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    GDYR LKT Desember 2016

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    GDYR LKT Desember 2016

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    GDYR_LKT_Desember_2016

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    GDYR LKT Desember 2016

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    PT GOODYEAR INDONESIA Tbk LAPORAN KEUANGAN/FINANCIAL STATEMENTS 31 DESEMBER/DECEMBER 2016 CT Kae a3 ‘SURAT PENYATAAN DIREKSI TENTANG TANGGUNG JAWAB ATAS LAPORAN KEUANGAN PADA TANGGAL 31 DESEMBER 2016 DAN 2015 SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR 31 DESEWBER 2016 DAN 2015 BOARD OF DIRECTORS’ STATEMENT REGARDING THE RESPONSIBILITY FOR THE FINANCIAL STATEMENTS AS AT ‘31 DECEMBER 2016 AND 2015 ‘AND FOR THE YEARS ENDED 31 DECEMBER 2016 AND 2015 PT GOODYEAR INDONESIA Tbk PT GOODYEAR INDONESIA Tbk ‘Saya yang bertanda tangan dibawah ini The undersigned: Nama Marco H. Viasman Name Alamat kantor ‘Jk. Pemuda No. 27, Bogor 16161 Office address ‘Alama domisi si. Pemuda No. 27, Bogor Domicile address as stated In ID 16161 Nomor telepon 0261 8322071 Phone number Jabatan President Director Position Menyatakan bahwa : Declare that : 1. Kami bertanggung jawab atas penyusunan dan enyajian laporan keuangan PT Goodyear Indonesia Tok; 2. Laporan keuangan PT Goodyear Indonesia Tok telah disusun dan disajkan sesuai_dengan Standar Akuntansi Keuangan di Indonesia; ‘Semua informasi dalam laporan keuangan PT Goodyear Indonesia Tbk telah cimuat ssecara lengkap dan benar; b. Laporan keuangan PT Goodyear Indonesia ‘Tok tidak mengandung informasi atau fakta material yang tidak benar, dan tidak ‘menghilangkan informasi atau fakta material; 4. Kami bertanggung jawab tas _ sistem Pengendalian intemal dalam PT Goodyear Indonesia Tok. Demikian pernyataan ini cibuat dengan sebenamya. 1. We are responsible for the preparation and presentation of PT Goodyear indonesie Tbk’s financial statements; PT Goodyear Indonesia _Tbk’s financial Statements have been prepared and presented in ‘accordance with Indonesian Financial Accounting ‘Standards; '@Allinformation in the PT Goodyear indonesia Tok’s financial statements has been disclosed in 2 complete and truthful manner b. PT Goodyear Indonesia Tbk’s financial ‘statements do not contain any incorrect information or materiel fact, nor do they omit information or materia fact; We are responsible for PT Goodyear Indonesia Tok's intemal control system. This_is our declaration, which has been made truthful. ‘Atas nama dan mewakili Dewan DireksilFor and on behalf ofthe Board of Directors Bogor, 29 MaretiMarch 2017 President Direktur seketigus Direktur President Director as well as Director ¥1 Gooden Indonesia Tbk. JI, Pemude No. 27- Bogor - 16161 Phone : (62-251) 8322071, Fax. : (62-251) 8328088 (arco H. Viasman) www.goodyear-indonesia.com LAPORAN AUDITOR INDEPENDEN KEPADA PARA PEMEGANG SAHAM INDEPENDENT AUDITORS’ REPORT TO THE SHAREHOLDERS OF PT GOODYEAR INDONESIA Tbk Kami telah mengandit Japoran__euangan PT Goodyear Indonesia ‘Tbk (“Perusahaan”), yang terdiri dari laporan posisi Keuangan_tanggal gi Desember 2016, serta lporan laba-rogi dan. pendapatan komprehensif —lainnys, —_laporan perubahan ekuitas dan laporan arus kas untuk tabun, yang berakhir pada tanggal tersebut, dan_suatu Iikhtisar kebijakan akuntansi signifikan dan informasi penjelasan lainnya. Tanggung jawab manajemen atas laporan keuangan ‘Manajemen bertanggung jawab atas penyusunan dan penyajian wajar laporan keuangan tersebut sesuai ‘dengan Standar Akuntansi Keuangan di Indonesia, ‘dan atas pengendalian internal yang dianggap peri oleh manajemen untuk memungkinkan penyusunan laporan Keuangan yang bebas dari kesalahan penyajian materiel, ‘baik yang disebabkan oleh kecurangan maupun kesalahan, ‘Tanggung jawab auditor ‘Tanggung jawab kami adalah untuk menyatakan svatt’ opini atas laporan Keuangan tersebut berdasarkan audit kami. Kami melaksanakan audit kami berdasarkan Standar Audit yang ditetapkan oleh Institut Akuntan Publik Indonesia Standar tersebut ‘mengharuskan kami untuk mematuhi ketentuan etika serta merencanakan dan melaksanakan audit untuk memperoleh keyakinan memadai_ tentang apakah laporan Keuangan bebas dari kesalahan enyajian material Suatu audit melibatkan pelaksanaan prosedur untuk ‘memperoleh bukti audit tentang angka-angka dan pengungkapan dalam laporan keuangan. Prosedur yang dipilih bergantung pada pertimbangan auditor, {ermasuk penilaian atas risiko kesalahan penyajian ‘material dalam leporan keuangan, baik yang isebabkan oleh kecurangan-maupun kesalahan, Dalam melakukan penilaian risiko tersebut, auditor mempertimbangkan pengendalian internal yang relevan dengan penyusunan dan penyajian wajar laporan keuangan entitas untuk meraneang prosedur audit yang tepat sesuai dengan kondisinya, tetapi Dbukan untuk tujuan menyatakan opini atas Keofektivitasan pengendalian internal entitas. Suatu audit juga mencakup pengevaluasian atas ketepatan kebijakan akuntansi yang digunakan dan Kantor Akuntan Publik Tanudiredja, Wibisav We have audited the accompanying financial statements of PT Goodyear Indonesia Tbk, which comprise the statement of financial position as at 1 December 2016, and the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. Management's responsibility for the financial statements Management is responsible for the preparation ‘and fair presentation of these financial statements in “accordance with Indonesian Financial Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We ‘condueted our audit in accordance with Standards ‘on Auditing established by the Indonesian Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit 10 obtain reasonable assurance about whether the Jinancial statements are free from material ‘misstatement. “An audit involves performing procedures to obtain ‘audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in ‘order to design audit’ procedures that are ‘appropriate in the circumstances, but not for the Purpose of expressing an opinion on. the effectiveness of the entity’ internal contro. An audit also includes evaluating the appropriateness of accounting polices used and , Rintis & Rekan Plaza 89, Jl. H.R. Rasuna Said Kav. X-7 No.6 Jakarta 12940 - INDONESIA, P.O. Box 2473 JKP 10001 1: $62.21 5212901, Fis 62 21 52905555 / 52905050, wwww-pwe.com/id nar i Una 4/40 ‘hivogag9oos/c2/it/2047 pwe Kewajaranestimasi akuntansi_yang dibuat oleh manajemen, serta pengevaluasian atas penyajian Japoran kevangan secara keseluruhan. Kami yakin bahwa bukti audit yang telah kami peroleh adalah cukup dan tepat untuk menyediakan ‘suatu basis bagi opini audit kami. Opini Menurut opini kami, laporan keuangan terlampir menyajikan secara wajar, dalam semua hal yang material, posisi keuangan PT Goodyear Indonesia ‘Tok tanggal 3: Desember 2016, sorta kinerja kkeuangan dan arus kasnya untuk tahun yang berakhir pada tanggal tersebut, sesuai dengan’ Standar Akuntansi Keuangan di Tadonesia JAKARTA the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation ofthe financial statements, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the accompanying financial ‘statements present fairly, in all material respects, the financial position of PT Goodyear Indonesia TK as at gi December 2016, and its financial performance and cash flows for the year then ended in accordance with Indonesian Financial ‘Accounting Standards 29 Maret/March 2017 AMaistun Drs. Irhoan Tanudiredja, CPA Sorat jin Akuntan Publik Tivense of Public AccountanNo. AP,0226 Apugagong/DCa/IRT 2017 PT GOODYEAR INDONESIA Tbk Halaman - 1/1 - Schedule LAPORAN POSISI KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan tain) ASET ASET LANCAR ‘kas dan setara kas Piutang usaha ~ Pihak ketiga = Pihnak berelasi PPiutang lain-ain Pihak ketiga ~ Pihak berolasi Persediaan Pajak dibayar dimuka = Pajak penghasilan badan = Laindain Beban dibayar dimuka Vang muka Jumiah aset lancar ASETTIDAK LANCAR, ‘Aset pajak tanaguhan Aset totap ‘Aset takberwujud ‘set dak lancarlain-lain Jumiah aset tidak lancar JUMLAH ASET *)Dlistis, hat Catan 33 Catatan ates loporan keuengan merupakan bagian yang Catatani ——2016__ _Notes 12,505,721 2,502,852 5,894,331 394,966, 414,723 snort 5,252,493, 1,371,921 11071100, 360,398 46,840,216 5,368,579 59,685,138 217,989 728.919 _——66,000.625 ona ‘iéakterpisehkan dan laporan keuangan. 14a 10 STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2016 AND 2015, 2018) 10,289,450, 4,239,194 8,099,270 458,508, 556,734 48,800,095 5,252,493, 2,168,130, 643,857 143.528 50,652,255 4.871.547 163,058,983, 367,512 567/565 88,663,608 —110.315.063 (Expressed in US Dollar, unless otherwise stated) ASSETS ‘CURRENT ASSETS Cash and cash equivaients Trade receivables Third parties. ~ Related parties. ~ Other receivables Third parties. - Related parties ~ Inventories Propaid taxes Corporate income tax ~ Others. - Prepaid expensos Advances Total current assets NON.CURRENT ASSETS Deferred tax assets Fixed assets Intangible assets Other non-current assets Total non-current assets TOTAL ASSETS *) As rocasied refer to Note 33 The accompanying nots form an integral part ‘oF these financial statements. PT GOODYEAR INDONESIA Tbk Halaman -1/2- Schedule LAPORAN POSISI KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Doler AS, kecuali dinyatakan lain) 2016 LIABILITAS LIABILITAS JANGKA PENDEK Utang usaha ~ Piak ketiga 23,826,525 Piha berelasi 21032.210 Pinjaman jangka pendek 5,328,000 Uang muka ~ Pihak ketiga 41,702 = ia berokasi 9.800861 Utang laindain ~ Pihak ketiga 5,602,646 * Pihak berelasi 2,738,801 ‘Axcual 4(949.272 Utang palak ~ Pajak penghasiian badan 55,183 = Pajakiaindain 198,360 Utang dividen 36254 Bagian Jangka pendek dar provsigaransiproduk 153,613 Kewajiban imbalan kerja 203,888 Jumiah Habitasjangka pendok 54,467,410 LIABILITAS JANGKA PANJANG Provisl garansi produk ‘setelah dikurangi agian jangka pendek 95,499 Provis pelepasan asot iotap 367,076 ewajiban imbatan kerja ——1.813.407 Jummiah abiltasjangka panjang __2.095,982 SJUMLAH LIABILITAS 56,563,392 Catatan ata laporan kevangan merupakan bagian yang ‘Bak terpisahkan da laporan keuangan, Catatan! Notes "1 6,11 16 66 2 6c 13 14 19 18 18 STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, untess otherwise stated) 2045 LIABILITIES CURRENT LIABILITIES ‘Trade payables 29,444,801 Third parties ~ 1,338,790 Related parties : Short-orm borrowing Advances 79,690 Third parties. ~ AT A81,755 Related partios ther payables 6,391,905 Third parties 2;337.737 Related partios 4389323 “Accruals Taxes payable 274,460 Corporate income taxes - 215.534 Other taxes - 61.218 Dividends payable Current portion of provision 197,356 for product warranties Employee benefits 261,82 ‘obligations 62,078,390 Total current labiltios NON-CURRENT LIABILITIES Provision for product warranties - net z of current portion Assets retirement 406.427 ‘obligations Employee benefits 348,969 ‘obligations 755.396 Total non-current Fabiltios 63,833,788 TOTAL LIABILITIES The accompanying notes frm an intogyal part ‘ofthese financial statements. PT GOODYEAR INDONESIA Tbk Halaman -1/3- Schedule LAPORAN POSISI KEUANGAN STATEMENTS OF FINANCIAL POSITION 31 DESEMBER 2016 DAN 2015 ‘AS AT 31 DECEMBER 2016 AND 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) (Expressed in US Dollar, unless otherwise stated) Catatani 2016 ‘Notes 2018 EKUITAS Equity Modal saham, Share capitel, ‘modal dasar, ditempatkan authorised, issued ddan disetor penuh - ‘and fly paid - 410,000.00 lembar saham 410,000,000 ordinary biasa dengan nilal nominal ‘shares with par value of Rp 100 per lembar sahem 78,378,525 17 78,378,525 Rp 100 per share Saldo laba Retained earings = Dicadangkan T2118 m244 ‘Anpropriated ~ ~ Belum dicadangkan 52,929.71 51,534,399 Unappropriated - Penyesualan penjabaran Cumulative translation kumlatit 74,508,088) 20 74,508,088) agjusment Jumiah ekuitas 96,277,449 55,482,077 Total equity JUMLAH LIABILITAS DAN TOTAL LIABILITIES AND EKUITAS 112. 640.841 118.3158 EQUITY CCatatanatasleporan keuangan merupakan bagian yang The sccompanying notes form an integral part tidak terpisankan dar lapocan kevangan ‘ofthese nancial statements. PT GOODYEAR INDONESIA Tbk Halaman -2- Schedule LAPORAN LABARUGI DAN ‘STATEMENTS OF PROFIT OR LOSS AND PENGHASILAN KOMPREHENSIF LAINNYA OTHER COMPREHENSIVE INCOME UNTUK TAHUN-TAHUN YANG BERAKHIR: FOR THE YEARS ENDED 31 DESEMBER 2016 DAN 2015 31 DECEWBER 2016 AND 2015 (Binyatakan dalam Dolar AS, Kecuali dinyatakan Iain) —_(Expressed in US Dollar, unless otherwise stated) Catatant 2016 ‘Notes 2018? Penjuatan bersity 154,505,164 21 184,643,022 Net sales Beban pokok penjuslan = _(137.271,604) 22 (38,506,305) Cost of sales Laba bruto 17,298,560 16,196,717 Gross promt ‘Boban penjualen (@.792,703) 23 (908,888) Seling expenses General and administrative Beban umum dan administrasi (6.582757) 23 (7.347.071) ‘expenses Pendapstan keuangan 27.037 2.311 Finance income Biaya keuangan (988,248) 24 (1,001,974) Finance costs Laindain, bersih (459864) 25 __ (353,778) ‘Others, net Laba sebolum pajale penghasilan 2,587,025 1,507,317 Profit before income tox Boban pajak penghasilen 910,900) 140 1.618.208 Income tex expense Laba/(rugi tahun berjalan 56.125 10.978) _Profiu(loss) for the yoar Rug! komprehensif lain Other comprehensive loss Pos-pos yang tidak akan ems that will not be direklasifikasi ke laba rugi reclassified to profitor loss Pengukuran kembali Kewaliban ‘Remeasurements of post- pasca kerja (1,187,809) 45 (106,098) "employment benefits 298975 14d 26.524 ‘Related incame tox -Jumiah rugi komprehensif Total other comprehensive lain tahun berjalan (390,924) 12.51 loss for the year Jumlah labal(rugi) komprehensif Total comprehensive income/ tahun berjalan Tt tas) (oss) for the year Labal(rugi) per saham - dasar Earnings{loss) per share - dan dilusian ——2004 8 __0.0003) ‘basic and diluted "7 Oreste that Cattn "Aree rtf Note 33 Catalan ats aporenkevengan merupkan bagian yang Te accompanying rete fam an eral pat tak erpisankan den laporankevangen. ‘of fese Mhanclal statement ‘squoweersjoueuy e504) 18 pesBoju ue wi sojou Buvedhwoooe oy “veBven2y uesode| ep ueyyesidc) Yepn Suk uelBeq uexed-uaw ueBuenoy ueiode| sae UEIeIED 902 sequeceg 16 38 se souejeg wR eM Wee er siz s9queseg te opies spuepinp poumioyy —— wae Lwemequo%yp uepING 50} arysuayouctv09 0470 (wz5'068) 1yeoy Gres 2908 ou 04 10s szt'990'1 ‘ueeiog une €ge7 S402 soqueced 16 38 se eoveyeg, (ee0'sos'v2) ——oseves'is wou sesso Stoz seqeseg te opres spuepivp pouiney wes ‘vemequoxip wopiNG pupae use (ooe'ves) 6 se) u9pING sbunwee poueyas paeudasiiy (osw'e) owe a ‘er vesuepen anyun uewshueg 80) ansuayaiuoo 1410 (nus'eu) fue isuaydu0y fs 2996 au 14 5807 (eso) vejetiog unyer ay 902 henuer } ese eouyjes, (eaveos'ye) §——oev'uvozs vores szs'ee'es oz venuer 5 opies eure “pormeMaN “porEpaaRay- —Tayes— sero luopeysuey —jueyBuepeojp —jueyBuepeoia erys eve exgemung nies reyes “anelnuir, ares PROTESTER epow eregelued ujensekued (poje)s osimsoujo ssejun ‘se}0q S7 u! pessaidx3) SL0z ONV 9402 43EW30I0 LE OSONF SHVIA FHL HOS AJINDA NI SIONVHD JO SINAW3LVLS einpeyos -¢- uewereH MAL VISANOGNI HVIAGOOS 1d (ute; uexereAup yenosy ‘sy sel0q weep UeeVeKUIa) sioz Nva shoz waawasaa ie MIDIVEERS ONVA NOHVI-NOHYA SLND SVLINNA NVHVENYSd NVEORVT PT GOODYEAR INDONESIA Tbk Halaman - LAPORAN ARUS KAS UNTUK TAHUN-TAHUN YANG BERAKHIR 34 DESEMBER 2016 DAN 2015 (Dinyaiakan dalam Dolar AS, kecuali dinyatakan lain) 4~ Schedule ‘STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) Catatanl 2016 ‘Notes 201 Cash flows from operating ‘Arus kas dar aktivtas operasi ‘activities Penermasn deri pelanagan 1512316,197 153,113,620, Receipts rom customers Pembayaran kepada perasok (310038014) (96.872,902) Payments 0 supers Pembayaran kepada karyawan 8.044589) 2.386.656) Payments fo employoes Kas yang dinesthan dar operas 27,483,600 49,853,802 Cash gonerated rom operations Penesimaan pendapatan keuangan 2n0s7 Receipts of france income Penermaan restusi pak lain 4553882 de Receipts of other taxes retands Pembayaran kepada dana pensiun Payments to pension funds Pembayaran palak penghasilan badan Payments of corporate income fax Pembayaran beban Payments for other ‘operational ainnya 192,781,967) operational expenses ‘Aras kas borsih yang diperoleh [Net cash flows provided from ‘dari aktivitas operasi 251,949 ake ‘operating activities Cash lows from investing ‘Acus kas dari aktivitas invostasi ‘ctiities ‘Proceeds tram asposal of Hos pelepasan asettetap jong 8 130.201 of fixed assets Pembelianaset ttap (3.511.197) 872117) Acquision of fied assets ‘Arus kas bersih yang digunakan Not cash flows used in ‘untuk aktivites Investas! (8501 579) 8.001.016) Cash flows from financing ‘Arus kas dari aktivitas pandanaan ‘tivities Pembayaran bieya kevangan (51.114) (1.012.378) Payments of france costs Pembayaran dividen kas ‘ (857.188) Payments of cash dviderals Penerimaan pengerbalan dividen aoa7t 15.771 Receipts of returned dividend Penerimaan prjaman jangka pendek 12,028,000 10,500,000 FReceips of short-term loan Pembayaran pnjaman jangka pendek (6.700.009) (10,500,000) Payments. of shorter loan ‘Acus kas bersih yang diperoteh ‘dae! (digunakan untuk) aktvitas [Net cash flows provided from! endanaan sor 0s7 Konaikan bersih kas. ‘dan setara kas 2.257.421 Efek perubahan nla kurs ‘erhadiap kas dan setae kas (41.180) Kas dan sotara kas pads ‘aval tahun 10,289,450 Kas dan sotara kas pads ‘akhir tahun 2.508 72 ")Drehoshas, hat Cation 33 CCatatan ates laporan keuangan merupekan bacian yang tidak terpisankan dar laporan kevangan. 1,953,798) (used in) financing actvives Not incroase in cash 4731 and cash equivalents Effect of exchange rate changes (714,387) on cash and cash equivalents ‘Cash and cash equivalents 1.590.288 at the beginning ofthe year (Cash and cash equivalents 4 __19280.460 ‘atthe end of the year *)Asrecasaied referte Note 33 The accompanying notes form an integral part of these financial statements. PT GOODYEAR INDONESIA Tbk Halaman - 5/1 - Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) 4. UMUM 1. GENERAL a. Pendirian dan informasi umum PT Goodyear Indonesia Tbk (‘Perusahaan’) semula didinkan dengan nama “NV The Goodyear Tire & Rubber Company Limited” pada tanggal 26 Januari 1917 berdasarkan ‘Akta No. 199 Notaris Benjamin ter Kuile, yang kemudian berubah nama menjadi *PT Goodyear Indonesia" berdasarkan Akta Notatis Eliza Pondaag No. 73 tanggal 31 Oktober 1977 yang telah disahkan oleh Menteri_Kehakiman Republik Indonesia dalam Surat Keputusan No. Y.A./250/7 tanggal 25 Juli 1978, ‘Anggaran Dasar Perusahaan telah mengalami beberapa kali perubahan. Pada tahun berjalan, Perusahaan telah mengubah Anggaran Dasar Perusahaan sebagai berikut: Pada tanggal 27 Mei 2015, berdasarkan Akta No. 74/K/Vi2018 dari Notaris Haji Syanf Siangan Tanugjaja, S.H. = Perusahaan mengubah ruang_lingkup Usaha Perusahaan menjadi mendirikan dan menjalankan industi pembuatan segala macam ban untuk kendarean serta produk lainnya yang terkait dengan induste ban. ~ Perusahaan _memecah nilai nominal ‘saham dari Rp 1.000 menjadi Rp 100 per saham, sehingga mengubah jumiah modal dasar dari 41,000,000 menjaci 410,000.00 lembar saham. Perusahaan bergerak dalam bidang industri ban untuk kendaraan bermotor, pesawat {erbang serta komponen lain yang terkait, juga distribusi dan ekspor ban. Perusahaan mulai beroperasi dalam bidang usaha perdagangan ban pada tahun 1917, Pabrik Perusahaan dibangun pada tahun 1935 di Bogor sebagai pabrik ban pertama di Indonesia. Kantor pusat Perusahaan berdomisili di Bogor. a. Establishment and general information PT Goodyear Indonesia Tbk (the "Company’) was established under the name of ‘NV The Goodyear Tire & Rubber Company Limited” on 26 January 1917 based on Notarial Deed No, 199 of Benjamin ter Kuile, which was then changed to “PT Goodyear Indonesia” based on Notarial Deed No. 73 of Eliza Pondaag dated 31 October 1977 and was approved by tho Ministry of Justice of the Republic of Indonesia in Decision Letter No. Y.A.8/250/7 dated 25 July 1978. The Company's Articles of Association have been amended several times. In the current ‘year, the Company has amended its Articles of Associations as follows: On 27 May 2015, based on Notarial Deed No. 74/K/V/2015\ of Haji Syanif Siangan Tanudjaja, S.H. = The Company changed its business activities into establishing and operating tyre manufacturing for all types of vehicles and other tyre related products. = Tho Company spit its par value of stock from Rp 1,000 to Rp 100 per share, which changed the authorised share Capital from 41,000,000 into 410,000,000 shares. The Company is engaged in tyre ‘manufacturing for automobiles, airplanes and certain related components, together with the distribution and exporting of tyre. The Company commenced its commercial operations in 1917 in the tyre trading business. The Company's plant was built in 1935 in Bogor as the frst tyre manufacturing plant in Indonesia. The Company's head office is domiciled in Bogor, PT GOODYEAR INDONESIA Tbk Halaman -5/2- Schedule CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) UMUM (lanjutan) b. Penawaran umum efek Pada tanggal 10 November 1960, Perusahaan menawarkan 6.180.000 lembar sanamnya dengan nilai nominal sebesar Rp 1.000 per lembar saham kepada masyarakat melalui Bursa Efek Jakarta (BEJ'), efektit_mulai 1 Desember 2007 ‘menjadi Bursa Efek Indonesia (‘BEI) Pada tanggal 20 Desember 2000 Perusahaan mendaftarkan 34,850.00 lembar sahamnya yang dimiliki oleh The Goodyear Tire & Rubber Company ("GTRC’) ke BEI. Sejak tanggal 2 Januari 2001, seluruh saham Perusahaan telah tercatat ssecara resmi di BEI, Pada tanggal 27 Mei 2015, Perusahaan memecah nilai nominal saham dari Rp 1.000 menjadi Rp 100 per saham, sehingga mengubah jumiah saham yang ‘didaflarkan dari 41.000,000 lembar ‘saham menjadi 410,000,000 lembar saham, cc. Struktur Perusahaan Induk utara Perusahaan adalah GTRC, sebuah perusahaan yang berdiri dan berkedudukan di Amerika Serikat. d. Karyawan, Dewan Komisaris dan Direksi, dan Komite Audit Susunan_ anggota Dewan Komisaris den Direksi Perusahaan pada_tanggal-tanggal 31 Desember 2016 dan 2015 adalah sebagai berikut: 2016 Dewan Komisaris Presiden Komisaris Komisaris Independen Komisaris Michae! Lee Dreyer Bhra Eka Gunapriya Direksi Presiden Direktur Direktur Independen _Budiman Husin Direktur Loi Siew Kee: Direktur 7 Marco H. Viasman 1 Andrew Michael Cooper NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressod in US Dollar, unless otherwise stated) GENERAL (continued) b. Public offering of securities issued On 10 November 1980, the Company offered 6,180,000 shares with @ par value of Ro 1,000 per share to the public through the Jakarta Stock Exchange (ISX, which ‘effectively ffom 1 December 2007, became the Indonesia Stock Exchange (1SX%. On 20 December 2000, the Company registered 34,850,000 shares held by The Goodyear Tire & Rubber Company ("GTRC’) with the ISX. Effective from 2 January 2001, all of the Company's shares were officially listed on the ISX. On 27 May 2015, the Company split its par value of stock from Rp 1,000 to Rp 100 per share, subsequently changed the number of registered shares from 41,000,000 shares Into 410,000,000 shares. 6. Structure of the Company The ultimate parent of the Company is GTRC, a company which is incorporated and domiciled in the United States of America, d. Employees, Board of Commissioners and Directors, and Audit Committee The members of the Company's Board of Commissioners and Directors. as at 31 December 2016 and 2015 are as follows: 2015 Board of Commissioners Randeep Singh Kanwar President Commissioner Bhra Eka Gunapriya Independent Commissioner Gino Gazarella Commissioner Directors Marco H.Viasman President Director Budiman Husin Independent Director Loi Siow Kee Director Devrina Yuselia Director PT GOODYEAR INDONESIA Tbk Halaman - 5/3 - Schedule CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalem Dolar AS, kecuali dinyatakan lain) NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed In US Dollar, unless otherwise stated) 4. UNUM (lanjtan) 4. GENERAL (continued) 4. Karyawan, Dewan Komisaris dan Direksi, _d. Employees, Board of Commissioners and dan Komite Audit (lanjutan) Directors, and Audit Committee (continued) ‘Susunan anggota Komite Audit Perusahean The members of the Company's Audit pada tanggal-tanggal 31 Desember 2016 Committee as at 31 December 2016 and fan 2015 adalah sobagal berkut 2015 are as follows: 2016 and 2015, etua ‘ha Eka Gunapriya Chairman Anggots Istata Sidharia Member fnggota Dewy Nazahar Mombor Pada tanggal 31 Desember 2016, As al 31 December 2016, the Company had Perusahaan memilki 957. (2018: 980) 967 (2015: 980) permanent employees karyawan etap (dak dau). (unauctted) 2. IKHTISAR KEBWJAKAN AKUNTANSI PENTING 2, SUMMARY OF SIGNIFICANT ACCOUNTING Laporan keuangan Perusahaan _disusun berdasarkan Standar Akuntansi Keuangan di Indonesia dan diotorisasi untuk terbit oleh Direksi pada tanggal 29 Maret 2017, Berikut ini adalah ikhtisar kebijakan akuntansi yang signifkan yang iterapkan dalam ;penyusunan laporan keuangan, a. Dasar penyusunan laporan keuangan Laporan keuangan disusun berdasarkan konsep harga perolehan, kecuali beberapa akuntertentu, — disusun _berdasarkan engukuran lain sebagalmana diuraikan dalam kebijakan akuntansi_masing-masing kun tersebut. Laporan keuangandisusun dengan menggunakan dasar akrval, kecuali untuk laporan arus kas. Laporan aus kas disusun dengan menggunakan metode lengsung dengan mengelompokkan rus kas alas dasar kegiatan operasi, investasi dan pendanaan. Seluruh angka dalam laporan_keuangan disajan dalam Dolar AS (‘ASS'), kecuall dinyatakan lain, POLICIES The financial statements of the Company have been prepared in accordance with Indonesian Financial Accounting Standards and were authorised fo be issued by the Directors on 29 March 2017. The foliowings are the significant accounting policies applied in preparing the financial statements. a. Basis of preparation of the financial statements Tho financial statements have been prepared fon the basis of historical cost, except for certain accounts which are prepared based on other measurement described in the related ‘accounting policies. The financial statements have been prepared fon the basis of the accruals concept, except for the statements of cash flows. The statement of cash flows is prepared based on the direct method by classiying cash flows on the basis of operating, investing and financing activities. Figures in the financial statements are stated jin US Dollar ("USS), unless otherwise specified. PT GOODYEAR INDONESIA Tbk Halaman -5/4- Schedule CATATAN ATAS LAPORAN KEUANGAN. 34 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecualt inyatakan tain) IKHTISAR KEBIJAKAN AKUNTANSI PENTING (anjutan) a. Dasar penyusunan laporan keuangan (lanjutan) Penyusunan laporan keuangan sesuai dengan Standar Akuntansi Keuangan di Indonesia mengharuskan —_ penggunaan estimasi dan asumsi. Hal tersebut juga mengharuskan manajemen untuk membuat pertimbangan dalam proses penerapan kebijakan akuntensi Perusahaan. Area yang kompleks atau memerlukan —tingkat pertimbangan yang lebih tinggi atau area dimana asumsi_ dan estimasi_ dapat berdampak signifkan terhadap _laporan keuangan diungkapkan di Catatan 3. Perubahan pada Pernyataan Standar ‘Akuntansi Keuangan dan Interpretasi Pernyataan Standar Akuntansi Keuangan Penerapan dari revisi_standar dan interpretasistandar _berikut ini, tidak menimbulkan perubahan _substansial tethadap kebijakan akuntans! Perusahaan dan tidak memilki dampak terhadap jumlah yang dilaporkan di periode berjalan atau tahun sebelumnya: - PSAK 6 (Penyesuaian 2016) “Segmen Operasi* = PSAK 7 (Revisi 2015) "Pengungkapan pihak-pihak berelas!" = PSAK 16 (Revisi 2015) "Aset tetap" PSAK 19° (Revisi 2015) * Aset takbenwujud” - PSAK 24 (Revisi 2015) ‘Imbalan kerja” ~ PSAK 53 (Revisi 2015) "Pembayaran berbasis saham* ISAK 30 “Punguten" NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) a. Basis of preparation of the financial statements (continued) The preparation of finencial statements in conformity with Indonesian Financial ‘Accounting Standards requires the use of Certain critical accounting estimates. It elso requires management to exercise its judgment in the process of applying the ‘Company's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial Statements are disclosed in Note 3 Changes to the Statements of Financial Accounting Standards and Interpretations of Statements of Financial Accounting Standards The adoption of the following amended standards and interpretations did not result in substantial changes to the Company's ‘accounting policies and had no effect on the ‘amounts reported for current or prior financial years: = PSAK 5 (Annual improvement 2016) “Operating Segment” - PSAK 7 (Revised 2015) ‘Related party disclosure" - PSAK 16 (Revised 2018) "Fixed asset” + PSAK 19 (Revised 2015) “intangible asset” - PSAK 24 (Revised 2015) “Employee benefits” - PSAK 53 (Revised 2015) “Share-based payment” + ISAK 30 "Levies" PT GOODYEAR INDONESIA Tbk Halaman -5/5- Schedule CATATAN ATAS LAPORAN KEUANGAN, 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) 2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING (anjutan) Dasar penyusunan laporan keuangan (anjutan) ‘Amendemen dan penyesuaian PSAK yang relevan yang akan berlaku efektif pada ‘tahun 2017 dan 2018 = PSAK 4 (Revisi 2015) "Penyajian laporan kevangan’ - PSAK'3 (Penyesuaian 2016) “Laporan Keuangan Interim” ~ Amandemen PSAK 2 ‘Laporan arus kas” ~ Amandemen PSAK 16 “Aset tetap" = PSAK 24 (Penyesuaian 2016) “Imbalan kero" = Amandemen PSAK 48 “Pajak penghasilan® ~ PSAK 60 (Penyesuaian 2016) “Instrumen keuangan: pengungkapan” ‘Amandemen PSAK 1 “Penyajian laporan keuangan’, penyesuaian PSAK 3 “Laporan Keungan interim’, penyesuaian PSAK 24 “imbaian kerja" dan amandemen PSAK 60 “Instrumen keuangan’ berlaku efektif pada 1 Januati 2017 sedangkan standar lain berlaku ‘efekti pada 1 Januari 2018. Penerapan dini atas. standar-standar tersebut diperkenankan, Pada _tanggal penyelesaian _laporan keuangan ini, Perusahaan _sedang mempelajai dampak yang mungkin timbul dari penerapan standar yang relevan di atas terhadap laporan keuangan Perusahaan, Penjabaran mata uang asing (2) Mata vang fungsional dan penyajian Itemtem yang termasuk dalam laporan keuangan Perusahaan diukur dengan ‘mata vang lingkungan ekonomi utama di mana eniitas beroperasi (‘mata uang fungsionaf"). Laporan_kevangan disajkan dalam Dolar AS, yang ‘merupakan mata uang fungsional dan penyajian Perusshaan. (ii) Transakst dan saldo ‘Transaksi-ransaksi dalam mata ang lainnya dijabarkan ke mata uang Dolar AS dengan menggunakan kurs yang berlaku pada tanggal transaksi NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, uniess otherwise stated) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Basis of preparation of the financial ‘statements (continued) Relevant amendment and annual improvement to PSAK which will become ‘effective in 2017 and 2018 - PSAK 4 (Revised 2015) “Presentation of financial statements" = PSAK 3 (Annual Improvement 2016) “Interim Financial Statements” = Amendment to PSAK 2 “Statement of ‘Cash Flows" = Amendment to PSAK16 “Fixed asset” = PSAK 24 (Annual improvement 2016) “Employee benefits” = Amendment to SFAS 46 “Income taxes" = PSAK 60 (Annual improvement 2016) “Financial instrument: disclosures” The amendment to PSAK 1 “Prosentation of financial statements’, annual improvement fo PSAK 3 “Interim Financial Statements’, annual improvement to PSAK 24 “Employee benefits" and amendment to PSAK 60 “Financial instruments" are effective on 4 January 2017, while the other standards are ‘effective on 1 January 2018. Early adoption ‘of the above standards is permitted. At the completion date of these financial ‘statements, the Company is assessing the ‘impact of the above relevant standards to its financial statements. Foreign currency translation (i) Functional and presentation currency jtems included inthe financial statements of the Company's are ‘measured using the currency of the primary economic environment in which the entity operates (‘the functional ‘currency’. The financial statements are presented in US Dollar, which is the ‘Company's functional and presentation currency. (il) Transactions and balances Transactions denominated in_ other currencies are translated into US Dollar at the exchange rates prevailing as at the date of the transaction. PT GOODYEAR INDONESIA Tbk Halaman - 16 - Schedule CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) IKHTISAR KEBIJAKAN AKUNTANS! PENTING (anjutan) b, Penjabaran mata uang asing (lanjutan) (ii) Transaksi dan saldo (lanjutan) Pada tanggal laporan posisi keuangan, aset dan liabilitas moneter dalam mata vuang lainnya dijabarkan ke mata uang Dolar AS menggunakan Kurs yang berlaku pada akhir periode pelaporan. Kurs dari mata uang utama lainnya yang 30 har Zotz 2,502,862 Pihak berelasi Belum jatun tempo 5,023,724 Lewat jatuh tempo 1 -30 han 733/327 Lewat jatuh tempo 31 - 69 hari 31,259 Lewat jatuh tempo > 60 hari 108,02 —Sg04.g3t 8.907.183 Pada tanggal 31 Desember 2016, piutang usaha sebesar ASS 2.550.329 (2015: AS$ 4.269.427) telah lewat jatuh tempo namun tidak mengalami ppenurunan nial. Hal ini terkait dengan sejumiah pelanggan yang tidak memiliki sejarah gagal bayar, ‘Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) 5, TRADE RECEIVABLES 2015 Third parties 1,992,939, Rupiah 2246.25 US Dollars 4,239,194 Related parties 8,099,270 US Dollars —12.338.464 See Note 6 for details of related party transactions and balances. The details of trade receivables by geographical area are as follows: 2015 10,345,525 Overseas customers 1.992939 Local customers —12.908.464 The aging of trade receivables is as follows: 2015 Third parties 1,317,016 Current 2.918270 Overdue 1 - 30 days 3,908 Overdue > 30 days 4.239.194 Related partios 6,752,021 Current 1,188,929, Overdue 1 - 30 days 104,608 Overdue 31 - 60 days 312 Overdue > 60 days 8,099,270 —12.338,464 As at 31 December 2016, trade receivables of US$ 2,560,329 (2015: USS 4,269,427) were past ‘due but not impaired. These relate to @ number of Independent customers with whom there is no recent history of default. PT GOODYEAR INDONESIA Tbk Halaman -5/19- Schedule CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) 5. PIUTANG USAHA (lanjutan) Berdasarkan penelaahan atas_kemungkinan tertagihnya piutang usaha pada akhir tahun, ‘manajemen _berkeyakinan bahwa —provisi penurunan nilai piutang tidak diperlukan. Pada tanggal 31 Desember 2016 dan 2016, tidak {erdapat plutang usaha yang dljaminkan untuk utang atau pinjaman lainnya, INFORMASI MENGENAI PIHAK BERELASI ‘a, Sifat hubungan dan transaksi dengan NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) 5. TRADE RECEIVABLES (continued) Based on a review of collectibilty ofthe trade receivables at the end of the yoar, ‘management believes that there is no provision for impairment of receivables eoded. As at 31 December 2016 and 2015, no trade receivables are pledged as collateral for payables or loans. RELATED PARTY INFORMATION a Nature of relationship and pihak berelasi transactions with related parties Piak bereiaai! ‘Sifat ubungand Transakel yang signifier? Related parties Nature of relationship Significant transactions |The Goodyesr Tre & Rubber Co. emogang saham tamal enjusian barangjedl’Sales of ished (ceTRC’) ‘Majer shareholder ‘gods smbalian than baku dan ase elap! Purchases of raw mefrials and ea assets nts teknisTechnial assistance year Pripines ne iar Malaysia Bhd. edyear (Thailand) Public Co, Ld oat Middle East FE iyear Duniop Ties Operations S.8 (formerly Gooeyear Luxembourg Tires Sa) oar & Dunlop Tyros (NZ) Limited (formerly South Pace Tyres New Zealand) ‘Goodyear Dalian Tire Company Lt. sya Taiwan Limited year Korea Company year Eartymover Py Limited year Lastiien TAS. Soar de Columbia S.A. year India Lis Compania Goodyear del Peru SA. {Goodyear de Chie SAIC. -odyear International Corporation leumatcns Goodyear § RL amagang sahamh BENT yang ‘samal The same utimete” |" goods ‘Shoreholder juan barang jaa Sales of isha ebelan bahan baku, barang jad dan | year & Dunlop Tyres (NasL) Ply. La Porogang sahara yang ‘sanal The sameulimate shorenolder enjualan barang jad/Saies of frished ‘geod embetian Bahan baka, barang jc dan ‘set tetapPurchases of aw ‘mates, fished goods and fixed ‘ecole [Beban bunga dari vang muka penjusian ‘yang cltemalinterest expense from the sales vance receives PT GOODYEAR INDONESIA Tbk Halaman - 5/20- Schedule CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS 31 DESEMBER 2016 DAN 2015 31 DECEMBER 2016 AND 2015 {@inyatakan dalam Dolar AS, Kecual dinyatakan ain) _(Expressed in US Dollar, unless otherwise stated) 6. INFORMASI MENGENAIPIHAK BERELASI 6, RELATED PARTY INFORMATION (continued) (lanjutan) a. Sifat hubungan dan transaksi dengan a. Nature of relationship and transactions pihak berelasi(lanjutan) with related parties (continued) Pinak borates ‘iat hubungan! ~Transaiai yang signittanl Related parties Nature of atonship Signifeant transactions tear Osenk Compary PRS emegang sahom at yang Pnjulanbarng jad Sales of ed timites ‘ama! The same ulimete | “goods ‘sharehoaer embelan barangjaiPurchases of ‘ished goose |pokas beban eon dan joss ‘chnologinfomostAlocaton of regina! charges and aration tecinolgy srmces an Koorinasipemban behan aku! Coordinating nature rber purchase Jbocayeer Recional Business tana re ame ciimote’ [Stban asa GRBSY GRABS sence fees shareelder eran Keniars dan DvekaV Bardo? Manejemen tune Pausahaaid Komipencael dan romuneaoT ‘Commissioners and Orecors ‘Key monagementottte | Compensation and remuneration y na Pension Goodyear indonesia” Program inbaan pascakojal Paribayaran Koniibul PvsTaan ase Goodyear Indonesia's Porson Fund | “Postemploymentbenetts | program pensn/Payment of pion Contrbuton forthe Companys pension lon . Ikhtisar transaksi signifikan dengan pihak —-b._ Summary of significant transactions with borelasi related parties 2016 2015 Penjuatan Sales Goodyear Philipines inc. 19828681 12,546,678 Goodyear Philipines ine. Goodyear & Duniop Tyres (Aust) Gooayear & Dunlop Tyres (Aust) Pry. Lid 8921,186 21,738,816 Py. Lt. Goodyear Malaysia Bhat 4,356/808—8/896,675 Goodyear Malaysia Bhd, Goodyear indi Lis. 21565269 2,786,907 Goodyear India Lid, Goodyear inimational Goodyear International Corporation 2852984 6,014,042 Corporation ‘Goodyear Orient Company Goodyear Orient Company Private Limited 2498581 2,954,697 Private Limited ‘Goodyear (Thailand) Goodyear (Thaliand) Public Co,, Ltd 2.418.277 2,538,106 ‘Public Co, Lid Goodyear & Dunlop Tyres (NZ) Goodyear & Dunlop Tyres (NZ) Umited 4.747603 3,133,287 Limited Goodyear Middle East F.2.E 11707138 21715938 Goodyear Middle East FZ E. Goodyear Dunlop Tires Goodyear Duniop Tres Operations S.A. 1614558 2,871,087 Operations 5. Goodyear Taiwan Limited 1343280 11366,623, Goodyear Taiwan Limited Goodyear Korea Company 131855519 ‘977,130 Goodyear Korea Company Goodyear Dalian Goodyear Dalian Tire Company Lid. 983,632 234,908 Tire Company Lid. Goodyear de Columbia S.A 719004 1,187,675 Gooayoar de Columbia S.A Compania Goodyear Compania Goodyear del Peru S.A. 273,146 718,860 del Peru SA PT GOODYEAR INDONESIA Tbk CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Doler AS, kecuali dinyatakan lain) (lanjutan) INFORMASI MENGENAI PIHAK BERELAS! Halaman - 5/21 - Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, uniess otherwise stated) 6 RELATED PARTY INFORMATION (continued) b. Ikhtisar transaksi signifikan dengan pihak b. Summary of significant transactions with berelasi (lanjutan) enjualan (lanjutan) Goodyear de Chile S.A..C Goodyear Lastikien TAS, Lain-lain (masing-masing ddibawah ASS 100 000) ‘Sebagai persentase dari penjualan bersin 2016 173,740 123,975 18.13.2885 —m Penjualan bersin ke pihak _berelasi diatnbusikan ke segmen penggantian. Pembelian bahan baku ‘The Goodyear Tire & Rubber Co. Goodyear Dalian Tire Company Ltd. Goodyear Malaysia Bhd. Lain-ain (masing-masing ‘di bawah ASS 100.000) ‘Sebagai persentase dari ‘beban pokok penjuatan Pembelian barang jadi Goodyear Dalian Tire Company Ltd Goodyear Malaysia Bhd, Goodyear (Thailand) Public Co,, Lid. Goodyear Dunlop Tires Operations SA Lain-lain (masing-masing ‘di Bawah ASS 100,000) ‘Sebagal persentase dari ‘beban pokok penjualan Beban bantuan teknis ‘The Goodyear Tire & Rubber Co. ‘Sebagai persentase dari ‘beban pokok penjualan 2016 5,802,101 62,172 2,595,967 959,362 497,039 36,377 related parties (continued) 2015 Sales (continued) 199,408 Goodyear de Chile S.A.1.C. 113,902 Goodyear Lastkleri TAS. 47,633 Others (each below US$ 100,000) sao 44% As a percentage of net sales Net sales to related parties are attributable fo replacement segment. 2015 Purchase of raw materials 5,542,149 The Goodyear Tire & Rubber Co Goodyear Dalian 954,462 Tire Company Ltd. 101,469 Goodyear Malaysia Bhd, 49,028 Others (each below USS 100,000) 6,047,108, 4% As a percentage of cost of sales 2015 Purchase of finished goods Goodyear Dalian 2,694,383, Tire Company Ltd. 9.779 Goodyear Malaysia Bhd, Goodyear (Thailand) 194,776 Public Co., Ltd Goodyear Dunlop 136,557 Tires Operations SA 117.510 Others (each below USS 100,000) 3.005.005 2% Asa percentage of cost of sales Technical assistance fees 6,168,204 The Goodyear Tire & Rubber Co. 4% As 2 percentage of cost of sales PT GOODYEAR INDONESIA Tbk Halaman -5/22~ Schedule NOTES TO THE FINANCIAL STATEMENTS CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Doler AS, kecuali dinyatakan lain) 6. INFORMAS! MENGENAI PIHAK BERELAS! (anjutan) b. Ikhtisar transaks! signifikan dengan pihak berefasi(lanjutan) Pembelian aset tetap Goodyear International Corporation “The Goodyear Tire & Rubber Co. Lain-iain (masing-masing di bawah ASS 100.000) Sebagal persentase dari jumiah pembelian aset tetap Beban jasa teknologi informasi Goodyear Orient Company Private Limited ‘Sebagal persentase dart jumlah beban penjualan dan umum dan administrasi Biaya keuangan Goodyear & Dunlop Tyres (Aust.) Pry. Lid. 2016 690,974 243,462 48,137 ——% 2016 Boban jasa shared service center Goodyear Regional Businoss Beban koordinasi pembelian ‘bahan baku ‘Goodyear Orient Company Private Limited ‘Alokasi beban regional ‘Goodyear Orient Company Private Limited ‘Sebagal persentase dari bbeban pokok penjualan, beban penjualan dan ‘umum dan administrasi 341,217 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) 6, RELATED PARTY INFORMATION (continued) b. Summary of significant transactions with related parties (continued) 2015 787,906 30,610 61,255 set ——1% 427,965 6.791.440 Purchase of fixed assets Goodyear Iniernational Corporation The Goodyear Tire & Rubber Co. Others (each below US$ 100,000) As a percentage of total purchases of fixed assets Information technology ‘sorvice fees Goodyear Orient Company Private Limited As a percentage of total selling and general and administrative expenses Finance costs Goodyear & Dunlop Tyres (Aust.) Ply Lt. As a percentage of total finance costs ‘Shared service center foos Goodyear Regional Business Coordinating natural rubber purchase Goodyear Orient Company Private Limited Allocation of regional charges Goodyear Orient Company Private Limited As a percentage of cost of sales, ‘selling and general ‘and administrative expenses PT GOODYEAR INDONESIA Tbk Halaman -5/23~ Schedule CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS 31 DESEMBER 2016 DAN 2015 31 DECEMBER 2016 AND 2015 {Dinyatakan dalam Dolar AS, kecuall dinyatakan Iain) (Expressed in US Dollar, unless otherwise stated) 6, INFORMASI MENGENAIPIHAK BERELAS| 6. RELATED PARTY INFORMATION (continued) (anjutan) c. Ikhtisar saldo akun pihak berelasi c. Summary of balances of related party accounts 2016 2015 Piutang usaha Trade receivables Goodyear International Corporation 1,612,801 41,892,821 Goodyear International Corporation Goodyear Philippines Inc. 11267053 1,766,724 ‘Goodyear Philipines Inc. Goodyear Orient Company Goodyear Orient Company Private Limited 632,940, Private Limited Goodyear & Dunlop Tyres (NZ) Goodyear & Dunlop Tyres (NZ) Limited 410,762 Limited Goodyear india Ltd. 377.165 Goodyear inca Ld. Goodyear Malaysia Bhd. 363500 Goodyear Malaysia Bhd. Goodyear Taiwan Limited 287.952 Goodyear Taiwan Limited Goodyear (Thailand) Goodyear (Thailand) Public Co., Ltd. 204,449 409,495 Public Co, Ltd, Goodyear Dalian Goodyear Daiian Tire Company Lid 198,185 73,134 Tire Company Lid. Goodyear de Colombia S.A. 110,831 271/084 Goodyear de Colombia S.A, Goodyear Middle East F.Z.E. 189,990 348,098, Goodyear Middle East FZ.E. Goodyear Dunlop Tires ‘Goodyear Dunlop Tires ‘Operations S.A. 7,870 459.071 ‘Operations S.A Goodyear & Dunlop Tyres (Aust) Goodyear & Dunlop Tyres (Aust) Ply. Ltd _ 927,122 Ply. Lid Compania Goodyear ‘Compania Goodyear dol Poru S.A, 38.078 135,067 Del Peru SA. Lain-lain (masing-masing ddibawah ASS 100.000) 232,755 144,782 Others (each below USS 100,000) 5.004.331 ___8,099.270 ‘Sebagai persentase dari Jumlah aset 5% ___1% Asa porcentage of total assets 2016 015 Other receivables Goodyear Orient Company Goodyear Orient Company Private Limited 254,808 198,441 Private Limited The Goodyear Tire & The Goodyear Tire & Rubber Co. 102,774 - Rubber Co, Goodyear Dalian Goodyear Daiian Tire Company Lid. 3,689 161,126 Tire Company Lid. Goodyear Malaysia Bd. - 109,544 Goodyear Malaysia Bhd, Lain-ain (masing-masing ddibawah ASS 100.000) 83.454 _87.623 Others (each below US$ 100,000) Sebagai persentase dari jumish aset 0.4% ___0.5% As a percentage of total assets PT GOODYEAR INDONESIA Tbk Halaman - 5/24 - CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuall dinyatakan lain) 6. INFORMAS! MENGENAI PIHAK BERELAS! 6, (lanjuten) c. Ikhtisar saldo aku pihak berelasi (lanjutan) 2016 tang usaha ‘The Goodyear Tire & Rubber Co. 1,121,784 Goodyear Daan Tire Company Lid. 495,399 Goodyear Orient Company Private Limited 171,360 Gootdyoar Malaysia Bh. 460/290 Goodyear (Thailand) Public Co,, Lis. 104,370 Goodyear Lastiken TAS. 7 Lainain (masing-masing a bawah ASS 100.000) 39.307 e210 Sebagal persentase dari jumlah liabilitas ——_% ang muka The Goodyear & Dunlop Tyres (Aust. Pry. Lt. 9,800.961 Sebagai persentase dari jumiah labilitas 10% Uang muka dari Goodyear & Dunlop Tyres (Aust) Ply Lid. merupakan uang muka untuk pembelian barang jadi dengan tingkat suku unga sebesar 6,5% per tahun. Pada Desember 2016 Perusahaan dan Goodyear & Dunlop Tyres (Aust) Ply Ltd. setuju untuk mengubah perjanjian ang muka dimana klausul suku bunga dinapuskan. 2016 Utang lain-ain ‘The Goodyear Tire & Rubber Co. 1,230,267 Goodyear Orient Company Private Limited 1,081,702 Goodyear International Corporation 110,872 Goodyear Regional Business 103,872 Lai-lain (masing-masing ci bawah ASS 100.000) 212.088 ‘Sebagai persentase dari jumlah liabilitas 5% Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) RELATED PARTY INFORMATION (continued) Summary of balances of related party accounts (continued) 2015 Trade payables 451,900 The Goodyear Tire & Rubber Co. Goodyear Dalian 601,671 Tire Company Lid. Goodyear Orient Company 119,620 Private Limited a Goodyear Malaysia Bhd, ‘Goodyear (Thailand) 58,353 Public Co., Ltd 15,495, Goodyear LastikieriT.A.S. 91,751 Others (each below US$ 100,000) 1.338.200 2% As a percentage of total liabilities Advances The Goodyear & Duniop Tyres 7.151.755 (Aust) Ply. Lid. 21% As a percentage of total liabilities Advances trom Goodyear & Dunlop Tyres (Aust) Ply Ltd. represent advance for purchase of finished goods with interest rate of 5.5% per annum. Subsequently, in December 2016 the Company and Goodyear & Dunlop Tyres (Aust) Ply Ltd. agreed to amend the agreement where the interest rate clause has been annulled. 2015 Other payables 1,601,604 The Goodyear Tire & Rubber Co. ‘Goodyear Orient Company 191,352 Private Limited 263,851 Goodyear international Corporation 47,440 Goodyear Regional Business 233,590 Others (each below USS 100,000) 28a 4% AS a percentage of total liabilities PT GOODYEAR INDONESIA Tbk Halaman - 5/25 - CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 {Dinyatakan datam Dolar AS, kecuall dinyatakan Iain) 6. INFORMAS! (lanjutan) 4d. Kompensasi manajemen kunci Manajemen kunci termasuk direksi_ dan omisaris. Kompensasi yang dibayar atau lerutang kepada mangjemen kuncl untuk jase kerja adalah sebagai berikut: ——2016__ Gajj dan imbalan kerja, jangka pendek 4,461,111 Imbalan pascakerja 406,398 1.562.509 e. Dana pensiun Jumiah —pembayaran yang dllakukan Perusahaan kepada Dana Pensiun Goodyear adalah sebesar ASS 1.749.476 (2015: ASS 1.677.480). 7. PERSEDIAAN 7m —2016__ Barang jadt 6,736,376 Bahan baku 6,049,543 Barang dalam proses 3,237,349 Bahan penunjang 4,458,290 Barang dalam perjalanan 682.145 18,163,703 Dikurangi Provisi penurunan nilai persediaan __ (1,091,992) termasuk dalam beban pokok penjualan sebesar ASS 8.597.650 (2015: ASS 89.771.450). Mutasi provisi penurunan rilai persediaan selama tahun 2016 dan 2015 adalah sebagal berikut 2016 Pada awal tahun 499,647 Penambahan/(Pembalikan) 592,345, Pada akhir tahun 4,091,992 Dehli nat Caatan 23 MENGENAI PIHAK BERELAS! 6. Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) RELATED PARTY INFORMATION (continued) d. Key management compensation Key management includes directors and commissioners. The compensation paid or payable to key management for employee ‘services is shown below: 2015 Salaries and other short-term 4,162,473 employee benefits 110.319 Post-empioyment benefits 1272.92 @. Pension fund Total payment made by the Company to Goodyear's Pension Fund amounted to US$ 1,749,476 (2015: US$ 1,677,480). INVENTORIES —2015?_ 8,724,663 Finished goods 5,224,909 Raw materials 2.473.933 Work in progress 41413,047. Supplies 11463.180 Goods in transit 19,299,742 Less: Provision for impairment (498,647) of inventory 18,800,095 The cost of inventories recognised as expense ‘and included in cost of sales amounted to US$ 86,597,650 (2015: US$ 89,771,450). ‘Movements in the provision for impairment of ‘inventory during 2016 and 2016 are as follows: 2015 579,158 At the beginning of the year 79.511) ‘Adition/(Reversal) 499.647 At the end of the year +) Asreclsste, refer to Note 33 PT GOODYEAR INDONESIA Tbk Halaman - §/26- Schedule CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015, (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) 7. PERSEDIAAN (lanjutan) Manajemen berkeyakinan _bahwa _provisi ppenurunan nilai persediaan telah memadai untuk ‘menutupi kemungkinan kerugian dari persediaan sang dan tidak lancar. Pada tanggal 31 Desember 2016, persediaan diasuransikan terhadap isiko kerugian akibat kebakaran dan risiko lain dengan jumiah nilai pertanggungan sebesar AS$ 27.853.608 yang menurut pendapat manajemen telah memadai Untuk menutupl kemungkinan kerugian yang timbul dari risiko-risiko tersebut. Pada tanggal 31 Desember 2016 dan 2015, tidak {erdapat persediaan yang dljaminkan untuk utang atau pinjaman. 8. BEBAN DIBAYAR DIMUKA Beban dibayar dimuka merupakan _beban asuransi dan beban sewa yang dibayar dimuka, NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) 7. INVENTORIES (continued) Management believes that the provision for impairment of inventory is adequate to cover possible losses from obsolete and slow moving Inventory. As at 31 December 2018, inventories are covered by insurance against risk of losses from fire and other risks for a total coverage of US$. 27,853,608 which in the opinion of management is adequate fo cover possible losses arising from such risks. As at 31 December 2016 and 2015, no inventories are pledged as collateral for payables or loans. 8 PREPAID EXPENSE Prepaid expenses represent insurance and rental expenses paid in advance. 9. ASET TETAP 9. FIXED ASSETS 216 SS a Retiasifhast! Pengurangan! Ending Bilonce_ "hadvons” Recleeifcavons -Diposale balance Harge perolehan Acquiivon costs Tanah sop. tees and Pemuparan nah or2 86 7 511308 1488856 _Landingrovenerts Bangimencaminctolas| 15,045 96 7 sana ests 420 autangs andinataiatons Mendon persian 12804028 © 70915 9bis.471 (762,876) 13840088 | Mecninry and equpmant eration dan ‘fee equipment ad petergtapan tartar 6335240 @0,173 sa0986 (220) 0786198 finture s2z07349 6108 «0.606.003 (768,196) 162.251,392 ‘Acetdolam pombangunan_s0.925,699 __ 708385 wsr0s35) 1.061880 Consrton progress —tenuTuo4s __aeperz _005558 __7o3,106) _n.a12.602 ‘Akumatasi penyusutan Accumulated depreciation megan rah errs) o.seey (900920) Land improvermarts Sangonandaninsitasi (8122842) (482438) (989.300) Butsngs andietatntons ese dan pertain (@2848100) (9.878671) *ranaaa (108600360) Macniney and expert Pera car ‘fee eure ant eerglarantantor (049292) (171,116) : er (eztar™ ‘inaure ensoraan f Sarto) Vontios (107602085) (10884373) = 73225 (1170455) ial bok besin 155.586.068, os 567 Net Book value Suku eng _—1aee000 __ss76 304 (ons) __asazoe) _e7asot Spar pats stumtah 058 9 inate. Tote PT GOODYEAR INDONESIA Tbk Halaman - 5/27 - Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) 9, ASET TETAP (lanjutan) 9. FIXED ASSETS (continued) 20 re ‘egining Peranbahan ResnitianlPenguangn’ Eng iddtans” Reclaceiestone Oupoeais balance Harge perotenan ‘Acquistion costs Tanah aasorr © ariget 05.458 ‘tan Pemogeran tah Sr2864 S72884 ——_Landimprovemonts Bengunancaninealasi 152871623, 27 813 15806 98 Buitings and stations Mesindenperoman 184550883 ,772405 2682 308 (416047) 128,494,628 Machinery and aqupmert Person don (ffee equipment end erengeapantanier 6282.02 : ene - esis240 ‘tentre keesan S68 1 523 Ventios vanasoe2 1772808 eseaeer (410257) 62.27.40 ‘Asst oalam pambanginan __19,157.847 3650687 _(5, 095.35) —10.823,692 _Consrvtonn progress —tsesozes __saszosp _ 3.989.578 _teso.za7) 100,71 008 ‘Akumuta! panyusstan Accumulated depreciation emugaran onan (931305) 20.40) = 90 5 nsimprovemerts Bengonan san mssiasi (7233160) (ea 782) : 2 @22'942)susange and instatatons Meunaanperaaian” —(@2620/08) (10812408) 2 sear 215,100) Machin and caupmert eran dan ‘tfc eaipment ant Perenglapankantor (5737953) (312138), (6.049.202) ‘arti esoraan rae) ty aang “Gere Venises (sess) (1.555.756) = seai04 (107802085) a bu bees ‘00226 5.508.068 Net book value ‘suka exdang ea7eso7 2601512 asso.) __arzazay __rasnoz0 Spwe pats sumiah mss — sess Tota Beban penyusutan dialokasikan sebagai berikut: Depreciation expenses were allocated as follows: 204 2015 Beban pokok penjualan 10,796,684 11,436,583 Cost of sales Beban penjualan W172 13,741 Selling expenses General and administrative Beban umum dan administrasi 26.517 195.432 ‘expenses —10.924.973 __11.555,758 ‘Semnua aset tetap tersebut merupakan aset tetap dalam kepemilikan langsung Perusahaan. Pada tanggal 31 Desember 2016, aset dalam embangunan sejumiah ASS 6.061.550 (2015: ‘AS$ 10.923.699) terdir dari bangunan dan mesin dalam rangka peningkatan kapasitas dan kualitas produks, ‘Aset dalam penyelesaian diperkirakan akan selesal pada tahun 2017. Persentase penyelesaian aset dalam pembangunan pada fanggal 31 Desember 2016 adalah sekitar 65% dari jumiah biaya yang dianggarkan (2015: 47%). *)Dretastas, mat Cetatan 33, All fixed assets are under direct ownership of the Company. ‘As at 31 December 2016, construction in progress amounting to USS 6,061,550 (2015: USS 10,923,699) represents building and machinery for the expansion of the Company's production capacity and quality. Construction in progress is expected to be completed in 2017. The percentage of completion for construction in progress @s at 31 December 2016 is approximately 65% of total budgeted costs (2015: 47%). "yA cectosiegreter fo Noe 22 PT GOODYEAR INDONESIA Tbk Halaman - 5/24 CATATAN ATAS LAPORAN KEUANGAN 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Dolar AS, kecuali dinyatakan lain) ASET TETAP ((anjutan) Pada tanggal 31 Desember 2016, aset tetap lasuransikan terhadap risiko kerugian akibat kebakaran dan risko lain dengan jumiah nilai perlanggungan sebesar ASS 156.235.843 (2015: ASS. 139,295,119) yang menurut _pendapat manajemen telah memadai untuk ~menutup kemungkinan kerugian yang timbul dari risiko- risiko tersebut. Perusahaan memilki hak alas tanah yang akan jatuh tempo pada berbagai tahun antara tahun 2022 sampal dengan 2036, dimana hak tersebut dapat ciperpanjang. ‘Suku cadang merupakan kelompok aset yang ddigunakan untuk penggantian atas suku cadang yang digunakan pada mesin atau peralatan. Suku cadang hanya disusutkan setelah pemasangan. Manajemen berpendapat bahwa tidak terdapat penurunan nilai terhadap rilai tercatat aset tetap. Perhitungan keuntungan dari pelepasan aset {etap adalah sebagai berikut: 2016 Harga perolehan 763,196 ‘Akumulasi penyusutan 732.123) Nilai tercatat 31,073 Dikurangi: Hasil pelepasan aset tetap 109,648) Keuntungan pelepasan aset tetap __(78.545) Tidak ada perbedaan yang signifkan antara nilai wajar dan ria tercatat aset tetap, selain tanah ddan bangunan, \Nilai wajar tanah dan bangunan dan prasarana bangunan yang dimiiki oleh Perusahaan pada tanggal 31 Desember 2016 dan 2015, masing-masing berdasarkan penilalan Nilal Jual Objek Pajak ("NJOP"), sebagai berikut —2016__ Tanah 26,002,530 Bangunan dan prasarana ‘bangunan 4,760,568 —30.783.098 8 - Schedule NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2016 AND 2015 (Expressed in US Dollar, unless otherwise stated) 9. FIXED ASSETS (continued) As at 31 December 2016, fixed assets are covered by insurance against risks of losses from fre and other risks for a total coverage of US$. 156,235,843 (2015: US$ 139,295,119) which in the opinion of management is adequate to cover possible losses arising from such risks. The Company owns land rights which will expire in various years from 2022 up to 2036, after which they can be extended. ‘Spare parts represents assels with are used for replacement of the existing spare parts attached {0 the machinery and equipment. Spare parts are depreciated only from the point when the spare pparts are installed. Management Is of the view that there has been ‘no impairment in the carrying amount of fixed assets, The calculation of the gain on disposal of fixed assets is as follows: 2015 419,237 Acquisition costs 393,104) ‘Accumulated depreciation 26,133 Carrying vaiue Less: proceeds from (430,201) disposal of fixed assets (104,068) Gain on disposal of fixed assets There is no significant diference between the fair value and the carrying amount of the fixed assets, other than land and buildings. The fair value of the Company's land, and bullding and building improvements as at 31 December 2016 and 2015, was based on Safes Value of Tax Object ("NJOP), respectively, as follows: 2015 16,011,959 Land Building and building 4,631,400 improvements 20,643,259 PT GOODYEAR INDONESIA Tbk Halaman -5/29- Schedule CATATAN ATAS LAPORAN KEUANGAN, 31 DESEMBER 2016 DAN 2015 (Dinyatakan dalam Doler AS, kecuali dinyatakan lain) 9. ASET TETAP (lanjutan) Nila tersebut merupakan hasil pnilaian oberva ‘leh Pemerintah Daerah dari objek yang sejenis pada tahun berjalan, yang termasuk dalam hirark fill wajar Tingkat 2. Perbedaan pada setiap _tingkatanmetode peniaian dielaskan sebagai berikut + Harga dikutip (lidak disesuaikan) da pasar yang aktf untuk aset atau liebiltas yang identk (Tingkat 1); + Input selain harga yang dikutip dari pasar yang disertakan pada Tingkat 1 yang dapat diobservasi untuk aset dan tlablitas, balk secara_langsung (yall sebagai sebuah hrarga) atau secara tidak langsung (yaitu sebagai turunan dari harga) (Tingkat 2) + Input-untuk aset atau labiltas yang tidak didasarkan pada data pasar yang dapat iobservasi (informasi yang tidak dapat diobservasi) (Tingkat 3). Seluruh aset tetap yang ada pada tanggal pelaporan digunakan untuk menunjang aktivitas ‘operas. Harga perolehan aset tetap yang telah

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