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PT. PRASIDHA ANEKA NIAGA, Tbk.
AND ITS SUBSIDIARIES
Consolidated Statement of Financial Report
For Three Months Period That Ended in The Following Dates
March 31 of 2026, December 31 of 2025 and March 31 of 2025
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
ASSETS
Notes 2026 2025
CURRENT ASSETS
Cash on hand and in banks 2d,2n,3 3.923.092.035 6.523.024.716
Trade receivables - net 2d,2e,2n,4,5 4.441.168.473 6.633.752.230
Other receivables 6 72.524.714 6.852.446
Inventories 2i, 7 3.201.131.990 3.218.862.282
Advances to suppliers and others 32.536.010 97.608.525
Prepaid expenses 2j 44.176.175 44.176.175
Total Current Assets 11.714.629.397 16.524.276.374
NON-CURRENT ASSETS
Fixed assets - net 2k,9 118.572.882.384 120.076.401.975
Estimated claims for income tax refunds 2o,10 2.802.698.955 1.371.814.494
Loan to employees 2e 626.983.332 615.483.331
Refundable deposits 2m 893.705.000 893.705.000
Total Non-current Assets 122.896.269.671 122.957.404.800
TOTAL ASSETS 134.610.899.068 139.481.681.174
See accompanying Notes to the Consolidated Financial Statements which are an integral part of the consolidated financial statements taken as a whole.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
LIABILITIES AND EQUITY
Notes 2026 2025
CURRENT LIABILITIES
Trade payables - third parties 11 3.723.973.377 9.032.467.084
Other payables 65.162.893.840 66.203.713.349
Accrued Expenses 2d,2f,2j,12 18.864.717.260 21.512.578.808
Taxes payable 2o,13 549.134.366 657.845.718
Fixed assets advance sale 2k 11.498.100.000 800.000.000
Total Current Liabilities 99.798.818.843 98.206.604.959
NON-CURRENT LIABILITY
Long-term employee benefits liability 2p,14 20.937.589.712 20.947.589.713
Total Non-current Liabilities 20.937.589.712 20.947.589.713
Total Liabilities 120.736.408.555 119.154.194.672
EQUITY
Equity attributable to equity holders of the
parent entity
Share capital
Authorized, issued and fully paid - 1.440.000.000 shares
at par value of Rp 175 per share 15 252.000.000.000 252.000.000.000
Additional paid-in capital 53.293.498.409 53.293.498.409
Difference arising from acquisition of
non-controlling interests 2m - -
Deficits (302.406.208.842) (295.953.212.853)
Selisih atas akuisisi kepentingan
non-pengendali - -
Other comprehensive income 10.987.200.946 10.987.200.946
Total equity attributable to owners of the parent entity 13.874.490.513 20.327.486.502
Non-controlling interest - -
Total Equity 13.874.490.513 20.327.486.502
TOTAL LIABILITIES DAN EQUITY 134.610.899.068 139.481.681.174
See accompanying Notes to the Consolidated Financial Statements which are an integral part of the consolidated financial statements taken as a whole.
Jakarta, April 29, 2026
President Director
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Expressed in Rupiah, unless otherwise stated)
For Three Months that ended in
March 31 of the following year
Notes 2026 2025
NET SALES 2e,2n,4,16 4.010.084.400 1.438.218.600
COST OF GOODS SOLD 2n,7,17 3.507.215.280 1.360.647.016
GROSS PROFIT 502.869.120 77.571.584
OPERATING INCOME (EXPENSES) 2n,20,21
Selling expenses (55.891.150) (62.537.110)
General and administrative expenses (6.412.160.821) (5.342.242.418)
Other operating income (expenses), net (490.757.000) 49.142.217
Operating income (expenses), net (6.958.808.971) (5.355.637.311)
OPERATING PROFIT (LOSS) (6.455.939.851) (5.278.065.727)
OTHER INCOME (EXPENSE) 2n,21,22
Other income (expense), net 2.943.862 1.912.977
PROFIT (LOSS) BEFORE INCOME TAX
EXPENSES (6.452.995.989) (5.276.152.750)
INCOME TAX EXPENSES 2o,10,14
Income tax expenses, net - -
NET PROFIT (LOSS) FOR THE YEAR (6.452.995.989) (5.276.152.750)
Other comprehensive income - -
TOTAL COMPREHENSIVE INCOME (LOSS)
FOR THE YEAR (6.452.995.989) (5.276.152.750)
Net profit (loss) for the year
attributable to:
Owners of parent entity (6.452.995.989) (5.276.152.750)
Non-controlling interest - -
TOTAL (6.452.995.989) (5.276.152.750)
Total comprehensive income (loss) for the year
attributable to :
Owners of parent entity (6.452.995.989) (5.276.152.750)
Non-controlling interest - -
TOTAL (6.452.995.989) (5.276.152.750)
EARNINGS (LOSS) PER SHARE
ATTRIBUTABLE TO OWNERS OF
THE PARENT ENTITY 2q (4,48) (3,66)
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(Expressed in Rupiah, unless otherwise stated)
For the period of three months that ended March 31, 2026
Difference Arising from Remeasurements
Issued and Fully Additional Paid-in Acquisition of Non- of Defined Benefit Non-controlling
Paid Capital Capital Deficits controlling Interests Program Total Interests Total Equity
Balance as of December 31, 2024 252.000.000.000 53.293.498.409 (269.772.337.948) - 10.975.080.483 46.496.240.944 - 46.496.240.944
Net loss for the year 2025 - - (26.180.874.905) - - (26.180.874.905) - (26.180.874.905)
Other comprehensive income - net - - - - 12.120.463 12.120.463 - 12.120.463
Balance as of December 31, 2025 252.000.000.000 53.293.498.409 (295.953.212.853) - 10.987.200.946 20.327.486.502 - 20.327.486.502
Net loss for three months - - (6.452.995.989) - - (6.452.995.989) - (6.452.995.989)
Balance as of March 31, 2026 252.000.000.000 53.293.498.409 (302.406.208.842) - 10.987.200.946 13.874.490.513 - 13.874.490.513
See accompanying Notes to the Consolidated Financial Statements which are an integral part of the consolidated financial statements taken as a whole.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOW
(Expressed in Rupiah, unless otherwise stated)
For Three Months that ended in
March 31 of the following year
Notes 2026 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipt from customer 9.626.854.377 10.895.714.850
Cash receipt from:
Rent income 18.116.100 -
Interest income 2.985.545 1.463.935
Others - 3.987.387
Cash paid to suppliers (8.468.846.307) (5.984.700.134)
Cash paid to:
Salary and wages (2.480.610.987) (2.608.181.898)
Operating expenses (5.854.878.981) (3.041.996.939)
Corporate income tax (2.755.892.286) (85.000)
Net Cash Used in Operating Activities (9.912.272.539) (733.797.799)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceed from sale of fixed assets 9 88.000.000 453.500.000
Acquisition of fixed assets 9 (8.675.000) -
Advance for sale of fixed assets 9 10.698.100.000 -
Net Cash Provided by Investing Activities 10.777.425.000 453.500.000
CASH FLOWS FROM FINANCING ACTIVITIES
Received (payment) other payables
from related parties (56.910.780) 2.482.500.000
Net Cash Provided by Financing Activities (56.910.780) 2.482.500.000
NET INCREASE (DECREASE) IN CASH ON HAND AND IN BANKS 808.241.681 2.202.202.201
NET IMPACT OF CHANGES THE EXCHARGER RATE 273.245 (840.874)
CASH ON HAND AND IN BANKS AT THE BEGINNING
OF THE YEAR 3 3.114.577.109 3.668.460.928
CASH ON HAND AND IN BANKS AT THE END OF PERIOD 3 3.923.092.035 5.869.822.255
See accompanying Notes to the Consolidated Financial Statements which are an integral part of the consolidated financial statements taken as a whole.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
1. GENERAL
a. Company’s Establishment
PT Prasidha Aneka Niaga Tbk (the “Company”) was established under the name of PT Aneka Bumi Asih based on the Notarial
Deed No. 7 of Paul Tamara dated April 16, 1974. The deed of the Company’s establishment was approved by the
Department of Justice of Republic of Indonesia in Decision Letter No. Y.A.5/358/23 dated October 3, 1974 and was published in
the Supplement No. 2488 of State Gazette No. 37 dated May 10, 1994.
The Company’s Articles of Association have been amended several times, the most recent being based on by Notarial Deed No.
306 of Christina Dwi Utami, S.H., M.Hum., M.Kn., dated June 28, 2024, regarding the amendments of the Company’s address.
The amendment was approved by Minister of Laws and Human Rights of the Republic of Indonesia through Letter Acceptance
of Notification of Amendment to Articles of Association No. AHUAH. 01.09-0222828 dated July 5, 2024.
According to Article 3 of the Company’s Articles of Association, the scope of the Company’s activities is agricultural products
processing and trading. The Company started its commercial operations in 1974.
The address of the Company’s registered office and principal place of business is in Jalan Siantar No. 6, Central Jakarta and its
factory is located at Ki Kemas Rindho Street, Kertapati, Palembang.
The Company’s immediate and ultimate holding company is PT Prasidha.
b. Public Offering of Company Securities
On September 22, 1994, based on the Capital Market Supervisory Agency (”BAPEPAM”) Letter No. S-1645/PM/1994, the
Company offered to the public through the Jakarta and Surabaya Stock Exchanges (which have merged to become the Indonesia
Stock Exchange) 30,000,000 shares with Rp 1,000 par value a share at the selling price per share of Rp 3,000. The difference
between the total par value and selling price of the shares sold (capital paid in excess of par value) amounted to Rp
60,000,000,000. In 1997, the Company distributed bonus shares (1 bonus share for every 2 shares held by the shareholders on
record as of July 8, 1997).
On January 30, 2012, the Company changed the par value from Rp 500 per share to become Rp 175 per share. The reduction of
share was needed by the Company to conduct quasireorganization legally. The Group conducted the quasi-reorganization on a
consolidated basis. The revaluation increment in the asset values of the Group is eliminated against the accumulated losses on a
consolidated basis. The Company’s shares totaling to 1,440,000,000 shares are listed on the Indonesia Stock Exchange.
c. Structure of the Subsidiaries
The details of the consolidated subsidiaries are as follows :
Percentage Total Asset
Domicile and of (In Millions)
Name of Entity Start of Operation Nature of Activities Ownership 2026 2025
Langsung
PT Aneka Bumi Kencana Surabaya, 1984 Agricultural products 99,86 7.488 7.595
processing and trading
PT Tirtha Harapan Bali Singaraja, 1973 Agricultural products 99,99 417 397
processing and trading
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
PT. Aneka Bumi Kencana
Based on Notarial Deed of Liliana Arif Gondoutomo, S.H., No. 53 dated December 29, 1997, the Company owned 700 shares at
nominal value of each share amounting to Rp 1,000,000 per share and a share ownership percentage of 99.86%.
PT. Tirtha Harapan Bali
Based on Notarial Deed of Leolin Jayayanti, S.H., No. 152 dated January 30, 2004, the Company and THB agreed that THB's
debt to the Company amounting to Rp 10,000,000,000 was converted into share capital, so that the Company owned 11,000
shares at nominal value of each share amounting to Rp 1,000,000 per share and a share ownership percentage of 99.99%.
d. Board of Commissioners and Directors, Audit Committee, and Employees
Board of Commissioners and Directors, and Audit Committee as of March 31, 2026 are as follows :
Board of Commissioners
1. Mansjur Tandiono - President Commissioner
2. Widyono Lianto - Vice President Commissioner
3. Agus Soegiarto - Commissioner
4. Fery Yennoto - Independent Commissioner
5. Robertus Sukamto - Independent Commissioner
Board of Directors
1. Jeffry Sanusi Soedargo - President Director
2. Didik Tandiono - Vice President Director
3. Moenardji Soedargo - Director
Audit Committee
1. Robertus Sukamto - Chairman
2. Henryanto Handoko - Member
3. Kasmita Wijaya - Member
Board of Commissioners and Directors, and Audit Committee as of December 31, 2025 are as follows :
Board of Commissioners
1. Mansjur Tandiono - President Commissioner
2. Widyono Lianto - Vice President Commissioner
4. Agus Soegiarto - Commissioner
5. Fery Yennoto - Independent Commissioner
6. Robertus Sukamto - Independent Commissioner
Board of Directors
1. Jeffry Sanusi Soedargo - President Director
2. Didik Tandiono - Vice President Director
3. Moenardji Soedargo - Director
Audit Committee
1. Robertus Sukamto - Chairman
2. Henryanto Handoko - Member
3. Kasmita Wijaya - Member
As of March 31, 2026 and December 31, 2025, total permanent employees of the Company and its subsidiaries is 76 (seventy-six)
employees.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
e. The Release of Interim Consolidated Financial Statements
This interim consolidated financial report is authorized by the Board of Directors for publication on April 29, 2026.
2. MATERIAL ACCOUNTING POLICIES INFORMATION
The main accounting policies applied in preparing the consolidated financial statements of the Company and its subsidiaries
are as described below:
Compliance with Financial Accounting Standards (“SAK”)
The consolidated financial statements of the Group have been prepared and presented in accordance with Indonesian SAK
which
comprise of the Statements of Financial Accounting Standards (“PSAK”) and the Interpretation of Financial Accounting
Standards (“ISAK”) issued by Financial Accounting Standards Board of the Institute of Indonesia Chartered Accountants
(“DSAK-IAI”), and BAPEPAM-LK Regulation No. VIII.G.7 regarding the Presentations and Disclosures of Financial Statements
of listed entity, enclosed in the decision letter No. KEP-347/BL/2012 of Chairman of BAPEPAM-LK dated June 25, 2012.
a. Basis of Measurement in Preparation of the Consolidated Financial Statements
The consolidated financial statements, except for the consolidated statement of cash flows, have been prepared based on the
accrual basis using the historical cost concept of accounting, except for certain accounts which are measured on the basis
described in the related accounting policies.
The reporting currency used in the preparation of the consolidated financial statements is Rupiah or Rp which also represents
functional currency of the Group.
The consolidated statement of cash flows are prepared using the direct method, and classified into operating, investing and
financing activities.
b. Basis of Consolidation
Subsidiaries are entities over which the Group has control. The Group controls an investeewhen the Group (a) has power over
the investee, (b) is exposed, or has rights, to variable returns from its involvement with the investee, and (c) has the ability to
use its power over the investee to affect its returns. The Group re-assesses whether or not it controls an investee if facts and
circumstances indicate that there are changes to one or more of the three elements of control.
Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group losses
control of the subsidiary. Income and expenses of a subsidiary acquired or disposed of during the year are included in the profit
or loss from the date the Group gains control until the date the Group ceases to control the subsidiary.
Profit or loss and each component of other comprehensive income are attributed to owners of the parent entity and to the non-
controlling interests, even if this results in the noncontrolling interests having a deficit balance. When necessary, adjustments
are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting
policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between
members of the Group are eliminated in full on consolidation.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. Any
difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid
or received is recognized directly in equity and attributed to owners of the parent entity.
If the Group losses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling
interest and other components of equity while any resulting gain or loss is recognized in profit or loss. Any investment retained
is recognized at fair value.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
c. Foreign Currency Transactions and Balances
Transactions in foreign currencies are translated in to Rupiah using the exchange rates prevailing at the dates of the
transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange prevailing
at the consolidated statement of financial position date. Nonmonetary items that are measured in terms of historical cost in a
foreign currency are not retranslated. Exchange differences arising on the settlement of monetary items and on retranslation of
monetary items are included in profit or loss.
The middle exchange rates used are Rp16.993,- and Rp16.782,- for US$ 1 on March 31, 2026 and December 31, 2025, respectively.
d. Transactions with Related Parties
In accordance with PSAK 224 (formerly PSAK 7), “Related Party Disclosures”, parties are considered to be related if one party
has the ability to control (by way of ownership, directly or indirectly) or exercise significant influence (by way of participation in
the financial and operating policies) over the other party in making financial and operating decisions.
e. Financial Instruments
Financial Assets
The Group determines the classification of its financial assets at initial recognition. Classification and measurement of financial
assets are based on business model and contractual cash flows - whether from solely payment of principal and interest.
Financial assets are classified in the following categories :
Financial assets at amortized cost; and
Financial assets at fair value through profit or loss (“FVTPL”) or other comprehensive income (“FVOCI”).
The Group’s financial assets include cash on hand and in banks, trade receivables, other receivables, loan to employees,
investment in shares, and refundable deposits. Financial assets in this category are classified as current assets if expected to be
settled within 12 months, otherwise they are classified as noncurrent.
The subsequent measurement of financial assets depends on their classification as follows:
(i) Financial assets at amortized cost
The Group measures financial assets at amortized cost if both of the following conditions are met :
(1) the financial asset is held within a business model with the objective of holding to collect contractual cash flows; and
(2) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding.
Financial assets at amortized cost are subsequently measured using the Effective Interest Rate (“EIR”) method, less impairment.
Amortized cost is calculated by taking into account any discount or premium on acquisition fees or costs that are an integral part
of the EIR. The EIR amortization is included in the consolidated profit or loss. The losses arising from impairment are also
recognized in the profit or loss.
The group of financial assets include cash on hand and in banks, trade receivables, other receivables, loan to employees, and
refundable deposits.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
(ii) Financial assets at fair value through OCI
Debt Instruments
The Group measures debt instruments at fair value through OCI if both of the following conditions are met: (1) the financial asset
is held within a business model with the objective of both holding to collect contractual cash flows and selling; and (2) the
contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest
on the principal amount outstanding.
For debt instruments at fair value through OCI, interest income, foreign exchange revaluation and impairment losses or reversals
are recognized in profit or loss and computed in the same manner as for financial assets measured at amortized cost. The
remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value changerecognized in OCI is
recycled to profit or loss.
Equity Instruments
Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at fair
value through OCI when they meet the definition of equity under PSAK 232 (formerly PSAK 50): Financial Instruments:
Presentation and are not held for trading. The classification is determined on an instrument-by instrument basis.
Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in profit or
loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of
the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through
OCI are not subject to impairment assessment.
The Group has investments in shares of stock which is classified as financial asset at fair value through OCI.
(iii) Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial
recognition at fair value through profit or loss, or financial assets mandatorily required to be measured at fair value. Financial
assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term.
Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as
effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified
and
measured at fair value through profit or loss, irrespective of the business model.
Notwithstanding the criteria for debt instruments to be classified at amortized cost or at fair value through OCI, as described
above, debt instruments may be designated at fair value through profit or loss on initial recognition if doing so eliminates, or
significantly reduces, an accounting mismatch.
Financial assets at fair value through profit or loss are subsequently carried in the consolidated statement of financial position at
fair value, with changes in fair value recognized in the profit or loss.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
Financial Liabilities
Financial liabilities within the scope of PSAK 109 (formerly PSAK 71) are classified as follows :
Financial liabilities at amortized cost; and
Financial liabilities at fair value through profit or loss (“FVTPL”).
The Group determines the classification of its financial liabilities at initial recognitional.
All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, inclusive of directly
attributable
transaction costs.
The Group’s financial liabilities include trade payables, other payables, and accrued expenses. Financial liabilities are classified as
non-current liabilities when the remaining maturity is more than 12 months, and as current liabilities when the remaining
maturity is less than 12 months.
Financial liabilities at amortized cost (e.g interest-bearing loans and borrowings) are subsequently measured using the EIR
method.
The EIR amortization is included in finance costs in the profit or loss.
A financial liability is derecognized when the obligation under the liability is discharged or canceled or has expired.
When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability
and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in the profit or loss.
Offsetting Financial Assets and Financial Liabilities
Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position if, and
only if, the Group has currently enforceable legal right to offset the recognized amounts and intends either to settle on a net basis,
or to realize the asset and settle the liability simultaneously.
Impairment of Financial Assets
The Group applies expected credit loss (“ECL”) model for measurement and recognition of impairment loss. At each reporting
date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition.
When making the assessment, the Group uses the change in the risk of a default occurring over the expected life of the financial
instrument instead of the change in the amount of expected credit losses. To make that assessment, the Group compares the risk of
a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial
instrument as at the date of initial recognition and consider reasonable and supportable information, that is available without
undue cost or effort at the resporting date about past events, current conditions and forecasts of future economic conditions, that
is indicative of significant increases in credit risk since initial recognition.
The Group applied a simplified approach to measure such expected credit loss for trade and other receivables without significant
financing component.
The Group assesses the ECL associated with its debt instruments carried at fair value through OCI on a forward-looking basis.
The impairment methodology applied depends on whether there has been a significant increase in credit risk.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
f. Estimation of Fair Value
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants in the principal (or most advantageous market) at the measurement date under current market conditions
(i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique at the
measurement date.
A fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either:
a) in the principal market for the asset or liability; or
b) in the absence of a principal market, in the most advantageous market for the asset or liability.
The Group measures the fair value of an asset or a liability using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits
by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest
and best use.
The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.
Fair value hierarchy are categorized into 3 (three) levels the inputs to valuation techniques used to measure fair value, as
follows:
a) Level 1 inputs - quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the
measurement date.
b) Level 2 inputs - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either
directly or indirectly.
c) Level 3 inputs - unobservable inputs for the asset or liability.
For assets and liabilities that are recognized in the consolidated financial statements on a recurring basis, the Group determines
whether transfers have occurred between Levels in the hierarchy by re-assessing categorization (based on the lowest level input
that is significant to the fair value measurement as a whole) at the end of each reporting period.
The Group determines appropriate classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset
g. Cash on Hand and in Banks
Cash on hand and in banks represent cash on hand and in banks neither used as collateral nor restricted.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
h. Inventories
Inventories are stated at the lower of cost or net realizable value. The cost of inventories includes all costs of purchase and other
costs incurred in bringing the inventories to their present location and condition. The cost is determined using the average
method. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary
to make the sale.
Provision for decline in value of inventory due to obsolescence, damage, loss and slow movement is determined based on a
review of the condition of individual inventories to reflect its net realizable value at the end of the year. The amount of any
allowance for impairment and all losses of inventories are recognized as an expense in the period the write-down or loss occurs.
i. Prepaid Expenses
Prepaid expenses are amortized and charged to operations over their beneficial periods using the straight line method
j. Fixed Assets
Fixed assets are initially recorded at cost. The cost of an asset comprises of its purchase price and any directly attributable cost
of bringing the asset to its working condition and location for its intended use. Subsequent to initial recognition, fixed assets are
measured at cost less accumulated depreciation and any accumulated impairment losses. Land are
measured at cost and not depreciated.
In accordance with ISAK 336 (formerly ISAK 36), the Group analyzes the facts and circumstances for each type of landrights in
the form of Business Usage Rights (Hak Guna Usaha or “HGU”), Building Usage Rights (Hak Guna Bangunan or “HGB”) and
Usage Rights (Hak Pakai or “HP”) in determining the accounting for each of these landrights so that it can accurately represent
an underlying economic event or transaction. If the landrights do not transfer control of the underlying assets to the Group, but
gives the rights to use the underlying assets, the Group applies the accounting treatment of these transactions as leases under
PSAK 116 (formerly PSAK 73), “Lease”. If landrights are substantially similar to land purchases, the Group applies PSAK 216
(formerly PSAK 16) “Fixed Assets”.
Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, when it is
probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be reliably
measured. The carrying amount of the replaced part is derecognized during the financial year in which they are incurred. All
other repairs and maintenance are charged to profit or loss
Depreciation of fixed assets is calculated using the straight-line method to allocate the depreciable amount over the estimated
useful lives of the fixed asset as follows:
Years
Building and infrastructure 10-20
Machinery and equipment 5-10
Office equipment 2-4
Vehicles 2-4
The useful life, residual values and depreciation methods are reviewed at year end and the effect of the changes in those
estimates are applied prospectively.
Fixed assets is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain
or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying
amount of the item) is recognized in consolidated statement of profit or loss and other comprehensive income in the year the item
Page 17
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
it is derecognized.
Page 18
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
k. Impairment of Non-financial Assets
Non-financial assets that have an indefinite useful life are not subject to amortization but tested annually for impairment, or
more frequently if events or changes in circumstances indicate that they might be impaired. Non-financial assets that are subject
to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount
may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its
recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use.
For the purposes of assessing impairment, assets are grouped to the smallest identifiable unit that generates separates cash
flows (cashgenerating units). Non-financial assets that suffered an impairment are reviewed for possible reversal of the
impairment at each reporting date.
l. Leases
Group as a lessee
At the inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is or contains a lease if
the contract conveys the right to control the use of an identified assets for a period of time in exchange for consideration.
To assess whether a contract conveys the right to control the use of an identified asset, the Group assesses whether:
- The Group has the right to obtain substantially all the economic benefits from use of the asset throughout the period of use; and
- The Group has the right to direct the use of the asset. The Group has this right when it has the decision-making rights that are
the most relevant to changing how and for what purpose the asset is used are predetermined:
i). The Group has the right to operate the asset;
ii). The Group has designed the asset in a way that predetermined how and for what purpose it will be used.
At the inception or on re-assessment of a contract that contains a lease component, the Group allocates the consideration in the
contract to each lease component on the basis of their relative stand-alone prices and the aggregate stand-alone price of the non-
lease components. However, for the leases of improvements in which the Group is a lessee, the Group has elected not to separate
nonlease components and account for the lease and non-lease components as a single lease component.
At the lease commencement date, the Group recognizes a right-of-use asset and a lease liability. The right-of-use asset is initially
measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payment made at or before the
commencement date, plus any initial direct cost incurred and an estimate of costs to dismantle and remove the underlying asset
or to restore the underlying asset to the condition required by the terms and conditions of the lease, less any lease incentives
received.
The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of
the
end of the useful life of the right-of-use asset or the end of the lease term.
Page 19
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date,
discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, using incremental borrowing
rate. Generally, the Group uses its incremental borrowing rate as the discount rate.
Lease payments included in the measurement of the lease liability comprise the following:
- fixed payments, including in-substance fixed payments less any lease incentive receivable;
- variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement
date;
- amounts expected to be payable under a residual value guarantee;
- the exercise price under a purchase option that the Group is reasonably certain to exercise; and
- the penalties for early termination of a lease unless the Group is reasonably certain not to terminate early.
Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease
period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.
The Group presents right-of-use assets as part of “Fixed Assets” in the consolidated statement of financial position.
If the lease transfers ownership of the underlying asset to the Group by the end of the lease term or if the cost of the right-of-use
asset reflects that the Group will exercise a purchase option, the Group depreciates the right-of-use asset from the
commencement date to the end of the useful life of the underlying asset. Otherwise, the Group depreciates the right-of-use asset
from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term.
Short-term leases
The Group has elected not to recognize rightof- use assets and lease liabilities for short-term leases that have a lease term of 12
months or less. The Group recognizes the leases payments associated with these leases as an expense on a straight-line basis over
the lease term.
Group as a lessor
When the Group acts as a lessor, it shall classify each of its leases as either an operating lease or a finance lease.
To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and
rewards incidental to ownership of the underlying asset. If this is the case, then the lease is classified as a finance lease; if not,
then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease term is
for the major part of the economic life of the asset.
Page 20
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
m. Revenue and Expense Recognition
Revenue from contracts with customers
Revenue recognition have to fulfill 5 steps of assessment :
(i) Identify contract(s) with a customer.
(ii) Identify the performance obligations in the contract. Performance obligations are promises in a contract to transfer to a
customer goods or services that are distinct.
(iii) Determine the transaction price. Transaction price is the amount of consideration to which an entity expects to be entitled
in
exchange for transferring promised goods or services to a customer. If the consideration promised in a contract includes a
variable amount, the Group estimates the amount of consideration to which it expects to be entitled in exchange for
transferring the promised goods or services to a customer less the estimated amount of service level guarantee which will
be
paid during the contract period.
(iv) Allocate the transaction price to each performance obligation on the basis of the relative stand-alone selling prices of each
distinct goods or services promised in the contract. Where these are not directly observable, the relative standalone selling
price are estimated based on expected cost plus margin.
(v) Recognize revenue when performance obligation is satisfied by transferring a promised goods or services to a customer
(which is when the customer obtains control of that goods or services).
A performance obligation may be satisfied at the following :
A point in time (typically for promises to transfer goods to a customer); or
Over time (typically for promises to transfer services to a customer). For a performance obligation satisfied over time, the
Group selects an appropriate measure of progress to determine the amount of revenue that should be recognized as the
performance obligation is satisfied.
Payment of the transaction price differs for each contracts. A contract asset is recognized once the consideration paid by
customer is less than the balance of performance obligation which has been satisfied.
A contract liability is recognized once the consideration paid by customer is more than the balance of performance obligation
which has been satisfied. Contract liabilities are presented under "Unearned revenue".
Sales of Goods
Revenue from the sale of physical goods is recognized when the significant risks and rewards of ownership have been
transferred to the customer. This is usually taken as the time when the goods are delivered and the customer has accepted the
goods.
Income from sale of fixed assets
Income from sale of fixed assets is recognized upon completion of the earning process when the control over the goods have
passed to the buyer and the collectibility of the sales price is reasonably assured.
Rent income
Revenue arising from office leasing classified as an operating lease is recognized over time on the straight-line basis over the
lease term.
Interest income
Interest income is recognized on a timeproportion basis using the effective interest method
Expenses
Interest expense
Interest expense for all interest-bearing financial liabilities are recognized in ‘Finance costs’ in the statement of profit or loss
using the EIR of the financial liabilities to which they relate.
Other expenses
Other expenses are recognized when they are incurred.
Page 21
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
expenses recognized they
Page 22
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
n. Income Tax
Income tax expense consist of current tax and deferred tax. Income tax expense are recognized in the statement of profit or loss
and other comprehensive income except to the extent that it relates to items recognized directly in equity. In which case, it is
recognized in other comprehensive income or equity.
Current Tax
Current tax expense is calculated using the tax rate that applicable at the financial reporting date, and is determined based on
the estimated taxable income for the year. Management periodically evaluates positions reported in the Annual Tax Return
(“SPT”) in connection with situations where applicable tax rules require interpretation. If necessary, management determines
provision based on the amount expected to be paid to the tax authorities.
Interest and penalty for underpayment or overpayment of income tax, if any, are recorded in the “Income Tax Benefit
(Expense)” account in the consolidated statement of profit or loss and other comprehensive income.
The additional amount of tax principal and penalties that are stated by the Tax Assessment Letter (“SKP”) are recognized as
income or expenses in the consolidated statement of profit or loss and other comprehensive income for the year, except if the
further settlement is proposed. The additional amount of tax principal and penalties that are stated by the SKP shall be deferred
as long as it meets the criteria for assets recognition.
Deferred Tax
Deferred tax is recognized based on temporary differences at reporting date between the tax bases of assets and liabilities and
their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognized for all taxable temporary
differences with some exceptions. Deferred tax assets are recognized for deductible temporary differences and tax losses to the
extent that it is probable that future taxable income will be sufficient to offset the temporary differences and tax losses.
The carrying amount of a deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the benefit of that deferred tax asset to be utilized.
Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become
probable that future taxable profit will allow the deferred tax assets to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized
or the liability is settled based on tax rates and tax laws that have been enacted or substantively enacted as at the reporting date.
Deferred tax assets and liabilities can be offset if, and only if, (a) there is a legally enforceable right to offset the current tax
assets and liabilities and (b) the deferred tax assets and liabilities relate to the same taxable entity and the same taxation
authority.
o. Employee Benefits Liability
As of March 31, 2026 and December 31, 2025, the Group provides defined employee benefits to their employees in accordance
with Government Regulation (“PP”) No. 35 of 2021 of Law No. 11 of 2020 (Job Creation Law) enacted in November 2020, as
changed to Law of the Republic of Indonesia No. 6 of 2023 concerning Government Regulation in lieu of Law Number 2 of 2022
concerning Job Creation to become Law. The defined benefit plan is unfunded.
The Group’s net obligation in respect of the defined benefit plan is calculated as the present value of the employee benefits
liability at the end of the reporting period less the fair value of plan assets, if any. The employee benefits liability is determined
using the Projected Unit Credit method with actuarial valuations being carried out at the end of each reporting period.
Remeasurements of employee benefits liability, comprise of a) actuarial gains and losses, b) the return of plan assets, excluding
interest, and c) the effect of asset ceiling, excluding interest, are recognized immediately in the other comprehensive income in
the period in which they occur. Remeasurements are not reclassified to profit or loss in the subsequent periods.
Kelompok Usaha mengakui (1) biaya jasa,
The Group recognizes the (1) service costs, comprising of current service cost, past service cost and any gain or loss on
settlement, and (2) net interest expense or income immediately in profit or loss as of when they occur.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
Page 24
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
p. Earnings (Loss) per Share
Basic earnings (loss) per share is computed by dividing net income for the period attributable to owners of the parent by the
weighted average number of shares outstanding during the year.
Diluted earnings per share is calculated when the Company has dilutive potential ordinary shares.
q. Segment Information
A segment is a distinguishable component of the Group that engaged either in providing certain products (business segment),
or in providing products within a particular economic environment (geographical segment), which is subject to risks and
rewards that are different from those of other segments.
Segment revenue, expenses, results, assets and liabilities include items directly attributable to a segment as well as those that
can be allocated on a reasonable basis to that segment. Segments are determined before inter-company balances and
transactions are eliminated as part of consolidation process.
r. Judgments
In the process of applying the Group's accounting policies, management made the following judgments, apart from those
involving estimations, which has the most significant effect on the amounts recognized in the consolidated financial
statements:
Classification of financial assets and financial liabilities
The Group classifies its financial assets depending on the business model for managing those financial assets and whether
the contractual terms of the financial asset are solely payments of principal and interest on the principal amount
outstanding. The financial assets and financial liabilities are accounted for in accordance with the Group’s accounting
policies
Determining business model assessment
Classification and measurement of financial assets depends on the results of the solely payment of principal and interest
(“SPPI”) on the principal amount outstanding and the business model test.
The Group determines the business model at a level that reflects how groups of financial assets are managed together to
achieve a particular business objective. This assessment includes judgment reflecting all relevant evidence including how
the performance of the assets is evaluated and their performance measured, the risks that affect the performance of the
assets and how these are managed. The Group monitors financial assets measured at amortized cost or fair value through
other comprehensive income that are derecognized prior to their maturity to understand the reason for their disposal and
whether the reasons are consistent with the objective of the business for which the asset was held.
Monitoring is part of the Group’s continuous assessment of whether the business model for which the remaining financial
assets are held continues to be appropriate and if it is not appropriate whether there has been a change inbusiness model
and so a prospective change to the classification of those assets.
Page 25
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
Evaluating lease agreements
Group as Lessor
The Group has entered into property commercial leases for a warehouse. The Group has determined, based on an
evaluation of the terms and conditions of the arrangements, such as the lease term not constituting a major part of the
economic life of the commercial property and the present value of the minimum lease payments not amounting to
substantially all of the fair value of the commercial property, that it retains substantially all the risks and rewards
incidental to ownership of these properties and accounts for the contracts as operating leases.
Group as lessee - Assessing lease arrangement and lease term
Determining whether an arrangement is or contains a lease requires careful judgment to assess whether the arrangement
conveys a right to obtain substantially all the economic benefits from use of the asset throughout the period of use and
right to direct the use of the asset, even if the right is not explicitly specified in the arrangement. In determining the lease
term, the Group considers all facts and circumstances that create an economic incentive to exercise an extension option, or
not exercise a termination option. Extension options (or periods after termination options) are only included in the lease
term if the lease is reasonably certain to be extended (or not terminated).
Group as lessee - Estimating the incremental borrowing rate for lease liabilities
Since the Group could not readily determine the implicit rate, management use the Group's incremental borrowing rate as
a discount rate. There are a number factors to consider in determining an incremental borrowing rate, many of which
need judgment in order to be able to reliably quantify any necessary adjustments to arrive at the final discount rates. In
determining incremental borrowing rate, the Group considers the following main factors: the Group’s corporate credit
Page 26
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
s. Sources of Estimation Uncertainty
The key assumptions related to the future and the main sources of estimation uncertainty at the reporting date that have a
significant risk of material adjustments to the carrying amount of assets and liabilities within the next period end are disclosed
below. The Group’s assumptions and estimates are based on a reference available at the time the consolidated financial
statements are prepared. Current situation and assumptions regarding future developments, may change due to market changes
or circumstances beyond the control of the Group. These changes are reflected in the related assumptions as incurred.
Impairment of trade and other receivables
The level of a specific provision is evaluated by management on the basis of factors that affect the collectibility of the accounts.
In these cases, the Group uses judgment based on the best available facts and circumstances, including but not limited to, the
length of the Group’s relationship with the customers and customers’ credits status based on third-party credit reports and
known market factors, to record specific reserves for customers against amounts due in order to reduce the Group’s receivables
to amounts that it expects to collect.
These specific reserves are re-evaluated and adjusted as additional information received affects the amounts estimated. In
addition to specific provision against individually significant receivables, the Group also recognizes a collective impairment
provision against credit exposure of its debtors which are grouped based on common credit characteristics, and although not
specifically identified as requiring a specific provision, have a greater risk of default than when the receivables were originally
granted to the debtors
Page 27
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
Group applies simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all
trade receivables. In determining expected credit losses, management is required to exercise judgment in defining what is
considered to be a significant increase in credit risk and in making assumptions and estimates to incorporate relevant
information about past events, current conditions and forecasts of economic conditions. Judgment has been applied in
determining the lifetime and point
of initial recognition of receivables.
Provision for decline in value of inventories
Management reviews aging analysis at each consolidated statement of financial position date, and makes allowance for obsolete
and slow moving inventory items identified that are no longer suitable for use in production. Management estimates the net
realizable value of such finished goods and work-in-progress based primarily on the latest invoice prices and current market
conditions.
Estimation of useful lives of fixed assets
The costs of fixed assets are depreciated on a straight-line basis over the fixed assets’ estimated economic useful lives.
Management estimates the useful lives of these fixed assets to be within 2 to 20 years. These are common life expectancies
applied in the industry. Changes in the expected level of usage and technological developments could impact the economic
useful lives and the residual values of these assets, therefore, future depreciation charges could be revised. The carrying amount
of the Group's fixed assets at the consolidated statement of financial position date is disclosed in Note 9 to the consolidated
financial statements.
Impairment of non-financial assets
Impairment review for non-financial assets is performed when certain impairment indicators are present. Determining the fair
value of assets requires the estimation of cash flows expected to be generated from the continued use and ultimate disposition of
such assets. Any significant changes in the assumptions used in determining the fair value may materially affect the assessment
of recoverable values and an resulting impairment loss could have a material impact on results of operations.
Provision for income tax
Significant judgment is involved in determining the provision for income taxes. There are certain transactions and computations
for which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognizes liabilities for
expected tax issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is
different from the amounts that were initially recognized, such differences will impact the income tax and deferred tax
provisions in the period in which such determination is made.
Deferred tax assets are recognized for all unused tax losses to the extent that it is probable that taxable profit will be available
against which the losses can be utilized. The determination of the amount of deferred tax assets that can be recognized based
upon the likely timing and level of future taxable profits together with future tax planning strategies required significant
management judgment.
Employee benefits liability
The determination of the Group’s employee benefits liability and employee benefits expense is dependent on its selection of
certain assumptions used by independent actuary in calculating such amounts. Those assumptions include among others,
discount rates, future annual salary increase, disability rate, retirement age and mortality rate.
Actual results that differ from the Group’s assumptions are treated in accordance with the policies as mentioned in Note 2 to the
consolidated financial statements. While the Group believes that its assumptions are reasonable and appropriate, significant
differences in the Group’s actual experience or significant changes in the Group’s assumptions may materially affect its long-
term employee benefits liability and employee benefits expense.
Page 28
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
ACCOUNT NAME 2026 2025
3. CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist of :
2026 2025
Third Parties
Cash
In Rupiah 525.253.183 469.342.615
Total 525.253.183 469.342.615
Bank
Rupiah account
PT Bank Mandiri (Persero) Tbk 87.526.190 36.233.303
PT Bank Central Asia Tbk 3.282.042.708 5.988.307.203
PT Bank Danamon Indonesia Tbk 2.700.778 3.150.721
PT Bank Artha Graha 2.717.434 2.797.434
PT Bank SMBC 1.863.348 1.962.196
US Dollar account
PT Bank Central Asia Tbk 20.988.394 21.231.244
Total Cash and Cash Equivalents 3.923.092.035 6.523.024.716
There were no cash and bank balances placed with related parties on March 31, 2026 and December 31, 2025.
4. ACCOUNT RECEIVABLES
Accounts receivable consist of :
2026 2025
Trade in agricultural products 4.441.168.473 6.633.752.230
,
4.441.168.473 6.633.752.230
Allowance for impairment losses - -
Accounts Receivable from Third Parties - net 4.441.168.473 6.633.752.230
Page 29
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
Trade receivables are not subject to interest and generally have payment terms of 1 day to 35 days. Receivables are recognized at the
amount of the invoice that reflects their fair value at the time of initial recognition. As of March 31, 2026 and December 31, 2025, all
trade receivables are denominated in Rupiah currency.
The details of accounts receivable by age are as follows :
2026 2025
Not due yet 4.441.168.473 6.633.752.230
Total 4.441.168.473 6.633.752.230
While the percentage of the total (%) is as follows :
2026 2025
Not due yet 100,000 100,000
Total 100,000 100,000
5. BALANCES AND TRANSACTIONS WITH RELATED PARTIES
The Company and Subsidiaries have business and non-business transactions with parties who have special relationships. The
nature of the relationship with parties who have a special relationship is as follows :
Nature of Relationship with Related Parties
Company and Subsidiaries
(i) Key Management Board of Commissioners and Board of Directors
The Company and Subsidiaries provide interest-free loans to employees with certain criteria according to their respective
employment levels. This loan is repaid through monthly salary deductions.
6. OTHER RECEIVABLES
2026 2025
Others 72.524.714 6.852.446
Total 72.524.714 6.852.446
Page 30
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
7. INVENTORIES
- Merchandise can be in the
Inventory consists of inventory of merchandise, auxiliary materials and production support materials.
HasilofBumi:
form agricultural commodities, namely coffee.
Raw material
Coffee - -
Finished goods
Coffee 177.578.940 174.864.337
Auxiliary Materials and Packaging 3.023.553.050 3.043.997.945
Total Inventories 3.201.131.990 3.218.862.282
In 2025 and 2024, the acquisition costs of raw materials and finished coffee goods are lower than their market prices, so no
inventory write-off is required.
As of March 31, 2026 and December 31, 2025, inventories with a carrying value of Rp3.327.842.654,- and Rp3.218.862.282,- have been
insured against the risk of loss due to fire and other risks with Asuransi Central Asia (“ACA”), based on a specific policy package with
a combined coverage value of Rp 21,652,000,000, which in management's opinion is sufficient to cover possible losses from such risks.
Based on the results of management's review, there were no events or changes in circumstances that indicated a decrease in the
value of inventory as of March 31, 2026 and December 31, 2025.
8. INVESTMENT IN SHARES OF STOCK
Details of investment in shares of stock are as follows : 2026 2025
% Biaya Perolehan/ % Biaya Perolehan/
Kepe- Nilai Tercatat Kepe- Nilai Tercatat
Company's Name milikan (Rp) milikan (Rp)
Cost Method
PT Sarana Aceh Ventura - - - -
Total Investment in Shares of Stock - -
On December 31, 2025, all investments in PT Sarana Aceh Ventura were written off due to the revocation of the permits for the
company by Otoritas Jasa Keuangan (“OJK”) in the Announcement Letter No. PENG- 49/PL.02/2025 on October 30, 2025. The cost
of writing off the investment is charged as other expenses in the consolidated profit or loss for the current year.
Page 31
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
CONSOLIDATED NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited) and Desember 31, 2025
(Expressed in Rupiah, unless otherwis stated)
9. FIXED ASSETS
Fixed assets consist of:
2026
Beginning Addittions Deductions Ending
Balance Balance
Acquisition Costs
Direct Ownership
Land 68.809.331.220 - - 68.809.331.220
Building and Infrastructure 99.469.435.351 - - 99.469.435.351
Machinery and Equipment 61.079.964.009 - - 61.079.964.009
Office Equipment 6.051.446.692 8.675.000 - 6.060.121.692
Vehicles 8.031.796.185 - 145.000.000 7.886.796.185
Right-of-use assets
Buildings - - - -
Total Acquisition Costs 243.441.973.457 8.675.000 145.000.000 243.305.648.457
Accumulated Depreciation
Direct Ownership
Land - - - -
Building and Infrastructure 68.232.783.890 1.097.609.466 - 69.330.393.356
Machinery and Equipment 45.102.330.936 142.116.850 - 45.244.447.786
Office Equipment 5.233.265.518 13.979.707 - 5.247.245.225
Vehicles 4.797.191.138 50.796.258 145.000.000 4.702.987.396
Right-of-use assets
Buildings 0 207.692.310 - 207.692.310
Total Accumulated Depreciation 123.365.571.482 1.512.194.591 145.000.000 124.732.766.073
Net Book Value 120.076.401.975 118.572.882.383
2025
Beginning Addittions Deductions Ending
Balance Balance
Acquisition Costs
Direct Ownership
Land 68.809.331.220 - - 68.809.331.220
Building and Infrastructure 99.469.435.351 - - 99.469.435.351
Machinery and Equipment 63.903.943.928 355.550.000 3.179.529.919 61.079.964.009
Office Equipment 6.990.314.522 159.284.870 1.098.152.700 6.051.446.692
Vehicles 8.919.704.293 - 887.908.108 8.031.796.185
Right-of-use assets
Buildings 600.000.000 - 600.000.000 -
Total Acquisition Costs 248.692.729.314 514.834.870 5.765.590.727 243.441.973.457
Accumulated Depreciation
Direct Ownership
Land - - - -
Building and Infrastructure 64.048.864.418 4.183.919.472 - 68.232.783.890
Machinery and Equipment 47.763.661.636 507.411.297 3.168.741.997 45.102.330.936
Office Equipment 6.215.525.138 115.893.080 1.098.152.700 5.233.265.518
Vehicles 5.210.959.712 430.817.110 844.585.684 4.797.191.138
Right-of-use assets
Buildings 346.153.845 253.846.155 600.000.000 -
Total Accumulated Depreciation 123.585.164.749 5.491.887.114 5.711.480.381 123.365.571.482
Net Book Value 125.107.564.565 120.076.401.975
Page 32
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
Depreciation Expense Allocation
The depreciation expense of fixed assets charged to operations is as follows :
Ending Period on the date
March 31, 2026 December 31, 2025
General and administration expenses
and other operating expenses 795.510.896 5.466.384.414
Cost of goods sold 578.860.259 25.502.700
Total 1.374.371.155 5.491.887.114
As March 31, 2026 and December 31, 2025, fixed assets, except land, have been insured against the risk of loss from fire and other risks to
PT Asuransi Central Asia, PT Asuransi Adira Dinamika and PT Asuransi Sompo Indonesia which in management's opinion is sufficient
to cover possible losses from such risks.
Land Rights
The Company and its subsidiaries have Building Use Rights over several plots of land in various locations for periods ranging from 20
years to 30 years. These rights will expire on various dates ranging from 2020 to 2037. The Company's management and subsidiaries
believe that the Building Use Rights can be extended when the validity period expires.
Insurance on Fixed Assets
As of March 31, 2026 and December 31, 2025, fixed assets except land, have been insured against the risk of loss of value due to fire and
other risks to PT. Asuransi Central Asia and PT. Asuransi Sompo Indonesia with a total insured value of Rp89.554.355.992 on March 31,
2026 and December 31, 2025.
Based on management's considerations, there were no events or changes in circumstances that indicated a decrease in the value of fixed
assets as of March 31, 2026 and December 31, 2025.
10. TAX REFUNDS AND DEFERRED TAX ASSETS
Statement from Standar Akuntansi Keuangan (PSAK) 46 indicates a differentiation between current tax refunds and deferred tax
assets. Current tax assets in the form of tax bills for current period income tax consist of:
2026 2025
Value Added Tax 1.870.626.340 -
Income Tax
Article 22 10.025.211 -
Article 25 922.047.404 922.047.404
Total 2.802.698.955 922.047.404
While deferred tax assets are the amount of income tax recoverable in the future period as a result of the time difference that may be
deducted and the remaining compensation for losses. The deferred tax assets of the Company and Subsidiaries amounted to Rp 0,-
for the period March 31, 2026 and December 31, 2025.
Page 33
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
11. TRADE PAYABLES
Trade payables mainly arise from the purchase of raw materials, auxiliary materials and other materials, as well as the use of
services required for the operations of the Company and its subsidiaries. As of March 31, 2026 and December 31, 2025
All trade payables are to third parties in Rupiah currency.
2026 2025
Total 3.723.973.377 9.032.467.084
12. ACCRUED EXPENSES
Salary 17.719.770.013 20.546.236.060
Professional Services - 943.918.440
Others 1.144.947.248 22.424.308
Total 18.864.717.261 21.512.578.808
13. TAXES PAYABLE
Statement from Standar Akuntansi Keuangan (PSAK) 46 suggests a differentiation between current tax liability and deferred tax
liability. Current tax liablity which is in the form of tax liability on current period income tax consisting of:
2026 2025
Value Added Tax 434.914.768 -
Income Taxes :
Article 21 64.841.854 629.641.079
Article 22 8.125.882 19.905.777
Article 23 3.426.634 2.873.634
Article 26 5.425.228 5.425.228
Article 4(2) Final 32.400.000 -
Total 549.134.366 657.845.718
Page 34
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
14. EMPLOYEE BENEFIT LIABILITY
As of March 31, 2026 and December 31, 2025, employee benefits liabilities amounting to Rp20.937.589.713,- and Rp20.947.589.713,- are
presented as an account "Employee Benefit Liability".
15. SHARE CAPITAL
As of March 31, 2026, details of the Company's share ownership with a nominal value of Rp175,- per share, are as follows:
Share Capital
Authorized, issued Percentage
Share Holder and fully paid Ownership Total
PT. Prasidha 676.830.145 47,00 118.445.275.375
Igianto Joe 272.378.790 18,92 47.666.288.250
PT. Aneka Bumi Prasidha 136.500.000 9,48 23.887.500.000
PT. Aneka Agroprasidha 114.000.000 7,92 19.950.000.000
Agus Soegiarto 65.984.333 4,58 11.547.258.275
Public 174.306.732 12,10 30.503.678.100
Total 1.440.000.000 100,00 252.000.000.000
As of December 31, 2025, details of the Company's share ownership with a nominal value of Rp175,- per share, are as follows:
Share Capital
Authorized, issued Percentage
Share Holder and fully paid Ownership Total
PT. Prasidha 676.830.145 47,00 118.445.275.375
Igianto Joe 272.378.790 18,92 47.666.288.250
PT Aneka Bumi Prasidha 136.500.000 9,48 23.887.500.000
PT. Aneka Agroprasidha 114.000.000 7,92 19.950.000.000
Agus Soegiarto 65.984.333 4,58 11.547.258.275
Public 174.306.732 12,10 30.503.678.100
Total 1.440.000.000 100,00 252.000.000.000
Page 35
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF FINANCIAL POSITION
March 31, 2026 (Unaudited) and December 31, 2025
(Expressed in Rupiah, unless otherwise stated)
Capital Management
The primary objective of capital management of the Company and its subsidiaries is to ensure the maintenance of healthy capital ratios to
support the business and maximize returns to shareholders.
The Company and certain subsidiaries are required to maintain certain levels of capital under loan agreements. These external capital
requirements were met by the related entities for the years ended March 31, 2026, and December 31, 2025. In addition, the Company and its
subsidiaries are also required by Undang-undang Perseroan effective August 16, 2007 to contribute up to 20% of the issued and fully paid
share capital into a non-distributable reserve fund. These external capital requirements will be considered by the Company and its
subsidiaries in the next General Meeting of Shareholders (“RUPS”).
The Company and its subsidiaries manage their capital structure and make adjustments based on changing economic conditions. To
maintain and adjust the capital structure, the Company and its subsidiaries may adjust dividend payments to shareholders, capital returns
to shareholders or issue new shares. There are no changes to the objectives, policies or processes for the years ended March 31, 2026, and
December 31, 2025.
The Company and its subsidiaries monitor capital using a gearing ratio, by dividing net debt by total capital. The policy of the Company
and its subsidiaries is to maintain leverage ratios within the range of leading companies in similar industries in Indonesia to secure access to
funding at a rational cost. The Company and its subsidiaries include short-term bank loans and long-term bank loans minus cash and cash
equivalents. Included in capital is share capital, equity attributable to owners of the parent entity.
The primary objective of capital management of the Company and its subsidiaries is to ensure the maintenance of a healthy capital ratio,
namely a debt to equity ratio of 1,5 times, to support the business and maximize returns to shareholders. As of March 31, 2026, and
December 31, 2025, the debt to equity ratio of the Company and its subsidiaries is as follows :
March 31, 2026 Desember 31, 2025
Total Liabilities 120.736.408.555 119.154.194.672
Minus : Cash and cash in banks 3.923.092.035 6.523.024.716
Loans - net 116.813.316.520 112.631.169.956
Total Equity 13.874.490.514 20.327.486.502
Debt to Equity Ratio 8,42 5,54
Page 36
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
NAMA AKUN 2026 2025
16. NET SALES
2026 2025
Net sales consist of :
Commodities
Local
Coffee 4.010.084.400 1.438.218.600
Total Net Sales 4.010.084.400 1.438.218.600
There are sales to PT. Aneka Coffee Industry Rp4.010.084.400,- as of March 31, 2026 and to PT. Intra Niaga
Mulya Rp1.438.218.600,- as of March 31, 2025,that equivalent to 10% or more from total sales.
17. COST OF GOODS SOLD
2026 2025
Cost of goods sold consists of :
COFFEE
Initial inventory 174.864.337 396.823.776
Purchases 3.250.352.600 1.670.724.200
Production cost 259.577.283 220.001.593
Available for sale 3.684.794.220 2.287.549.569
Ending inventory (177.578.940) (926.902.553)
Cost of goods sold 3.507.215.280 1.360.647.016
Total Cost of Goods Sold 3.507.215.280 1.360.647.016
There are no purchases from parties that reach 10% or more of the total purchases in 2026 and 2025.
Page 37
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
18. PRODUCTION COST
Production cost is one component of the cost of goods sold. This cost consist of direct labor, auxiliary
materials and indirect production costs. Production cost consist of:
2026 2025
Direct Labor
Salary and Wages - 373.655
- 373.655
Indirect Production Costs
Salary and Wages 365.117.000 367.291.516
Overtime 750.000 342.000
Premiums, THR, Bonuses & Severance Pay 64.272.464 73.250.000
Employee Meals 10.973.000 9.576.000
Fuel & Lubricants 20.444.894 3.575.767
Small Tools & Work Equipment 4.093.745 4.168.453
Electricity 142.172.352 123.892.284
Building Maintenance Repairment - 180.462
Large Equipment Maintenance Repairment - 1.154.400
Machine Maintenance and Installation Repairment 1.425.000 1.798.627
Vehicle Maintenance Repairment - 9.133.543
Building Depreciation 436.669.344 724.781.357
Large Equipment Depreciation 55.019.555 27.138.537
Machinery, Installation and Equipment Depreciation 87.097.295 179.023.964
Vehicle Depreciation - 3.465.661
Office Inventory Depreciation 74.065 14.839.384
Fixed Assets Insurance - 107.777.788
Management & Licensing - 17.040.000
Security & Cleaning Service 23.511.000 32.247.000
1.211.619.714 1.700.676.743
Total 1.211.619.714 1.701.050.398
Reclass to General and Administrative Expenses 952.042.434 1.481.048.805
Total 259.577.280 220.001.593
19. OPERATING EXPENSES
Operating expenses consist of :
Sales Expense :
Local Sales
Wages for Transport & Unloading Workers - 491.700
Transportation 55.891.150 61.345.800
Other Sales Expense - 699.610
Total 55.891.150 62.537.110
Page 38
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
General and Administrative Expenses
Salary and Wages 1.251.043.509 2.114.650.000
Overtime 63.004.014 107.778.013
Premiums, THR, Bonuses & Severance Pay 692.182.000 385.857.000
Employee Meals 165.005.140 178.823.340
Medication 124.142.976 109.578.524
Housing - -
Fuel, Parking/ City Transport 111.057.669 125.605.712
Employee Income Tax and Labor Insurance 205.129.520 161.259.013
Employee Insurance 37.837.251 42.312.360
Office Supplies 12.473.191 30.182.671
Small Tools & Work Equipment 798.452 864.000
Electricity 33.147.457 35.300.676
PDAM Water 13.108.504 6.206.052
Telephone/ Telegram/ Telex/ Post 38.871.381 45.244.410
Daily Magazine & Monthly Fees 116.292.500 78.905.000
Advertisement and General Meeting - 6.000.000
Land/ Road Maintenance Repairment - -
Building Maintenance Repairment 5.742.000 12.705.500
Vehicle Maintenance Repairment 60.715.719 78.921.664
Office Inventory Maintenance Repairment 56.791.500 7.125.000
Mess Inventory Maintenance Repairment - 785.000
Building Depreciation - 69.230.769
Vehicle Depreciation 120.619.097 53.561.671
Office Inventory Depreciation 13.930.776 27.934.564
Mess Inventory Depreciation 20.904 6.969
Fixed Asset Lease 274.939.200 4.939.200
Fixed Asset Insurance 125.053.602 1.769.503
Travel & Accomodation 9.553.196 8.440.549
Entertainment 598.500 1.154.200
Legal, Consultant, and Audit 170.270.000 89.152.800
Management & Licensing 20.747.482 85.690.000
Donations & Representations 10.475.000 31.275.000
Bank Administration Fee 3.737.846 4.200.721
Production Cost Reclassification 952.042.434 1.481.048.805
Other General and Administrative Expenses 1.715.330.001 24.964.500
Total 6.412.160.821 5.411.473.186
Total Operating Cost 6.468.051.971 5.474.010.296
20. OTHER OPERATING COST
Details of other operating expenses are as follows :
Others 669.365.819 418.498.401
Total 669.365.819 418.498.401
Page 39
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
21. OTHER OPERATING INCOME
Details of other operating income are as follows :
Gain on Foreign Exchange, net 262.266 585.615
Rent Income 18.116.100 -
Gain on Disposal of Fixed Assets 88.000.000 467.055.002
Others 72.230.453 -
Total 178.608.819 467.640.617
22. FINANCIAL INCOME
2026 2025
This account represents interest income from :
Current Deposit 2.943.862 1.912.977
Total Financial Income 2.943.862 1.912.977
23. SEGMENT REPORTING
The reporting of the Company's and Subsidiaries' business segments is as follows :
a. Business Fields and Geographic Areas
Business Fields Company's Name
Processing and trading PT Prasidha Aneka Niaga Tbk (Perusahaan)
agricultural commodity PT Aneka Bumi Kencana
PT Tirtha Harapan Bali
Geographic Areas Company's Name
Sumatra PT Prasidha Aneka Niaga Tbk (Perusahaan)
Java PT Aneka Bumi Kencana
Bali PT Tirtha Harapan Bali
Page 40
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
23. SEGMENT REPORTING
b. Primary Segment Reporting - Business Segments (in million Rupiah)
Processing and Coffee Factory
Trading Ground and
Agriculture Commodity Instant Elimination Consolidated
Information 2026 2025 2026 2025 2026 2025 2026 2025
INCOME
Sales to
external parties 4.010 1.438 - - - - 4.010 1.438
Loss from operations (6.456) (5.278) - - - - (6.456) (5.278)
Financial Income 3 2 - - - - 3 2
Equity in net earnings
of investee, net (2.375) (43) - - 2.375 43 - -
Non-controlling
Interest - - - - - - - -
Net loss (8.828) (5.319) - - 2.375 43 (6.453) (5.276)
Page 41
PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
24. ASSETS AND LIABILITIES IN FOREIGN CURRENCY
The assets and liabilities of the Company and Subsidiaries in foreign currencies as of March 31, 2026 are
presented in Rupiah using the exchange rates prevailing on that date as described in Notes 2o:
Value in Equivalent to
Account Foreign Currency Rupiah
Assets :
Current Assets US$ 1.235 20.988.394
Total Assets 20.988.394
Liabilities :
Short-term Liability US$ - -
Long-term Liability US$ - -
Total Liabilities -
Net Assets in Foreign Currency equivalent
to Rupiah as of March 31, 2026 20.988.394
Meanwhile, the assets and liabilities of the Company and its Subsidiaries in foreign currencies as of March 31,
2025 are presented in Rupiah using the exchange rate in effect on that date as explained in Notes 2o:
Value in Equivalent to
Account Foreign Currency Rupiah
Assets :
Current Assets US$ 1.358 22.519.167
Total Assets 22.519.167
Liabilities :
Short-term Liability US$ - -
Long-term Liability US$ - -
Total Liabilities -
Net Assets in Foreign Currency equivalent
to Rupiah as of March 31, 2025 22.519.167
Page 42
25. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The main risks of the Company and its subsidiaries' financial instruments are liquidity risk, commodity price risk, credit risk,
currency risk and market risk. The Board of Directors reviews and approves policies for managing each of these risks, which are
explained in more detail as follows :
Liquidity Risk
In carrying out its business operations, the Company and its subsidiaries require financing liquidity for the procurement of raw
materials, inventory of goods in process and inventory of finished goods. The amount of financing liquidity required is highly
dependent on the commodity price level. To address liquidity needs, the Company and its subsidiaries, in addition to utilizing
their own working capital, also obtain working capital financing support from banking creditors.
The Company and its subsidiaries' interest rate risk arises primarily from loans for working capital and investment. Borrowings at
various interest rates give rise to fair value interest rate risk to the Company and its subsidiaries. There are no loans from the
Company and its subsidiaries that are subject to fixed interest rates.
Currently, the Company and its subsidiaries do not have a formal policy of hedging interest rate risk. For working capital loans,
the Company and its subsidiaries may seek to mitigate interest rate risk by transferring it to customers.
The following table presents the maturity profile of the Company and its subsidiaries' financial liabilities based on undiscounted
contractual payments as of March 31, 2026 and December 31, 2025 :
March 31, 2026
Under 1 year to 5 years >5 years Total
1 year
Trade payables 3.723.973.377 - - 3.723.973.377
Other payables 65.162.893.840 - - 65.162.893.840
Accrued expenses 18.864.717.260 - - 18.864.717.260
Total 87.751.584.477 - - 87.751.584.477
December 31, 2025
Under 1 year to 5 years >5 years Total
1 year
Trade payables 9.032.467.084 - - 9.032.467.084
Other payables 66.203.713.349 - - 66.203.713.349
Accrued expenses 21.512.578.808 - - 21.512.578.808
Total 96.748.759.241 - - 96.748.759.241
Commodity Price Risk
The main business activities of The Company and its subsidiaries are processing crumb rubber derived from slab raw materials
and processing instant coffee and ground coffee, which uses coffee beans as the main raw material. The risks faced by The
Company and its subsidiaries include fluctuations in rubber and coffee prices and the availability of raw materials for slabs and
coffee.
To overcome the risk of price fluctuations, management carries out its business operations wisely and carefully in purchasing raw
materials and selling finished goods by implementing purchasing and sales strategies, including those referring to SICOM
(Singapore Commodity Exchange). As for the risk, the supply of raw materials can be minimized because the factory is located in
South Sumatra, which is the largest rubber production center in Indonesia. Furthermore, management also implements a wise
business policy by maintaining a minimum stock of coffee beans for several months of production and entering into commodity
futures contracts, if necessary.
Page 43
Credit Risk Credit risk is the risk that one party to a financial instrument or customer contract will fail to fulfill its obligations and cause the other party to suffer a financial loss. The Company's objective is to seek sustainable revenue growth and minimize losses incurred due to increased exposure to credit risk. The Company only conducts transactions with third parties that have a good reputation and credibility. It is The Company's policy that all customers who wish to make transactions on credit must go through a credit verification procedure. In addition, accounts receivable balances are monitored continuously with the aim that The Company's exposure to uncollectible accounts receivable is not significant. Cash on hand and in banks are placed with reputable and credible financial institutions. The maximum exposure to credit risk is the carrying amount of each class of financial assets in the consolidated statement of financial position. The Company has no guarantees received in relation to this risk. The Company's financial assets are categorized based on The Company's experience in collecting these financial assets from related parties and third parties as follows: (i) Advance Level High-level assets include deposits with parties or banks with good ratings. For receivables, as of the consolidated financial statement date, this includes customer accounts that pay on time, are in good credit standing, and have no history of handling accounts for a given period. The settlement is obtained from the debtor according to the contract without much collection effort. (ii) Standard Level Standard level receivables include accounts of customers who pay on a standard basis, whose payments are within the credit period, and new customers whose credit history is not yet sufficient to establish. Several reminders are made to obtain a settlement from the debtor. (iii) Sub-standard Level Substandard levels of receivables include customer accounts with late payments and payments for which are received upon request at the reporting date. There is an increased effort by The Company to collect these balances. (iv) Was Dued But Not Depreciating Past due but not impaired receivables arise when the payable party fails to make a payment when the contract is due. However, The Company remains confident that this balance will be collected. (v) Depreciating Substandard levels of receivables include customer accounts with late payments and payments for which are received upon request at the reporting date. There is an increased effort by The Company to collect these balances. Banks and Time Deposits Credit risk on current account and deposit placements is managed by management in accordance with the policies of The Company and its subsidiaries. Investment of excess funds is limited for each bank and this policy is evaluated annually by the board of directors. The limit is set to minimize the risk of credit concentration, thereby reducing the possibility of losses due to the bankruptcy of these banks. Account Receivables The Company and its subsidiaries export crumb rubber and coffee products, as well as sell coffee locally. To date, there have been no issues or delays in payments from buyers, as The Company and its subsidiaries are highly selective in establishing trade relationships with buyers with a highly credible and trustworthy track record. There is a policy to ensure that product sales are made only to trustworthy customers with a good track record or credit history. It is the policy of The Company and its subsidiaries that all customers making purchases on credit must undergo a credit verification procedure. The Company and its subsidiaries consider credit risk if the receivables are more than 60 days old from the date of invoice issuance, except for real estate receivables. In addition, receivables balances are monitored continuously to reduce the possibility of uncollectible receivables.
Page 44
When a customer is unable to make a payment within the given time period, the Company and its subsidiaries will contact the customer to follow up on past due receivables. If customers do not pay off their receivables that are due within the specified time period, the Company and its subsidiaries will reconfirm the customers' commitments. Depending on the Company's assessment, special provisions may be made if debts are deemed uncollectible to mitigate credit risk. In relation to credit risk arising from other financial assets, which consist of cash and cash equivalents, the impact of the Company and its subsidiaries' credit risk arises from the failure of other parties to settle their obligations. The maximum impact arising from the Company and its subsidiaries' financial assets is equal to the carrying amount. Currency Risk The Company conducts business transactions in several foreign currencies and is therefore exposed to foreign currency risk. The Company does not have a foreign currency hedging policy. However, management monitors its foreign currency exposure and will consider the need to hedge significant foreign currency exchange risks. Market Risk Market risk is the risk that the fair value of future cash flows on a financial instrument will fluctuate due to changes in market prices. The Company is exposed to market risk, namely interest rate risk. Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The impact of the risk of changes in market interest rates related to short-term and long-term loans of The Company closely monitors fluctuations in market interest rates and market expectations so that it can take the most profitable steps for The Company in a timely manner. The Company's interest rate risk arises primarily from loans for working capital. Loans at varying interest rates pose interest rate risk to The Company on fair value. None of The Company's loans bear fixed interest rates. Currently, The Company does not have a formal policy for hedging interest rate risk. For working capital loans, The Company may attempt to mitigate interest rate risk by transferring it to its customers.
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PT PRASIDHA ANEKA NIAGA Tbk AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
For Period That Ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited)
(Expressed in Rupiah, unless otherwise stated)
26. ISSUANCE OF THE NEW AMENDMENTS AND ADJUSTMENTS PSAK
DSAK-IAI has issued new amendments and adjustments PSAK which will be effective for financial statements
for the fiscal year period beginning on or after the following date:
(a) January 1, 2022
- Amendement PSAK No. 22: Business Combinations with Reference to the Conceptual Framework
- Amendement PSAK No. 57: Provisions, Liabilities, Contingencies, and Assets Contingencies Regarding
Onerous
Contracts, and Cost of Fulfilling The Contract
- PSAK No. 69: Agriculture (Yearly Adjustment in 2020)
- PSAK No. 71: Financial Instrument (Yearly Adjustment in 2020)
- PSAK No. 73: Lease (Yearly Adjustment in 2020)
(b) Januari 1, 2023
- Amendement PSAK No. 1: Presentation of Financial Statements Related to Disclosure of Accounting Policies
- Amandement PSAK No. 16: Fixed Assets at Yield Before Intended Use
- Amandement PSAK No. 25: Accounting Policies, Changes in Accounting Estimates, and Errors Related to
Definitions of Estimation
- Amendement PSAK No. 46: Income Tax on Deferred Taxes Related to Assets and Liabilities That Arise
From a Single Transaction
(c) Januari 1, 2025
- PSAK No. 74: Insurance Contract
- Amendement PSAK No. 74: Insurance Contract on Initial Application PSAK No. 74 and
PSAK No. 71 - Comparative Information
The Company is still evaluating the impact of the new PSAK amendments and adjustments mentioned above
and has not been able to determine the impact arising in relation to this matter on the consolidated financial
statements as a whole.
Names mentioned 35 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Aneka Bumi Asih
p.7
unresolved
person
Christina Dwi Utami
p.7
unresolved
org
Minister of Laws and Human Rights
p.7
unresolved
org
BAPEPAM
p.7
unresolved
org
Indonesia Stock Exchange
p.7 ×2
unresolved
org
PT Aneka Bumi Kencana
p.7 ×2
unresolved
org
PT Tirtha Harapan Bali
p.7 ×2
unresolved
org
PT. Aneka Bumi Kencana Based
p.8
unresolved
person
Liliana Arif Gondoutomo
p.8
unresolved
org
PT. Tirtha Harapan Bali Based
p.8
unresolved
person
Leolin Jayayanti
p.8
unresolved
org
BAPEPAM-LK
p.10 ×4
unresolved
org
PT Bank Artha Graha
p.28
unresolved
org
PT Sarana Aceh Ventura
p.30 ×2
unresolved
org
PT Asuransi Adira Dinamika
p.32
unresolved
org
PT Asuransi Sompo Indonesia
p.32 ×2
unresolved
org
PT. Aneka Bumi Prasidha
p.34 ×2
unresolved
org
PT. Aneka Agroprasidha
p.34 ×2
unresolved
org
PT. Aneka Coffee Industry Rp
p.36
unresolved
org
PT. Intra Niaga Mulya Rp
p.36
unresolved
org
Bank Administration Fee
p.38
unresolved
org
PT Tirtha Harapan Bali Geographic Areas
p.39
unresolved
org
PT Aneka Bumi Kencana Bali
p.39
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