1Q_2013_DSFI_Dharma Samudera Fishing Industries Tbk

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk AND SUBSIDIARIES DAN ANAK PERUSAHAAN/ AND

LAPORAN KEUANGAN KONSOLIDASIAN / CONSOLIDATED FINANCIAL STATEMENTS UNTUK PERIODE TIGA BULAN YANG BERAKHIR/ FOR PRIOD TREE MONTHS ENDED 31 MARET 2013 (TIDAK DIAUDIT) DAN 31 DESEMBER 2012 (DIAUDIT)/ 31 MARCH 2013 (NON AUDITED) AND 31 DECEMBER 2012 (AUDITED)

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PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk DAN ANAK PERUSAHAAN LAPORAN POSISI KEUANGAN KONSOLIDASIAN UNTUK PERIODE TIGA BULAN YANG BERAKHIR TANGGAL 31 MARET 2013 (TIDAK DIAUDIT) DAN 31 DESEMBER 2012 (DIAUDIT)

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 31 MARCH 2013 (NON AUDITED) AND 31 DECEMBER 2012 (AUDITED)

D AF TA R I SI

CONTENTS

Directors’ Statement

Pernyataan Direksi

Ekshibit/ Exhibit Independent Auditors’ Report

Laporan Auditor Independen

Laporan Posisi Keuangan Konsolidasian

A

Consolidated Statements of Financial Position

Laporan Laba Komprehensif Konsolidasian

B

Consolidated Statements of Comprehensive income

Laporan Perubahan Ekuitas Konsolidasian

C

Laporan Arus Kas Konsolidasian

D

Consolidated Statements of Cash Flows

Catatan atas Laporan Keuangan Konsolidasian

E

Notes to Consolidated Financial Statements

Consolidated Statements of Changes in Equity





































These Consolidated Financial Satatements are Originally Issued in Indonesian Language

Exhibit A

Ekshbit A

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk


DAN ENTITAS ANAK

AND SUBSIDIARIES

LAPORAN POSISI KEUANGAN KONSOLIDASIAN

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

31 MARET 2013 (TIDAK DIAUDIT) DAN 31 DESEMBER 2012 (DIAUDIT)

31 MARCH 2013 (UNAUDITED) AND 31 DECEMBER 2012 (AUDITED)

(disajikan dalam Rupiah, kecuali dinyatakan lain)

(expressed in Indonesian Rupiah, unless otherwise otherwise stated)

A S E T

Catatan/

31 Maret /

31 Desember /

Notes

March

December

2013

2012

A S S E T S Current Assets

Aset Lancar Kas dan bank

2,4,29

1.803.313.518

2.525.100.943

2,9

1.920.721.248

1.884.647.837

37.852.921.280

28.248.564.600

Cash on hand and in banks

Piutang usaha

Trade receivables

Pihak berelasi Pihak ketiga - setelah dikurangi cadangan kerugian penurunan nilai sebesar Rp 301.204.089 tahun 2012

Third parties - net of allowance for

5,29

Piutang lain-lain - pihak ketiga Persediaan

2,6

Biaya dibayar di muka Pajak dibayar di muka Uang muka

Related party impairment losses of Rp 301,204,089 at 2012

192.521.765

205.649.000

57.477.755.759

60.287.397.434

Other receivables - third parties Inventories Prepaid expense

767.772.366

788.316.494

2,7

1.477.304.858

1.840.876.981

Prepaid tax

2,8

7.006.449.405

5.856.251.317

Advance payments

108.498.760.199

101.636.804.606

Total Current Assets

Jumlah Aset Lancar

Non - Current Assets

Aset Tidak Lancar Aset pajak tangguhan

-

2,27

-

Deferred tax assets

Aset tetap - setelah dikurangi

Property, plant and equipment - net

akumulasi penyusutan sebesar

of accumulated depreciation of

Rp 75.100.826.149 tahun 2013 (2012 : Rp 73.410.713.758)

Rp 73,410,713,758 in 2013

2,10

97.828.322.385

99.499.116.028

(2012: Rp 73,410,713,758)

2,11

18.639.351.290

18.639.351.290

Assets not used in in operations

2.582.571.942

2.582.571.942

Other non-current assets

Jumlah Aset Tidak Lancar

119.050.245.617

120.721.039.260

Total Non-Current Assets

JUMLAH ASET

227.549.005.816

222.357.843.866

TOTAL ASSETS

Aset yang tidak digunakan dalam usaha Aset tidak lancar lainnya

12

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir yang merupakan bagian yang tidak terpisahkan dari Laporan Keuangan Konsolidasi secara keseluruhan

See accompanying Notes to Consolidated Financial Statements on Exhibit E which are an integral part of the Consolidated Financial Statements taken as a whole



















These Consolidated Financial Satatements are Originally Issued in Indonesian Language Exhibit A/2

Ekshbit A/2



DAN ENTITAS ANAK

AND SUBSIDIARIES

LAPORAN POSISI KEUANGAN KONSOLIDASIAN

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

31 MARET 2013 (TIDAK DIAUDIT) DAN 31 DESEMBER 2012 (DIAUDIT)

31 MARCH 2013 (UNAUDITED) AND 31 DECEMBER 2012 (AUDITED)


(expressed in Indonesian Rupiah, unless otherwise otherwise stated)

LIABILITAS DAN EKUITAS

31 Maret /

31 Desember /

Catatan/

March

December

Notes

2013

2012

Current Liabilities

Liabilitas Lancar

Trade payables

Utang usaha Pihak ketiga

14,29

15.365.475.549

Pihak-pihak berelasi

2,9,14

15

15.003.275.800

Third parties

3.000.000.000

3.000.000.000

Related parties

6.060.588.320

6.683.697.188

Third parties

17

1.161.351.440

558.879.680

Accrued expenses

2,18

25.424.960

23.812.984

Current taxes liabilities

2,13,29

1.603.665.900

2.136.516.000

27.216.506.169

27.406.181.652

Other payables

Utang lain-lain Pihak ketiga Biaya harus dibayar Utang pajak

LIABILITIES AND EQUITY LIABILITIES

LIABILITAS

Liabilitas tidak lancar yang jatuh tempo Current maturities of long-term debt

dalam satu tahun Utang bank

Jumlah Liabilitas Lancar

Liabilitas pajak tangguhan

Other payables 29.303.596.163

2,9 2,27

27.850.219.859

9.921.389.915

9.026.839.407

Related parties Deferred tax liabilities Long-term debt - net of current maturities

Liabilitas tidak lancar - setelah dikurangi bagian yang jatuh waktu dalam setahun

Total Current Liabilities Non-Current Liabilities

Liabilitas Tidak Lancar Utang lain-lain Pihak-pihak berelasi

Bank loans

2,13,29

72.869.312.100

Bank loans

1.004.135.608

779.135.608

Post-employment benefits obligation

Jumlah Liabilitas Tidak Lancar

113.098.433.785

110.401.247.874

Total Non-Current Liabilities

Jumlah Liabilitas

140.314.939.954

137.807.429.526

Total Liabilities

Liabilitas manfaat karyawan

72.745.053.000

2,16

EQUITY

EKUITAS

Equity attributable to owners of

Ekuitas yang dapat diatribusikan kepada pemilik

the parent entity

entitas induk

Share capital - par value Rp 100 per share

Modal saham - nilai nominal Rp 100 per saham

Authorized - 4,000,000,000 shares

Modal dasar - 4.000.000.000 saham

Issued and fully paid-in

Modal ditempatkan dan disetor penuh - 1.857.135.500 saham

19

Tambahan modal disetor - bersih

20

Cadangan lainnya Surplus revaluasi Defisit

21

185.713.550.000

185.713.550.000

1,857,135,500 shares Additional paid-in capital - net

18.433.570.833

18.433.570.833

7.808.832.626

7.808.832.626

Other reserve

39.038.795.776

39.038.795.776

Surplus of revaluation

(

163.910.091.853) 87.084.657.382

(

166.593.743.376)

Deficits

84.401.005.859

Kepentingan Non Pengendali

149.408.481

149.408.481

Jumlah Ekuitas

87.234.065.863

84.550.414.340

Total Equity

JUMLAH LIABILITAS DAN EKUITAS

227.549.005.816

222.357.843.866

TOTAL LIABILITIES AND EQUITY

Lihat Catatan atas Laporan Keuangan Konsolidasi pada Ekshibit E terlampir

Non-Controling Interest

See accompanying Notes to Consolidated Financial Statements on Exhibit E



















These Consolidated Financial Satatements are Originally Issued in Indonesian Language Exhibit B

Ekshbit B


PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk DAN ENTITAS ANAK

AND SUBSIDIARIES

LAPORAN LABA RUGI KOMPREHENSIF KONSOLIDASIAN

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR PRIOD TREE MONTHS ENDED 31 MARCH 201 3 AND

UNTUK PERIODE TIGA BULAN YANG BERAKHIR PADA

31 MARCH 2012 (UNAUDITED)

TANGGAL-TANGGAL 31 MARET 2013 DAN 31 MARET 2012 (TIDAK DIAUDIT)

(expressed in Rupiah, unless otherwise stated)

(disajikan dalam Rupiah, kecuali dinyatakan lain) Catatan/

Notes

2013

2012

Penjualan

82.631.802.442

2,9,22

67.725.606.387

Sales

Beban penjualan

70.378.155.713

2,23,24

57.576.248.281

Cost of sales

10.149.358.106

Gross profit

12.253.646.729

Laba kotor Beban usaha

Operating expense

Beban penjualan

4.338.569.287

2,25

3.343.558.242

Selling expenses

Beban umum dan administrasi

2.603.527.536

2,25

2.087.224.661

General and administrative expenses

Laba dari usaha

6.942.096.823

5.430.782.903

5.311.549.906

4.718.575.203

Profit from operations

6.462.861

Interest income

Pendapatan bunga

2.061.171

Beban bunga

(

1.456.748.976)

Biaya bank

(

202.276.845)

Penghapusan piutang

26

-

(

1.225.738.409)

(

189.554.725)

Bank expenses

(

282.884.240)

Writee off receivable

44.944.456

Laba (Rugi) selisih kurs

Interest expenses

32.062.119

Loss on foreign exchange Gain (loss) on sale of property,

-

Laba ( rugi) atas penjualan aset tetap (

Beban lainnya

Laba sebelum manfaat manfaat pajak

0

10

121.327.682)

3.578.202.030

plant and equipment

0

Other expenses

3.058.922.809

Profit before income tax benefit

Manfaat pajak penghasilan

Income tax benefit -

Kini

-

Tangguhan

(

894.550.508)

Jumlah manfaat pajak penghasilan

(

894.550.508)

Laba tahun berjalan

27

2.683.651.523

Current

(

766.735.162)

(

766.735.162)

Total benefit income tax

2.292.187.647

Profit for the years Other comprehensive income

Pendapatan komprehensif lain Surplus revaluasi

-

Pajak tangguhan atas surplus revaluasi

-

27

-

Surplus of revaluation

-

Deferred tax to surplus of revaluation

Other Comprehensive income

Pendapatan komprehensif lain -

tahun berjalan setelah pajak

-

for the years - net of tax

Total comprehensive income

Jumlah laba komprehensif pada

tahun berjalan

Deferred

2.683.651.523

2.292.187.647

for the years Total comprehensive income attributable to:

Jumlah laba komprehensif yang diatribusikan kepada: Pemilik entitas induk

2.683.651.523

Kepentingan non-pengendali

Jumlah

2.292.187.647

2.683.651.523 1,45

Laba per saham

Owner of the parent entity

-

2,28

Non-controlling interest

2.292.187.647

Total

1,23

Earnings per share


See accompanying Notes to Consolidated Financial Statements on Exhibit E

yang merupakan bagian yang tidak terpisahkan

which are an integral part of





































These Consolidated Financial Statements are Originally Issued in Indonesian Language

Exhibit D

Ekshibit D


PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk DAN ENTITAS ANAK

AND SUBSIDIARIES

LAPORAN ARUS KAS KONSOLIDASIAN

CONSOLIDATED STATEMENTS OF CASH FLOWS

UNTUK PERIODE TIGA BULAN YANG BERAKHIR PADA

FOR PRIOD TREE MONTHS ENDED 31 MARCH 20 13 AND 31 MARCH 2012 (UNAUDITED)

TANGGAL-TANGGAL 31 MARET 2013 DAN 31 MARET 2012 (TIDAK DIAUDIT)

(Expressed in Rupiah, unless otherwise stated)

(Disajikan dalam Rupiah, kecuali dinyatakan lain)

2013

2012

CASH FLOWS FROM OPERATING ACTIVITIES

ARUS KAS DARI AKTIVITAS OPERASI Penerimaan dari pelanggan

73.341.777.112

67.899.203.438

Cash receipts from customers Cash paid to:

Pembayaran kas kepada: Pemasok

( 69.078.377.276)

(

58.815.551.513)

Suppliers

Direksi dan karyawan

(

(

2.964.160.766)

Directors and employees

Kas yang dihasilkan operasi

3.730.501.022) 532.898.814

6.119.491.159

2.061.171

6.462.861

Cash receipts from:

Penerimaan kas dari: Penghasilan bunga (

(

1.225.738.409)

(

25.833.750)

Income tax

(

169.696.029)

(

440.376.846)

Others

(

11.656.287)

Net cash flows provided by

Arus kas bersih tersedia dari aktivitas operasi

4.434.005.015

-

-

(

19.318.748)

(

352.267.183)

(

19.318.748)

(

352.267.183)

(Pembayaran) penambahan utang/piutang berelasi

(

279.437.500)

Pembayaran utang bank

(

534.555.300)

(

813.992.800)

318.307.427

(

844.967.835)

4.400.045.259

406.357.427 (

88.050.000)

investing activities

Payment payable related parties Payment bank loans Net cash flows used in

Arus kas bersih digunakan untuk aktivitas

KENAIKAN (PENURUNAN) BERSIH DALAM KAS DAN BANK

Acquisition of property, property, plant and equipment

CASH FLOWS FROM FINANCING ACTIVITIES

ARUS KAS DARI AKTIVITAS PENDANAAN

Pendanaan

Proceeds from sale of property, plant and equipment

Net cash flows used in

Arus kas bersih digunakan untuk aktivitas investasi

operating activities CASH FLOWS FROM INVESTING ACTIVITIES

ARUS KAS DARI AKTIVITAS INVESTASI Penjualan aset tetap Perolehan aset tetap

Interest expenses

956.984.583) 580.064.340

Pajak penghasilan Lain-lain

Interest income Cash (payments) receive for:

(Pembayaran) penerimaan kas untuk: Beban bunga

Cash generated from operations

PENGARUH PERUBAHAN KURS TERHADAP KAS DAN BANK

123.180.411

-

Financing Activities INCREASE ( DECREASE ) IN CASH ON HAND AND IN BANKS EFFECT OF EXCHANGE RATE CHANGES ON CASH AND BANK

KAS DAN BANK PADA AWAL TAHUN

2.525.100.943

564.112.199

CASH ON HAND IN BANKS BANKS AT BEGINNING OF YEARS

KAS DAN BANK PADA AKHIR TAHUN

1.803.313.518

4.964.157.458

CASH ON HAND AND AND IN BANKS AT END OF YEARS


See accompanying Notes to Consolidated Consolidated Financial Statements on Exhibit E




















Exhibit E

Ekshibit E

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 MARET 2013 DAN 31 DESEMBER 2012 2012 (disajikan dalam Rupiah, kecuali dinyatakan lain)

1. U M U M

a. Pendirian Perusahaan

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2013 AND 31 DECEMBER 2012 (expressed in Rupiah, unless otherwise stated)

1. G E N E R

L

a. The Company’s Establishment

PT Dharma Samudera Fishing Industries Tbk (“Perusahaan”) didirikan pada tanggal 2 Oktober 1973 berdasarkan akta Notaris Tan Thong Kie No.3. Akta pendirian ini telah disahkan oleh Menteri Kehakiman Republik Indonesia dengan Surat Keputusan No.Y.A.5/41/9 tanggal 6 Februari 1974, dan diumumkan dalam Lembaran Berita Negara No. 18, Tambahan No. 93 tanggal 1 Maret 1974. Anggaran dasar Perusahaan telah mengalami beberapa kali perubahan, terakhir berdasarkan akta Notaris No. 120 tanggal 23 Mei 2008 oleh Dr. Irawan Soerodjo, SH, Msi., untuk menyesuaikan dengan Undang-Undang No. 40 Tahun 2007 tentang Perseroan Terbatas Ter batas dan mengenai peningkatan modal dasar perseroan. Perubahan anggaran dasar ini telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia Republik Indonesia dengan Surat Keputusan No. AHU-68270.AH.01.02 Tahun 2008, tanggal 23 September 2008.

PT Dharma Samudera Fishing Industries Tbk (the “Company”) was established on 2 October 1973 based on Notarial deed No. 3 of Tan Thong Kie. The deed of establishment was approved by the Ministry of Justice in its Decision Letter No. Y.A.5/41/9 dated 6 February 1974 and was published in the State Gazette No. 18 dated 1 March 1974, Supplement No. 93. The Company’s articles of association has been amended several times, most recently by Notarial deed No. 120 dated 23 May 2008 of Dr.Irawan Soerodjo, SH, Msi., to comply with Company Law No. 40 Year 2007 and increase their sharecapital. The changes of the Company’s articles of association were approved by the Minister of Law and Human Right of the Republic of Indonesia in his Decision Letter No. AHU-68270.AH.01.02 Year 2008 dated 23 September 2008.

Sesuai dengan Pasal 3 anggaran dasar Perusahaan, ruang lingkup kegiatan usaha Perusahaan meliputi bidang perikanan termasuk mengambil, mengolah, menjual serta menjalankan usahausaha di bidang perdagangan hasil perikanan. Perusahaan dan pabriknya berkedudukan di jalan Laks. R.E. Martadinata 1, Tanjung Priok, Jakarta, dan mempunyai cabang-cabang di Kendari dan Kupang, Perusahaan memulai usaha komersial pada tahun 1983.

Based on article 3 of the Company's articles of association, the scope of its activities is to engage in the fishery, including catching, processing, selling and trading fishery products. The Company’s office and plant are located at Jl. Laks. R.E. Martadinata 1, Tanjung Priok, Jakarta and its branches are located in Kendari and Kupang. The Company started its commercial operations in 1983.

b. Penawaran Umum Efek atau Saham Perusahaan

b. Public Offering of the Company’s Shares




















Exhibit E/2

Ekshibit E/2

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 MARET 2013 DAN 31 DESEMBER 2012


1. U M U M (Lanjutan)

b. Penawaran Umum Efek atau Saham Perusahaan (Lanjutan)


1. G E N E R

L (Continued)

b. Public Offering (Continued)

of

the

Company’s

Shares

Pada tanggal 24 Maret 2000, seluruh saham Perusahaan yang ditempatkan dan disetor penuh dan waran seri I telah dicatatkan pada Bursa Efek Jakarta dan Bursa Efek Surabaya.

On 24 March 2000, the Company has listed all its issued and fully paid-in shares and warrants at the Jakarta and Surabaya Surabaya Stock Exchanges.

Pada Rapat Umum Luar Biasa Pemegang Saham yang diaktakan dengan akta Notaris Dr. Irawan Soerodjo, SH, MSi, No. 46 tanggal 8 Desember 2000, para pemegang saham menyetujui perubahan nilai nominal dari Rp 500 per saham menjadi Rp 100 per saham. Mulai tanggal 22 Januari 2002, saham dan waran seri I Perusahaan diperdagangkan di bursa efek di Indonesia menggunakan nilai nominal Rp 100 per saham. Sehubungan dengan perubahan nilai nominal dari Rp 500 per saham menjadi Rp 100 per saham, maka harga pelaksanaan waran seri I menjadi Rp 180 dan jumlah j umlah waran seri I baru menjadi 5 kali dari jumlah waran seri I lama.

During the Shareholders’ Extraordinary General Meeting which was notarized by Notarial deed No. 46 of Dr. Irawan Soerodjo, SH, SH, MSi., dated 8 December 2000, the shareholders resolved to change the par value of the Company’s shares from Rp 500 per share to Rp 100 per share. Since 22 January 2002, the Company’s shares and warrants series I was re offered at the Indonesian Stock Exchanges at the par value of Rp 100 per share. In accordance with the change of the par value from from Rp 500 to Rp 100 per per share, share, the exercise price of warrants series I becomes Rp 180 and the total number of the new warrants series I becomes 5 times of the number of the old warrants series I.

Pada tanggal 17 Maret 2003, periode perdagangan waran seri I di Bursa Efek Jakarta dan Bursa Efek Surabaya telah berakhir. Tanggal 24 Maret 2003 merupakan tanggal terakhir pelaksanaan waran seri I dan sampai dengan tanggal tersebut, waran seri I yang telah dilaksanakan menjadi saham sejumlah 53.567.750 waran dan sejumlah 71.432.250 waran tidak dilaksanakan.

On 17 March 2003, trade period of warrants series I at Jakarta and Surabaya Stock Exchange has been closed. On 24 March 2003 was the last date for exercising of warrants series I and up to the date, the outstanding warrants series I, which have been exercised to become common shares totaled 53,567,750 warrants and of 71,432,250 warrants have not been exercised.

Pada tanggal 11 Juni 2007, Perusahaan telah

On 11 June 2007, the Company have received an




















Exhibit E/3

Ekshibit E/3





1. G E N E R

L (Continued)

c. Employees, Directors and Commissioners

c. Karyawan, Direksi dan Dewan Komisaris

Based on the minutes of Annual Shareholder’s Meeting No. 82 dated 10 June 2011 that has already been notarized by Notarial deed of Dr. Irawan Soerodjo, SH, MSi, have been made change composition in the Structure of Board of Commisioners and Directors. As of 31 March 2013 and 31 December 2012, the structure of Board of Commisioners and Directors are as follow:

Berdasarkan Rapat Umum Pemegang Saham Tahunan No. 82 tanggal 10 Juni 2011 yang telah diaktakan oleh Notaris Dr. Irawan Soerodjo, SH, Msi, telah dilakukan perubahan Susunan Dewan Komisaris dan Direksi. Pada tanggal 31 Maret 2013 dan 31 Desember 2012, susunan anggota Dewan Komisaris dan Direksi adalah sebagai berikut:

31 March 2013 and 31December 2012

31 Maret 2013 dan 31 Desember 2012

Komisaris Utama Komisaris Independen Direktur Utama/ Direktur Tidak Terafiliasi Direktur

Irwan Sutjiamidjaja Karel Cornelis Komala Johanes Sarsito Herman Sutjiamidjaja Hendra Sutjiamidjaja Saut Marbun

President Commissioner Independent Commissioner Commissioner President Director / Non Affiliated Director Directors

Gaji dan kenikmatan lain untuk komisaris dan direksi Perusahaan pada tahun 2013 sebesar Rp 319.060.200 (2012: Rp 1.377.421.100).

In 2013, salaries and other benefits incurred for the Company’s commissioners and directors totaled to Rp 319.060.200 (2012: Rp 1,377,421,100).

Pada tanggal 31 Maret 2013, Perusahaan memiliki 53 dan 400 (2012: 53 dan 394) karyawan tetap dan karyawan kontrak (tidak diaudit).

As of 31 Maret 2013, the Company had a total of 53 and 400 (2012: 53 and 394) permanent and non permanent employees employees (unaudited).

d. Entitas Anak Kepemilikan Langsung

d. Subsidiaries Direct Ownership






















Exhibit E/4

Ekshibit E/4




1. G E N E R A L (Continued)


d. Subsidiaries (Continued)

d. Entitas Anak (Lanjutan) Kepemilikan Tidak Langsung

Indirect Ownership

Perusahaan memiliki secara tidak langsung atas PT Dobo Biru Harmoni (DBH) melalui PT Kelola Biru Harmoni (KBH), yang berkedudukan di Jakarta dengan bidang usaha perikanan. DBH tersebut berdiri pada tanggal 2 Desember 2008 dan hingga saat ini masih berada dalam tahap pengembangan. Sejak tahun 2011 KBH, entitas anak tersebut sudah tidak aktif. Pada tanggal 31 Maret 2013 dan 31 desember 2012 jumlah aset DBH sebesar Rp 1.000.488.117 (tidak diaudit).

The Company has indirect ownership of PT Dobo Biru Harmoni (DBH) through KBH, which is located in Jakarta and engaged in fishing. DBH was established on 2 December 2008 which is still in the development stage. Since 2011 KBH, a subsidiary is not active. As of 31 Maret 2013 and 31 December 2012, total assets DBH amounted to Rp 1,000,488,117 (unaudited).

2. IKHTISAR KEBIJAKAN AKUNTANSI SIGNIFIKAN

SUM MARY OF SIGNIFICANT ACCOUNTING ACCOUNTING POLICIES POLICIES 2. SUMMARY

Keuangan

a. Basis of Consolidated Financial Statements Presentation

Laporan keuangan konsolidasian telah disusun sesuai dengan Standar Akuntansi di Indonesia (“PSAK”), yang mencakup Pernyataan dan Interpretasi Standar Akuntansi Indonesia

These consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting Standards (“PSAK”), which includes the Interpretations of Financial Accounting Standards

a. Dasar Penyajian Konsolidasian

Laporan




















Exhibit E/5

Ekshibit E/5




AKUNTANSI

SIGNIFIKAN

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Penyajian Laporan a. Dasar Konsolidasian (Lanjutan)

Keuangan

a. Basis of Consolidated Financial Statements Presentation (Continued)

2. IKHTISAR KEBIJAKAN (Lanjutan)

Sejak tanggal 1 Januari 2011 (Lanjutan) •

•

•

Pada saat pengendalian terhadap entitas anak hilang, semua kepentingan yang dimiliki diukur pada nilai wajar dengan laba rugi yang diakui di dalam laporan laba rugi; Pertimbangan keberadaan dan dampak hak suara potensial yang dapat dilaksanakan dan dikonversi, termasuk hak suara potensial yang dimiliki oleh entitas lain, di dalam penilaian pengendalian; Ketika entitas induk mengakuisisi entitas anak sebelum tanggal 1 Januari 2011 yang bertujuan untuk dijual dalam jangka pendek dan entitas anak dengan pembatasan jangka panjang signifikan yang mempengaruhi kemampuan untuk mengalihkan dana kepada entitas induk, entitas induk harus

Since 1 January 2011 (Continued) •

•

•

When control over a subsidiary is lost, any interest retained is measured at fair value with the corresponding gain or loss recognized in profit and loss; Considerations for the existence and effect of potential voting rights that are currently exercisable or convertible, including potential voting rights held by another entity, in assessment of control; When the parent entity have acquired subsidiaries before 1 January January 2011 for the purpose of short-term disposal and subsidiaries with significant long-term restriction that affects the ability to transfer funds to the parent entity, the parent entity shall consolidate these entities in accordance with




















Exhibit E/6

Ekshibit E/6



2. IKHTISAR (Lanjutan)

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

a. Dasar Penyajian Laporan Keuangan Konsolidasian (Lanjutan)


2. SUMMARY OF (Continued)

SIGNIFICANT

a. Basis of Consolidated Presentation (Continued)

ACCOUNTING Financial

POLICIES

Statements

Berikut ini adalah ISAK baru yang berlaku efektif 1 Januari 2012 yang telah diadopsi dan memiliki pengaruh signifikan terhadap laporan keuangan konsolidasian:

The following are are the new ISAK ISAK and ISAK that became effective 1 January 2012 that has been adopted and has significant effect to the consolidated financial statements:

ISAK 25 “Hak atas Tanah”

ISAK 25 "Land Rights"

ISAK 25 “Hak atas Tanah” menjelaskan pengakuan tanah yang diklasifikasikan sebagai aset tetap yang diperoleh melalui Hak Guna Usaha, Hak Guna Bangunan dan Hak Pakai . Isu khusus yang diangkat di dalam interpretasi ini adalah : (1) biaya perolehan tanah melalui Hak Guna Usaha, Hak Guna Bangunan, dan Hak Pakai yang diakui berdasarkan PSAK 16 (Revisi 2011) “Aset Tetap”, (2) biaya tanah yang tidak disusutkan kecuali terdapat bukti yang sebaliknya yang mengindikasikan perpanjangan izin maupun pembaruan izin tidak dimungkinan, (3) biaya awal untuk memperoleh hak legal tanah diakui sebagai bagian dari biaya perolehan tanah, dan (4) biaya-biaya yang berhubungan dengan perpanjangan

ISAK 25 “Land Rights” clarifies the recognition of land classified as property, plant and equipment that acquired through Right of Cultivation (HGU), Building Right and Usage Right. The specific issues addressed by the interpretation are: (1) the cost of the land through Right of Cultivation (HGU), Building Right and Usage Right be recognized in accordance with PSAK 16 (Revised 2011) "Property, plant and equipment", (2) the cost of the land is not depreciated unless there is evidence to the contrary that indicates extension or renewal of rights are not plausible, (3) the initial cost to obtain legal rights to land is recognized as part of the acquisition cost of the land, and (4) costs associated with extension and renewal of rights is




















Exhibit E/7

Ekshibit E/7




SIGNIFIKAN

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Keuangan

a. Basis of Consolidated Financial Statements Presentation (Continued)

Revisian

Adoption of Revised PSAK and Revised ISAK (Continued)

Berikut ini adalah PSAK dan ISAK baru maupun revisian yang berlaku efektif 1 Januari 2012 namun tidak memiliki dampak signifikan terhadap laporan keuangan konsolidasian :

The following are the new or revised PSAK and ISAK thar became effective 1 January 2012 but did not have any significant effect to the consolidated financial statements statements :

PSAK 10 (Revisi 2010)

Pengaruh Perubahan Kurs Valuta Asing Aset Tetap

PSAK 10 (Revised 2010)

Biaya Pinjaman Sewa Pajak Penghasilan Instrumen Keuangan: Penyajian Instrumen Keuangan: Pengakuan dan

PSAK 26 (Revised 2011) PSAK 30 (Revised 2011) PSAK 46 (Revised 2011) PSAK 50 (Revised 2011)


AKUNTANSI

a. Dasar Penyajian Laporan Konsolidasian (Lanjutan) Adopsi PSAK (Lanjutan)

Revisian

PSAK 16 (Revisi 2011) PSAK 26 (Revisi PSAK 30 (Revisi PSAK 46 (Revisi PSAK 50 (Revisi

2011) 2011) 2011) 2011)

PSAK 55 (Revisi 2011)

dan

ISAK



Effects of Changes in Foreign Exchange Rates Property, plant and equipment Borrowing Cost Lease Income Tax Financial Instruments: Presentation Financial Instruments: Recognition and




















Exhibit E/8

Ekshibit E/8




KEBIJAKAN

AKUNTANSI

SIGNIFIKAN



SIGNIFICANT

ACCOUNTING

POLICIES

b. Dasar Konsolidasian

b. Basis of Consolidated Presentation

Kombinasi Bisnis

Business Combination

Kombinasi bisnis dihitung dengan menggunakan metode akuisisi pada tanggal akuisisi, yaitu tanggal pengendalian beralih kepada Perusahaan. Pengendalian adalah kekuasaan untuk mengatur kebijakan keuangan dan kebijakan operasi entitas untuk memperoleh manfaat dari aktivitasnya. Di dalam menilai pengendalian, Perusahaan dan entitas anak mempertimbangkan hak suara potensial yang saat ini dilaksanakan.

Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Company. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, the Company takes into consideration potential voting rights that are currently exercisable.

Imbalan yang dialihkan tidak termasuk jumlah yang terkait dengan penyelesaian pada hubungan yang sebelumnya ada. Jumlah tersebut, umumnya diakui di dalam laporan laba rugi.

The consideration transferred does not include amounts related to the settlement of preexisting relationships. Such amounts are generally recognized in profit or loss.

Biaya-biaya terkait dengan akuisisi, selain yang terkait dengan penerbitan surat utang maupun kepemilikian, yang terjadi dalam kaitan kombinasi

Costs related to the acquisition, other than those associated with the issue of debt or equity securities, that The Company and its subsidiaries incur in

Financial

Statements






















Exhibit E/9

Ekshibit E/9


(disajikan dalam Rupiah, kecuali dinyatakan lain) 2. IKHTISAR (Lanjutan)

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

b. Dasar Konsolidasian (Lanjutan) Kombinasi Bisnis (Lanjutan)

Dalam suatu kombinasi bisnis yang dilakukan secara bertahap, pihak pengakuisisi mengukur kembali kepentingan ekuitas yang dimiliki sebelumnya pada pihak yang diakuisisi pada nilai wajar tanggal akuisisi dan mengakui keuntungan atau kerugian yang dihasilkan dalam laporan laba rugi.

PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2013 AND 31 DECEMBER 2012 (expressed in Rupiah, unless otherwise stated) 2. SUMMARY OF (Continued)

SIGNIFICANT

b. Basis of Consolidated Presentation (Continued)

ACCOUNTING Financial

POLICIES

Statements

Business Combination (Continued)

If the business combination is achieved in stages, the acquisition date fair value of of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date through profit or loss.






















Exhibit E/10

Ekshibit E/10




KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

b. Dasar Konsolidasian (Lanjutan)



SIGNIFICANT

ACCOUNTING

POLICIES

b. Basis of Consolidated Financial Statements Presentation (Continued)

Entitas Anak

Subsidiaries

Entitas anak adalah entitas yang dikendalikan oleh Perusahaan. Laporan keuangan entitas anak termasuk ke dalam laporan keuangan konsolidasian sejak tanggal pengendalian dimulai sampai dengan tanggal pengendalian dihentikan. Kebijakan akuntansi entitas anak diubah apabila dipandang

Subsidiaries are entities controlled by the Company. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries have been changed when necessary to align them with






















Exhibit E/11

Ekshibit E/11




KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

b. Dasar Konsolidasian (Lanjutan) Transaksi yang dieliminasi pada konsolidasi

Saldo dan transaksi antar Perusahaan dan semua pendapatan dan beban yang belum terealisasi yang timbul dari transaksi antar Perusahaan, dieliminasi di dalam penyusunan dan penyajian laporan keuangan konsolidasian. Laba yang belum terealisasi yang timbul dari transaksi dengan entitas asosiasi



SIGNIFICANT

ACCOUNTING

POLICIES

b. Basis of Consolidated Financial Statements Presentation (Continued) Transactions eliminated on consolidation

Inter-Company balances and transactions, and any unrealized income and expenses arising from interCompany transactions, are eliminated in preparing the consolidated financial statements. Unrealized gains arising from transactions with associates are eliminated against the investment to the extent of






















Exhibit E/12

Ekshibit E/12




AKUNTANSI

SIGNIFIKAN

b. Dasar Konsolidasian (Lanjutan) Goodwill (Lanjutan)

Keuntungan atau kerugian pelepasan entitas anak dan entitas asosiasi meliputi nilai tercatat goodwill yang dikapitalisasi terkait dengan entitas yang dijual.


2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) b. Basis of Basis of Consolidated Statements Presentation (Continued)

Financial

Goodwill (Continued)

Gain or losses on disposal of subsidiaries and associates include the carrying amount of capitalized goodwill relating to the entity sold.






















Exhibit E/13

Ekshibit E/13




KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

d. Aset Keuangan Aset keuangan dalam ruang lingkup PSAK 55 (R2011) diklasifikasikan baik sebagai aset keuangan yang diukur pada nilai wajar melalui laporan laba rugi, pinjaman dan piutang, investasi dimiliki hingga jatuh tempo, atau tersedia untuk dijual. Aset keuangan diakui di dalam laporan posisi keuangan konsolidasian, jika dan hanya jika, Perusahaan menjadi entitas provisi kontraktual instrumen



SIGNIFICANT

ACCOUNTING

POLICIES

d. Financial Assets Financial assets within the scope of PSAK 55 (Revised 2011) are classified as either financial assets at fair value through profit or loss, loans and receivables, held-to-maturity investments, or available-for-sale financial assets, as appropriate. Financial assets are recognized in the consolidated statements of financial position when, and only when, the Company becomes a party to the contractual provisions of the financial
























Exhibit E/14

Ekshibit E/14



2. IKHTISAR

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN


2. SUMMARY

OF

SIGNIFICANT

ACCOUNTING

POLICIES
























Exhibit E/15

Ekshibit E/15



2. IKHTISAR

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN


2. SUMMARY

OF

SIGNIFICANT

ACCOUNTING

POLICIES
























Ekshibit E/16



2. IKHTISAR

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

Exhibit E/16 PT DHARMA SAMUDERA FISHING INDUSTRIES Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2013 AND 31 DECEMBER 2012 (expressed in Rupiah, unless otherwise stated)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
























Ekshibit E/17



2. IKHTISAR

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN


























Ekshibit E/18



2. IKHTISAR

KEBIJAKAN

AKUNTANSI

SIGNIFIKAN

































































































































































































































































































































































































































































































































































Exhibit E/54

Ekshibit E/54




2013

US D 1

3 1 Mar et 2 0 1 3

9, 7 27

9,719

3 1 Des . 2 0 1 2

9,670

USD 1

Pada masa mendatang, nilai kurs masih mungkin berubah-ubah, dan mata uang Rupiah mungkin mengalami depresiasi secara signifikan terhadap mata uang lainnya.

In the future, the foreign exchange rates will still fluctuate, and Rupiah has h as a possibility to depreciate or appreciate significantly against other currencies.

Apabila aset bersih dalam mata uang asing pada tanggal 31 Maret 2013 dinyatakan dengan kurs tengah BI, per tanggal 24 April 2013, maka jumlah aset bersih akan turun sebesar Rp 7.151.408.

If net aset denominated in foreign currencies on 31 March 2013 were expressed using BI middle rates as at 24 April 2013, total net aset would decrease by Rp 7,151,408.




















Exhibit E/55

Ekshibit E/55




30. SEGMENT INFORMATION

30. INFORMASI SEGMEN 31 MARET 2013

31 MARCH 2013

Segmen Geografis berdasarkan lokasi aset:

Geographical Segments based on location of assets:

Jak art a/

Kendari /

El i mi nasi /

Juml ah/

Jakarta

Kendari

Elimination

Total

-

-

Penjualan

Ekste rn al

82,631,802,442 -

Antar segmen

82,631,802,442

19,720,860,119

(

19,720,860,119)

19,720,860,119

(

19,720,860,119)

Jakarta/

Kendari/

Eliminasi/

Jumlah/

Jakarta Jakarta

Kendari Kendari

Elimination Elimination

Total Total

5,311,549,906 5,311,549,906

-

-

5,311,549,906 (

1,733,347,876) 3,578,202,031

Laba dari usaha

-

Beban lain-lain Laba sebelum pajak

Laba tahun berjalan

3,578,202,031 (

894,550,508) 2,683,651,523

Jumlah

Income from operations Other charges Income before tax Benefit income tax Total profit for the years

attributable attributable to:

yang diatribusikan kepada :

Kepentingan Kepentingan non-pengendali non-pengendali

Expenses

Total profit for the years

Jumlah laba tahun berjalan

Pemilik entitas induk

Segment Segment income Unallocated

Beban yang tidak

Manfaat pajak pen ghasilan

82,631,802,442

Income

Hasil

dapat dialokasikan

-

2013

2013

Hasil segmen

82,631,802,442

2,683,651,523 2,683,651,523

Owner Owner of the parent entity Non- controlling interest Total




















Exhibit E/56

Ekshibit E/56




30. SEGMENT INFORMATION (Continued)

30. INFORMASI SEGMEN (Lanjutan)

Business Segments

Segmen Usaha 2013

Jakarta/

Kendari/

Eliminasi /

Juml ah/

Jakarta

Kendari

Elimination

Total

Rp

Rp

Rp

Rp

2013

Assets

Aset

As A set se gme n

242,346,191,568

40,640,676,836

-

-

(

60,097,727,128)

222,889,141,276

Segment assets

4,659,864,540

Unallocated assets

Aset yang tidak dapat dialokasikan

-

227,549,005,816 Liabilities

Liabilitas

L ia iabilit as as se se gm gme n

119,507,873,689

64,346,556,369

-

-

(

60,097,727,128)

123,756,702,930

Segment liabilities Unallocated

Liabilitas yang tidak dapat dialokasikan

-

16,558,237,024

liabilities

140,314,939,954 Others segment

Informasi Informasi segmen

information

Lainnya

P e nge lu ar an mo dal

19,318,748

0

-

19,318,748

Capital expenditures Depreciation and

Penyusutan dan amor tisasi

949,730,234

740,382,157

-

amortization

1,690,112,391

Business Segments

Segmen Bisnis

82,631,802,442

Penjualan

-

-

82,631,802,442

Sales Assets

Aset

Aset se gme n

54,511,332,075

-

-

54,511,332,075

Segment assets

173,037,673,741

Unallocated assets


227,549,005,816

Geographical customers

Segmen Geografis berdasarkan lokasi pelanggan

Amerika Serikat/ United Stated of America

Eropa/ Europe

Jepang/ Japan

Segments

Lain-lain (kurang dari 10%)/ Others (each elow 10%)

based

Jumlah/ Total

on

location

of




















Exhibit E/57

Ekshibit E/57





30. INFORMASI SEGMEN (Lanjutan) 31 MARET 2012

31 MARCH 2012

Segmen Geografis berdasarkan lokasi aset:

Geographical Segments based on location of assets:

Jak arta/

Kendari /

El i mi nasi /

Juml ah/

Jakarta

Kendari

Elimination

Total

-

-

Penjualan

Ekster n al

67,725,606,387 -

Antar segmen

67,725,606,387

26,634,636,594

(

26,634,636,594)

26,634,636,594

(

26,634,636,594)

Jakarta/

Kendari/

Elimi nasi /

Jumlah/

Jakarta Jakarta

Kendari Kendari

Elimination Elimination

Total Total

4,718,575,203 4,718,575,203

-

-

4,718,575,203 (

1,659,652,394) 3,058,922,809

Laba dari usaha

-

Beban lain-lain

-

dialokasikan–Bersih

3,058,922,809

Laba sebelum pajak

Laba tahun berjalan

(

766,735,162) 2,292,187,647

Jumlah

Income from operations Other charges

expense-Net Income before tax Benefit income tax Total profit for the years

attributable attributable to:

yang diatribusikan kepada :

Kepentingan non-pengendali

Unallocated expenses

Total profit for the years

Jumlah laba tahun berjalan

Pemilik entitas induk

Segment income

Unallocated

Beban yang tidak dapat

Manfaat pajak penghasilan

67,725,606,387

Income

Hasil

Beban yang tidak dapat dialokasikan

-

2012

2012

Hasil segmen

67,725,606,387

2,292,187,647 2,292,187,647

Owner of the parent entity Non- controlling interest Total




















Exhibit E/58

Ekshibit E/58





30. INFORMASI SEGMEN (Lanjutan)

Business Segments

Segmen Usaha Jak arta/

Kendari/

El i minasi /

Juml ah/

Jakarta

Kendari

Elimination

Total

Rp

Rp

Rp

Rp

Assets

Aset

As e t s e gme n

176,630,324,112

45,512,989,853

-

-

(65,075,826,685)

157,067,487,280

Segment assets

3,820,519,501

Unallocated assets


-

160,888,006,781 Liabilities

Liabilitas

Liab ilitas se s e gme n

83,476,307,565

67,965,011,133

(65,075,826,685)

Segment liabilities

86,365,492,013

Unallocated

Liabilitas Liabilitas yang tidak -

dapat dialokasikan

-

-

35,785,751,019

liabilities

122,151,243,032 Others Others segment

Informasi segmen Lainnya

��

P e n ge lu aran mo dal

95,458,750

256,808,433

-

352,267,183

Capital expenditures Depreciation Depreciation and

Penyusutan dan amo rtisasi

847,997,284

676,400,926

-

amortization

1,524,398,210

Business Segments

Segmen Bisnis

P e n ju alan

67,725,606,387

-

-

Sales

67,725,606,387

Assets

Aset

As e t s e gme n

43,746,526,537

-

-

43,746,526,537

Segment assets

117,141,480,244

Unallocated assets


160,888,006,781

Geographical customers

Segmen Geografis berdasarkan lokasi pelanggan

Amerika Serikat/ United Stated of America America Rp Penjualan

Eropa/ Europe Europe Rp

18.848 18.848.62 .624.3 4.307 07 24.692 24.692.51 .510.8 0.816 16

Jepang/ Japan Japan Rp

7.082. 7.082.641 641.76 .769 9

Segments

Lain-lain (kurang dari 10%)/ Others ( elow 10%) Rp

17.101 17.101.82 .829.4 9.496 96

based

on

location

of

Jumlah/ Total Rp

67.7 67.725. 25.606 606.38 .387 7

Sales






















Exhibit E/59

Ekshibit E/59



31. MANAJEMEN RISIKO KEUANGAN


31. FINANCIAL RISK MANAGEMENT

Aktivitas Perusahaan dan entitas anak mengandung berbagai risiko keuangan seperti risiko kredit, risiko likuditas, risiko pasar, dan risiko pasar lain. Secara keseluruhan, program manajemen risiko keuangan Perusahaan dan entitas anak terfokus untuk menghadapi ketidakpastian pasar uang dan meminimalisasi potensi kerugian yang berdampak pada kinerja keuangan Perusahaan dan entitas anak.

The Company’s and subsidiaries‘ activities are exposed to few financial risks such market risks, credit risks, market risks, and other market risks. The Company’s and subsidiaries‘ overall management program focuses to mitigate to volatility of financial markets and to minimize potential adverse effects on the Company’s and subsidiaries‘ financial performance.

a. Risiko pasar

a. Market risk

Perusahaan dan entitas anak menyadari adanya risiko pasar yang terjadi akibat fluktuasi mata uang Rupiah terhadap US Dolar, serta fluktuasi suku bunga pinjaman, sehingga entitas anak melakukan kontrak lindung nilai dengan tujuan melakukan aktivitas lindung nilai atas ketidakpastian fluktuasi suku bunga dan fluktuasi mata uang asing yang timbul dari arus kas pokok dan bunga pinjaman dari entitas anak.

The Company and subsidiaries are aware of market risk due to foreign exchange fluctuation of Rupiah against US Dollar and interest rate fluctuation, hence, the subsidiaries have entered into hedging contracts to hedge the uncertainty of interest rate and foreign exchange fluctuations arising from the loan principal and interest payments from each subsidiaries.

Risiko Nilai Tukar Mata Uang Asing

Foreign Exchange Risk

Perubahan nilai tukar telah, dan diperkirakan akan terus, memberikan pengaruh terhadap hasil usaha dan arus kas Perusahaan. Beberapa pinjaman dan belanja modal Perusahaan adalah, dan diperkirakan akan terus, didenominasi dengan mata uang Dolar Amerika Serikat. Sebagian besar pendapatan Perusahaan adalah dalam mata uang Rupiah.

Changes in exchange rates have affected and may continue to affect the Company’s results of operations and cash flows. Some of the Company’s debts and capital expenditures are, and expected will continue to be, denominated in US Dollars. Most of the Company’s revenues are denominated in Rupiah.

Pada saat ini, Perusahaan melakukan aktivitas lindung nilai terhadap sebagian dari eksposur atas mata uang asing dikarenakan penerimaan dari pendapatan usaha tahunan dalam mata uang Dolar Amerika Serikat lebih sedikit dibandingkan dengan jumlah pembayaran belanja modal, pinjaman dan

Currently, the Company hedges a portion of its foreign currency exposure principally because the receipts of annual USD-denominated operating revenue were less than the sum of payments of USDdenominated capital expenditures.




















Exhibit E/60

Ekshibit E/60




31. FINANCIAL RISK MANAGEMENT (Continued)

31. MANAJEMEN RISIKO KEUANGAN (Lanjutan)

a. Market risk (Continued)

a. Risiko pasar (Lanjutan)

Foreign Exchange Risk (Continued)

Risiko Nilai Tukar Mata Uang Asing (Lanjutan) Pada tanggal 31 Desember 2012, jika Rupiah melemah 1% terhadap mata uang asing dengan seluruh variabel lain tetap, maka laba periode berjalan lebih rendah Rp 3.760.775.075 (2011: Rp 947.168.554) terutama yang timbul sebagai akibat kerugian selisih kurs atas penjabaran aset dan liabilitas moneter dalam mata uang asing.

As at 31 December 2012, if the Rupiah had weakend by 1% against the foreign currency with all other variables held constant, profit for the period would have been Rp 3,760,775,075 (2011: Rp 947,168,554) lower, mainly as a resut of foreign exchange losses on translation of monetary assets and liabilities denominated in foreign currency. currency.

Profil pinjaman jangka panjang adalah sebagai berikut:

The Company’s long-term liabilities is as follows:

2 0 1 3 USD

2 0 1 2 Rp

US D

Rp

ssets

Aset

Kas Bank Piutang usaha ekspor

240 133,448

2,329,450 1,296,977,807

294 220,667

2,839,886 2,133,849,890

3,787,106

36,806,880,153

2,870,349

27,756,274,830

Cash Banks Trade receivables export

Jumlah

3,920,794

38,106,187,410

3,091,310

29,892,964,606

Total

Utang bank Utang usaha impor

2,562,000

24,900,078,000

2,570,700

24,858,669,000

550,661

5,351,876,444

127,768

1,235,516,560

Liabilities Bank loans Trade payables import

Jumlah

3,112,661

30,251,954,444

2,698,468

26,094,185,560

Total

808,132

7,854,232,966

392,841

3,798,779,046

Net Aset (liability)

Liabilitas

Aset (Liabilitas) bersih




















Exhibit E/61

Ekshibit E/61






a. Market risk (Continued)

a. Risiko pasar (lanjutan)

Interest Rate Risk (Continued)

Risiko Tingkat Suku Bunga (lanjutan) 2013

2012

Utang jangka panjang - setelah dikurangi bagian yang jatuh tempo

Long term debt - net off current portion

dalam waktu satu tahun Utang bank

1,603,665,900 -

Utang lain jangka panjang Jumlah

1,603,665,900

b. Risiko kredit Perusahaan memiliki risiko kredit yang terutama berasal dari simpanan di bank, piutang usaha, piutang lain-lain, piutang derivatif dan aset lainlain - investasi bersih dalam sewa pembiayaan.

Bank loans

2,136,516,000 -

Long term other payables

2,136,516,000

Total

b. Credit risk The Company is exposed to credit risk primarily from deposits with banks, trade receivables, other receivables, derivatives receivables and other assets - net investment in finance lease.

Entitas anak menghadapi risiko kredit dari:

The subsidiaries are exposed to credit risk from:

Kualitas kredit aset keuangan

Credit quality of financial assets

Risiko kredit adalah risiko kerugian keuangan yang timbul jika pelanggan Perusahaan dan entitas anak gagal memenuhi liabilitas kontraktualnya kepada Perusahaan dan entitas anak. Risiko kredit Perusahaan dan entitas anak terutama melekat kepada kas dan setara kas, piutang usaha dan piutang lain-lain. Perusahaan

Credit risk is the risk of financial losses incurred if a customer of the Company and subsidiaries failed to fulfill contractual liability to the Company and subsidiaries. Credit risk the Company and subsidiaries mainly attached to the cash and cash equivalents, accounts receivable and other receivables. The Company puts cash and cash




















Exhibit E/62

Ekshibit E/62






b. Credit risk (Continued)

b. Risiko kredit ( Lanjutan)

Credit quality of financial assets (Continued)

Kualitas kredit aset keuangan ( Lanjutan) 2013

Kas dan bank

1,803,313,518

2012

2,525,100,943

Trade receivables

Piutang usaha Pihak berelasi

1,920,721,248

1,884,647,837

Related parties Third parties- net of allowance for

Pihak ketiga- setelah dikurangi

Impairment

cadangan kerugian penurunan nila nilaii : 2012 2012 sebe sebesa sarr Rp 301.2 01.204 04.0 .089 89

Cash and cash equivalents

Piutang lain-lain

37,8 37,85 52,9 2,921,2 21,280 80 192,521,765

28,2 28,248 48,5 ,564 64,6 ,600 00 205,649,000

Jumlah

41,769,477,811

32,863,962,380

c. Risiko likuiditas

losses of Rp 301,204,089 Other receivables Total

c. Liquidity risk

Risiko likuiditas timbul apabila Perusahaan dan entitas anak mengalami kesulitan dalam mendapatkan sumber pendanaan untuk membiayai modal kerja dan belanja modal. Risiko likuiditas juga dapat timbul akibat ketidaksesuaian atas sumber dana yang dimiliki dengan pembayaran liabilitas yang telah jatuh tempo.

Liquidity risk arises in situations where the Company and subsidiaries have difficulties in obtaining funding sources to fund their working capital and capital expenditure. Liquidity risk also arises in situations where there is mismatch between the funding sources and any obligations that have matured.

Perusahaan dan entitas anak melakukan mitigasi risiko likuiditas dengan cara menganalisa ketersediaan arus kas dan struktur pendanaan sesuai dengan Pedoman Pengendalian Intern Perusahaan.

The Company and subsidiaries mitigate liquidity risk by analyzing the cashflow availability as well as their funding structure in accordance with the Company’s Internal Control Manual.




















Exhibit E/63

Ekshibit E/63






c. Liquidity risk (Continued)

c. Risiko likuiditas (Lanjutan) Perusahaan memonitor proyeksi persyaratan likuiditas untuk memastikan bahwa Perusahaan memiliki saldo kecukupan kas untuk memenuhi keperluan operasi serta menjaga kecukupan dalam fasilitas pinjaman yang belum ditarik sepanjang waktu sehingga Perusahaan memenuhi semua batas atau persyaratan fasilitas pinjaman.

The Company monitors forecasts of the liquidity requirements to ensure that it has sufficient cash to meet operational needs while maintaining sufficient headroom on its undrawn committed borrowing facilities at all times so that the Company does not breach the borrowing limits or covenants on any of its borrowing facilities.

Proyeksi tersebut mempertimbangkan rencana pembiayaan hutang Perusahaan dan kepatuhan persyaratan pinjaman. Manajemen percaya bahwa strategi melakukan cash sweeping dan pooling of funds dari sejumlah rekening bank ke dalam rekening bank operasional utama dapat memastikan pendanaan yang terkonsentrasi dan optimalisasi likuiditas yang lebih baik.

Such forecasting takes into consideration the Company’s debt financing plans and covenant compliance. Management believes that the strategy to manage cash sweeping and pooling of funds across accounts in main operating banks can ensure the better concentration of funds and optimisation of liquidity.

Tabel di bawah menunjukkan analisis jatuh tempo liabilitas keuangan Perusahaan dalam rentang waktu yang menunjukkan jatuh tempo kontraktual untuk semua liabilitas keuangan nonderivatif dan derivatif di mana jatuh tempo kontraktual sangat penting untuk pemahaman terhadap arus kas. Jumlah yang diungkapkan dalam tabel adalah arus kas kontraktual yang tidak terdiskonto (termasuk pembayaran pokok dan bunga).

The following table analyse the Company’s financial liabilities into relevant maturity groupings based on their contractual maturities for all non-derivative financial liabilities and derivative financial instruments for which the contractual maturities are essential for an understanding of the timing of the cash flows. The amounts disclosed in the table are the contractual undiscounted cash flows (including principal and interest payment).

2013

2013

Jatuh tempo/ maturity 2014 dan seterusnya/ 2014 and etc

2013 Jumlah Total






















Exhibit E/64

Ekshibit E/64







c. Risiko likuiditas (Lanjutan)

2012

2012

Jatuh tempo/ maturity 2013 dan seterusnya/ 2013 and etc

Nilai wajar/ Fair value

2,525,100,943 30,133,212,437 205,649,000

Assets Cash on hand and in bannk Trade receivables Other receivables

-

32,863,962,380

Total assets

Aset

Kas dan bank Piutang usaha Piutang lain-lain

2,525,100,943 30,133,212,437 205,649,000 32,863,962,380

Jumlah aset

2011

Liabilitas Utang bank Utang usaha Utang lain-lain Biaya masih harus dibayar Utang lain jangka panjang

2,136,516,000 18,003,275,800 6,683,697,188 558,879,680 -

7 2, 2,745,053,000 27,850,219,859 -

74,881,569,000 45,853,495,659 6,683,697,188 558,879,680 -

Liabilities Bank loans Trade payables Other payables Accrued expenses expenses Other long term payables

Jumlah liabilitas

27,382,368,668

100,595,272,859

127,977,641,527

Total liabilities

100,595,272,859

95,113,679,147

(

5,481,593,712)




















Exhibit E/65

Ekshibit E/65



31. MANAJEMEN RISIKO KEUANGAN (Lanjutan) c. Risiko likuiditas (Lanjutan)


31. FINANCIAL RISK MANAGEMENT (Continued) c. Liquidity risk (Continued)

Estimasi nilai wajar (Lanjutan)

Fair value estimation (Continued)

(d) input untuk aset atau liabilitas yang bukan berdasarkan data pasar yang dapat diobservasi (input yang tidak dapat diobservasi) (tingkat 3).

(d) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (level 3).

Aset dan liabilitas keuangan Perusahaan yang diukur dan diakui pada nilai wajar (tingkat 2) adalah piutang dan utang derivatif.

The Company’s financial assets and liabilities that are measured and recognised at fair value (level 2) are derivative receivables and payables.

Nilai wajar untuk instrumen keuangan yang diperdagangkan di pasar aktif ditentukan berdasarkan kuotasi nilai pasar pada tanggal pelaporan. Kuotasi nilai pasar yang digunakan Perusahaan untuk aset keuangan adalah harga penawaran (bid price), sedangkan untuk liabilitas keuangan menggunakan harga jual (ask price). Instrumen keuangan ini termasuk dalam tingkat 1.

The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. The quoted market price used for financial assets held by the Company is the current bid price, while financial liabilities use ask price. These instruments instruments are included included in level 1.

Nilai wajar instrumen keuangan yang tidak

The fair value of financial instruments that are




















Exhibit E/66

Ekshibit E/66







c. Risiko likuiditas (Lanjutan)

Estimasi nilai wajar (Lanjutan)

Fair value estimation (Continued)

Tabel di bawah ini menggambarkan nilai tercatat dan nilai wajar dari aset dan liabilitas keuangan:

The fair values of financial assets and liabilities, together with the carrying amounts, are as follow:

2013

2012

Nilai tercatat/

Nilai wajar/

Nilai tercatat/

Nilai wajar/

Carrying amount

Fair amount

Carrying amount

Fair amount Financial assets

Aset keuangan

Kas dan bank

1,803,313,518

1,803,313,518

2,525,100,943

2,525,100,943

Trade receivables

Piutang usaha Pihak berelasi Pihak ketiga

Piutang lain-lain Jumlah Liabilitas keuangan

Utang usaha

Cash on hand and in bank

1,920,721,248

1,920,721,248

1,884,647,837

1,884,647,837

Related parties

37,852,921,280

37,852,921,280

28,248,564,600

28,248,564,600

Trade receivables

205,649,000

205,649,000

Other receivables

32,863,962,380

32,863,962,380

Total

192,521,765 41,769,477,811

192,521,765 41,769,477,811

Financial liabilities

Trade payables




















Exhibit E/67

Ekshibit E/67



32. PENGELOLAAN PERMODALAN (Lanjutan)


32. CAPITAL MANAGEMENT (Continued) (Continued)

Tujuan utama pengelolaan permodalan Perusahaan adalah untuk memastikan bahwa Perusahaan memelihara peringkat kredit yang kuat dan rasio permodalan yang sehat untuk mendukung bisnis dan memaksimumkan nilai pemegang saham Perusahaan.

The primary objective of the Company’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximize shareholder value.

Perusahaan mengelola struktur permodalan dan membuat penyesuaian terhadap struktur permodalan tersebut terkait dengan perubahan kondisi ekonomi. Untuk memelihara atau menyesuaikan struktur permodalan, Perusahaan melakukan kebijakan dengan menunda pembayaran dividen kepada pemegang saham.

The Company manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may adjust dividend payments to shareholders, return capital to shareholders or issue new shares.

Perusahaan memantau penggunaan modal dengan menggunakan rasio gear yaitu utang neto dibagi dengan total modal ditambah utang neto. Perusahaan memasukkan utang neto, utang sewa pembiayaan, utang dagang dan utang lainnya dan pinjaman, dikurangi kas dan setar kas. Modal meliputi ekuitas yang dapat diatribusikan kepada pemegang ekuitas Perusahaan. Tidak terdapat perubahan dari periode sebelumnya terhadap

The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, finance lease payables, trade and other payables and loans and borrowings, less cash and cash equivalents. Capital includes equity attributable to the equity holders of the Company. There were no changes from the previous period for the Company’s capital management.




















Exhibit E/68

Ekshibit E/68



KELANGSUNGAN HIDUP (Lanjutan) 33. KELANGSUNGAN


33. GOING CONCERN MATTERS (Continued)

Tahun 2010, Perusahaan telah memperoleh restrukrurisasi kredit dari PT Bank Negara Indonesia (Persero) Tbk dan secara berangsur sudah mulai memperoleh laba bersih.

In 2010, the Company has obtained credit restructuring from PT Bank Negara Indonesia (Persero) Tbk and gradually has begun to gain profit.

Perusahaan telah dan akan terus menerapkan strategi-strategi pokok sebagai berikut:

The Company has initiated and will continue to implement the following strategies:

•

•

•

•

•

•

Efisiensi di segala bidang (Operasional,Produksi, Pemasaran dan kegiatan pendukung lainnya). Proyeksi ekspor 300 - 350 ton/bulan (Realistis namun profitable). Pengendalian pembelian bahan baku ikan dan diolah secara profesional. Memilih pembeli yang kredibilitasnya baik, terutama dalam pembayaran. Harga jual yang memadai yang mampu mendukung biaya produksi, menguntungkan dan dapat mendukung kewajiban-kewajiban Perusahaan. Menghindari claim dan rejection dengan meningkatkan kualitas produk.

•

•

•

•

•

•

Increase efficiencies in all areas (Operations, Production, Marketing and other support activities). Export a projected 300 – 350 tons/month (Realistic but profitable). Control the purchase of raw materials and processed fish in a professional. Trading worthy with credibility. Establish selling prices that will cover the cost of production, at the same time having the Company profitable and be able to meet its obligations. obligations. Improving product quality to avoid sales returns.

1Q_2013_DSFI_Dharma Samudera Fishing Industries Tbk

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