PT. CENTURY TEXTILE INDUSTRY Tbk (PT. CENTEX Tbk) LAPORAN … · 2019-01-31 · LAPORAN LABA RUGI DAN PENOHASlLAN KOMPREHENSIF LAIN/ STATEM.ENTOF PROF/TOR LOSS AND OTHER COMPREHENSIVE

PT. CENTURY TEXTILE INDUSTRY Tbk (PT. CENTEX Tbk)

LAPORAN KEUANGAN SEMBILAN BULAN BERAKHIR PERIODE 31 DESEMBER 2018

TIDAK DIAUDIT

FINANCIAL STATEMENTS NINE MONTHS ENDED PERIOD 31 DECEMBER 2018

UN AUDITED

PT CENTURY TEXTILE INDUSTRY Tbk

ISJJCONTENTS

SURAT PERNYATAAN DIREKSIIDIRECTORS' STATEMENT

LAPORAN KEUANGAN PERIODE SEMBrLAN BULAN BERAKHIR 31 DESEMBER 2018/ FINANCIAL STATEMENTS FOR NINE MONTN PEJUOD ENDED 31 DECEMBER 2018:

Halaman!Page

LAPORAN POSISI KEUANGANISTATEMENT OF FINANCIAL POSITION ------------- l - 2

LAPORAN LABA RUG! DAN PENGHASJLAN KOMPREHENSlF LAIN/ STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ------- 3

LAPORAN PERUBAHAN EKUITASISTATEMENTOFCHANGESIN EQUITY----------- 4

LAPORAN ARUS KASISTATEMENT OF CASH FLOWS--------------------� . - 5

CA TAT AN ATAS LAPORAN KEUANGANINOTES TO THE FINANCIAL STATEMENTS -- 6 -48

CENTEX PT. CENTURY TEXTILE INDUSTRY Tbk 'TORAY' JL. Raya Begor Km.27 Clracas JAKARTA 13740 • INDONESIA

(i) \., SGi_

IDIM/6l044 TUTIX IDGJJOIWMI JKW004l'f8f

CONFIDENCE-�

INTEXTILES ' \.�I Jo1tod for halmtu JUl>llonu1 \ ,. �� taO.U,..tdS�lm "'-.. �

Fax : (62-21)8711401 Fax : (62-21) 8704294

(62-21) 8710724 , 8710725, 8710301 (62-21) 8716624, 8716962, 8725323 http://www.toray.co.id

Factory· Phone Sales • Phone Web

SURAT PERNYATAAN DIRE.KSI TENT ANG T ANGGUNG JAW AB ATAS

LAPORAN KEUANGAN UNTUK 31 DESEMBER 2018

PT CENTURY TEXTILE INDUSTRY Tbk ("PERSEROAN")

THE DI.RECTORS' STATEMENT OF RESPONSIBILITY FOR

THE FINANCIAL STATEMENTS 31 DECEMBER 2018

PT CENTURY TEXTILE INDUSTRY Thk (THE "COMPANY'?

Kami, yang bertanda tangan dibawah ini: We, the undersigned:

1. Nama Alamat kantor

Alamat domisili

Nomor telepon kantor

Jabatan

2. Nama Alamat kantor

AJamat domisili

Nomor telepon kantor

Jabatan

Ho soo Boon Jl. Raya Bogor Km.27, Ciracas, Jakarta Timur Apartement Sakura Dewi 2, JI. Dharmawangsa No. 17 Kebayoran Baru, Jakarta Selatan (021) 87711907/ (021) 8710301 Presiden Direktur

Hiroshi Inoue JI. Raya Bogor Km.27, Ciracas, Jakarta Timur Apartement Sakura Dewi t, JI. Wijaya xm No. 45 Kebayoran Baru, Jakarta Selatan (021) 87711907/ {021) 8710301 Direktur

1. Name : Ho Soo Boon Office address : JI. Raya Bogor Km.27,

Ciracas, East Jakarta Residential : Apartemeni Sakura Dewi 2, address JI. Dharmawangsa No. 17

Kebayoran Baru, South Jakarta

Office telephone: (021) 87711907/ (021) 8710301

Function : President Director

2. Name : Hiroshi Inoue Office address : JI. Raya Bogor Km.27,

Ciracas, East Jakarta Residential ; Apartemem Sokura Dewi 1, address JI. Wijaya Xlll No. 45

Kebayoron Boru, South Jakarta

Office telephone: (021) 87711907/ (02/) 871030/

Function : Director

menyatakan bahwa: l. Kami bertanggung jawab atas penyusunan dan

penyajian laporan keuangan Perseroan;

2. Laporan keuangan telah disusun dan disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia;

3. a. Penyajian yang telah kami buat dalam laporan keuangan adalah lengkap dan akurat;

b. Laporan keuangan tidak _ mengandung inforruasi yang menyesatkan dan kami tidak rnenghilangkan informasi atau fakta yang material terhadap Iaporan keuangan;

4. Kami bertanggung jawab atas pengendalian internal.

declare that: I. We are responsible for the preparation and

presentation of the financial statements of the Company;

2. The financial statements have been prepared and presented in accordance with Indonesian Financial Accounting Standards;

3. a. The disclosures we have made In the financial statements are complete and accurate;

b. The financial statements do no/ contain misleading information, and we have not ommited any information or facts that would be material to the financial statements;

4. We are responsible for the internal control.

Demikian pernyataan ini dibuat dengan sebenarnya. This statement is made truthfully.

Ho Soo Boon Presiden Direktur I President Director

Hiroshi Inoue Direktur I Director

Jakarta, 28 Januari 2019/ 28January2019

PT CENTURY TEXTILE INDUSTRY Tbk LAPORAN POSIS! K.EUANOANISTATEMENT OF FINANCIAL POSITION

ASET

ASETLANCAR Kas dHI1 bank Piutang usaha:

Pihak ketiga Pihak berelasi

Plutang lainnya Pihak ketiga Pihak berelast

Pcrsedlaan Pajak pertambahan nilai dibayar dimuka Biaya dibayar dimuka Uang muka pcmbclian

TOTAL ASET LANCAR

ASET TIDAK LAN CAR Aset tetap, neto Klaim paiak pcnghnsilan

Uang muka pembelian aset tetap Uangjarninan yang dapat dikembalikan

TOTAL ASET TIDAK LA.NCAR

TOTALASET

Catalan/ 2018 31 Desember/ 31 Maret/

Notes .U December 31 MQrclt USD USD

5 569.275 617.740 4,6

4.415.156 5.135.750 3.492.890 l.476.354

17.062 40.045 29.173 34.425

7 7.522.972 6.222.916 4.466.434 4.692.450

162.306 48.740 149.925 29.365

20.825.193 18.297.785 ....................................................................... ··

9 28.159.078 29.088.266 8 268.188 268.188

136.950 281.834 340.828

28.709.100 29.834.232 .............................................................................

49.534.293 48.132.017

ASSETS

CURRENT ASSETS Cash 011 hand and in banks

Trade receivables: Third parties

Related parties Other receivables Third parties

Related parties Inventories

Prepaid value added tax Prepayments

Advance payments TOTAL CURRENT ASSETS

NON-CURRENT ASSETS Fixed assets, net

Claims for income tax refunds Advance payments for purchase of

fixed assets Refundable deposits

TOTAL NON-CUR.RENT ASSETS

TOTAL ASSETS

Libat Catatan atas Laporan Kcuangan yang merupaknn bagian tak terpisahkao dari laporan keuangnn ini.

See Notes to the Financial Statements, which form an integral part of these financial statements.

PT CENTURY TEXTILE INDUSTRY Tbk LAPORAN POSlSl KEUANGAN (Lanjuta.n)!STATEMENT OF FfNANCIAL POSJ'f'JON (Continued)

.LIABTLITAS DAN EKUlT AS

LIABILITAS JANGKA PENDEK Utang bankjangka pendek Ut.ang usaha;

Pihak ketiga Pihak berelasi

Utangpujak Behan akrual Liabllitasjangka pendek lalnnya

TOTAL LIABILITAS JANGKA PEND EK

Cata tan/ 2018 31 Desember/ 31 Maret/

Notes 31 December 31.Morcll USP USD

10 26.500.000 26.000.000 4,11

2.997.551 1.354.978 2.633.179 2.081.503

12a 42.201 66.632 13 l.847.901 J.941.793

131.576 1.363.664

34.152.408 32.808.570 ..............................................................................

LIABILITIES AND EQUITY

CURRENT LIABJLJTJES Short-term bank loans

Trade payables: Third parties

Related parties Taxes payable

Accrued expenses Other current liabilities TOTAL CURRENT

LIABILITIES

LIABILITAS JANGKA PANJANG Plnj aman dari pihak berelasi Kewajiban imbalan kerja Pendapatan ditangguhkan Liabilitas jangko panjang lainnya

TOTAL LlABILITAS JANGKA PANJANG

TOTAL LIABILITAS

14 15

12.500.000 2.321.198

461.325 282.922

15.565.445

49.717.853

12.500.000 2.369.591

461.325 282.922

15.613.838

48.422.408

NON-CURRENT LIABILITIES Loans from a related party

Employee benefits obligation Deferred income

Other non-current liabilities TOTAL NON-CURRENT

LIABILITIES

TOT AL LIABILITIES

EKUITAS Modal saham, nilai nominal Rp 50 per

saham: Modal dasar, dltempatkan seluruhnya dan disetor penuh: 130.000.000 sahern seri B dan 70.000.000 saham scri A (14,5% norLkumulatip partisipasi laba)

Tambahan modal disetor Akumulasi rogi

TOTALEKUITAS

16 17

18.396.572 18.396.572 92.800 92.800

(18.672.932) (18.779.763) ............. (183.560) J290.39J)

EQUITY Share capital, al nominal value

of Rp 50 per share; Authorlzed.fuliy issued and

paid-up: /30,000,000 shares of B series and 70,000,000

shares of A series ( 14. 5% non cumulative participating

dividend) Additional paid-in capital

Accumulated deficit TOTAL EQUITY

TOTAL LIABILITAS DAN €KUITAS 49.534.293 48.132.017

TOTAL LIABILITIES AND EQUITY

Lihat Catatan atas Laporan Keunngnn yang merupakan bagian tak terpisahkan dari laporan keuangan ini. .

See Notes to tlle Financial Statements, which form an integral part of these flnandal statements.

2

PT CENTURY TEXTILE INDUSTRY Tbk LAPORAN LABA RUGI DAN PENOHASlLAN KOMPREHENSIF LAIN/

STATEM.ENTOF PROF/TOR LOSS AND OTHER COMPREHENSIVE INCOME PERlODE SEMBlLAN BULAN YANG BERAK.HIR PADA 31 DESEMBER 2018 DAN 2011/NINE MONTH

PERIOD ENDED 31 DECEMBER 2018 AND 2017

Periede sembllan bulsn yang berakbir pads 31 Desember I Ni11e

Catalan/ montl, period e11ded 31 December Notes 2018 2017

USD USD PEN,JUALAN NETO DEBAN P()KOK PEN.JlJALAN

LABA BRUTO

Pendapatan lainnya Beban penjualan Beban administrasi

(Rugi) laba penjuaJan aset tetap, neto Untung (Rugi) kurs, neto Beben lainnya

LABA (RUGI) OPERASI

18 19

20 21

9

29.825.198 24.332.112 (26.097.820) -� (2_ 1_ .0_ 05_ .9_ 53� )

3.727.378 3.326.159

292.899 3.634 (1.414.323) (1.229.674) ( i. 703.074) ( I. 930.462)

1.144 6.780 90.590 ( ll 1.444)

�--_,_�_o_ .5_ 67� >� __ ......... <1_ 04_ .6_ 3 ..... o) (2. 773.33 l) (3.365. 798)

954.047 (39.639) OPERATING PROFIT (LOSS)

NET SALES COST OF SALES

GROSS PROF.IT Other lncome

Selling expenses Administrative expenses

(Loss) gain on sale off ixed assets, net

Currency exchange loss, net Other expenses

Biaya keuangan Pendapatan keuangan

BrA YA KEUANGAN, NETO

LABA (RUGf) SEBELUM PAJAK PENGHASILAN

BERAN PAJAK PENGHASILAN 12e

(848.943) J.726

(847.218)

106.829

(484.466) 2.106

(482.360)

(521.999)

(136.823)

Finance costs Finance income

NET FINANCE COSTS

PROFIT (LOSS) BEFORE INCOME TAX

INCOME TAX EXPENSE

LABA(RUGI)

PENGHASILAN KOMPREBENSIF LAIN

Pos·pos yang tidak akan direklaslfikasl ke lobs rugi Pengukuran kernball atas liabilitas

imbalan pasti Pajak atas penghasilan komprehensif

lain Penghasilan komprchensiflain, sctclah

pajak

.TUMLAB PENGHASILAN KOMPREHENSIF

.. . . . . ).�� .?. ..(658.822)

106.829 (658.822) ===========

PROFIT (LOSS)

OTHER COMPREHENSIVE INCOME

Items that will not he reclassified to the profit or loss

Remeasurements of defined benefit liabilities

Tax 011 other comprehensive income

Other comprehensive Income, net of tax

TOTAL COMPR.EJIENSJVE INCOME

LABA (RUG)) PER SAHAM 22 DASAR 0,0005 (0,0033)

PROFIT (LOSS) PER SHARE BASIC

Lihat Catatan atas Loporan Keuangan yang merupakan bagian tak terpisahkan dari laporan keuangan ini,

See Notes to the Financial Statements, wJ,fcJ, form an Integral part of these flnancla! statements.

3

PT CENTURY TEXTILE INDUSTRY Tbk LAPORAN PERUBAHAN EKUIT AS/STATEMENT OF CHANGES IN EQUITY

PER10DE S.EMBlLAN BULAN YANG BERAIOIIRPADA 31 OESEMBER 2018 DAN 2011/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

T11mb11hqn modal

Modal disctur/ Jumlob sabam/ Addlllpnal Akumu!11sl roglf ekultas/ Share paid-In Accumulated Tata/ capital capital dtflcil equity

USD USD USO USD Saldo pct 31 Maret 2017 18.396.572 92.800 (17.:l93.8S7} I, 19S.S16 Balance as of Bl Marcl: 20!7

Pengba�llao komprehen,lr - Comprehensive income - Pertode bcrakblr31 Dcsrmbcr2017 Period e11ded 31 December 2017 Rusi (658.822) (658.822) Loss Pcnghasilan komprchcnsiflain, setclah Other comprehensive income,

pajak net of tax

Saldo per 31 Desember 2017 18.396.572 92.800 (I 7.952.679) 536.693 Balance as of S] D4<CCmbcr 20/7

Peogha�ll11n kom prehell!ilf - Comprehensive income - taboo bcrakhir 31 Maret 2018 year e11ded 31 March 2018

Rugi (723.985) (723.985) Loss Penghasilan komprehensif'laln, setelah

(103.099) (103.099) Other oomprehenstvc Income,

pajak net of tax

Saldo per 31 Maret 2018 18.396,S7l 9l.800 (18.779.763) (290.391) Balance as of 3/ March 20/8

Pcnghasilan komprchcnsif - Compreltt11Sive income» J'>eriode bcn1khir 31 Desember 2018 Period ended 31 December 1018

Laba (Rugi) 106,829 106,829 Phiflt (/,o.u) Penghasi!a11 komprehensif!ain, setelah Other comprehensive income,

pajak net of tax

Saldo per 31 Descmbcr 2018 18,396.572 92.800 (18.672.932} (183.560) Balance as of JI December 2018

Lihat Catatan atas Laporan K.euangan yang merupakan bagian tak terpisahkan dari laporan keuangan ini.

See Notes to the Financial Statements, which form an integral part of these financial statements.

4

PT CENTURY TEXTILE INDUSTRY Tbk LAPORAN ARUS KASISTATEMENTOFCASH FLOWS

PERI ODE SEM.BlLAN BULAN Y ANO BERAKHIR P ADA 31 DESEMBER 20 l 8 DAN 2017/NINE MONTH PERJOD ENDED 31 DECEMBER 2018 AND 2017

Periode sembilan bulan yang bcrakhir pada JJ Dcscmbcr I Nine month period ended JI December

2018 2017 USD USD

ARUS KAS DARI AKTIVITAS OPERAS! Penerimaan kas dari pelanggan Pembeyaran kas kepada pemasok Pcmbayarnn kas kcpada karyawan Pembayaran kas untuk aktivitas operasi

lainnya Penerimaaa bunga Pembayaran bunga Pembayaran pajak penghasilan Arus kas neto (untuk) dari aktivitas

Operasi

28.617.918 (20.234.286)

(4.280.929)

(1.552.002) 1.726

(848.944) (46.319)

l.657.164

CASH FLOWS FROM OPERA TING ACTIVITIES

Cash received from customers Cash payments to suppliers

Cash payments to employees Cash payments for other operating

activities Receipts of interest

Payments of interest Payments of income tax

Nd cash flows (used in) from operati11g .......... J2.99 l.404) activities

24.106.378 (17 .638.591) (4.376.219)

( 4.380.195) 2.107

(484.466) (220.420)

ARUS KAS DARI AKTMTAS lNVESTASI Perolehan aset tetap Hasll penjualan asct tetap Arus kas neto untuk oktivitas

Iovestasi

(2.206.773) l.144

(6.556.153) 8.045

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of fixed assets Proceeds from sale of fixed assets Net cash flows used In lnvest/11g

activities .......... (2.205.629)_ ........ , ... (6.�48.108)

ARUS KAS DARI AKTIVITAS PENUANAAN Pcnembahan utang bsakjangka pendek Pelunasan utang bankjangka pcndek Penambahan pinjaman dari pihak berelasi Anis ka.'i ncto dari aktivita.'I

pendanaan

2.000.000 (1.500.000)

500.000

CASH FLOWS FROM FINANCING ACTIVITIES

2.000.000 Proceeds from short-term bank loans (4.200.000) Repayments of short-term bank loam 11.000.000 Proceeds from loan from a related parry

Net cash flows from financing activities 8.800.000

(Penurunan) kenalkan neto kas den bank

Kas dan bank awal periode

Ka'I den bank akhlr perlode

(48.465)

617.740

569.275

(739.512)

999.541

260.029

Net (decrease) Increase In cash on ll11JJd and in banks

Casi, 011 lumd and in banks, beginning of period

Casi, on hand and in banks, end of period

Lihat Catalan ares Laporan Keuangan yang merupakan baglan tak terplsahkan dari laporan keuangon ini.

See Notes to the Finnncial Statements; which form a11 integral part of theseflnancial statements.

5

PT CENTURY TEXTILE INDUSTRY Tbk CAT AT AN ATAS LAPORAN KEUANGAN/NOTES TO THE FINANCIAL STATEMENTS

PERI ODE SEMBlLAN BULAN YANG BERAKHIR P ADA 31 DES EMBER 2018 DAN 20 l 7/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

1. UMUM

a. Pendirian Perseroan

Perseroan didirikan dengan narna PT Century Textile Industry disingkat PT Centex dalam rangka Penanaman Modal Asing (''PMA") berdasarkan Undang-Undang No. I tahun 1967 jo, Undang-Undang No. 11 lahun

1970, dcngan aktc notaris Dian Paramita Tamzil (pcngganti notaris Djojo Muljadi SH) tanggal 22 Mei 1970 No. 52, yang diubah dcngan aktc notaris Djojo Muljadi SH langgal 25 Januari 1971 No. 90. Aktc-aktc ini disetujui olch Menteri Kehakiman dengan No. J.A.5/19/19 tanggal 10 Pebruari 1971, didaflarkan di Pcngadllan Ncgcri Jakarta dengan No. 508 dun 509 tanggal 16 Pcbruari 1971, dan diumumkan dalam Tambahan No. 150 pada Berita Negara No. 25 tanggal 26 Maret 1971.

Anggarao Dasar Perseroan telah diubah beberapa kali. Mengeuai perubahan nama Perseroan menjadi PT Century Textile Industry Tbk disingkat PT Centex Tbk dilakukan dengan akte-akte notaris Singgih Susilo SM tanggal 20 September 1997 No. 65, dan tanggal 21 Oktober 1997 No. 100, scrta akte notaris Irene Yulia Susilo SH (pengganti notaris Singgih Susilo SH) tanggal 8 Januari 1998 No. 22. Aktc-aktc ini disetujui oleh Menteri Kchakiman dengan No. C2- 2028.HT.O l.04.Th.98 tanggal 20 Marci 1998, dun diumumkan dalam Tambahan No. 2704 pada Bcrita Negara No. 41 tanggal 22 Mei 1998. Pcrubahan terakhir dilakukan dengan aktc notarls Haji Syarif Siangan Tanudjaja SH tanggal 4 Agustus 2008 No. 2. Perubahan ini dibuat untuk mcmenuhi ketentuan Undang-Undang No. 40 tahun 2007 tentang Perseroan Terbatas dan Pcraturan Bapepam dun LK No. IX.J.1 mengcnai pokok-pokok Anggaraa Dasar Perseroan yang melakukan Pcnawarun Umum Efek Bersifat Bkuitas dan Perusahaan Publik, dan persetujuan penggunaan mata uaag Dolar Amerika Serikat ("Dolar AS") dalam pembukuan Perseroan. Akte ini telah disetujui oleh Menteri Hukum dan Hak Asasi Manusia dengan No. AHU-59078.AJ:l.01.02 Tahun 2008 tanggal 4 September 2008.

Perseroan beroperasi dalam Industri tekstil terpadu. Kegiaten komersiel dimulai pada tahun 1972.

b. Penawaran umum efck Perscroan

(i) Sesuai dengan surat Ketua Bapepam No. SI- 002/PM/E/1979 tanggal 4 Mei 1979 mengenai Izin Menawarkaa Efek di Burse, Perseroan telah mclakukan penawaraa umum kepada masyarakat melalui pasar modal sejumlah lJ 6.000 saharn dcngan nilai nominal Rp 5.000 per saham,

1. GENERAL

a. Tlz,: C,mzpa,1y '.f estahlifllnzent

The Company was established under the name of PT Century Textile Industry abbreviated as PT Centex in the framework of Law No. I of 1967 and Law No. 11 of 1970 on foreign capital investment by deed of notary public Dian Paramita Tamzil (substttute for notary public Djojo Muljadi SH) dated 22 May 1970 No. 52, amended by deed of notary public Djojo Muljadi SH dated 25 January 1971 No. 90. These deeds were approved by the Minister of Justice under No. J.A.5119/19 on JO February 1971, registered at the Jakarta Court of Justice under No. 508 and 509 on 16 February 1971, and published in Supplement No. 150 to State Gazette No. 25 on 26 March 1971.

The Company's Articles of Association have been amended several times. Concerning the change in the Company's name to PT Century Textile industry Tbk abbreviated as PT Centex Tbk was effected by deeds of notary public Singgih Susilo SH dated 20September /997 No. 65, dated 21 October 1997 No. JOO, and notary public Irene Yulia Susilo SH (substitute for notary public Singglh Sustlo SH) dated 8 January 1998 No. 22. These deeds were approved by the Minister of Justice under No. Cl- 2028. HT. O l.04. Th.98 on 20 March 1998, and published In Supplement No. 2704 to State Gazette No. 41 on 22 May 1998. The latest amendment was effected by deed of notary public Hejl Syarlf Siangan Tanudjaja sn dated 4 August 2008 No. 2. The amendment was made to comply with Law No. 40 year 2007 regarding Limited liability Company Law and Bapepam and LK regulation No. JX.J. J regarding the Articles of Association of Companies Conducting Public Offerings and Public Companies, and approval for using United States of America Dollar ("US Dollar") currency in the Company's book keeping. This deed was approved by the Minister of law and Human Rights under No. AHU-59078.AH.OJ.02. Tahun 2008 on 4 September 2008. The Company operates in a fully integrated textile industry. Commercial activities commenced in 1972.

b. The Compa11v 's public c>fferit1t1 (i) In accordance with feller from Chairman of the

Capital Market Supervisory Agency ("Bapepam'J No. Sl-002/PMIEl/979 dated 4 May 1979, "Permit to offer shares In cap/la/ market", the Company has publicly offered, through the capttal market, 116,000 shares with a nominal value ofRp 5, 000 per share.

6

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORA.N KEUANGAN (Lanjutan)/NOJES TO 71iE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBILAN BULAN YANG BERAKHIR PA.DA 31 DESEMBER 2018 DAN 2017/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

1. UMUM (Lanjutan)

b. J>enawaran umum efek Perseroan (Lanjutan)

(ii) Sesuai dengan surat Kctua Bapepam No. Sl-020/ PM/E/ J 983 tanggal 24 September 1983 mengenai Izin Menawarkan Efek di Bursa, Perseroan melakukan penawaran umum kedua kepada masyarakat melalui passr modal seiumlah 584.000 sahara dcngan nilai nominal Rp 5.000 per saham.

(iii) Dengan surat PT Bursa Elek Surabaya ("BES") No. 05/D-02/BES/VUI/1989 tanggal 8 Agustus 1989 dan surat PT Bursa Efek Jakarta (''BEJ") No. S-273/BEJ/VJ/1992 tanggal 26 Juni 1992, 700.000 saham J>erseroan dicatatkan di BES dan BEJ.

(iv) Di tahun 1993 tclah dilakukan pemccahan nilui nominal saham ("stock split") dari Rp 5.000 per saham menjadi Rp 1.000 per saham sehingga jumlah saham bcrcdar bcrtambah dari 700.000 menjadi 3.500.000 saharn seri A Oleh karena itu, sebanyllk 3.500.000 saham seri A telah dicatatkan di BES dan BEJ.

1. GENERAL (Continued)

b. T(le Company·-� public ,>fferim: rc,mtinuedJ

(ii) According to the letter from Chairman of the Bapepam No. Sl-020/PMIE/1983 dated 24 September 1983 regarding "Permit to offer shares in the capital market", the Company made the second offer to the public through the capital market a total of 584,000 shares with a nominal value of Rp 5, 000 per share.

(iii) By letter of PT Bursa Efek Surabaya ("BES'1 No. 05/D-02/BES!VJJU/989 dated 8 August 1989 and letter of PT Bursa Efek Jakarta ("BE.1'1 No. S- 273/BEJ!VII I 992 dated 26 June /992, 700,000 shares of the Company were listed at BES and BE.I.

(iv) In 1993 the nominal value of the shares was split (''stock split") from Rp 5,000 to Rp I,000 per share; consequently, rite number of outstanding shares increased from 700,000 to 3,500,000 shares of A series. Therefore, 3,500,000 shares of A series have been listed at BES and BEJ.

(v) Sesuai dengan surat PT Bursa Efek Jakarta No. $-3312/BE.J.EEM/I 1-2000 tanggal 9 Nopember 2000 dan surat PT Bursa Elek Surabaya No. JKT OJ 9/MKT-LIST/BES/1/2001 tanggal 29 Januari 2001, Perscroan tclah mcncatatkan saham seri B sebanyak 6.500.000 saham di BES dan BEJ. Pencatatan saham tersebut dllakukan masing masing pada tanggal 22 Desember 2000 dan 5 Pebruari 2001 sesuei dengan pengumuman No. PENG-238/BEJ-EEM/12-2000 dan No. JKT· 006/MKT-LIST-PENG/BES/Il/2001 di BES dan BEJ, sehingga seluruh saham Perseroan yang bcrcdar, yaitu scbanyak I 0.000.000 saham dicatatkan seluruhnya di BES dan BEJ.

Sehubungan dengan penggabungan BES ke dalam BEJ, dan selanjutnya BEJ berubah nama menjadi PT Bursa Efek Indonesia (''BEi") sejak tanggal 30 Nopember 2007, saham Perseroan yang beredar dicatatkan seluruhnya di BEi.

(vi) Di tahun 2016 telah dilakukan pernecahan nilai nominal saham ("stock split") dari Rp l.000 per saham menjadi Rp 50 per saham sehingga jurnlah saham bereder bertambah darl 6.500.000 menjadi 130.000.000 saham seri B dan 3.500.000 mcrtjadi 70.000.000 saham seri A. Oleh karena itu, sebanyak 130.000.000 saham seri B dan 70.000.000 saham seri A telah dicatatkan di BEi.

(vi}

In connection with the merger of BES into BE.l, and subsequently BE.I changed its name to PT Bursa Efek Indonesia (''BE!") since 30 November 2007, all of the Company's issued shares were listed at BEl.

In 2016 the nominal value of the shares was split ("stock split") from Rp 1,000 to Rp 50 per share; consequently, the number of outstanding shares increased from 6,500,000 to 130,000,000 shares of B series and 3,500,000 to 70,000,000 shares of A series. Therefore, 130,000,000 shares of B series and 70,000,000 shares of A series have been listed at BE!.

7

(v) According to the letter from PT Bursa lifek Jakarta No. S-3312/BE.J.EEM!l 1-2000 dated 9 November 2000 and letter from PT Bursa Efek Surabaya No. JKJ:.019/MKT-LISIYBES/112001 dated 29January 2001, the Company registered 6,500,000 shares of B series at the BES and J]EJ. The shares were listed on 22 December 2000 and 5 February 2001, respectively. by the announcements No. PENG-2)81 BE.J-EEMI/ 2-2000 and No. JKT-006/MJ...7-LJSI PENCIBES/!1/2001 at BES and BEJ; respectively, therefore all of the Company's Issued shares of /0,000,000 shares were listed al BES and BE.I.

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO Tl1EF1NANCJALSTATEMENTS (Continued)

PERlODE SEMBlLAN BULAN YANG BERAKHlR PADA 31 DESEMBER 2018 DAN 20 l 7/NlNE MONTH PERJOD ENDED 31 DECEMBER 2018 AND 2017

1. UMUM (Lanjutan)

c, Komisaris. Dircks! da_n Karyawon

Per 31 Desember 2018 dun 2017, susunan Dewan Komisaris dan Direksi Perseroan adalah sebagai berikut:

2018

I. GENERAL (Continued)

c. Cgn,nJh*mers, Direct,m and Employees

As of 31 December 20/8 and 2017, the composition of the Company's Boards of Commissioners and Directors was as follows:

2017

Presiden Komisaris Komisaris lndepcndcn Komisaris

Presidcn Dircktur Wnkil Presiden Direktur

Direksi

Dlroktur Independen

Komite Audit

Tn./Mr. Suhardi Budiman Tn./Mr. Katsutoshi Ina Tn./Mr. Hideo Umeki

TnJMr. Ho soo Boon Tn./Mr, Muljndi Budiman

Tn./Mr. Yoshinobu GllIIIO Tn./Mr. Ketsuya Okajima TnJMr. Hiroshl Inoue TnJMr. Teh Hock Soon

Tn./Mr_ Kenichi Kuroda

Tn./Mr. Katsutoshi Ina Tn./Mr. Irwan Selia Tn./Mr. Charles Christian

Tn./Mr. Suhardi Budiman Tn./Mr. Katsutoshi Ina Tn./Mr. Hideo Umeki Tn./Mr. Komei Kobayashi TnJMr. Muljadi Budirnan Tn./Mr. Ho Soo Boon Tn./Mr. Takuji Kozaka Tn.lMr. Kaisuya Okajima Tn./Mr. Hiroshi Inoue

Tn./Mr. Kenichi Kuroda

Tn.!Mr. K11tsu1oshi Ina Tn./Mr. lrwan Setia Tn./Mr. Charles Christian

President Commtssloner Independent Commissioner

Commissioner

President Director Vice President Director

Directors

Independent Director

Audit Committee

Per 31 Dcscmbcr 2018 dan 2017, Perseroan mcmpekeriakan masing-rnasing 41 O dan 435 karyawan tetap (tidak diaudit).

d, Kantor dan pabrik Perscroan beralamat di Jalan Raya Bogar Km. 27, Ciracas, Jakarta Timur.

e, Perseroan merupakan bagian dari kclornpok usaha Toray. Kelompok usaha ini memlliki anak perusahaan dan perusahaan ufiliasi di seluruh dunia (selanjutnya lihat Catatan4).

C. Laporan keuangan Perscroan disetujui untuk diterbitkan oleh direksi pada tanggal 28 Januari 2019.

As of 3/ December 2018 and 2017, the Company employed 410 and 43J permanent employees (unaudited), respectively.

(I. the Company's office and factory are localed at Jalan Raya Bogor Km. 27, Clraoas, East Jakarta.

e. The Company is part of Toray group. This group has subsidiaries and affiliates throughout the world (see further Note 4).

f The Company's financial slalemenlr were authorized for issuance by Directors on 28 January 2019.

8

PT CENTURY TEXTILE INDUSTRY Tbk CAfATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERlODE SEMBILAN BULAN YANG BERAK.HlR PADA 31 DESEMBER 2018 DAN 2017/N1NEMONT11 PERIOD ENDED 31 DECEMBER 2018 AND 2017

2. DASAR PENYUSUNAN

a. Pernyataan kepatuban

Laporan keuangan telah disusu.n sesuai dengan Standar Aku.nta.nsi Keuangan di Indonesia ("SAK") da.n Peraturan Badan Pcngawas Pasar Modal dan Lembaga Keuangan (BAPEPAM - LK) No. Vlll.0.7 tentang "Penyajian dan Pengungkapan Lapora.n Keuangan Emiten atau Perusahaan Publik" sebagaimana diubah oleh Kcputusan No. KEP-554/BU2010 yang digantikan olch Kcputusan No. KEP-347/BU2012 "Perubahan etas peraturan No. vui.o.r-.

b. Dasar pengukuran

Laporan keua.nga.n disusu.n atas dasar akrual dengan menggu.naka.n konsep nilai historis, kecuali bila stander akuntansinyu mengharuskan pengukuran pada nilai wajar.

e, Mam uang fungsional dan penyajian

Laporan keuangan disajikan dalam Dolar AS, yang merupaka.n mata uang fungsional l'erseroa.n.

d. Lapnran arus kas

Laporan arus kas menyajikan peruhahan dalam kas dan bank dari aktivitas operasi, investasi dan pendanaan. Laporan arus kas disusun denga.n metode langsung.

e, Pcnggunaan portimbangan, c.stimasi, dan asumsi Penyusunan laporan keuangan mengharuskan manaiernen untuk membuat · pcrtimbangan, csdmasl dan asumsl yang mempengaruhi penerapan kebijakan aku.nta.nsi dan jumlah aset, liabilitas, pendapatan dan beban yang dilaporka.n. Hasil aktual dapat berbeda dari jumlah cstimasi tersebut,

Estimasi dan dasar asumsi yang dlgunakan ditelaah secara berkesinambungan. Perubaha.n terhadap estirnasi diakui secara prospektif.

2. BASIS OF PREPARATION

u. Statement of compliance The financial statements have been prepared in conformity with Indonesian Financial Accounting Standards ("SAK") and the Capital Market and Financial Institution Supervisory Agency (BAPEl'AM - LK) Regulation No. VJJJ.G. 7 regarding the Presentation and Disclosure of Financial Statements of Issuer or Public Company as amended by Decree No. KE'P-554/BU2010 which was replaced by Decree No. KEP-347/BU2012 "Amendment to regulation No. VJJJ.G. 7".

b. Basis of measurement The financial statements are prepared on the accrual basis using the historical cost concept, except where the accounting standards require fair value measurement.

c. Funaional and presentation currency

The financial statements are presented in VS Dollar, which is the functional currency of the Company.

d. Statement of cash flows

The statement of cash flows presents the changes in cash on hand and in banks from operating, Investing and financing activities. The statement of cash flows is prepared using the direct method.

e. Use of judgments, estimates, and assumptions

The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from the estimated amounts.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively.

9

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMDlLAN BULAN YANG BERAKHIRPADA 31 DESEMBER 2018 DAN 2017/N!NE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

2. DASAR PENYUSUNAN (Lanjutan)

e. Penggunaan pertimbangan, estimasi, rum asumsi (Lanjutan)

Informasi mengenai ketidakpastian asumsi dan estimasi yang mungkin dapat mengakibatkan penyesuaian material pada tahun berikutnya tercantum dalarn catatan berikut:

• Catalan 9 - estimasi masa manfaat aset tetap dan uji penunman nilai: asumsi utama yang mendasari jumlah terpulihkan;

• Catalan 12 - pengakuan aset pajak tangguhan: ketersediaan laba kena pajak dimasa depan yang memungkinkan Perseroan mengakui seluruh aset pajak iaogguhan; dan

• Caiatan J 5 - pengukuran kewajiban imbalan kerja: asumsi aktuarial.

Sejumlah kebjjakan akuntansi dan pengungkapan memerlukan pengukuran terhadap nilai wajar, baik untuk aset dan liabilitas keuangan maupun non-keuangan.

Ketika rnengukur nilai wujar dari suatu aset atau liabilitas, Pcrscroan scdapat mungkin menggunakan data pasar yang dapat diobservasi. Nilai wajar ditentukan dengan menggunakan hirarki alas input yang digunukan dalam teknik penilaian untuk aset dan liabilitas:

• Level 1: harga kuotasian (tan pa penyesuaian) di pasar aktifuntuk aset atau liabilitas yang idcntik.

• Level 2: input, selain harga kuotasian yang termasuk dalam Level 1 yang dapat dlobservasi, baik secera langsung (contoh: harga) atau secara tidak langsung (contoh: berasal dari sumber harga lain yang dapat diobscrvasl).

• Level 3; input yang tidak didasarkan pada data pasar yang dapal dioberservasi (input yang tidak dapat diobscrvasl),

Jika input yang digunakan untuk mcngukur nilai wajar dari aset atau liabilitas diperoleh dari gabungan beberapa level yang berbeda dalam hirarki nilai wajar, maka pengukuran nilai wajar untuk seluruh kelas asct atau liabllitas diaoggap telah menggunakan level input terendah yang signilikan terhadap keseluruhaa pengukuran (Level 3 scbagal level terendah),

Informasi lebih lanjut teatang asurnsi yang dibuat dalam mengukur nilai wajar tercantum dalam catatan berikut:

• Cal.atan 9 - Aset tetap, pengungkapan tambahan etas informasi nilai wajar;

• Catalan 25 - lnstrumen keuangan dan manajemen risiko keuangan.

2. BASTS OF PREPARATJON{_Continued)

e. Use of judgments, estimates, and assumptions (Continued)

Information about the assumptions and estimation uncertainties that may result in a material adjustment within the following year is included in the following notes:

• Note 9 - fixed assets useful lives estimation and impairment test: key assumptions underlying recoverable amounts;

• Note 12 - recognilion of deferred tax assets: availability of future taxable profit to enable the Company to recognize all deferred lax assets; and

• Note I 5 - measurement of employee benefits obligation: actuarial assumptions.

A n11111ber of accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities.

When measuring the fair value of an a.l'Sef or a liability, the Company uses observable market data to the extent possible. Fair values are determined using the following hierarchy of Inputs used in the valuation techniques for assets and liabilities:

• Level I; quoted prices (unadjusted) In active markets for identical assets or liabilities.

• Level 2: Inputs, other than quoted prices included in Level I, that are observable, either directly (i.e. price) or indirectly (i.e. derived from other observable price).

• Level 3: inputs that are not based 011 observable market data (unobservable inputs).

ff the inputs used to measure the/air value of an asset or a liability are drawn from a mixture of different level sources of the fair value hierarchy, then the fair value measurement for the entire class of the asset or liability is considered to have been done using the lowest level input that is significant to the entire measurement (Level 3 being the lowest).

Further information about the assumptions made in measuring fair values is included in the following notes: • Note 9 - Fixed assets, additional disclosure of fair

value information; • Note 25 - Financial instruments and financial

risks management.

10

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTEST'O THE FINANCIAL STATEMENTS (Continued)

PERlODE SEMBlLAN BULAN YANG BERAK.HlR PA.DA 31 DESEMBER2018 DAN 2017/N/NEMONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

2. DASAR PENYUSUNAN (Lan,iutan)

f. Perubahan kcbijakan akuntansl

Standar, perubahan dao interpretasi yang berlaku cfcktiftanggal 1 April 2017

Berikut ini adalah standar, perubahan dan interpretasi yang berlaku efektif tanggal l April 2017 yang dipandang relevan terhadap laporan keuangan Perseroan:

Pemyataan Standar Akuntansi Keuangan/Statement of Financial Accounting Standard ("PSAK") I (Amandernen 201512015 Amendment) PSAK 3 (Penyesuai1111 2016/20/6 Annual Improvement) PSAK 24 (Penyesualaa 2016/2016 Annual improvement) PSAK 58 (Penyesuaian 2016/2016Annual Improvement)

a PSAK 60 (Penyesuaian 2016/20/6 Annual Improvement) Interpretas! Standar Akuntaasi Keuanganllnterpretatlon of Ftnancial Accounting Standard ("ISAK") 32

Perseroan telah menganalisa penerapan stander dan interpretasl akuntansi tersebut di atas dan penerapan tersebut tidalc merniliki pengaruh yang signifikan terhadap laporan keuangan. · ·

Standar, perubahan don lnterpretasl yang telah diterbitkao namua belum efektif

Beberapa standar akuntansi dW1 interpretasi baru/revisl telah diterbitkan tetapi belum efektif untuk tahun yang berakhir 31 Maret 20l8, dan tidak diternpk11n dalam penyusunan laporan keuangan ini, namun mungkio relevan untuk Perseroan:

·2 .: BASIS OF PREPARATION (Continued)

f Changes In accounting policies

Standards, amendments and interpretations effective on J April 2017

The following standards, amendments and interpretations became effective on I April 2017 and are relevant to the Company's financial statements:

P1,,-nynjiW1 Laporan Keuangan tentang Prakarsa Pcngungkapan/ Disclosure Initiatives in Presentation of Financial Statements

Laporan Keuangan Interim/Interim Financial Statements

lmbalan Kerja/Employee Benefits

Asel tidak. Lancer yang Dimiliki untuk Dijual clan Operasi yang Dihentikan/Non-current Assets Held For Sale and Dlsconunued Opera/ions) Instrumen Keuangan: Pengungkapan/Financial Instruments: Disclosures) Deflnisi dan I lirarki Standar Akuntansi Keuangan/Deflnition and Hierarchy of Financial Accounting Standard.

The Company has assessed that the adoption of the above mentioned accounting standards and interpretations do not have any significant impact to the financial statements.

Standards, amendments and interpretations issued but not yet effective

Certain new/revised acoountlng standards and interpretations have been Issued that are not yet effective for the year ended 31 March 2018, and have not been applied in preparing these financial statements, but may be relevant to the Company:

Efektif berlaku pad a atau setelah tanggal 1 Januari 2018/ Effective starting 011 or after 1 January 2018

PSAK 2 (Amandemen 20l6/2016Ame11d111e11t)

PSAK 46 (Amandcmcn 201612016 Amendment)

Laporan Arus Kas tentang Pralcarsa Pengungkapan/D/sc/o.mre Initiatives in Statements of Cash flows; Pengakuan Aset Pajak Tangguhan untuk Rugi yang Belurn DircalisasVRecognition of Deferred T(JX Asselt for Unrealized Losses.

11

PT CENTURY TEXTILE INDUSTRY Tbk CAT AT AN ATAS LAPORAN KEUANGAN (Lanjutan)/N07'ES TO THE FINANCIAL STATEMENTS (Continued)

PERlODE SEMBILAN BULAN YANG BERAK.HlRPAl)A 31 DESEMBER 2018 DAN 2011/NINE MONTH PERIOD ENDED 3/ DECEMBER 20/8 AND 2017

2. DASAR PENYUSUNAN (Lanjutan)

f. Perubaban kebijaknn akuntansi [lanjutan)

Standar, perubahan dan intcrprttasi yang telah diterbitknn namun belum efektif(Lanjutan)

2. JJASIS OF PREPARATION (Continued)

f. Changes i11 accounting policies (continued) Standards, amendments and interpretations issued but not yet effective (Continued)

Efcktifberlaku pada atau setelah tanggal 1 Januari 2019/Effective starting on or after I January 2019 Transaksi Valuta Asing dan Imbalan dimuka/Forcign Currency Transaction and Advance Consideration.

Efektif berlaku pada atau setelah tanggal 1 Januari 2020fE/fective .ffart/ng on or after 1 January 2020 PSAK 71 lnstrumen Keuangon/ Financial lnstrumem; PSAK 71 (Amandcmen 2017/20/7 Amendment) Jnstrumen Keuangan • Fitur Pcrcepatan Pelunasan dengan

Kompensasl Neg;llil7Flnancial Instrument • Prepayment Features with Negative Compensation;

PSAK 72 Pendapatan dari Kontrak dengan Pclanggan!Revenue from Contracts with Customers;

PSAK 73 Sewa!Lease.

ISAK33

Saat dikeluarkannya laporan keuangan ini, manajcmcn belum menentukan dampak retrospektif, jika ada, dari adopsi di masa yang akan datang dari standur terkait, pada posisi keuangan dan basil operasional Pcrscroan,

3. IKHTISAR KEBIJAKAN AKUNTANSJ YANG PENTING

Kebijakan-kebijakan akuntansi bcrikul inl telah diterapkan secara konsisten terhadap seluruh periode yang disajikan dalam laporan kcuangan ini:

a. Penllalan persedlaan

Persediaan diukur pada harga yang lebih rcndah untara barga persediaan dan nilai neto yang dapat direalisasi. Biaya persediaan ditentukan dcngan metode rata-rata, dan mencakup pengeluaran yang terjadi untuk memperolch persediaan, bi11y11 produk.si atau biaya konversi serta blaya lain yang timbul sampal persediaan berada di lokasi dan kondisi yang ada saat ini. Dalam hal perscdiaan yang diproduksi dan persediaan dalarn pengolahan, biaya pcrsediaan tcnnasuk overhead produksi yang dialokasikan berdasarkan kapasitas produksi normal. Nilal realisasl neto 11d11l11h taksiran harga jual dalam kegiatan usaha normal, dlkurangi estlmasi blaya penyelesaian dan estimasi biaya yang dipcrlukan untuk melakukan penjualan.

b. Aset tetop

Tanah yang diperoleh dengan status Hak Guna Bangunan ("HGB") diukur sebesar harga perolehan (termasuk biaya legal untuk mempcroleh tanah) duo tidsk diamortisasi.

As of the issuance Qf these j}nanclal statements, management has not determined the extent of the retrospective Impact, if any, that the future adoption of these standards will have on the Company's financial position and operating results.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

771e accounting policies set 0111 below have been applied consistently to all periods presented in these financial statements:

a. Inventory valuation

Inventories are measured at the lower of cost and net realizable value. Cost of inventories ls determined using the average method and includes expenditures incurred in acquiring the Inventories, production or conversion costs and other costs Incurred In bringing them to their existing location and condition. In the case of manufactured inventories and work in process, cost includes 011 appropriate share of production overheads based on normal operating capacity.

Net realizable value is the estimated selling price in the ordinary course of business, fess the estimated costs of completion and the estimated costs necessary to make the sale.

b. Fixed assets Land acquired under Hak Guna Bangunan ("HGB'') title is measured at acquisition cost (Include legal costs incurred in transactions to acquire the land) and is not amortized;

12


PERJOPE SEMBILAN BULAN YANG BERAKHTR PADA 31 DESEMBER 2018 DAN 2017/N/NE MONTH PE!UOD ENDED 31 DECEMBER 2018 AND 2017

3. IKHTISAR KEBIJAKAN AKUNTANSI YANG PENTING (Laniutan)

b. Aset tetap (Laojutao) Asct tctap sclain tanah diukur menggunakan model biaya, pada awalnya diukur pada harga perolehan dan selanjutnya dikurangi akumulasi penyusutan dHD akumulasi kerugiun penurunan nilai, Penyusutan dihitung sejak bulan aset yang bersangkutan siap untuk digunakan dcngan mctodc garis lurus selama estlmasl masa manfaat dari aset sebagai herikut:

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

b. Fixed ussets (Continued)

Fixed assets other than land are measured using the cost model, i.e. initially measured at cost and subsequently carried net of uccumulated depreciation and accumulated Impairment losses. Depreciation iii computed starting from the month such assets are ready for their intended use, using the straight-line method over the following estimated useful Jives of tire assets:

Bangunan Mesin dan peralatan pabrik Perkakas, perlengkapan, dan perabot Kendaraaa

2 1/2% (40 lahunlyear�) 8 1/3% (12 tahmi/years)

lOo/o(lOlahuIL')lears) 20% (5 lahunlyears)

Buildings Plant machinery and equipment

Tools, furniture and fixtures Vehicles

Aset dalam konstruksi dinyatakan scbcsar biaya perolehan, dan merupakan akumulasi dari blaya-biaya bahan, peralatan serta biaya lainnya yang berkaitan langsung deogan konstruksi aset tetap, termasuk biaya plnieman, Akumulasi biaya tersebut akan direklasifikasi ke dalam kategori aset tetap yang bersangkutan pada saat konstruksi selesai dan asct tcrsebut slap untuk digunakan sesuai dengan tujuannya,

Beban perbaikan dan pemeliharaan normal diakui d.i laba rugi saat terjadinya; sedaagkan biaya yang selanjutnya timbul untuk menambah, mengganu, atau rnemperbaiki aset tetap dikapitalisasi jika memenuhi kriteria untuk dlakui sebagal bagian dari aset.

Asel tetap yang dilepas atau telah dijual, dikeluarkan dari kelompok aset tetap yang bersangkutan, dan keuntungan atau kerugian yang terjadi diakui dalam laba rugi.

Estimasi masa manfaat dan metode penyusutan dikaji ulang setiap akhir tahun dan pengaruh sctiap pcrubahan estimasi tersebut diperlakukan secara prospekti i:

c. Penuruoao oilai aset ooo-keuaogan

Nilui tcrcatat aset non-keusngaa Perseroan ditelaah pada setiap tanggal pelaporan untuk menentukan apakah terdapat indikasi penurunan nilai. Jika terdapat indikasi tersebut, maka nilai terpulihkan aset non-keuangan tersebut diestimasi.

Assets under construction are staled at cost, and represent the accumulated costs of materials, equipment and other costs directly related to construction of fixed assets, including borrowing COSIJ', The accumulated COSI is reclassified lo the related categories of fixed assets when the construction is completed and that asset is ready for its intended use.

Normal repair and maintenance expenses are recognized in pro/ii or loss (1.J incurred; while costs Incurred subsequently to add to, replace part of, or service fixed assets are capitalized when the recognition criteria are met.

Fixed assets that are disposed or are sold, are removed from the related group of fixed assets, and the gains or losses are recognized in profit or loss.

The estimated usefu! lives and depreciation method are reviewed al each year end, wilh the effect of any changes in estimate accounted for on a prospective basis.

c. Impairment of non-flnanclal a.ssetr

The carrying amount of the Company's non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such Indication exists, then the recoverable amount of the non-financial asset Is estimated.

13

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN KBUANGAN (Lanjutan)/NVTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBILAN BULAN YANG BERAKHfRPADA 31 DESEMBER2018 DAN 2017/NINE MON711 PERIOD ENDED 31 DECEMBER 2018 AND 2017

3. IKHTISAR KEBIJAKAN AKUNT ANSI YANG PENTlNG (Lanjutan)

c, Penurunan nilai asct non-kcuangan (Lanjutan)

Kerugian penurunan nilai diakui apabila nilai tercatat suatu aset atau unit pcnghasil kas meleblhi nilai terpulihkannya, Unit penghasil kas adalah kelompok aset terkecil teridentifikasi yang menghasilkan arus kas masuk yang scbagian bcsar indepcnden dari aset lainnya, Kerugian penurunan nllai diakui dalam Iaba rugi,

Nilai terpulihkan dari suatu aset atau unit pcnghasil kas adalah nilai tertinggi antera nilai pakai dan nilai wajar dikurangi biaya untuk melepasnya, Dalam menaksir nilai pakai, estimasi arus kas masa depan didiskonto ke nilal sekarang dengaa menggunakan tingkat diskonto sebelum pajak yang mencerminkan penilaian pasar kini alas nilai waktu dari uang dan risiko spesifik atas asct atau unit penghasil kas tersebut.

Kerugian pcnunman nilai yung diakui di periode sebelumnya dievaluasi pada setiap tanggal pelaporan apakah terdapat indikasi bahwa kerugian telah berkurang atau tidak ada lagi, Kcrugian penurunan nilui dibalik jika terdapat perubahan estimasi yang digunakan untuk menentukan nilai terpulihkannya. Kerugian penurunan nilai dibalik hanya scbatas nilai tercatat aset yang tidak melebihi nilai tereatat yang seharusnya diakui, setelah dikurangi penyusutan atau amortisasi, bila kerugian pcnurunan nilai tidak pernah diakui.

Kebijakan akuntansi untuk penurunan nilai aset kcuangan dijclaskan dalam Catatan 3e.

d. lmbalan kerja

(I) lmbalan pascakerja

Kewajiban imbalan pascakerja dihitung sebesar nilai kini dari estimasi jumlah imbalan paseakerja di mesa depan yang timbul dari jasa yang telah diberikan oleh karyawan pada masa kini dan masa lalu, Perhitungan dilakukan oleh aktuaris bcrkualifikasl dengan metode projected unit credit.

Pengukuran kembali kewajiban ncto program lmbalan pas ti ( coatobnya, lab a rugi aktuarial) diakui segera dalam penghasilan komprehensif lain.

Sebagai tambahan, ketika manfaat program bcrubah atau ketika suatu kurtailmcn atas program terjadi, dampak perubahan manfunt tersebut yang terkait dengan [asa lalu atau keuntunganlkerugian dari kurtailmen diakui segera dalam laba rugi,

3. SUMMARY OF SIGNIFICANT. ACCOUNTING POLICIES (Continued)

c. Impairment of non-financial assets (Co11ti11ued)

An impairment loss is recognized if the carrying amount of an asset or a cash-generating unit exceeds Its recoverable amount. A cash-generating unit is the smallest identifiable asset group Iha/ generates cash flows that largely are independent from other assets. Impairment losses are recognized in profit or loss.

The recoverable amount of an asset or a cash generating unit is the greater of its value in use and its fair value less cost of disposal. in asJ·essing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or cash-generating unit.

Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amorttzation, if no impairment loss had been recognized.

Accounting policy for impairment of financial assets Is discussed in Note 3e.

d: Employee benefits

(i) Post-employment benefits

17,e obligation for post-employment benefits is calculated at the present value of estimated future benefits that the employees have earned i11 return for their services In the current and prior periods. The calculation is performed by a qualified actuary using the projected 1111if credit method.

Remeasurements of the net defined benefit liability (for example, actuarial gain and losses) are recognized immediately in other comprehensive Income.

In addition, when the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on curtailment is recognized Immediately In profit or loss.

14

PT CENTURY TEXTILE INDUSTRY Tbk CAT AT AN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATJJ."MENTS (Continued)

PERIODE SEMBlLAN BULAN Y ANO BERAKHlR PADA 31 DESEMBER 2018 DAN 20 l 7/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

3. I.KBTISAR K.EBIJAKAN AKUNT ANSI YANG PENTING (Lanjutan)

d, Imbalan kerja (Laojutan)

(ii) Imbalan kcrjll jangka panjang lainnya

Kewaiiban neto Perseroan atas imbalan kerja jangka panjang selain imbalan pascakerja adalah nilai dari irnbalan di masa depan yang timbul dari jasa yang Lelah diberikan oleh karyawan pada masa kini dan masa lalu. Perhitungan dilakukan oleh aktuaris berkualifikasi dcngan mcnggunakan metode projected unit credit. Keuntungan dan kerugian aktuarial diakui dalam laba rugi pada periode dimana mereka timbul.

e. Instrumen keuangan

Aset keuangan Perseroan terdiri dari leas dan bank, piutang usaha, piutang lainnya dan uang jaminan yang dnpat dikembalikan, yang dikatcgorikan scbagai "Pinjaman yang diberikan dun piutang". Liabilltus keuangan terdiri dari utang bank jangka pendek, utang usaha, beban akrual, liabilitas jangka pendek lainnya dan pinjuman da_ri pihak berelas! yang dikategorikan sebagai "Liabilitas keuangan yang diukur pada biaya perolehan diamortisasi".

Suatu instrumcn keuangan diakui pada saat Perscroan menjad] pihak dari ketentuan kontrak suatu instrumen keuangan. Aset keuangan dihentikan pengakuannya pada saat hak kontraktual Perseroan alas arus kas yang berasal dari asct kcuangan terscbut kadaluwarsa, yaitu ketika aset dialihkan kepada pihak lain tanpa mempertahankan kontrol atau pada saat secara substansial seluruh risiko dan manfaat telah dipindahkan. Liabilitas keuangan dihcntikan pengakuannya jika liabilitas Perseroan kadaluwarsa, atau dilepaskan atau dibatalkan.

Pada saat pengakuan awal, aset keuangan yang dikategorikan sebagai pinjaman yang diberikan dan piutang diukur pada nilai wajar, ditambah biaya transaksl yang dapat diatribusikan secara langsung, Setelah pengukuran awal, aset keuangan tersebut dicatat sebesar biaya perolehan diamortisasi, setelah dikurangi penyisihan etas rugi penurunan nilai, jlka diperlukan. Biaya perolehan dlamorttsasi diukur dengan rnendiskontokan jumlah aset dengan menggunakan suku bunga efektif, kecuali efek diskonto tidak akan slgnlfikan, Suku bunga cfektif adalah suku bunga yang mendiskontokan arus kas masu depan yang diharopkrui dengan nilai bersih tercatai, pada pengakuan awal. Elek bunga pada penerapan metode suku bunga efektif diakui dalam laba rugi,

3. SUMMARY OF SJGNIFIC4NT ACCOUNTING POLICIES (Continued)

d; Employee benefits (Continued)

(ii) Other long-term employee benefits

The Company's net obligation In respect of long term employee benefits other than post-employment benefits is the amount of fiuure benefits that employees have earned in return for their services in the current and prior periods. The calculation ls performed by a qualified actuary, using the projected unit credit method. Any actuarial gains and losses are recognized In profit or loss in the period in which they arise.

e. Financial instruments

The Company's financial assets comprise cash on hand and in banks, trade receivables, other receivables and refundable deposits, which are categorized as "Loans and receivables". Financial llahlllttes comprise short-term bank loans, trade payables, accrued expenses, other current liabilities and loan from a related party which are categorized as "Financial liabilities measured at amortized cost".

A financial instrument is recognized when the Company becomes a party to the contractual provisions of the instrument. Financial assets are derecognized when the Company's contractual rights to the cash flows from the financial assets expire, l.e. when the asset is transferred lo another party without retaining control or when substantially all risks and rewards are transferred. Financial llahillties are derecognized if the Company's obligations expire, or are discharged or cancelled

Flnanoial assets that are categorized as loans and receivables are initially measured at fair value, plus any directly attributable transaction costs. Subseque!II lo initial measurement, /hey are carried at amortized cost, net of provision for impairment, if necessary. Amortized cost is measured by discounting the asset amounts using the effective interest rate, unless the effect of discounting would be insignificant. The effective interest rate is the rate that discounts expected future cash flows to the net carrying amount, on initial recognition. Interest effect�· from the application of the ef!eclive interest method are recognized in profit or loss.

15


PERJODE SEMBILAN BULAN YANG BERAK.HIRPADA 31 DESEMBER 2018 DAN 2017/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

3. IKHTISAR KEBIJAKAN AKUNTANSI YANG PENTING (Lanjutan)

e, Jostrumen kcuaogan (Lanjutan]

Penyisihan penunman nilai diakui untuk aset keuangan yang dikategorikan sebagai pinjaman yang diberikan dan piutang bila terdapat bukti obyektif bahwa Perseroan tidak akan mampu memullhkan nilai tercatat sesuai dengan ketentuan awal dari instrumen tersebut, Jumlah kerugian penurunan nilai merupakan scllsih antara nilai tercatat aset keuangan dan nilai sekarang dari estlmasi arus kas yung didiskontc menggunakan suku bunga cfektif awal. Perubahan penyisihan penunman nilai diakui dalam laba rugl,

Pada saat pengakuan awal, utang bank jangka pendek, utang usaha, beban akrual, liabllitas jangka pcndck dan plnjaman dari pihak bcrelasi lainnya diukur pada nilai wajar dlkurangi dengan biaya transaksi yang dapat diatribusikan secara langsung, Setelah pengukuran awal, liabilltas keuangan ini diukur pada biaya perolehan diamortisasi dengan menggunakan metode suku bunga efeklif. Aset keuangan dun Iiabilitas keuangen dapal saling hapus dHD nilai netonya disajikan dalam laporan posisi keuangan jika Perseroan memiliki hak yang berkekuatan hukum untuk melakukan sallng hapus dan ada Dial uatuk menyelesaikan secara neto, alau pada saat aset tersebut direalisasi dan liabllltas tersebut diselesaikan secara simultan,

f. J>cngokuon pcndopoton Pendapatan dari penjualan barang diukur dengan nilai wajar hnbelan yang diterima atau dapat dlterima olch Perseroan, setelah dikurangi retur penjualan dan diskoa dagang, Pendapatan diakui ketika terdapat bukti persuasif bahwa rislko dan manfaat kcpemllikan barang secara signifikan lclah dipindahkan kepada pelanggan, kemunglcinan besar akan terdapat pemulihan imbalan, biaya ierkai; dan retur barang dapat diukur sccara andal, dan tidak ada lagi kelerkaitan manajemen dengan barang tersebut. Bila besar kemungkinannya bahwa diskon akan dlberikan dan jumlahoya dapat diukur sccaru andal, diskon diakui sebagai pengurang pendapatan ketika penjualan diakul.

Perplndahan rislko dan rnanfaat kepcmillkan barang bervariasi tergantuag pada setiap ketentuan dalam kontrak penjualan. Untuk penluelan domestik, pcrpindaban umumnya terjadi pada saat barang dikirim ke pelanggan; sedangkan untuk penjualan ekspor, perpindahan risiko dan manfaat umumnya terjadi pada saat baning dimuat kc dalam kapal, Uang muka yang diterima dari pelanggan, atas pengiriman barang yang belum terjadi, dicatat sebagai uang muka drui pelanggan.


e. Financial instruments (Continued)

An impairment provision ls recognized for financial assets that are categorized as loans and receivables when there is objective evidence that the Company wlll not be able to recover the carrying amounts according lo the original terms of the instrument. The amount of the impairment loss is the difference between the carrying amount of the financial asset and the present value of its estimated future cash flows, discounted at the original effective interest rate. Changes in the impairment pr<>vision are recognized in profit or loss.

Short-term bank loans, trade payables, accrued expenses, other current liabilities and loan from a related party are initially measured at fair value less any directly attributable transaction costs. Subsequent to initial measurement, these financial liabilities are measured al amortized cost using the effective interest method.

Financial assets and financial liabilities are offset and the net amount is presented in the statement of financial position when there is a legal right of offset and there is an intention lo settle on a net basts, or when the asset Is realized and the liability settled slmultaneousiy.

f. Reve11ue recognition Revenue from sales of goods is measured at the fair value of the consideration received or receivable, net of returns and trade discounts. Revenue is recognized when per:masive evidence exists that significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, the associated costs and possible return of goods can be measured reliably, and there is no continuing management involvement with the goodr. If It Is probable that discounts wt/I be granted and the amount can be measured reliably, lhe discounts are recognized as a reduction of revenue when the sales are recognized. Transfer of risk and rewards of goods vary depending on the Individual terms of the contract of sale. For domestic sales, the transfer usually occurs when the product is sent to the customer; while for export sales, the transfer of risks and rewards generally occur�· when goods are loaded onto the ship.

Amount received in advance from customers, for which the delivery of goods have not occurred. are recorded as advances from customers.

16

PT CENTURY TEXTILE INDUSTRY Tbk CAT ATAN ATAS LA PO RAN KEUANGAN (Lanjutan)/NOTES' TO THE FINANCIA t: STATEMENTS (Continued)

PERIODESEMBTLAN BULAN YANG BERAK.HIRPADA 31 DESEMBER2018 DAN 2011/NJNEMONTH PERIOD ENDED 31 DECEMBER 20/8 AND 2017

3. TKHTISAR KEBIJAKAN AKUNTANSI YANG PENTING (Lanjutan)

g. Pcujabarao untuk transaksi daJam mata uang selain DolarAS

Transaksi dalam mata uang selain Dolar AS dijabarkan ke dulam matu uung fungsional Perseroan (Dolar AS) dengan menggunakan ku.rs yang bcrlaku pada tanggal transaksl. Aset dan liabilitas moneter dalnm mata uang selain Dolar AS dijabarkan kembali ke dalam rnata uang fungsional dengan menggunakan kurs yang berlaku pada tanggal pelaporan, Laba atau rugi kurs dari aset dan liabilitas moneier merupakan sclislh antara biaya perolehan dlamortisasi yang diukur dalam mata uang fungsional pada awal periode, disesuaikan dengan suku bunga efcktif dan pembayaran selama periode berjalan, dan biayn perolehan dlamortisasl yang diukur dalam mata uang selain Dolar AS yang dijabarkan dengan menggunakan kurs pada tanggal pelaporan.

Aset dan liabilitas non-moneter dalam maw. uang sclain Dolar AS yang diukur pada nilai historis dijabarkan dengen mcngguuakan kurs yang berlaku pada tanggal transaksi.

Laba dun rugi kurs alas penjabaran kembali aset dan liabilitas keuangan yang timbul duri aktivltas operasi disajikan di laha rugi,

h. Pendapatan kcuangao dan bi11y11 keuangan

Pendapatan keuangan terdiri dari peadapaten bunga dari dana yang diinvestasikan. Biaya keuangan terdiri dari beban bunga alas pinjaman.

Laba dan rugi kurs dilaporkan neto sebagai pendapatan keuaagan atau biaya kcuangan tergantung pada apakah jumlah pergerakan kurs berada puda laba neio atau rugi neto.

Blaya pinjaman yang tidak secara langsung dapat diatribusikan kepada perolehan, konstruksi atau produksi suatu aset tertentu yang mcrncnuhi syarat diakui sebagai laba atau rugi dengan menggunakan metode suku bunga efektif.


g. Translation for transactions in currencies other titan US Dollar

Transactions in currencies other than US Dollar are translated to the Company's functlonal currency (US Dollar) at the rates of exchange prevailing at transaction date. Monetary assets and llabllltles denominated in currencies other than US Dollar are retranslated to the functional currency at the exchange rates at the reporting date. The currency exchange gain or loss on monetary items is the difference between amortized cost measured in the functional currency at the beginning of the period as adjusted for effective interest rate and payments during the period, and the amortized cost measured in currencies other than US Dollar, as translated al the exchange rates at reporting date.

Non-monetary assets and liabilities denominated in currencies other than US Dollar that are measured at historical cost are translated using the exchange rates at the date of transaction.

Currency exchange gains and losses 011 retranslation of financial assets and liabilities that arise from operating activities are generally recognized In profit or loss.

II. Finance income and finance costs

Finance income comprise interest income on funds invested. Finance costs comprise interest expense on borrowings.

Currency exchange gains and losses are reported on a net basis as either finance income or finance cost depending on whether exchange currency movements amount to a net gain or a net loss.

Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss using the effective interest method.

17

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lmtjutan)INOTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBILAN BULAN YANG BERAKHTR PADA 31 DESEMBER 2018 DAN 2017/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

3. IKHTISAR KEBIJAKAN AKO NT ANSI YANG PENTING (Laniutan)

i, Pajak penghasilan

Beban pajak pengbasilan terdiri dari pajak kini dan pajak penghasllan badan tangguhan, Pajak kini dan pajak tangguhan diukui dalam laba rugi, kecuali jika pajak tersebut terkait dengan l.lilnsaksi yang diakui Iangsung dalam ekuitas atau dalam penghasilan komprehensiflain.

Paja.k kini adalah utang pajak atau pajak yang diharapkan dapat dikembalikan aias penghasilaa atau rugi keno pejak selama tahun berjalan, dengan menggunakan tarif pajak yang sccara substantif berlaku pada tanggal pelaporan, don termasuk penycsuaian terhadap provisi pajak tahun tahun sebelumnya baik untuk menyesuaikan provisi tersebut dengan pajak penghasilan yang dilaporkan di Surat Pcmberitahuan Tahunan ("SPT") pajak penghasilan badan, atau untuk memperhitungkan perbedaan yang timbul dari ketetapan pajak. Pajak kinl terutang atau yang dapat dikembalikan diukur menggunakan estimasl terbaik atas jumlah yang diharapkan dibayar atau diterima, dengan mempertimbangkan ketidakpastian terkait kompleksitas peraturan pajak,

Pajak tangguhan diakul schubungan dcngan perbedaan temperer antara nilal terearat aset dan liabilitas untuk tujuan pelaporan keuangan, dan nilai ya.rig digunakan untuk tujuan perpajakan. Pajak tangguhan diukur dengan mengunakan tarif pajak yang diharapkan untuk diterapkun aias perbedaan temperer pada saat petnbalikan, berdasarkan peraturan yang berlaku atau sccara substantif berlaku pada tanggal pelaporan. Metode ini juga mengharuskan pcngakuan manfaat pajak rnasa depan, seperti rugi pajak belum dtkornpensasi, 11p11bil11 besar kemungkinan manfaat pajak tersebut dapat direalisasi,

Dalam menentukan jumlah pajak kini dan paiak tangguhan, Perseroan memperhnungkna dampak dari posisi pajak yang tidak pasti dan setiap tambahan pajak dan denda,

Aset pajak tuogguhan dlk1!ii pads sctiap tanggal pelaporan dan dikurangi apabila tidak ada lagi kemungkinan manfaat pajak tersebut akan direatisasi, pengurangan tersebut akan dibalik ketika kemungkinan laba kena pajak masa depan mcningkat.

Aset dan liabilitas pajak tangguhan disajikan sating hapus di laporan posisi keuangan, kecuali aset dan liabilitas pajak tangguhan untuk entitas yang berbeda, sesuai dengan peoyajian aset dan llabilitas pajak kini.

3. SUMMARY OF SIGMFICANT ACCOUNTING POLICIES (Continued)

i: Income tax

Income tax expense comprises current and deferred corporate Income tax. Current tax and deferred tax are recognized in profit or loss, except to the extent that they relate to items recognized directly in equity or in other comprehensive income.

Current tax Is the expected tax payable or refundable on taxable income or loss for the year, using tax rates substantively enacted as of the reporting date, and Includes true-up adjustments made to the previous years' tax provisions either to reconcile them with the income tax reported in annual tax returns (''SPT''), or lo account/or differences arising from tax assessments. Current tax payable or refundable is measured using the best estimate of the amount expected to be paid or received. taking into consideration the uncertainty associated with the complexity of tax regulations.

Deferred tax ls recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date. This method also requires the recognition of future tax benefits, such as tax loss carry forwards, to the extent that realization of such benefits is probable.

In determining the amount of current and deferred tax, the Company takes into account the impact of uncertain lax positions and any additional taxes and penalties.

Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related lax benefit will be realized; such reductions are reversed when the probability of future taxable profits Improves.

Deferred tax assets and liabilities are offset In the statement of financial po�'ilion, excep! if these are for diflerent legal entitles, In the same manner the current tax assets and liabilities are presented.

18

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Conttnued)

PERIODE SEM.BlLAN BULAN YANG BERAKJURPADA 31 DESEMBER2018 DAN 2017/NLNEMONTH PERIOD ENDED 3/ DECEMBER 20/8 AND 2017

3. IKHTISAR KEBIJAKAN AKUNTANSI YANG PENTING (Lanjutan)

j. Loba/rugi per sahom

Laba/rugi per saham dasar dlhitung dcngan mcmbagi lnbatrugi berslh tahun berjalan yang dapat dlatribusikan kcpada pemilik dcngan rata-rata tcrtimbang jumlah saham bcrcdar/ditempatkan dan disetor pcnuh dalarn tahun yang bersangkutan.

k. lnformasl segmen eperast

Informasi segmen opcrasi disejikan sccara konsisten menurut informasi internal yang digunakan oleh pengambil keputusan opcraslonal dalam mcngalokasikan sumbcr daya dan menilai kinerja segmen operas! Pcrscroan,

Segmen operasi adalah komponen dari entitas yang mclakukan aktivitas bisnis yang rnana rnemperoleh pendapatan dan menimbulkan beban, tennasuk pendapatan dan beban terkait transaksi dengan komponen lain dalam entitas yang sama, yang basil operasinya dikaji ulang secara berkala oleh pengarnbil keputusan operasional untuk membuat keputusan tentang sumber daya yang dialokaslkan pada segmen tersebut dan menilai kinerjanya; dan tersedia informasi keuangan yang dapat dipisahkan. Pcrscroan mengidentifikaslkan hanya rnemiliki satu scgmcn usaha yaitu tekstil.

I. Transaksl dengan pihak-pihok berelasl

Dalam laporan keuangan ini, istilah pihak berelasi yang digunakan sesuai dengan PSAK No. 7, Pengungkapan Pihak-Pihak Berelasi. Seluruh hubungan, transaksi dan saldo yang signiflkan dengan pihak berelasi, diungkapkan dalam catatan atas laporan keuangan,

4. INFORMASI PfDAK BERELASf

Perseroan dikendalikan sepenuhnya oleh 'Toray Industries Jnc., Jepang,

11. Ikhtisar transaksi Perseroan dengan pihak-pihak berelasi dan persentasenya terhadap total pendapataa dan beban terkait, adalah sebagai berikut:

2018


j. Earnings/loss par share Basic of earnings/loss per share are computed by dividing net profit/loss for the year attributable to equity holder by the weighted average number of outstanding/issued and fully paid-up shares during the year.

k. Operating segment information

Operating segment information is reported consistently based on the internal reporting used by the chief operating decision maker in a/locating resources and assessing performance of the Company's operating segments.

An operating segment is a component of an entity that engages in business activities from which it may earn revenues and Incur expenses, including revenues and e.:rpenses relating to transactions with other components of the same entity, whose operating results are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess Its performance, and for which discrete financial information is available. The Company identifies only having one business segment, which is textile.

I. Related party transactions

/11 these financial statements, the related party terms used are in accordance with !'SAK No. 7, Related Party Disclosures. All relattonship, significant transactions and balances with related parties, are disclosed in the notes to the financial statements.

4, BELA TED PARTY INFORMATION

The Company is ultimately controlled by Toray Industries Inc., Japan.

a. Summary of the Company's transactions with the related parties and its percentage to the Iota/ related income or expenses, was as follows:

2017 USO % USO %

Pcnjualan (Catalan 18): Entitas induk utama Entitas dengan pengaruh

signifikan terhadap Perseroan Entitas sepengendali · Pihak berelasi lainnya

75.587

195.677 1.341.621 8.336.740 9.949.025

0,3

0,7 4,5

28,0 33,4

220.251 851.967

5.569.703 6.641.922

0,0 0,9 3,5

22,9 -:rr-:r

Sales (Note 18): Ultimate parent entity

Entity with significant Influence over the Company

Entitles under common control Other related parties

19

PT CENTURY TEXTil..E INDUSTRY Tbk CAT AT AN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Conlinued)

PERlODE SEMBlLAN BULAN Y ANO .BERAK.HlR P ADA 31 DES EMBER 2018 DAN 20 l 7/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

. . .

4, INFORMASI PIHAK BERELASI (Lanjutan)

a. Ikhtisar transaksi Perseroan dengan pihak-pihek berelasi dan persentasenya terhadap total pendapalan dan beban terkait, adalah sebagal berikut: (Lanjutan)

2018

4. RELATED PARTY INFORMATION (Continued)

a. Summary of the Company's transactions with the related parties and Us percentage to the total related income or expenses, was as follows: (Continued)

2017 USD

Pembclian persediaan: Entitas dengan pengaruh

siw1ifikan lerhadop Perseroan 1.162.317 6,5 Entitas sepengendali 1.897.357 10,6 Pihak berelasi lainnya 8.537.374 47,7

11.597.047 64,8 Pembellan aset tetap:

Entitas dengan gengaruh signifikan tcr adap Perseroan 0,0

Entitas scpengendali 0,0 .. 0,0

Kornisi penjualan: Entitas induk utama 49.019 7,1 Entitas dengan pengaruh

signifikan terhadap Perseroan 102.564 14,8 Entitas sepengendali 24.631 3,5 Pihak beretasl lalnnyu 213.325 30,7

389.539 56,T Jasa konsultasi dan pendukung

lainnya dari cntitas sepengcndali (Cauuan 24c) 310.643 57.6

Biaya keuangan ams pinjaman dari entitas dengan pengaruh signifikflll terhadap Perscroan 292.162 34.4

USO

142.547 1.417.795 5.885.207 7.445.549

l.464 3.916.293 3.917.757

87.501 3.752

114,229 205.482

346.401

139.177

%

1,1 10,7 44,3 56,l

0,0 �

53,3

0,0

15,2 0,7

19,9 36,5

36.5

28.7

Purchases of inventories: Enlity with significant influence

over the Company Entities under common control

Other related parties

Purchases of 'fixed assets: Entity with significant influence

over the Company Entities under common control

Safes commissions: Ultimate parent entity

Entity with significant influence over the Company

Entity under common control Other related party

Consultation and other supporting services from ent ities under common control (Note 24c)

Finance cost from loan from entity with significant influence

over the Company

lkhtisar saldo Perseroan dengan pihak-pihak berelasi dan persentasenxa terhadap total aset dan total liabilitas, adalah sebagai berikut: ·

2018 USO %

Saldo piutang usahe (Catetan 6): Entitas dengan fuengaruh

signifikan ter adap Perseroan 0,0 Bnutas scpcugendali 118.078 1,5 Pihek berelasi Iainnya 3.374.812 42,7

3.492.890 44,2 Saldo piutang lainnya:

Entitas induk utama 1.186 2,6 Entitas sepengendali 27.987 60,5 Pihak bcrclasi lainnya 0,0

29.173 63,1 Saldo utang usaha (Catatan 11 ):

Entitas dengan pengaruh signifikan terhadap Pcrscroan 726.877 12,9

Entitas sepengendali 104.451 J,9 Pihak berelasl Iainnya 1.801.851 32,0

2.633.179 4o,8

Summary of the Company's balances with the related parties and its percentage lo the total assets and total liabilities, was as follows:

2017 USO %

Balance of trade receivables (Note 6): Entity with signjfecant Influence

0,0 over t e Company 187.609 2,7 Entity under common control

1.700.183 24,7 Other related parties 1.887.792 27,4

Balance of other receivables: 0,0 Ultimate parent entity

370.809 9,6 Entities under com111011 control o,o Other related party 370.809 �

Balance of trade payables (Note I I): Entity with significant influence

281.111 5,5 over the Company 140.281 2,8 Entitles under common control

1.360.517 26,8 Other related party 1.781.909 35,T

20

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS T�APORAN KEUANGAN (Lanjutan)/NOT:&5' TO THEFINANCIALSTA1'EMEN1'S (Conttnued)

PERI ODE SEMB!LAN BULAN YANG BERAKHTR PADA 31 DESEMBER 2018 DAN 2011/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

4. INFORMASI PIHAK BERELASI (Lanjutan)

a- Ikhtisar transaksi Perseroan dengan pihak-pihak berclasi dan persentasenya terhadap total asct dan total liabilitas, adalah scbagai bcrikut: (Laajutan)

2018

·- -·


a. Summary of the Company's balances with the related parties and its percentage to the total assets and total liabilities, was as follows: (Continued)

2017

Saldo beban akrual (Catatan 13): Entitas induk utama Entltas dengan pengarub

signiflkan terhadap Perseroan Entilas sepengendali Pihak berelasi lainnya

USD %

129.564 8,3

113.022 7,2 20.933 l,3 90.289 5,8

__ 3;..,, 53;.;., .&...;0.;... 9 22,6

USD

249.955

15.298 46.755

312.009

% Balance of accrued expenses (Note I 3):

12,0 Ultimate parent entity Entity with significant influence

over the Company Entitles under common control

Other related party

0,0 0,7 2,2

14,9

Saldo pinjaman (Catatan 14 ): Bntitas dengan pengaruh

signifikan terhadap Perseroan 12.500.000 100,0 9.500.000 100,0

Balance of loans (Catalan 14): Entity with significant influence

over the Company

b. Sifat hubungan dan jcnis iransaksi dengan pihak-pihak bcrelasi ndaluh sebagai berikur;

b. The nature of relationship and transactions with related parties was as follows:

Sifbt hubungan/Nature o/relatlonshlp Entitas induk utama/Ultimate parent entity

Entitas dcngan pcngaruh signilikan/ Entity with significan! influence

Entitas sepengendalj' Entity under common control

Pihak berelasiJRelated party

Toray Industries Inc., Jepfm't!/Japan

Penfabric Sdn, Berhad, Malaysia

PT Indonesia Synthetic Textile Mills

PT Indonesia Toray Synthetic

Toray lnternational lnc., Jepang/ Japan

Toray Fibers (Nantong) Co., Ltd, Cina/China Chori Co., Ltd., Jepaii'{/Japan

PT Jabaro lnlemational

Jenis transaksi/Nature of transaction

PenJuaJan persediaan, komisi penjualan, pembelian aset tctap dan janiinan perusahaan atas utang bMk!Sales of inventories, sales commission, purchase of fixed assets and corporate guarantee 011 bank loans

Penjualan dan pembclian persediaan, pembclian aset leUlp, komisi pcnjualan, don pinjaman jangka pai1jang/Sa/es and purchase of inventories, purchase of fixed assets, sales commission and long-term loan Pcmbelian aset leUlp/ Purchase off lxed assets

Pcmbclian perscdiaan!Purchase of Inventories Penjualan dan pembellan persediaan, komisi penjualan, dan pembelian aset teiap/Sales and purchase of inventories, sales commission, and purchase of fixed assets Pembelian persediaan/ Purchase of inventories Penjualan pcrscdiaan/Sales of inventories Jasa agen perjalanan/Travel agency services

21

PT CENTURY TEXTll,E INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO 111E FlNANCJAL STATEMENTS (Continued)

PERlODE SEMBILAN BULAN YANG BERAKH1R PADA 31 DESEMBER 2018 DAN 2017/NlNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

4. INFORMAST PffiAK BERELASI (Lanjutan)

b. Sifnt hubungan dan jenis transaksi dengan pihak-pihak bcrelasi adalab sebagai berikut: (Lanjutan) -


b. The nature of relationship and transactions with related parties was as follows: (Continued)

Sifat hubuagan/Nalure of relationship Pihak berelasi/ Related party

Entitas sepengendali/ PT Toray Industries Indonesia Enlily under common control

PT Toray International Indonesia

PT Easterntex

Tokai Senko K.K., Jepang/Japan

Toray Malaysia Systems Solution Sdn. Berhad, Malaysia

PT OST Fibre Industries

Jcnis transaksi!Nalure of transaction Jasa konsultasi dan pendukung lainnya/ Consul/a/ion and other supporting services Penjualan perscdiaaa, aset tctap dan lirnbah, pembelian persediaan/Sa/es of Inventories, fixed assets and waste, purchase of Inventories Penjualan dan pcmbelian persediaan/ Safes and purchase of inventories Pcmbclian perscdinan!Purchase of inventories Pembelian aset tetapll'urchase of 'fixed assets Penjualan dan pembelian persediaan/ Sales and purchase of Inventories

Pihek berelasi lain.nya/ Other related party

PT Warga Djaja

PT Wisnu Tjandra

PT Chori Iadonesia

Pcnlualan persediaan dan komisi penjualan/ Safes of inventories and sales commission Pcmbellan persedinan!P11rchase of inventories Penjualan dan pembelian persedlaan/ Safes and purchase of inventories

Personil manalcmcn inti/ Key management employees

c. Kompensasi personil manqjemen inti

Gaji dun Imbalan keria jangka pendek lainnya yang dibayarkan atau terutang kepada personil manajemen inti pada tahun berakhir 31 Desember 2018 dan 2017, masing masing sejumlah USD 984.765 dan USO J.331.252.

5. KAS DAN BANK

Gaji dan lmbulun kerjajangka pendek lainnya/Safaries and other short-term benefits

c. Key management employees' compensation Salaries and other short-term benefiis paid or payable to key management personnel for the years ended 31 December 2018 and 2017 were amounted lo USD 984,765 and USD 1.331.252, respectively.

5. CASH ON HAND AND IN BANKS

Komisaris dan direksi/ Commissioners and directors

Kas; DolarAS Rupiah Yen Jepang

Total kas

31 De.sember 2018/ 31 December 2018

USO

1.009 1.858

284 3.151

31 Maret 2018/ 30 March 2018

USD

179 4.935

106 5.220

Cash 011 hand: USD

Rupiah JPY

Total cash on hand

22

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORA.N KEUANGAN (Lanjutan)INOTES TO THE FINANCIAL STATEMENTS (Continued)

PERlODESEMBILAN BULAN YANG BERAKHI.RPADA.31 DESEMBER2018 DAN 2017/NINEMONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

5. KAS DAN BANK (Lanjutan) 5. CASH ON HAND AND IN BANKS (Continued)

31 Maret 2018/ 31 March 2018

5.858

23.299

612.520

Cash in banks: USD accounts:

The Bank of Tokyo-Mitsubishi I 67.958 UFJ Ltd., Jakarta

PT Bank Sumitomo Mitsui 108.715 Indonesia

I 1.725 Citibank Jakarta branch Rupiah accounts:

The Bank of Tokyo-Mitsubishi 133. 76 I UFJ us: Jakarta 93.958 Citibank Jakarta branch 65.972 PT Bank Mandiri (Persero) Tbk

PT Bank Sumitomo Mitsui 1.274 Indonesia

JPY accounts: PT Bank Sumitomo Mitsui

Indonesia The Bank of Tokyo-Mitsubishi

UP.I ua, Jakarta Total cash in banks

USD

1.855

520

67.139 89.183 19.990

1.215

354.507

20.117 11.598

566.124

3 I Desember 2018/ 31 December 2018

USO Kas di bank:

Akun Dolar AS: T11e Bank ofTokyo-Mitsubishi

UFJ Ltd., Jakarta PT Bank Sumitomo Mitsui

Indonesia Citibank cabang Jakarta

Akun Rupiah: The Bank of Tokyo-Mitsubishi

UFJ Ltd., Jakarta Citibank cabang Jakarta PT J3nnk Mandiri (Persero) Tbk PT Bank Sumitomo Mitsui

Indonesia Akun Yen Jepang:

PT Bank Sumitomo Mitsui Indonesia

The Bank ofTokyo-Mitsubislti UFJ Ltd., Jakarta

Total kas di bank

569.275 617.740

Tidak terdapat saldo kas dan bank yang ditempatkan pada pihak berelasi. · ·

Per 31 Desernber 20 I 8 dan 3 I Maret 2018, Perseroan tidak menjaminkan kas dan bank.

There arc no cash on hand and in banks placed with related parties.

The Company did not pledge its cash on hand and in banks as of JI December 2018 and 31 March 2018.

6. PIUTANG USAHA 6. TllADE RECEJV ABLES

Piutang usaha pada pihak ketiga: Dikurangi: penyisihan kerugian

penurunan nllai piutang usaha pada pihak kctiga

31 Desember 20 I 8/ 3/ December 20/8

USD 4.869.813

(454.657) 4.415.156

31 Murel 2018/ 31 March 20/8

USD 5.590.407

(454.657) 5.135.750

Trade receivables from third parttes; Less: provision for impairment loss of

trade receivables from third parties

Piutang usaha pada pihak berelasi: PT Warga Djaja PT Chori Indonesia PT Easterntex Toray International Inc., Jepang Toray Industries Ine., Jepang Pcnfabric Sdn. Berhad, Malaysia

2.818.049 556.763 I 18.078

1.241.657 136.924

88.365 6.945 2.463

Trade receivables from related parties: PT Warga Djaja

PT Chori Indonesia PT Eastern/ex

Toray Iniernatlonal Inc., Japan Toray Industries Inc., Japan

Pen/a bric Sdn. Berhad, Malaysia 3.492.890 1.476.354

7.908.047 6.612.104 Rincian piutang usaha dulam mate

uang: DolarAS Rupiah

3.953.379 3.954.668 7.908.047

4.129.638 2.482.466 6.612.104

Trade receivables by currency type: USD

Rupiah

23

PT CENTURY TEXTILE INDUSTRY Tbk CAT AT AN AT AS LAPORAN K.EUANGAN (Lanj ut.an)INOTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBfLAN BULAN YANG BERAKHJRPADA 31 DESEMBER.2018 DAN 2011/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

6. PIUTANG USAHA (Lanjutan) 6. TRADE RECEIVABLES (Continued)

Rincian piutang usaha berdasarkan umur piutang ;

Lan car Lewat I • 30 hari Lewat 31 • 60 hari Lewat 61 • 90 hari Lewat lebih dari 90 liari

31 Desembcr 2018/ 31 December 2018

l)SD

6.996.105 845.201

66.741

7.908.047

31 Marel2018/ 31 March 2018

O'SD

5.818.173 474.173 243.969

4 l.306 34.483

6.612.104

Trade receivables by aging Of receivables :

Current Past due 1 • 30 days

Past due 31 • 60 days Past due 61 • 90 days Past due over 90 days

Berdasarkan penelaahannya atas status masing-masing debitur pada akhir tahun, manajemen berkeyakinan bahwa jurnJah penyisihan kerugian penurunan nilai alas piutang usaha tclah memadai. Per 31 Desember 2018 dan 31 Maret 2018, Perseroan tidak menjarninkan piutang usahanya,

7. PERSEDIAAN

Based on the evaluation of the status of each debtor al year end, management believes that provision for Impairment loss on trade receivables is adequate.

The Company did 1101 pledge its trade receivables as of 31 December 20/8 and 3/ March 2018.

7. INVENTOR/ES

Barangjadi Barang dalam pengolahan Behan baku

Bahan pembantu dan keperluan pabrik Barang dalam perjalanan

Dikurangi: penyisihan kcrugian penurunan nilai pcrscdiaan

3 I Desember 2018/ 31 Maret 2018/ 31 December 2018 31 March 2018

USD USD 2.783.572 2.198.810 2.515.303 1.925.089

481.700 768.742

1.345.930 1.257.283 463.838 131.413

7.590.343 6.281.337

(67.371) (58.42 l) 7.522.972 6.222.916

31 Desember 2018/ 31 Marel2018/ 31 December 20/8 31 March 2018

USD USD

Finished goods Work in process

Raw materials Supplementary materials and factory

supplies Goods in transit

less: provision/or Impairment loss of inventories

Mutasl penyisihan kerugian penurunan nilai pcrsediaan adalah sebagai berikut: Seldo awal Penambahan Pcngurangan Saldo akhir

58.421 358.150

(349.200) 67.371

162.153 617.479

(721.21 l) 58.421

Movement of provision for impairment loss of inventories was as follows:

Begi1111i11g balance Addition

Deduction Ending balance

Manajemen berkeyakinan bahwa penyisihan kerugian penurunan nilai persediaan tersebut adalah cukup untuk menutupi kernungkinan kerugian persediaan. Per 31 Maret 2018, scluruh persediaan diasuransikan terhadap risiko kebakaran dan kcrusuhan dengan total pertanggungan sebesar USD 5.500.000 (31 Maret 2017; lJSD 7.000.000) pada PT Asuransl MSIG Indonesia. Manajemen berkeyakinan bahwa jumJah pcrtanggungan asuransi ini mcmadai. Per 31 Oesember 2018 dan 31 Maret 2018, Perseroan tidak menjaminkan persediaannya,

Management believes that the provision for impairment loss of Inventories was adequate to cover possible losses on inventories. As of 31 March 2018, all Inventories were insured against the risk of fire and riots with a total coverage amount of USD J,500,000 (31 March 2017: USD 7,000,000) at PT Asuransi MSIG Indonesia. Management believes that the total Insurance coverage is adequate.

The Company did not pledge its inventories as of 31 December 20/8 and 31 March 2018.

24

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STA1'EMENTS (Continued)

PERlODE SEMBILAN BULAN YANG BERAKHIRPADA 31 DESEMBER2018 DAN 2011/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

8. KLAIM PAJAK PENGHASJLAN

31 Desember 2018/ 31 December 2018

USD

8. CLAIMS FOR INCOME TAX REFUNDS

31 Maret 2018/ 3/ March 20/8

USD Kelebihan pcmbayurnn pajuk penghasilen

badan: Tahun pajak 2017 'l'ahun pajak 2016 Tahun pajak 2015

Bagian tidak lanear Bagian lancar

177.108

91.080 268.188

(268.188)

177.108

91.080 268.188

(268.188)

Overpayment of corporate income tax: Fiscal year 2017 Fiscal year 2016 Fiscal year 20/ J

Non current portion Current portion

9. ASETTETAP 9. FIXED ASSETS

31 Desember 2018/J/ December 2()/8 Saldoawal/ Saldo akhir/ lJegin11i11g Penambahan/ Pengurangan/ ReklasifikasV E11di11g balance Add It/om Deductions Reclassification balance USO USO USO USD USD

Biayil perolebon: Cost: Tnnnh 2.775.051 2.775.051 Land Bangunan ! 1,482,329 2.685.711 14.168,040 B111/d/11gs Mesin dan peralatan Plant machlnery ana

pabrik 37.299.783 (142.167) 10.781.546 47.939.161 equipment Perkakas, perlengkapan Tools, [umitun: and

dan perabot 1.516.402 3.821 1.520.224 fixtures Kendaraan 312.308 33.278 345.585 Vehicles

53.385.873 (142.167) 13.504,356 66.748.061 Aset tetap dalam Fixed assets 1111der

pcmbangunan 13.904.256 l.111.635 ( 13.504.356) 1.511.535 construcuon 67,290.129 1.111.635 ....... (142.167) .. 68.259.598 ........................ ............................. .. .......... _ •....•.......... . .........................

Akurnulasi pcnyusutanr Accumulated depreciation: Bangunan (7.510.898) (249.o:m (7 .654.538) Buildings Mesin dan peralatan Pla111 machinery and

pabrik (29.631.479) (l .709.989) 142.167 (30.720.226) equipment Perkakas, perlcngkapan Tools, ji1rnltt1re and

dun perabot (773.908) (70.371) (844.280) futures Kencl11lll!ln (285.578) (11.432) (297.009) Vehicles

(�8:201.863) .... (W40,824) .. 142.167 ... (40.100.520)_ .......................... '"'''''''"""'"'u"n•••

Nilnl tercatat 29.088.266 28.159.078 Carry/11g amount

25

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERI ODE SEMBH,AN BULAN YANG BERAKHIR PADA 31 DESEMBER 2018 DAN 2017 /NINE MONTH PERIOD ENDED 3/ DECEMBER 2018 AND 2017

9. ASET TETAP (Laniutan) 9. FIXED ASSETS (Continued)

31 Mprct2018/3/ Marc/120/8 Saldo awal/ Saldo akhir/ Begi1111i11g Penambuhun/ Pengurungun/ Rekluslfikusi/ Ending

balance Additions D;:ductlons R;:cfasslflca1lon balance USO USO USO lJSO USD

Bloye pcrolcboo: Cost: Tanah 2.873.606 (98.555) 2.175.051 land B1mgunan 10.736.602 745.727 11.482.329 Buildings Mesin den peralatan Plant machinery and

pabrik 42.490.228 (5.569.474) 379.029 37.299.783 equipment Perkakas, perlengkapan Tools.furniture and

dan perabot 1.454.212 (Sll.592) 573.782 1.516.402 fixtures Kendaraan 388,841 (94,565) 18,032 312.308 Vehicles

57.943.489 (6.274.186) 1.716.570 53.385.873 Aset tetap dalam Fixed assets 1111der

pcrnbangunan 5.695.904 9.924.922 {1.716.570) 13.904.256 construction 63.639.393 9.924.922 ..... (6.274.1.86) 67.290.129 ........................ .......................... . ............................ ..........................

Akumulasi pcnyusutan: Accumulated depreclalfon: Bangunan (7.374.991) (135.907) (7.510.898) Bt1ilcli11gs Mesin dan peralatan Plant machinery and

pabrlk (33.346.493) {1.785.886) 5.500.900 (29.631.479) cq11ip111e111 Perkakas, pcrlcngkapan Tools, furniture and

dan perabot (1.205.710) (64.591) 496.393 (773.908) fixtures Kcndaraan (368,570) (11.573) 94.565 (285.578) Ve/lie/cs

. (42.295.764) .... ..<t.997 .957). 6.091.858 ..,<38.201,-863), .......................... ............................. Nl!al tertlll!!t 21,343.629 29.088.266 Carryh1g amount

26


PERIODE SEMBILAN BULAN YANG BERAKHIR PADA 31 DESEMBER 2018 DAN 2017/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

9. ASET TETAP (Laojutan)

31 Desember 2018/ 31 .December 20/8

USO

9. FIXED ASSETS (Continued)

31 Maret2018/ 31 March 2018

USD Penyusutan dibcbankan pada:

Biaya produksl (Catatan 19) Beban administrast (Cutatan 21)

2.038.054 2.770

2.040.824

1.993.758 4.199

1.997.957

Depreciation expenses are charged to: Production costs (Note 19)

Administrative expenses (Nole 21)

Rincian dari laba atas penjualan aset tetap adalah sebagai berikut:

31 Desember 2018/ 3/ December 2018

USD

The details of gain on sale of fixed assets was as follows;

31 Maret 2018/ 31 March 2018

USD

Ni hti tercatat Hasil penjualun aset tetap Rugi (laba) atas penjualan aset tetap,

neto

(1.144)

(1.144)

182.328 (8.846)

173.482

Carrying amount Proceeds from sale offlxed assets

Loss (gain) 011 sale of 'fixed assets, net

Pada tanggal 31 Desember 2018, pernbelian aset tetap yang masih terutang adalah sebesar USD 131.576 (31 Maret 2018: USD 1.363.664).

31 Desember 2018/ 31 December 20/8

USD

As of 31 December 2018, outstanding payable for purchases of fixed assets were amounted to USD /31,576 (31 March 2018: USD 1,363,664).

31 Maret 2018/ 31 March 2018

USD Asel tetap dalam pembangunan terdiri

dari: Mesin dan peralatan pabrik Bangunan Lainnya

Persentase penyelesaian

1.294.800 51.053

165.682 1.511.535

40%-95%

10.944.704 2.925.135

34.417 13.904.256

10%-90%

Fixed assets under construction consist of·

Plant machinery and equipment Building

Others

Co111p/e1io11 percentage

Per 31 Dcscmber 2018, munajemen telah mengkaji ulang esumas! masa manfaat aset tetap dan hasilnya sudah tepat, Masa manfaat dldasarkan pada periode estimasi dimana manfaat ekonomi rnasa depan akan dipcroleh Perseroan dengan mempertimbangkan kcaduan atau perisuwa yang tidak terduga,

Asct tctap dalam pembangunan tersebut diperkirakan akan selesai dun direklasifikasi ke masing-masing kelompok asct pada tahun berikutnya.

Pads tanggal 31 Desember 2018 and 31 Maret 2018, blaya perolchan aset tetap yang telah disusutkan penuh tapi masih digunakan maslng-rnasing sebesar USD 27.909.612 dnn USD 22.633.002.

As of 31 December 2018, management has reviewed the estimated useful lives of fixed assets and has found them to be appropriate. The useful lives are based on the estimated period over which full/re economic benefits will be received by the Company, taking into account any u11expecled adverse changes in circumstances or events.

The fixed assets under construction were estimated to be completed and reclassified into each group of assets in the following year,

As of 31 December 2018 and 31 March 2018, the costs of fixed assets, which have been fi,lly depreciated but were still in use, were amounted to USD 27,909,612 and USD 22,633,002, respectively.

27

PT CENTURY T-EXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN K.EUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERI ODE SEMBTLAN BULAN YANG BERAKHTR PADA 31 DESEMBER 2018 DAN 2017 /NINE MONTH PElUOD ENDED 31 DECEMBER 2018 AND 2017

9. ASET TETAP (Lanjutan)

Perincian Hak atas penggunaan tanah Perseroan ("Hak Guna Bangunan/HGB") per 31 Desember 2018 dan 31 Maret 2018:

192.990 m2 di JI. Ciracas Rt.004/01, Clracas, Jakarta Timur, HGB No. 61 berakhir pada tahun 2027. Pada tanggal 29 Dcsember 2017, Perscroan mcmberikan sebidang t.aJ\wt seluas 9.890 m2 di JI. Ciraoas Rt.004/01, Ciracas, Jakarta Timur, MGB No. 70 berakhir pada tahun 2028, kepada pemerintah daerah untuk jalur hijau dan normalisasi sungai,

Mnnajemen mengharapkan bahwa hak guna yang diberikan melalui sertifikat-sertifikat ini akan dapat diperbaharui dengan biaya minimal.

Per 31 Maret 2018 dan 2017, Perseroan telah mengasuransikan aset tetapnya (kecuali tanah) terhadap risiko kebakaran, kerusuhan dan kecelakaan dcngan total pcrtanggungan masing-masing adalalt sebesar USD 64.718.254 dan USO 63.862.570 pada PT Asuransi MSIG Indonesia. Manajemen berkeyakinan bahwa jumlah pertanggnngan asuransi ini mcmadai.

Beban bunga dari pinjaman dari pihak berelasi yang berhubungan langsung dengan konstruksi asct tctap yang rnemenuhi syarat scluruhnya dikapitalisasi kc aset let.op sebcsar USD 89.630 untuk tahun berakhlr 31 Maret 2018.

Pada tanggal 31 Maret 2018 dan 2017, nilai wajar asct tctap masing-masing adalah sebesar USD 63.496.991 dun USD 63.974.021. NiJai wajar dari aset tetap diukur berdaserkaa perhltungan dun penilai berkualifikasi dengan menggunakan teknik perbandingan pasar dan teknik biaya (nilai wajar level 2). Model penilaian mcmpcrtimbangkan harga pasar kuotasian untuk barang serupa apabila tersedia, dan biaya pengganti yang telah dlsusutkan, apabila tepat. Biaya pengganti yang telah disusutkan mencerminkan penyesualan untuk kerusakan fisik maupun keusaagaa fungsional dan ekonomi.

Mrmajcmen berkeyakinan bahwa tidak terdapat kondisi atau peristiwa yang mengindikasikan penurunan nilai atas jumlah tercatat aset tctap, sehlngga tidak diperlukan cadangan kerugian pcnurunan nilai untuk aset tetap,

Per 3l Desember 2018 and 31 Maret 2018, Pcrseroan tldak menjarninkan aset tetapnya,

9. FIXED ASSETS (Continued)

Details of the Company's land usage rights ("Hak Guna Bangunan/HGB'') as of 31 December 2018 and 31 March 2018:

192,990 sq.111. at JI. Ciracas Rt.004/01, Ciracas, East Jakarta, HGB No. 61 expiring in 2027. On 29 December 2017, the Company grant its land area o/9,890 m2 at JI. Ciracas Rt.004/01, Ciracas, East Jakarta, HOB No. 70 expiring in 2028, to local government which intended for green lane and normalization of the river.

Management anticipates that the usage rights granted under these certificates will be perpetually renewable al minimal cost.

As o/31 March 2018 and 20/7, the Company has insured ifs fixed assets (except for land) against the risk of fire, riots and accidents with a total coverage amount of USD 64, 718,254 and USD 63,862,570, respectively at PT Asuransi MSJG Indonesia. Management believes that the total insurance coverage is adequate.

Interest expense from loan from a related party directly attributable lo the construction of qualifying fixed assets were fully capitalized to fixed assets, amounted to USD 89,630for the year ended 31 March 2018.

As of JI March 2018 and 2017, the/air value of fixed assets amounted to USD 63,496,99/ and USD 63,974,021, respectively. The fair value of the fixed assets is measured based on the calculation by qualified appraiser using the market comparison technique and cost technique (fair value level 2). The valuation model considers quoted market prices for similar items when they are available, and depreciated replacement cost when appropriate. Depreciated replacement cost reflects adjustment for physical deterioration as well as functional and economic obsolescence.

Management believes that there were no conditions or events that Indicated impairment in the carrying amount of the fixed assets, and therefore an allowance for Impairment losses of fixed assets was not necessary.

The Company did not pledge its fixed assets as of 31 December 2018 and 31 March 2018.

28

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)INOTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBlLAN BULAN YANG BERAKHlRPADA3l DESEMB.ER2018 DAN2017/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

10. UT ANG BANK JANGKA PENDEK

3 t Desember 2018/ 3/ December 2018

USD

JO. SHORT:..TERM BANK LOANS

31 Maret 2018/ 3/ March 20/8

USO The Bank ofTokyo-Mitsubishi UFJ, Ltd.,

Jakarta Fasilitas modal kerjn, dikenakan bunga sebesar Jakarta Reference Rate plus 0,375%, fasllitas makslmum USO 10,000.000, jutuh tempo antara tanggal IO Januari 2019 dan 31 Januari :?Of9(31 Marct2017;6April2017dan 28 April 2017) dan dapat diperp8lljans hingga 31 Maret2019(31 Maret 2017: 30 September 2018)

The Bank of Tokyo-Mitsubishi UFJ, Ltd., To!cyo Fasilitas pembiayaan kembali atas 75%, dikenakan bunga sebcsar ICE LI.BOR Rate plus 0,375%, !asi!illls maksirnum US02.000.000(31 Maret2017; USO 3.000.000). jatuh tempo tanggal 29 Maret 2019 (31 Maret 2017: 29 Maret 2018) dan dapat diperpanjang hlngga 31 Murel 2019

The Bank ofTokyo-Mitsubisbi UFJ, Ltd., Tokyo Fasilitas modal kcrja, dikcnakan bunga sebesar ICE L/BOR Rate plus 0,375%, fasilitas maksimum USO 6.000.000 (31 Maret 2017: US04.000.000),jatuh tempo tanggal 17 Januari 2019 (31 Maret 2017: 13April2017)dandapat dipcrpanjang hinggu 31 Maret 2019

Bank Sumitomo Mitsui Indonesia. Jakarta Fasilitas modal kerja, dikenakan bunga sebesar cost of'fund plus 0,375%, fasilitas muksimum USO 2.000.000, jatuh tempo tanggal 31 Janunri 2019 (31 Murel 2017: 28 April 2017) dun dapat diperpanjang hingga31 Marct2019(31 Maret 2017: 31 Maret 2018)

Sumitomo Mitsui Trust Dank Ltd., Singapura Fasilitas modul kerja umum, dikenakan bungs sebesar cost offund plus 0,390%, f11-silita.s maksimurn USO 7.000.000,jatuh tempo tangga] 25 Januari 2019 (31 Maret 2017: 28 April 2017) dan dapat diperpnnjans hingga 29 Maret zo 19 (31 Maret 2017: 29 Maret 2018)

The Norinchukin Bank Ltd., Slngapura F11-silit;us modal kcrja umum, dlkenakan bunga scbesar LIBOR Rate plus 0,375%, fasilitas maksimum USD 3,000.000, jatuh tempo tanggal IO Januari zo 19 (3 ! Maret 2017: 13 April 2017) dan dapat diperpanja11g hingga 29 Maret 2019 (31 Maret 2017: 29 Maret 2018)

8.000.000

2.000.000

4.500.000

2.000.000

7,000.000

3,000.000 26.500.000

9,500,000

2.000.000

2.500.000

2.000.000

7.000.000

3.000.000 26.000.000

111e Bank of Tokyo-Mitsubishi UFJ, Ltd .. Jakarta

Worfclng cap!talfacility, bearing Interest at Jakarta Refenmce Rate plus 0.37S%, mc1J:im11mfacifily USD /0,000,000, due

between JO January 20/9 an<l 31 January 2019 (3/ March 2017: 6 April 2017 and

28 April 2017) and can be rolled-over until 31 march 2019 (3/ March 2017:

30 September 2018)

The Bank o/Tokyo·Mlls11blshl UFJ, ua, Tokyo

Refinancing facility 7S% of the existing loan facility, bearing tnterest at ICE LIBOR Rate plus 0.37S%, maximum

facility USD 2, 000. 000 (31 March 2017: USD 3,000,000), due on 29 March 20/9

(31 March 20/7: 29 March 2018) and can be rolled-over until 3/ Marc/I 2019

T11e Bank of Tokyu-Mitsubishi UFJ, ltd., Tokyo

Working capltol faclllty, bearing interest at ICE LIBOR Rate plus 0.37S%,

maximum facility USD 6,000,000 (31 March 2017: USD 4,000,000). due on

17 Ja1111ary20/9 (3/ March 20/7: /3 April 2017) and can be rolled-over until

3/ March 2019

Bank Sumitomo Mitsui Indonesia, Jakarta Working capita/facility, bearing interest

at cost offimd plus 0.375%, 111axi11111111 Jae/Ill)' USD 2,000,000, due 01131 January 2019 (31 March 20/7: 28 April 20/7) and

can be rolled-over until 3 I March 2() J 9 (31 March 20/7: 31 March 2018)

Sumitomo Mitsui Trust Bank Lrd., Singapore General working capital facility, bearing

interest at cost of'fund plus 0.390%, maximum facility USD 7,000,000, due 011

2S January 2019 (31 March 2017: ZS April 2017) and can be rolled-over 111111/

29 March 2019 (31 March 2017: 29 March 2018)

11,e Norinchukin Bank Ltd., Singapore (Jenera/ working capita/facility, bearing

interest at L/BOR Rate plus 0.375%. maximum facility USD 3,000.000, due 011

JO January 20!9 (3 l March 20/7: 13 April 2017) and can be rolled-over 11111/1

29 March 20/9 (3/ March 2017: 29 March 2018)

29

PT CENTURY TEXTILE INDUSTRY Tbk CAT AT AN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERJODE SEMBILAN BULAN YANG BERAKHTR PADA 31 DES EMBER 2018 DAN 2017 /NINE MONT!i PERIODENDED31 DECEMBER2018AND2017

JO. UT ANG BANK JANGKA PEND EK (Laojutao)

31 Desember 20 I 8/ 31 .December 2018

USD

JO. SHORT-TERM BANK LOANS (Continued)

31 Maret 2018/ 31 March 2018

USD Pcnarnbahun pokok pinjaman utnng bank

jangka pendek selama periode berjalan Pernbayaran pokok pinjarnan utang bank

jangka pcndek sclama tahun bcrjalan

2.000.000

(1,500.000}


T11e additional of loan principal for 5.500.000 short-term hank Joans during Ille period

T/11: repayments of loan principal for (6.700.000} short-term bank loans during the year

31 Maret 2018/ 31 March 2018

Kisaran suku bunga kontraktual tahunan 2,115% • 3,075% 1,256% • 2,685% Range ofa111111al contractual

Interest rates

Perjanjian kredit yang diperoleh Perseroan mencanlumkan beberapa persyaratan, antara lain schubungan dengan karakteristik usaha Perseroan, susunaa pemegang saham, dun beberapa persyaratan administrasi.

Seluruh utang bank jangka pcndck diatas dijarnin olch jaminan perusahaan (corporate guarantee) sebesar USD 30.000.000 (31 Murel 2017; USD 29.000.000) dari Toray Industries Inc., Jepang (cntitas induk utama).

11. UTANG USAHA

Utang uso.hn merupakan liubilit.as yang timbul atas pembelian bahan bairn dan bahan pembantu.

3 I Desember 20 I 8/ 31 December 20/8

USD

The credit agreements obtained by the Company include certain requirements, among others, matters related lo choructeristlcs of the Company's business, composition of shareholders, and certain administrative requirements.

The above short-term bank loans are secured by corporate guarantees of US.D 30,000,000 (31 Maret 20/7: USD 29,000,000) from Toray Industries Inc., Japan (ultimate parent enlily).

I I. TRADE PAYABLES

Trade payables represent liabilities incurred for the purchases of raw materials and supplementary materials.

31 Maret 2018/ 31 March 20/8

USD

Pihak ketiga: DolarAS Rupiah Yen Jepang

Pihak bcrelasi: DolarAS Rupiah Yen Jepang

14.672 2.975.992

6.887

830.413 1.801.851

915 2.633.179

5.630.730

107.912 1.239.960

7.106

504.698 1.576.805

2.081.503

3.436.481

Third parties: USD

Rupiah JPY

Related parties: USD

Rupiah .!PY

2.997.551 1.354.978

Per 31. Desember 2018 dan 31 Maret 2018, Pcrseroan lldak memberikan garansi atau jaminan atas utang usaha di aias,

The Company did not provide any guarantee or collateral for the above trade payables as of 31 December 2018 and 31 March 2018.

30


PERIODE SEMBrLAN BULAN YANG BERAKHIR PADA 31 DESEMBER 2018 DAN 2011/NINE MONT1l PE!UOD ENDED 31 DECEMBER 2018 AND 2017

12. PERP AJAKAN

a. Utang pajak terdiri dari ;


USD

12. TAXATION

a. Taxes payable consist of:

31 Maret2018/ 31 March 2018

USD Pajak penghusilan:

Pasal 21 Pasal 23 Pasal 26

Pajak Pertambahen Nilui

16.076 22.819 5.441 19.253 7.107 13.484

13.577 l l.076 42.201 66.632

Withholding taxes: Article 21 Article 23 Article 26

Value Added Tax

b. Rckonsiliasl untaru rugi sebelum pejak pcnghasilan dengan rugi kena paja.k adalah sebagai berikut:

31 D1."Scmbcr2018/ 31 December 2018

USD

b. The reconciliation between loss before income tax and taxable loss was as follows:

31 Marcl 2018/ 31 March 2018 USD

Laba (Rugi) sebelum pajak penghasilan

Perbedaan pem1a.nen: Pe.ndapatan bunga Biaya keuangan Scwa apartemen Biaya pajak Penghapusan piutang lainnya Kesejahteraan karyawan Rupa-rupa Jumlah perbedaan permanen

Pcrbedaan lcmporcr: Kerugian penurunan nilai

piuta.ng lainya Kerugian penurunan

nilai persediaan Penyusutan aset tetap Beban imbalan kerja Pendapatan dhangguhkan Jumlah perbedaan temporer

Laba (rugi) kena pajak

106.829

(1.726)

15.970 I 1.342

46.045 (228.429)

...................... (J 56. 798).

8.950 40.458

(48.394)

1.014

(48.955)

(1.154.558)

(2.541) 619.993 246.142 164.134 68.412 37.783

428.469 1.562.392

7.048

(103.732) (105.666)

5.851 (85.580)

............... (282.079)

125.755

Profit (Loss) before income tax

Permanent differences; Interest Income

Finance cost Apartment rent

Tax expenses Write-off of other receivables

Employees' welfare Miscellaneous

Total permanent differences

Temporary differences:

Impairment loss of other receivables

Impairment loss of inventories Depreciation of fixed assets Employee benefits expenses

Deferred income Total temporary differences

Taxable income (loss)

31


PERJODE SEMBILAN BULAN YANG BERAKHIRPADA 31 DESEMBER2018 DAN 2017/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

12. PERPAJAKAN (Lanjutan)

Jumlah laba kena pajak Perseroan untuk periode berakhir 31 Dcscmber 2018 didasarkan alas pcrhitungan sementara, karena swnpni dengan laporan keuangan inl disetujui untuk diterbitkan oleh direksi Perseroan, Perseroan belum rnenyarnpaikan SPT pajak penghasilan bad an.

c. Perhltungan beban pajak kini dan pajak penghusilan yang dapat dikembalikan adalah sebagai berikut:

31 Desember2018/ · 31 December 2018

USD

12, TAXATION (Continued)

ln these financial statements, the amount of taxable profit for the period ended 31 December 2018 is based on preliminary calculations, as up lo the date when these financial statements were approved for Issuance by the Company's directors, the Company has not flied Its corporate income tax return.

c. The calculation of the current income tax expense and refundable Income taxes was as follows:

31 Maret 2018/ 31 March 2018

USD

Behan pajak kini Pajak penghasilan dibayar dimuka Pajak penghasilan yang dapat

dikemballkan

(46.320)

(46.320)

31.439 (208.547)

(177.108)

Current income tax expense Prepaid income taxes

Refundable Income laxes

d. Beban pajuk pcnghasilan dirckonslliasi dengan rugi sebelum pajak penghasilan sebagal berikut:


USD

d. Income tax expense was reconciled with loss before income tax as follows:

31 Murct2018/ 31 March 20/8

USD Laba (Rugi) sebelum pajak

penghasilan 106.829 (1.154.558) Profit (Loss) before income tax Tarifpajak badan 25% 25% Statutory lax rate

26.707 (288.639) (Pendapatan) Biaya yang tidak dapat dikurangi (39.200) 390.598 Non-deductible (income) expenses Penyesuaian otas beban pajak pada

tahun-tahun sebelumnya 196.809 Adjustments to prior years' tax expense Penggunaan rugi fiskal yang dapat

dikompcnsasi Utilization of tax /oJ'S carryforward Pcrubahan perbedaan temperer Changes in unrecognized temporary

yang tidak diakui 254 (70.520) differences Beban pajak penghasilan (12.239) 228.248 Income tax expense

32

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERJODE SEMBTLAN BULAN YANG BERAKHIR PADA 31 DESEMBER 2018 DAN 2011/N!NE MONT11 PERIOD ENDED 31 DECEMBER 2018 AND 2017

12. PERP AJAKAN (Lanjutan)

e. Komponen beban pajak penghasilan yang diakui dalam laba rugi adalah sebagai berikut:


USD Behan pajak kini Penyesuaian atas beban pajak pada

tahun-tahun sebclumnya Beban pajak tangguhan

12. TAXATION (Continued)

e. 'the components of income tax expense recognized in profit or loss were asfollows:

31 Maret2018/ 31 March 2018

USD 31.439 Current tax expense

196.809 Adjustment. to prior years' tax expense Deferred tax expense

228.248

f. Sesuai peraturan perpajakan di Indonesia, Perseroan j melaporkan/menyetorkan pajak-pajaknya berdasarkan sistcm sef-assessment. Otorites P<Uuk dapal menetapkan/mengubah pajak-pajak tersebut sebelum waktu kadaluarsa, sesuai dengan peraturan yang berlaku.

Posisi pajak Perseroan mungkin dipertanyakan oleh otoritas paJak� Manajemen berusaha keras mempertahankan posisi pajak Pcrseroan yang diyakini secara basis teknis, sesuai dcngan peraturan perpaiakan. Oleh karena itu, manajemen berkeyakinan bahwa akrual alas llabllitas pajak adalah cukup untuk sernua tahun pajak yang belum diaudit bcrdasarkan pcnelaahan berbagal faktor, tennasuk Interpretasi dari pcraluran pajak dan pengalaman sebelumnya, Penilaian dilakukan berdasarkan estimasi dan asumsl dan melibat.kan pertimbangan mengenai kejadian di masa mendatang. Informasi barn yang terseeia dapat menyebabkan manajemen mengubah pertimbangannya terkait dengan kecukupan liabilitas pajak yang telah ada, Perubahan terhadap liabilltas pajnk aknn berdampak pada beban pajak pada periode dimana penentuan tcrscbut ditetapkan.

Under the taxation laws of Indonesia, the Company submits tax returns on the basis of self-assessment. 711e tux authorities m(Jy assess or amend taxes within the statute of limitations, under prevailing regulations.

The Company's tax positions may be challenged by the tax authorities. Management vigorously defends the Company's lax positions which are believed to be gro1mded on sound technical basis, in compliance with the tax regulation. Accordingly, management believes that the accruals for tax liabilities are adequate for all open fax years based on the assessment of various factors, including interpretations of tax law and prior experience. The assessment relies on estimates and assumptions and may involve Judgment about future events, New information may become available that causes management lo change its judgment regarding the adequacy of existing tax liabilities. Such changes to tax liabilities will impact tax expense in the period that such determination is made.

33

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANOAN (Lanjutan)/NOTES TO THE FINANCIAL S1'AT'EME71T'S (Continued)

PERIODE SEMBTLAN BULAN YANG BERAKHlR PADA 31 DESEMBER 2018 DAN 2017/NJNE MONTH PERIOD ENDED 31DECEMBER2018 AND 2017

13. BEBAN AKRUAL

Kompensasi karyawan Komisi ckspor Utilitus Pemutusan lisensi Biaya ekspor Jasa profcsional Beban lisensi Lainnya

31 Desember 2018/ 3/ December 20/8

USD 494.846 341.902 404.111

92.926 68.794

100.522 344.798

1.847.901

31 Maret 2018/ 31 March 2018

USO 461.184 391.923 384.989 141.461 14l.l89

57.698 25.009

338.340 J.941.793

13. ACCRUEDEXPENSES

Employees' compensation Export commission

Utiltttes License termination

Expor; charges Professional fees

License fees Others

Beban akrual kc pihak bcrclasi pada tanggal 31 Desember 2018 can 31 Maret 2018 masing-masing berjumlah USD 353.809 dan USD 486.219.

14. PINJAMAN DARI PIHAK BERELASI


USD

Accrued expenses lo related parties as of 31 December 2018 and 3/ March 20/8 was USD 353,809 and USD 486,219, respectively.

14. LOANS FROM A RELATED PARTY

31 Maret 2018/ 31 March 20/8

USD Penfabric Sdn. Berhad, Malaysia

Fasilitas pengeluaran modal, dikenakan bunga sebesar LIBOR Rate plus 0,75%, fasilitas maksimurn USD 12.500.000, jatuh tempo pada bulan Maret 2022 12.500.000


12.500.000

31 Marct2018/ 3/ March 20/8

Pe,ifabrlc Sdn. Berhad, Malays/a

Capital expenditure facility, bearing interest at l!BOR Rate plus 0. 75%,

maxtmum factltty USD 12,500,000, due in March 2022

Kisaran suku bunga kontraktual tahunan 2,470%- 3,130% 1,740% • 2,470% Range of a111111al contractual interest rate

Pada tanggal 29 Maret 2017, Perseroan mengadakan pcrjanjian pinjaman jangkn panjang dengan Penfabric Sdn, Berhad., Malaysia (cntitas dengan pengaruh signiflkan) untuk rucrnbiayal pengeluaran modal sesuai dengan Surat Keterbukaan Infonnasi tanggal 24 Maret 2017 dan persetujuan Rapat Umum Pemegang Saham Luar Biasa pada tanggal 29 Maret 2017. Fasilitas pinjaman maksimum sebesar USD 12.500.000 dan tersedia penarikan sampai dengan bulan Maret 2022, Sebagian dari pinjaman ini dijamin dengan surat jaminan dari PT Budiman Kencana Lestari (salah satu pemegang saham) sejumlah USD 2.025.000. Fasilitas pinjaman tersebut dikenakan bunga berdasarkan LIBOR rate satu bulan ditambah 0,75% per tahun da.n yang terutang dalam angsuran bulanan berturut-turut pada hari kerja terakhir dalam bulan tersebut.

On 29 March 2017, the Company entered into a long-term loan agreement with Penfabric Sdn. Berhad., Malaysia (entity with significant influence) lo finance its capital expenditure pursuant 10 declaration made in the Disclosure of Information on 24 March 2017 and approval obtained in Extraordinary General Meeting of Shareholders on 29 March 2017, The maximum loan facility Is USD 12,500,000 and available for withdrawal until March 2022. The loan is partially secured by feller of guarantee from PT Budiman Kencana Lestari (a shareholder) totaling USD 2,025,000. The loan facility bears interest based on one month LJBOR rate plus 0.75% per annum and which shall be payable in consecutive monthly installments on the last working day of the month.

34


PERIODE SEMBJLAN BULAN YANG BERAKH1RPADA3J DESEMBER2018 DAN 2017/N!NEMONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

15. KEWAJIBAN IMBALAN KERJA

lmbalan pascakerja

Berdasarkan peraturan kctcnagakerjaan Indonesia, Perseroan diwajibkan untuk mcmbcrikan imbalaa pascakerja kepada karyawannya pada saat berakhimya masa kerja atau pada saat mereka pensiun. Imbalan ini, terutama berdasarkan masa kerja dan kompensasi karyawan pada saat berakhirnya masa kerja atau pensiun. Kewajiban imbalan pasti ini seluruhnya tidak didanai,

Tabcl berikut merellekslkan saldo imbalan pascakerja per tanggal pclaporan, dan jugu mutasi kewajiban, dan beban yang diakui:


USD

/5. EMPLOYEE BENEFITS OBLIGATION

Post-employment benefl llS

In accordance with Indonesian labor regulattons, the Company is required to provide certain post-employment be11efils lo its employees when their employment is terminated or when they retire. These benefits are primarily based on years of service and the employees' compensation at termination or retirement. This defined benefit obligation is entirely not funded.

The fol/owing table reflects the balance of the obligation for post-employment benefits as of the reporting dates, as well as the movements in the obligation, and the expense recognized:

31 Maret 2018/ 31 March 2018

USD M111osi nilni kinl kewnjlbnn lmbalan pnstl

Kewajiban imbalan pastl, pada awal tahun

Termasuk di laha rui;i: - Behan [asa kini - Bcb!II! bunga

Termasuk dj peoghasllan komprehensif lain:

Kerugian (keuntungan) aktuarial yang berasal dari: • Asumsi kcuangan • Penyesuaian pengalaman

Laln-laln lmbalan yang dibayar!can Pcngaruh pcnjabarun

Kewajiban irnbalan pasti, pada ukhlr tahun ·

2.286.610

129.340 131.004

(176.402) (130.641)

2.239.911

2.170.942

154.019 158.861

38.975 64.124

(255.547) (44.764)

2.286.610

Movemem In the present value of the defitted beneftt obllgatlon

Defined benefit obllgatlon, beginning of year

Included i11 profit or loss: • Current service cost

• Interest cost Included in other C()mprelie11sive

income: Actuarial (gains) losses arising

from: • Financial assumptions

- Experience adjustments Others

Benefits paid Translation effect

Defined benefit obligation, end of year

Jmbalan kerja [angka punjang

Pcrscroan menyediakan imbalan kerja jangka panjang bagi karyawan yang telah bckcrja untuk Perseroan selama suatu periode tertentu. lmbalan menjadi terutang pada tanggal tertentu,

Mutasi kewajiban imbalan kerja jangka panjang pada tanggal 31 Desember 2018 dan 31 Murel 2018 adalah sebagai berikut:

3 I Desember 2018/ 31 December 20 I 8

USD

Long service benefits The Company provides long-service benefits for ifs employees who have worked for the Company a certain number of years. The beneflts become payable on specified anniversary dates. A summary of the movements In the long-service benefits obligation as of 31 December 20/8 and 3/ March 2018 was as follows:

31 Ma..rel 2018/ 31 March 2018 USD

Kewajiban imbalan kcrja jungka panjang, awal tahun

Beban imbalan kerja Pcngaruh penjabaran Pembayaran imbalan keria Kewajiban irnbalan kerja jangka panjang,

akhir tahun

82.981 I0.254 (5.547) (6.402)

81.287

89.700 6.874

(13.593)

82.981

Long-service benefits obligation, beginning of year

Benefit cost Translation effect Benefit payments

Long-service benefits obligation, end of year

35

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN KEUANGAN (Lanjulan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERlODE SEMBILAN BULAN YANG BERAKHIRPADA 31 DESEMBER 2018 DAN 2011/NINE MONTH PERIOD ENDED 3/ DECEMBER 2018 AND 2017

15. KEWA.JTBAN IMBALAN KERJA (Lanjutan)

Asum.�i aktuarial

Berikut ini adalah asumsi utama yang dlgunakan dalam perhitungan aktuarial:

2018

15. EMPLOYMENT .BENEFITS OBLIGATION (Continued)

Actuarial assumptions

Principai ass14mptions used in the actuarial calculation were as follows:

2017

Tingkat bunga Tingkat kenaikan gaj i

7,50% per annum 7,00% per annum

7,75% per annum 7,00% per annum

Discount rate Future salary increase rate

lnforma.�i historis:

Nilai !cJn! kewajib!lll imhalan pasti

Penyesuaian

3 I Morell 3 I Mun:11 3 I Marel/ 31 Marel/ Marc/r2018 March2011 March2016 March2015

2.268.610 2. 170.942 2.033.777 l.9S8,7S2 64.124 (10.563) 44.727

31 Desember/ Vcc:cmbcr 20 I 4 Hi.,J11ric"I inHl.UJ.ISIJ/ou

t'resent v11!ul! ofdcflnccl benefit 1.938.947 obllgauon

�peril!llt:i! 11c!jus1111c111s

Tingkat diskonto digunakan untuk menentukan nilai kini dari kewajiban lmbalan kerja padu tanggal penilaian. Secara umum, tlngkat bunga berhubungan dengan hasil imbal balik obligasi pemerintah yang diperdagangkan di pasar aktif pada tanggal pelaporan.

Asurnsi tingkat kenaikan gaji di masa depan memproyeksikan kewajiban irnbalan kerja mulai dari tanggal penilaian sampai dengan usia pensiun normal. Tingkat kenaikan gaji umumnya ditentukan dengan memperhitungkan penyesuaian inflasi terhadap tingkat upah, dan juga bertambahnya masa kerja.

Analisa sensitivitas

Kcmungklnan besar perubahan pada tanggal pelaporan terhadap salah satu asumsi aktuarial yang relevfl!l, dimana asumsi luinnya konstan, akan mempengaruhi liabilitas imbalan pasti dcnganjumlah yang ditunjukkan dibawah ini:

:2018

The discount rate is used in determining the present value of the benefit obligation at valuation date. /11 general, the discount rate correlates with the yield on high quality government bonds that are traded in active capita/ markets at the reporting date.

The future salary increase assumption projects the benefit obligation starting from the valuation date through the normal retirement age. The salary increase rate is generally determined by applying inflation adjustments lo pay scales, and by taking info account the length of service.

Sensitivity analysis

Reasonably possible changes at the reporting dale to one of relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below:

2017 I% Kenaikan/ I% Penurunan/ I% Kenaikan/ I% Pcnurunun/

Increase Decrease Increase Decrease

Tingkat diskonto (185,247) 213.601 (174.291) ;200,709 Discount rate Tingkat kenaikan gaji masa depan 214.494 (187.644) 201.749 (176.765) F11t11re salary increase rate

Pada tanggal 31 Maret 2018, rata-rata tertimbang durasi kewajiban imbalan pasti adalah 13,48 tahun (31 Maret 2017: 14,23 tahun).

Analisa ini memberikan perkiraan sensitivitas atas asumsi asumsi yang ada, namun tidak memperhitungkan variabilitas dari distribusi waktu pembayaran imbalan yang diharapkan atas program inl,

As of 31 March 2018, the weighted average duration of the defined benefits obligation was /3.48 years (31 March 2017: 14.23 years).

771is analysts provides an approximation of the sensitivity of the assumptlans shown, bu! does not take account of the variability in the liming of the distribution of benefit payments expected under the plan.

36

PT CENTURY TEXTILE INDUSTRY Tbk CAT AT AN ATAS LAPORAN K.EUANOAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERlODE SEMBfLAN BULAN YANG BERAK.HlR PADA 31 DESEMBER 2018 DAN 2017/NINE MONTH PERIOD ENDED 3/ DECEMBER 20/8 AND 2017

16. MODAL SAHAM 16. SHARE CAPITAL

Berdasarkan Rapat Umum Pemegang Saham Luar Bia.sa (RUPSLB) tanggal 30 Juni 2016, pemcgang saham Perseroan menyetujui perubahan nilai nominal saham dari Rp 1.000 per saham menjadi Rp 50 per saham (pemecahan saham). Keputusan RUPSLB ini telah diterima dan dicatat di dalam Sistem Administrasi Badan Hukum Kementerian Hukum dan Hok Asasi Manusia sebagaimana dinyaiakan dalam surat pencrimaan pemberitahuan No. AHU AH.01.03-0066847 tanggal 27 Juli 2016.

Based 011 the Extraordinary General Meeting of Shareholders (EGMS) of the Company held on 30 June 20/6, the Company's shareholders approved the changes of nominal value of share from Rp /,000 per share lo become Rp 50 per share (stock split). The resolutions of the EGMS has been received and recorded in the Minister of Law and Human Rights Legal Entity Administration System as stated in the notification feller No. AHU-AHOl.03-0066847 dated 27 July 2016.

Dengan demikian, per 31 Maret 2017 modal dasar Perseroan yang telah ditempatkan seluruhnya dan disetor penuh adalah Rp I0.000 juta atau USD 18.396.572 yang terdiri dari 130.000.000 saham seri B (saham blasa) dan 70.000.000 suborn seri A (14,5% nonkumulatip partisipasi laba) masing-masing dengan nilai nominal Rp 50 per saham.

Therefore, as of 3/ March 20/7 the Company's authorized, fully issued and paid-up share capital amounted lo Rp /0,000 million or USD /8,396,572 which consist of 130,000,000 shares of B series (common stock) and 70,000,000 shares of A series (14.5% non-cumulative partlcipatlng dividend) at nominal value of Rp 50 per share.

Berdasarkan Rapa! Umum Pemegang Saham Luar Biasa (RUPSLB) tanggal 23 Agustus 2016, pemegang saham Perseroan rnenyetujui penjualao 60.000.000 saham seri B Toray Industries, Inc, Jepang kepada l'enfabric Sdn. Berhad., Malaysia. Keputusan RUPSLB ini telah diterima dan dicatat di dalam Sistem Administrasi Badan Hukum Kemcntcrian Hukum dan Hak Asasi Manusia sebsgaimana dinyatakan di dalam surat penerimaan pemberitahuan No. AHU-AH.O l.03-0082962 tanggal 23 September 2016.

Based on the Extraordinary General Meeting of Shareholders (EGMS) of the Company held on 23 August 20/6, the Company's shareholders resolved the approval of sales 60,000,000 shares B series of Toray industries, Inc., Japan lo Penfabric Sdn. Berhad., Malaysia. I11e resolutions of the EGMS has been received and recorded in the Minister of Law and Human Rights legal Entity Adminstration System as stated In the notification leuer No. AHU AH.0/.03-0082962 dated 23 September 2016.

Per 31 Desember 2018 dim 31 Morel 2018, susunan pemegang saham Pcrseroan udalah sebagai berikut:

As of 31 December 2018 and 3/ March 2018, the Company's shareholding was as follows:

Jumlah

Jumlah saham/ Number of shares

Seri N Seri B/ Pcmcg1mg Suh!l!TI A series B series

nominal (dalamjutaan

Rupiah)/ Nominal value (In

millions of Rupiah)

Jumlah nominal (dalam

Dolar AS)/ Nominal

value (in USD) % Shareholders

2.374 4.367.346 24 Toray Industries lnc., Japan 3.000 5.518.972 30 Perfabrtc Sdn. Bhd., Malaysia

326 599.728 3 Tokal Senko K.K.. Japan 1.166 2.144.121 12 PT Budiman Kencana Lestari 1.197 2.202.162 12 PT Prospect Motor 1.015 1.867.068 10 PT Eastern/ex

922 1.697.175 9 Other publtc shareholders 10.000 18.396.572 100 -

43.480.000 60.000.000

6.520.000 20.000.000

4.000.000

3.310.000 23.941.000 20.298.000 18.451.000 10.000.000 -1=-=- 30.,,.... .0'""0""" 0.""" oo"'"' o ====

Toray Industries Inc., Jepang Pcnfabric Sdn. Bhd., Malaysia Tokai Senko K.K., Jcpang PT Budiman Kencana Lestari PT Prospect Motor PT Eastemtex Pcmcgang saharn publik lalnnyu

Berdasarkan Anggaran Dasar Perscroan, suham-saham seri A yang tclah diterbitkan tidak akan diubah menjadi saham saham seri B di masa mendatang,

In accordance wlth the Company's Articles of Association, the outstanding shares of A series shall not be converted into shares of B series in the future.

17. T .AMBAHAN MODAL DISETOR 17. ADDITIONAL PAID-IN CAPITAL

Merupakan sclisih antara harga penawaran sahen Rp 5.500 per saham dengan nilal nominal Rp 5.000 per saham dari 116.000 saham yang dijual dalam masa penawaran perdana pada bulan Mei 1979 [lihat Catalan 1 b (i)).

Represents the premium as a result of the difference between the offering price of Rp 5,500 and nominal value of Rp 5,000 per share from //6,000 shares sold during the initial public offering period of May 1979 [see Note lb (i)}.

37

PT CENTURY TEXTILE INDUSTRY Tbk CAT ATAN AT AS LAPORAN KEUANGAN (Lanjutan)/NOTES TO 11iE FlNANClA t. STATEMENTS (Continued)

PERlODE SEMBTLAN BULAN YANG BERAKHIR PADA 31 DESEMBER 2018 DAN 2017/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

18. PENJUALAN NETO

Penjualan persediaan: Pihak ketiga Pihak berelasi

31 Desember2018/ JI December2018

USD 19.875.573 9.949.625

29.825.198

31 Desernber 2017 / 3/ December 20/7

USD 17.690.190 6.641.922

24.332.112

18. NET SALES

Sales of goods: Third parties

Related parties

Pcnjualan ke PT Warga Djaja sebesar 20,7% dari total penjualan untuk tahun berakhir 31 Descmber 2018, yaitu USD 6.186.321 (31 Desember 2017: USD 3.806.159; 15,6% dari total penjualan).

19. BEBAN POKOK PENJUALAN

Sales to PT Warga Djaja by 20. 7% of total sales for the year ended 31 December 2018, i.e. USD 6,186,321 (31 December 2017: USD 3,806.159; I 5, 6% of total sales).

19. COSTOFSALES

Pemakaian bahan baku Gaji karyawan dan kompcnsasi

lainnya Pcnyusutan aset leUlp Biaya overhead lainnya Jumlah biaya produksi Persediaan awal barang dalam

pcngolahan Persediaan ak.hir barang dalam

pcogolehaa Biaya pokok produksi Persediaan awal barang jadi Persediaan akhir barang jadi Behan pokok penjualan

31 Desember 2(ll 8/ 31 December 2018

lJSD

14.024.003

3.133.102 2.038.054 8.068.687

27.263.845

1.925.089

(2.515.303) 26.673.632

2.140.389 (2.716.201) 26.097.820


USD 10.209.188

3.305.631 1.493.716 7.057.800

22.066.335

1.638.059

( 1.857 .160) 21.847.235

1.442.245 (2.283.526) 21.005.953

Raw materials used Employees' salaries and

other compensation Depreciation of fixed assets

Other factory overhead Total product ion costs

Beginning balance of work in process

Ending balance of work in process Cos/ of goodf manufactured

Beginning balance of finished goods Ending balance of finished goods

Cost of sales

Rincian pemasok dengan jumlah nllai pembelian bahan baku yWlg melebihi 3% dari total pembelian ncto adalah sebagai berikut:

The details of suppliers from whom the purchase of rmv materials amounted to more than 3% of the total net purchases \Vere as follows:

Toyoshima Inc., Amerika Serikat PT Indonesia Toray Synthetics Penfabric Sdn. Berhad, Malaysia

31 Desember2018/ 3/ December 2018

USD

1.508.496 1.147.498


OSD 2.073.593 1.184.130

523.699

Toyoshima inc .• USA PT Indonesia Toray Synthetics

Perfabric Sdn. Berhad, Malaysia

20. BEBAN PENJUALAN 20. SELLING EXPENSES

31 Dcsember 2018/ 31 Desember 2017/ JI December 2018 31 December 2017

USD USO Beban ekspor Komisi penjualan Iklan dan barang contoh Klaim penjualan

647.526 694.118

36.870 35.810

1.414.323

588.803 574.340

48.532 17.999

1.229.674

Export charges Sales commissions

Advertising and samples Sales claims

38

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE F!NANCIAL STATEMENTS (Continued)

PERlODE SEMBJLAN BULAN YANG BERAKHLRPADA31 DESEMBER2018 DAN 2017/NJNEMONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

21. BEBAN ADMlNISTRASl


USD

21. ADMJNTSTRATIVE EXPENSES

31 Desemher 2017/ 31 December 2017

USD Gaji karyawan dan kompensasi lainnya Jasa profcsional, kepcrluan kantor,

komunlkasl dan sewa Perjalanan dinas, reparasi dan

pemeliharaan Kcsejahteraan karyawan Penyusutan aset tetap Lainnya

942.404

492.367

149.881 36.354

2.770 79.298

1.703.074

985.743

572.220

202.989 89.025

3.149 77.336

1.930.462

Employees' salaries and other compensation

Professional fees, office supplies, communication and rental

Travel, repairs and maintenance Hmployees' welfare

Depreciation of fixed assets Others

22. LABA (RUGI) PER SAHAM

Rugi per saham dasar dihitung dengan membagi rugi tahun bcrjalan dengan jumlah rata-rata tertimbang saham beredar dalam tahun yang bersangkuian, sebagai berikut:


USD

22. EARNINGS (LOSS) PER SHARE

Basic loss per share was calculated by dividing loss for the year by the weighted average number of outstanding shares during the year as follows:

31 Descmber 2017/ 31 December 2017

USD Laba (Rugi) tahun berjalan Jumlah rata-rata tertimbang saham seri

A dan seri B yang beredar

Rugi per saham dasar dan dllusian untuk tahun berjalan

106.829

200.000.000

0,00005

(658.822) Loss for the year Weighted average oulslanclit1g shares

200.000.000 of A and 8 series

Basic and diluted loss per share for the (0,0033) year

Sesuai dengan pasal 24 dari Anggaran Dasamya, pcmegang saham seri A berhak menerima dividen secara nonkumulatip partisipasi laba sekurang-kurangnya sehesar 14,5% dari harga nominal saham seri A, selama keuntungan tahun berjalan Perseroan yang disajikun dalam laporan keuangan cukup untuk mcmbayar dividen tersebut. Pemegang saham seri B akan menerima dividen dalam jumlah yang sama, setelah hak minimum pemegang saham seri A terpenuhi.

Tidak ada cfck yang dapat menlmbulkan potensi dilusi schingga rugi per sabam dasar sama dengan rugi bersih per saham dilusian.

In accordance with article 24 of its Articles of Association, the A series shareholders have the privilege to receive at least /4.5% non-cumulative participating dividend from Its nominal value if the Company's profit for the year, as stated in the financial statements, could cover such dividend. The B series shareholders will receive the same dividend after the A series shareholders receive their minimum dividend.

There is no security which has a potential dilution feature accordingly the basic loss per share is the same as the diluted /oJ'S per share.

39

PT CENTURY TEXTil,E INDUSTRY Tbk CATA TAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERJODE SEMBILAN BULAN YANG BERAKBIR PADA 31 DESEMBER 2018 DAN 2017/NlNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

23. INFORMASI SEGMEN OPERASI

Perseroan mengcvaluasi bisnlsnya berdasarkan perspektlf produk, Perseroan hanya memiliki satu segmen usaha yaitu tekstil.

Penjualan Pcrscroan berdasarkan wilayah geografis 11dalah sebagal berikut:


USD

23. OPERATING SEGMENT lNFO_RMATJON

The Company evaluates ifs business based on product perspective. The Company only has one business segment, which Is textile.

The Company's sales based on geographic areas were us follows: 31 Descrnber 2017/ 31 December 2017

USD

Indonesia Bangladesh Negara Asia lainnya Arab Saudi Uni Emirat Arab Belnnda Negara Timur Tengah lainnya Amerika Utara Negara Eropa lalnnya Negara lainnya

15.936.880 5.451.905 3.797.999 1.330.447 1.206.186

369.269 450.372

20.670 122.139

1.139.332 29.825.198

10.680.970 4.733.656 3.726.556 1.481.779 1.245.150

641.565 627.670

33.268 87.668

1.073.829 24.332.111

Indonesia Bangladesh

Other Asian countries The Kingdom of Saudi Arabia

United Arab Emirates Netherlands

Other Middle East countries Northern America

Other Euro-zone countries Other countries

Per 31 Desember 2018 dan 2017, seluruh aset Perseroan berlokasl di Indonesia termasuk aset tidak lancar sclain instruruen keuangan dan aset pajak tangguhan,

24. IKATAN-IKATAN

Dalam pcriode yang berakhir puda tanggal 31 Oesember 2018 dan 2017, Perseroan memiliki perjanjian-pcrjanjian sebagai berikut: -

a. Tokai Senko K.K., Jepang untuk penyediaan informasi teknis dan teknclogi (know-how) kepada bagian pencelupan Perseroan, dimana Perseroan harus membayar imbalan bantuan teknLk sebeser USD 0,003/ yard untuk kain yang diproduksi dan tambahan pembayaran sebesar JPY 3,7 juta per tahun (termasuk komisi untuk pekerjaan pencelupan dan pengerjaan akhlr), kecuali seluruh kain jadl grade C. Pada tanggal 30 November 2017, Perseroan menyetujui untuk mengakhiri perjanjian ini, efektif sejak 31 Maret 2019, dimana Perseroan harus membayar biaya pemuiusan sebesar USD 41 1 .000 selarna tiga tahun, dimulai pada 30 September 2018. Beban imbalan jasa bantuan teknik untuk pcriode yang berakbir tanggal 31 Desember 2018 dan 2017 masing-masing berjumlah USD 99.272 dan USD 80.972. Jasa bantuan teknik ini di.klasifikasikan sebagai biaya produksi,

As at 31 December 2018 and 2017, all the Company's assets were located i11 Indonesia including non-current assets other than financial Instruments and deferred lax assets.

24. COMMITMENTS

D11ri11g periods ended 31 December 2018 and 20/7 the Company entered into the following agreements:

a. Takai Senko K.K., Japan lo provide lee/mica/ information and know-how lo the Company's dyeing department. whereby the Company has to pay technical assistance fee of USD 0. 003/yard of fabric produced and additional payment of JPY 3. 7 million annually (including dyeing and finishing commission), except all finished C grade fabrics. As of 30 November 2017, the Company agreed lo terminate this agreement, effective from 31 March 2019, whereby the Company has to pay termination fee of USD 411,000 for three years started from 30 September 2018. The lee/mica/ assistance fee for periods ended 31 December 2018 and 2017 was USD 99,272 and USD 80,972, respectively. T'he technical assistance fee was classified as production costs.

40


PERlODE SEMBILAN BULAN Y ANO BERAKHJR PA.DA 31 DESEMBER 2018 DAN 20 I 7/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

24. IKATAN�lKATAN (Lanjutan)

b. Grup Kanematsu, Jepang untuk mempromosikan dan menjual produk Perseroan ke luar negeri seperti benang tenun dan kain jadi yang dihasllkan dan/atau diproses melalui jaringan organisasi Grup Kanematsu, Jepang di seluruh dunia. Atas jasa ini Perseroan harus membayar komisi sebeser 3% - 7% dfui nilai Thklur penjualun ekspor, Perjnojian ini tetap berlaku kecuali salah satu pihak mengakhiri perjanjian ini. Beban komisi ekspor untuk periode yang berakhir tanggal 31 Desernber 2018 dan 2017 masing-masing bcrjumlah USD 90.375 dan USD 163.038. Beban komisi ekspor ini diklasifikasikan sebagai beban penjualan.

c. PT Toray Industries Indonesia (pihak berelasi) untuk penycdiaan jasa konsultasi dan jasa pcndukung lainnya. Perjanjiun ini diperbaharul setiap tahun. Atas jasa ini Perseroan harus membayar irnbalan jasa masing-masing sebesar USO 310.643 dan USD 346.401 untuk pcriode yang berakhir tanggal 31 Dcsernbcr 2018 dan 2017. Beban inl diklasitlkasikan sebagui biaya produksi dan beban administrasi.

25. JNSTRUMEN KEUANGAN DAN MANAJEMEN RISIKO KEUANGAN

Kla.sifikasl dan nllal wajar lnstrumen keuangan

Nilai wajar instrumcn kcuangan Perseroan pada tanggal 31 Dcscmber don 31 Maret 2018 adaleh sebagal berikut:

31 Dcscmb�r 2018/ 31 December 20/8

USD

24. COMMITMENTS (Continued)

b. Kanematsu Group, Japan to promote and sell the Company's products to overseas countries, such as yarn and fabrics produced and/or processed through Kanematsu Group, Japan's worldwide organization and network. For this service, the Company ha» to pay a commission o/ 3%- 7%/rom export Invoice value. This agreement Is valid unless either party terminates this agreement. The export commission for periods ended 31 December 2018 and 2017 was USD 90,375 and USD 163,038, respectively. The export commission was classifled as selling e:xpenses.

c. PT Toray Industries Indonesia (a related party) to provide consultation and other supporting services. Thts agreement Is amended every year. For these services, the Company has to pay a service fee amounting to USD 310,643 and USD 346.40/ for periods ended 31 December 20/8 and 2017, respectively. This service fee was classified as production costs and administrative expenses.

25. FINANCIAL l.NSTRUMENTS AND FINANCIAL RISK MANAGEMENT

Classification and/air value of 'financial instruments Fair value r,f financial instruments of the Company as of 31 December and 31 March 2018 consist of the following:

31 Maret 2018/ 3/ March 2018

USD

Asct kcuangan Pinjaman yang dibcrikan dan piutang:

Kas dan bank 569.275 Piutang usaha 7.908.047 Piutang lainnya 46.235 Uang jaminan yang dapat dikembalikan 2_3_1_ .3_2_ 0

8.754.1176

617.740 6.612.104

74.469 246.674

7.550.987

Financial assets Loons and receivables:

Cash on hand and cash in bank Trade receivables Other receivables

Refundable deposit

Linbilitas keuangan Liabllitas keuangan lainnya:

Pinjaman bank jangka pendek Utang usaha Bcban akrual Liabilitas jangka pendek lainnya Pinjaman dari pihak berelasi Liabilitas jangka panjang lainnya

26.500.000 5.630.730 1.847.901.

131.576 12.500.000

282.922 46.893.129

26.000.000 3.436.481 1.941.793 1.363.664

12.500.000 282.922

45.524.860

Financial liabilities Other financial liabilities: Short-term bank loans

Account payables Accrued expenses

Other current liabilities Loans from a related party

Other non-current liabilities

41

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTESTO THEFJNANCJALSTATEMENTS (Continued)

PERIODE SEMl3rLAN BULAN YANG BERAKITTR PADA 31 DES EMBER 20 J 8 DAN 20 J 7 /NINE MONTH PEJUOD ENDED 31 DECEMBER 2018 AND 2017

25. INSTRUMEN KEUANGAN DAN MANA�TEMEN RISIKO KEUANGAN (Lanjutan)

Klasifik.asl dan nilai wajar instrument keuengan (Lanjutan)

Kecuali pinjaman bank jangka pendek dan pinjaman dari pihak berelasi, seluruh aset dan liabilitas keuangan Perseroan tidak mengandung bunga. Seluruh aset dan llabilitas kcuangan Perseroan diharapkan dapat tcrcalisasi 11ta11 diselesaisnn dalam waklu dekat atau tingkat bunganya di kaji ulang secara beraturan. Oleh karenanya, nilai tercatat diperkirakan mendekati nilai wajar, karena dampak dari diskonto tidak signifikan.

Maoajcmco risiko keuangan

Risiko utama yang timbul dari instrumen keuangan Perseroan adalah risiko krcdit, risiko likuidltas, dan risiko pasar.

Rislko kredlt

Risiko kredit Perseroan muncul terutama dari risiko kerugian jika pclanggan gagal mernenuhi kewajiban kontraktual mereka. Perseroan mengelola dan mengawasi risiko kredit alas piutang dengan menetapkan batasan jumlah piutang yang dapai diberikan kepada pelanggan.

Untuk menghindari konsentrasi risiko, kas di bank ditempatkan di beberapa lembaga kcuangun yang memilik! reputasi baik.

Eksposur utama tcrhadap risiko kredit dari aset keuangan adalah sHJT111 dengan nilui tcrcatatnya.

25. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT

_(Continued) Classiflcation and fair value of ji11ancia/ instruments (Continued)

Except for short-term bank loans and loan from a related party, all financial assets and liabilities of the Company are non-interest bearing. Alf financial assets and liabilities of the Company are expected to be realized or settled in near term or the Interest rate is repriced frequently. Therefore the carrying amounts approximate the fair values, as the impact of discounting is not significant.

Financial risk management

The main risks arising from the Company's financial instruments are credit risk, liquidity risk, and market risk.

Cnditri.�k

The Company's credit risk mainly arises from risk of loss if customers fall to discharge their contractual obligations. The Company manages and controls the credit risk of receivables by selling customers' credit limits.

To avoid concentration of risk, cash in banks are deposited at multiple financial institutions of good standing.

The ultimate exposure 10 credit risk of flnancial assets is equal to their carrying amounts, as follows:

31 Desember 2018/3/ December 2018

Kas di bank Piutang useha Piutang lainnya U ang jaminan

yang dapat dikcrnbalikan

Tidakada jatuh tempo/

No contractual maturity USD

566.124

566.124

Belumjatuh tempodan

tidak rnengalami penurunan

nilai/Neilher past due nor

impaired USD

6.996.105 46.235

231.320 7.273.660

Jatuh tempo dan tidak

mengalami penurunan

nilai/Past due but not

Impaired USD

91 L942

911.942

Jatuh tempo dan dilakukan

penurunan nilai/Past due and impaired

USD

454.657 7.048

461.705

Jumlah/Total USD

566.124 8.362.704

53.283

231.320 9.213.430

Cash in banks Trade receivables Other receivables

Refundable deposits

42

PT CENTURY TEXTILE INDUSTRY Tbk CATA TAN ATAS LAPORAN K.EUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBILAN BULAN YANG BERAKHIRPADA31 DESEMBER2018 DAN2017/N/NE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

25. INSTRUMEN KEUANGAN DAN MANAJEMEN RJSJKO KEUANGAN (Lanjutan)

25. Fl.NANCI.AL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT

(Continued)

Risiko kn;djt (Lanjutan) Credit risk (Cvt1timml1

31 Marct2018/3/ March20/8

Refundable deposits

Cash In banks Trade receivables Other receivables

246.674 8.007.472

612.520 7.066.761

8 l.517

Jumlah/7ota/ USD

461.705

454.657 7.048

Jatuh tempo dan dilakukun

penurunan nilai!Past due and impaired

USD impaired

Jatuh tempo dan tidak

mengalami penurunan

nilai!Past due but not

USD

l.248.613

5.684.634 - - --,- .2- 48- .6-1- 3

======

Belurnjatuh tempo dun

tidak mengalami pen unman

rulru/Neither past due nor

Impaired USD

246.674

5.363.491 74.469

USD

612.520

612.520

Tidakada jatuh tempo/

No contractual maturity

Kas di bank Piutang usaha Piutang lainnya Uangjaminan

yangdapat dikcmballkan

Eksposur maksimum terhadap risiko kredit dari piutang usaha per 31 Desember dan 31 Maret 2018 berdasarkan wilayah geografis adalab:

The maximum exposure to credit risk of trade receivables as of 3/ December and 31 Mar,·h 2018 by geographic region was:

Ni lai tercatat/Carrying amount 3 I Desember 2018/ 31 Marci 2018/ · 3/ December 2018 3/ March 20/8

USD USD Bangladesh Indonesia Negara Asia lainnya Arab Saudi Belanda Uni Emirat Arab Negara Eropa lainnya Amerika Utara Negara lainnya

1.393.245 5.319.396

998.821 397.628

167.121

86.493 8.362.704

2.532.201 2.482.466 1.064.307

486.842 284.630 134.101

82.214 7.066.761

Bangladesh Indonesia

Other Asian countries The Kingdom of Saudi Arabia

Netherlands United Arab Emirates

Other Euro-zone countries Northern America

Other countries

Salah satu pelanggan Perseroan, PT Warga Djaja (pihak berelasi lainnya), mencakup USD 2.818.049 atas nilai tcrcatat piutang usaha pada 31 Desember 2018 (31 Maret 2018: USO 1.241.657).

One of the Company's customers, PT Warga Djoja (other related party), accounts for USD 2.818.049 of the trade receivables' carrying amount at 3/ December 2018 (31 March 2017: USD J,241,657)_

43


PEIUODE SEMBILAN BULAN YANG BERAK.HlRPADA31 DESEMBER20l8 DAN 2017/NINEMONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

25. JNSTRUMEN K.EUANGAN DAN MANAJEMEN RISI.KO KEUANGAN (Lanjutan)

Eksposur penurunan nilai


USO

25. FINANCIAL INSTRUMENTS AND FLNANCJAL RISK MANAGEMENT

(Continued)

Impairment exposure 31 Maret2018/ 3/ March 2018

USD Umur piutang usaha yang telah jatuh

tempo tctapi tidak mcngalami penurunan nilai ad1.1lah sebagai berikut: Lewnt l - 30 hari Lewat 3 l - 60 hari Lewat 61 - 90 hari Lewat lebih dari 90 hari

845.201 66.741

911.942

474.173 243.969 41.306

489.165 1.248.613

The aging of trade receivables that are past due but not impaired

was as follows: Past due I - 30 days

Past due 31 - 60 days Past due 6/ - 90 days Past due over 90 days

Pada lf.lnggal 31 Desember 2018 dan 31 Maret 2018, piutang usaha sebesar USD 454.657 mengalami penurunan nilai dan telah dicadangkan sebesar USO 454.657. Piutang usaha individu yang diturunkan nilainya terutarna terkait dengan pelanggan tertcntu yang mengalami kcsulltan keuangan, serta piutang yllllg tidak tertaglh lebih dari satu tahun dan diperkirakan oleh manajemen tidak dapat dipulihkan,

Manajemcn berpcndapat bahwa pcnyisihan kcruglan penurunan nilai plutang tersebut diatas cukup untuk menutup kemungkinan kerugian atas tidak tertagihnya plutang usaha,

Tidak ada mutasi penyisihan kerugian penurunan nilai tcrkait piutang usaha selama 2018 dan 2017.

Risiko likuiditas

Risiko likuiditas adalah risiko bila Perseroan menemui kesulitan untuk memenuhi kewajibannya sehubungan dengan liabilitas keuangan yang diselesaikan dengan pembayaran kas 11l1.1u penyerahan aset keuangan latnnya, Perseroan mengelola rlstko likuiditas melalui pengawa�an terus menerus atas arus kas proyeksi dan aktual.

Untuk mcngurangi risiko likuiditas, Perseroan mendivcrslfikasi sumber daoa. Selain dari modal dan penerimaan pelanggan, Perseroan memperoleh surnber dana dari pinjarnan bank dan pihak berelasi,

Pcrseroan mengelola risiko likulditas uu dengan memperpanjang pinjaman bankjangka pendek Perseroanjuga mencari sumber dana baru untuk membayar liabilitas yang telah jatuh tempo. Sclain itu, risiko likuiditas dikelola secara berkcsinambungan melalul pengawasan arus kas aktual, esumasl arus kas masa depan, pengendalian profit jatuh tempo aset dan liabilitas, serta menjaga kecukupan saldo kas dan fasilitas perbankan.

As of 3/ December 2018 and JI March 2018, trade receivables of USD 454,657 were Impaired and the amount of provision was USD 454,657. The individually impaired trade receivables mainly relate to certain customers who experienced finandal difflcultie« and outstanding receivables more than one year in which management has assessed that those receivables may not be recovered.

Management believes that the allowance for impairment losses of receivables mentioned above Is adequate to cover possible losses on uncollecttble accounts.

No movement in the provision for impairment loss in respect of trade receivables during 20/8 and 2017.

Liquidjtv ri,5k

Liquidity risk is the risk if the Company will encounter difficulties in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company manages this risk by on-going monitoring of the projected and actual cash flows.

To mitigate the liquidity risk, the Company diversifies funding resources. Besides capital and customer's collection, the Company generates funding resources from bank loans and loans from a related party.

The Company manages this liquidity risk by rolling over the short-term bank loans. The Company also seeks other new funds to cover matured liabilities. In addition, lfquidity ri11k is managed on an ongoing basis through monitoring the actual cash flows, estimating future cash flows, controlling the maturity profile of assets and liabilities, as well as maintaining sufficient cash balance and bankfaci/ilies.

44

PT CENTURY TEXTILE INDUSTRY Thk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)/NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERIODE SEMBTLAN BULAN YANG BERAKHTR PADA 31 DESEMBER 2018 DAN 2017/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

25. INSTRUMEN KEVA.NGAN DAN MANAJEMEN RISIKO KEUANGAN (Lanjutan)

Rlsiko llkulditas {Lanjutan} Pad a tanggal 31 Dcscmber 2018, Perseroan memilikl fnsilitas utang bank jangka pendek yang belurn digunakan scjurnlah USD 3.500.000 yang tersedla sampai tanggal 31 Maret 2019 (31 Maret 2018: USO 6.800.000 yang terscdia sampai tanggal 31 Januari dan 31 Maret 2018). Berikut adalah jatuh tempo kontraktual dari liabilitas keuangan pad a tanggal 31 Desember dan 31 Maret 2018, termasuk estimasi pembayaran bunga:

25. FINANCIAL INSTRUMENTS AivD FINANCIAL RISK MANAGEMENT

(Continued) Liquiditv risk (Continued) As of 3/ December 2018, the Company had unused short term bank loan facilities amounting lo USD 3,500,000 available through 31 March 2019 (31 March 2017: USD 6,800,000 which was available through 31 January and 31 March 2018). The fol/owing were the contraaual maturities of financial liabilities as of 31 December and 31 March 2018, including estimated interest payments:

31 Desernber 2018/3/ December 2018 Arus kas kontr11ktual!Co111ractual cash flows

Nilai Kurang dari tercatat/ I tahun/ Carrying Jumlah/ Luss than I -2 tahun/ 2-5 tahun/ OJIIDllnl Total I year 1 -2 years 2- 5 years USD USO USO

Utang bank jangka pendek 26.500.000 26.570.880 '.26.870,880 Shor1-111m1 bank loans Utang usaha 5.630.730 5.630.730 5.630.730 Trade payables Beban akrual 1.847.901 1.847.901 1.847.901 A ccrued expenses Liubllitas jangka pendek

lainnya 131.576 131.576 131.576 Other current flablfll/es Pinjarnan duri pihuk berelusi 12.500.000 13.826.148 100.479 409.170 13.316.499 Loans from a related party Liabilitas jangka panjang Other non-current

lainnya 282.922 282.922 141.461 141.461 flahlf/tles 46,893.1'.29 48,290.157 34.281.566 550.631 13.457.960

31 Maret 2018/31 March 2018 Arus kas kontruktual/Conlrac/110/ cash flows

Nilai Kurang dari tcrcatat/ I tahun/ Carrying Jurnlah/ Less than I -2 tuhun/ 2-5 tahun/ amount Total J J:.ear 1 -2year.; 2-5years

USO USD USD

Utang bank janska pcndck 26.000.000 26.051.271 26.051.271 Short-term bank loans Utang usaha 3.436,481 3.436.481 3.436.481 Trade payables Beban akrual 1.941.793 1.941.793 1.941.793 Accrued expenses Liabilitas jangka pendek

Other c11rre111 liabilities lalnnya 1.363.644 1,363,644 1.363.644 Plnjaman dari pihak berelasi 12.500.000 13.843.573 335.101 336.771 13.171.701 Loans from a related party Liabilitas jallgka palljang Other non-current

lninnyn 282.922 282.922 141.461 141.461 Itabtlltles 45.524.840 46.919.684 33.128.290 478,232 13.313.162

Risiko pasar R.isiko pasar adalah risiko perubahan dalem nilai tukar mata uang dan suku bunga yang akan mempcngaruhi nilai instrumen keuungan. Tujuan dari manajemen risiko pasar adalah untuk rnenjaga eksposur risiko pasar supay11 berada di dalam batasan-batasan yang masih bisa diterima, dun juga mcngopumalkan pengembalian. Risiko kurs mata uan�

Utang dagang yang timbul dari pembelian pcrscdiaan dari pemasok domestik dan luar negeri beserta akrual untuk beban operasi mengekspos Perseroan terhadap Iluktuasi nilal tukar mata uang selain Polar AS terutama berasal dari utang Rupiah dan Yen Jepang. Risiko ini, sampai batas tertentu berkurang dengan adanya penjualan Perseroan dalam mata uang Rupiah.

Mar.kamk Market risk is the risk that c:hanges in exchange rates and interest rates will affect the Company's income of the value of its financial instruments. 111e objective of market risk management is to maintain market risk exposures within acceptable parameters, while optimizing the return.

Currency risk Acaounts payable arising from purchases of inventories from domestic and overseas suppllers and accruals for operating expenses expose the Company to fluctuating exchange rate from currencies other than US Dollar, primarily Rupiah and Japanese Yen. This risk ts to some extent reduced by the Company's sales in Rupiah.

45

PT CENTURY TEXTILE INDUSTRY Tbk CATATAN ATAS LAPORAN KEUANGAN (Lanjutan)!NOTES TO THE FINANCIAL STATEMENTS (Continued)

PERlODE SEMBILAN BULAN YANG BERAKHIRPADA 31 DESEMBER 2018 DAN 2011/NINE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

25. INSTRffMEN K.EUANGAN DAN MANA�TEMEN RISIKO KEUANGAN (Lanjutan)

Risiko kurs matll uaog (Lanjutan)

Perseroan mengelola risiko ini dengan membeli atau menjual rnata uang selain Dolar AS pada tanggal spot jika diperlukan. Perseroan meyakini bahwa pengaruh perubahaa kurs, dimana scrnua variabel Iain dianggap letap, Udak signifikun terhudap ekuilas dan laba rugi setelah pajak penghasilan Perseroan,

Pada taoggal pelaporan, saldo aset moneter dan liabilitas moneter dalam mata uang selain Dolar AS dijabarkan ke dalam Dolar AS dengan kurs berikut: Rp 14.480/USD dao JPY I J0,35/USD pada tanggal 31 Desember 2018, Rp 13.750/USD dan JPY 106,95/USD pada tanggal 31 Maret 2018. .

Risiko suku bunga

Perseroan merniliki pinjaman dengan suku bunga mcngambang, Pinjarnan Perseroan dengan suku bunga mcngambeng terekspos terhadap perubahan arus kas yang dtsebebkan oleh perubahan suku bunga Perseroan memiliki kebijakan untuk secara berkesinambungan mengawasi pergerakan suku bunga,

Pada tanggal pclaporan, profil suku bunga atas instrumen keuangan yang dlkenakan bunga milik Perseroan adalah:

25. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT

(Continued)

Currency risk (Continued)

The Company manages this risk by buying or selling currencies other than US Dollar at spot rates when necessary. The Company believes that the impact of change in exchange rate, with all other variables remain constant, is not significant to the Company's equity and profit or loss after income tax.

At reporting dates, balances of monetary assets and monetary liabilities in currencies other than US Dollar are translated into US Dollar at following rates of Rp 14,480/USD and JPY 110.35/USD as of 31 December 2018, Rp 13,750/USD and JPY 106.95 USD as of 31 March 2018.

Interest rate rl.rk

The Company has variable interest rates borrowings. The Company's variable interest rate borrowings are exposed to fluctuation in cash flows due to changes in interest rate. The Company has a poliq of constantly monitoring movements in interest rates.

Al the reporting date the interest rate profile of the Company's interest-bearing flnancial instruments was:

lnstrumen dengan suku buoga mcngambaog

Utang bankjangka pendek Pinjaman dari pihak bcrelasi

31 Desember 2018/ · 31 December 20/8

USD

26.500.000 12.500.000

27.200.000

Variable rate instruments

Short-term bank loans Loans from a related party

31 Maret2018/ 31 March 2018

USD

l'eningkatan 50 basis poin pada suku bunga pada tanggal 31 Maret 2018 dan 2017, dimana semua variabel lain dianggap letap, akan mengakibatkan penurunan pada ekunas dao Iaba rugl setelah pajak penghasilan rnasing-masing sebesar USD 14.438 dan USD 10.200.

Pcogclolaan rlslko modal

Perseroan mengelola modal dcngan tajuan untuk menjaga kelangsungan usaha Perscroan dao menjagu kemampuan Perseroan untuk memberikan pengembalian kepada pemegang saham dan manfaat kepada pemangku kepentingan lairurya, dan juga mempertahankan struktur modal yang optimal untuk meminimalisasi biaya modal. Tujuan Inl dicapai dengan cara mengoptimalkan tingkat pinjaman.

An increase by 50 basis points in interest rates al 31 Maret 2018 and 2017, with all other variables remain constant, would have reduced equity and profit or loss after income tax by USD 14,438 and USD 10,200, respectively.

Capital risk ma11ageme11t

The Company manages capital with the objective of being able IO continue as a going concern and SI/Staining its ability to provide returns for shareholders and benefits for other stakeholders, as well as maintaining an optimal cap/la/ structure to minimize the effective cost of capital. This objective is achieved by optimizing debt levels.

46


PERI ODE SEMBrLAN BULAN YANG BERAKHIR PADA 31 DESEMBER 20 L8 DAN 2017/NJNE MONTH PEJUOD ENDED 31 DECEMBER 2018 AND 2017

26. ASET DAN LIABILITAS MONETER DALAM MATA UANG SELAIN DOLAR AS

26. MONETARY ASSETS AND LIABILITIES DENOMINATED IN CURRENCIES

OTHER THAN US DOLLAR Pengelolaau risiko modal (Lanjutan)

Aset dan liabilitas monster dalam mala uang sclain Dolar AS, dalam jutaan Rupiah dan dalam ribuan Yen; dun setara dalam Dolar AS, adalah sebagai bcrikut:

Capital rl.vk management (Continued)

Monetary assets and liabilities denominated i11 currencies other than US Dollar, in millions of Rupiah and in thausands of Yen; and equivalent in US Dollar, were as follows:

31 Dcscmber20!8/3/ December2018

125.640 ----2�6� 2

A set: Kas dan bank Piutang usaha Piutang lainnya Pajak pertambahan nilai dibayar

dimuka Uang jarninan yang d11p11t

dikembalikan

Dalam jutaan Rupiallf

In mtlltons of Rupiah

2.571 57.264

440

64.003

1.362

Dalam ribuan Yen/

In thousands of Yen

262

Sciara dengan USD/

Bquivalent inUSD

179.901 3.954.668

30.414

4.420.114

94.087 8.679.184

Assets: Cash an hand and in banks

Trade receivables Other receivables

Prepaid value added tax

Refundable deposits

(69.183) (861) (4.785.645) (611) (42.201)

(12.669) (20.495) ( 1.060.678) (33.611) (2.321.198)

............ (1.16.075), (21.356), (8.209.722)

Liabilitas: Utang usaha Utang pajak Beban akrual Kcwajiban imbalan kerja

Aset melebihi liabilitas moneter dalam mata uang selain Dolar AS 9.566

Ltablltttes: Trade payables Taxes payable

Accrued expenses Employee benefits obligation

Excess of monetary assets over liabilities denominated in

currencies other than US Dollar (21.094) === 46 .... 9.- 46_ 2

31 Maret 2018/Jl March 2018

Prepaid value added tax

Refundable deposits

Assets; Cash on hand and In banks

Trade receivables Other receivables

329.164 2.482.466

68.766

4.692.450

99.082 7.671.928

Setara dengan USD/.

Equivalent inUSD

3.130

D1d11m ribuan Yen/

In thousands of Yen

4.124 34.134

946

64.521

1.362 105.087 ------,3="' _"" 13""" 0

Dalamjutaan Rupiallf

In millions of R11piah

Asct: Kas dan bank Piutang usaha Ph,1tang lainnya Pajak pcrtambahan nilai dibay!lr

dimuka Uangjaminan yang dapat

dikembalikan

(38.731) (760) (2.823.871) (916) (66.632)

(l l.557) (ll.l73) (945.006) (13.674) (25.956) (1.236.052) (32.582) (2.369.591)

............ ..<97.460) J37 .889) (7 .441.152).

Liabilitas: Ut1111g usaha Utangpajak Beban akrual Liabilitasjangka pendek lainnya Kcwajib1111 imbalan kerja

Asct mclcbihi Jiabililas moneter dalam mata uang selain Doler AS 7.627 (34.759)

liabilities: Trade payables Taxes payable

Accrued expenses Other current liabilities

Employee benefits obligation

Excess of monetary assets over liabilities denominated in

(230. 776) currencies other titan US Dollar

47


PERI ODE SEMBILAN BULAN YANG BERAKHIR PADA 31 DESEMBER 2018 DAN 2011/NJNE MONTH PERIOD ENDED 31 DECEMBER 2018 AND 2017

27. LIKUIDITAS

Pengelelaan risiko modal (Lanjutao)

Per 31 Desember 2018, Perseroan memiliki akumulasi rugi dan modal kerja ncgatif musing-rnasing sebesar USD 18.672.932 dan USD 13.059.027. Menindaklanjuti kondisi ini, Perseroan telah memperoleh surat dukungan keuangan dari Toray [ndustries Inc., Jepang, yang akan tcrus memberikan dukungan keuangan secukupnya agar Perseroan dapat rnclunasi plnjamannya pada saat jatuh tempo, dan memberikan pendanaan secukupnya agar Perseroan dapat meneruskan bisnisnya. Dukungan in.i tidak akan ditarik setidaknya dalarn kurun waktu 12 bu Ian sejnk 3 I Maret 20 J 8.

Perseroan juga memiliki fasilitas kredit yang belurn digunakan dari: .

- The Hank of Tokyo-Mitsubishi UFJ, Ltd., Jakarta sebesar LJSD 2.000.000 tersedia sampai 31 Maret 2019.

- The Bank of' Tokyo-Mitsubishi UPJ, Ltd., Tokyo sebesar USD 1.500.000 tersedia sampai 31 Maret 2019.

Secara bersarnaan, Pcrscroan mclanjutkan strateginya untuk:

- melakukan diversifikasi profil pelanggan dan produknya untuk memenuhi permintaan produsen germen skala intemasional dan pelanggan lainnya;

- meningkatkan penjualan alas produk-produk yang ada dengan rnenetapkan hargajual yang lebih kompctitif

• rnenurunkan biaya produksi dengan cam membeli bahan kain dasar dengan harga kompetltif dibandingkan dengan biayn produksi sendiri.

27. LIQUIDITY

Capital risk management (Continued)

As of 31 December 2018, the Company had an accumulated dejicil and negative working capital of VSD 18,672,932 and lJSD 13,059,027, respectively. In response to this condition, the Company has obtained a financial support feller from Toray Industries Inc., Japan, who will conttnue 10 provide financial support necessary 10 enable the Company to meet lts debts as and when they faff due, and make necessary funding for the Company to carry on lts business. This support will not be withdrawn for at leas/ the next twelve months from 3/ March 20/8.

The Company also has unused credit facilltles from:

The Bank of Tokyo-Mitsubishi UFJ, Ltd., Jakarta amounted lo USD 2.000,000 avallabfe through 31 March 2019.

The Bank of Tokyo-Mitsubishi UFJ. Ltd., Tokyo amounted to USD J,500,000 available through 3/ March 2019.

Concurrently, the Company continue its strategy lo;

diversify its customer profile and products to meet the demand of international garment manufacturers and other customers;

increase sales of exlstlng products by determining more competitive safes prices.

reduce manufacturing costs througl: purchase basic grey with competitive price as compared to its own production cost.

48

PT. CENTURY TEXTILE INDUSTRY Tbk (PT. CENTEX Tbk) LAPORAN … · 2019-01-31 · LAPORAN LABA RUGI DAN PENOHASlLAN KOMPREHENSIF LAIN/ STATEM.ENTOF PROF/TOR LOSS AND OTHER COMPREHENSIVE

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