Financial Statement 

 

 

 

P.T. SONA TOPAS TOURISM INDUSTRY Tbk AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2004 AND 2003 
 2003 
   2004   (As restated)  
    Rp    Rp 
ASSETS
CURRENT ASSETS
Cash and cash equivalents       59,809,847,555       42,922,269,585
Trade accounts receivable - third parties         4,921,655,103         5,183,034,709
Other accounts receivable - third parties            718,389,764            405,669,803
Inventories       66,483,425,001       46,542,518,492
Purchase advances         2,868,402,025       14,203,785,289
Prepaid taxes         2,782,889,139            779,616,006
Prepaid expenses             48,777,292            976,828,123
Total Current Assets     137,633,385,879     111,013,722,007
NONCURRENT ASSETS
Restricted cash in bank         5,605,000,000         9,180,497,184
Deferred tax assets         1,525,426,396         3,197,396,018
Investment in shares of stock            323,242,979  - 
Property and equipment - net of
   accumulated depreciation of Rp 130,009,282,096
    in 2004 and  Rp 117,755,552,360  in 2003     229,060,806,831     241,274,328,217
Prepaid long-term rent         1,508,121,745         1,556,770,834
Guarantee deposits         1,848,808,047            985,633,810
Total Noncurrent Assets     239,871,405,998     256,194,626,063
TOTAL ASSETS     377,504,791,877     367,208,348,070
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade accounts payable - third parties       70,753,515,025       67,077,023,004
Other accounts payable - third parties            869,392,069         1,253,168,791
Taxes payable         5,608,262,268         4,536,407,284
Accrued expenses         6,697,790,476         7,214,734,347
Deferred revenue         6,302,553,251         9,697,291,264
Rental guarantee         3,440,720,906         3,505,820,552
Current maturities of long-term loans  -        25,395,000,000
Total Current Liabilities       93,672,233,995     118,679,445,242
NONCURRENT LIABILITIES
Post-employment benefit obligation       15,517,567,708       11,973,844,612
Deferred tax liability            489,527,228  - 
Long-term loans - net of current maturities   -      110,721,932,252
Bonds payable     150,203,333,333  - 
Total Noncurrent Liabilities     166,210,428,269     122,695,776,864
MINORITY INTERESTS IN NET ASSETS 
  OF SUBSIDIARIES             141,640,578            139,582,886
EQUITY
Capital stock - Rp 250 par value per share 
  Authorized - 1,320,000,000 shares
  Subscribed and paid-up - 331,200,000 shares        82,800,000,000       82,800,000,000
Retained earnings         34,680,489,035       42,893,543,078
Total Equity     117,480,489,035     125,693,543,078
TOTAL LIABILITIES AND EQUITY     377,504,791,877     367,208,348,070

 

 

 

P.T. SONA TOPAS TOURISM INDUSTRY Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME 
FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
 2003 
2004  (As restated)  
Rp Rp
 
REVENUES
Net sales - duty free shops 268,139,940,526 135,397,859,818
Rental and other income  20,368,304,909 19,442,182,225
Ticket sales 7,761,259,562 4,345,131,667
Documents, tours and hotel accommodations 217,543,338 211,765,772
Total Revenues 296,487,048,335 159,396,939,482
 
COST OF SALES AND DIRECT COSTS
Cost of sales - duty free shops 140,585,473,384 66,484,665,233
Cost of rental and others 7,748,046,013 7,712,259,706
Cost of tickets 7,655,784,519 4,253,347,431
Cost of documents, tours and hotel accommodations 212,452,443 202,331,212
Total Cost of Sales and Direct Costs 156,201,756,359 78,652,603,582
GROSS PROFIT 140,285,291,976 80,744,335,900
OPERATING EXPENSES
Selling 39,209,928,564 18,624,150,233
General and administrative 60,636,306,958 51,615,029,880
Total Operating Expenses 99,846,235,522 70,239,180,113
INCOME FROM OPERATIONS 40,439,056,454 10,505,155,787
OTHER INCOME (CHARGES)
Interest income   1,537,689,785 3,240,125,968
Gain (loss) on foreign exchange (19,607,211,614) 8,818,036,631
Interest expense (10,635,140,090) (7,916,402,197)
Installment Ijarah Fee (3,898,916,667) -
Loss on disposal of fixed assets (3,107,060,780) -
Others - net   (4,330,548,610) 534,848,121
Other Income (Charges) - Net   (40,041,187,976) 4,676,608,523
EQUITY IN NET LOSS OF ASSOCIATED COMPANY (176,757,021) -
INCOME BEFORE TAX 221,111,457 15,181,764,310
TAX EXPENSE
   Current tax (5,442,610,958) (1,293,468,369)
   Deferred tax (2,161,496,850) (2,586,297,686)
Tax expense (7,604,107,808) (3,879,766,055)
INCOME (LOSS) BEFORE MINORITY INTERESTS
  IN NET INCOME OF SUBSIDIARIES (7,382,996,351) 11,301,998,255
MINORITY INTERESTS IN NET INCOME OF 
  SUBSIDIARIES 2,057,692 13,116,247
NET INCOME (LOSS) (7,385,054,043) 11,288,882,008
 
EARNINGS (LOSS) PER SHARE
    Basic  (22) 34

 

 

 

P.T. SONA TOPAS TOURISM INDUSTRY Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
 
    Paid-up  
  capital stock  Retained earnings  Total equity  
  Rp Rp Rp
 
Balance as of January 1, 2003     82,800,000,000     35,783,381,707   118,583,381,707
 
Change in accounting policy on post employement benefits   -       (4,178,720,637)      (4,178,720,637)
 
Balance as restated     82,800,000,000     31,604,661,070   114,404,661,070
 
Net income for the year (as restated)  -      11,288,882,008     11,288,882,008
Balance as of December 31, 2003 (as restated)     82,800,000,000     42,893,543,078   125,693,543,078
 
Cash dividends  -         (828,000,000)        (828,000,000)
 
Net loss for the year    -       (7,385,054,043)      (7,385,054,043)
 
Balance as of December 31, 2004     82,800,000,000     34,680,489,035   117,480,489,035