Pt Adani Global Coal Trading

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Financial Statements of

PT Adani Global Coal Trading
For the years ended 31 March 2011 and 2010 With Independent Auditors' report thereon

Contents

Page Board of Directors' Statement Independent Auditors' Report Financial Statements : Balance Sheets Statements of Profit and Loss Statements of Changes in Shareholders’ equity Statements of Cash Flows Notes to the Financial Statements 1 2 3 4 5 - 11

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PT. Adani Global Coal Trading
Balance sheets As of 31 March 2011 and 2010 The Financial Statements are prepared in Rupiah Note Assets Current assets Cash and cash equivalents Trade receivables Loans and advances 2,011 2,010

3 4

183,641,370 683,302,850 109,818,087 976,762,307

1,093,766,187
-

350,000,000 1,443,766,187

Non current assets Fixed assets Investments Deposits Deferred tax asset

5 6 7

240,880,677 52,000,000 58,289,400 64,677,524 415,847,601

-

1,443,766,187

Total assets Liabilities and Shareholders' equity Current liabilities Tax payable Other creditors and accruals Total current liabilities Shareholders' equity Share capital : 9 Authorized capital : 4,000 shares with par value of Rp 500,000 per share. Issued and paid up capital : 3,000 shares (2009: 1,020 shares) Deficits Total shareholders' equity Total liabilities and shareholders' equity

1,392,609,908

7 8

10,080,691 68,160,719 78,241,410

-

5,000,000 5,000,000

1,500,000,000 (185,631,502) 1,314,368,498 1,392,609,908

1,500,000,000 (61,233,813) 1,438,766,187 1,443,766,187

See the accompanying notes to the financial statements, which form an integral part of these financial statements.

1

PT. Adani Global Coal Trading
Statements of Profit and loss For the years ended 31 March 2011 and 2010 The Financial Statements are prepared in Rupiah 2011 Sales Cost of good sold Gross profit (loss) Operating expenses General and administrative expenses Operating profit Other income /(expenses) - net Profit (Loss) before income tax Corporate income tax : Current Deferred Net loss 6b 64,677,524 (124,397,689) (35,508,160)

2010
-

2,733,211,400 2,612,790,584 120,420,816 (314,693,463) (194,272,647) 5,197,434 (189,075,213)

(44,456,640) (44,456,640) 8,948,480
(35,508,160)

See the accompanying notes to the financial statements, which form an integral part of these financial statements.

2

PT. Adani Global Coal Trading
Statements of Changes in shareholders' equity For the years ended 31 March 2011 and 2010 The Financial Statements are prepared in Rupiah Note Share Capital Beginning balance Movement Ending balance 5 1,500,000,000 -

2011

2010

510,000,000 990,000,000 1,500,000,000

1,500,000,000

Deficits Beginning balance Net loss for the year Ending balance (61,233,813) (124,397,689) (185,631,502) (25,725,653) (35,508,160) (61,233,813)

See the accompanying notes to the financial statements, which form an integral part of these financial statements.

3

PT. Adani Global Coal Trading
Statements of Cash flows For the years ended 31 March 2011 and 2010 The Financial Statements are prepared in Rupiah Note Cash flows from operating activities Loss before income tax Adjustments to reconsile Profit before income tax to net cash provided by operating activities : Depreciation of fixed assets

2011

2010

(189,075,213)

(35,508,160)

4,861,823 240,181,913 (683,302,850) (58,289,400) 10,080,691 63,160,719 (612,382,317)

-

Changes in working capital Loans and advances Trade receivable Oher non current assets Tax payable Accrued others Net cash used for operating activities Cash used for investing activities fixed assets addtions Investments Net cash used for investing activities Cash flows from financing activities Proceeds from shares issued Net cash from financing activities Increase in cash and cash equivalents Cash and cash equivalents - at the beginning of year Cash and cash equivalents - at the end of year

(50,000,000)
-

(525,250) 5,000,000...
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