PT Chandra Asri Petrochemical Tbk : Annual Consolidated Financial Statements-Dec 31, 2019

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Ciwandan, Cilegon, Banten Phone : [phone] Fax : [phone]

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‹‰†""šˆ'‡Œ ‹‰†"‡ˆŒ	‰Š† ‹‡Œˆ	"Œ˜šÃ‰1,880,989Ž-'‡"ˆ'† 2,543,219
Cash and cash equivalents	660,158	726,714	Short-term bank loan		ŽŒˆ‰Š‡†‹Œ72-	"ˆŠ '‡Œ1,709,877 2,152,729
Trade accounts payable							Cash receipts from customers
Restricted cash in banks	3,146	18,144	Œ'‰Ž'ˆ		171,112	390,490
Related parties			Cash paid to:
					23,181	6,916	Selling expenses		(41,510)	(38,753)
Trade accounts receivable			Third parties		654,214	561,962		Suppliers
			General and administrative expenses		(43,032)	(36,976)
Related parties		25,913	19,768	Other accounts payable				Directors and employees
			Finance costs		(56,387)	(51,283)
	Related parties		480	-
Third parties - net of allowance for				Gain (loss) on derivative financial instruments	8,462	(4,788)	Cash generated from operations
		Third parties		19,275	21,803
			Share in net loss of an associate		(8,507)	(14,893)	Tax restitution received
impairment	losses of US$ 118			Taxes payable		3,988	4,163
			Loss on foreign exchange - net		(2,470)	(8,053)	Payment of income taxes
thousand at December 31, 2019			Accrued expenses		10,209	6,925
			Other gains - net		11,107	18,353
		Customer advances		4,496	9,529		Net Cash Provided by Operating Activities
(December 31, 2018: US$ 243 thousand)	135,555	134,543
Current maturities of long-term liabilities:'‰Ž'ˆ"‡"•"˜šŽÃŒ‰-† Š‡"ˆ'‡Œ
				Bank loans		57,256	43,995			38,775	254,097
Other accounts receivable	8,067	6,079
Bonds payable		Ž-•'ˆ‡† -Œ"ˆ†'		(15,128)	(71,781)	Acquisitions of property, plant and equipment
Inventories - net of allowance for decline in value of			10,791	24,957					Payment of advance for purchase of property,
	Total Current Liabilities		'Ž'ˆ‰˜‡783,962™"680,250		23,647	182,316
US$ 9,141 thousand at December 31, 2019					plant and equipment
	ˆŽ-'‰˜ŒŠ'† Ž-‡ Ž‹‰† ""šˆ'‡Œ			Investment in shares
(December 31, 2018: US$ 7,061 thousand)	292,583	260,417	Deferred tax liabilities - net	140,927	139,939
Items that will not be reclassified subsequently			Placement on other current financial assets
Prepaid taxes		155,018	154,039
	Long-term liabilities - net of current maturities:		to profit or loss:				Interest received
Other current assets	108,684	76,013	Bank loans		267,230	136,165	Remeasurement of defined benefits			Proceeds from sale of property, plant and equipment
				Bonds payable		452,508	402,948	obligation, net of tax		(1,754)	920	Net Cash Used in Investing Activities
Total Current Assets	1,389,124	1,395,717	Derivative financial liabilities	3,509	10,126	Items that may be reclassified subsequently
				Post-employment benefits obligation	39,631	31,679	to profit or loss:	"˜šÃŒ‰Ž-† "Šˆ'‡Œ
Ž‹‰†"‡ˆŒ			Decommissioning cost		2,452	2,302	Net fair value gain on available-for-sale			Proceeds from short-term bank loans
				Total Noncurrent Liabilities	906,257	723,159	financial assets		2,011	-
Investment in an associate	-	8,507		Proceeds from long-term bank loans
				Foreign currency translation adjustment	273	(322)
		1,690,219	1,403,409	Proceeds from bonds payable
	""šˆ'‡ŒŽ		Total other comprehensive income for the year,
Advances for purchase of property, plant									Payment of short-term bank loans
	‡Ä‹'ˆ™				net of tax		530	598
									Payment of long-term bank loans
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and equipment		64,462	21,982
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	œ	ˆ"šŽ-'‰˜ŒŠ'† Ž-‡				Payment of bonds payable
Derivative financial assets	136	1,742	Capital stock - Rp 200 par value per share				24,177	182,914
				Authorized - 61,323,928,320 shares	ˆ˜™‡"‰Ž		Dividend payment:
Claims for tax refund	6,776	6,505
''Ž˜™‡‰'‹""š‡ˆŽ			The Company
Issued and fully paid -			›
Restricted cash in banks	4,572	9,098			Owners of the Company		22,882	181,651	Subsidiary
17,833,520,260 shares	380,947	380,947
					Withdrawal of restricted cash in banks
Property, plant and equipment - net of			Additional paid-in capital	459,075	459,075	Non-controlling interests		765	665
‡ÿ'÷"			Other comprehensive income	(2,991)	(3,543)	Profit for the year		23,647	182,316	Interest and financial charges paid
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1,868,924	2,591,920
(1,549,101)	(2,051,677)
(80,861)	(83,267)
238,962	456,976
53,927	69,751
(54,756)	(123,212)
238,133	403,515
(322,913)	(336,846)
(62,333)	(17,183)
(18)	(124)
(39,722)	(25,318)
12,835	9,913
281	7
(411,870)	(369,551)
575	-
192,007	171
53,709	69,057
(503)	-
(46,656)	(91,931)
(25,737)	-
(32,285)	(80,924)
(977)	(735)
19,524	2,675
(47,454)	(47,279)
(5,022)	(820)

US$ 1,455,180 thousand at December 31, 2019	Appropriated
(December 31, 2018: US$ 1,367,313 thousand)	1,983,188 1,726,965 Unappropriated
Other noncurrent assets
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Total Noncurrent Assets	2,062,087 1,777,769
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Žˆ"šŒ‡Žš""ˆ'‡3,451,211Œ† ®Ä‹™3,173,486

22,939	19,339
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™‡‰'‹""š‡ˆŽ	Net Cash Provided by (Used in) Financing Activities
895,570	908,573
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		Owners of the Company	23,434 182,408
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		Non-controlling interests	Œ˜'Š"š‡†ˆŒ‹Ä®†
1,755,540	1,764,391	743 506
			†®Œ˜Ä‹'Šš‡†Œ"ˆ
œˆžŸœ¡¢¤¥¦¨§'©œ¢¤£™ž24,177 182,914
5,452	5,686		'† ‰"‡™Ž‡"
1,760,992	1,770,077		†®Œ˜Ä‹'Šš‡†Œ"ˆ
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3,451,211	3,173,486		®Ž™‡"‰†
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107,181	(149,786)
(66,556)	(115,822)
726,714	842,536
660,158	726,714

1. The above financial information as of December 31, 2019 was derived from the consolidated financial statements which have been audited by Public Accounting Firm Imelda & Rekan (affiliate of Deloitte South East Asia Ltd., a member of Limited and Deloitte Network), which expressed an unmodified opinion with an other matters paragraph.

Financial information above as of December 31, 2018 is taken from consolidated financial statements which have been audited by Public Accounting Firm Satrio Bing Eny & Rekan, which expressed an unmodified opinion with an other matters0paragraph.34)5

762 2

2. Basic earnings per share is calculated based on weighted average number of shares of 17,833,520,260 shares as of December 31, 2019 and 2018.