cntx-lkt 20080001

5/13/2018 CNTX-LKT 20080001 - slidepdf.com

http://slidepdf.com/reader/full/cntx-lkt-20080001 1/36

Siddharta Siddharta & WidjajaRegistered Public Accountants

PT CENTURY TEXTILE INDUSTRY Tbk

LAPORAN KEUANGAN I FINANCIAL STATEMENTS

TAHUN BERAKHIR 31 DESEMBER 2008 DAN

PERI ODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 2007

YEAR ENDED 31 DECEMBER 2008 AND

NINE-MONTH PERIOD ENDED 31 DECEMBER 2007




LAPORAN KEUANGANIFINANCJAL STATEMENTS

TAHUN BERAKHIR 31 DES EMBER 2008 DAN

PERIODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 20071

YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007

lSI/CONTENTS

LAPORAN AUDITOR INDEPENDENIINDEPENDENT AUDITOR'S REPORT ---------------- HalamaniPage

NERACAIBALANCE SHEETS

31 DESEMBER 2008 DAN 2007131 DECEMBER 2008 AND 2007 ----------------------------- 2-3

LAPORAN LABA RUGVSTATEMENTS OF INCOME

TAIlliN BERAKHIR 31 DESEMBER 2008 DAN



NINE-MONTH PERIOD ENDED 31 DECEMBER 2007 --------------------------------------- 4

LAPORAN PERUBAHAN EKUITAS/STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY




NINE-MONTH PERIOD ENDED 31 DECEMBER 2007 ---------------------------------------- 5

LAPORAN ARUS KAS/STATEMENTS OF CASH FLOWS


PERIODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 2007/


NINE-MONTH PERIOD ENDED 31 DECEMBER 2007---------------------------------------- 6-7

CATATAN ATAS LAPORANKEUANGANINOTES TO THE FINANCIAL STATEMENTS

TAfillN BERAKHIR 31 DESEMBER 2008 DAN



NINE-MONTH PERIOD ENDED 31 DECEMBER 2007 ---------------------------------------- 8 - 34

PT Century Texti le Industry Tbk



ilWSiddharta Siddharta & WidjajaRegistered Public Accountants

33rd FloorW ism a G KBI

28. JI. Jend. Sudirman

Jakarta 10210

Indonesia

Laporan Auditor Independen

No.: L08 - 157 - 09/III .27.008

Para Pemegang Saham,Dewan Komisaris dan Dewan Direksi

PT Century Textile Industry Tbk:

Kami telah mengaudit neraca PT Century Texti le IndustryThk tanggal 31 Desember 2008 dan 2007, serta laporan labarugi, laporan perubahan ekuitas, dan laporan arus kas untuktahun dan periode sembilan bulan yang berakhir pada

tanggal-tanggal tersebut, Laporan keuangan adalah tanggungjawab manajemen perusahaan. Tanggung jawab kami terletakpada pemyataan pendapat atas laporan keuangan berdasarkan

audit kami.

Kami rnelaksanakan audit berdasarkan standar auditing yangditetapkan Institut Akuntan Publik Indonesia. Standartersebut rnengharuskan kami rnerencanakan danmelaksanakan audit agar kami memperoleh keyakinanmemadai bahwa laporan keuangan bebas dari salah saji

material. Suatu audit meliputi p em e rik sa an , a ta s dasarpengujian, bukti-bukti yang rnendukung jumlah-jumlah danpengungkapan dalam laporan keuangan. Audit juga meliputipenilaian atas prinsip akuntansi yang digunakan dan estimasisignifikan yang dibuat oleh manajemen, serta penilaianterhadap penyajian laporan keuangan secara keseluruhan.Kami yakin bahwa audit kami memberikan dasar memadai

untuk menyatakan pendapat.

Menuru t pendapat kami, laporan keuangan yang karni sebutdi atas menyajikan secara wajar, dalam semua hal yangmaterial, posisi keuangan PT Century Textile Industry Thktanggal31 Desember 2008 dan 2007, dan hasil usaha, sertaarus kas untuk tahun dan periode sembilan bulan yangbe ra khi r p a da t anggal -t anggal tersebut sesuai dengan prinsipakuntansi yang berlaku umum di Indonesia.

Sepert i dijelaskan pada Caratan Ic dan 2a atas laporankeuangan, Perseroan mengganti tahun fiskalnya dari 31 Maretmenjadi 31 Desernber, efektif 1 Januari 2008. Periodesembilan bulan dari I April 2007 sarnpai dcngan31 Desernber 2007 adalah periode transisi.

Telephone +62 (0) 21 5742333

+62 (0) 21 5742888

Fa x +62 (0) 21 5741777

+62 (0) 21 5742777

Independent Auditor's Report

No.: L.08 - 157 - 09!IlJ27.008

The Shareholders,Board of Commissioners and Board of Directors

PT Century Textile Industry Tbk:

We have audited the accompanying balance sheets of

PT Century Textile Industry Tbk as of 31 December 2008 and2007, and the related statements of income, changes inshareholders' equity, and cash flows for the year and nine-month period then ended. These financial statements are theresponsibility of the Company's management. Ourresponsibility is to express an opinion on these financialstatements based on our audits.

We conducted our audits in accordance with auditing

standards established by the Indonesian Institute of CertifiedPublic Accountants. Those standards require that we plan andperform the audit to obtain reasonable assurance aboutwhether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis,evidence supporting the amounts and disclosures in thefinancial statements. An audit also includes assessing theaccounting principles used and Signif icant estimates made bymanagement, as well as evaluating the overall financialstatement presentation. We believe that our audits provide areasonable basis for our opinion.

In our opinion, the financial statements referred to abovepresent fairly, in all material respects, the financial position ofPT Century Textile Industry Tbk as of 31 December 2008 and2007, and the results of its operations and its cash flows for theyear and nine-month period then ended in conformity with

accounting principles generally accepted in Indonesia.

As discussed in Notes 1c and 2a to the financial statements, theCompany changed itsfiscal year-end from 31 March to31 December, effective 1January 2008. The nine-month periodfrom J April 2007 to 3/ December 2007 is a transition period.

Kantor Akuntan Publik/ Registered Public AccountantsSiddharta Siddharta &Widjaja

~~

Kartika Singodimejo, SE, CPAIzin Akuntan Publik No. OO.1.0757/Public Accountant License No. 00.1.0757

Jakarta, 27 Maret 2009

L ap or an k eu an ga n t er la m pi r t id ak d im a ks ud ka n u nt uk r ne ny aji ka np os is i k eu an ga n, h as il usahad an a ru s k as b er da sa rk an p rin sip d anpraktek akuntansi yang b e rl ak u u rn um d i n eg ar a d an y ur is di ks is el ai n l nd on es ia . S ta nd ar , p ro se du r d an p ra kt ek yang diterapkand a la rn r ne n ga u di t l ap o ra n k e ua n ga n tersebut adalah yang berlakuum um d an d it er ap ka n d i I nd on es ia .

Jakarta, 27March 2009

The accompanying financial sta tements are not intended to present

the f inancial position. resul ts of operations and cash flows in

accordance with accounting principles and practices generally

accepted in countries and jurisdictions other than Indonesia . The

standards, procedures and practices to audit such financial

sta tements are those generally accepted and applied in Indonesia.

PT Century Textile Industry Tbk 1

S i do h er ta S i dd h ar ta & W id, aj a - R e g is le r ed PubliCAccountants,

an Indonesian partnership end 1:1 member f irm ofthe KPMG

network of independent member fi rms affiliated with

KPMG tnrameuona! a Swiss cooperative License No. KEP- 232/KM. 6/2002




NERACAIB AL ANCE SHEET S

31 DESEMBER 2008 DAN 200713 J DECEMBER 2008 AND 2007

(Dalam jutaan Rupiah, kecuali dinyatakan khusus!Jn millions of Rupiah, unless otherwise specified)

ASET

A~.~1 ' .~AN~AB

KAS DAN BANK

P IU TANG U SAHA

(Setelah dikurangi penyisihan

p iu ta ng r ag u- ra gu s eb es ar n ih il p ad a

31 Desember 2 00 8 d an 2 00 7):Pihak ketiga

P ih ak y an g m emp un ya i h ub un ga n

istirnewa

PERSED IAAN ( se te la h d ik ur an gi

p en yi sih an a ta s p en ur un an n il ai

p er se dia an s eb es ar R p 1 .7 74 ju ta

p er 3 I D esern ber 2008 dan

R p 2 .5 40 ju ta p er 3 1 D es em be r

2007)

P AJA K P ER TAMB AH AN N IL AI

D IB AYAR D IMUKA

KLAIM PAJAK YANG DAP A T

DIKEMBAUKAN

A SE T LANCAR LAIN -L AIN

JUMLAH ASET LAN CAR

ASETTETAP

(S et el ah d ik u ra n gi a k umu l as i

p en yu su ta n s eb es ar R p 1 92 .4 58

juta per 3 1 D esem ber 2008 dan

R p 171.752 juta per 31 D esem ber

2007)

KLAIM P AJAK YA NG DA PA T

DIKEMBAUKAN

A SE TP AJA K TANGGUHAN ,

bersih

ASET LA IN -LA IN

JUMLAH ASET TIDAK

LAN CAR

JUMLAHASET

Catatan!

Notes 2008 2007 ASSETS

. _ 9 . . l J 1 Y l f l ' ! . ! ! ! : $ . . $ _ J ! ] $ .

4 8.239 8.535 CASH ON HAND AND IN BANKS

2b,3,5 TRADE RECEIVABLES

(After deduction of allowance for

doubtful accounts amounting to

nil at 3/ December 2008 and

2007):

41.147 49.595 Third parties

7.426 12.865 Related parties

INVENTORIES (After deduction of

allowance for decline in

inventory value amounting to

Rp 1,774 million as of

31 December 2008 and


2c,6 110.101 88.304 31 December 2007)

PREPAID VALUE ADDED

19.023 7.993 TAX

2.500 2.500 TAX REFUND CLAIM

5.055 13.240 OTHER CURRENT ASSETS

193.491 183.032 TOTAL CURRENT ASSETS.......... u••n••••~.......... n...........................

l Y J I J Y : : Q ! . R ! Y J . N . r . . a _ $ . $ ! f . ! . . $ .

FIXED ASSETS

(After deduction of accumulated

depreciation amounting to


31 December 2008 and


2d,2e,3,7 223.540 223.079 31 December 2007)

1.515 TAX REFUND CLAIM

DEFERRED TAX ASSETS,

2j,lOe 13.970 net

2f 5.258 4.658 OTHER ASSETS

TOTAL NON-CURRENT

230.313 241.707 ASSETS. U04 .

423.804 424.739 TOTAL ASSETS

Lihat Catatan atas Laporan Keuangan yang merupakan

bagian tak terpisahkan dari 1aporan keuangan.

See Notes to the Financial Statements, which form an

integral part of these financial statements.





NERACA ( Lan ju tan )IBALANCE SHEETS (Con ti nu ed )

31 DESEMBER 2008 DAN 20071 31 D EC EMBE R 2008 A ND 2007

(Dalam jutaan Rupiah, kecuali dinyatakan khususlln millions oj Rupiah, unless otherwise specified)

KEWAnBAN DAN EKUIT AS

;rq;;W.AJl~AN".AN(;ARHUTANGBANKJANGKA

PENDEK

HUTANG U SAHA :

P i ha k k et ig a

P ih ak y an g m em p un ya i h ub un ga n

ist imewa

HUTANGPAJAKBEBA N M ASIH H ARU S DIBA Y AR

KEWA JI BAN LANCAR LAIN- LA IN

JUMLAH KEWAJIBAN

LANCAR

;rq;;W.AJl~.~.ImAK.~A!.'{~.~HUTANGBANKJANGKA

PANJANG

K EWA JIB AN IMBALAN PAS CA -

KERJA

PENDA PATAN D IT ANGGUHKAN

JUMLAH KEWAJJBAN

TIDAK LANCAR

MODA L S AHAM , n ila i n om in al

R p 1 .0 00 p er sa ha m:

Mo d al d as ar , d it em p atk an

s elu ru hn ya d an d is et or p en uh :

6.500.000 saham sed B dan3 .5 00 .0 00 s ah am sed A (14,5%

n o n- kumu la ti p p ar ti si pa si l ab a )

T A MB AH AN MOD AL D IS ET OR

S EL lS IH P EN ILAIA N K EMBAL l

ASETTETAP

SALDOLABA:

DicadangkanT i dak d ic a dangk an

JUMLAH EKUlT AS

JUMLAH KEWAJIBAN

DAN EKUlTAS

Catatan/

Notes

2d,14

NQN : : r : J ! f Y ! . . f : N . r . l . l 4 ! ! . . r ; U . r . I l ~ $ .

140.700 LONG-TERM BANK LOANS

POST-EMPLOYMENT BENEFITS

12.931 OBLIGATION

1.044 DEFERRED INCOME-----

TOTAL NON-CURRENT

2008 2007

8

3, 9

196.200 121.940

5.744 14.566

25.819 24.086

927 65 315.542 12.324

606 3.511

244.838 177.080

3

3

11 163.500

2i 12.495

1.660

177.655 154.675

LIABILITIES ANDSHAREHOLDERS' EQUITY

.Q!. lJM!' f . , [_~!.4lJ.!. l: l ' [ r! i.~

SHORT-TERM BANK LOANS

TRADE PAYABLES:

Third parties

Related parties

TAXES PAYABLEACCRUED EXPENSES

OTHER CURRENT LIABILITIES

TOTAL CURRENT

LIABILITIES

LIABILITIES

$ l ! . 4 - l J J H ! J ! ! t P . ! H ! § . : l J . Q J U " l TSHARE CAP ITAL, at par value of

Rp 1,000 per share:

Authorized,fully issued

and paid-up:

6,500,000 series B shares and

3,500,000 series A shares

(/4.5% non-cumulative

10.000 participating)

58 CAPITAL PAID IN EXCESS OF PAR

12

13

10.000

58

14.451

2.000____ ~(8_.7_47~) 66_.4_7_5

1.311 92.984

423.804 424.739


bagian tak terplsahkan dari laporan keuangan.

REVALUATION INCREMENT

RETAINED EARNINGS:

Statutory reserveUnappropriated

TOTAL SHAREHOLDERS'

EQUITY

TOTAL LIABILITIES AND

SHAREHOLDERS'EQUITY


integral part of these financial statements,

PT Century Texti le Industry Tbk 3




LAPORAN LABA RUG I/ST AT EMENTS OF lNCOME

TAH UN BERAK HIR 31 DESEM BER 2008 D ANP ER IO DE SEMBILA N B ULAN B ER AKHIR 31 D ESEMBE R 20071

YEAR ENDED 31 DECEM BER 2008 AND NlNE-M ONTH PERIO D ENDED 31 DECEMBER 2007

(D a lam ju ta an R u pia h, k ec ua li d in ya ta ka n khususlln millions of Rupiah, unless otherwise specified)

Perlode

Sembllan

bulan

Tahun berakbir

berakhir 31 Desember/

3] Desemberl Nine-month

Year ended period ended

Catatanl 31 December 31 December

Notes 2008 2007

PENJUALAN 2g,3,15 369.654 268.182 SALES

BEBAN POKOK PENJUALAN 2c,3,16 (340.719) (252.791) COST OF SALES

LABAKOTOR 28.935 15.391 GROSS PROFIT

BEHAN USAHA: OPERA TING EXPENSES:

Beban penjualan 3,17 (29.981 ) (23.493) Selling expenses

Beban umum dan administrasi 3,18 (16.780) (10.557) General and administrative expenses

(46.761) (34.050)

RUGIUSAHA (17.826) (18.659) OPERA TING LOSS

BEBAN LAIN·LAIN: OTHER EXPENSES:

Laba (rugi) penjualan aset tetap,

bersih 7 554 (116) Gain (loss) on sale offixed assets, netPendapatan bunga 57 43 Interest income

Beban bunga (12.471) (10.206) Interest expenses

Rugi kurs, bersih 2h (47.596) (8.029) Foreign exchange loss. net

Beban lain-lain, bersih (421) (936) Miscellaneous expense, net

(59.877) (19.244)

RUGI SEBELUM PAJAK (77.703) (37.903) LOSS BEFORE TAX

(BEHAN) PENGHASfLAN PAJAK: 2j,IOd INCOME TAX (EXPENSE) BENEFIT:

Pajak kini Current tax

Pajak tangguhan (13.970) 103 Deferred tax

(13.970) 103

RUGf BERSIH (91.673) (37.800) NET LOSS

Rugi berslh per saham dasar Primary net lossper share (in whole(dalam Rupiah penuh) 21,19 (9.167) (3.780) Rupiah)


baglan tak terpisahkan dari laporan keuangan.

See Notes to the Financial Statements, which form anintegral part of thesefinancial statements.

PT Century TextileIndustry Tbk 4




LAPORAN PERUBAHAN E KU IT AS/STA TEM EN TS O F CHANG ES IN SH AR EHOLDER S' EQUITY


PERlODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 20071

YEAR ENDED 31DECEMBE R 2008 A ND N IN E-MON TH P ER IOD ENDED 31 DECEMBER 2007

(Dalamjutaan Rupiah, kecuali dinyatakan k hu su slIn m illio ns o f R up ia h, u nle ss o th erwis e s pe cifie d)

Tambahan Selisih (Akumulasi rugi) Saldo labal

modal pcnilaian (Accllmillated deficit) Jumlah

Modal disetorl kembali Retained earnings ekuitasl

sahaml Capital paid aset tetap/ Dicadangkanl Tidak Total

Share in excess of Revaillation Statlltory dicadangkanl shareholders'capital par Increment reserve Unappropriated equity

Saldo per 31 Maret 2007 10.000 58 14.451 2.000 104.275 130.784 Balance as of 31March 2007

Rugi bersih periode

berialan (37.800) (37.800) Net lossfor theperiod

Saldo per 31 Desember Balance as of 31 December

2007 10.000 58 14.451 2.000 66.475 92.984 2007

Rek la s if ika s i s e li s ih

p e ni la ia n k emba li a s et Reclassification of revaluation

tetap ke saldo laba increment to retained

(Catatan 14) (14.451) 14.451 earnings (Note 14)

Rugi bersih tahun

berjalan (91.673) (91.673) Net lossfor the year

Penggunaan dana

cadangan untuk

menutup kerugian Umge of statutory reserve 10

Perseroan sesuai cover the Company's loss

dengan pasal 25 (2) inaccordance with

dari Anggaran article 25 (2) of itsArticlesDasarnya (2.000) 2.000 of Association

Saldo per 31 Desember Balance as of 31 December

2008 10.000 58 (8.747) 1.311 2008


bagian tak terpisahkan dari laporan keuangan.

See Notes to the Financial Statements, which form an integral

part of thesefinancial statements.





LAPORAN ARUS KAS/STATEMENTS OF CASH FLOWS


PERlODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 2007/


(Dalamjutaan Rupiah, kecuali dinyatakan khususlIn millions of Rupiah, unless otherwise specified)

Tahun berakhlr

31 Desemberl

Yearended

31 December2008

Peri ode sembilan

bulan berakhir

31 Desemberl

Nine-month

Period elided2007

ARUS KAS DARI AKTIVIT AS

OPERASI:Penerimaan kas dad pelanggan

Pembayaran kas kepada pemasok

Pernbayaran kas kepada direksi dan

karyawan

Penerimaan (pembayaran) kas dari/untuk

aktivitas operasi lainnya

Kas yang digunakan untuk aktivitas

operasi

Penerimaan bunga

Pembayaran bunga

Pembayaran pajak penghasilan

Pengembalian pajak penghasilan

Kas bersih yang digunakan untuk

aktivitas operas! J.~.?:.~.~~) . Q . : . ' . . ~ H .

393.113 261.503

(371.244) (229.657)

(38.639) (28.390)

11.131 (8.699)

(5.639) (5.243)

57 43

(12.039) (8.075)

(1.515) (2.500)

8.663

ARUS KAS DARI AKTlVIT AS

INVESTASI:

Perolehan aset tetap

Hasil penjualan aset tetap

Kas bersih yang digunakan untuk

aktivltas investasi

(28.665)

1.296

(29.968)

590

. . . . . . . . . . . . . . .J ? Z ; ~ . ~ ? ) , ~ ~ ? : ? . 7 . ~ ~.

ARUSKASDARIAKTnnTAS

PENDANAAN:

Penerimaan hutang bank jangka pendek

Pelunasan hutang bankjangka pendek

Kas bersih yang diperoleh dari

aktivitas pendanaan

216.380(170.590) _

41.315

45.790 41.315


bag!an tak terplsahkan dari laporan keuangan.

CASH FLOWS FROM OPERATING

ACTIVITIES:Cash received/rom customers

Cashpaid to suppliers

Cashpayments to directors and

employees

Cash received/rom (paid/or) other

operating activities

Cash used in operating activities

Receipts a/interest

Payments 0/ interest

Payments 0/ income tax

Refund of income tax

Net cash used in operating

activities

CASH FLOWS FROM INVESTINGACTIVITIES:

Acquisition 0/ fued assets

Proceeds/rom sale offixed assets

Net cash used in

investing activities

CASH FLOWS FROM FINANCING

ACTIVITIES:Proceedfrom shari-term bank loans

Repayment of short-term bank loans

Net cash provided by financingactivities


integral part of thesefinancial statements.





LAPORAN ARUS KAS (Lanjutan)ISTATEMENTS OF CASH FLOWS (Continued)


PERlODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 20071


(D a la m ju ta an Rupiah, kecuali dinyatakan khusus/ln millions of Rupiah, unless otherwise specified)

2008 2007

(PENURUNAN) KENAIKAN BERSIH KAS NET (DECREASE) INCREASE IN CASH

DAN BANK (715) 4.825 ON HAND AND IN BANKS

PENGARUH SELISIH KURS ATAS KAS FOREIGN EXCHANGE GAIN ON CASHDAN BANK 419 150 ON HAND AND IN BANKS

CASH ON HAND AND IN BANKS

KAS DAN BANK AWAL TAHUN/PERIODE 8.535 3.560 BEGINNING OF YEARIPERIOD

CASH ON HAND AND IN BANKS

KAS DAN BANKAKHIR TAHUN/PERIODE 8.239 8.535 END OF YEAR/PERIOD

AKTIVIT AS INVEST ASI YANG TTDAK

MEMPENGARUHI ARUS KAS: NON-CASH INVESTING ACTIVITIES:

Acquisition offixed assets which is still

P emb elia n a se t te ta p y an g m a sih te rh uta ng 454 1.600 payable


bagian tak terpisahkan darllaporan keuangan.


integralpart of these financial statements.

PT C en tu ry T ex tile I nd us try T bk 7




CATATAN ATAS LAPORAN K EU ANGANINOT ES TO THE F IN ANCIA L STA TEMENTS



YEAR ENDED 31 DECEMBE R 2008 A ND N IN E-MON TH P ER IOD ENDED 31 DECEMBE R 2007

1. UMUM 1. GENERAL

a. Pendirian Perusahaan a. The Company's establishment

Perseroan didirikan dengan nama PT Century Textile

Industry disingkat PT Centex dalam rangka Penanaman

Modal Asing ("PMA") berdasarkan Undang-Undang

No.1 tahun 1967 jo, Undang-Undang No. II tahun

1970, dengan akte notaris Dian Paramita

Tamzil (pengganti notaris Djojo Muljadi SH) tanggal

22 Mei 1970 No. 52, yang diubah dengan akte notaris

Ojojo Muljadi SH tanggal 25 Januari 1971 No. 90.

Akte-akte ini disetujui oleh Menteri Kehakiman dengan

No. J.A.5/19119 tangga! 10 Pebruari 1971, didaftarkan

di Pengadilan Negeri Jakarta dengan No. 508 dan 509

tanggal 16 Pebruari 1971, dan diumumkan dalam

Tambahan No. ISO pada Berita Negara No. 25 tanggal

26 Maret r 97 [. Anggaran Dasar Perseroan telah diubah

beberapa kali. Mengenai perubahan nama Perseroan

menjadi PT Century Textile Industry Tbk disingkat

PT Centex Tbk dilakukan dengan akte-akte notaris

Singgih Susilo SH tanggal 20 September 1997 No. 65,

dan tanggal 21 Oktober 1997 No. 100, serta akte

notaris Irene Yulia Susilo SH (pengganti notaris

Singgih Susilo SH) tanggal 8 Januari 1998 No. 22.

Akte-akte ini disetujui oleh Menteri Kehakiman dengan

No. C2-202S.HT.01.04.Th.98 tanggal 20 Maret 1998,

dan diumumkan dalam Tambahan No. 2704 pada Berita

Negara No. 41 tanggal 22 Mei 1998. Perubahan

terakhir dilakukan dengan akte notaris Haji Syarif

Siangan Tanudjaja SH tanggal 4 Agustus 2008 No.2.

Perubahan ini dibuat untuk mematuhi Undang-Undang

No. 40 tahun 2007 tentang Perseroan Terbatas, Akte ini

disetujui oleh Menteri Hukum dan Hak Asasi Manusia

dengan No. AHU-59078.AH.OI.02.Tahun 200S tanggal

4 September 2008.

b .

Sesuai dengan pasal 3 dari Anggaran Dasamya,

Perseroan beroperasi dalam industri tekstil terpadu.

Kegiatan kornersial dimulai pada tahun 1972.

Penawaran umum efek perusahaan

(i) Sesuai dengan surat Ketua Bapepam No. SJ-

002IPMlE/1979 tanggal 4 Mei 1979 mengenai

Izin Menawarkan Efek di Bursa, Perseroan telah

melakukan penawaran umum kepada masyarakat

melalui pasar modal sejumlah 116.000 saham

dengan nilai nominal Rp 5.000 per saham.

PT Century TextileIndustry Tbk

The Company was established under the name of

PT Century Textile Industry abbreviated as

PTCentex in the framework of Law No.1 of 1967

and Law No. 11 of 1970 on foreign capitalinvestment by deed of notary public Dian ParamitaTamzil (substitute for notary public Djojo

Muljadi SH) dated 22 May 1970No. 52 , amended bydeed of notary public Djojo Muljadi SH dated

25January 1971No. 90. These deeds were approvedby the Minister of Justice under No. J.A.5119119on

10February 1971, registered at the Jakarta Court ofJustice under No. 508 and 509 on 16February 1971,and published in Supplement No. 150 to State

Gazette No. 25 on 26 March 1971. The Company'sArticles of Association have been amended severaltimes. Concerning the change in the Company'sname to PT Century Textile Industry Tbk abbreviatedas PT Centex Tbk was effected by deeds of notary

public Singgih Susilo SH dated 20 September 1997No. 65, dated 21 October 1997 No. 100. and notarypublic Irene Yulia Susilo SH (substitute for notarypublic Singgih Susilo SH) dated BJanuary 1998

No. 22 . Thesedeeds were approved by the Minister of

Justice under No. C2-202B.HT.Ol.04.Th.98 on20 March 1998, and published in Supplement

No. 2704 to State Gazette No. 41 on 22 May I99B.The latest amendment was affected by deed of notarypublic Haji Sharif Siangan Tanudjaja SH dated 4August 200B No.2. The amendment was made tocomply with Law No. 40 year 2007 regardingLimited Liability Company Law. This deed wasapproved by the Minister of Law and Human Rightsunder No. AHU-5907B.AH.Ol.02. Tahun 200B on 4

September 200B.

According to article 3 of its Articles of Association,the Company operates in a fully integrated textileindustry. Commercial activities commenced in 1972.

h. TheCompany's public offering

(I) In accordance with letterfrom Chairman of theCapital Markel Supervisory Agency("Bapepam") No. SI-0021PMIE11979 dated4 May 1979, "Permit to offer shares in capitalmarket", the Company has publicly offered.through the capital market, 116,000 shareswith apar valueof Rp 5,000 per share.

B




C AT AT AN A TA S LAPORANKEUANGANINOTES TO THE FINANCIAL STATEMENTS

T AHUN B ER AKHIR 31 D ES ElV IB ER 2008 D AN

P ER IO DE S EM BILA N BULAN B ER AKHIR 31 D ES EM BE R 20071YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007

1 . UMUM (Lanjutan) 1. GENERAL (Continued)

(ii) Sesuai dengan surat Ketua Bapepam No. 81-0201

P M / E / 1 9 8 3 tanggal 24 September 1983 mengenai

Izin Menawarkan Efek di Bursa, Perseroan telah

melakukan penawaran umum kedua kepada

masyarakat melalui pasar modal sejumlah 584.000

saham dengan nilai nominal Rp 5.000 per saham.

(iii) Dengan sura! PT Bursa Efek Surabaya No. 0510-

02IBESNIIl/1989 tanggal 8 Agustus 1989 dan

surat PT Bursa Efek Jakarta No. S-273/BEJN1/

1992 tanggal 26 Juni 1992, 700.000 saham

Perseroan telah dicatatkan di Bursa Efek Surabaya

dan Jakarta.

(iv) Dalam tahun 1993 telah dilakukan pemecahan nilai

nominal saham ("stock split") dati Rp 5.000 per

saham menjadi Rp 1.000 per saham sehingga

jumlah saham beredar bertambah dari 700.000

menjadi 3.500.000 saham seri A. Oleh karen a itu

sebanyak 3.500.000 saham seri A telah dicatatkan

di Bursa Efek Jakarta dan Surabaya.

(v) Sesuai dengan surat PT Bursa Efek Jakarta No. S-

3312IBEJ.EEMIlI-2000 tanggal 9 Nopcmber 2000

dan sura! PT Bursa Efek Surabaya No. JKT-

OI9IMKT-USTIBES/I/2001 tanggal 29 Januari

2001, Perseroan telah mencatatkan saham sed B

sebanyak 6.500.000 saham di Bursa Efek Jakarta

dan Surabaya. Pencatatan saham tersebut dilakukan

masing-masing pada tanggal 22 Desember 2000

dan 5 Pebruari 200 I sesuai dengan pengumuman

No. PENG-238IBEJ-EEMIl2-2000 dan No. JKT-

006IMKT-L1ST-PENGIBES/H/2001 di Bursa Efek

Jakarta dan Surabaya, sehingga seluruh saham

Perseroan yang beredar, yaitu sebanyak 10.000.000

saham telah dicatatkan seluruhnya di Bursa Efek

Jakarta dan Surabaya.

Sehubungan dengan penggabungan PT Bursa Efek

Surabaya ("BES") ke dalam PT Bursa Efek Jakarta

("BE]"), dan selanjutnya BEJ berubah nama

rnenjadi PT Bursa Efek Indonesia ("BEl") sejak

tanggal 30 Nopember 2007, rnaka saham Perseroan

yang beredar telah dicatatkan seluruhnya di BEL

(if) In accordance with letter from Chairman of the

Bapepam No. S!-020IPM/El1983 dated

24 September 1983, "Permit to offer shares in the

capital market ", the Company has publicly made

the second offer through the capital market,

584,000 shares with a par value of Rp 5,000 pershare.

(iii) By letter of PT Bursa Efek Surabaya No. 05ID-02/

BESIVllll1989 dated 8 August 1989 and letter of

PT Bursa Efek Jakarta No. S-273IBElIVI//992

dated 26 June 1992, 700,000 shares of the

Company have been listed at the Surabaya and

Jakarta StockExchanges.

(iv) In 1993 the par value of the shares was split

("stock split") from Rp 5,000 to Rp 1,000 per

share; consequently, the number of outstanding

shares increased from 700,000 to 3,500,000

series A shares. Therefore 3,500,000 series A

shares have been listed at the Jakarta and

Surabaya StockExchanges.

(v) According to letter from PT Bursa Efek

Jakarta No. S-3312/BEJ.EEM/1l-2000 dated

9November 2000 and letter from PT Bursa Efek

Surabaya No. JKT-O19/MKT-L1STIBESII12001

dated 29 January 2001, the Company registered the

series B shares of 6,500,000 shares at the Jakarta

and Surabaya Stock Exchanges. The shares were

listed all 22 December 2000 and 5 February 2001,

respectively, by the announcements No. PENG-

238IBEl-EEM/12-2000 and No. JKT-006IMKT-

LlST-PENG/BES/II!2001 at Jakarta and Surabaya

Stock Exchanges, respectively, therefore all of the

Company's issued shares of 10,000,000 shares,

have been listed at the Jakarta and Surabaya Stock

Exchanges.

In connection with the merger of PT Bursa Efek

Surabaya ("BES'') into PT Bursa Efek Jakarta

("BEl''), BEl then changed its name to PT Bursa

Efek Indonesia ("BEl'') since 30 November 2007,

therefore all of the Company's issued shares, were

listed at the BEl.





C AT AT AN A TA S L AP OR AN K EU ANGAN/NOTE S TO THE F IN ANCIA L STA TEMENT S

T AH UN BERA KH IR 31 D ESEM BER 2008 D AN

P ER IO DE SEMB ILA N B ULAN B ER AKHIR 31 D ESEMB ER 20071

Y EAR EN DED 31 D EC EM BER 2008 AN D NINE-M ONTH PERIO D EN DED 31 D EC EM BER 2007

1. UMUM (Lanjutan) 1. GENERAL (Continued)

c. P erseroan m enggan ti tahun fiskalnya dari 1 April -

31 M aret m en jadi I Januari - 31 Desem ber, e fektif

I Januari 2 0 08 . P e ri od e sembilan bulan dari I A pr il 2 00 7

s am pa i d en ga n 3 1 D ese mb er 2 00 7 a da la h p erio de tra ns is i.

P erubahan ini disetuju i oleh Rapat Umum P em egang

S ah am L ua r Biasa Perseroan te rta ng ga I 7 S ep te m be r 2 00 7y ang r is a la h rapatnya diaktakan dengan a k ta n o ta ri s p u bli k

Irene Yu lia SH tanggal 7 Sep tem ber 2007 No .9, dan

d is etu ju i o Ie h K ep ala K an to r P e la ya na n P aja k P e ru sa ha an

M asuk Bursa dengan su rat No . KEP .OOOOIITHBK!

WPJ .07 /KP .0803 !2007 ta ng ga l1 O k to be r 2 00 7.

d. K aryaw an, D ew an D ireksi d an D ew an K OnU saris

P er 31 Desem ber 2008 dan 2007, su sunan Dew an

K om isaris d an D ew an D irek si P erseroan adalah sebag ai

berikut :

31 Dc sembe r /31 December

2008

Presiden Komisaris

Kom i sa r is I n dep end en

Komisaris

Tn.lMr. Suh ard i Bud iman

Tn.lMr. T e ts uo K o nd o

Tn.lMr. Masah ir o Kawa shima

P r e si d en D i re k tu r

Wakil P r e si de n D i re k tu r

Direktur-di rektur

Tn.lMr. Yosh io Sh in g eya

Tn.lMr. Mu l ja di B u dim an

Tn.lMr. T e ts uy a F uk u i

Tn.lMr. Ka tsu h ik o I c hi ba

Tn.lMr. Ma s ut os hi U e da

Tn.lMr. To shi ya I s hi i

P er 31 Desem ber 2008 dan 2007, P erseroan

m em pekerjakan m asing-m asing 536 dan 555 karyaw antetap.

e . P erseroan be rdom isili d i Sum mitm as Tower II lantai 3 ,

Ja la n Je nd era l S ud irm an K av . 6 1- 62 , Ja ka rta d an m em ilik i

p ab ri k t ek st il y an g b er lo k as i d i C ir ac a s, J ak a rt a.

f. P erseroan, m elalu i pem egang saham mayoritasnya,

m er up ak an b ag ia n d ati k elo mp ok u sa ha T ora y In du str ie s

Inc., Jepang dan Kanem atsu Corporation, Jepang,

K elom po k u sah a in i m em ilik i b eberapa an ak perusahaa n

d an p eru sa ha an a filia si d i s elu ru h d un ia (s ela nju tn ya lih at

C a ta ta n 3 ).

c. The Company changed its fiscal year from 1April -

31 March to 1 January - 31 December, effective

1 January 2008. The nine-month period from 1April

2007 to 31 December 2007 is a transition period.

This change was approved by the Extraordinary

General Shareholders' Meeting of the Company on7 September 2007. minutes notarized by notary

public Irene Yulia SH dated 7 September 2007 by

deed No. 9 and approved by the Head of Stock

Exchange Tax Office by its Letter No. KEP.OOOOIl

THBKlWPJ.07/KP.0803/2007 dated 1 October 2007.

d. Emplovees. Board or Directors and Board or

Commissioners

As of 31 December 2008 and 2007, the composition

of the Company's Board of Commissioners and

Board of Directors is as follows:

31 De sembe r /3 ! December

2007

Tn. lMr. Suhardi Bud iman

Tn.lMr. T e ts uo K o nd o

Tn.lMr. Ma s ah ir o K aw as him a

President Commissioner

Independent Commissioner

Commissioner

Tn.lMr. T e ts uo O s hi da

Tn.lMr. Mu l ja di B u dim an

Tn.lMr. T e ts uy a F u ku i

Tn.lMr. Ma s ao K o jim a

Tn.lMr. Ma su to sh i U ed a

Tn.lMr. To sh iy a I sh ii

President Director

Vice President Director

Directors

As of 31 December 2008 and 2007, the Company

employed 536 and 555 permanent employees,respectively.

e. The Company is an Indonesian domiciled company

with its office located at Summitmas Tower II 3rd

floor, Jalan Jenderal Sudirman Kav. 6/-62, Jakarta,

and its plant is located at Ciracas, Jakarta.

f. The Company, through its majori ty shareholders, is

ultimately part of the Toray Industries Inc., Japan

and Kanematsu Corporation, Japan Groups. The

Groups have subsidiaries and aff il iates throughout

the world (see further Note 3).

PT Century Textile Industry Tbk /0




CATATAN ATA S LAPORAN KEUANGANINOTES TO THE FINANCIAL STATEMENTS

TA HUN BERA KH IR 31 D ESEM BER 2008 D AN

P ER IO DE S EMBILA N B ULAN B ER AKHIR 31 D ES EMB ER 2007/YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007

1. UMUM (Lanjutan) 1. GENERAL (Continued)

g. Laporan keuangan telah disetujui untuk diterbitkan oleh

manajemen pada tanggal 27 Maret 2009.

g. Thefinancial statements were authorized for issue by

themanagement on 27 March 2009.

2. IKHTISAR KEBIJAKAN AKUNTANSI

YANG PENTING

2. SUMMARY OF SIGNIFICANT

ACCOUNTING POLICIES

Dalarn pembukuan dan pelaporan keuangannya, Perseroan

menganut kebijakan akuntansi sesuai dengan prinsip akuntansi

yang berlaku umum di Indonesia. Kebijakan-kebijakan

akuntansi yang penting, yang diterapkan secara konsisten dalam

penyusunan laporan keuangan tahun dan periode sembilan

bulan berakhir 31 Desember 2008 dan 2007, adalah sebagai

bcrikut:

Dasar penyusunan 1aporan keuangan

Laporan keuangan, yang disajikan dalam jutaan Rupiah,

disusun atas dasar akrual dengan konsep harga

perolehan/nilai historis, kecuali untuk aset tetap tertentu

yang telah dinilai kembali (Catatan 2d).

Laporan keuangan Perseroan untuk periode sembi Ian

bulan berakhir 31 Desember 2007 disusun untuk

perubahan tahun fiskal Perseroan (lihat Catatan lc).

Angka-angka yang disajikan di laporan laba rugi, laporan

perubahan ekuitas, laporan arus kas, dan catatan atas

laporan keuangan untuk tahun dan periode sembilan

bulan berakhir 31 Desember 2008 dan 2007 tidak dapat

diperbandingkan.

Laporan arus kas menyajikan perubahan dalam kas dan

bank dari aktivitas operasi, investasi dan pendanaan.

Laporan arus kas disusun dengan metode langsung

(direct method).

b. Penyisihan piutang ragu-ragu

a.

Penyisihan piutang ragu-ragu dilakukan berdasarkan

penelaahan manajemen atas status masing-masing debitur

pada akhir tahun. Piutang yang tidak tertagih dihapuskan.

The accounting and reporting policies adopted by the

Company conform to' accounting principles generally

accepted in Indonesia. The significant accounting policies,

consistently applied in the preparation of the financial

statements for the year and nine-month period ended

31 December2008 and 2007, were asfollows:

a. Basisfor preparation of the financial statements

The financial statements, presented in millions of

Rupiah, are prepared on the accrual basis using the

historical cost concept, exceptfor certain fixed assets,

which have been revalued (Note 2d).

The Company's financial statements for the nine-

month period ended 31 December 2007 were

preparedfor the change of the Company's fiscal year

(see Note J c). The amounts stated in the statements of

income, changes in shareholders' equity, cashflows

and notes to thefinancial statementsfor theyear and

nine-month period ended 31December 2008 and

2007 were not comparable.

The statements of cash flows present the changes in

cash on hand and in banksfrom operating, investing

andfinancing activities. The statements of cashflows

areprepared using the direct method.

b, Allowancefor doubtful accounts

Allowancefor doubtful accounts isprovided based on

management's evaluation of the status of each debtor

atyear end. Uncollectible accounts are written off.





CATATAN ATAS LAPORAN KEUANGANINOTES TO THE FINANCIAL STATEMENTS





YANG PENTING (Lanjutan)


ACCOUNTING POLICIES (Continued)

c. Penilaian persediaan

P ersediaan dinilai m enurut harga yang lebih rendah

an tara harga perolehan dan nila i bersih yang dapat

direalisasi.

H ar ga p er ole ha n b ar an g ja di d ih itu ng b er da sa rk an b eb an

p ok ok p ro du ks i r at a- ra ta s eb en amy a.

Harga pero lehan barang dalam pengolahan dihitung

s eb es ar b eb an p ok ok p ro du ks i r ata -r ata s eb en am ya s es ua i

d eng an e s tima si t in g ka r p eny e le s ai an nya .

Harga perolehan bahan baku, bahan pem ban tu dan

k ep er lu an p ab ri k d ih it un g d en ga n m e to de r at a- ra ta .

d. Aset Tetap

(i) D ala rn ran gk a p em as ya rak ata n s ah am P erse ro an d i

bursa efek dalam tahun 1979, tanah (Hak Guna

B an gu na n) y an g d ip er ole h s eb elu m D es er nb er 1 97 9

dinyatakan dengan nila i pasar w ajar tanggal

30 Nopcmber 1978, yang ditentukan oleh

p er us ah aa n p en ila i in de pe nd en y an g d ia ku i. T an ah

yan g diperoleh di tahun 198 6 dinyatakan d eng an

ha rga pe ro lehan .

(ii) D alam rangka pem asyarakatan sah am P erseroan

dalarn tahun 1979 dan m engikuti K eputusan

Me n te ri K e ua ng an N o . KEP -1 67 71MX II J/ 12 11 97 6

tanggal 28 Oesem ber 1976, aset tetap yangdiperoleh sam pai dengan 30 N opem ber 197 8 (aset

yang untuk tujuan fiskal tidak boleh disu sutkan)

dinila i dengan nilai sehat tanggal 30 Nopcm ber

1978, yang ditentukan oleh perusahaan penila i

in dep cn de n ya ng d iak ui, d an se ja k D es em be r 1 97 8

d is usu tk an d en ga n c ara g aris lu ru s s cb es ar 2 611 %

se ta hu n (3 5 ta hu n) d ari n ila i se ha t, se su ai d en gan

k ep utu sa n O ir ek tu r Je nd er al P aja k N o. S-301PJ.611

1 97 9 ta ng ga l 9 M are t 1 97 9. A se t in i tid ak ter ma su k

d ala m p en ila ia n k em b ali 1 la nu ar i 1 98 7.

PT Century TextileIndustry Tbk

c. I nv en to ry va ll la ti on

Inventories are valued at the lower oj cost or netrealizable value.

Cost of finished goods is computed using average

actualproduction cost.

Cost of work in process is computed based on the

average actual production cost proportional to their

estimated stage of completion.

The cost of raw materials, supplementary materials

and factory supplies is computed using the average

method.

d. Fixed assets

(0 In the framework oj the listing of the

Company's shares in 1979, land (Hak Guna

Bangunan, non-ownership titles of limited

duration). which was acquired before

December 1979 was appraised at fair market

value at 30 November 1978, as determined by

an approved independent appraisal company.

Land that was acquired in 1986, is valued at

cost.

(ii) In the framework of the listing of the

Company's shares ill 1979 and following

Finance Minister Decree No. KEP-1677IMX!II!

1211976 on 28 December 1976, fixed assetsacquired through 30 November 1978 (non-

depreciable assets Jor tax purposes) were

valued at 30 November 1978 sound value as

determined by an approved independent

appraisal company, and were depreciated

using the straight-line method, at 2 % percent

per annum (35 years) of their sound value

starting in December 1978, in accordance with

Tax Director General ruling No. S-30IPJ.61!

19790119 March 1979. These assets were not

qualifiedJor the 1January 1987 revaluation.

12




C AT ATAN A TA S L AP OR AN KEUANGANINOTES TO THE FINANCIAL STATEMENTS

T AH UN BERA KH IR 31 D ESEM BER 2008 D AN

P ER IO DE S EMBILA N B ULAN B ER AKHIR 31 D ESEMB ER 2007/YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007

2, IKHTISAR KEBIJAKAN AKUNTANSI




(iii) A set te tap yang dipero leh sam pai dengan

12 S eptem ber 1986 dan yang telah dinilai kem bali

sesuai dengan P eraturan P ernerin tah No . 4511986

tanggal 20ktober 1986, disajikan dengan nilai

r ev alu as i ta ng ga l Ianuari 1987 sesuai denganpersetu juan Inspeksi P ajak No. KEP-003IWP J .I 01

KI-1212/89 ta ng ga l 7 1a nu ar i 1 98 9. A se t y an g d in ila i

k em b ali te rs eb ut s ela nju tn ya d is us utk an d en ga n c ar a

gads lurus, berdasarkan taksiran sisa masa

m an fa atn ya , d en ga n p er se nta se tahunan dari nilai

r e va lu a si ny a s e bag ai b e ri ku t:

(iii) Fixed assets acquired through 12 September

1986 and, which have been revaluated pursuant

to Government Regulation No. 45/1986 of

2 October 1986 were valued at Revaluation

Value I January 1987 in accordance with tax

inspection approval No. KEP-003/WP J.lO/Kl-

1212/89 on 7 January 1989. Depreciation of

these revalued assets is applied using the

straight-l ine method, over estimated useful l ives,

at the following annual percentages of

revaluation values:

Bangunan

Me s in d an p er al at an pabrik

P e rk ak as , p er le ng ka pa n, d an p er ab o t

K e nd ar aa n b crm ot or

61 /4% (1 6 tahunlyears)

16 2/3% ( 6 tahunlyears)

25% (4 tahunlyears)

25% (4 tahunlyears)

Buildings

Plant machinery and equipment

Tools.furniture and fixtures

Motor vehicles

Selisih penila ian kem bali sebesar Rp 14.451 juta

sesuai dengan persetujuan Inspeksi P ajak di atas

disajikan di neraca sebagai b ag ia n d ar i ekui ta s d a lam

a ku n S elis ih P en ila ia n K em b ali A se t T eta p.

P ada tahun 2008, P erseroan m enerapkan PSAK

No. 16 (revisi 2007) "A set Tetap", dan

m erek lasifikasi seluruh saldo selisih Penilaian

Kernbal i Aset T etap te rse bu t k e sa ld o la ba (C atata n

14). P erseroan m enggunakan m odel biaya (cost

m o de l) u ntu k m en gu ku r a se t te ta p s eb ag ai k eb ija ka n

akuntansinya dan m enerapk an kebijakan tersebut

terhadap seluruh aset te tap dalam kelom pok yang

sarna.

(IV) A se t te ta p (as et ya ng u ntu k tu ju an fisk al tid ak b ole h

disusutk an) yang d iperoleh dari 1 D esem ber 197 8

s am pa i d en ga n 1 2 S ep te mb er 1 98 6 (ya ng tid ak boleh

dinilai k em b al i t an gg al 1 la nu ar i 1 98 7) serta semua

aset te tap yang diperoleh sejak 1 3 S ep te mb er 1 98 6

din ila i dengan harga perolehannya dikurangi

a kum ula si p en yu su ta n. P en yu su ta n d ih itu ng d en ga n

cara gads lurus, berdasarkan taksiran masa

m an faa tn ya , d en ga n p erse ntas e ta hu na n d ari harga

p er ol eh an s eb ag ai b er ik u t:

The revaluation increment of Rp 14,451 million

pursuant to the tax inspection approval

mentioned above is presented as a part of the

shareholders' equity as Revaluation Increment.

In 2008, the Company implemented SFAS No. 16

(revised 2007) "Fixed Assets ", and reclassified

the remaining balance of the revaluation

increment to retained earnings (Note 14). The

Company uses the cost model to measure its fixed

assets as its accounting policy and apply that

policy to an entire class off ixed assets.

(iv) Fixed assets (non-depreciable assets for lax

purposes) acquired sinceJ

December 1978through 12 September 1986 (which were not

subject to the 1 J anuary 1987 revaluation) and

also all fixed assets acquired since 13 September

1986 are valued at acquisition cost, less

accumulated depreciation. Depreciation is

calculated using the straight-line method, over

estimated useful lives at the following annual

percentages of cost:

Bangunan

M e sin d an p er ala ta n p ab rik

P e rk ak as , p er le ng k ap an , d an p er ab ot

Kenda r aa n b e rmo t or

2 1 1 2 % (4 0 tahunlyears)

8 1 1 3 % (1 2 tahunlyears)

10% (10 tahun..years)

20% ( 5 tahunlyears)

Buildings

Plant machinery and equipment

Tools.furniture and futures

Motor vehicles

PT Century Texti le Industry Tbk 13




C AT A T AN A T A S LA PO RAN KEUANGAN/NOTES TO THE FINANCIAL STATEMENTS

TA ffiJN BERA KH lR 31 D ESEM BER 2008 D AN

PERIO DE SEM BILA N BU LA N B ERA KH IR 31 D ESEM BER 2007/YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007





e. Construction in progress. Aset dalam penyelesaian

Aset dalam penyelesaian dinyatakan sebesar harga

perolehan, Akurnulasi biaya tersebut akan direklasifikasi

ke dalam akun aset terap yang bersangkutan pada saatpernbangunan selesai dan aset tersebut siap untuk

digunakan, yaitu pada saat aset tersebut berada pada

lokasi dan kondisi yang diinginkan agar aset siap

digunakan sesuai dengan keinginan dan m aksud

manajemen.

f. Behan ditangguhkan - hak at as tanah

B eb an p en gu ru sa n le ga l h ak a ta s ta na h g un a m emp er ole h

a ta u m em pe rp an ja ng H ak G un a B an gu na n b erd as ar ka n

peraturan yang berlaku, dicatat sebagai beban

ditanggu hkan - hak alas tan ah dan d iam ortisasi selarna

m asa m anfaat H ak G un a B angunan yang b ersangku tan

( 30 t ah un ).

g. Pengakuan pendapatan

Pendapatan penjualan dibukukan berdasarkan

p en gir im a n b ar an g k ep ad a p em b eli, s es ua i d en ga n s ya ra t

penjualannya.

h. Penjabaran mata uang asing

P e rs er oa n m e ny eI en g ga ra ka n p em b u ku an d aI am Ru pi ah .

Transaksi daIam m ara uang asing d ijabarkan daIam

R upiah dengan ku rs tanggal transaksi. P ada tanggaln er ac a, a se t m on ete r d an k ew ajib an m on ete r d ala m m ata

u an g a sin g d ija ba rk an d ala m R up ia h d en ga n k ur s b er ik ut:

Rp 10.9001USD dan Rp 122/JPY pada tanggal

31 D esem bcr 20 08, R p 9.38 01U SD dan R p 83/JPY pada

ta ng ga I 3 1 D es em b er 2 00 7.

Laba (rugi) ku rs, yang telah m aupun yang beIum

d ir ea lis as i, d ik re ditk an ( dib eb an ka n) d ala m ia po ra n la ba

r ug i t ah un y an g b er sa ng k ut an .

Construction in progress is stated at cost. The

accumulated cost is reclassified to the related fixed

assets when the construction is completed andavailable for use, i.e. when it is in the location and

condition necessary for it to be capable of operating

in themanner intended by management.

f Deferred charges -la"d rights

Legal costs for land right related to the acquisition

or the extension of Hak Guna Bangunan (non-

ownership title with limited duration) in accordance

with the prevailing regulation, are recorded as

deferred charges - land rights, and amortized over

the usefulperiod of such right (30 years).

g. Recognition of revenue

Revenue from sales is recognized based on the

shipment of goods to buyers. in accordance with the

terms of sale.

h. Foreign currency translatlon

The Company maintains its accounting records in

Rupiah.

Transactions inforeign currencies are translated into

Rupiah using the rates prevailing at transaction date.A t balance sheet date. balances of monetary assets

and monetary liabilities in foreign currencies are

translated into Rupiah at following rates of

Rp JO,900IUSDand Rp 1221JPYas of 31 December

2008, Rp 9,3801USD and Rp 831JPY as of

31 December 2007.

Foreign exchange gains (losses), realized and

unrealized, are credited (charged) to the current

year's statement of income.





C ATA TAN A TA S LA PO RAN KEUANGAN/NOTES TO THE FINANCIAL STATEMENTS

TAH UN BERA KH IR 31 D ES EM BER 2008 D AN

P ERI OD E SEM BILA N BU LA N BERA KH IR 31 D ESEM BER 2007/





A CCOUNTING POLICIES (Continued)

i. Im ba la n p as ca -k er ja

K ew ajib an P erse ro an a ta s im bala n p as ea k erja d ih itu ng

sebesar nilai kini dati estirnasi jumlah kewajiban imbalan

pasea kerja dimasa depan yang timbul dari jasa yang

telah diberikan oleh karyaw an pad a m asa kin i dan m asa

lalu . P erhitung an dilakukan oleh aktuaris in dep end en

d en ga n m e to de p ro je cte d u nit c re dit.

A pa bila im b ala n a la s s ua tu p ro gr am b er ub ah , b ag ia n a ta s

kenaikan atau penurun an im balan sehu bungan d eng an

biaya jasa lalu karyaw an dibebankan atau dikred itkan

d ala m lap oran la ba ru gi b erd asa rk an m eto de garis I U T U S

selam a periode rata-rata hingga im ba!an pasea kerja

m e nj ad i h ak k ar yaw an (vested). I mb ala n p as ea k er ja y an g

te lah m en jad i h ak k ary aw an d ia ku i s eg era se ba gai b eb an

p ada s a at t er ja d in y a.

j. Pajak penghasilan

P er se ro an m e ne ra pk an m e t od e a se t d an k ew ajib an d ala m

m enghitung beban pajakn ya. B erdasarkan m etode ini,

aset dan kew ajiban pajak tangguhan at as perbedaan

tem porer dalam pencatatan aset dan kew ajiban untuk

tujuan akun tansi dan perpajakan diakui pada setiap

tanggal pelaporan. M etode ini juga m engharuskan

pengakuan m anfaat pajak untuk periode m endatang,

m isalnya rugi fiskat yang dap at d iko mp ensasi apabila

besar kemungkinan m anfaat pajak tersebut dapat

direalisasikan.

k. Penggunaan taksiran

P enyusunan taporan keuangan berdasarkan pnnsip

a ku nta ns i y an g b er la ku um um m e ng ha ru sk an m an aje m en

u ntu k m e rn bu at ta ks ir an d an a sum si y an g m emp en ga ru hi

jum lah aset dan kew ajiban yang ditaporkan, dan

pengungkapan aset dan kew ajiban kon tinjensi pada

tangga! laporan keuangan, dan jum lah pen dap atan d an

b eb an y an g d ila po rk an s ela ma p erio de p ela pa ra n. H as il

a kt ua l d ap at b er be da d ar i ta ks ir an te rs eb u t.

l: Post-employment benefits

The Company's obligation for post-employment

belleits is calculated at the present value ofestimated future benefits that the employees have

earned in returnfor their service in the current and

prior years. The calculation is performed by an

independent actuary using the projected unit credit

method.

Whenthe benefits of a plan change, the portion of the

increased or decreased benefit relating to past

service by employees is charged or credited to the

statement of income on a straight-line basis over the

average period until the benefits become vested. To

the extent that the benefits vest immediately, the

expense is recognized immediately in the statement of

income.

j. Income tax

The Company uses the asset and liability method of

accounting for income taxes. Under this method.

deferred tax assets and liabilities are recognized for

temporary differences between the financial and tax

basis of assets and liabilities at each reporting date.

This method also requires the recognition offuture

tax benefits. such as tax loss carryforwards, to the

extent that the realization of such benefits is

probable.

k: Useof estimates

Thepreparation offinancial statements in conformity

with generally accepted accounting principles

requires management to make estimates and

assumptions that affect the reported amounts of

assets and liabilities and disclosure of contingent

assets and liabilities at the date of the financial

statements and the reported amounts ofrevenues and

expenses during the reporting period. Actual resultscould differfrom those estimates.





C AT AT AN A TA S LA PO RAN K EU ANGANINOTE S TO THE F IN ANCIA L ST ATEMENT S

T A HU N BE RA KH IR 31 D ESEM BER 2008 D AN

P ER IO DE S EM BILA N BULAN B ER AKHIR 31 D ES EM BE R 20071






I. Labafrugi per saham I. Earnings/loss per share

Laba/rugi per saham dihitung dengan membagi labaJrugi

bersih dengan jumlah rata-rata tertimbang saham beredarlditempatkan dalam tahun yang bersangkutan.

Earnings/ losses per share are computed by dividing

net profit/loss by the weighted average number oftotal outstanding/issued shares during the year.

m. Segment in/ormation. Informasi segmen

Perseroan mengidentifikasikan hanya memiliki satu

segmen usaha yaitu tekstil,

The Company identifies only has one business

segment, which is textile.

3. TRANSAKSI HUBUNGAN ISTIMEW A 3. RELATED PARTY TRANSACTIONS

Ikhtisar transaksi dan saldo yang signifikan dengan pihak-pihak yang mempunyai hubungan istimewa (kelompok

usaha Toray dan Kanematsu, serta perusahaan afi liasi dari

pemegang saham lokal lainnya) adalah sebagai berikut:

Summary of signif icant transactions and balances with relatedparties (Toray and Kanematsu group, and an aff iliate company

from other local shareholders) is asfollows:

3 I Desemberl

31 December

2008

31 Desemberl

31 December

2007

Dalam Dalam

jutaan jutaan

Rupiah! Rupiah!

In millions In millions

of Rupiah % of Rupiah %

Penjualan (Catatan 15) 47.488 13 49.700 19 Sales (Note 15)Pembelian persediaan 123.840 51 90.088 63 Purchases of inventories

PembeJian aset tetap (Catatan 7) 12.986 47 10.354 33 Purchases offIXed assets (Note 7)

Komisi ekspor (Catatan 17dan 21b) 7.349 56 5.284 64 Export commissions (Notes 17 and 21b)

Jasa konsultasi dan pendukung lainnya Consultation and other supporting

(Catatan 18 dan 21c) 3.114 0,9 2.385 0,9 services (Notes 18and 21 c)

Saldo piutang usaha (Catatan 5) 7.426 15 12.865 21 Balance of trade receivables (Note 5)

Saldo hutang usaha (Catalan 9) 25.819 82 24.086 62 Balance of trade payables (Note 9)

Saldo beban masih harus dibayar 3.286 21 1.746 14 Balance of accrued expenses

Saldo kewajiban lancar lain-lain 1.553 44 Balance of other current liabilities

PT Century Textile Industry Tbk /6






PERIODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 20071YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007

4 . KASDANBANK 4. CASH ON HAND AND IN BANKS

Dalam jutaan Rupiah 2008 2007 In millions o(Rupiah

Kas 13 4 Cash on hand•••••••••••••••••• u••••••• '............... u•••••••••••••

Bank: Cash in banks:

Bank of Tokyo-Mttsubishi UFJ Ltd.,

Bank ofTokyo-Mitsubishi UFJ Ltd., Jakarta (including 2008:Jakarta (termasuk 2008: USD 368,148 and JPf 56,665,

USD 368.148 dan JPY 56.665, 2007: 2007: USD 424,903 and

USD 424.903 dan JPY 29.444) 4.033 4.203 JPY 29,444)

Bank Mandiri 903 2.278 Bank Mandiri

Bank Sumitomo Mitsui Indonesia Bank Sumitomo Mitsui Indonesia

(termasuk 2008: USD 120.849 dan (including 2008: USD 120,849

IPY 277.254,2007: USD 151.062 and JPf 277,254, 2007:dan lPY 149.481) 1.372 1.443 USD 151,062 andJPf [49,481)

Others (3 banks, includingLain-lain (3 bank, termasuk 2008: USD 163,605 and

2008: USD 163.605 dan JPY 32.328, JPf 32,328,2007: USD 49,539

2007: USD 49.539 dan JPY 11.020) 1.918 607 and JPf 11,020)

8.226 8.531..................... u•••, ••••u•••••••••••••••••• u.....

8.239 8.535

5. PIUTANG USAHA 5. TRADE RECEIVABLES

Dalam jutaan Rupiah 2008 2007 IIImillions of Rupiah

Piutang usaha pada pihak ketiga (termasuk

2008: USD 3.739.245,

2007: USD 5.273.612):

Trade receivables from third parties

(including 2008: USD 3,739,245,

2007: USD5,273,612):

Agha Establishments International Ltd.,

Cyprus

The Overseas Apparels, Bangladesh

Sidko Apparels Ltd., Bangladesh

The Chittagong Fashion Ltd., Bangladesh

PT Bengawan Solo Garment Indonesia

Productos Textile, S.A., Honduras

Tootal Fabrics (Holland) B.V., Belanda

Daewoo International Corporation,

Korea

Kingtex, Siria

Dipindahkan

1.569

1.289

Agha Establishments International Ltd. ,

4.051 Cyprus

1.236 The Overseas Apparels, Bangladesh

3.739 Sidko Apparels Ltd., Bangladesh

- The Chittagong Fashion Ltd., Bangladesh

598 PT Bengawan Solo Garment Indonesia

1 .670 Productos Textile, S.A., Honduras

75 2 Tootal Fabrics (Holland) B. V, Netherland

Daewoo International Corporation,

Korea

2.090 Kingtex, Syria-----

14.136 Carryforward

5.808

2.492

2.454

2.368

2.049

1.972

1.710

21.711





C AT AT AN A TA S LA PO RAN KEUANGANINOTES TO THE FINANCIAL STATEMENTS

TAH UNBERAKH IR31 D ESEM BER2008 D AN

P ER IO DE S EM BI LA N BULAN B ER AKHIR 31 D ES EM B ER 20071


5. PIUTANG USAHA (Lanjutan) 5. TRADE RECEIVABLES (Continued)

Dalam jutaan Rupiah [n millions o[Rupiah008 2007

21.711 14.136

1.262

1.224

937 2.258

585 2.380

373 2.293

258 4.374

14.797 24.154

41.147 49.595

Trade receivables from related parties:

PT Warga Djaja Trading Co. (including

9. 695 2007: USD 255,708)

Others (including 2008: USD 206,564,

3.170 2007: USD 337.940)7.426 ---1-2-.8-6-5

Pindahan

R .K . F ab ric s, I nd ia

Comertex, S.A., KolornbiaShirts Mine Ltd., Bangladesh

Lucky Impex Textile Co., Ltd., Thailand

Eve Dress Shirts Ltd., Bangladesh

Fashrobe Garments Ltd., Bangladesh

Lain-lain

Piutang usaha pada pihak yang mempunyai

hubungan istimewa:

PT Warga Djaja Trading Co. (termasuk

2007: USD 255.708)

Lain-lain (termasuk 2008: USD 206.564,

2007: USD 337.940)

5.175

2.251

48.573 62.460====

Jumlah piutang usaha rnenurut umur adalah

sebagai berikut:

Belumjatuh tempo

1 - 30 ha n

31 - 60 hari

61 - 90 hari

Lewat dari 90 had

36.622

9.387

860

798

906

48.573

Berdasarkan penelaahannya alas status masing-masing debitur

pada akhir tahun/periode, manajemen berpendapat bahwapenyisihan piutang ragu-ragu tidak diperlukan.

56.668

1.070

2.908

1.763

51

62.460

Carried forward

RK Fabrics, India

Comertex, S.A., Colombia

Shirts Mine Ltd., Bangladesh

Lucky Impex Textile Co., Ltd., Thailand

Eve Dress Shirts Ltd., Bangladesh

Fashrobe Garments Ltd., Bangladesh

Others

The aging of trade receivables is as

follows:

Not yet due

1- 30 days

31- 60 days

61 - 90 days

Over 90 days

Based on their evaluation of the status of each debtor at year/

period end, management believes that no allowance fordoubtful accounts is necessary.

PT Century Texti le Industry 10k 18




CATATAN ATAS LAPORAN K EU ANGANINOTE S T O THE F IN ANCIA L ST AT EM EN TS



YE AR E ND ED 31 D EC EM BE R 2008 AN D N IN E-M ON TH PE RIO D EN DED 31 DECEMBE R 2007

6. PERSEDIAAN 6. INVENTORIES

D alam ju taan R up iah 2008

Ba rang j ad i

B ara ng d ala m p en go lah an

B ah an b ak u

B ahan pem bantu dan keperluan pabrik

58.783

13.906

16.004

20.400

109.093

D ik uran gi p en yisih an p en uru nan n ilai

persediaan (1.774)

B ara ng d ala m p erja lan an

107.319

2.782

110.101

P erseroan telah m engasuransikan persediaan dengan nilai

pertanggungan sejum lah USD 8.S00.000 per 31 Desember

2008 terhadap resiko kebakaran dan kerusuhan. M anajemcn

berkeyakinan bahwa jum lah pertanggungan asuransi in i

memada i .

D alam ju taan R up iah 2008

M utasi p en yisih an p en uru nan n ilai

p crs ed ia an ad ala h s eb ag ai b erik ut:

S ald o aw al

Penambahan

Pcngurangan

S ald o a kh ir

2.S40

11.178

(11.944)

1.774

2007

47.731

15.048

11.20S

14.777

88.761

(2.540)

86.221

2.083

88.304

In mil lions of Rupiah

Finished goods

Work in process

Raw materials

Supplementary materials and factory supplies

Less allowance for decline in value

of inventory

Goods in transit

As of 3J December 2008, the Company has insured the

inventories for a total coverage amount of USD 8,500,000

against the risk of fire and riots. Management believes that

the total insurance coverage is adequate.

2007

4.452

7.077

(8.989)

2.S40

PT Century Textile Industry Tbk

In millions of Rupiah

Movement of allowance for decline in value

of inventory is asfollows:

Beginning balance

Addition

Deduction

Ending balance

19




CATATAN ATAS LAPORAN KEUANGAN/NOTES TO THE FINANCIAL STATEMENTS



YEAR ENDED 31 DECEMBER 2008 AND NiNE-MONTH PERIOD ENDED 31 DECEMBER 2007

7. ASET TETAP 7. FIXED ASSETS

Dalarn jutaan Rugiah 2 0 0 8 In millions o[_Ru{l_iah

Saldo awal/ Saldo akhirl

Beginning Penambahanl Penguranganl Reklasifikasi/ Ending

balance Additions Deductions Reclassification balance

HARGA PEROLEIIANf ACQUISITION COST/

DEEMED COST: DEEMED COST:Tanah 868 868 Land

Bangunan 26.697 2.711 29.408 Buildings

Mesin dan peralatan Plant machinery and

pabrik 334.078 (5.065) 40.594 369.607 equipment

Perkakas, perlengkapan Tools. furniture and

dan perabot 7.952 31 2.114 10.097 fixtures

Kendaraan berrnotor 6.786 (1.288) 518 6.016 Motor vehicles

376.381 31 (6.353) 45.937 415.996

Aset dalam Assets under

konstruksi 18.450 27.489 (45.937) 2 construction

394.831 27.520 (6.353) 415.998. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •••••••••••••• u•••••••••• . . . . . . . . . . . . . . ". . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . .

AKUMULASI ACCUMULATED

PENYUSUTAN: DEPRECIATION:

Bangunan (8.134) (571 ) (8.705) Buildings


pabr ik (153.488) (24.789) 4.323 (173.954) equipment

Pe r kak as , p e rl engk ap an Tools, furniture and

dan perabot (3.821 ) (803) (4.624) fixtures

Kendaraan berrnotor (6.309) (154) 1.288 (5.175) Motor vehicles

. . . . . . . .~L.?~.~~.. . . . . . . . . .~ ~ ; ~ . ~ n 5.61 I ......?~:.~.~.~1••n•••••••••••••••••• •••••••u,••,••••••u.......

NILAIBUKU 223.079 223.540 NET BOOK VALUE

Dalarn iutaan RUl2iah 2 0 0 7 In millions o[Ru{l.iah

Saldo awal/ Saldo akhirl

Beginning Penambahanl Penguran gan/ Reklasifikasi/ Ending

balance Additions Deductions Reclassification balanceHARGA PEROLEHANf ACQUISITION COST/

NlLAI REVALUASI REVALUATION VALUE

I JANUARI 1987: AT 1JANUARY 1987:

Tanah" 868 868 Land·

Bangunan 24.714 1.983 26.697 Buildings


pabrik 323.614 (4.297) 14.761 334.078 equipment

Perkakas, pcrlengkapan Tools. furniture and

dan perabot 6.806 6 (139) 1.279 7.952 fixtures

Kendaraan bermotor 6.325 461 6.786 Motor vehicles

362.327 6 (4.436) 18.484 376.381

Asetdalam Assets under

konstruksi 5.372 31.562 (18.484) 18.450 construction

367.699 31.568 .............~~:.~.~.~~. 394.831• H . U . . . . . . . . . . . . . . . . . . . . . . . . . . . . ••••••••••••••••••••••• u.... . . . . . . . . . . . . . . . . . . . . . . . .

P'I Century Textile Industry Tbk 20




C AT AT AN A TA S LA PO RAN K EU ANGANINOTE S TO THE F IN ANCIA L STA TEMENTS

T AH UN B ER AK HIR 31 D ES EM BER 2008 D AN

P ER IO DE S EM BILA N BULAN B ER AKHIR 31 D ES EM B ER 20071


7. ASET TETAP (Lanjutan) 7. FIXED ASSETS (Continued)

Dalam j u!aan Rupiah

Saldo awal1

Beginning

balance

2007 In mi/Uons of Rupiah

Penambahanl Pcnguranganf Reklasifikasi/

Additions Deductions Reclassification

Saldo akhirf

Ending

balance

AKUMULASI ACCUMULATED

PENYUSUTAN: DEPRECIATION:

Bangunan (7.764) (370) (8.134) Buildings

Mesin dan pera latan Plant machinery and

pabrik (139.638) (17.466) 3.616 (153.488) equipment

Perkakas, perlengkapan Tools.furniture and

dan perabot (3.419) (5[6) 114 (3.821) fixtures

Kendaraan bermotor (6.163) ([46) (6.309) Motor vehicles

,..,.J,I,~~:,?~~),, , , . . , , . ~ ! . ~ : ~ ? . ~ X 3.730 (171.752).......................... ............................. •••••• u•.••.• u••

NILAIBUKU 210.7[5 223.079 NET BOOK VALUE

• Merupakan nilai pasar wajar tanah tanggal 30 Nopember 1978

[Iihat Catatan 2d (i)l

Da lam i ut aa n R u pi ah 2008

P e ny us ut an d ib eb a nk a n p a da :B e ba n p ro d uk siB e ba n umum d an a dr ni ni st ra si(C ata ta n 1 8)

26.252

26.317

P erin cia n ta na h p er 3 1 D ese mb er 2 00 8 d an 2 00 7:

201.040 m2di J I. C ira ca s R t0 04 /0 1, C ira ca s, Ja ka rta

T im ur, HGB No. 61 berakhir pada tahun 2027 , dandapa t d ipe rbaha ru i.

9.890 m2

di J 1 . Ciracas Rt.004/01, C ir ac as , J ak a rt aT im ur, HOB No, 70 berakhir pada tahun 2028 , dandapa t d ipe rbaha ru i.

P erseroan telah m engasuransikan aset te tapnya (kecualita na h) d en ga n n ila i p erta ng gu ng an s eb es ar U SD 9 0,0 23 .0 20dan Rp 1.627 juta pe r 31 Desem ber 2008 terhadap resikokebakaran, kerusuhan dan kecelakaan, M anajem enberkeyak inan bahw a jum lah pertanggungan asu ransi in imemada i .

• Represents the fair market value of the land at 30 November 1978(see Note 2d(i)).

2007 In millions o(Rupiah

18.393Depreciation expense was charged to:

Production costs

General and administrative expenses

(Note /8)5 105

18.498

Details of land as of31 December 2008 and 2007:

201,040 sq.m, at n. Ciracas Rt,004/01, Ciracas, East

Jakarta, HGB No. 61 expiring in 2027 and can be

renewed upon expiration.

9,890 sq.m. at Jl. Ciracas Rt,004/0I, Ciracas, EastJakarta, HGB No. 70 expiring in 2028 and can be

renewed upon expiration.

As of 31 December 2008, the Company has insured its fixed

assets (except for land) with a total coverage amount of

USD 90,023,020 and Rp 1,627 million against the risk of

fire, riots and accidents, Management believes that the total

insurance coverage is adequate.

PT Century Textile Industry Tbk 2 1




C AT A T AN A T A S LA PO RAN KEUANGANINOTES TO THE FINANCIAL STA TEMENTS

TAHUN BERAKHIR 31 D ES Etvrn ER 2008 DAN

P ER IO DE SEMB ILA N BULAN B ER AKHIR 31 D ES EM BER 20071

YEAR ENDED 31 DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 3 J DECEMBER 2007

7. ASET TETAP (Lanjutan) 7. FIXED ASSETS (Continued)

Dalam tahun dan periode sernb ilan bu lan berakhir31 Desem ber 2008 dan 2007 P erseroan telah rnelakukanpenjualan aset tetap s e bag ai b c ri ku t:

D a lam j ut aa n R u pi ah

During the year and nine-month period ended 31 December

2008 and 2007, the Company sold certain fixed assets as

follows:

In millions o(Rupiah

2008 2007

55 4

590(706)

Net proceeds

Net book value of 'fixed assets sold

Gain (loss) on sale of fixed assets, net

Ha si l p en ju a la n b er si h

N ila i b uk u a se t te ta p y an g d iju al

L ab a (r ug i) p en ju ala n a se t te ta p, b cr sih

1.296(742)

(116)

8, HUTANG BANK JANGKA PENDEK 8, SHORT-TERM BANK LOANS

Da lam j ut aa n R u pia h 2008 2007 In millions o(Rupiah

B an k S um ito m o M its ui I nd on es ia , Ja ka rta ,f as il it as m o d al k er ja , f as il it as m a k sim um Balik Sumitomo Mitsui Indonesia, Jakarta,

2 00 8 d an 2 00 7: U SD 5 .0 00 .0 00 a ta u working capital credit facility, maximum

e kiv ale nn ya d ala m R up ia h.ja tu h te m po facility 2008 and 2007: USD 5,000,000 or

2 00 8: 2 7 Ja nu ari 2 00 9, 2 00 7: 2 9 P eb ru ar i its equivalent in Rupiah, due 2008:

2 00 8, ju mla h p ok ok p in ja ma n p er 27 January 2009, 2007: 29 February

3 1 D ese mb er 2 00 8 d an 2 00 7: 2008, balance outstanding at 31 December

USD 2 .500 .000 27.250 23.450 2008 and 2007: USD 2,500,000

T he B an k o fT ok yo -M i ts ub is hi U FJ , L td ., The Bank of Tokyo-Mltsubishi UFJ. Ltd.,

J ak a rt a, f as il it as mod a l k e rj a, f as il it as Jakarta, working capital credit facility,

m ak sim um 2 00 8 d an 2 00 7: maximum facility 2008 and 2007:

USD 1 0.0 00 .0 00 ,ja tu h te m po 2 00 8: USD 10,000,000, due 2008: between 22

a nta ra 2 2 Ja nu ari d an 6 P eb ru ari 2 00 9, January and 6 February 2009, 2007:

2 00 7: an ta ra 2 2 P cb ru ari d an 6 M ar et between 22 February and 6 March 2008.

2 00 8, ju mla h p ok ok p in ja ma n p er balance outstanding at 31 December 2008

3 1 D ese mb er 2 00 8 d an 2 00 7 m as in g- and 2007: USD 9,500,000 andm as in g s eb es ar U SD 9 .5 00 .0 00 d an USD 6,000,000, respectively

USD 6 .000 .000 103.550 56.280

B an k M i zu ho I nd on es ia , Ja ka rta , fa silita s . Bank Mizuho Indonesia, Jakarta, working

mo da l k er ja , fa silita s m a ks im um 2 00 8 a nd capital credit facility, maximum facility

2 00 7: U SD 1 0.0 00 .0 00 a ta u e kiv ale nn ya 2008 and 2007: USD 10,000,000 or its

d ala m J PY d an /a ta u R up ia h, ja tu h te m po equivalent in JPY and/or Rupiah, due

2 00 8: 1 5 Ja nu ari 2 00 9, 2 00 7: 2 9 P eb ru ari 2008: 15 January 2009, 2007:

2 008 , ju mlah po kok p injam an per 29 February 2008. balance outstanding at

3 1 D es em be r 2 00 8 d an 2 00 7 rn asin g- 31 December 2008 and 2007:

m as in g s eb esa r U SD 1 .0 00 .0 00 d an USD 1,000,000 and USD 3.000,000.

USD 3.000.000 10.900 28.140 respectively

Dipindahkan 141.700 107.870 Carry forward

P'I'Century Textile Industry Tbk 22




C AT A T AN A TA S LA PO RAN K EU ANGANINOTE S T O THE F IN ANCIA L ST AT EM EN TS

T A HU N BERA KH IR 31 D ESEM BER 2008 DA N

P ER IO DE S EM BI LA N BULAN B ER AKHIR 31 D ESE IvlB ER 2007 IYEAR ENDED 31 D EC EM BE R 2008 AN D N IN E-M ON TH PER IO D EN DE D 31 DECEMBE R 2007

8. HUTANG BANK JANGKA PENDEK (Lanjutan) 8. SHORT-TERM BANK LOANS (Continued)

Dalam jutaan Rupiah 2008 2007 In millions of Rupiah

Pindahan 141.700 107.870 Carried forward

Citibank, Jakarta, fasilitas modal kcrja, Citibank, Jakarta, working capital

fasi litas maksimum 2008 dan 2007: credit facil ity, maximum facil ity 2008 and

USD 5.000.000, jatuh tempo 2008: 2007: USD 5,000,000, due 2008:

27 Januari 2009,2007: 28 Januari 2008, 27 January 2009,2007: 28 January 2008,

jumlah pokok pinjaman per 31 Desember balance outstanding at 3 J December 2008

2008 dan 2007 masing-masing sebesar and 2007: USD 5,000,000 and

USD 5.000.000 dan USD 1.500.000 54.500 14.070 USD 1,500,000, respectively

196.200 121.940

Bunga sctahun untuk Annual interest rates 01 1 the

hutang di atas 2,880% - 6,375% 5,310% - 5,985% loans mentioned above

Perjanjian kredit yang dipcrolch Perscroan mencantumkan

beberapa persyaratan, an tara lain sehubungan dengankaraktcristik usaha Perscroan, susunan pemegang saharn, dan

beberapa pcrsyaratan administrasi.

Setclah tanggal neraca, Pcrseroan

memperoleh tambahan fasilitas dari Bank Sumitomo

Mitsui Indonesia (dad maksimum USD 5 juta menjadi

USD 10juta) di bulan Maret 2009.

menarik tambahan hutang pada Bank Sumitomo Mitsui

Indonesia sebesar USD 6 juta di bulan Maret 2009

(sehingga jumlah pokok pmJaman menjadi

USD 8.500.000 pada tanggal 20 Maret 2009).

melunasi semua hutang pada Bank Mizuho Indonesiadan Citibank dengan total berjumlah USD 6 juta di

bulan Maret 2009.

memperpanjang jangka waktu hutang pada Bank of

Tokyo-Mitsubishi UPJ dan Bank Sumitomo Mitsui

Indonesia sampai dengan 27 April 2009.

memperoleh surat jaminan (corporate guarantee) sebesar

USD 20 juta dari Toray Industries Inc., Jepang

(pemegang saham) untuk menjamin seluruh hutang bank

jangka pendek Perseroan. Surat jaminan tersebut valid

sampai dengan tanggal 30 September 2009.

The credit agreements obtained by the Company include

certain requirements, among others, matters related tocharacteristics of the Company's business, composition of

shareholders, and certain administrative requirements.

Subsequently, the Company has

obtained an additional facility from Bank Sumitomo

Mitsui Indonesia (from maximum USD 5 million to

USD 10 million) in March 2009.

With-drawn additional loan from Bank Sumitomo

Mitsui Indonesia of USD 6 million in March 2009 (as a

result, the outstanding balance was USD 8,500,000 at

20 March 2009).

Settled the loans from Bank Mizuho Indonesia andCitibank with the total amount of USD 6 million in

March 2009.

Extended the loans from Bank of Tokyo-Mitsubishi UFJ

and Bank Sumitomo Mitsui Indonesia through 27 April

2009.

Obtained corporate guarantee of USD 20 million from

Toray Industries Inc., Japan (the Company's

shareholder), to guarantee all the Company's short-

term bank loans. This corporate guarantee is valid until

30 September 2009.

PTCentury Texti le Industry Tbk 23




CATATAN ATA S LAPORAN KEUANGANINOTES TO THE FINANCIAL STATEMENTS

T AH UN BERA KH IR 31 D ESEM BER 2008 DA N

P ER lO DE SEMBILA N B ULAN B ER AKHIR 31 D ESEMBER 20071


9. HUTANG USAHA 9. TRADEPAYABLES

Hutang usaha merupakan kewajiban yang timbul at as

pembelian bahan baku dan bahan pembantu.

Trade payables represent liabilities incurred for the

purchases of raw materials and supplementary materials.

Dalam jutaan Rupiah 2008 2007 In millions of Rupiah

Hutang usaha pada pihak ketiga: Trade payables to third parties:

PT Grand Pintalan Textile Industries PT Grand Pintalan Textile Industries

(termasuk 2008: USD 11.069,2007: (including 2008: USD 11,069,2007:

USD 181.464) 161 1.872 USD 181,464)

Pihak ketiga lainnya (termasuk 2008: Other third parties (including

USD 263.771 dan JPY 219.156, Z007: 2008: USD 263, 77I and iPf 219,1 56,

USD 366.927 dan JPV 6.573.790) 5.583 12.694 2007: USD 366,927 and srr 6,573.790)

5.744 14.566............... u............ . . . . . . . . . . . . . . . . . . . . . . . .

Hutang usaha pada pihak yang mempunyaihubungan istimewa: Trade payables to related parties;

PT Wisnu Tjandra (terrnasuk 2008: PT Wisnu Tjandra (including

USD 1.978.102,2007: 2008: USD 1,978,102,

USD 2.141.553) 21.561 21.039 2007: USD 2,141,553)

Pihak yang mempunyai hubungan

istimewa lainnya (terrnasuk 2008: Other related parties (including

USD 372.996 dan JPV 1.581.990, 2008: USD 372,996 and

2007: USD 271.588 dan JPY 1,581,990, 2007:

JPY 2.846.980) 4.258 3.047 USD 271,588 and Jpy 2,846,980)

25.819 24.086• p . ~ • "1'" ••••• ,••••• n...........

31.563 38.652

lumlah hutang usaha menurut umur adalah The aging of trade payablessebagai berikut: is as follows:

Be1umjatuh tempo 31.147 27.228 Not yet due

1- 30 hari 380 9.540 1- 30 days

31 - 60 hari 36 1.595 31 - 60 days

61 - 90 hari 72 61 - 90 days

Lewa! dari 90 hari 217 Over 90 days

31.563 38.652

Fi Century Textile Industry Tbk 24




CATATAN ATAS LAPORAN K EU ANGANINOT ES T O THE F IN ANCIA L ST ATEMENTS




10. PAJAK PENGHASILAN 10. INCOME TAX

a . R ek on silia si a ntara ru gi ak un ta nsi s eb elu m p aja k d en ga nr ug i k en a p aja k a da la h s eb ag ai b er ik ut:

a. The reconciliation between accounting loss before tax and

taxable loss is as follows:

Da lam iu ta an R u pia h 2008 2007 In millions o[Rupiah

Ru gi a ku nt an si s eb elum p aj ak (77.703) (37.903) Accounting loss before tax

Pc rbed aan p e rman en : Permanent differences:

P e nd ap at an b un ga (57) (43) Interest incomeSewa ap ar temcn 1.904 1.377 Apartment rent

Kese ja h te r aa n k a ry awan 1.929 1.464 Employees' welfare

Rupa-rupa 2.987 2.290 Miscellaneous

J um l ah p er be da an p er rn an e n 6.763 5.088 Total permanent differences. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . .

Pe rbed aan t er n po r er : Temporary differences:

P e ny is ih an p en ur un an n il ai Allowance for decline in value ofpersediaan (767) (1.912) inventory

P e ny us ut an a se t t et ap 3.818 2.768 Depreciation of'fixed assetsImba lan pasca-ke rja (437) (1.414) Post-employment benefitsPenghasi lan d i tangguhkan 616 1.044 Deferred income

J um l ah p er be da an tem po re r 3.230 486 Total temporary differences. . . . . . . . . . . . . . . . . . . . . , . . . . . . . . .......................

R ug i k en a p aja k (67.710) (32.329) Taxable loss

Da lam j uta an R u pi ah 2008 2007

Ru gi a ku nt an si s eb elu rn p aj ak (77.703) (37.903)T ar ip p aja k m a ks ir num y an g b er la ku 30% 30%

(23.3[1) ([ 1.37 [)

P e rb ed aa n p er rn an en d ik al ik an d en ga n t ar ippajak 30% 2.029 1.526

P e ru ba ha n p en yi si ha n p en ur un an n il ai 27 . 7 6 0 9.699E fe k d ar i p er ub ah an ta rip p aja k 7.492

K or ek si te rh ad ap s ald o ra hu n la lu 43Beb an ( pe ng ha si la n) p aj ak 13.970 (103)

Rugi ken a pajak peri ode sembilan bulan berakhir3 1 D e sem be r 2007 te lah sesuai dengan SP T TahunanP a ja k P e ng ha si1 an p er io de y an g b er sa ng ku ta n.

b . P e rh itu ng an b eb an d an p aja k d ib ay ar d im u ka /h uta ng p aja kk in i a da la h s eb ag ai b er ik ut:

D a lam j uta an R u pi ah 2008

B eb an p aja k k in iP a ja k d ib ay ar d im u ka

P a ja k d ib ay ar d ir nu ka a kh ir t ah un /p er io d e

(1.515)

(1.515)

c. R ek on silia si a ntara ru gi a ku nta ns i se belu rn p aja k d en ganb eb an ( pe ng h as il an ) p aja k a da la h s eb ag ai b er ik ut:

The amounts of taxable loss for the nine-month period ended

31 December 2007 agree with the amounts reported in the

related annual Corporate Income Tax return.

b. The calculation of the current income tax expense and

prepaid tax/tax payable is as follows:

2007 In millions o[Rupiah

(2.500)

(2.500)

Current income tax expense

Prepaid taxes

Prepaid taxes at year/period end

c. The reconciliation between accounting loss before tax and

income tax expense (benefit) is asfollows:


Accounting loss before tax

Enacted maximum marginal tax rate

Permanent dif ferences at 30 percent

tax rate

Changes in valuation allowance

Effect in changes in tax rate

Adjustment to prior year's balanceIncome tax expense (benefit)





C AT AT AN A TA S LA PO RAN KEUANGANINOTES TO THE F lNANC1AL ST AT EMENTS

T AH UN BE RA KH IR 31 D ESEM BER 2008 D AN

P ER IO DE SE MB ILA N B ULA N B ER AK HIR 31 D ES EM BER 2007/

YEAR ENDED 3J D EC EM BER 2008 AN D N INE-M ON TH PERIO D EN DED 31 D ECEMBER 2007

1 0. P AJ AK P EN G HA SIL AN (L an ju ta n) 10. INCOME TAX (Continued)

d. Kom ponen beban (penghasilan ) pajak adalah scbagai

berikut:

d. The components oj income tax expense (benefit) ate as

follows:

Da lam j ul aa n R u pi ah 2008 2007 In millions of Rupiah

P a ja k k in i Current tax

Pa ja k t an gguh an 13.970 (103) DeJerred tax

Jum lah b eban ( penghasilan ) pajak 13.970 (103) Total income tax expense (benefit)

443 7623.124 3.879

5 .993 6.047

41 5 31 3

27.484 12.668

37.459 23.669

(37.459) (9.699)

13.970

e. K om ponen aset pajak tangguhan per 31 D escm ber 2008

d an 2 00 7, a da la h s eb ag ai b cr ik ut:

D ala m M a an R up ia h 2008

A s et p aj ak t an g gu h an :

P c ny is ih an p en u ru na n n il ai

pcrsediaanKcwa ji ba n imbal an p a sc a -k e rj a

P e ny us ut an a se t t et ap

P end ap a ta n d it an gguhk an

R u gi f is ka l y an g d ap at d ik om pe ns as i

J ur nl ah a se t p aj ak t an gg u ha n, k o to r

D ik u ra ng i p c ny is ih an p en u ru na n n il ai

A s et p aj ak t an gg u ha n, b er si h

P ad a ta ng ga l 3 1 D ese mb er 2 00 8, P ers ero an m em ilik i ru gi

fiskal yang d ap at diko mpcnsasikan sebesar R p 10 9.93 6

juta yang akan kadaluarsa di 20 11 - 20 13. R calisasi dari

aset pajak tang guh an tergan tu ng p ad a laba fiskal yan g

d ap at d ih asilk an p ad a p erio de m en da ta ng . R ea lisa si a ta srug i fiskal yang dapat d ikom pensasi dan perbedaan

te mp ore r la in nya tid ak d ap at d ip astik an ; o le h k are n a itu

P erseroan telah m encatat penyisihan penurunan nila i

untuk taksiran jum lah aset pajak tangguhan yang

mu n gk in t id ak d ap at d ir ea li sa si .

f. Pada bulan Septem ber 2008, undang-undang pajak fp en ghasilan diub ah, dim ana efcktif lanuari 20 09, tarip

p aja k p en gh as ila n p ro gr es ip y an g b er la ku d ig an ti d en ga n

tarip tunggal 28% di tahun 2009 dan 25% m ulai tahun

2 01 0. P en ga ru h p er ub ah an ta rip p aja k m cn uru t u nd an g-

u nd an g te rs e b ut te la h d ip er hitu ng ka n d ala m p en ila ia n a se t

dan kew ajiban pajak tangguhan pada tanggal

3 1 D es em b er 2 00 8.

e. The components oj the deJerred tax assets as oj

31 December 2008 and 2007 are asfol lows:

2007 In millions of Rupiah

DeJerred tax assets:

Allowance Jor decline in value oj

inventoryPOSI- employment benefits obligation

Depreciation ojfIXed assets

Deferred income

Tax loss carry forwards

Deferred tax assets, total

Less valuation allowance

Deferred tax assets, net

At 31 December 2008, the Company had tax loss

carryforward oj Rp 109,936 million which will expire in

2011 - 2013. Realization oj the Company's deferred tax

assets is dependent upon the availability oJJuture taxable

income. Realization of lax loss carryforward and othertemporary differences are not assured; therefore, the

Company has recorded a valuation allowance to reflect

the estimated amount oj deJerred tax assets which may

not be realized.

In September 2008, tire income lax law was amended,

whereby effective January 2009, the existing graduated

corporate income tax rates were replaced with a single

rate oJ28 percent for 2009 and 25 percent Jar 2010 and

thereafter. The effect of the enactment oj the new

statutory tax rate has been accounted Jor in the

valuation oj deferred tax assets and liabilities as oj

31 December 2008.

P'[ Century Textile Industry Tbk 26





TAHUN BERAKHIR 31 DESEMBER 2008 DANPERlODE SEMBILAN BULAN BERAKHIR 31 DESEMBER 2007/

YEAR ENDED 31DECEMBER 2008 AND NINE-MONTH PERIOD ENDED 31 DECEMBER 2007

10. PAJAK PENGHASILAN (Lanjutan) 10. INCOME TAX (Continued)

g. Sesuai peraturan perpajakan di Indonesia, Perseroan

melaporkan/mcnyetorkan pajak-pajaknya berdasarkan

sistem self-assessment, Fiskus dapat menetapkanlmengubah

pajak-pajak tersebut sebelum waktu kadaluarsa, sesuai

dengan peraturan yang berlaku.

g. Under the taxation laws of Indonesia, the Company

submits tax returns on the basis of self-assessment. The

tax authorities may assess or amend taxes within the

statute of limitations, under prevailing regulations.

11. HUTANG BANK JANGKA PANJANG

Dalam jutaan Rupiah 2008 2007

The Bank of Tokyo-Mitsubishi UFJ, Ltd.,

Jakarta, fasilitas investasi, fasilitas

maksirnum USD 5.000.000, jatuh tempo

29 Maret 2014, jarninan: surat jaminan

dari Toray Industries Inc., Jepang

(pemegang saham) sebesar

usn 5.000.000, jumlah pokok pinjaman

per 31 Desember 2008 dan 2007:

usn 5.000.000 54.500 46.900

Bank Sumitomo Mitsui Indonesia, Jakarta,

fasilitas pembelian barang modal,

fasilitas maksimum USD 5.000,000,

jatuh tempo 30 April 2014, jaminan:

suratjaminan dari Toray Industries Inc.,

Jcpang (pemegang saham) sebesar

usn 5.000.000,jumlah pokok pinjamanper 31 Desernber 2008 dan 2007:

usn 5.000.000 54.500 46.900

The Sumitomo Trust and Banking

Company, Ltd., Singapura, fasilitas

general corporate purpose, fasilitas

maksirnum usn 5.000.000, jatuh tempo

31 Maret 2014, jaminan: sural jarninan

dari Toray Industries Inc., Jepang

(pemegang saham) sebesar

usn 5.000.000, jumlah pokok pinjaman

per 31 Desember 2008 dan 2007:

usn 5.000.000 54.500 46.900

163.500 140.700

P'[ Century Textile Industry Tbk

11. LONG-TERM BANK LOANS


The Bank of Tokyo-Mit sub ishi UFJ, Ltd.,

Jakarta, investment facility, maximum

facility ofUSD 5,000,000, due on

29 March 2014, secured by a letter of

guarantee from Toray Industries Inc.,

Japan (shareholder) in the amount of

USD 5,000,000, balance outstanding at

31 December 2008 and 2007:

USD 5,000,000

Bank Sumitomo Mitsui Indonesia,

Jakarta, capital expenditure facility,

maximum facil ity of USD 5,000,000, due

on 30 April 2014, secured by a letter of

guarantee from Toray Industries Inc. ,


USD 5,000,000, balance outstanding at31 December 2008 and 2007:

USD 5,000,000

The Sumitomo Trust and Banking

Company, Ltd., Singapore, general

corporate purpose facility, maximum

facility ofUSD 5,000,000, due on

31 March 2014, secured by a letter of

guarantee from Toray Industries Inc. ,


USD 5,000,000, balance outstanding at

31 December 2008 and 2007:

USD 5,000,000

27




C AT AT AN A TA S LA PO RAN K EU ANGAN/NOT ES T O THE F IN ANCIA L ST ATEMENTS

TA HU N B ERA KH IR 31 D ESEM BER 2008 D ANP ER IO DE SEM BILA N BU LA N B ER AK HIR 31 D ESEM BER 2007/


11. HUTANG BANK JANGKA PANJANG (Lanjutan) 11. LONG-TERM BANK LOANS (Continued)

2008

Bunga setahun untuk

hutang di atas 2,83 00% - 5,3425 %

Perjanjian kred it yang diperoleh Perseroan m cncantum kan

beberapa persyaratan, antara lain sehubungan dengan

karakteristik P erseroan, susunan pernegang saharn , dan

b eb er ap a p er sy ar at an a dr ni ni st ra si ,

2007

5,3413% - 5,5297%

Annual interest rates on the

loans mentioned above

The credit agreements obtained by the Company include

certain requirements, among others, matters related to

characteristics of the Company's business, composition of

shareholders, and certain administrative requirements.

12, MODAL SAHAM 12. SHARE CAPITAL

Per 31 Desember 2008 da n 2007, m odal dasar P erseroan

ber jum lah Rp 10.000 juta, yang terdiri dari 6.500.000 saham

ser i B (saham biasa) dan 3.500.000 saham ser i A (14,5%

non-kum ulatip par tisipa si laba ), m asin g-rnasin g d enga n n ilainominal Rp 1.000 pe r saham, t e1 ah d it em p at ka n s elu ru hn ya

dan dise tor penuh o leh para pem egang saham beriku t:

As of 31 December 2008 and 2007, the authorized share

capital of the Company amounted to Rp 10,000 million,

consisting of 6,500,000 series B shares (common stock) and

3,500,000 series A shares (14.5 percent non-cumulativeparticipating) at par value of Rp 1,000 per share, fully

issued to and paid-up by the following shareholders:

Jurnlah

nominal

(dalam

jutaanJ um la h s ah am / Rupiahj/

Number of shares Par value

Seri AI Seri BI (in millionsP em eg ang sah am Series A Series B of Rupiah) % Shareholders

Toray I nd us trie s In c., Jepang 200.000 2.792.990 2.993 30 Toray Industries Inc., Japan

Kanernatsu C orp ora tio n, Je pa ng 2.296.250 2.296 23 Kanematsu Corporation, Japan

Tokai S enko K .K ., Jcpang 326.000 326 3 Tokai Senko K.K., Japan

K urab o Ind ustr ie s Ltd., Jepa ng 84.760 85 I Kurabo Industries Ltd., Japan

PT Budiman Kencana Lestari 165.500 1.000.000 1.165 12 PT Budiman Kencana Lestari

P T P rospect M otor 1.197.050 1.197 12 PT Prospect Motor

PT Ea st er nt ex 1.014.900 1.015 10 PT Easterntex

M as ya ra ka t la in ny a 922.550 923 9 Other (public) shareholders

3.500.000 6.500.000 10.000 100

Seluruh saham P erseroan yang beredar/ditempatkan telah

dicatatkan di Bursa Efek I nd on es ia (C ata la n Ib) .

Berdasarkan Anggaran Dasar P erseroan, saham -saham sed A

yang te lah diterbitkan tidak akan d iubah m enjad i saham -

saham ser i B .

All of the Company's outstanding/issued shares have been

listed 011 the Indonesia Stock Exchanges (Note J b).

In accordance with the Company's Articles of Association, the

outstanding series A shares shall not be converted into seriesB shares in the future.





C AT AT AN A TA S LAPORANKEUANGAN/NOTES TO THE FINANCIAL STATEMENTS

T AH UN B ER AK HIR 31 D ESEM BER 2008 D ANP ERIO DE SEM BILA N B ULA N B ERA KH IR 31 D ESEM BER 2007/


13. TAMBAHAN MODAL DISETOR 13. CAPITAL PAID IN EXCESS OF PAR

Merupakan selisih antara harga penawaran saham Rp 5.500

per saham dengan nilai nominal Rp 5.000 per saham dari

116.000 saham yang dijual dalam masa penawaran perdana

pada bulan Mei 1979 [lihat Catatan Ib (i)].

Represents the premium as a result of the difference between

the offeringprice of Rp 5,500 and par value of Rp 5, 000 per

share from 116,000 shares sold during the initial public

offeringperiod of May 1979 [seeNote lb (i)].

14. SELISIH PENILAIAN KEMBALI

ASETTETAP

14. REVALUATION INCREMENT

Merupakan selisih penilaian kembali aset tetap per 1 Januari

1987 atas aset tetap yang diperoleh sampai dengan

12 September 1986, sesuai dengan Peraturan Pernerintah

No. 4511986, dan persetujuan Inspeksi Pajak No. KEP-

003fWP J.I OIKI-1212/89 tanggal 7 Januari 1989:

Dalam jutaan Rupiah

Nilai baru 1 Januari 1987

Nilai buku fiskal 1 Januari 1987

Represents the revaluation increment as of 1 January 1987 of

fixed assets acquired through 12 September 1986 in

accordance with Government Regulation No. 45/1986, and

Tax Inspection approval No. KEP-003/WPJ.10/Kl-1212/89

on 7 January 1989:


21.619

(7.168)

New value 1January J 987

Book value income tax basis 1January J 987

14.451

Pada tahun 2008, Perseroan menerapkan PSAK No. 16

(revisi 2007) "Aset Tetap", dan mereklasifikasi seluruh saldo

selisih penilaian kembali aset tetap tersebut ke saldo laba

[Catatan 2d (iii)].

In 2008, the Company implemented SFAS No. 16 (revised

2007) "FixedAssets" and reclassified the remaining balance

of the revaluation increment to retained earnings [Note 2d

(iii)].

15. PENJUALAN 15. SALES

Dalam iutaan RUIliah 2008 2007 In millions o(Rupiah

Merupakan penjualan bersih (setelah Represent net sales (after deduction of salesdikurangi retur penjualan): return);Pihak ketiga 322.166 2 [8.482 ThirdpartiesPihak yang mempunyai hubungan

istimewa 47.488 49.700 Relatedparties

369.654 268.182

PT Century TextileIndustry Tbk 2 9




C AT AT AN A TA S LA PO RAN KEUANGAN/NOTES TO THE FINANCIAL STATEMENTS

TA HU N B ER AK HIR 31 D ES EM BER 2008 D ANP ER I OD E S EM BILA N B ULA N B ERA KH IR 31 D ES EM BER 2007/


16. BEBAN POKOK PENJUALAN 16. COST OFSALES

Dalam jutaan Rup iah 2008 2007 In millions of Rupiah

Pem akaian bahan baku 159.944 141.375 Raw materials used

Upah l an g sung 27.034 19.472 Labor cost

Be ba n p ro d uk si t ak l an gs un g 163.651 102.849 Indirect production costs

J um l ah b eb an p ro d uk si 350.629 263.696 Total production costs

Persediaan a wa l b ar an g d ala m pengolahan 15.048 16.580 Beginning balance a/work in process

P e rs ed ia an a kh ir b ar an g dalarn pengolahan (13.906) (15 .048) Ending balance of work in process

Beban pokok produksi 351.771 265.228 Cost of goods manufactured

Persediaan awa l ba rang jadi 47.731 35.294 Beginning balance offinished goods

P ersediaan akhir barang jadi (58,783) (47.731) Ending balance offinished goods

Be ba n p o ko k p en ju al an 340.719 252.791 Cost of sales

Rincian pernasok d en ga n ju m la h n ila i pembelian b ah an b ak u

yang m elebihi 10% dad to tal pem belian bersih ada1ahs ebag ai b e ri ku t:

The details of suppliers from whom the purchase of raw

materials amounted to more than 10 percent of the total net

purchases are as follows:

Da lam ju ta an R u pi ah 2008 2007 In mil lions of Rupiah

P T W is nu T ja nd ra

PT Ea st em t exPT I nd o ne si a T o ra y S yn th et ic s

77.988 36.84525.389

21.205

PT Wisnu Tjandra

PT EasterntexPT Indonesia Toray Synthetics1.792

17. BEBAN PENJUALAN 17. SELLING EXPENSES

Da lam iu ta an R u pi ah 2008 2007 In millions o{_Rupiah

Beban ekspo r 15,585 14.165 Export charges

Ko rn is i e k sp o r 13,177 8.201 Export commissions

I kla n d an b ar an g c on to h 715 551 Advertising and samples

Kl aim penj ua la n 504 576 Sales claims

29,981 23.493

PT Cen tu ry Textile Industry Tbk 30








18. BEBAN UMUM DAN ADMINISTRASI 18. G EN ERAL AND ADM IN IS TRA T IV E EXP EN SE S

Dalam jutaan Rupiah 2008

G aji d an b on us (te rm a su k p aja kpenghasi lan karyawan)

J as a p rof es io n al , k e pe rl ua n k ant or ,

k om u nik as i d an s ew aPerjalanan dinas , r epara si dan pemel iha raanKe se ja h te ra a n k a ry awanP e ny us ut an a se t te ta pLainnya

7.771

5.8681.50830 765

1.261

16.780

2007 In millions o(Rupiah

4.810

3.71290 726 5105

75 8

Salaries and bonus (includingemployees' income tax)

Professionalfees, office supplies,

communication and rentalTravelling, repairs and maintenance

Employees' welfareDepreciation of'fixed assets

Others

10.557

19. RUGI PER SAHAM 19. LOSS PER SHARE

Rugi per saham dihitung dengan m embagi rugi bersihdengan jum lah rata-rata tertim bang saham beredar dalamt ah un /p er io de y an g b er sa ng ku ta n, s eb ag ai b er ik ut:

Losses per share were calculated by dividing net loss by theweighted average number of outstanding shares during theyear/period asfollows:

Da lam j ut aa n R u pi ah 2008 2007 In millions o[Rupiah

Rugi bersih (91.673) (37.800) Net loss

1umla h r ata -r ata te rtim b an g s ah ar n s ed A Weightedaverage outstanding series Ayang beredar (dalam ribuan s aharn) 3.500 3.500 shares (in thousands of share)

J ur nl ah r at a- ra ta te rt im b an g s ah am s er i B Weighted average outstanding series By an g b er ed ar ( da 1am r ib ua n s ah am ) 6.500 6.500 shares (in thousands of share)

J um la h s ah am 10.000 10.000 Total shares

R ug i b er sih p er s ah am d as ar (d ala m Primary net lossper share (in wholeRupiah penuh) (9.167) (3.780) Rupiah)

S esu ai d en gan p as al 2 4 d ari A ng gara n D as am ya , p em eg an g

saham seri A berhak m enerima dividen secara non-

kum ulatip partisipasi laba sekuran g-kurangnya sebesar

1 4,5% d ar i h ar ga n om in al s ah am s er i A , s ela m a k eu ntu ng an

b ersih P ers ero an yan g d isa jik an d alam lap oran k eu an ga n

c uk up u ntu k m em ba ya r d ivid en ters eb ut. P em eg an g s ah am

seri B akan m enerirna dividen dalam jum lah yang sam a,

s ete la h h ak m in im um p em e ga ng s ah am s er i A te rp en uh i,

In accordance with article 24 of its Articles of Association,

tire series A shareholders have the privilege to receive at

least 14.5 percent non-cumulative participating dividend

from its nominal value if the Company's profit, as stated in

the financial statements, could cover such dividend. The

series B shareholders will receive the same dividend after

the:seriesA shareholders receive their minimum dividend.




P T C E N T U R Y T E X T IL E IN D UST R Y T bk

C AT AT AN A TA S LA PO RAN K EUANGANIN OT ES TO THE F IN AN CIA L S TA TEMENT S

TA HU N B ERAK HIR 31 D ESEM BER 2008 D ANP ER lO DE S EM BILA N BULAN B ER AKHIR 31 D ES EM BER 20071

YEAR ENDED 31 D ECEMB ER 2008 A ND N INE -M ON TH P ER IO D EN DE D 31 D ECEMBE R 2007

20. INFORMASI SEGMEN 20. SEGMENT INFORMATION

Perseroan hanya memiliki satu segmen usaha yaitu teksti!.

Penjualan Perseroan berdasarkan wilayah geografis adalah

sebagai berikut:

The Company only has one business segment, which is textile.

The Company's sales based on geographic areas are as

follows:

Dalam iutaan Rupiah 2008 2007 In millions of Rupiah

Lokal 67.655 52.711 DomesticAsia 192.219 168.302 AsiaEropa 66.312 26.703 EuropeAmerika 3.715 878 AmericaNegara lainnya 39.753 19.588 Other countries

369.654 268.182

21. lKATAN-lKATAN 21. COMMITMENTS

Dalam tahun dan periode sembilan bulan yang berakhir pada

tanggal 31 Desember 2008 dan 2007 Perseroan memiliki

perjanjian-perjanjian sebagai berikut:

a. Tokai Senko K.K., Jepang untuk penyediaan informasi

dan teknologi (kllow-how) kepada bagian pencelupan

Perseroan, dimana Perseroan harus membayar imbalan

bantuan teknik sebesar USD 0,003/yard untuk kain

yang diproduksi (termasuk pekerjaan pengupahan

pencelupan dan pengerjaan akhir) kecuali seluruh kain

jadi grade C. Perjanjian ini diperbaharui setiap tahun.

Beban imbalan jasa bantuan teknik untuk tahun dan

peri ode sembilan bulan yang berakhir tanggal

31 Desember 2008 dan 2007 masing-masing berjumlahUSD 145.574 dan USD 116.668.

b. Kanematsu Group, Jepang (pihak yang memiliki

hubungan istimewa) untuk jasa promosi dan penjualan

produk Perseroan ke luar negeri seperti benang tenun

dan kain jadi yang dihasilkan dan/atau diproses melalui

jaringan organisasi Kanematsu Group, Jepang diseluruh dunia. Atas jasa ini Perseroan hams membayar

komisi sebesar 3% - 7% dari nilai faktur penjualanekspor, Perjanjian ini tetap berlaku kecuali salah satupihak mengakhiri perjanjian ini . Behan kornisi eksporuntuk tahun dan periode sembilan bulan yang berakhir

tanggal 31 Desember 2008 dan 2007 masing-masing

berjumlah USD 763.965 dan USD 579.257.

During the year and nine-month period ended 31 December2008 and 2007 the Company entered into the followingagreements:

a. Tokai Senko K.K, Japan to provide technicalinformation and know-how to the Company's dyeingdepartment, whereby the Company has to pay technicalassistance fee of USD 0.003/yard of fabric produced(including commission dyeing and finishing), except allfinished C grade fabrics. This agreement is amendedeveryyear. The technical assistancefee for the year andnine-month period ended 31 December 2008 and 2007

was USD 145,574 and USD 116,668, respectively.

b. Kanematsu Group, Japan (a related party) to promoteand sell the Company's products to overseas countries,such as yarn and fabrics produced and/or processedthrough Kanematsu Group, Japan's worldwideorganization and network. For this right, the Companyhas to pay a commission of 3 percent - 7 percent fromexport invoice value. This agreement is valid unlesseither party terminates this agreement. The exportcommissionfor the year and nine-month period ended31 December 2008 and 2007 was USD 763,965 andUSD 579,257, respectively.





CATATAN ATAS LAPORANKEUANGAN/NOTES TO THE FINANCIAL STATEMENTS




21. IKA TAN-IKA TAN (Lanjutan) 21. COMMITMENTS (Continued)

c. PT Toray Industries Indonesia (pihak yang memiliki

hubungan istimewa) untuk jasa konsultasi dan jasa

pendukung lainnya. Perjanjian ini diperbaharui setiap

tahun. Atas jasa ini Perseroan harus membayar imbalan

jasa masing-masing sebesar Rp 3.114 juta dan

Rp 2.385 juta untuk tahun dan periode sembi Ian bulan

yang berakhir tanggal 31 Desember 2008 dan 2007.

Beban ini diklasifikasikan sebagai beban produksi dan

beban umum dan administrasi.

Beban jasa bantuan teknik diklasifikasikan sebagai beban

produksi , sedangkan beban komisi ekspor diklasifikasikan

sebagai beban penjualan.

c. PT Toray Industries Indonesia (a related party) 10

provide consultation and other supporting services.

This agreement is amended every year. For these

services, the Company has to pay a service fee

amounting toRp 3,114 million and Rp 2.385 millionfor

the year and nine-month period ended 31 December

2008 and 2007. respectively. This service fee was

classified as production costs and general and

administrative expenses.

The technical assistance fee was classified as production

costs and export commission was classified as selling

expenses.

22. ASET DAN KEW AJIBAN DALAMMATA UANG ASING

22. ASSETS AND LIABILITIES DENOMINATEDIN FOREIGN CURRENCIES

Aset dan kewajiban dalam mata uang asing, ekuivalen dalam

USD dan dalarnjutaan Rupiah, adalah sebagai berikut:

Assets and liabilities denominated in foreign currencies

equivalent in USDand in millions of Rupiah, are asfollows:

2008

Dalamjutaan Rpl

USD In millions of Rp

Aset:

Kas dan bank

Piutang usaha

Aset lancar lain-lain

656.673

3.945.809

155.704

7.158

43.009

1.697

Assets:

Cash on hand and in banks

Trade receivables

Other current assets

4.758.186 51.864

Kewajiban:

Hutang bank jangka pendek

Hutang usaha

Beban masih harus dibayar

Hutang bank jangka panjang

18.000.000

2.645.906

1.155.631

15.000.000

196.200

28.840

12.596

163.500

Liabilities:Short-term bank loa/IS

Tradepayables

Accrued expenses

Long-term bank loans

32.043.351

36.801.537 401.136

349.272Excess of liabilities over assets

denominated inforeign currencies

Kewajiban rnelebihi aset dalam

mata uang asing





C AT A T AN A T A S LA PO RAN KEUANGANINOTES TO THE FINANCIAL STATEMENTS

TA HU N B ER AK HIR 31 D ESEM BER 2008 D AN

P ER lO DE SE MB ILA N BU LA N B ER AK HIR 31 D ESEM BER 2007/


23. KELANGSUNGAN nmur 23. GOING CONCERN

Perseroan mempunyai defisit modal kerja sebesar

Rp 51.347 juta per tanggal 31 Desember 2008, Sebagai

tanggapan atas rnasalah likuiditas ini, Perseroan telah

mendapatkan surat bantuan keuangan (financial support

letter) dari Toray Industries Inc" Jepang, pernegang sahamPerseroan, yang rnenyatakan bahwa Toray Industries Inc"

Jepang akan terus memberikan bantuan keuangan yang

diperlukan oleh Perseroan untuk memenuhi kewajiban-

kewajibannya pada saat jatuh tempo, dan memberikan

bantuan keuangan yang diperlukan oleh Perseroan untuk

melanjutkan usahanya dan bantuan tersebut tidak akan

ditarik paling tidak untuk dua belas bulan kedepan efektip

dari tanggal 31 Desernber 2008.

Perseroan juga memperoleh surat jaminan (corporate

guarantee) dan Toray Industries Inc" Jepang (lihat Catatan 8),

The Company had a working capital deficit of

Rp 51,347 million as of 31 December 2008, In response to

this liquidity issue, the Company has obtained a financial

support letter from Toray Industries Inc" Japan, the

Company's shareholder, confirming that Toray IndustriesInc., Japan will continue to provide financial support

necessary to enable the Company to meet its debts as and

when they fall due, and make necessary funding for the

Company to carry on its business and this support will not

be withdrawnfor at least the next twelve months with effect

from 31December 2008.

The Company has also obtained a corporate guarantee

letterfrom TorayIndustries Inc., Japan (see Note 8).

24. INFORMASI LAINNY A 24. OTHER INFORMATION

Rapat Umum Luar Biasa Pemegang Saham Perseroan

tanggal 4 Agustus 2008 (risalah dibuat oleh notaris publik

Haji Syarif Siangan Tanudjaja SH, dengan akte No.2)

memutuskan untuk mengubah mata uang pelaporan

Perseroan dari Rupiah rnenjadi US Dollar mulai tahun buku

2009.

Perseroan juga telah mendapat persetujuan dari Menteri

KeuanganlDirektorat Jenderal Pajak No. KEP-

1575 fWPJ .07 IBD.04 / 2008 tanggal 11 Desember 2008untuk menyelenggarakan pembukuan dalam US Dollar

mulai tahun buku 2009,

The Extraordinary General Shareholders' Meeting of the

Company on 4 August 2008 (minutes prepared by notary

public Haji Syarif Siangan Tanudjaja SH. by deed No.2)

resolved to change the Company's reporting currency from

Rupiah to USDollar starting 2009.

The Company also has obtained an approval from Minister

of Finance/Directorate General of Taxation No. KEP-

1575/WPJ. 07IBD.0412008 dated Jl December 2008 formaintaining its accounting records in USDollarfrom 2009.


cntx-lkt 20080001

Documents