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PT OORJA INDO KOS IIt.lA}lCIAT SIAII[iI}IIS

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Table of contents
Director's statement letter
Independent auditor's report
1 Statement of financial position
3 Statement of profit or loss and other comprehensive income
4 Statement of changes in equity (capital deficiency)
5 Statement of cash flows
7 Notes to financial statements

m oRJA
DTRECIORS' STATEMENT
ON IHE RESPONSIBITITY FOR THE FINANCIAL STATEMENIS
FOR IHE YEAR ENDED MARCH 31,2017
PT OORJA INDO KGS
l, lhe undersigned below, :
Nome Joysongker
* MenorQ Primo t Sth floor, units A and B, Jl Lingkar
" offi." Address
Mego Kuningqn Efok 86.2, kc,wciso/n Mego Kuningon'
Eost Kuningon, Setiobudi, Jokorto
Residentiql Address (in. Jl.Unlung Suropoti RT OO9. Deso Jone' Kec' Tqnoh
occordonce with indentitY cord) Grogot, Kob. Poser, Kolimonton Timur
Telephone No. +62813 6232 1079
Title Director
declore thol :
finonciol stotemenls for

l. we ore responsible for the preporotion ond presenlotion of the compony's
the yeor ended Morch 3l ,201,7.
2.TheCompony,sflnonciolstotementshovebeenpreporedondpresentedinoccordoncewith
generolly occepted occounting principles opplied in lndonesio'
finonciol.stolements' ond the
3. All informotion hos been fully ond correctly disclosed in the Compony's
compony's finonciol stotements do not contoin moteriolly misleoding informotion or focts' ond do
not conceol ony informotion or focts
4. I om responsible for lhe Compony's internol control system'
This stotement hos been mode truthfully.
,l0,2017
Jokorto, MoY
PT OORJA INDO KGS

Kawasan Mega Kuningan Menara Prima, 15th Floor Unit A & B
Jl. Lingkar Meg" Ko.ti.rgan No. 6.2Jaka*a Selatan lZg5O,Indonesia
Telp z +62,21 5?948028 Fax t +62'21 57948029
JUSTINUS
AS A SIDI]ARTA
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INDEPENDENI AUDITOR'S REPORI

NO. OPN/O|KGS/MAR', 17 I 1 50
!.*
Oplnlon
ln our opinion, the occomponying finonciol stolements presenl foirly, in oll moteriol respecls, lhe finonciol
position of PI Oorfo lndo KGS gs of ,ulqrch El,2017, ond thek finonciol performonce ond cosh flows for
Jusllnus A. Sldhqils, CPA

Public Accounlont Licence no. AP.0944
Moy 8, 2017
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PT OORJA INDO KGS
STATEMENT OF FINANCIAL POSITION
As of March 31, 2017
(Expressed in United States dollar)
ASSETS
CURRENT ASSETS
Cash on hand and in banks 2,4 16,888 498,598
Other receivables
Related parties 2,6 - 199,970
Third parties 6 240,522 285,296
Due from related parties 2,7 119,687 625,073
Prepaid expense 2 1,836 -
Prepaid tax 2,8 - 148,328
TOTAL CURRENT ASSETS 378,933 1,757,265
NON-CURRENT ASSETS
Advance for purchase in property 2,9 - 5,322,126
Fixed assets - net 2,10 815,173 934,244
Tax amnesty asset
Cost 336 -
Accumulated depreciation (336) -
Other asset
Security deposits - 2,419
TOTAL NON-CURRENT ASSETS 815,173 6,258,789
TOTAL ASSETS 1,194,106 8,016,054
LIABILITIES AND EQUITY (CAPITAL DEFICIENCY)
CURRENT LIABILITIES
Due to related party 2,11 1,379,465 7,672,451
Accrued expenses - 196,228
Taxes payable 2,8 - 8,784
TOTAL CURRENT LIABILITIES 1,379,465 7,877,463
TOTAL LIABILITIES 1,379,465 7,877,463

CAPITAL DEFICIENCY
Equity attributable to owners of the entity
Capital stock - par value of US$ 250 per share
The accompanying notes to the financial statements form an integral part of these financial statements
taken as a whole.
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PT OORJA INDO KGS
STATEMENT OF FINANCIAL POSITION (continued)
As of March 31, 2017
March 31,
Notes 2017 2016
CAPITAL DEFICIENCY
Equity attributable to owners of the entity
Capital stock - par value of US$ 250 per share
Authorized - 4,000 shares
Subscribe and fully paid - 1,160 shares
as of March 31, 2017 and 1,000 shares as of
March 31, 2016 12 290,000 250,000
Deficit (475,359) (111,409)
TOTAL EQUITY (CAPITAL DEFICIENCY) (185,359) 138,591
TOTAL LIABILITIES AND EQUITY (CAPITAL DEFICIENCY) 1,194,106 8,016,054
taken as a whole.
2
PT OORJA INDO KGS
STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
For the year ended March 31, 2017
Year ended March 31,

Notes 2017 2016
SALES 2,13 - 8,226,860
COST OF GOOD SOLD 2,13 - (6,809,283)
GROSS PROFIT - 1,417,578
Gain (loss) on foreign exchange - net 5,632 (140,369)

Gain on sale of fixed assets - 90,849
Selling expenses 2,14 - (1,135,934)
General and administrative expenses 2,15 (337,775) (1,782,610)
Other income (loss) - net (31,807) (447,792)
LOSS FROM OPERATIONS (363,950) (1,998,278)
Finance cost - -
LOSS BEFORE INCOME TAX (363,950) (1,998,278)
INCOME TAX EXPENSE

Current 2 - -
Deferred 2 - (113,402)
INCOME (LOSS) FOR THE YEAR (363,950) (2,111,680)
OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE LOSS

FOR THE YEAR (363,950) (2,111,680)
taken as a whole.
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PT OORJA INDO KGS
STATEMENT OF CHANGES IN EQUITY (CAPITAL DEFICIENCY)
Capital stock - Total

issued and equity (capital)
fully paid Deficit deficiency
Balance as of April 1, 2015 250,000 2,000,271 2,250,271
Loss for the year - (2,111,680) (2,111,680)

Other comprehensive income - - -
Balance as of March 31, 2016 250,000 (111,409) 138,591
Paid in capital 40,000 - 40,000

Loss for the year - (363,950) (363,950)
Other comprehensive income - - -
Balance as of March 31, 2017 290,000 (475,359) (185,359)
The accompanying notes to the financial statements form an integral part of these financial statements taken
as a whole.
4
PT OORJA INDO KGS
STATEMENT OF CASH FLOWS
Year ended December 31,

2017 2016
CASH FLOW FROM OPERATING ACTIVITIES

Loss before income tax (363,950) (1,998,279)
Adjustment to reconcile loss before income tax

to net cash provided by (used in) operating
activities
Taxes 223,794 -
Depreciation of fixed assets 119,071 213,795
Depreciation of tax amnesty asset 336 -
Gain on sale of fixed assets - (90,849)
Gain on recognition of tax amnesty asset (336) -
Increase (decrease) in
Accounts receivable 44,774 1,355,696
Inventories - 427,622
Prepayments (1,836) 4,059,631
Other assets 2,419 42,986
Accounts payable - (393,038)
Accrued expenses (196,227) (71,140)
Taxes payable (84,251) (23,576)
Cash provided by (used in) operating activities (256,206) 3,522,848
Payment of employee benefits - (57,521)
Net cash provided by (used in) operating activities (256,206) 3,465,327
CASH FLOW FROM INVESTING ACTIVITIES

Proceeds from sale of fixed asset - 479,674
Advance for purchase of fixed asset 5,322,126 53,545
Net cash provided by investing activities 5,322,126 533,219
as a whole.
5
PT OORJA INDO KGS
STATEMENT OF CASH FLOWS (continued)
Year ended December 31,

2017 2016
CASH FLOW FROM FINANCING ACTIVITIES

Increase (decrease) in due from related parties 705,356 (825,043)
Additional paid in capital 40,000 -
Decrease in purchase of fixed assets payable - (45,760)
Decrese in bank loan - (2,500,000)
Decrease in due to related parties (6,292,986) (990,204)
Net cash used in financing activities (5,547,630) (4,361,007)
DECREASE IN NET CASH ON HAND AND IN BANKS (481,710) (362,461)
CASH ON HAND AND IN BANKS, AT BEGINNING

OF YEAR 498,598 861,059
CASH ON HAND AND IN BANKS, AT END OF YEAR 16,888 498,598
as a whole.
6
PT OORJA INDO KGS
NOTES TO THE FINANCIAL STATEMENTS
As of March 31, 2017 and for the year then ended
(Expressed in United States dollar, unless otherwise stated)
1. GENERAL
a. The Company’s establishment
PT Oorja Indo KGS (“the Company”) was established based on notarial deed no. 8 of public
notary Sri Irmiati, SH, dated February 20, 2008. The deed of establishment was approved by the
Minister of Law and Human Rights of the Republic of Indonesia in decision letter no. AHU-
17598.AH.01.01.Tahun 2008 dated April 9, 2008, and was published in the State Gazette No. 40
dated May 16, 2008, supplement No. 6493 Year 2008.
The Company’s articles of association have been amended several times, most recently by
notarial deed no. 24 of public notary Suparman Hasyim, SH, dated February 24, 2017 concerning
the changes of the Company’s subscribed and fully paid capital and stockholders. The changes
have been accepted by the Minister of Law and Human Rights of the Republic of Indonesia in
acceptance letter no. AHU-AH.01.03-0090288 and AHU-AH.01.03-0090299 dated February 27,
2017.
The Company’s scope of activities is coal trading since May 2009.
As of March 31, 2016, the Company had sold all of its fixed assets except apartment in
Pakubuwono, and all of its employees had been terminated. Therefore, since then the Company
has no more business activity.
The Company is domiciled in Menara Prima, 15th floor, units A and B, Jalan Lingkar Mega
Kuningan Blok B6.2, Kawasan Mega Kuningan, East Kuningan, Setiabudi, Jakarta.
The Company belongs to a group of companies owned by Mercator Limited (the Group), a
group listed in the National Stock Exchange and Bombay Stock Exchange, India.
b. The boards of commissioner and director and employees
The composition of the Company’s boards of commissioner and director as of March 31, 2017 and
2016 is as follows :
March 31
2017 2016
Board of commissioner
Commissioner : Kala Wili Dewi Atul Agarwal
Board of director
Director : Jaysangker Kirtipal Singh Raheja
The Company’s management is responsible for the preparation of the accompanying financial
statements that were completed and authorized to be issued on May 10, 2017.
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PT OORJA INDO KGS
NOTES TO THE FINANCIAL STATEMENTS
7
PT OORJA INDO KGS
NOTES TO THE FINANCIAL STATEMENTS (continued)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
a. Basis of preparation of the financial statements
The financial statements have been prepared in accordance with Statements of Financial
Accounting Standards (“PSAK”) in Indonesia, which issued by the Financial Accounting Standards
Board of the Indonesian Institute of Accountants (“DSAK”).
The financial statements have been prepared on the accrual basis using the historical cost
concept, except for certain accounts which are measured on the bases as described in the
following notes to the financial statements.
The statement of cash flows presents cash flows classified into operating, investing and financing
activities. The cash flows from operating activities are presented using the indirect method.
The accounting policies adopted in the preparation of the financial statements are consistent with
those applied in the preparation of the Company’s financial statements for the year ended March
31, 2016.
The reporting currency used in the financial statements is the United States dollar (“US$”), which is
also the Company’s functional currency.
b. Foreign currency transactions and balances
The Company considers the primary indicators and other indicators in determining its functional
currency. If indicators are mixed and the functional currency is not obvious, management uses its
judgment to determine the functional currency that most faithfully represents the economic
effects of the underlying transactions, events and conditions.
Transactions involving foreign currencies are recorded at the rates of exchange prevailing at the
time the transactions are made. At statement of financial position date, monetary assets and
liabilities denominated in foreign currencies are adjusted to reflect the last prevailing rates as of
such date and the resulting gains or losses are credited or charged to current operations.
The rate of exchange used was as follows :
March 31,
2017 2016
1 Indonesian Rupiah (Rp) 1/13,321 1/13,276
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PT OORJA INDO KGS
c. Transactions with related parties
A related party is a person or entity that is related to the Company.
a. A person or a close member of that person’s family is related to the Company, if that
person :
(i) has control or joint control over the Company,

(ii) has significant influence over the Company, or
(iii) is a member of the key management personnel of the Company or of a parent entity
of the Company.
b. An entity is related to the Company if any of the following conditions applies :
(i) The entity and the Company are members of the same group.
(ii) One entity is an associate or joint venture of the Company (or an associate or joint
venture of a member of a group of which the Company is a member).
(iii) Both entity and the Company are joint ventures of the same third party.
(iv) The Company is a joint venture of a third entity and the other entity is an associate of
the third entity.
(v) The entity is a post-employment benefit plan for the benefit of employees of either the
Company or an entity related to the Company.
(vi) The entity is controlled or jointly controlled by a person identified in point a.
(vii) A person identified in point a (i) has significant influence over the entity or is a member
of the key management personnel of the entity (or of a parent of the entity).
d. Prepaid expenses
Prepaid expenses are amortized over their benefical periods.
e. Fixed assets
Fixed assets are stated at cost less accumulated depreciation and impairment loss, if any. Such
cost includes the cost of replacing part of the fixed assets, if the recognition criteria are met.
Likewise, when performing regular major inspections for faults is a condition for continuing to
operate an item of fixed assets, the cost of each major inspection is recognized in the carrying
amount of the fixed assets as a replacement if the recognition criteria are satisfied. All other
repairs and maintenance costs that do not meet the recognition criteria are charged to current
operations.
Depreciation of building is calculated on the straight-line basis over the estimated useful lives of 10
years.
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PT OORJA INDO KGS
An item of 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
asset) is credited or charged to operations in the year the asset is derecognized.
The residual values, useful lives and methods of depreciation of fixed assets are reviewed and
adjusted prospectively, if appropriate, at the end of the reporting period.
f. Employee benefits
Unfunded employee benefits liability is recognized in accordance with Labor Law no. 13/2003 and
PSAK 24, “Employee Benefits”.
Pension costs are determined by periodic actuarial calculation using the projected-unit-credit
method and applying the assumptions on discount rate and annual rate of increase in
compensation.
g. Revenue and expense recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Revenue is measured at the fair value of
the consideration received, excluding value added taxes.
Revenue from sales is recognized at the time the significant risks and rewards of ownership of the
services have passed to the customers.
Expenses are recognized when they are incurred.
h. Corporate income tax
Current tax expense is provided based on the estimated taxable income for the year. Deferred tax
assets and liabilities are recognized for temporary differences between the financial and the tax
bases of assets and liabilities at each reporting date. Future tax benefits, such as tax losses carry-
forward, are also recognized to the extent that realization of such benefits is probable. The tax
effects for the year are allocated to current operations, except for the tax effects from
transactions which are directly charged or credited to equity.
Deferred tax is calculated at the tax rate that has been enacted or substantively enacted at the
statement of financial position date.
Amendment to tax obligation is recorded when an assessment letter is received or if appealed

against, when the results of the appeal are determined. The additional taxes and penalty imposed
through an assessment letter are recognized as income or expense in the current year profit or loss,
unless objection/ appeal is taken. The additional taxes and penalty imposed through an
assessment letter are deferred as long as they meet the asset recognition criteria.
10
PT OORJA INDO KGS
i. Financial instruments
i. Financial assets
Initial recognition
Financial assets are classified as financial assets at fair value through profit or loss, loans and
receivables, held-to-maturity investments and available-for-sale financial assets. The
classification of financial assets is determined at initial recognition and, where allowed and
appropriate, re-evaluates this designation at the end of each reporting period.
Financial assets are recognized initially at fair value plus, in the case of investments not at fair
value through profit or loss, directly attributable transaction costs.
Purchases or sales of financial assets that require delivery of assets within a time frame
established by regulation or convention in the marketplace (regular way purchases) are
recognized on the trade date, i.e., the date that the Company commits to purchase or sell
the assets.
Subsequent measurement
Loans and receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market. Such financial assets are carried at
amortized cost using the effective interest rate method. Gains and losses are recognized in
the profit or loss when the loans and receivables are derecognized or impaired, as well as
through the amortization process.
ii. Financial liabilities
Initial recognition
Financial liabilities are classified as financial liabilities at fair value through profit or loss,
liabilities at amortized cost, or as derivatives designated as hedging instruments in an
effective hedge, as appropriate. The classification of financial liabilities is determined at
initial recognition.
Financial liabilities are recognized initially at fair value which, in the case of liabilities at
amortized cost, is net of directly attributable transaction costs.
Subsequent measurement
After initial recognition, liabilities at amortized cost are subsequently measured at amortized
cost using the effective interest rate method.
Gains and losses are recognized in profit or loss when liabilities are derecognized as well as
through the amortization process.
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PT OORJA INDO KGS
iii. Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amount reported in the
statement of financial position if, and only if, there is a currently enforceable legal right to
offset the recognized amounts and there is an intention to settle on a net basis, or to realize
the assets and settle the liabilities simultaneously.
iv. Fair value of financial instruments
The fair value of financial instruments that are actively traded in organized financial markets
is determined by reference to quoted market bid prices at the close of business at the end
of the reporting period. For financial instruments where there is no active market, fair value is
determined using valuation techniques. Such techniques may include using recent arm’s
length market transaction, reference to the current fair value of another instrument that is
substantially the same, discounted cash flow analysis, or other valuation models.
Credit risk adjustment
The Company adjusts the price in the more observable market to reflect any differences in
counterparty credit risk between instruments traded in that market and the ones being
valued for financial asset positions. In determining the fair value of financial liability positions,
the Company’s own credit risks associated with the instruments are taken into account.
v. Amortized cost of financial instruments
Amortized cost is computed using the effective interest rate method less any allowance for
impairment and principal repayment or reduction. The calculation takes into account any
premium or discount on acquisition and includes transaction costs and fees that are an
integral part of the effective interest rate.
vi. Impairment of financial assets
The Company assesses at each statement of financial position date whether there is any
objective evidence that a financial asset or a group of financial assets is impaired.
Financial assets carried at amortized cost
For loans and receivables carried at amortized cost, the Company first assesses whether
objective evidence of impairment exists individually for financial assets that are individually
significant, or collectively for financial assets that are not individually significant. If the
Company determines that no objective evidence of impairment exists for an individually
assessed financial asset, whether significant or not, the asset is included in a group of
financial assets with similar credit risk characteristics, and the group is collectively assessed
for impairment. Assets that are individually for impairment and for which an impairment loss
is, or continues to be, recognized are not included in a collective assessment of impairment.
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PT OORJA INDO KGS
If there is objective evidence that an impairment loss has occurred, the amount of the loss is
measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future expected credit losses that have not yet been
incurred). The present value of the estimated future cash flows is discounted at the financial
asset’s original effective interest rate. If a “loans and receivables” financial asset has a
variable interest rate, the discount rate for measuring impairment loss is the current effective
interest rate.
Financial assets carried at amortized cost
The carrying amount of the financial asset is reduced through the use of an allowance for
impairment account and the amount of the loss is recognized in the statement of
comprehensive income. Interest income continues to be accrued on the reduced carrying
amount based on the original effective interest rate of the financial asset.
Loans and receivables, together with the associated allowance, are written off when there
is no realistic prospect of future recovery and all collateral has been realized or has been
transferred to the Company. If, in a subsequent year, the amount of the estimated
impairment loss increases or decreases because of an event occurring after the impairment
was recognized, the previously recognized impairment loss is increased or reduced by
adjusting the allowance for impairment account. If a future write-off is later recovered, the
recovery is recognized in profit or loss.
vii. Derecognition of financial assets and liabilities
Financial assets
A financial asset (or where applicable, a part of a financial asset or part of a group of similar
financial assets) is derecognized when :
(1) the rights to receive cash flows from the asset have expired, or
(2) the Company has transferred its rights to receive cash flows from the asset or has
assumed an obligation to pay the received cash flows in full without material delay to
a third party under a “pass-though” arrangement, and either
(a) the Company has transferred substantially all the risks and rewards of the asset,
or
(b) the Company has neither transferred nor retained substantially all the risks and
rewards of the asset, but has transferred control of the asset.
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PT OORJA INDO KGS
Financial liabilities
A financial liability is derecognized when the obligation under the liability is discharged or
cancelled 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 profit and loss.
3. SOURCE OF ESTIMATION UNCERTAINTY
The preparation of the Company’s financial statements requires management to make judgments,
estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities,
and the disclosure of contingent liabilities, at the end of the reporting period. However, uncertainty
about these assumptions and estimates could result in outcomes that require a material adjustment to
the carrying amount of the asset and liability affected in future periods.
Judgments
In the process of applying the Company’s accounting policies, management has made the following
judgments, apart from those including estimations and assumptions, which have the most significant
effect on the amounts recognized in the financial statements :
a. Determination of functional currency
Management has made judgment on the determination of functional currency. The functional
currency of the Company is the currency of the primary economic environment in which the
Company operates. It is the currency that mainly influences the revenue and cost of goods sold.
Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the end of
the reporting period that have a significant risk of causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial period are discussed below :
a. Determination of fair values of financial assets and financial liabilities
When the fair value of financial assets and financial liabilities recorded in the statement of
financial position cannot be derived from active markets, their fair value is determined using
valuation techniques including the discounted cash flow model. The inputs to these models are
taken from observable markets where possible, but where this is not feasible, a degree of
judgment is required in establishing fair value. The judgment includes consideration of inputs such
as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect
the reported fair value of financial instruments.
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PT OORJA INDO KGS
b. Estimating useful lives of fixed assets
The Company estimates the useful lives of its fixed assets based on expected asset utilization as
anchored on business plans and strategies that also consider expected future technological
developments and market behavior. The estimation of the useful lives of fixed assets is based on
the Company’s collective assessment of industry practice, internal technical evaluation and
experience with similar assets. The estimated useful lives are reviewed at least each financial year
end and are updated if expectations differ from previous estimates due to physical wear and tear,
technical or commercial obsolescence and legal or other limitations on the use of the assets. It is
possible, however, that future results of operations could be materially affected by changes in the
estimates brought about by changes in the factors mentioned above.
4. CASH ON HAND AND IN BANKS
Cash on hand and in banks consist of :
March 31,
2017 2016
Cash on hand
Indonesian Rupiah - 28,698
Cash in banks
Indonesian Rupiah
PT Bank Danamon Indonesia Tbk. 12,676 439,391
PT Bank Mandiri (Persero) Tbk. - 992
United States dollar
PT Bank Danamon Indonesia Tbk. 4,213 19,584
PT Bank Mandiri (Persero) Tbk. - 9,933
Total cash in banks 16,888 469,900
Total 16,888 498,598
All cash in banks are placed in third-party banks.
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PT OORJA INDO KGS
6. OTHER RECEIVABLES
Other receivables consist of :
March 31,
2017 2016
Related parties
PT Indo Perkasa - 190,802
PT Karya Putra Borneo - 9,168
Total related parties - 199,970
Third parties
PT Tenaga Resources 150,522 150,522
PT Param Mitra Coal Resources 90,000 90,000
PT Putera Lautan Kumala Lines - 29,500
PT SGS Indonesia - 13,243
Others - 2,031
Total third parties 240,522 285,296
Total 240,522 485,266
Based on the review of the receivable at the end of the year, the Company’s management is of the
opinion that the receivable are realizable at the above amounts and no provision for impairment is
necessary.
7. DUE FROM RELATED PARTIES
Due from related parties consist of :
March 31,
2017 2016
PT Nuansa Sakti Kencana 119,687 489,537

PT Bima Gema Permata - 135,536
Total 119,687 625,073
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PT OORJA INDO KGS
8. TAXATION
a. Prepaid tax consist of :
March 31,
2017 2016
Income tax article 28 A - year ended March 31, 2015 - 148,328
b. Tax payable consist of :
March 31,
2017 2016
Income tax article 21 - 937

Income tax article 23 - 16
Income tax article 4 (2) - 46
Value added tax - 7,785
Total - 8,784
c. The reconciliation between loss before income tax as shown in the statements of profit or loss and
other comprehensive income, and estimated fiscal loss of the Company is as follows :

2017 2016
Loss before income tax (363,950) (1,998,278)

Permanent differences
Non-deductible expenses
Taxes 205,517 -
Travelling 5,960 -
Insurance 498 -
Depreciation 336 -
Rental - 176,831
Salary and allowances - 131,721
Telecommunication - 7,223
Employee welfare - 4,726
Donation - 4,149
Others 31,857 65,242
Income already subjected to final tax
Interest (105) (3,018)
17
PT OORJA INDO KGS

2017 2016
Temporary differences
Depreciation of fixed assets 119,070 139,271
Loss on disposal of fixed assets - (702,003)
Estimated taxable income (817) (2,174,136)
Accumulated estimated fiscal loss

1)
Year ended March 31, 2015 - (426,654)
Year ended March 31, 2016 (2,174,136) (2,174,136)
Year ended March 31, 2017 (817) -
Total accumulated fiscal loss (2,174,953) (2,600,790)
1) On July 2016, the Company received tax assessment letter for fiscal year ended March 31,
2015, confirming the Company’s taxable income amounting to US$ 822,012 instead of fiscal
loss estimated by the Company amounting to US$ 426,654. The fiscal loss has been corrected
to zero amount in the year ended March 31, 2017.
9. ADVANCE FOR PURCHASE IN PROPERTY
Advance for purchase in property represents advance purchase of office units as of March 31, 2016.
10. FIXED ASSETS – NET
The movements of this accounts are as follows :
Year ended March 31, 2017

Beginning Ending
Balance Additions Deductions Balance
Cost
Building 1,099,110 - - 1,099,110
Accumulated depreciation
Building 164,866 119,071 - 283,937
Net book value 934,244 815,173
18
PT OORJA INDO KGS
Year ended March 31, 2016

Beginning Ending
Balance Additions Deductions Balance
Costs
Building 1,588,665 - 489,555 1,099,110
Office equipment 101,253 - 101,253 -
Furniture and fittings 170,736 - 170,736 -
Vehicle 600,082 - 600,082 -
Total costs 2,460,736 - 1,361,626 1,099,110
Accumulated depreciation
Building 292,574 100,752 228,460 164,866
Office equipment 78,244 12,337 90,581 -
Furniture and fittings 107,757 32,822 140,579 -
Vehicle 445,297 67,884 513,181 -
Total accumulated
depreciation 923,872 213,795 972,801 164,866
Net book value 1,536,864 934,244
Depreciation was charged to operations as general and administrative expense amounting to

US$ 119,071 and US$ 213,795 for the year ended March 31, 2017 and 2016, respectively.
The details of sale of fixed asset is as follows :

2017 2016
Cost - 1,361,626
Accumulated depreciation - (972,801)
Net book value - 388,825

Proceeds - 479,674
Gain on sale of fixed assets - 90,849
Based on management’s assessment, there are no events or changes in circumstances which may
indicate an impairment in the value of fixed assets as of March 31, 2017.
19
PT OORJA INDO KGS
11. DUE TO RELATED PARTY
Due to related party represents advance from MCS Holdings Pte. Ltd.
12. CAPITAL STOCK
The details of the Company stockholders as of March 31, 2017 as follows :
% Number of Nominal
Shareholders shares per share Total
Oorja 1 Pte. Ltd. 95.69 1,110 250 277,500

Oorja Holdings Pte. Ltd. 4.31 50 250 12,500
Total 100.00 1,160 290,000
The details of the Company stockholders as of March 31, 2016 as follows :
% Number of Nominal
Shareholders shares per share Total
Oorja 3 Pte. Ltd. 95.00 950 250 237,500

Oorja Holdings Pte. Ltd. 5.00 50 250 12,500
Total 100.00 1,000 250,000
13. SALES AND COST OF GOOD SOLD
This accounts represent sales and cost of coal for the year ended March 31, 2016.
14. SELLING EXPENSES
The details of selling expenses are as follows :

2017 2016
Barge - 770,320
Stevedoring - 280,804
Others - 84,810
Total - 1,135,934
20
PT OORJA INDO KGS
15. GENERAL AND ADMINISTRATIVE EXPENSES
The details of general and administrative expenses are as follows :

2017 2016
Salary and allowances - 774,020

Rental - 236,783
Depreciation 119,407 213,795
Taxes 205,517 41,514
Others 12,851 516,498
Total 337,775 1,782,610
16. THE COMPANY’S FINANCIAL CONDITIONS
On March 31, 2017, the Company is in an inactive condition, this condition is due to the unfavorable
economic condition/ unfavorable coal price. At present the management decided to maintain the
Company in dormant position.
In January 2017, the Company changes its scope of activity into brown sugar trading.
21

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I

PT OORJA INDO KOS IIt.lA}lCIAT SIAII[iI}IIS

Director's statement letter

Independent auditor's report

1 Statement of financial position

3 Statement of profit or loss and other comprehensive income

4 Statement of changes in equity (capital deficiency)

5 Statement of cash flows

7 Notes to financial statements

l, lhe undersigned below, :

finonciol stotemenls for

4. I om responsible for lhe Compony's internol control system'

This stotement hos been mode truthfully.

PT OORJA INDO KGS

INDEPENDENI AUDITOR'S REPORI

Jusllnus A. Sldhqils, CPA

TOTAL CURRENT ASSETS 378,933 1,757,265

TOTAL NON-CURRENT ASSETS 815,173 6,258,789

TOTAL ASSETS 1,194,106 8,016,054

LIABILITIES AND EQUITY (CAPITAL DEFICIENCY)

TOTAL CURRENT LIABILITIES 1,379,465 7,877,463

TOTAL LIABILITIES 1,379,465 7,877,463

TOTAL EQUITY (CAPITAL DEFICIENCY) (185,359) 138,591

TOTAL LIABILITIES AND EQUITY (CAPITAL DEFICIENCY) 1,194,106 8,016,054

Year ended March 31,

SALES 2,13 - 8,226,860

COST OF GOOD SOLD 2,13 - (6,809,283)

GROSS PROFIT - 1,417,578

Gain (loss) on foreign exchange - net 5,632 (140,369)

LOSS FROM OPERATIONS (363,950) (1,998,278)

LOSS BEFORE INCOME TAX (363,950) (1,998,278)

INCOME TAX EXPENSE

INCOME (LOSS) FOR THE YEAR (363,950) (2,111,680)

OTHER COMPREHENSIVE INCOME - -

TOTAL COMPREHENSIVE LOSS

Capital stock - Total

Balance as of April 1, 2015 250,000 2,000,271 2,250,271

Loss for the year - (2,111,680) (2,111,680)

Balance as of March 31, 2016 250,000 (111,409) 138,591

Paid in capital 40,000 - 40,000

Balance as of March 31, 2017 290,000 (475,359) (185,359)

Year ended December 31,

CASH FLOW FROM OPERATING ACTIVITIES

Adjustment to reconcile loss before income tax

Cash provided by (used in) operating activities (256,206) 3,522,848

Payment of employee benefits - (57,521)

Net cash provided by (used in) operating activities (256,206) 3,465,327

CASH FLOW FROM INVESTING ACTIVITIES

Net cash provided by investing activities 5,322,126 533,219

Year ended December 31,

CASH FLOW FROM FINANCING ACTIVITIES

Net cash used in financing activities (5,547,630) (4,361,007)

DECREASE IN NET CASH ON HAND AND IN BANKS (481,710) (362,461)

CASH ON HAND AND IN BANKS, AT BEGINNING

CASH ON HAND AND IN BANKS, AT END OF YEAR 16,888 498,598

a. The Company’s establishment

The Company’s scope of activities is coal trading since May 2009.

b. The boards of commissioner and director and employees

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES