 13.760 EUR 1
1 USD 11.979 10.950 9.419 USD 1
1 THB 335 315 279 THB 1
d. Kas dan setara kas d. Cash and cash equivalents

Kas dan setara kas terdiri dari kas, bank dan Cash and cash equivalents consist of cash on
semua investasi yang jatuh tempo dalam waktu hand and in banks and all unrestricted
tiga bulan atau kurang dari tanggal investments with maturities of three months or
penempatannya dan yang tidak dijaminkan serta less from the date of placement.
tidak dibatasi penggunaannya.
e. Piutang usaha e. Trade receivables
Piutang usaha disajikan dalam jumlah neto. Trade receivables are stated in net amount.
Penyisihan piutang ragu-ragu dibentuk Allowance for doubtful accounts is provided
berdasarkan hasil penelaahan atas keadaan based on a review of the collectibility of the
piutang masing-masing pelanggan pada akhir individual receivable accounts at the end of the
tahun. year.
f. Persediaan f. Inventories
Persediaan dinyatakan berdasarkan biaya Inventories are stated at cost or net realizable
perolehan atau nilai realisasi bersih, mana yang value, whichever is lower. Cost is determined
lebih rendah. Biaya perolehan ditentukan dengan using the First In First Out (FIFO) method for
metode Masuk Pertama Keluar Pertama (FIFO) raw material, finished goods and work in
untuk bahan baku, barang jadi dan barang dalam process, and spare parts are valued at
proses, dan suku cadang dinilai berdasarkan acquisition cost on an average basis.
harga perolehan dengan menggunakan metode
rata-rata.
Persediaan barang jadi merupakan persediaan Inventories of finished goods represent the
yang sudah dibungkus sampai gudang barang packed inventories in the warehouse of finished
jadi di kawasan berikat Tangerang dan siap goods at Tangerang bonded area and ready to
untuk diekspor sedangkan persediaan yang be exported, meanwhile unpacked inventories
belum dibungkus dan belum sampai di gudang which have not yet arrived in the warehouse of
barang jadi di kawasan berikat Tangerang masih finished goods at Tangerang bonded area, is
diakui sebagai persediaan barang dalam proses. recognized as inventories of goods in process.
Penyisihan persediaan usang ditentukan Allowance of obsolete inventories are

berdasarkan hasil penelaahan terhadap keadaan determined based on review result of the
persediaan pada akhir periode. condition of inventories at the end of the period
11
PT Pan B rothers Tbk dan Anak Perusahaan PT Pan Brothers Tbk and its Subsidiary

(continued)
g. Biaya dibayar dimuka g. Prepaid expenses
Biaya dibayar dimuka diamortisasi selama Prepaid expenses are amortized over their
manfaat masing-masing biaya dengan beneficial periods using the straight-line method.
menggunakan metode garis lurus.
h. Investasi h. Investment
Investasi dalam bentuk penyertaan saham pada Investment in shares of stock in other companies
perusahaan lain dengan persentase kepemilikan: with percentage of ownership :
a. Kurang dari 20% dicatat sebesar nilai terendah a. Less than 20% are stated at the lower of cost
antara harga perolehan dan nilai wajar yang or net realizable value.
dapat direalisasikan.
b. Paling sedikit 20% tetapi tidak melebihi 50% b. At least 20% but not exceeding 50% is
dicatat dengan menggunakan metode ekuitas. accounted for using the equity method.
c. Lebih dari 50% dikonsolidasikan c. More than 50% are consolidated
i. Aktiva tetap - pemilikan langsung i. Fixed assets – direct acquisition
Perusahaan memilih model biaya dalam The Company has chosen cost model in
kebijakan akuntansi aktiva tetap dimana aktiva accounting policy of fixed assets which are
tetap dicatat berdasarkan biaya perolehan setelah stated at cost less accumulated depreciation. The
dikurangi akumulasi penyusutan, dan disusutkan depreciation is computed using the straight line
dengan menggunakan metode garis lurus dengan method, based on estimated useful life of the
masa manfaat masing-masing jenis aktiva assets as follows :
sebagai berikut :
Masa manfaat/
Useful life
Gedung/building 25 tahun/years
Prasarana/Infrastructure 5-10 tahun/years
Instalasi listrik, air dan gas /Electricity, gas and water instalation 10 tahun/years
Mesin/ Machinery 5-10 tahun/years
Peralatan dan Perlengkapan pabrik/ Factory equipment and supplies 5-10 tahun/years
Kendaraan/Vehicles 5 tahun/years
Inventaris/Peralatan kantor/kantin/Furniture/Office equipment
Canteen equipment 5 tahun/years
Beban pemeliharaan dan perbaikan dibebankan Repairs and maintenance expenses are recorded
pada laporan laba rugi pada saat terjadinya. in the statement of income as incurred.
Pengeluaran yang memperpanjang masa manfaat Expenditures which extend the useful life of the
atau memberi manfaat ekonomis di masa yang assets or result in increasing future economic
akan datang dalam bentuk peningkatan benefits such as increase in capacity
kapasitas, mutu produksi atau peningkatan improvement, the quality of output or standard of
standar kinerja dikapitalisasi. performance are capitalized.
12

(continued)
i. Aktiva tetap - pemilikan langsung (lanjutan) i. Fixed assets – direct acquisition (continued)
Aktiva tetap yang sudah tidak digunakan lagi When fixed assets are retired or otherwise disposed
atau yang dijual dikeluarkan dari kelompok of, their carrying value and the related accumulated
aktiva tetap berikut akumulasi penyusutannya. depreciation are removed from the accounts. Any
Keuntungan atau kerugian dari penjualan aktiva resulting gain or loss is reflected in the current
tetap tersebut dibukukan dalam laporan laba rugi operations.
pada tahun yang bersangkutan.
Apabila manfaat ekonomi suatu aktiva tetap When the carrying amount of an asset exceeds its
tidak lagi sebesar jumlah tercatatnya, maka estimated recoverable amount, the asset is written
aktiva tersebut harus dinyatakan sebesar jumlah down to its estimated recoverable amount, which is
yang sepadan dengan nilai manfaat ekonomi determined as the higher price of net selling price or
yang tersisa. Penurunan nilai kegunaan aktiva value in use. The decrease of the usage value of
tetap tersebut dilaporkan sebagai kerugian tahun fixed asset is reported as current year loss.
berjalan.
Aktiva dalam penyelesaian dinyatakan sebesar Construction in progress is stated at cost. The
biaya perolehan. Akumulasi biaya perolehan accumulated costs of construction in progress are
aktiva dalam penyelesaian akan dipindahkan ke transferred to the respective fixed asset when
masing-masing aktiva tetap bila telah selesai dan completed and the asset is ready for use.
siap untuk digunakan.
j. Beban tangguhan j. Deferred charges

Biaya-biaya yang terjadi sehubungan dengan Expenditures related to legal processing of
pengurusan hak legal atas tanah ditangguhkan landrights are deferred and amortized using the
dan diamortisasi selama masa manfaat 30 tahun straight-line method over 30 years benefited.
dengan menggunakan metode garis lurus.
k. Sewa guna usaha k. Leases

Transaksi sewa guna usaha dikelompokkan Lease transactions are classified as capital lease
sebagai capital lease apabila memenuhi kriteria when the following criteria are met :
sebagai berikut :
1. Penyewa guna usaha memiliki hak opsi untuk 1. The lessee has the option to purchase the
membeli aktiva yang disewa guna usaha pada leased asset at the end of the lease term at a
akhir masa sewa guna usaha dengan harga price mutually agreed upon at the inception
yang telah disetujui bersama pada saat of the lease agreement.
dimulainya perjanjian sewa guna usaha.
2. Seluruh pembayaran berkala yang dilakukan 2. All periodic lease payments made by the
oleh penyewa guna usaha ditambah dengan lessee plus residual value shall represent a
nilai sisa dapat menutup pengembalian biaya return of the cost of leased assets and interest
perolehan barang modal yang disewa guna thereon as the profit of the lessor.
usaha beserta bunganya sebagai keuntungan
perusahaan sewa guna usaha.
13

(continued)
k. Sewa guna usaha (lanjutan) k. Leases (continued)
3. Masa sewa guna usaha minimum dua tahun. 3. Minimum lease period is 2 (two) years.
Transaksi sewa guna usaha yang tidak Lease transactions that do not meet the above
memenuhi kriteria tersebut di atas criteria are recorded as operating leases.
dikelompokkan sebagai transaksi sewa menyewa
biasa (operating lease).
Aktiva dan kewajiban sewa guna usaha dicatat Leased assets and liabilities under the capital
sebesar nilai tunai dari seluruh pembayaran sewa lease method are recorded at the present value
guna usaha ditambah nilai sisa (harga opsi). of the total installments plus residual value
Aktiva sewa guna usaha disusutkan dengan (option price). Leased assets are depreciated
metode dan berdasarkan taksiran masa manfaat using the same method and estimated useful lives
ekonomis yang sama dengan aktiva tetap – used for directly acquired assets (see accounting
pemilikan langsung (lihat kebijakan akuntansi policy for fixed assets – direct acquisitions).
mengenai aktiva tetap – pemilikan langsung).
l. Transaksi hubungan istimewa l. Related parties transactions
Pihak-pihak yang mempunyai hubungan Related parties are :

istimewa adalah :
1. Companies that directly, or indirectly
1. Perusahaan baik langsung maupun melalui
through one or more intermediaries, control,
satu atau lebih perantara, mengendalikan,
or are controlled by, or are under common
atau dikendalikan oleh, atau berada di bawah
control with, the Company (including holding
pengendalian bersama, dengan perusahaan
companies, subsidiary and fellow
(termasuk holding companies, subsidiary dan
subsidiary):
fellow subsidiary):
2. Perusahaan asosiasi: 2. Associated companies:
3. Perorangan yang memiliki, baik secara 3. Individuals owning, directly or indirectly, an
langsung maupun tidak langsung, suatu interest in the voting power of the Company
kepentingan hak suara di Perusahaan yang that gives them significant influence over the
berpengaruh secara signifikan, dan anggota Company, and close members of the family of
keluarga dekat dari perorangan tersebut (yang any such individuals (close members of the
dimaksudkan dengan anggota keluarga dekat family are those who can influence or can be
adalah mereka yang dapat diharapkan influenced by such individuals in their
mempengaruhi atau dipengaruhi perorangan transactions with the Company):
tersebut dalam transaksinya dengan
perusahaan):
4. Karyawan kunci, yaitu orang-orang yang 4. Key management personnel who have
mempunyai wewenang dan tanggung jawab authority and responsibility for planning,
untuk merencanakan, memimpin dan directing and controlling the Company
mengendalikan kegiatan Perusahaan, yang activities, including commissioners, directors
meliputi anggota dewan komisaris, direksi and managers of the Company and close
dan manajer dari Perusahaan serta anggota members of their families: and
keluarga dekat orang-orang tersebut: dan
14

(continued)
l. Transaksi hubungan istimewa (lanjutan) l. Related parties transactions (continued)
5. Perusahaan di mana suatu kepentingan 5. Companies in which a substantial interest in

substansial dalam hak suara dimiliki baik the voting power is owned, directly or
secara langsung maupun tidak langsung oleh indirectly, by any person described in (3) or
setiap orang yang diuraikan dalam butir (3) (4) or over which such a person is able to
atau (4), atau setiap orang tersebut exercise significant influence. This includes
mempunyai pengaruh signifikan atas companies owned by commissioners,
perusahaan tersebut. Ini mencakup directors or major stockholders of the
perusahaan-perusahaan yang dimiliki anggota Company and companies which have a
dewan komisaris, direksi atau pemegang common key member of management as the
saham utama dari Perusahaan dan Company.
peru sahaan-perusahaan yang mempunyai
anggota manajemen kunci yang sama dengan
Perusahaan.
Semua transaksi dengan pihak-pihak yang All transactions with related parties, whether or
mempunyai hubungan istimewa, baik yang not made at similar terms and conditions as
dilakukan dengan atau tidak dengan tingkat those done with third parties, are disclosed in the
bunga atau harga, persyaratan dan kondisi yang financial statements.
sama sebagaimana dilakukan dengan pihak
ketiga, diungkapkan dalam laporan keuangan.
m. Pajak penghasilan m. Income tax
Berdasarkan PSAK No. 46 beban pajak kini Under PSAK No. 46 current tax expense is
ditentukan berdasarkan laba kena pajak dalam determined based on the taxable income for the
periode yang bersangkutan yang dihitung year computed using prevailing tax rates.
berdasarkan tarif pajak yang berlaku.
Aktiva dan kewajiban pajak tangguhan diakui Deferred tax assets and liabilities are
atas konsekuensi pajak periode mendatang yang recognized for the future tax consequences
timbul dari perbedaan antara jumlah tercatat attributable to differences between the financial
aktiva dan kewajiban menurut laporan keuangan statement carrying amounts of existing assets
dengan dasar pengenaan pajak aktiva dan and liabilities and their respective tax bases.
kewajiban. Kewajiban pajak tangguhan diakui Deferred tax liabilities are recognized for all
untuk semua perbedaan temporer kena pajak dan taxable temporary differences and deferred tax
aktiva pajak tangguhan diakui untuk perbedaan assets are recognized for deductible temporary
temporer yang boleh dikurangkan, sepanjang differences to the extent that it is probable that
besar kemungkinan dapat dimanfaatkan untuk taxable income will be available in future
mengurangi laba kena pajak pada masa datang. periods against which the deductible temporary
differences can be utilized.
15

(continued)
m. Pajak penghasilan (lanjutan) m. Income tax (continued)
Pajak tangguhan diukur dengan menggunakan Deferred tax is calculated at the tax rates that
tarif pajak yang berlaku atau secara substansial have been enacted or substantively enacted by
telah berlaku pada tanggal neraca. Perubahan the balance sheet date. Changes in the carrying
nilai tercatat aktiva dan kewajiban pajak amount of deferred tax assets and liabilities due
tangguhan yang dis ebabkan oleh perubahan tarif to a change in tax rates is charged to current
pajak dibebankan pada tahun berjalan, kecuali year operations, except to the extent that it
untuk transaksi-transaksi yang sebelumnya telah relates to items previously charged or credited to
langsung dibebankan atau dikreditkan ke equity.
ekuitas.
Aktiva dan kewajiban pajak tangguhan disajikan Deferred tax assets and liabilities are offset in
di neraca atas dasar kompensasi sesuai dengan the balance sheet in the same manner the current
penyajian aktiva dan kewajiban pajak kini, tax assets and liabilities are presented, except if
kecuali aktiva dan kewajiban pajak tangguhan these are for different legal entities.
untuk entitas yang berbeda.
n. Imbalan paska kerja n. Estimated liability for post-employment
benefit
Perusahaan memberikan imbalan paska kerja The Company provides post employment defined
imbalan pasti untuk karyawannya sesuai dengan benefit to its employees in accordance with
Kesepakatan Kerja Bersama/Peraturan Working Agreement/Company's Regulation and
Perusahaan serta sesuai dengan UU Tenaga kerja in accordance with Labor law No. 13/2003.
No 13/2003.
Perhitungan imbalan paska kerja menggunakan The calculation of post employment benefit is
metode Projected Unit Credit. Akumulasi using Projected Unit Credit Method.
keuntungan dan kerugian aktuarial bersih yang Accumulated net actuarial gain and loss that has
belum diakui yang melebihi jumlah yang lebih not been recognized exceeding the larger amount
besar diantara 10% dari nilai kini imbalan pasti between 10% from present value of defined
dan 10% nilai wajar aktiva program diakui benefit and 10% fair value of assets program
dengan metode garis lurus selama rata-rata sisa were recognized with straight line method during
masa kerja yang diperkirakan dari para peke rja average of estimated year of services from all
dalam program tersebut. employees in the program.
Biaya jasa lalu dibebankan langsung apabila Prior service expense has been charged directly
imbalan tersebut menjadi hak atau vested dan when the compensation become rights or vested
sebaliknya akan diakui sebagai beban dengan and on the contrary will be recognized as
metode garis lurus selama periode rata-rata expense with straight line method during average
sampai imbalan tersebut menjadi hak. period until the compensation become vested.
Jumlah yang diakui sebagai imbalan pasti di The amount that has been recognized as defined
neraca merupakan nilai kini kewajiban imbalan benefit on balance sheets represents present
pasti disesuaikan dengan keuntungan dan value of defined benefit liability, which is
kerugian aktuarial yang belum diakui, biaya jasa adjusted to unrecognized actuarial gain and loss,
lalu yang belum diakui dan nilai wajar aktiva unrecognized prior service expense and fair
program. value of program assets.
16

(continued)
o. Laba bersih per saham o. Net earning per share
Sesuai dengan PSAK No. 56, "Laba per Saham", In accordance with PSAK No. 56, “Earnings per
laba bersih per saham sebelum dan sesudah pos Share”, net earning per share excluding and
luar biasa dihitung dengan membagi laba bersih including extraordinary items is computed by
sebelum dan sesudah pos luar biasa dengan dividing net earning excluding and including
jumlah rata-rata tertimbang saham yang extraordinary items with the weighted average
ditempatkan dan disetor penuh selama tahun issued and fully paid shares during the year.
berjalan.
p. Informasi segmen p. Segment information
Informasi segmen disusun sesuai dengan Segment information is presented using the
kebijakan akuntansi yang dianut dalam accounting policies adopted in preparing and
penyusunan dan penyajian laporan keuangan presenting the consolidated financial statements.
konsolidasian. Bentuk primer pelaporan segmen The primary format in reporting segment
adalah segmen usaha sedangkan segmen information is based on business segment, while
sekunder adalah segmen geografis. Segmen the secondary segment information is based on
usaha adalah komponen Perusahaan yang dapat geographical segment. A business segment is a
dibedakan dalam menghasilkan produk atau jasa distinguishable component of the Company that
(baik produk atau jasa individual maupun is engaged in providing product or service or a
kelompok produk atau jasa terkait) dan group of related products or services and that is
komponen itu memiliki risiko dan imbalan yang subject to risks and returns that are different
berbeda dengan risiko dan imbalan segmen lain. from those of other business segments.
Segmen geografis adalah komponen Geographical segment is a distinguishable
Pperusahaan yang dapat dibedakan dalam component of the Company that is engaged in
menghasilkan produk atau jasa pada lingkungan providing products or services within a
(wilayah) ekonomi tertentu dan komponen itu particular economic environment and that is
memiliki risiko dan imbalan yang berbeda subject to risks and returns that are different
dengan risiko dan imbalan pada komponen yang from those of components operating in other
beroperasi pada lingkungan (wilayah) ekonomi economic environments.
lain.
q. Pendapatan dan beban q. Revenue and expense recognition
Penjualan barang diakui pada saat barang Sales of goods are recognized when goods are
diserahkan dan kepemilikan telah beralih kepada delivered and its ownerships have been
pelanggan. transferred to customers.
Pendapatan dari jasa diakui pada saat jasa Revenues from services are recognized when the
diserahkan atau secara sig nifikan diberikan dan services are delivered or the benefits of services
manfaat jasa tersebut telah beralih kepada have been transferred to customers.
pelanggan.
Pendapatan bunga diakui atas dasar waktu, Interest income is recognized based on time
pokok dan tingkat bunga berlaku. elapse, principle amount and prevailing interest
rate.
Beban diakui pada saat terjadinya atau sesuai Expenses are recognized when incurred or based
dengan masa manfaatnya (metode akrual). on estimated useful lives (accrual method).
17

(continued)
r. Penggunaan estimasi r. Use of estimates
Penyusunan laporan keuangan yang sesuai The preparation of the financial statements in
dengan prinsip akuntansi yang berlaku umum conformity with accounting principles generally
mengharuskan manajemen untuk membuat accepted requires management to make estimates
estimasi dan asumsi yang mempengaruhi jumlah and assumptions that affect the reported amounts
aktiva dan kewajiban dan pengungkapan aktiva of assets and liabilities and disclosure of
dan kewajiban kontinjen pada tanggal laporan contingent assets and liabilities at the date of the
keuangan serta jumlah pendapatan dan beban financial statements and the reported amounts of
selama periode pelaporan. Hasil yang sebenarnya revenues and expenses during the reporting
mungkin berbeda dari jumlah yang diestimasi. period. Actual results could differ from those
estimates.
18
3. Kas dan setara kas 3. Cash and cash equivalents

Saldo kas dan setara kas Per 31 Desember 2008 dan Cash and cash equivalents as of 31 December 2008
2007 terdiri dari : and 2007 consist of :
31 Des 2008 31 Des 2007
31 Dec 2008 31 Dec 2007
Kas 6.739.408.375 1.905.974.701 Cash on hand
Jumlah kas 6.739.408.375 1.905.974.701 Total cash on hand
Bank : Cash in banks :
Rekening Rupiah Rupiah accounts
PT Bank Mandiri 912.422.840 1.617.168.894 PT Bank Mandiri
PT Bank Central Asia 14.293.897 8.901.727 PT Bank Central Asia
PT Bank Hana (d/h Bank Bintang PT Bank Hana ((formerly known
Manunggal 765.736.588 2.362.813.322 as Bank Bintang Manunggal)
CIMB Niaga (formerly known
CIMB Niaga (d/h PT Bank Lippo) 581.398.249 704.711.520 as PT Bank Lippo
Standard Chartered Bank 23.216.037 6.693.597 Standard Chartered Bank
HSBC, Ltd cabang Jakarta 181.263.466 12.212.827 HSBC, Ltd Jakarta branch
Citibank Jakarta 68.972.946 19.460.936 Citibank Jakarta
PT Bank Danamon 993.629 1.603.619 PT Bank Danamon
PT Bank Mizuho Indonesia 104.450 176.450 PT Bank Mizuho Indonesia
PT Bank Internasional Indonesia 520.838 947.122 PT Bank Internasional Indonesia
PT Bank Permata 3.535.769 - PT Bank Permata
Sub jumlah 2.552.458.709 4.734.690.014 Sub total
Rekening Dollar Amerika Serikat US Dollar accounts
PT Bank Mandiri 25.678.188 22.454.990 PT Bank Mandiri
PT Bank Chinatrust Indonesia 57.749.206 3.400.089.363 PT Bank Chinatrust Indonesia
Standard Chartered Bank 3.347.811.281 2.024.631.192 Standard Chartered Bank
PT Bank Internasional Indonesia 780.037.157 5.450.235.498 PT Bank Internasional Indonesia
PT Bank Mizuho Indonesia 78.992.315 619.939.930 PT Bank Mizuho Indonesia
CIMB Niaga (formerly known
CIMB Niaga (d/h PT Bank Lippo) 24.441.933 8.249.254 as PT Bank Lippo
Bangkok Bank 136.415.319 4.465.796.279 Bangkok Bank
HSBC, Ltd cabang Jakarta 2.494.405.973 2.667.956.616 HSBC, Ltd Jakarta branch
HSBC, Ltd cabang Hongkong 256.729.101 281.601.633 HSBC, Ltd Hongkong branch
Citibank Jakarta 3.862.409.158 11.083.738.643 Citibank Jakarta
PT Bank Permata 306.814.246 - PT Bank Permata
Sub jumlah 11.371.483.877 30.024.693.398 Sub total
Rekening Euro Euro accounts
Standard Chartered Bank 5.471.153 34.665.293 Standard Chartered Bank
PT Bank Internasional Indonesia 47.100.899 27.668.195 PT Bank Internasional Indonesia
Jumlah bank rekening Euro 52.572.052 62.333.488 Total bank Euro account
Rekening Hongkong Dollar Hongkong Dollar account
HSBC, Ltd cabang Hongkong 72.131.997 175.815.992 HSBC, Ltd Hongkong branch
Jumlah kas di bank 14.048.646.635 34.997.532.892 Total cash in banks
Jumlah kas dan setara kas 20.788.055.010 36.903.507.593 Total cash and cash equivalents
19
4. Piutang usaha 4. Trade receivables
Saldo piutang usaha per 31 Desember 2008 dan Trade receivables as of 31 December 2008 and
2007 terdiri dari : 2007 consist of :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Pihak ketiga Third parties

Pelanggan luar negeri Foreign customers
Nike Inc 17.564.715.675 41.524.191.198 Nike Inc
Adidas Sourcing Limited 16.977.247.564 16.633.641.030 Adidas Sourcing Limited
Lerner 13.623.490.919 5.926.481.989 Lerner
Lifestyle 8.547.808.492 - Lifestyle
Liz Claiborne 8.308.819.485 7.104.085.965 Liz Claiborne
Reebok Incorporation 7.645.723.766 - Reebok Incorporation
Supreme International 7.459.664.724 - Supreme International
Salomon 7.303.081.289 12.891.580.884 Salomon
CSI Industries 6.350.708.730 6.986.785.319 CSI Industries
Bonfire Snowboarding Co 5.253.831.604 8.497.173.627 Bonfire Snowboarding Co
Oxford 4.233.069.068 1.807.781.323 Oxford
The North Face 3.498.776.819 21.234.597.972 The North Face
Russel 1.858.572.298 17.527.777.634 Russel
Mast Industries 2.915.412.753 - Mast Industries
Haggar 2.616.640.908 - Haggar
Creative 2.169.965.552 - Creative
The Cato 2.077.682.699 - The Cato
Dewhirst 1.862.365.049 - Dewhirst
S. Oliver 1.558.534.854 4.935.860.234 S. Oliver
Columbia - 2.242.799.628 Columbia
Asco General Supplies (PTE) Ltd - 2.214.443.249 Asco General Supplies (PTE) Ltd
Champion Benelux 3.492.407.766 5.190.624.865 Champion Benelux
Ecko Comp - 3.305.721.345 Ecko Comp
Christhoper - 2.486.801.083 Christhoper
Dillard - 1.178.527.979 Dillard
HMX Sportwear - 1.060.011.434 HMX Sportwear
Joint Service - 1.196.116.926 Joint Service
Jack Nicklous - 2.447.669.377 Jack Nicklous
Royal Robbin - 8.191.041.579 Royal Robbin
Tactical - 4.803.198.234 Tactical
Tom Tailor - 3.659.788.067 Tom Tailor
Lain-lain -kurang dari Others less than
Rp 1 Milyar 5.811.808.528 12.841.683.119 Rp 1 Billion each
Jumlah pelanggan luar negeri 131.130.328.542 195.888.384.060 Total foreign customers
20
4. Piutang usaha (lanjutan) 4. Trade receivables (continued)
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Pihak ketiga (lanjutan) Third parties (continued)

Pelanggan luar negeri Foreign customers
Jumlah pindahan 131.130.328.542 195.888.384.060 Total brought forward
Pelanggan dalam negeri Local customers

Lain-lain -kurang dari Others less than
Rp 1 Milyar 25.388.931 66.426.459 Rp 1 Billion each
Jumlah pelanggan dalam negeri 25.388.931 66.426.459 Total local customers
Jumlah 131.155.717.473 195.954.810.519 Total
Penyisihan piutang ragu-ragu - - Allowance for doubtful account
Jumlah piutang usaha, bersih 131.155.717.473 195.954.810.519 Total trade receivables, net
Rincian piutang usaha menurut jenis mata uang The details of trade receivables based on currency,
adalah sebagai berikut: are as follows:
2008 2007
Mata uang asing Mata uang Rupiah Mata uang asing Mata uang Rupiah
Foreign currency Rupiah currency Foreign currency Rupiah currency
USD 11.976.551,17 131.143.235.307 20.410.741,83 192.248.777.358

Euro - - 266.998,96 3.673.905.827
Rupiah - 12.482.166 - 32.127.334
Jumlah/Total 131.155.717.473 195.954.810.519
Penyisihan piutang ragu-ragu/
Allowance for doubtful account - - - -
Jumlah piutang usaha, bersih/

Total trade receivables, net - 131.155.717.473 - 195.954.810.519
Rincian umur piutang usaha dari pihak ketiga sejak An aging schedule of trade receivables from third
tanggal faktur, adalah sebagai berikut: parties from the invoice date, is as follows:
31 Des 2008 31 Des 2007
31 Dec 2008 31 Dec 2007
Kurang dari 1 bulan 97.148.149.052 135.993.154.820 Less than 1 month
1 - 3 bulan 33.268.170.494 50.233.701.887 1 – 3 months
3 - 6 bulan 235.346.649 8.895.869.836 3 – 6 months
6 – 12 bulan 504.051.278 832.083.976 6 – 12 months
Penyisihan piutang ragu-ragu - - Allowance for doubtful account
Jumlah 131.155.717.473 195.954.810.519 Total
21
4. Piutang usaha (lanjutan) 4. Trade receivables (continued)
Berdasarkan penelaahan atas status masing-masing Based on evaluation of the status of each debtor at
debitur pada 31 Desember 2008 dan 2007, 31 December 2008 and 2007, management believes
manajemen berkeyakinan bahwa seluruh piutang that all of trade receivables are collectible therefore
dapat tertagih sehingga penyisihan piutang ragu- the Company does not provide any allowance for
ragu sebesar nihil. doubtful accounts.
Pada tahun 2008, atas piutang usaha PT Pancaprima In 2008, trade receivables of PT Pancaprima
Ekabrothers (anak perusahaan) sebesar Ekabrothers (its subsidiary) amounting to
USD 3,000,000 yang dijaminkan telah ditarik USD 3,000,000 pledged as collateral, have been
kembali. (lihat catatan 13). withdrawn (see note 13).
5. Piutang lain-lain 5. Other receivables
Saldo piutang lain-lain pihak ketiga per Other receivables to third parties as of
31 Desember 2008 dan 2007 terdiri dari : 31 December 2008 and 2007 consist of :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
PT Glory Buana Garment 6.109.226.332 4.447.494.054 PT Glory Buana Garment
PT Sky Camping 3.994.340.274 4.615.350.219 PT Sky Camping
Everest Textile 1.462.628.467 693.285.463 Everest Textile
Texmaco 986.970.594 765.419.574 Texmaco
Jip Cheong Industrial Limited 606.052.167 504.902.387 Jip Cheong Industrial Limited
Karyawan 573.587.425 522.887.205 Employees
Indonesia Taroko Textile 607.608.839 342.869.751 Indonesia Taroko Textile
Lain-lain kurang dari Rp 500 juta 5.131.006.070 4.127.375.908 Others less than Rp 500 Million
Jumlah 19.471.420.168 16.019.584.561 Total
Berdasarkan penelaahan atas status masing-masing Based on evaluation of the status of each debtor at
debitur pada akhir tahun, manajemen berkeyakinan year end, management believes that all of other
bahwa seluruh piutang lain-lain dapat tertagih receivables are collectible therefore allowance for
sehingga penyisihan piutang ragu-ragu sebesar nihil. doubtful accounts is not provided.
Piutang lain-lain kepada PT Sky Camping telah Other receivable to PT Sky Camping has been
dijamin dengan sejumlah aset berupa Ruko di secured with assets in Cempaka Putih and Land in
Cemp aka Putih dan Tanah di Karawang yang Karawang, management believes that assets are
menurut manajemen mencukupi untuk menjamin adequate to cover the debt of PT Sky Camping to
besarnya hutang PT Sky Camping ke PT Pancaprima Ekabrothers (Subsidiary).
PT Pancaprima Ekabrothers (Anak Perusahaan).
22
6. Persediaan 6. Inventories
Saldo persediaan per 31 Desember 2008 dan 2007 Inventories as of 31 December 2008 and 2007
terdiri dari : consist of :
31 Des 2008 31 Des 2007
31 Dec 2008 31 Dec 2007
Bahan baku 48.297.351.347 58.763.366.645 Raw materials
Bahan tidak langsung 109.854.627 983.814.783 Indirect materials
Barang dalam proses 273.157.049.924 209.840.648.166 Goods in process
Barang jadi 37.491.363.622 32.469.796.245 Finished goods
Suku cadang, bahan bakar
dan pelumas 1.402.200.307 950.593.810 Spareparts, fuels and lubricants
Jumlah 360.457.819.827 303.008.219.649 Total
Cadangan penyisihan persediaan Allowance for obsolescence
usang - - inventory
Jumlah 360.457.819.827 303.008.219.649 Total

Berdasarkan hasil penelaahan terhadap fisik dari Based on the result of the assessment of physical
persediaan, manajemen berkeyakinan bahwa tidak condition of inventories, the management is of the
diperlukan pembentukan penyisihan penurunan atas opinion that no provision for decline in inventory
nilai persediaan dan persediaan usang. value and obsolescence is necessary.
Terhadap persediaan sisa produksi dan sisa produk Concerning of remaining product supply and
gagal telah dikeluarkan dari saldo persediaan karena remaining rejected product which were excluded
manajemen berkeyakinan bahwa persediaan ini from inventories because the management believes
tidak mempunyai nilai ekonomis dan diusulkan that the inventories did not have any economical
untuk dimusnahkan berdasarkan Surat Keputusan value and proposed to be destroyed based on the
Menteri Keuangan No. 580/KMK.04/2003 tentang Decision Letter of the Finance Ministry
Tatalaksana Kemudahan Impor Tujuan Ekspor dan No. 580/KMK.04/2003 regarding Regulations of
Pengawasannya. Pemusnahan belum dapat Import Facilitation for Export Purpose and its
dilaksanakan karena belum mendapat persetujuan Monitoring. The destroy has not been executed as
dari Direktorat Jenderal Bea dan Cukai. the approval from Directorate of Customs and
Duties has not been received.
Persediaan dalam proses sebesar Rp Goods in process amounting to Rp 273.157.049.924
273.157.049.924 pada 2008 dan in 2008 and Rp 209,840,648,166 in 2007 represents
Rp 209.840.648.166 pada tahun 2007 merupakan goods in process for export sales demand in
persediaan dalam proses dalam rangka pemenuhan January 2009 and 2008 amounting to
permintaan penjualan ekspor di bulan Januari 2009 USD 17,384,055 and USD 20,000,000.
dan 2008 sebesar USD 17.384.055 dan
USD 20.000.000.
Persediaan telah diasuransikan secara koasuransi Inventories are covered with co. insurance to
kepada PT China Insurance Indonesia, PT Aegis PT China Insurance Indonesia, PT Aegis Indonesia
Indonesia dan PT Asuransi Allianz terhadap risiko and PT Asuransi Allianz against the risks of fire,
kebakaran, gempa bumi, petir dan risiko lainnya earthquake, lightning and other risks with total
dengan nilai pertanggungan masing-masing pada coverage in 2008 and 2007 amounting to
tahun 2008 dan 2007 sebesar USD 6.700.000 dan USD 6,700,000 and USD 10,600,000 respectively.
USD 10.600.000.
23
6. Persediaan (lanjutan) 6. Inventories (continued)
Persediaan PT Pancaprima Ekabrothers (Anak Inventories of PT Pancaprima Ekabrothers

Perusahaan) telah diasuransikan kepada PT Tokio (Subsidiary) are covered with insurance to PT Tokio
Marine Indonesia terhadap risiko kebakaran, Marine Indonesia against the risks of fire,
gempa bumi, petir dan risiko lain dengan nilai earthquake, lightning and other risks with total
pertanggungan sebesar USD 15.000.000 pada coverage of USD 15,000,000 in 2008 and
tahun 2008 dan Rp 8.310.600.000 dan Rp 8,310,600,000 and USD 12,635,000 in 2007.
USD 12.635.000 pada tahun 2007.
Manajemen berpendapat bahwa nilai Management is of the opinion that the sum insured is
pertanggungan tersebut cukup untuk menutup adequate to cover possible losses for the assets
kemungkinan kerugian atas aktiva yang insured.
dipertanggungkan.
7. Perpajakan 7. Taxation
a. Pajak dibayar dimuka a. Prepaid taxes
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Pajak penghasilan badan - Corporate income tax
lebih bayar 3.564.117.067 3.564.117.067 over paid
Pajak penghasilan pasal 22 54.814.887 - Income tax article 22
Pajak penghasilan pasal 23 23.859.181 Income tax article 23
Pajak penghasilan pasal 25 7.070.084.730 Income tax article 25
PPN masukan 28.880.263.447 20.506.546.801 VAT in
Surat Ketetapan Pajak Tax Assesment of
Kurang Bayar - 832.434.308 Under Payment
Surat Keterangan Fiskal
Luar Negeri (SKFLN) 173.000.000 - Exit permit duties
Jumlah 39.766.139.312 24.903.098.176 Total
Saldo pajak pertambahan nilai masukan per Value added tax in as of 31 December 2008 and
31 Desember 2008 dan 2007 masing-masing 2007 amounting to Rp 28,880,263,447 and
sebesar Rp 28.880.263.447 dan Rp 20,506,546,801 respectively, consists of the
Rp 20.506.546.801 terdiri dari pajak Holding Company’s value added tax in
pertambahan nilai masukan Induk Perusahaan amounting to Rp 6,205,797,028 and
sebesar Rp 6.205.797.028 dan PT Pancaprima PT Pancaprima Ekabrothers (Subsidiary)
Ekabrothers (Anak Perusahaan) sebesar amounting to Rp 22,674,466,419. The amount of
Rp 22.674.466.419. Sejumlah Rp 4.831.832.515 Rp 4,831,832,515 owned by the Holding
milik Induk Perusahaan dan Rp 7.587.884.975 Company and Rp 7,587,884,975 owned by
milik PT Pancaprima Ekabrothers (Anak PT Pancaprima Ekabrothers (Subsidiary)
Perusahaan) merupakan saldo pajak represent value added tax in which is under
pertambahan nilai masukan yang sedang dalam process of restitution.
proses pengajuan restitusi.
24
7. Perpajakan (lanjutan) 7. Taxation (continued)

a. Pajak dibayar dimuka (lanjutan) a. Prepaid taxes (continued)
Saldo tagihan kelebihan pajak penghasilan per Claim for tax refund of income tax overpayment
31 Desember 2007 sebesar Rp 832.434.308 as of 31 December 2007 amounting to
merupakan Surat Ketetapan Pajak Kurang Bayar Rp 832,434,308 represents tax assesment of
(SKPKB) Pajak penghasilan pasal 21, 23 dan 4 under payment (SKPKB) of income tax articles
ayat 2 (final) tahun 2003 yang telah dibayarkan 21, 23 and 4 art 2 (final) in 2003 which has been
oleh Perusahaan di tahun 2005, namun paid by the Company in 2005, but the Company
Perusahaan melakukan keberatan dan melakukan filed an objection and had appealed to the tax
banding ke peradilan pajak. Sesuai dengan Surat court, in which the decision was rendered in
keputusan pajak tanggal 27 Pebruari 2008, favor of the Company, based on tax decision
Perusahaan dinyatakan menang dan telah letter dated 27 February 2008, the Company won
menerima pengembalian dana tersebut. and has received fund return.
b. Hutang pajak b. Taxes payable
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Pajak penghasilan pasal 21 440.283.619 729.899.164 Income tax art 21
Pajak penghasilan pasal 23 527.731.721 604.258.985 Income tax art 23
Pajak penghasilan pasal 25 574.797.4 55 648.531.149 Income tax art 25
Pajak penghasilan pasal 4 ayat 2 2.762.348 25.084.218 Income tax article 4 section 2
Jumlah 1.545.575.143 2.007.773.516 Total
c. Pajak penghasilan badan c. Corporate income tax
Penghasilan (beban) pajak Perusahaan terd iri Tax benefit (expense) of the Company consists of
dari : the following :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Pajak kini Current tax
Perusahaan - (1.352.307.200) The Company
Anak perusahaan - (4.557.906.800) Subsidiary
Jumlah penghasilan (beban) pajak - (5.910.214.000) Total tax benefit (expense)
Pajak tangguhan lihat catatan 7d. Deferred tax see note 7d.
Pajak kini Current tax
Rekonsiliasi antara laba (rugi) sebelum taksiran Reconciliation between profit (loss) before
pajak penghasilan badan dengan taksiran corporate income tax per statement of income
penghasilan (rugi) kena pajak adalah sebagai and taxable income is as follows :
berikut :
25

c. Pajak penghasilan badan (lanjutan) c. Corporate income tax (continued)
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Laba (rugi) sebelum pajak Profit (loss) before income tax
penghasilan sesuai dengan laporan based on consolidated
laba rugi konsolidasian (40.991.219.842) 29.557.629.961 statement of income
(Laba) rugi anak perusahaan (Profit) loss of subsidiary
sebelum pajak penghasilan 31.561.664.130 (11.387.478.799) before income tax
Eliminasikonsolidasian 39.337.962 7.095.561.585 Elimination consolidation
Laba (rugi) perusahaan sebelum Profit (loss) of the Company before
taksiran penghasilan estimated tax
(beban) pajak (9.390.217.750) 25.265.712.747 income (expense)
Beda waktu : Timing differences :

Kewajiban diestimasi untuk Provision for retirement
manfaat pensiun 3.758.280.085 3.122.821.850 benefit
Penyusutan aktiva tetap (4.954.402.867) (3.297.286.024) Depreciation of fixed assets
Aktual manfaat karyawan yang Actual employees benefit
dibayarkan (428.739.241) - paid
Jumlah beda waktu (1.624.862.023) (174.464.174) Total timing differences
Beda tetap : Permanent differences :

Penghasilan bunga dan jasa giro (146.704.021) (112.307.348) Interest income
Beban pajak 390.291.587 367.222.645 Tax expenses
Jamuan 112.425.800 364.759.665 Entertainment
Sumbangan 44.428.700 64.349.050 Donation
Keuntungan penjualan saham Gain on sales of share
anak perusahaan - (14.110.055.836) of a subsidiary
Keuntungan penjualan aktiva tetap - (7.101.399.693) Gain on sale of fixed asset
Lain-lain 6.500.000 2.207.800 Others
Jumlah beda tetap 406.942.066 (20.525.223.717) Total permanent differences

Laba (rugi) fiskal, bersih (10.608.137.707) 4.566.024.856 Taxable income (deficit), net
Taxable income (deficit),
Laba (rugi) fiskal, dibulatkan (10.608.137.000) 4.566.024.000 rounded off
Perhitungan taksiran pajak penghasilan : Provision for income tax calculation :
10% x Rp 50.000.000 - 5.000.000 10% x Rp 50.000.000
15% x Rp 50.000.000 - 7.500.000 15% x Rp 50.000.000
30% x Rp 4.466.024.000 - 1.339.807.200 30% x Rp 4,466,024,000
Taksiran penghasilan kena pajak Provision for income tax
Perusahaan - 1.352.307.200 Company
Anak Perusahaan - 4.557.906.800 Subsidiary
Jumlah dipindahkan - 5.910.214.000 Total carried forward
26

c. Pajak penghasilan badan (lanjutan) c. Corporate income tax (continued)
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Jumlah pindahan - 5.910.214.000 Total brought forward
Dikurangi uang muka pajak Less prepaid taxes
Perusahaan Company
Pajak penghasilan pasal 23 - 97.204.477 Income tax article 23
Pajak penghasilan pasal 25 - 2.356.608.441 Income tax article 25
Fiskal - 83.000.000 Fiscal
- 2.536.812.918
Anak Perusahaan - 6.937.518.149 Subsidiary
Uang muka pajak/Hutang pajak Prepaid tax/Income tax payable

penghasilan kurang (lebih) bayar - (3.564.117.067) under(over) paid
d. Pajak tangguhan d. Deferred tax

Terdiri dari : Consists of :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Aktiva (kewajiban) pajak tangguhan : Deferred tax assets (liabilities) :
Perusahaan 1.226.845.139 1.702.429.229 The Company
Anak perusahaan Subsidiary
PT Pancaprima Ekabrothers 3.536.765.422 3.466.976.583 PT Pancaprima Ekabrothers
Jumlah aktiva (kewajban) Total deferred tax
pajak tangguhan, bersih 4.763.610.561 5.169.405.812 assets (liabilities), net
Rincian dari aktiva pajak tangguhan Perusahaan The details of the Company’s deferred tax assets
adalah sebagai berikut : and liabilities are as follows :
31 Des/Dec 2007 Dikreditkan Efek perubahan 31 Des/Dec
2008 (dibebankan) ke laporan tarif /Effect
laba rugi/Credited (charged) of changes
to income statements in new tax rate
Perusahaan/The Company
Aktiva (kewajiban) pajak tangguhan/

Deferred tax asset (liabilities) :
Beban manfaat pensiun/
Post employment benefit 4.348.194.671 1.046.754.832 (724.699.112) 4.670.250.390
Penyusutan aktiva tetap/
Depreciation of fixed assets (2.645.765.442) (1.238.600.717) 440.960.907 (3.443..405.251)
Rugi fiskal/Fiscal loss - 2.652.034.426 - 2.652.034.426
Penyisihan atas aktiva pajak tangguhan/
Allowance for deferred tax assets - (2.652.034.426) - (2.652.034.426)
Aktiva (kewajiban) pajak tangguhan,
bersih/Deferred tax assets
(liabilities), net 1.702.429.229 (191.845.885) (283.738.205) 1.226.845.139
27
d. Pajak tangguhan (lanjutan) d. Deferred tax (continued)
Rincian dari aktiva pajak tangguhan Perusahaan The details of the Company’s deferred tax assets
adalah sebagai berikut : and liabilities are as follows :
31 Des/Dec 2007 Dikreditkan Efek perubahan 31 Des/ Dec

2008 (dibebankan) ke laporan tarif/
laba rugi/Credited (charged) Effect
to income statements of changes
in new tax rate
Anak Perusahaan/Subsidiary
PT Pancaprima Ekabrothers

Post employment benefit 3.222.989.351 803.577.325 (537.164.892) 3.489.401.782
Depreciation of fixed assets 243.987.232 (155.959.055) (40.664.539) 47.363.640
(liabilities), net 3.466.976.583 647.618.270 (577.829.431) 3.536.765.422
Jumlah aktiva (kewajiban) pajak

tangguhan, bersih konsolidasi/Deferred
tax assets (liabilities), net consolidation 5.169.405.812 455.772.385 (861.567.636) 4.763.610.561
Karena tidak adanya kepastian realisasi, Because future realization is not virtually certain,
manajemen memutuskan tidak mengakui aktiva management has decided not to recognize the
pajak tangguhan sebesar Rp 2.652.034.426 per deferred tax assets of Rp 2,652,034,426 as at
31 Desember 2008 yang berasal dari rugi fiskal. 31 December 2008 arising from tax losses
31 Des/Dec 2006 Dikreditkan 31 Des/Dec

2007 (dibebankan) ke laporan
laba rugi/Credited (charged)
to income statements
Perusahaan/ The Company
Post employment benefit 3.398.203.263 949.991.408 4.348.194.671
Depreciation of fixed assets (1.656.579.635) (989.185.807) (2.645.765.442)
(liabilities), net 1.741.623.628 (39.194.399) 1.702.429.229
28
d. Pajak tangguhan (lanjutan) d. Deferred tax (continued)
31 Des/Dec 2006 Dikreditkan 31 Des/Dec

2007 (dibebankan) ke laporan
laba rugi/Credited (charged)
to income statements
Anak Perusahaan/ Subsidiary

PT Pancaprima Ekabrothers
Post employment benefit 2.157.185.357 1.065.803.994 3.222.989.351
Depreciation of fixed assets 200.975.150 43.012.082 243.987.232
(liabilities), net 2.358.160.507 1.108.816.076 3.466.976.583
Jumlah aktiva (kewajiban) pajak
tangguhan, bersih konsolidasi/ Deferred
tax assets (liabilities), net consolidation 4.099.784.135 1.069.621.677 5.169.405.812
Manfaat (beban) pajak Perusahaan dan hasil The reconciliation between the income tax benefit
perkalian laba Perusahaan sebelum pajak dengan (expense) of the Company and the amounts computed
tarif pajak maksimum yang berlaku adalah by applying the applicable maximum tax rate on the
sebagai berikut : Company’s income before tax is as follows :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Pajak tangguhan Deferred tax

Perusahaan (475.584.090) (39.194.399) The Company
Anak perusahaan Subsidiary
PT Pancaprima Ekabrothers 69.788.839 1.108.816.076 PT Pancaprima Ekabrothers
Jumlah penghasilan (beban) pajak (405.795.251) 1.069.621.677 Total tax benefit ( expense)
29

e. Rekonsiliasi antara penghasilan (beban) e. Reconciliation between the total tax benefit
pajak dan hasil perkalian laba akuntansi (expense) and the amounts computed by
sebelum pajak dengan tarif pajak yang applying the effective tax rate to income before
berlaku adalah sebagai berikut : tax is as follows :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Perusahaan The Company
Laba (rugi) Perusahaan sebelum Profit (loss) of the Company before
taksiran penghasilan estimated tax
(beban) pajak (9.390.217.750) 25.265.712.747 income (expense)
Tarif pajak efektif (2008:25% , Effective tax rate (2008:25%,
2007:30%) 2.347.554.437 (7.579.713.824) 2007:30%)
Efek pajak perbedaan tetap : Tax effect of permanent differences :
Penghas ilan bunga dan jasa giro 36.676.005 33.692.204 Interest income
Beban pajak (97.572.897) (110.166.794) Tax expenses
Jamuan (28.106.450) (109.427.900) Entertainment
Sumbangan (11.107.175) (19.304.715) Donation
Keuntungan penjualan saham Gain on sales of share
anak perusahaan - 4.233.016.752 of a subsidiary
Keuntungan penjualan aktiva tetap - 2.130.419.908 Gain on sale of fixed asset
Lain-lain (1.625.000) (662.341) Others
Jumlah (101.735.517) 6.157.567.114 Total
Manfaat (beban) pajak 2.245.818.920 (1.422.146.710) Tax benefit (expense)
Aktual manfaat karyawan yang
dibayarkan (107.184.810) - Actual employee benefit paid
Pajak kini - 1.352.307.200 Current tax
Selisih tarif progresif - 30.645.111 Progresive tariff difference
Efek perubahan tarif Effect of changes in
pajak (2.614.218.200) - new tax rate
Jumlah (beban) manfaat Total (expense) benefit
pajak tangguhan (475.584.090) (39.194.399) deferred tax
Pada September 2008, Undang-undang No. 7 In September 2008, Law No. 7 Year 1983 regarding
Tahun 1983 mengenai “Pajak Penghasilan” “Income Tax” has been revised for the fourth time
diubah untuk keempat kalinya dengan Undang- with Law No. 36 Year 2008. The revised Law
undang No. 36 Tahun 2008. Perubahan tersebut stipulates changes in corporate tax rate from a
juga mencakup perubahan tarif pajak penghasilan stratified tax rate to a single rate of 28% for fiscal
badan dari sebelumnya menggunakan tarif pajak year 2009 and then to be reduced to 25% for fiscal
bertingkat menjadi tarif tunggal yaitu 28% untuk year 2010 onwards. The Company recorded the
tahun fiskal 2009 dan 25% untuk tahun fiskal impact of the changes in tax rates amounting to
2010 dan seterusnya. Perusahaan mencatat Rp 861,567,636 as part of tax expense in the current
dampak perubahan tarif pajak tersebut sebesar year operations.
Rp 861.567.636 sebagai bagian dari beban pajak
pada tahun berjalan.
30
8. Biaya dibayar dimuka 8. Prepaid expenses
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Asuransi 266.957.126 64.062.387 Insurance
Sewa 245.092.809 148.637.980 Rental
Lain-lain 361.817.118 1.849.128.501 Others *
Jumlah 873.867.053 2.061.828.868 Total
* Lain-lain merupakan biaya untuk pengurusan * Others represent expenses for handling export
dokumen ekspor PT Pancaprima Ekabrothers document of PT Pancaprima Ekabrothers.
9. Uang muka dibayar 9. Advance payments
2008 2007
Mata uang asing Mata uang Rupiah Mata uang asing Mata uang Rupiah
Foreign currency Rupiah currency Foreign currency Rupiah currency
Pihak ketiga/Third parties
Impor/Import L/C Chinatrust
Indonesia (USD) - 342.220,56 3.223.375.491
Impor/Import L/C Standard Chartered
Bank (USD) 204.500,16 2.239.276.790 43.120,97 406.156.384
Impor/Import L/C BII (USD) 561.048,57 6.143.481.828 547.304,11 5.155.057.374
Impor/Import L/C Bangkok Bank (USD) - 15.207,36 143.238.124
Impor/Import L/C Citibank (USD) - 124.485,64 1.172.530.244
Impor/Import L/C Bank Mizuho (USD) 17.675,83 193.550.338 111.709,53 1.052.192.063
Impor/Import L/C HSBC (USD) 43.385,49 475.071.116 -
Impor/Import non L/C (USD) 490.257,90 5.368.324.051 828.269,90 7.801.474.171
Lokal/Local non L/C 6.360.417.908 10.005.795.286
L/C margin Bank Internasional Indonesia 554.905.769 1.028.301.873
Uang muka pembelian bahan baku/
Prepayment of raw materials purchases 12.686.146.542 8.924.917.484
PT Pilar Sejati Sejahtera 2.789.445.013 -
PT Putra Pilar Sejati 8.659.805.743
Uang muka/Advance payments CMT 2.827.716.800 -
Uang muka pembelian aktiva tetap/
Prepayment of fixed assets purchases 7.265.709.139 6.703.837.234
Uang muka angkutan ekspor/
Prepayment of freight export 18.170.805.978 11.441.316.630
Perjalanan dinas/Business travel 198.850.645 210.320.445
Lain-lain/Others* 4.043.893.091 2.234.141.780
Jumlah/Total 77.977.400.751 59.502.654.583

Uang muka lokal non L/C per 31 Desember 2008 dan Advance payments of local non L/C as of 31 December
2007 sebesar Rp 6.360.417.908 dan 2008 and 2007 amounting to Rp 6,360,417,908 and
Rp 10.005.795.286 merupakan uang muka Rp 10,005,795,286 represent the Company’s advance
Perusahaan untuk pembelian bahan baku dan to purchase raw material and accessories to suppliers.
aksesoris kepada supplier.
Saldo uang muka dibayar kepada PT Pilar Sejati The balance of advance payments to PT Pilar Sejati
Sejahtera sebesar Rp 2.789.445.013 dan PT Putra Sejahtera amounting to Rp 2.789.445.013 and
Pilar Sejati sebesar Rp 8.659.805.743 pada tahun PT Putra Pilar Sejati amounting to Rp 8.659.805.743
2008 merupakan hubungan uang muka dalam in 2008 represent advance payments relationship to
rangka pemakaian jasa CMT. usage of CMT services.
31
9. Uang muka dibayar (lanjutan) 9. Advance payments (continued)

Uang muka pembelian bahan baku per 31 Desember Prepayment of raw materials purchases as of
2008 dan 2007 sebesar Rp 12.686.146.542 dan 31 December 2008 and 2007 amounting to
Rp 8.924.917.484 merupakan uang muka pembelian Rp 12,686,146,542 and Rp 8,924,917,484 represents
bahan baku PT Pancaprima Ekabrothers (Anak prepayment of raw material of PT Pancaprima
Perusahaan). Ekabrothers (Subsidiary).
L/C margin Bank Internasional Indonesia per 31 L/C margin Bank Internasional Indonesia as of
Desember 2008 dan 2007 sebesar Rp 554.905.769 dan 31 December 2008 and 2007 amounting to
Rp 1.028.301.873 merupakan jaminan setoran atas Rp 554.905.769 and Rp 1,028,301,873 represents
pembukaan L/C impor PT Pancaprima Ekabrothers guarantee deposit for open import L/C of
(Anak Perusahaan) yang besarnya 10% dari nilai L/C. PT Pancaprima Ekabrothers (Subsidiary) amounting to
10% from L/C value.
Uang muka ekspedisi ekspor per 31 Desember 2008 Prepayment of export delivery as of 31 December 2008
dan 2007 sebesar Rp 18.170.805.978 dan and 2007 amounting to Rp 18,170,805,978 and
Rp 11.441.316.630 merupakan uang muka jaminan Rp 11,441,316,630 represents prepayment warranty of
atas biaya ekspedisi ekspor. export delivery.
* Lain-lain merupakan uang muka pembayaran Letter * Others represent advance payment of Letter of Credit
of Credit dan nota debet kepada pemasok and debit note to suppliers.
10. Investasi 10. Investment
PT Pancaprima Ekabrothers memiliki investasi pada PT Pancaprima Ekabrothers has investment in
saham Primatex International Company Ltd, Taiwan shares of Primatex International Ltd, Taiwan, with
dengan nilai investasi per 31 Desember 2008 dan the value of investment as of 31 December 2008 and
2007 sebesar Rp 566.000.000. 2007 amounting to Rp 566,000,000.
11. Aktiva tetap 11. Fixed assets
Saldo aktiva tetap per 31 Desember 2008 terdiri Fixed assets as of 31 December 2008 consist of :
dari:
Saldo awal Saldo akhir
Beginning balance Penambahan Pengurangan Ending balance
1-1-2008 Addition Deduction 31-12-2008
Harga perolehan/ Acquisition cost
Kepemilikan langsung/ Direct acquisition
Tanah/ Land 26.405.005.450 8.475.270.000 - 34.880.275.450
Bangunan/ Building 28.065.963.091 25.539.896.112 - 53.605.859.203
Mesin/ Machinery 150.321.368.096 40.700.780.004 - 191.022.148.100
Instalasi/ Installation 8.498.375.087 1.671.040.523 - 10.169.415.610
Peralatan pabrik dan perlengkapan
pabrik/Factory equipment and supplies 41.955.993.170 11.207.468.043 - 53.163.461.213
Inventaris /perlengkapan kantor/kantin
/Office/canteen equipment and furnitures 6.200.220.312 1.450.432.308 189.835.220 7.460.817.400
Kendaraan/ Vehicles 17.141.681.792 3.239.378.769 1.243.420.637 19.137.639.924
Prasarana/ Infrastructure 3.848.259.620 2.039.931.448 - 5.888.191.068
Aktiva dalam penyelesaian/Assets under
construction 302.500.000 941.166.391 302.500.000 941.166.391
Sub jumlah/ Sub total 282.739.366.618 95.265.363.598 1.735.755.857 376.268.974.359
Aktiva sewa guna usaha/ Asset under
capital lease
Kendaraan/ Vehicles 158.000.000 - 158.000.000
Jumlah/Total 282.897.366.618 376.426.974.359
32
11. Aktiva tetap (lanjutan) 11. Fixed assets (continued)

Akumulasi penyusutan /Accumulated
Depreciation
Mesin/ Machinery 68.628.014.900 17.404.915.444 - 86.032.930.344
Instalasi/ Installation 3.780.191.115 741.951.830 - 4.522.142.945
Peralatan pabrik dan perlengkapan pabrik
/Factory equipment and supplies 23.542.180.093 6.416.975.235 - 29.959.155.328
/Office/canteen equipment and furnitures 3.773.534.783 771.820.481 179.288.554 4.366.066.710
Kendaraan/ Vehicles 10.688.394.309 2.356.124.529 674.795.865 12.369.722.973
Prasarana/ Infrastructure 2.631.905.664 406.696.542 - 3.038.602.206
Sub jumlah/Sub total 124.010.867.669 29.890.974.109 854.084.419 153.047.757.359
capital lease
Kendaraan/ Vehicles 19.066.668 31.600.000 - 50.666.668
Jumlah/Total 124.029.934.337 29.922.574.109 854.184.419 153.098.424.027
Nilai buku/ Book value 158.867.432.281 223.328.550.332
Saldo aktiva tetap per 31 Desember 2007 terdiri dari: Fixed assets as of 31 December 2007 consist of :

Harga perolehan/ Acquisition cost

Tanah/ Land 26.074.878.200 330.127.250 - 26.405.005.450
Mesin/ Machinery 118.519.635.528 32.770.595.223 968.862.655 150.321.368.096
Peralatan pabrik dan perlengkapan
pabrik/Factory equipment and supplies 29.423.037.063 12.825.531.307 292.575.200 41.955.993.170
/Office/canteen equipment and furnitures 5.273.198.018 1.362.346.884 435.324.590 6.200.220.312
Aktiva dalam penyelesaian/Assets under
construction 153.431.225 149.068.775 - 302.500.000
Sub jumlah/ Sub total 229.263.030.933 55.838.368.580 2.362.032.895 282.739.366.618
capital lease
Kendaraan/ Vehicles - 158.000.000 - 158.000.000
Jumlah/Total 229.263.030.933 55.996.368.580 2.362.032.895 282.897.366.618
33

Akumulasi penyusutan /Accumulated

Depreciation
Mesin/ Machinery 55.849.974.661 13.305.484.706 527.444.467 68.628.014.900
Peralatan pabrik dan perlengkapan pabrik
/Factory equipment and supplies 19.900.118.196 3.692.168.390 50.106.493 23.542.180.093
/Office/canteen equipment and furnitures 3.395.594.204 638.945.249 261.004.670 3.773.534.783
Sub jumlah/Sub total 104.059.812.049 21.448.924.084 1.497.868.464 124.010.867.669
Aktiva sewa guna usaha/Asset under
capital lease
Kendaraan/ Vehicles - 19.066.668 - 19.066.668
Jumlah/Total 104.059.812.049 21.467.990.752 1.497.868.464 124.029.934.337
Nilai buku/ Book value 125.203.218.884 158.867.432.281
Beban penyusutan aktiva tetap dialokasikan Depreciation of fixed assets are charged as follows :
sebagai berikut :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Beban pabrikasi (lihat catatan 25) 25.509.069.214 17.698.481.071 Factory expenses (see note 25)
Beban umum dan General and administrative
administrasi (lihat catatan 27) 4.413.504.895 3.769.509.681 expenses (see note 27)
Jumlah 29.922.574.109 21.467.990.752 Total
Penambahan tanah dan bangunan di tahun 2008 Increase of land and building in 2008 is as follows :
diantaranya meliputi :
Perusahaan membeli tanah seluas 31.090 m2 senilai The Company purchased land in the area of 31,090
Rp 4.974.400.000, bangunan seluas 3.300 m2 senilai sqm amounting to Rp 4,974,400,000, building of
Rp 3.194.400.000 serta inventaris dan sejumlah 3,300 sqm in the amount of Rp 3,194,400,000 and
mesin konveksi senilai Rp 5.645.405.110 yang furniture and fixture of garment machinery
berlokasi di Desa Tenjoayu Kecamatan Cicurug amounting to Rp 5,645,405,110 located in Desa
Sukabumi (lihat catatan 17), sesuai dengan akta jual Tenjoayu Kecamatan Cicurug Sukabumi (see note
beli (AJB) No.174 dan 175 tanggal 13 Mei 2008. 17), based on deeds of Sale and purchase No. 174
and 175 dated 13 May 2008.
PT Pancaprima Ekabrothers (anak perusahaan) PT Pancaprima Ekabrothers (subsidiary) purchased
membeli tanah seluas 7,970 m2 senilai land in the area of 7,970 sqm amounting to
Rp 3.188.000.000 yang berlokasi di Kelurahan Rp 3,188,000,000 located in Kelurahan Gembor
Gembor Kecamatan Jatiuwung , Tangerang Kecamatan Jatiuwung, Tangerang.
34
Pada tahun 2008, Perusahaan dan anak perusahaan In 2008, the Company and subsidiary purchased
membeli sejumlah mesin senilai Rp 40.700.780.004 some machinery amounting to Rp 40,700,780,004
yang digunakan untuk peremajaan, perluasan serta for rejuvenation, expansion and increase of
peningkatan produksi sedangkan tahun 2007, production and in 2007, the Company and
Perusahaan dan anak perusahaan membeli sejumlah Subsidiary purchased machinery and factory
mesin dan peralatan dan perlengkapan pabrik equipment and supplies amounting to
sebesar Rp 45.596.126.530 untuk peningkatan Rp 45,596,126,530 for increase of production.
produksi.
Seluruh aktiva tetap pada induk perusahaan kecuali All fixed assets at Holding company except land are
tanah diasuransikan kepada PT China Insurance covered with insurance PT China Insurance
Indonesia, PT Aegis Indonesia dan PT Allianz Indonesia, PT Aegis Indonesia and PT Allianz
Indonesia dengan jumlah pertanggungan per Indonesia with total coverage as of 31 December
31 Desember 2008 dan 2007 masin g-masing sebesar 2008 and 2007 amounting to USD 8,101,100 and
USD 8.101.100 dan Rp 15.288.796.286 serta Rp 15,288,796,286 and USD 24,948,926 and
USD 24.948.926 dan Rp 16.220.450.000 untuk Rp 16,220,450,000 against fire risk, earthquake,
risiko kebakaran dan lainnya. lightning and other risks.
Seluruh aktiva tetap PT Pancaprima Ekabrothers, All fixed assets of PT Pancaprima Ekabrothers,
anak perusahaan, kecuali tanah diasuransikan (subsidiary), except land are covered with
kepada PT Tokio Marine Indonesia, PT Asuransi insurance to PT Tokio Marine Indonesia,
Allianz Utama Indonesia dan PT Asuransi AIU PT Asuransi Allianz Utama Indonesia and
Indonesia dengan jumlah pertanggungan sebesar PT Asuransi AIU Indonesia with total coverage
USD 7.460.000 dan Rp 10.023.150.000 terhadap amounting to USD 7,460,000 and
risiko kebakaran, USD 7.460.000 dan Rp 10,023,150,000 against fire risk,
Rp 10.400.000.000 terhadap risiko gempa bumi USD 7,460,000 and Rp 10,400,000,000 against
pada tahun 2008 dan USD 7.460.000 dan earthquake risk in 2008 and USD 7,460,000 and
Rp 10.493.200.000 terhadap risiko kebakaran dan Rp 10,493,200,000 against fire risk and
gempa bumi, petir dan lainnya pada tahun 2007. earthquake, lightning and other risks in 2007.
Manajemen berpendapat bahwa nilai pertanggungan Management believes that the sum insured is
tersebut cukup untuk menutupi kemungkinan adequate to cover possible losses for the assets
kerugian atas aktiva yang dipertanggungkan. Aktiva insured. Certain fixed assets are pledged as
tetap tertentu dijaminkan untuk hutang pada HSBC collateral for the loans from HSBC and Citibank
dan Citibank (catatan 13). Di tahun 2008 aktiva (note 13). In 2008 fixed assets are pledged as
tetap tertentu yang dijaminkan untuk hutang yang collateral for the loans received from HSBC and
diterima dari HSBC dan Citibank. Citibank.
12. Aktiva lain-lain 12. Other assets
Saldo aktiva lain-lain per 31 Desember 2008 dan Other assets as of 31 December 2008 and 2007
2007 terdiri dari : consist of :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Beban renovasi 11.930.143.964 8.685.070.441 Renovation expense
Hak atas tanah 5.818.004.950 1.612.854.850 Landright
17.748.148.914 10.297.925.291
Dikurangi akumulasi amortisasi (5.031.266.295) (2.281.345.227) Less accumulated amortization
Jumlah 12.716.882.619 8.016.580.064 Total
35
12. Aktiva lain-lain (lanjutan) 12. Other assets (continued)
Beban renovasi Renovation expense

Beban renovasi merupakan beban renovasi gedung Renovation expense represents building renovation
Graha Kencana yang merupakan kantor pusat at Graha Kencana which is the Company’s head
perusahaan serta pengeluaran untuk renovasi pabrik office and factory renovation expenditures of PAN
PAN V, VI dan VII yang beroperasi di Solo V, VI and VII which operate in Solo based on rental
berdasarkan perjanjian sewa menyewa No. 3675 agreement No. 3675 and 3679/II/PJX/PBT-
dan 3679/II/PJX/PBT-SWA/2007 tanggal 30 April SWA/2007 dated 30 April 2007 between PT Pan
2007 antara PT Pan Brothers Tbk dengan PT Sari Brothers Tbk and PT Sari Warna Asli.
Warna Asli.
Beban amortisasi untuk tahun yang berakhir 31 Amortization expense for the years ended 31
Desember 2008 dan 2007 masing-masing sebesar December 2008 and 2007 amounting to
Rp 2.382.211.629 dan Rp 1.638.323.538. Rp 2,382,211,629 and Rp 1,638,323,538
respectively.
Hak atas tanah Landrights
Hak atas tanah sebesar Rp 5.818.004.950 pada Landrights amounting to Rp 5,818,004,950 in 2008
tahun 2008 dan Rp 1.612.854.850 pada tahun 2007 and Rp 1,612,854,850 in 2007 represent legal
merupakan biaya legal anak perusahaan sehubungan processing fees of Subsidiary in connection land
pembelian tanah seluas 9.925 m2 dan bangunan purchase totaling 9.925 sqm and building 3,073
3.073 m2 yang berlokasi di Kelurahan Gembor, sqm located in Kelurahan Gembor, Kecamatan
Kecamatan Tangerang, sesuai akta notaris Bambang Tangerang based on notarial deed of Bambang
Suwondo SH, No.1343-1345 tanggal 30 dan Suwondo SH, No. 1343-1345 dated 30 and
31 Agustus 2007 dan biaya legal atas perpanjangan 31 August 2007 and for extension of the Rights to
Hak Guna Bangunan No. 5932 – 5942 dengan luas Building certificates No. 5932 – 5942 totalling 1,8
keseluruhan 1,8 Ha yang dimiliki PT Pancaprima Ha owned by PT Pancaprima Ekabrothers, a
Ekabrothers, Anak Perusahaan berdasarkan akta subsidiary, based on notarial deed of H. Bambang
notaris H. Bambang Suwondo SH No. 1716 - 1726 Suwondo SH No. 1716 – 1726 dated 26 December
tanggal 26 Desember 2006 dengan jangka waktu 30 2006 with the period of 30 years.
tahun.
Manajemen berpendapat bahwa tidak terdapat Management is of the opinion that th ere are no
masalah dengan perpanjangan hak atas tanah karena problems with the extensions of landrights as the
seluruh tanah diperoleh secara sah dan didukung land acquisitions are valid and properly supported
oleh bukti pemilikan yang memadai. with appropriate title documents.
Beban amortisasi untuk tahun yang berakhir Amortization expense for the years ended
31 Desember 2008 dan 2007 sebesar 31 December 2008 and 2007 amounted to
Rp 166.102.584 dan Rp 237.482.412. Rp 166,102,584 and Rp 237,482,412.
36
13. Pinjaman jangka pendek 13. Short term loans
Pinjaman jangka pendek terdiri dari : Short term loans consist of :

31 Des 2008 31 Des 2007
31 Dec 2008 31 Dec 2007
HSBC 176.756.992.584 85.056.943.320 HSBC
Citibank 31.981.525.765 60.300.118.602 Citibank
Bangkok Bank 88.651.398.198 55.071.326.149 Bangkok Bank
Bank Internasional Indonesia 60.201.271.350 33.803.505.495 Bank Internasional Indonesia
Bank Mizuho 16.897.413.880 13.932.263.046 Bank Mizuho
Standard Chartered Bank 21.351.159.063 32.252.663.283 Standard Chartered Bank
Bank Chinatrust Indonesia 8.350.780.230 33.039.142.248 Bank Chinatrust Indonesia
Bank Permata 29.078.809.817 - Bank Permata
Jumlah 433.269.350.887 313.455.962.143 Total
Pinjaman bank – HSBC Bank loans – HSBC
Perseroan The Company

Berdasarkan surat perjanjian kredit Based on the Loan Agreement
No. JAK/080049/U/080128 tanggal 30 Januari No. JAK/080049/U/080128 dated 30 January 2008,
2008, Perseroan memperoleh fasilitas kredit dari the Company received credit facilities from
Hongkong and Shanghai Banking Corporation Ltd Hongkong and Shanghai Banking Corporation Ltd
(HSBC) Jakarta berupa limit gabungan sebesar USD (HSBC) Jakarta such as combine facility amounting
3.000.000 terdiri dari DC impor dan lokal, Clean to USD 3,000,000 consists of DC import/local,
Import loan, Export Packing Credit, Documents Clean Import Loan (CIL), Export Packing Credit,
against Acceptance. Document against Acceptance.
Saldo per tanggal 31 Desember 2008 dan 2007 Balance as of 31 December 2008 and 2007
masing-masing sebesar Rp 36.759.545.734 dan amounted to Rp 36,759,545.734 and Nil
Nihil.
PT Pancaprima Ekabrothers (Anak Perusahaan) PT Pancaprima Ekabrothers (Subsidiary)
Berdasarkan akta notaris Suzana Zakaria, SH Based on notarial deed No.30 dated 12 October
No. 30 pada tanggal 12 Oktober 1992, PT Pan 1992 of Suzana Zakaria, SH, PT Pan Brothers Tbk
Brothers Tbk dan anak perusahaan menerima and its subsidiary received credit facilities from
fasilitas kredit dari The Hongkong and Shanghai Hongkong and Shanghai Banking Corporation Ltd
Banking Corporation Ltd Jakarta (HSBC) seperti (HSBC) Jakarta such as export credit, deferred
kredit ekspor, kredit biaya tangguhan, surat payment credit, open of documentary sight letters,
pembukaan dokumentasi, pembiayaan pemasok dan supplier financing and import line.
hutang impor.
Perjanjian kredit telah beberapa kali mengalami The credit agreement has been amended for several
perubahan/perpanjangan, terakhir dengan perjanjian times and the latest amendment
kredit No. JAK/080048/U/080128 tanggal No. JAK/080048/U/080128 dated 30 Januari 2008
30 Januari 2008 dengan pagu gabungan sebesar with maximum combined credit amounting to
USD 13.500.000. Jaminan atas fasilitas hutang bank USD 13,500,000. The collaterals assigned for this
ini antara lain : bank loan facility are as follows :
37
13. Pinjaman jangka pendek (lanjutan) 13. Short term loans (continued)
Pinjaman bank – HSBC (lanjutan) Bank loans – HSBC (continued)
- Sertifikat Hipotik Pertama No. 235 senilai - First Mortgage Certificate No. 235 amounting to
USD 2.500.000 (HGB No. 2788/Gembor) USD 2,500,000 (HGB No. 2788/Gembor) dated
tanggal 4 Nopember 1993 (lihat catatan 11) 4 November 1993 (see note 11)
- Mesin dan pera latan senilai Rp 25.000.000.000 - Machineries and equipments amounting to
yang berada di Jl. Ledug No. 178, Desa Rp 25,000,000,000 located in Jl. Ledug No. 178,
Gembor, Kecamatan Jatiuwung, Tangerang Desa Gembor, Kecamatan Jatiuwung,
berdasarkan Akta Jaminan Fidusia No. 1 Tangerang, based on Fiducia Collateral Deed
tanggal 8 Nopember 2000 (lihat catatan 11). No. 1 dated 8 November 2000 (see note 11).
Jaminan paripassu atas persediaan dan piutang The collateral paripassu of inventories and trade
usaha dengan total USD 9.000.000 telah ditarik receivables with total amount of USD 9,000,000 has
kembali di tahun 2008 sesuai dengan surat masing- been withdrawn in 2008 based on the letters from
masing bank yaitu Citibank, HSBC, Bangkok Bank Citibank, HSBC, Bangkok Bank and Standard
dan Standard Chartered Bank (lihat catatan 4 dan 6) Chartered Bank (see notes 4 and 6)
sebesar Rp 139.997.446.850 dan amounted to Rp 139,997,446,850 and
Rp 85.056.943.320. Rp 85,056,943,320.
Pinjaman bank – Citibank Bank loans - Citibank

Berdasarkan surat perjanjian kredit tanggal 1 Maret Based on the loan agreement dated 1 March 2007,
2007, Perusahaan memperoleh fasilitas bank berupa the Company accepted bank facility such as export
fasilitas ekspor dan impor sebesar USD 2.400.000 and import facility amounting to USD 2,400,000
dengan tingkat suku bunga yaitu biaya pendanaan with interest rate at bank’s cost of fund + 1,5%.
bank + 1,5%.
Per Oktober 2008 ini Perseroan sudah melunasi dan In October 2008, the Company has paid and do not
tidak menggunakan fasilitas ini. Saldo per tanggal use this facility. Balance as of 31 December 2007
31 Desember 2007 sebesar Rp 30.809.108.944. amounted to Rp 30,809,108,944.
Berdasarkan perubahan perjanjian Export Credit Based on Amendment of Export Credit Financing
Financing Agreement dan Revolving Credit Agreement, Revolving Credit Agreement (Pre-
Agreement (Pre -Shipment Financing), tanggal 26 Shipment Financing) dated 26 November 2008, the
November 2008 perusahaan mendapat fasilitas company accepted total combined facility increased
gabungan sebesar USD 8.500.000 yang berlaku to USD 8,500,000 which is valid until March 01,
sampai dengan 01 Maret 2010. 2010.
Jaminan paripassu berupa persediaan dan piutang The paripassu collateral consist of inventories and
usaha dengan total USD 9.000.000 telah ditarik trade receivable with total amount of USD
kembali ditahun 2008 sesuai dengan surat masing- 9,000,000 has been withdrawn in 2008 based on
masing bank yaitu Citibank, HSBC, Bangkok Bank letters from Citibank, HSBC, Bangkok Bank dan
dan Standard Chartered Bank (lihat catatan 4 dan 6). Standard Chartered Bank (see notes 4 and 6).
sebesar Rp 31.981.525.765 dan Rp 29.491.009.658. amounted to Rp 31,981,525,765 and
Rp 29,491,009,658.
38
Pinjaman bank – Bangkok Bank Jakarta Bank loans – Bangkok Bank Jakarta
Perusahaan Company
Berdasarkan surat perjanjian kredit No. 03/IV/06 Based on the loan agreement No.03/IV/06 dated
tanggal 20 April 2006 dengan bunga SIBOR+2,25% 20 April 2006 with interest rate at SIBOR+2,25%
per tahun dengan jangka waktu 20 April 2006 per annum for the period from 20 April, 2006 until
sampai dengan 31 Maret 2007, dan diperpanjang 31 March 2007, and amended with Loan Agreement
melalui surat perjanjian kredit No. 79/VIII/08 No. 79/VIII/08 dated 17 September 2008 for the
tanggal 17 September 2008 dengan periode waktu period from 31 March 2008 – 31 March 2009, the
31 Maret 2008 – 31 Maret 2009, Perusahaan Company obtained credit facilities such as:
memperoleh fasilitas kredit berupa:
Fasilitas berupa packing loan dan Sight Letter of Facility reperesents packing loan and Sight Letter
Credit sebesar USD 5,000,000 dan Bills of Credit amounting to USD 5,000,000 and Bills
receivable under Letter of Credit (the BRL) Receivable under Letter of Credit (the BRL)
sebesar USD 2,000,000. amounting to USD 2,000,000.
masing-masing sebesar Rp 56.665.051.632 dan amounted to Rp 56,665,051,632 and
Rp 38.101.399.716. Rp 38,101,399,716.
Berdasarkan surat perpanjangan kredit Based on addendum letter credit No. 02/IV/06 from
No. 02/IV/06 dari Bangkok Bank, Jakarta pada Bangkok Bank, Jakarta on 20 April 2006, the
tanggal 20 April 2006, Perusahaan menerima Company accepted credit facilities comprising of:
fasilitas kredit yang terdiri dari: fasilitas lini L/C combined L/C lines facility, bills receivable under
gabungan fasilitas tagihan piutang dengan jaminan L/C facility and foreign exchange.
L/C dan fasilitas transaksi mata uang asing
Perjanjian telah diperpanjang dengan surat Based on addendum letter No. 83/VIII/08 from
No. 83/VIII/08 dari Bangkok Bank Jakarta pada Bangkok Bank, Jakarta on 17 September 2008, the
tanggal 17 September 2008 perusahaan mendapat company accepted increase of credit facility
kenaikan fasilitas kredit (revolving lo an) dengan (revolving loan with maximum credit as follows:
batas maksimum sebagai berikut fasilitas lini L/C combined L/C lines facility in the aggregate amount
gabungan sebesar USD 3.000.000, fasilitas tagihan of USD 3,000,000, bills receivable under L/C facility
piutang dengan jaminan L/C sebesar USD in the amount of USD 1,500,000 and effective since
1.500.000 dan mulai berlaku sejak penandatangan the contract signed. While facility of transaction
surat perjanjian tersebut. Sedang fasilitas transaksi foreign exchange extended on letter No. 86/VIII/08.
mata uang asing diperpanjang dengan surat The maturity date for both of these letters are
No. 86/VIII/08. Keduanya jatuh tempo pada tanggal 31 March 2009.
31 Maret 2009.
Jaminan paripassu berupa persediaan dan piutang The paripassu collateral consist of inventories and
usaha dengan total USD 9.000.000 telah ditarik trade receivables with total amount of USD
kembali ditahun 2008 sesuai dengan surat masing- 9,000,000 has been withdrawn in 2008 based on the
masing bank yaitu Citibank, HSBC, Bangkok Bank letters from Citibank, HSBC, Bangkok Bank dan
dan Standard Chartered Bank (lihat catatan 4 dan Standard Chartered Bank (see notes 4 and 6).
6).
39
Pinjaman bank – Bangkok Bank Jakarta Bank loans – Bangkok Bank Jakarta (continued)
(lanjutan)
Saldo per tanggal 31 December 2008 dan 2007 Balance as of 31 December 2008 and 2007
Rp 16.969.926.433. Rp 16,969,926,433..
Pinjaman bank – Bank Internasional Indonesia Bank loans – Bank Internasional Indonesia

Berdasarkan Offering Letter terakhir Based on the latest Offering Letter
No.S.2008.0690/DIRCorp-korporasi tanggal 23 No.S.2008.0690/DIRCorp-korporasi dated 23 June
Juni 2008 dengan periode waktu sampai dengan 12 2008 with the period until 12 March 2009, the
Maret 2009, Perusahaan memperoleh struktur Company obtained credit facilities as follows :
pinjaman sebagai berikut :
 LC/SKBDN Line sebesar USD 5,000,000. LC/SKBDN (local letter of credit) Line in the
amount of USD 5,000,000.
 Negotiation line sebesar USD 4,000,000. Negotiation line amounting to USD 4,000,000.
 FX Line (TOM, SPOT, Forward, Option dan FX Line (TOM, SPOT, Forward, Option and
Derivative) sebesar USD 1,000,000. Derivative) in the amount of USD 1,000,000.
Bunga pinjaman adalah sebagai berikut: Interest rates are as follow :

 untuk TR, negosiasi eksport adalah 7.25% per For TR, export negotiation is 7.25% per annum
tahun
 untuk UPAS adalah financing bank interest rate For UPAS is financing bank interest rate + 1.5%
+ 1,5% per tahun per annum
Rp 19.687.496.690. Rp 19,687,496,690.
Berdasarkan surat penegasan kredit PT Bank Based on confirming letter of credit from PT Bank
Internasional Indonesia, Jakarta tertanggal 6 April International Indonesia, Jakarta on 6 April 2004
2004 No. 2004.027/DIR4 - Transaksional, No. 2004.027/DIR4-Transaksional, the Company
Perusahaan menerima fasilitas kredit ekspor impor accepted export and import credit facility and sight
serta fasilitas negoisasi wesel ekspor jenis sight export draft negotiation facility amounting to
masing-masing sebesar USD 2.000.000, fasilitas USD 2,000,000 and forward transaction facility to
transaksi forward jual beli USD/IDR sebesar buy or sale USD/IDR amounting to USD 1,000,000.
USD 1.000.000.
40
Pinjaman bank – Bank Internasional Indonesia Bank loans – Bank Internasional Indonesia
PT Pancaprima Ekabrothers (Anak Perusahaan) The company
Perjanjian kredit telah beberapa kali mengalami The credit agreement has been amended for several
perubahan terakhir dengan perjanjian kredit times and the latest amendment
No. 0107/Prb KC/SCBC Juanda/2008 tanggal No.0107/Prb KC/SCBC Juanda/2008 dated
19 Agustus 2008 bahwa Bank memberikan fasilitas 19 August 2008, which that the Bank gives Letter of
Letter of Credit (L/C Line) dan Surat Berdokumen Credit (L/C Line) facility and the local L/C (
Dalam Negeri (SKBDN), L/C atas Unjuk dan L/C SKBDN) in the form of Sight and Usance L/C,
Berjangka (Sight dan Usance) serta, fasilitas negotiation line and forward transaction facilities
negosiasi ekpor dokumen serta fasilitas transaksi with limit amount of USD 3,000,000 ,
forward jual beli masing dengan limit sebesar USD 4,000,000 and USD 1,000,000.
USD 3.000.000, USD 4.000.000 dan
USD 1.000.000.
Perpanjangan terakhir telah dilakukan dengan The credit agreement has been extended for several
No. 0117/PPJPK/SCBCJuanda/2008 dan berlaku times and the latest amendment
mulai 19 September 2008 sampai dengan 12 Maret No. 0117/PPJPK/SCBCJuanda/2008, which was
2009. valid from 19 September 2008 until 12 March 2009
sebesar Rp 16.266.064.911 dan amounted to Rp 16,266,064,911 and
Rp 14.116.008.805. Rp 14,116,008,805.
Pinjaman bank – Bank Mizuho Indonesia Bank loans – Bank Mizuho Indonesia

Berdasarkan surat perjanjian kredit Based on The Loan Agreement
No. 1016/BBA/MZH/1207 tanggal 27 Desember No. 1016/BBA/MZH/1207 dated 27 December 2007
2007 dan diperpanjang dengan surat perjanjian and amended with Loan Agreement
No.871/AMD/MZH/1208 tanggal 26 Desember No.871/AMD/MZH/1208 dated 26 December 2008,
2008, Perseroan memperoleh fasilitas kredit dari the Company obtained credit facilities from Bank
Bank Mizuho berupa : Mizuho, such as :
 Fasilitas impor berupa sight and usance L/C  Import facility represents sight and usance L/C
facility dengan plafon sebesar USD 1,500,000. facility with maximum credit amounting to
USD 1,500,000.
 Fasilitas ekspor berupa bills bought facility  Export facility represents bills bought facility
sebesar USD500,000 amounting to USD 500,000.
 Fasilitas valuta asing.  Foreign exchange facility.
Bunga pinjaman SIBOR plus 2% per tahun. Periode Loan interest rate is SIBOR plus 2% per annum.
fasilitas adalah 26 Desember 2008 sampai dengan The facility period is from 26 December 2008 to
24 Desember 2009. 24 December 2009.
Rp 9,186,088,192.
41
Pinjaman bank – Bank Mizuho Indonesia Bank loans – Bank Mizuho Indonesia
PT Pancaprima Ekabrothers (Anak Perusahaan) PT Pancaprima Ekabrothers (subsidiary)
Perusahaan menerima fasilitas pinjaman jaminan The Company accepted guarantee import credit
aksep impor dan fasilitas Pembelian Tagihan L/C facility and Bills Bought L/C with ceiling amounted
dengan jumlah plafon masing-masing sebesar to USD 1,500,000 and USD 500,000 respectively,
USD 1.500.000 dan USD 500.000.
Perjanjian ini telah diperpanjang berdasarkan surat These agreements were extended based on the letter
perpanjangan No. 877/AMD/MZH/1208, and No. 877/AMD/MZH/1208,
No. 878/AMD/MZH/1208 dan No. 878/AMD/MZH/1208 and
No. 879/AMD/MZH/1208 tanggal 26 Desember No. 879/AMD/MZH/1208 dated 26 December 2008
2008 dan berlaku sampai dengan 24 Desember which is valid until 24 December 2009
2009.
Saldo per 31 Desember 2008 dan 2007 sebesar Balance as of 31 December 2008 and 2007
Rp 10.020.943.418 dan Rp 4.746.174.854. amounted to Rp 10,020,943,418 and
Rp 4,746,174,854.
Pinjaman bank – Standard Chartered Bank Bank loans – Standard Chartered Bank Jakarta
Jakarta

Berdasarkan perjanjian terakhir yaitu No Based on the latest agreement No JKT/ATJ/2501
JKT/ATJ/2501 tanggal 1 September 2008, fasilitas dated 1 September 2008, the credit facility are as
kredit yang di peroleh adalah : follows:
 
asilitas Import USD 2,250,000 dengan suku mport facility USD 2,250,000 with the interest
bunga sebesar biaya pendanaan bank +2.25% rate amounting toBank’s cost of fund +2.25%
per tahun per annum
 
ost shipment yaitu negosiasi LC, D/A, D/P, ost shipment such as LC negotiation, D/A, D/P,
invoice financing sebesar USD 2,000,000, invoice financing amounting to USD 2,000,000,
dengan suku bunga untuk negosiasi sebesar with the interest rate for negotiation at Bank’s
biaya pendanaan bank + 2% per tahun untuk cost of fund +2% per annum for clean document
clean dokumen & 2.5% per tahun untuk & 2.5% per annum for discrepant document.
discrepant dokumen. Suku bunga untuk D/A, Interest rate for D/A, D/P & invoice financing at
D/P & invoice financing sebesar biaya Bank’s cost of fund + 3 % per annum.
pendanaan bank + 3% per tahun
Jangka waktu fasilitas kredit ini sampai dengan This credit facility period is until 15 July 2009.
15 Juli 2009. Saldo per tanggal 31 Desember 2008 Balance as of 31 December 2008 and 2007
dan 2007 sebesar Rp 21.351.159.063 dan amounted to Rp 21,351,159,063 and
Rp 32.252.663.283. Rp 32,252,663,283.
42
Pinjaman bank – Standard Chartered Bank Bank loans – Standard Chartered Bank Jakarta
Jakarta
Sesuai dengan surat Bank Standard Chartered Based on the letters from Standard Chartered Bank
tanggal 2 April 2008 dinyatakan bahwa seluruh dated 2 April 2008 expressing that all loans to
hutang PT Pancaprima Ekabrothers sudah PT Pancaprima Ekabrothers have been settle, so
diselesaikan secara tuntas, dengan demikian seluruh that all collaterals are pulled back.
jaminan ditarik kembali.
Jaminan paripassu berupa persediaan dan piutang The paripassu collateral consists of inventories and
usaha sebesar USD 9.000.000 telah ditarik kembali trade receivables with total amount of USD
di tahun 2008 sesuai dengan surat masing-masing 9,000,000 has been withdrawn in 2008 based on the
bank yaitu Citibank, HSBC, Bangkok Bank dan letters from Citibank, HSBC, Bangkok Bank and
Standard Chartered Bank (lihat catatan 4 dan 6). Standard Chartered Bank (see notes 4 and 6).
Pinjaman bank – Bank Chinatrust Indonesia Bank loans – Bank Chinatrust Indonesia

Berdasarkan perubahan perjanjian kredit terakhir Based on the latest credit facility amendment
No.106/AMEND/IX/2008 tanggal 10 September No.106/AMEND/IX/2008 dated 10 September 2008,
2008, Fasilistas yang di peroleh adalah sebagai the facilities are as follows:
berikut:
 Impor LC, pinjaman jangka pendek, D/A, D/P Import LC, Short term loan, D/A, D/P amounting
sebesar USD2,000,000 to USD2,000,000
 Negosiasi eksport USD1,500,000 Export negotiation amounting to USD 1,500,000
Jangka waktu sampai dengan 10 Oktober 2009. Time period until 10 October 2009.
Rp 22,609,784,485.
Berdasarkan surat penawaran dari Bank Chinatrust Based on offering letter from Bank Chinatrust
Indonesia, Jakarta pada tanggal 4 April 2005, Indonesia, Jakarta on 4 April 2005, the Company
Perusahaan menerima fasilitas kredit omnibus dan obtained omnibus credit facility and export bill
fasilitas negosiasi tagihan ekspor dengan jumlah negotiation facility with the ceiling amounting to
plafon masing-masing sebesar USD 1.500.000 dan USD 1,500,000 and USD 2,000,000, respectively.
USD 2.000.000. Perjanjian ini telah diperpanjang This agreement was amended based on the letter
berdasarkan surat tanggal 25 September 2006 dan dated 25 September 2006 and increasing ceiling
ditingkatkan plafonnya menjadi USD 2.450.000, into USD 2,450,000, which will be due on 10 August
jatuh tempo pada tanggal 10 Agustus 2007 2007.
43
Hutang tersebut telah dilunasi pada tahun 2008. The debts have been paid in 2008.
Berdasarkan perubahan atas perjanjian dengan surat Based on amendment to credit facility agreement
No. 080/AMEND/VIII/2008 tanggal 8 Agustus No.080/AMEND/VIII/2008 dated 8 August 2008, the
2008, Perusahaan menerima fasilitas kredit berupa Company had received export negotiation facility
fasilitas negosiasi ekspor sebesar USD 1.500.000 amounting to USD 1,500,000 and combined limit for
dan gabungan fasilitas pinjaman jangka pendek, short term loan, L/C, trust receipt and export
L/C, akad trust dan fasilitas dokumen yang documents against acceptance and documents
akseptasi dan dokumen pembayaran ekspor total against payment finance with total amount of
USD 1.000.000. USD 1,000,000.
sebesar Nihil dan Rp 10.429.357.763. amounted to Nil and Rp 10,429,357,763.
Pinjaman bank – Bank Permata Bank loans – Bank Permata
Perseroan The Company

Berdasarkan akta notaris Pudji Redjeki Irawati, SH Based on notarial deed of Pudji Redjeki Irawati, SH
No. 89 dan perjanjian transaksi valuta asing No. 89 and foreign exchange loan
No. FX/08/394/N/WB-LC pada tanggal 29 Mei No. FX/08/394/N/WB-LC dated 29 May 2008, the
2008, Perseroan memperoleh fasilitas kredit dari Company obtained credit facilities from Bank
Bank Permata berupa: Permata, represent:
 LC/SKBDN baik sight, usance, pra ekspor  LC/SKBDN (local letter of credit) sight, usance,
maupun Bill Purchase line sebesar pre export and Bill Purchase Line amounting to
USD 5.000.000 USD 5,000,000
 Fasilitas mata uang asing sebesar  Foreign exchange facility in the amount of
USD 1.000.000. USD 1,000,000.
dengan tingkat suku bunga sebesar 7% per tahun. with the interest rate at 7%. p.a. This agreement
Perjanjian kredit ini berjangka waktu 1 tahun mulai was valid for 1 year starting from 29 May 2008 until
29 Mei 2008 sampai dengan 29 Mei 2009. 29 May 2009.
Saldo per tanggal 31 Desember 2008 sebesar Balance as of 31 December 2008 amounted to
Rp 29.078.809.817. Rp 29,078,809,817.
44
14. Hutang usaha 14. Trade payables

Terdiri dari : Consist of :
31 Des 2008 31 Des 2007

31 Dec 2008 31 Dec 2007
Hutang usaha pada pihak ketiga : Trade payables to third parties :
Liphone Enterprise 19.421.874.621 8.684.849.138 Liphone Enterprise

PT Indonesia Taroko Textile 11.781.671.189 17.757.703.174 PT Indonesia Taroko Textile
Formosa Taffeta Co. Ltd. 9.494.397.562 12.187.744.247 Formosa Taffeta Co. Ltd.
GFT Interprise Co.Ltd 6.693.195.007 2.614.750.080 GFT Interprise Co. Ltd
PT YKK Indonesia 5.893.268.554 3.951.881.730 PT YKK Indonesia
Prefash Wear Cemerlang 4.299.501.216 - Prefash Wear Cemerlang
Budi Muara Tex 3.947.858.666 1.626.564.827 Budi Muara Tex
PT Kahatex 3.901.373.775 4.677.598.647 PT Kahatex
PT Dumi Garmindo 3.882.633.023 4.436.635.266 PT Dumi Garmindo
Primatex Int’l Co. Ltd., Taiwan 3.752.547.854 5.113.593.496 Primatex Int’l Co. Ltd., Taiwan
Little King Industries Co. Ltd 3.488.344.070 2.280.928.776 Little King Industries Co. Ltd
South Island Garment 3.438.183.067 2.809.631.752 South Island Garment
Darmawan 3.111.508.752 3.111.508.752 Darmawan
PT Pacific Cemerlang 2.647.130.306 2.278.717.860 PT Pacific Cemerlang
Jalino Industrial Co, Ltd, Taiwan 2.433.700.302 2.577.557.575 Jalino Industrial Co, Ltd, Taiwan
Everest Textile Co, Ltd 2.955.823.590 1.760.811.277 Everest Textile Co, Ltd
Texmaco Jaya 2.270.837.781 1.978.856.499 Texmaco Jaya
Singlong Industrial 1.793.330.243 1.865.582.353 Singlong Industrial
EveryDennison 1.748.323.414 - EveryDennison
Promax 1.727.457.883 1.349.210.723 Promax
Fu Shun Fiber Ind. Co Ltd Taiwan 1.639.686.761 1.367.101.879 Fu Shun Fiber Ind. Co Ltd Taiwan
Fountain Set 1.428.404.211 - Fountain Set
Button Int’ L Co., Ltd, Taiwan 1.380.649.378 1.404.282.397 Button Int’ L Co., Ltd, Taiwan
Tapak Mutiara 1.306.681.896 - Tapak Mutiara
Shinwa Bumi 1.352.362.285 2.147.077.947 Shinwa Bumi
Satyamitra Kemas Lestari 1.345.419.711 1.056.788.696 Satyamitra Kemas Lestari
Pelangi Elasindo 1.319.315.542 2.359.731.403 Pelangi Elasindo
Menchuen Fibre Ind. Menchuen Fibre Ind.
Co Ltd Taiwan 1.301.449.548 2.070.621.566 Co Ltd Taiwan
Man Lung Textile 1.293.021.122 1.824.072.449 Man Lung Textile
Ideal Fastener 1.241.731.682 2.449.421.866 Ideal Fastener
Dennis on Transcoceanic Soabar 1.218.257.235 - Dennison Transcoceanic Soabar
Oxley Threads 1.151.970.112 - Oxley Threads
Gunze Indonesia 1.094.367.309 2.536.162.165 Gunze Indonesia
Smart Time 1.010.318.568 2.875.305.319 Smart Time
PT Sari Warna Asli 293.151.195 1.160.684.005 PT Sari Warna Asli
Triple A - 7.199.070.092 Triple A
Pegasus Sewing - 2.748.654.220 Pegasus Sewing
Amman/Ackermann.T - 3.015.532.566 Amman/Ackermann.T
Tootal Thread Indonesia - 2.242.993.093 Tootal Thread Indonesia
Sue’s International Corp, Ta iwan - 1.653.157.049 Sue’s International Corp, Taiwan
Jumlah dipindahkan 117.059.747.430 119.174.782.884 Total carried forward
45
46

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PT Pan Brothers Tbk dan Anak Perusahaan/

Laporan Keuangan Konsolidasian

beserta Laporan Auditor Independen/

Laporan Auditor Independen/ Independent Auditor’s Report

Laporan keuangan konsolidasian/ Consolidated financial statements

Neraca konsolidasian/ Consolidated balance sheets 1-2

Catatan atas laporan keuangan konsolidasian/ Notes to consolidated financial statements 6 - 66

(Dalam Rupiah) (In Rupiah)

Aktiva lancar Current assets

Jumlah aktiva lancar 711.367.252.590 660.473.556.224 Total current assets

Akti va tidak lancar Non current assets

Investasi jangka panjang 566.000.000 2h, 10 566.000.000 Long term investment

Aktiva tetap setelah dikurangi 2i, 11 Fixed assets net of

Aktiva lain-lain 12.716.882.619 2j, 12 8.016.580.064 Other assets

Jumlah aktiva 952.742.296.102 833.092.974.381 Total assets

(Dalam Rupiah) (In Rupiah)

HAK MINORITAS 411.914.098 20 550.478.352 MINORITY INTERESTS

(Dalam Rupiah) (In Rupiah)

Beban operasi Operating expenses

Pendapatan (beban) lain-lain Other income (expenses)

(Dalam Rupiah) (In Rupiah)

Saldo per 1 Januari 2007/

Pembayaran dividen 2006 / 22

Laba bersih tahun berjalan

Saldo per 31 Desember 2007/

Cadangan umum/General reserves 29 - - 3.000.000.000 (3.000.000.000) -

Pelunasan saldo laba ditentukan

Laba (rugi) bersih tahun berjalan

Saldo per 31 Desember 2008/

(Dalam Rupiah) (In Rupiah)

Kas bersih yang dipergunakan Net cash provided used in

(Dalam Rupiah) (In Rupiah)

b. Susunan pengurus b. Board of commissioners and directors

Direksi Board of Directors

Komite Audit Audit Committee

c. Anak perusahaan c. Consolidated subsidiary

PT Pancaprima Tangerang, Industri garmen/ 99,56% 99,00% 1988 612.763.922.232 542.379.348.816

(Dalam Rupiah) (In Rupiah)

c. Anak perusahaan (lanjutan) c. Consolidated subsidiary (continued)

Pemegang saham Perusahaan melalui Rapat The Company’s shareholders, in an

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

d. Penawaran umum saham perusahaan d. Public offering of company’s shares

(Dalam Rupiah) (In Rupiah)

b. Prinsip konsolidasian b. Principles of consolidation

c. Transaksi dan penjabaran laporan c. Foreign currency transactions and translation

(Dalam Rupiah) (In Rupiah)

c. Transaksi dan penjabaran laporan c. Foreign currency transactions and translation

18-03-2009 31-12-2008 31-12-2007

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

Penyisihan persediaan usang ditentukan Allowance of obsolete inventories are

(Dalam Rupiah) (In Rupiah)

2. Kebijakan akuntansi(lanjutan) 2. Summary of significant accounting policies

g. Biaya dibayar dimuka g. Prepaid expenses

i. Aktiva tetap - pemilikan langsung i. Fixed assets – direct acquisition

(Dalam Rupiah) (In Rupiah)

2. Kebijakan akuntansi(lanjutan) 3. Summary of significant accounting policies

j. Beban tangguhan j. Deferred charges

k. Sewa guna usaha k. Leases

(Dalam Rupiah) (In Rupiah)

2. Kebijakan akuntansi(lanjutan) 2. Summary of significant accounting policies

k. Sewa guna usaha (lanjutan) k. Leases (continued)

l. Transaksi hubungan istimewa l. Related parties transactions