Perusahaan Umum (Perum) Bulog Dan Entitas Anak/: and Its Subsidiaries

PERUSAHAAN UMUM (PERUM) BULOG
DAN ENTITAS ANAK/

AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN
TANGGAL 31 DESEMBER 2018 SERTA
TAHUN YANG BERAKHIR PADA TANGGAL
TERSEBUT
DAN LAPORAN AUDITOR INDEPENDEN
CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2018
FOR THE YEAR THEN ENDED
AND INDEPENDENT AUDITORS’ REPORT
DAN ENTITAS ANAK PERUSAHAAN UMUM (PERUM) BULOG
LAPORAN KEUANGAN KONSOLIDASIAN AND ITS SUBSIDIARIES
TANGGAL 31 DESEMBER 2018 SERTA CONSOLIDATED FINANCIAL STATEMENTS
TAHUN YANG BERAKHIR PADA TANGGAL AS OF DECEMBER 31, 2018 AND
TERSEBUT FOR THE YEAR THEN ENDED
DAN LAPORAN AUDITOR INDEPENDEN AND INDEPENDENT AUDITORS’ REPORT
Daftar Isi/Table of Contents
Halaman/Pages
Surat Pernyataan Direksi Directors’ Statement Letter
Laporan Auditor Independen Independent Auditors’ Report
Laporan Posisi Keuangan Konsolidasian ............................. 1-2 ........................ Consolidated Statement of Financial Position
Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss

Komprehensif Lain Konsolidasian ................................ 3-4 ..................................... and Other Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian .......................... 5 ....... …….......... Consolidated Statement of Changes in Equity
Laporan Arus Kas Konsolidasian ......................................... 6-7 ................................... Consolidated Statement of Cash Flows
Catatan Atas Laporan Keuangan Konsolidasian ................... 8 - 92 ...................... Notes to the Consolidated Financial Statements
Informasi Keuangan Tambahan ............................................ 93 - 98 ....................................... Supplementary Financial Information

The original consolidated financial statements included herein are in
the Indonesian language
PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

DAN ENTITAS ANAK AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Tanggal 31 Desember 2018 As of December 31, 2018
(Disajikan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)
Catatan/
Notes 2018 2017
ASET ASSETS
ASET LANCAR CURRENT ASSETS

Kas dan setara kas 2,5,25 7.575.059.891.881 9.006.511.660.936 Cash and cash equivalents
Piutang usaha - neto 2,6,25 1.966.871.836.362 1.112.393.041.623 Trade receivables - net
Piutang lain-lain - neto 2,7 51.529.895.643 20.640.572.334 Other receivables - net
Uang muka 2,8 20.275.197.875 25.967.732.108 Advances
Pekerjaan dalam proses 2,9 59.187.115.471 93.513.729.982 Work in progress
Persediaan - neto 2,10 24.712.988.810.489 12.620.780.031.169 Inventories - net
Pajak dibayar di muka 2,19 47.161.139.669 339.425.546.254 Prepaid taxes
Biaya dibayar di muka 2 563.652.703.075 3.301.861.852 Prepaid expenses
Aset lancar lainnya 2,11 229.830.296.788 401.960.291.951 Other current assets
Total Aset Lancar 35.226.556.887.253 23.624.494.468.209 Total Current Assets
ASET TIDAK LANCAR NON-CURRENT ASSETS

Investasi pada entitas asosiasi 2,16 30.550.757.796 30.052.956.227 Investment in associate
Aset tetap - neto 2,12 3.636.166.976.886 3.356.150.028.750 Fixed assets - net
Properti investasi - neto 2,13 234.260.776.239 221.308.333.635 Investment properties - net
Aset takberwujud - neto 2,14 4.546.712.425 4.003.844.822 Intangible assets - net
Goodwill 2, 4 138.725.233.618 138.725.233.618 Goodwill
Taksiran tagihan pajak 2,19 1.453.994.654.489 625.049.795.144 Estimated claims for tax refund
Aset pajak tangguhan - neto 2, 19 1.210.098.893.637 882.596.397.310 Deferred tax assets - net
Aset lain-lain 2,15 1.508.002.007.769 474.669.061.430 Other assets
Total Aset Tidak Lancar 8.216.346.012.859 5.732.555.650.936 Total Non-Current Assets
TOTAL ASET 43.442.902.900.112 29.357.050.119.145 TOTAL ASSETS
Catatan terlampir merupakan bagian yang tidak terpisahkan dari laporan The accompanying notes form an integral part of these consolidated financial
keuangan konsolidasian. statements.
1

LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(lanjutan) (continued)
Catatan/
Notes 2018 2017
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Utang bank jangka pendek 2,17,25 29.306.598.030.548 13.238.833.649.479 Short-term bank loans
Utang usaha - 2,18 Trade payables -
Pihak ketiga 1.686.520.643.956 2.611.653.190.322 third parties
Utang pajak 2,19 26.451.367.879 22.073.140.504 Taxes payable
Biaya yang masih harus dibayar 2,20 542.577.859.781 663.919.254.114 Accrued expenses
Uang muka penjualan 2,21 39.885.245.401 16.817.221.305 Sales advances
Liabilitas jangka panjang yang jatuh tempo Current maturities of long-
dalam satu tahun: term liabilities:
Utang bank 2,23,25 81.321.040.000 75.261.800.000 Bank loans
Utang pembiayaan konsumen 2,22 1.757.645.817 389.365.671 Consumer financing payables
Total Liabilitas Jangka Pendek 31.685.111.833.382 16.628.947.621.395 Total Current Liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

Liabilitas imbalan kerja 2,24 159.854.034.326 273.915.092.903 Employee benefits liability
Liabilitas jangka panjang - setelah
dikurangi bagian yang jatuh tempo Long-term liabilities - net
dalam satu tahun: current maturities:
Utang bank 2,23,25 788.448.273.879 812.759.250.020 Bank loans
Utang pembiayaan konsumen 2,22 3.722.475.213 162.152.323 Consumer financing payables
Total Liabilitas Jangka Panjang 952.024.783.418 1.086.836.495.246 Total Non-Current Liabilities
TOTAL LIABILITAS 32.637.136.616.800 17.715.784.116.641 TOTAL LIABILITIES
EKUITAS 26 EQUITY
Ekuitas yang dapat diatribusikan Equity attributable to
kepada pemilik entitas induk owners of the parent entity
Modal Pemerintah 12.522.386.683.042 12.522.386.683.042 Government capital
Defisit (1.373.357.302.105 ) (450.128.334.770 ) Deficit
Rugi komprehensif lain (251.052.007.667 ) (376.890.196.379 ) Other comprehensive loss
Total ekuitas yang dapat diatribusikan Total equity attributable to owners

kepada pemilik entitas induk 10.897.977.373.270 11.695.368.151.893 of the parent entity
Kepentingan non pengendali (92.211.089.958 ) (54.102.149.389 ) Non-controlling interest
EKUITAS - NETO 10.805.766.283.312 11.641.266.002.504 EQUITY – NET
TOTAL LIABILITAS DAN EKUITAS 43.442.902.900.112 29.357.050.119.145 TOTAL LIABILITIES AND EQUITY
2

LAPORAN LABA RUGI DAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN OTHER COMPREHENSIVE INCOME
Untuk Tahun Yang Berakhir Pada Tanggal For The Year Ended
31 Desember 2018 December 31, 2018
Catatan/
2018 Notes 2017
PENJUALAN 28.436.609.609.015 2,27 33.010.371.318.826 SALES

BEBAN POKOK PENJUALAN 24.363.808.694.402 2,28 27.830.814.157.135 COST OF GOODS SOLD
LABA BRUTO 4.072.800.914.613 5.179.557.161.691 GROSS PROFIT
BEBAN USAHA 2,29 OPERATING EXPENSES

Umum dan administrasi 2.477.612.042.524 2.821.201.196.847 General and administrative
Eksploitasi 334.710.383.841 405.088.229.543 Exploitation
Penjualan 166.579.078.731 271.613.173.557 Selling
Total beban usaha 2.978.901.505.096 3.497.902.599.947 Total operating expenses
LABA USAHA 1.093.899.409.517 1.681.654.561.744 OPERATING INCOME
PENDAPATAN (BEBAN) LAIN-LAIN 2,30 OTHER INCOME (EXPENSE)

Pendapatan keuangan 328.071.395.357 338.781.311.355 Finance income
Pendapatan lain-lain 436.617.175.212 335.654.871.627 Other income
Beban keuangan (2.198.157.893.354) (1.969.166.134.312) Finance costs
Beban lain-lain (912.411.974.931) (262.829.347.352) Other expenses
Beban Lain-lain - Neto (2.345.881.297.716) (1.557.559.298.682) Other Expenses - Net
LABA (RUGI) SEBELUM PAJAK INCOME (LOSS) BEFORE INCOME

PENGHASILAN (1.251.981.888.199) 124.095.263.062 TAX
MANFAAT (BEBAN) PAJAK

PENGHASILAN 2,19 INCOME TAX BENEFIT (EXPENSE)
Kini (18.853.392.250) (43.911.435.885) Current
Penyesuaian SKP (60.548.500.663) 180.542.664.254 Adjusments SKP
Tangguhan 369.597.887.725 570.254.002.119 Deferred
Manfaat Pajak Penghasilan - Neto 290.195.994.812 706.885.230.488 Income Tax Benefit - Net
LABA (RUGI) NETO (961.785.893.387) 830.980.493.550 NET INCOME (LOSS)
3

LAPORAN LABA RUGI DAN CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN OTHER COMPREHENSIVE INCOME (continued)
(lanjutan) For The Year Ended
Untuk Tahun Yang Berakhir Pada Tanggal December 31, 2018
31 Desember 2018 (Expressed in Rupiah, unless otherwise stated)
(Disajikan dalam Rupiah, kecuali dinyatakan lain)
Catatan/
2018 Notes 2017
PENDAPATAN KOMPREHENSIF
LAIN OTHER COMPREHENSIVE INCOME
Item yang tidak akan Item not to be reclassified to
direklasifikasikan ke laba rugi pada profit or loss in subsequent
periode berikutnya: period:
Pengukuran kembali atas Re-measurement of
liabilitas imbalan kerja 168.381.565.593 2,24 (228.461.685.669) employment benefits liability
Pajak penghasilan terkait (42.095.391.398) 2,19 57.115.421.417 Related income tax
Penghasilan (Rugi) komprehensif lain Other Comprehensive Income

- Setelah Pajak 126.286.174.195 (171.346.264.252) (Loss) - Net of Tax
TOTAL LABA (RUGI) TOTAL COMPREHENSIVE INCOME

KOMPREHENSIF (835.499.719.192) 659.634.229.298 (LOSS)
Laba (rugi )neto yang dapat

diatribusikan kepada: Net income (loss) attributable to:
Pemilik entitas induk (923.228.967.335) 876.966.918.131 Owners of the parent
Kepentingan non pengendali (38.556.926.052) (45.986.424.581) Non-controlling interest
(961.785.893.387) 830.980.493.550
Total laba (rugi) komprehensif Total comprehensive income

yang dapat diatribusikan kepada: (loss) attributable to:
Pemilik entitas induk (797.390.778.623) 705.786.939.031 Owners of the parent
Kepentingan non pengendali (38.108.940.569) (46.152.709.733) Non-controlling interest
(835.499.719.192) 659.634.229.298
4
the indonesian language

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Tahun Yang Berakhir Pada Tanggal For The Year Ended
Ekuitas yang dapat diatribusikan kepada pemilik entitas induk / Equity attributable to
owners of the parent entity
Keuntungan (Kerugian)
Pengukuran Kembali
Rugi Komprehensif Lain
- Neto/ loss from Kepentingan
Modal Pemerintah / Remeasurement of non pengendali/
Catatan/ Government Other Comprehensive Non-controlling Ekuitas - Neto/
Notes Capital Defisit/Deficit Loss Neto/Net interest Equity - Net
Saldo per 1 Januari 2017 26 12.522.386.683.042 (1.327.095.252.901 ) (205.710.217.279 ) 10.989.581.212.862 (7.629.439.656 ) 10.981.951.773.206 Balance as of January 1, 2017
Pembayaran deviden dari entitas anak - - - - (320.000.000 ) (320.000.000 ) Dividend payment by subsidiaries
Laba neto - 876.966.918.131 - 876.966.918.131 (45.986.424.581 ) 830.980.493.550 Net income
Rugi komprehensif lain: Other comprehensive loss
Pengukuran kembali liabilitas Remeasurement of
imbalan kerja - setelah pajak - - (171.179.979.100 ) (171.179.979.100 ) (166.285.152 ) (171.346.264.252 ) employee benefits liability - net of tax
Saldo per 31 Desember 2017 26 12.522.386.683.042 (450.128.334.770 ) (376.890.196.379 ) 11.695.368.151.893 (54.102.149.389 ) 11.641.266.002.504 Balance as of December 31, 2017
Rugi neto - (923.228.967.335 ) - (923.228.967.335 ) (38.556.926.052 ) (961.785.893.387 ) Net loss

Laba komprehensif lain: Other comprehensive income
Pengukuran kembali liabilitas Remeasurement of
imbalan kerja - setelah pajak - - 125.838.188.712 125.838.188.712 447.985.483 126.286.174.195 employee benefits liability - net of tax
Saldo per 31 Desember 2018 26 12.522.386.683.042 (1.373.357.302.105 ) (251.052.007.667 ) 10.897.977.373.270 (92.211.089.958 ) 10.805.766.283.312 Balance as of December 31, 2018
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these consolidated financial statement.
laporan keuangan konsolidasian.
5

DAN ENTITAS ANAK AND ENTITAS ANAK
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CASH FLOWS
Catatan/
2018 Notes 2017
Arus Kas dari Aktivitas Operasi Cash Flows from Operating Activities
Laba (rugi) sebelum manfaat
pajak penghasilan (1.251.981.888.199) 124.095.263.062 Income (loss) before income tax
Penyesuaian laba (rugi) menjadi Adjustment of income (loss) before
kas neto yang diperoleh dari income tax to net cash provided
(digunakan untuk) aktivitas operasi: from (used in) operating activities:
Penyusutan aset tetap 156.993.622.727 12 133.855.897.151 Depreciation of fixed assets
Amortisasi aset takberwujud 987.386.969 14 465.684.568 Amortization of intangible assets
Depreciation of investment
Penyusutan properti investasi 1.040.700.077 13 1.097.893.217 Property
Allowance for impairment losses
Cadangan penurunan nilai piutang 11.572.866.838 29.405.830.300 Receivable
Allowance for impairment losses
Cadangan penurunan nilai persediaan 18.648.844.786 - Inventory
Beban imbalan kerja 122.656.253.599 103.623.690.975 Employee benefits expenses
Foreign exchange gains on cash
Laba selisih kurs kas dan setara kas (27.266.873.410) (2.798.764.749) and cash equivalent
Beban bunga 2.198.157.893.354 1.754.998.803.277 Interest expenses
Laba penjualan aset tetap (2.526.715.724) 12 (17.575.663.330) Gain on sale of fixed asset
Laba penjualan properti investasi (4.262.590.523) 13 - Gain on sale of investment property
Kepentingan non pengendali - (320.000.000) Non-controling interest
Lain-lain (270.114.482) - Other
Penyesuaian atas pajak Tax adjusments in respect of the
tahun lalu (60.548.500.663) 180.542.664.254 prior years
Bagian keuntungan entitas Share in net income of
Asosiasi (497.801.569) 16 (52.956.227) associate entity
Pembayaran imbalan kerja (68.335.746.583) (60.590.973.709) Payment employee benefits
Pembayaran pajak (453.069.943.694) - Payment tax
Pembayaran bunga (2.198.157.893.354) (1.754.998.803.277) Payment interst
Perubahan aktivitas operasi Changes in operating

dalam aset dan liabilitas: assets and liabilities:
Piutang usaha (857.434.633.635) 1.262.310.645.432 Trade receivables
Piutang lain-lain (39.506.351.251) (19.285.007.076) Other receivables
Uang muka 11.498.935.330 137.477.159.280 Advances
Persediaan (12.110.857.624.107) 5.242.011.482.377 Inventories
Pajak dibayar di muka 292.264.406.585 (233.187.800.895) Prepaid taxes
Pendapatan yang masih harus diterima 23.068.024.096 (128.424.255.466) Accrued income
Biaya dibayar di muka (560.350.841.223) 976.536.051 Prepaid expense
Aset lancar lainnya 172.129.995.163 (68.505.620.032) Other current assets
Taksiran tagihan pajak (375.874.915.651) (139.983.225.959) Estimated claim for tax refund
Aset lain-lain (1.033.332.946.338) 2.193.014.907.427 Other assets
Utang usaha (925.132.546.366) 1.991.062.735.702 Trade payables
Utang pajak (14.475.164.875) (343.144.641.523) Taxes payable
Biaya yang masih harus dibayar (121.341.394.333) 43.424.716.897 Accrued expenses
Liabilitas lancar lainnya - (215.910.417) Other current liabilities
Pekerjaan dalam pelaksanaan 34.326.614.511 (63.857.386.054) Work in Progress
Kas Neto Diperoleh dari (Digunakan Net Cash Provided by (Used in)
Untuk) Aktivitas Operasi (17.061.878.941.945) 10.365.422.901.256 Operating Activities
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these consolidated financial
laporan keuangan konsolidasian. statement.
6

PERUSAHAAN UMUM (PERUM) BULOG AND ENTITAS ANAK
DAN ENTITAS ANAK CONSOLIDATED STATEMENT OF CASH FLOWS
LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan) (continued)
Catatan/
2018 Notes 2017
Arus Kas dari Aktivitas Investasi Cash Flows from Investing Activities
Investasi pada entitas asosiasi - 16 (30.000.000.000) Invesment in associate entity
Uang muka pembelian aset tetap (5.806.401.096) - Advances of purchases fixed assets
Perolehan aset tetap (447.346.516.952) 12 (268.292.683.055) Acquisition of fixed assets
Perolehan properti investasi (6.433.766.830) 13 - Acquisition of investment property
Perolehan aset takberwujud (1.530.254.572) 14 (4.469.529.390) Acquisitions of intangible aset
Hasil penjualan asset tetap 5.295.350.443 12 23.658.681.714 Proceeds from sale of fixed assets
Proceeds from sale of investment
Hasil penjualan properti investasi 4.540.640.523 13 - properties
Kas Neto Digunakan untuk Net Cash used in

Aktivitas Investasi (451.280.948.484) (279.103.530.731) Investing Activities
Arus Kas dari Aktivitas Pendanaan Cash Flows from Financing Activities
Penerimaan (pembayaran) utang Proceed (payment) from
bank jangka pendek 16.067.764.381.069 (7.765.099.128.102) short term bank loans
Pembayaran utang bank jangka panjang (18.251.736.141) (39.434.454) Payment from long term bank loans
Penerimaan (pembayaran) utang Proceed (payment) of consumer
pembiayaan konsumen 4.928.603.036 (1.274.802.338) Financing
untuk) Aktivitas Pendanaan 16.054.441.247.964 (7.766.413.364.894) Financing Activities
Kenaikan (Penurunan) Neto Kas dan Net Increase (Decrese) in Cash and
Setara Kas (1.458.718.642.465) 2.319.906.005.631 Cash Equivalent
Pengaruh perubahan kurs mata uang Effect of foreign exchange

asing terhadap kas dan setara kas 27.266.873.410 2.798.764.749 on cash and cash equivalents
Kas dan Setara Kas Cash and Cash Equivalents

Awal Tahun 9.006.511.660.936 6.683.806.890.556 at Beginning of the Year
Kas dan Setara Kas 5 Cash and Cash Equivalents

Akhir Tahun 7.575.059.891.881 9.006.511.660.936 at End of the Year
Catatan terlampir merupakan bagian yang tidak terpisahkan dari The accompanying notes form an integral part of these consolidated financial
laporan keuangan konsolidasian. statement.
7

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Tanggal 31 Desember 2018 dan As of December 31, 2018 and
Untuk Tahun Yang Berakhir Pada Tanggal Tersebu For The Year Then Ended
(Dinyatakan dalam Rupiah, kecuali dinyatakan lain) (Expressed in Rupiah, unless otherwise stated)
1. UMUM 1. GENERAL
Pendirian Perum BULOG Perum BULOG’s Establishment
Perusahaan Umum BULOG (Perum BULOG) adalah Badan Perusahan Umum BULOG ("Perum BULOG") is a State-
Usaha Milik Negara yang pendiriannya berdasarkan Owned Enterprise established by Government Regulation
Peraturan Pemerintah No. 7 Tahun 2003 tanggal 20 Januari No. 7 year 2003 dated January 20, 2003 and continued
2003 dilanjutkan berdirinya berdasarkan Peraturan established by Government Regulation No. 13 year 2016 on
Pemerintah No. 13 Tahun 2016 tentang Perusahaan Umum Perusahaan Umum (Perum) BULOG. Perum BULOG is a
(Perum) BULOG. Pendirian Perum BULOG tidak lepas dari result of transition or change in the legal status of Badan
keberadaan lembaga sebelumnya yaitu Badan Urusan Urusan Logistik (BULOG) from a Non-Departmental
Logistik (BULOG), karena Perum BULOG merupakan hasil Government Institution (LPND) to State-Owned Enterprise
peralihan kelembagaan atau perubahan status hukum (BUMN) in the form of Public Company.
Lembaga Pemerintah Non Departemen (LPND) BULOG
menjadi Badan Usaha Milik Negara (BUMN) dalam bentuk
Perusahaan Umum.
Sebagai LPND, Perum BULOG berada di bawah dan As LPND, BULOG is under and directly responsible to the
bertanggung jawab langsung kepada Presiden RI. Perum President of the Republic of Indonesia. BULOG was
BULOG didirikan berdasarkan Keputusan Presidium established based on Decree of Cabinet Presidium
Kabinet No. 114/U/Kep/5/1967 tanggal 10 Mei 1967, No. 114/U/Kep/5/1967 dated May 10, 1967, most recently
terakhir dengan Keputusan Presiden (Keppres) No. 103 by Presidential Decree No. 103 year 2001 dated September
Tahun 2001 tanggal 13 September 2001. 13, 2001.
Sesuai dengan Keputusan Presiden No. 103 Tahun 2001 According to presidential decree No.103 of 2001 dated
tanggal 13 September 2001 Pasal 40, BULOG mempunyai September 13, 2001 Article 40 of the President, BULOG has
tugas melaksanakan tugas pemerintah di bidang the task of carrying out government duties in the field of
manajemen logistik sesuai dengan ketentuan peraturan logistic management in accordance with applicable laws and
perundang-undangan yang berlaku. regulations.
Beberapa faktor yang mendorong terjadinya perubahan Several factors which caused the change of the legal status
status hukum Perum BULOG adalah: Pertama, perubahan of Perum BULOG is: First, changes in government food
kebijakan pangan Pemerintah dan pemangkasan tugas dan policy and purning tasks and functions of Perum BULOG,
fungsi Perum BULOG, sehingga hanya diperbolehkan that are only allowed to handle rice commodities and
menangani komoditas beras dan penghapusan monopoli removal of import monopolies such as that contained in
impor seperti yang tertuang dalam beberapa Keppres dan several Presidential and Decree of Ministry of Trade since
SK Menperindag sejak tahun 1998. Dalam Keppres terakhir 1998. In the last Presidential Decree about Perum BULOG,
tentang Perum BULOG menegaskan bahwa Perum BULOG asserted that Perum BULOG should switch its status to a
harus beralih status menjadi BUMN selambat-lambatnya state not later than May 2003. Second, the enactment of
Mei 2003. Kedua, diberlakukannya beberapa Undang- several new laws, especially Law No. 5 year 1999
Undang, khususnya UU No. 5 Tahun 1999 tentang larangan concerning the prohibition of monopolistic practices and Law
praktek monopoli dan UU No. 22 Tahun 2000 tentang No. 22 year 2000 on Regional Autonomy, which limit the
otonomi daerah yang membatasi kewenangan Pemerintah authority of the central government and the abolition of
Pusat dan dihapusnya instansi vertikal. Ketiga, masyarakat vertical institutions. Third, the public wants Bulog free from
luas menghendaki agar Perum BULOG terbebas dari unsur- elements that are contrary to the demands of reform,
unsur yang bertentangan dengan tuntutan reformasi bebas freedom from corruption and free from the influence of
dari KKN dan bebas dari pengaruh partai politik tertentu. certain political parties, so that Bulog will be able to institute
Keempat, perubahan ekonomi global yang mengarah pada an efficient, effective, transparent and able to satisfactorily
liberalisasi pasar, dalam Letter of Intent (LoI) yang serve the public interest. Fourth, global economic changes
ditandatangani oleh Pemerintah Indonesia dan IMF pada that lead to market liberalization, in the Letter of Intent (LoI)
tahun 1998, secara khusus ditekankan perlunya perubahan signed by the government of Indonesia and the IMF in 1998,
status hukum Perum BULOG agar menjadi lembaga yang its specifically emphasized the need to change the legal
lebih efisien, transparan, dan akuntabel. status of BULOG for an institution that is more efficient,
transparent and accountable.
Sebagai BUMN, Perum BULOG mempunyai dua bidang As a State State Owned Enterprise, Perum BULOG has two
tugas, yaitu tugas publik dan tugas komersial. Dalam tugas function, namely the public and commercial functions. In the
publik, Perum BULOG melaksanakan penugasan yang public function, Perum BULOG implement the Government
diberikan Pemerintah dalam hal pengamanan harga pangan instruction in the price of food security, management of the
pokok, pengelolaan cadangan pangan Pemerintah dan Government's food reserves and distribution of basic foods
distribusi pangan pokok kepada golongan masyarakat to specific communities (rastra).
tertentu (rastra).
Berdasarkan Peraturan Direksi Perubahan Umum (Perum) Based on the Regulation of the Board of Directors of General
Bulog No.PD-25/ DU100/II/ 2015 tentang Pedoman Program Amendment (Perum) of Bulog No.PD-25 / DU100 / II / 2015
Kemitraan dan Program Bina Lingkungan Perusahaan on the Guidelines of BULOG's Partnership Program and
BULOG. Perum BULOG telah menetapkan pedoman Corporate Development Program. Perum BULOG has set
pelaksanaan Program Kemitraan Bina Lingkungan (PKBL) guidelines for the implementation of Partnership Community
yang sesuai dengan prinsip-prinsip tata kelola perusahaan Development Program in accordance with the principles of
yang baik (Good Corporate Governance). Good Corporate Governance.
8

Untuk Tahun Yang Berakhir Pada Tanggal Tersebu For The Year Then Ended
1. UMUM (lanjutan) 1. GENERAL (continued)
Maksud, Tujuan, serta Kegiatan Usaha Purposes, Objectives, and Business Activities
Sesuai Peraturan Pemerintah No. 13 Tahun 2016 In accordance with Government Regulation No. 13 Year
tentang Perum BULOG maksud, tujuan, serta kegiatan 2016 on Perum BULOG purpose, objective, and business
usaha adalah sebagai berikut: activities are as follows:
1. Perum BULOG memiliki maksud dan tujuan untuk turut 1. Perum BULOG has purposes and objectives to
melaksanakan dan menunjang kebijakan dan program participate in executing and supporting the Central and
Pemerintah dan Pemerintah Daerah di bidang ekonomi Local Government policy and program in the field of
dan pembangunan nasional pada umumnya terutama di national economy and development in general primarly
bidang logistik pangan serta optimalisasi pemanfaatan in the field of logistics business food and optimizing
sumber daya perusahaan untuk menghasilkan barang company resources utilization to produce of goods and
dan jasa berdasarkan prinsip pengelolaan Perusahaan services based on the principles of good corporate
yang sehat. governance.
2. Dalam melaksanakan maksud dan tujuan, Perum 2. In carrying out the purposes and objectives, Perum
BULOG melakukan kegiatan usaha utama: BULOG conducted the main business activities:
a. Produksi, yang meliputi: a. Production, which include:

1). Budi daya pangan beras dan pangan lainnya; 1). The food cultivation in rice and others; and
dan
2). Industri berbasis pangan beras dan pangan 2). Food-based industries in rice and others.
lainnya.
b. Perdagangan, yang meliputi: b. Trading, which include:

1) Perdagangan hasil budi daya pangan beras 1) Trade of product of the food cultivation in rice
dan pangan lainnya; dan and others; and
2) Perdagangan hasil industri berbasis pangan 2) Trade of product of food-based industries in
beras dan pangan lainnya serta turunannya. rice and others.
c. Jasa, yang meliputi: c. Services, which include:
1) Pengelolaan dan pengembangan logistik; 1) Logistic mangement and development;

2) Jasa pengolahan, jasa penyimpanan, jasa 2) Food Processing, storage, care, and
perawatan, dan jasa distribusi pangan beras distribution services in rice and others;
dan pangan lainnya;
3) Pendidikan dan pelatihan di bidang pangan 3) Education and training in the field of food
dan logistik; and logistic;
4) Penelitian dan pengembangan di bidang 4) Research and development in the field of
pangan dan logistik; food and logistic;
5) Pengelolaan dan pelaksanaan angkutan dan 5) Management and implementation of
distribusi; transportaion and distribution;
6) Survey dan analisa terhadap mutu dan 6) Surveying and analysis on food quality and
keamanan pangan; dan safety; and
7) Perawatan kualitas dan sanitasi pangan. 7) Quality care and food sanitation.
3. Selain kegiatan usaha utama, sepanjang mendukung 3. In addition to the main business activities, as long as
secara finansial terhadap kegiatan usaha utama, Perum financially supporting the main business activities, the
BULOG dapat melaksanakan kegiatan usaha dalam Perum BULOG can carry out business activities to
rangka optimalisasi pemanfaatan potensi sumber daya optimize the utilization of potential resources owned
yang sudah dimiliki dan/atau dikuasai Perum BULOG and/or controlled by the National Logistics Agency as
sebagaimana ditetapkan Menteri. set by the Minister
Selain itu, berdasarkan Instruksi Presiden (Inpres) No. 5 In addition, Presidential Instruction (Inpres) No. 5 Year 2015
Tahun 2015 tanggal 15 Maret 2015 tentang Kebijakan dated March 17, 2015 concerning National Rice Policy
Perberasan Nasional dalam instruksi No. 46 disebutkan instruction No. 46 stated that the implementation of grain
bahwa pelaksanaan pembelian gabah oleh pemerintah purchases by the national government is to be conducted by
secara nasional dilakukan oleh Perum BULOG. the Perum BULOG.
Perum BULOG berdomisili di Jakarta dan memiliki 26 Divisi Perum BULOG is domiciled in Jakarta and has 26 regional
Regional yang tersebar di Wilayah Indonesia. Kantor pusat divisions dispersed in the Region of Indonesia. Its head
Perum BULOG beralamat di Jl. Gatot Subroto No. 49 office is located at Jl. Gatot Subroto No. 49 South Jakarta
Jakarta Selatan 12950. 12950.
9
PERUSAHAAN UMUM BULOG DAN ENTITAS ANAK PERUSAHAAN UMUM BULOG AND ITS SUBSIDIARIES
Untuk Tahun Yang Berakhir Pada Tanggal Tersebut For The Year Then Ended
Entitas Anak The Subsidiaries
PT Jasa Prima Logistik BULOG PT Jasa Prima Logistik BULOG
Berdasarkan Akta Notaris Muchlis Patahna, SH, No. 46 Based on Notarial Deed No. 46 dated January 31, 2013 of
tanggal 31 Januari 2013 Perum BULOG, Koperasi Pegawai Muchlis Patahna, SH, Perum BULOG, Koperasi Pegawai
BULOG Seluruh Indonesia (Kopelindo), dan Yayasan Bina BULOG Seluruh Indonesia (Kopelindo), and Yayasan Bina
Sejahtera Warga BULOG (Yabinstra) telah mendirikan Sejahtera Warga BULOG (Yabinstra) established a
perusahaan bernama PT Jasa Prima Logistik BULOG (PT company named PT Jasa Prima Logistik BULOG
JPLB), yang bergerak di bidang jasa angkutan, dengan (PT JPLB), which is engaged in freight services, with total
jumlah modal ditempatkan sebesar issued share capital Rp 26,483,000,000, 95% shares of
Rp 26.483.000.000, dimana 95% saham diambil bagian which was subscribed by Perum BULOG.
oleh Perum BULOG.
Berdasarkan Akta Notaris Muchlis Patahna, SH, No. 75 Based on Notarial Deed No. 75 dated May 28, 2014 of
tanggal 28 Mei 2014 para pemegang saham telah Muchlis Patahna, SH, the shareholders approved to
menyetujui peningkatan modal ditempatkan dan disetor increase the issued and fully paid capital of PT JPLB from
penuh PT JPLB yang semula berjumlah Rp 26,483,000,000, which consist of 26,483 shares to
Rp 26.483.000.000 yang terdiri dari 26.483 saham menjadi Rp105,930,000,000, which consist of 105,930 shares.
sejumlah Rp 105.930.000.000 yang terdiri dari 105.930 Related to this, the shareholders contributed cash
saham. Terkait dengan hal tersebut, para pemegang saham amounting to Rp 65,433,407,067 and fixed assets
menyerahkan sejumlah uang sebesar amounting to Rp 14,013,592,933.
Rp 65.433.407.067 dan aset tetap sebesar
Rp 14.013.592.933.
PT Gendhis Multi Manis PT Gendhis Multi Manis
Berdasarkan Akta Notaris Nanang Karma, SH., M.Hum., Based on Notarial Deed No. 1 dated October 4, 2016 of
No. 1 tanggal 4 Oktober 2016 Perum BULOG telah Nanang Karma, SH., M.Hum, Perum BULOG acquired 70%
melakukan akuisisi atas 70% saham PT Gendhis Multi ownership in PT Gendhis Multi Manis (PT GMM) from Mr.Lie
Manis (PT GMM) dari Tuan Lie Kamadjaja, Nona Petronella Kamadjaja, Ms. Victoria Cendy Marshall, and Mrs. Claudia.
Victoria Cendy Marshall, dan Nyonya Claudia. Akuisisi ini This acquisition has been approved by the Ministry of State-
telah mendapatkan persetujuan dari Menteri Badan Usaha Owned Enterprises in its Approval Letter
Milik Negara dengan Surat Persetujuan No. S-575/MBU/09/2016 dated September 30, 2016.
No. S-575/MBU/09/2016 tanggal 30 September 2016.
Pada tanggal 31 Desember 2018 dan 2017, susunan As of December 31, 2018 and 2017, the Susidiaries' details
Entitas Anak adalah sebagai berikut: are as follows:
Persentase kepemilikan/ Total aset (sebelum eliminasi)/

Tanggal beroperasi/ Percentage of ownership Total assets (before elimination)
Nama Entitas Anak/ Start of Commercial Kegiatan usaha/
Name of Subsidiaries Lokasi/Domicile Operations Business activities 2018 2017 2018 2017
Kepemilikan langsung/
Direct ownership
PT Jasa Prima Logistik

BULOG Jakarta 1 September 2014/ Jasa angkutan/ 95% 95% 763.892.923.816 708.645.472.692
September 1, 2014 Freigh services
PT Gendhis Multi Manis Blora 1 Nopember 2010/ Industri penghasil gula/ 70% 70% 1.326.240.749.615 1.083.184.120.944
November 1, 2010 Sugar industry
Dewan Pengawas dan Direksi Board of Trustess and Directors
Berdasarkan Keputusan Menteri Negara Badan Usaha Milik Based on the Decree of State Enterprises Minister
Negara No. SK-267/MBU/10/2018 tanggal No. SK-267/MBU/10/2018 dated October 10, 2018 for 2018
10 Oktober 2018 untuk tahun 2018 dan and No. SK-259/MBU/11/2017 dated 28 November 2017
No. SK-259/MBU/11/2017 tanggal 28 Nopember 2017 untuk for 2017 regarding the Dismissal and Appointment of
tahun 2017 tentang Pemberhentian dan Pengangkatan Members of the Board of Directors, the composition of the
Anggota-Anggota Direksi Perusahaan Umum (Perum) Boards of Trustees and Directors of Perum BULOG are as
BULOG, susunan Dewan Pengawas dan Direksi Perum follows:
BULOG adalah sebagai berikut:
10
Dewan Pengawas dan Direksi (lanjutan) Board of Trustess and Directors (continued)
2018 2017
Dewan Pengawas Board of Trustees
Ketua Dewan Pengawas Teten Masduki Sudar Sastro Atmojo Chairman of the Supervisory Board
Dewan Pengawas Firmansyah N Nazaroedin Firmansyah N Nazaroedin Trustee
Dewan Pengawas Musdhalifah Machmud Musdhalifah Machmud Trustee
Dewan Pengawas Srie Agustina Srie Agustina Trustee
Dewan Pengawas Spudnik Sujono K Panggah Susanto Trustee
Dewan Pengawas - Spudnik Sujono K Trustee
Direksi Directors
Direktur Utama Budi Waseso Djarot Kusumayakti President Director
Direktur Triyana Pardiman Director
Direktur Tri Wahyudi Saleh Tri Wahyudi Saleh Director
Direktur Judith Jubilina D. Karyawan Gunarso Director
Direktur Bagya Mulyanto Febriyanto Director
Direktur Imam Subowo Imam Subowo Director
Direktur Bachtiar Andrianto wahyu Adi Director
Jumlah kompensasi yang diterima Dewan The amount of compensation received by the members of
Pengawas/Komisaris dan Direksi Perum BULOG dan Entitas the Boards of Trustees/Commissioners and Directors of
Anak adalah sebagai berikut: Perum BULOG and Subsidiaries are as follows:
2018 2017
Pengawas 10.998.043.672 8.510.171.394 Trustees

Direksi 29.913.336.745 21.233.120.147 Directors
Total 40.911.380.417 29.743.291.541 Total
Susunan Organisasi Chart of Organization
Perum BULOG dipimpin oleh Direktur Utama yang Perum BULOG is headed by a President Director who
membawahi enam Direktur, yaitu Direktur Pengadaan, oversees five Directors, the Director of Procurement,
Direktur Operasional dan Pelayanan Publik, Direktur Director of Operational and Public Services, Director of
Komersial, Direktur Keuangan, Direktur SDM dan Umum, Commercial, Director of Finance, Director of Human
dan Direktur Pengembangan Bisnis dan Industri dimana Resources and General, and Director of Business and
masing-masing Direktur tersebut membawahi beberapa Industry Development where such Directors are in charge
Divisi. Fungsi pengawasan dilaksanakan oleh Satuan of several divisions. Oversight function is exercised by the
Pengawas Intern (SPI) Perum BULOG yang bertanggung Internal Audit Unit (IAU) of Perum BULOG that is
jawab kepada Direktur Utama. Untuk pelaksanaan kegiatan responsible to the President Director. For the
operasional di daerah-daerah, dibentuk Divisi Regional implementation of operational activities in the areas,
(Divre) yang dipimpin oleh seorang Kepala Divisi Regional. Regional Division (Divre) is established led by Regional
Setiap Divre (kecuali Divre Bali) memiliki sub unit pelaksana Division Head. Each Regional Division (except Divre Bali)
operasional, yaitu Sub Divisi Regional (Sub Divre) yang have sub operational implementation which is unit, the Sub
dipimpin oleh seorang Kepala Sub Divisi Regional. Regional Division (Sub Divre) led by a Regional Sub
Division Head.
Jumlah karyawan Perum BULOG dan Entitas Anak pada The number of employees of Perum BULOG and
tanggal 31 Desember 2018 dan 2017 masing-masing Subsidaries as of December 31, 2018 and 2017 are 4,892
adalah 4.892 dan 4.923 orang (tidak diaudit). and 4,923, respectively (unaudited).
11
Susunan Organisasi (lanjutan) Chart of Organization (continued)
Unit Bisnis Business Unit

1. Berdasarkan Keputusan Direksi 1. Based on the Directors’ Decree
No. KD-226/DS200/08/2004 tentang Pembentukan No. KD-226/DS200/08/2004 concerning establishment
Proyek Bisnis Usaha Jasa Survey dan Pemberantasan of Survey and Pest Control Service Business (UB
Hama. Keputusan Direksi ini telah mengalami Ujastasma). This Directors’ decision has been
beberapa kali perubahan, terakhir dengan Peraturan amended several times, most recently by Directors
Direksi No. PD- 29/DS200/07/2016 tanggal 22 Juli Regulation No. PD-29/DS200/07/2016 dated July 22,
2016 tentang Unit Bisnis Jasa Survey dan 2016 concerning Survey and Pest Control Services
Pemberantasan Hama. Business Unit.
1. Berdasarkan Keputusan Direksi 2. Based on the Directors’ Decree
No. KD-227/DS200/08/2004 tentang Pembentukan No. KD-227/DS200/08/2004 concerning
Proyek Bisnis Optimalisasi Aset. Keputusan Direksi ini establishment of Assets Optimization Business
telah mengalami beberapa kali perubahan, terakhir Project (UB Opaset). This Directors’ decision has been
dengan Peraturan Direksi No. PD-28/DS200/07/2016 amended several times, most recently by Directors
tanggal 22 Juli 2016 tentang Unit Bisnis Optimalisasi Regulation No. PD- 28/DS200/07/2016 dated July 22,
Aset. 2016 concerning Assets Optimization Business Unit.
Unit bisnis tersebut berada dibawah pembinaan dan The below business units are under the supervision and are
bertanggung jawab langsung kepada Direktur Komersial. directly responsible to the Director for Commercial.
1. Berdasarkan Peraturan Direksi Perum BULOG nomor 1. Based on Directors Regulation
PD-17/DS200/06/2016 tanggal 10 Juni 2016 tentang No. PD17/DS200/06/2016 of Perum BULOG dated
Unit Pengelolaan. Dengan berlakunya Peraturan ini, June 10, 2016 concerning Management Unit. With the
Peraturan Direksi Perusahaan Umum (Perum) BULOG enactment of this Regulation, Directors Regulation No.
Nomor PD-11/DS200/06/2012 tanggal 29 Juni 2012 PD-11/DS200/06/2012 dated 29 June 2012 of Perum
Tentang Unit Bisnis Pengelolaan Gabah Beras dicabut BULOG concerning Rice Grain Management Business
dan dinyatakan tidak berlaku. Unit was revoked and declared null and void.
2. Berdasarkan Peraturan Direksi Perum Bulog Nomor 2. Based on Directors Regulation

PD-06/DS000/02/2018 tanggal 5 Pebruari 2018 No. PD-06/DS000/02/2018 dated February 5, 2018
tentang Penutupan Unit Bulogmart. Dengan concerning the closing of BULOGmart Unit. With the
berlakunya Peraturan ini, maka: enactment of this Regulation, then:
a. Peraturan Direksi Perum BULOG nomor a. Directors Regulation No. PD-12/ DS200/06/2012
PD-12/DS200/06/2012 tentang Unit Bisnis of Perum BULOG concerning BULOGMart
BULOGMart beserta perubahannya. Business Unit and its amendments.
b. Keputusan Direksi Perusahaan Umum (Perum) b. Directors Decision of Perusahaan Umum
BULOG Nomor KD-162/DS200/07/2012 tentang (Perum) BULOG No. KD-162 / DS200 / 07/2012
Penetapan Area Wilayah kerja Unit Bisnis concerning Determination of Work Area of
BULOGMart. BULOGMart Business Unit.
c. Standar Operasional Prosedur Pencatatan c. Standard Operating Procedures for UB
Transaksi Keuangan UB BULOGMart Nomor BULOGMart Financial Transactions Accounting
SOP-15/DS300/10/2014. No. SOP-15/DS300/10/2014.
Dicabut dan dinyatakan tidak berlaku. Were revoked and declared null and void.
Penyelesaian Laporan Keuangan Konsolidasian Completion of the Consolidated Financial Statements

Manajemen Perum BULOG bertanggung jawab atas Perum BULOG's management is responsible for the
penyusunan laporan keuangan konsolidasian yang telah preparation of these consolidated financial statements that
diselesaikan pada tanggal 26 Pebruari 2019. have been completed and authorized for issue on
Feburary 26, 2019.
12
2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Dasar Penyajian Laporan Keuangan Konsolidasian Basis Of Preparation Of Consolidated Financial
Statements
Laporan keuangan konsolidasian telah disusun sesuai The consoliidated financial statements have been prepared
dengan Standar Akuntansi Keuangan Indonesia ("SAK"), in accordance with Indonesian Financial Accounting
yang terdiri dari Pernyataan Standar Akuntansi Keuangan Standards ("SAK"), which comprise the Statement of
("PSAK") dan Interpretasi Standar Akuntansi Keuangan Financial Accounting Standards ("PSAK") and
("ISAK") yang dikeluarkan oleh Dewan Standar Akuntansi Interpretations of Statement of Financial Accounting
Keuangan Ikatan Akuntan Indonesia ("DSAK"). Standars ("ISAK") issued by the Financial Accounting
Standards Board of the Indonesian Institute of Accountants
("DSAK").
Laporan keuangan konsolidasian disusun berdasarkan The consolidated financial statements have been prepared
PSAK No. 1 (2015), “Penyajian Laporan Keuangan”. in accordance with PSAK No. 1 (2015), “Presentation of
Financial Statements”.
Kebijakan akuntansi yang diterapkan dalam penyusunan The accounting policies adopted in the preparation of the
laporan keuangan konsolidasian adalah selaras dengan consolidated financial statements are consistent with those
kebijakan akuntansi yang diterapkan dalam penyusunan made in the preparation of the Perum BULOG and its
laporan keuangan konsolidasian Perum BULOG dan Entitas Subsidiaries’ consolidated financial statements for the year
Anak untuk tahun yang berakhir pada tanggal ended December 31, 2017, except for the adoption of
31 Desember 2017, kecuali bagi penerapan beberapa several amended SAKs. As disclosed further in the relevant
PSAK yang telah direvisi. Seperti diungkapkan dalam succeeding Notes, several amended and published
catatan-catatan terkait atas laporan keuangan, beberapa accounting standards were adopted effective January 1,
standar akuntansi yang telah direvisi dan diterbitkan, 2018.
diterapkan efektif tanggal 1 Januari 2018.
Efektif 1 Januari 2018, Perum BULOG dan Entitas Anak Effective January 1, 2018, Perum BULOG and its
menerapkan Amandemen PSAK No. 2 (2016), “Laporan Subsidiaries adopted Amendments to PSAK No. 2 (2016),
Arus Kas: Prakarsa Pengungkapan”. “Statement of Cash Flows: Disclosure Initiatives”.
Amandemen ini, mensyaratkan entitas untuk menyediakan The amendments require entities to provide disclosures that
pengungkapan yang memungkinkan pengguna laporan enable users of financial statements to evaluate changes in
keuangan untuk mengevaluasi perubahan pada liabilitas liabilities arising from financing activities, including both
yang timbul dari aktivitas pendanaan, termasuk perubahan changes arising from cash flows and non-cash changes.
yang timbul dari arus kas maupun perubahan nonkas.
The disclosure required by Amendments to PSAK No. 2
Pengungkapan yang di syaratkan Amandemen PSAK No. 2 (2016) has been disclosed in Note 37.
(2016) diungkapkan pada Catatan 37 atas laporan
keuangan konsolidasian.
Laporan keuangan konsolidasian, kecuali untuk laporan The consolidated financial statements, except for the
arus kas konsolidasian, disusun berdasarkan dasar akrual consolidated statement of cash flows, have been prepared
dengan menggunakan konsep biaya perolehan, kecuali on the accrual basis using the historical cost basis of
beberapa akun tertentu disusun berdasarkan pengukuran accounting, except for certain accounts which are measured
lain sebagaimana diuraikan dalam kebijakan akuntansi on the bases described in the related accounting policies for
masing-masing akun tersebut. those accounts.
Laporan arus kas konsolidasian menyajikan penerimaan The consolidated statement of cash flows presents receipts
dan pengeluaran kas dan setara kas yang dikelompokkan and payments of cash and cash equivalents classified into
ke dalam aktivitas operasi, investasi dan pendanaan. Arus operating, investing and financing activities. The cash flows
kas dari aktivitas operasi disajikan dengan menggunakan from operating activities are presented using the indirect
metode tidak langsung. method.
Mata uang pelaporan yang digunakan dalam penyusunan The presentation currency used in the preparation of the
laporan keuangan konsolidasian adalah Rupiah, yang consolidated financial statements is the Indonesian Rupiah,
merupakan mata uang fungsional Perum BULOG dan which is Perum BULOG and its Subsidiaries’ functional
Entitas Anak. currency.
Penyusunan laporan keuangan konsolidsian sesuai dengan The preparation of consolidated financial statements in
Standar Akuntansi Keuangan di Indonesia mengharuskan conformity with Indonesian Financial Accounting Standards
penggunaan estimasi dan asumsi. Hal tersebut juga requires the use of certain critical accounting estimates. It
mengharuskan manajemen untuk membuat pertimbangan also requires management to exercise its judgement in the
dalam proses penerapan kebijakan akuntansi Perum process of applying Perum BULOG and its Subsidiaries
BULOG. Area yang kompleks atau memerlukan tingkat accounting policies. The areas involving a higher degree of
pertimbangan yang lebih tinggi atau area di mana asumsi judgement or complexity, or areas where assumptions and
dan estimasi dapat berdampak signifikan terhadap laporan estimates are significant to the consolidated financial
keuangan konsolidasian diungkapkan di Catatan 3. statements are disclosed in Note 3.
13
2. IKHTISAR KEBIJAKAN AKUNTANSI PENTING (lanjutan) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(continued)
Prinsip-Prinsip Konsolidasian Principles of Consolidation
Laporan keuangan konsolidasian meliputi laporan The consolidated financial statements incorporate the
keuangan konsolidasian Perum BULOG dan entitas-entitas consolidated financial statements of Perum BULOG and
yang dikendalikan secara langsung ataupun tidak langsung entities in which Perum BULOG has the ability to directly or
oleh Perum BULOG. indirectly exercise control.
Laporan keuangan Entitas anak disusun dengan periode The financial statements of the Subsidiaries are prepared for
pelaporan yang sama dengan Perum BULOG. Kebijakan the same reporting period as Perum BULOG. The
akuntansi yang digunakan dalam penyajian laporan accounting policies adopted in preparing the consolidated
keuangan konsolidasian telah diterapkan secara konsisten financial statements have been consistently applied by
oleh Perum BULOG dan Anak Perusahaan, kecuali Perum BULOG and its Subsidiaries, unless otherwise
dinyatakan lain. stated.
Seluruh saldo akun dan transaksi yang material, termasuk All material intercompany accounts and transactions,
keuntungan atau kerugian yang belum direalisasi, jika ada, including unrealized gains or losses, if any, are eliminated
dieliminasi untuk mencerminkan posisi keuangan dan hasil to reflect the financial position and the results of operations
operasi Perum BULOG dan Entitas Anak sebagai satu of Perum BULOG and its Subsidiaries as one business
kesatuan usaha. entity.
Entitas-entitas anak dikonsolidasi secara penuh sejak Subsidiaries are fully consolidated from the date of
tanggal akuisisi, yaitu tanggal Perum BULOG memperoleh acquisition, being the date on which Perum BULOG obtains
pengendalian, sampai dengan tanggal Perum BULOG control, and continue to be consolidated until the date when
kehilangan pengendalian. Pengendalian dianggap ada such control ceases. Control is presumed to exist if Perum
ketika Perum BULOG memiliki secara langsung atau tidak BULOG owns, directly or indirectly through subsidiaries,
langsung melalui entitas-entitas anak, lebih dari setengah more than half of the voting power of an entity.
kekuasaan suara entitas.
Transaksi antar perusahaan, saldo dan keuntungan yang Inter-company transactions, balances and unrealized gains
belum direalisasi dari transaksi antar Perum BULOG dan on transactions between Perum BULOG and its
Entitas Anak yang belum direalisasi dieliminasi. Kerugian Subsidiaries companies are eliminated. Unrealized losses
yang belum direalisasi juga dieliminasi. Kebijakan akuntansi are also eliminated. Accounting policies of subsidiaries
entitas anak diubah jika diperlukan untuk memastikan have been changed where necessary to ensure consistency
konsistensi dengan kebijakan akuntasi yang diadopsi with the policies adopted by Perum BULOG and its
Perum BULOG dan Entitas Anak. Subsidiaries.
Secara spesifik, Perum Bulog mengendalikan investee jika Specifically, Perum BULOG controls an investee if and only
dan hanya jika Perum Bulog memiliki seluruh hal berikut ini: if Perum BULOG has:
a. Kekuasaan atas investee (misal, hak yang ada a. Power over the investee (i.e., existing rights that give it
memberikan kemampuan kini untuk mengarahkan the current ability to direct the relevant activities of the
aktivitas relevan investee). investee).
b. Eksposur atau hak atas imbal hasil variabel dari b. Exposure, or rights, to variable returns from its
keterlibatannya dengan investee. involvement with the investee, and
c. Kemampuan untuk menggunakan kekuasaannya atas c. The ability to use its power over the investee to affect
investee untuk mempengaruhi jumlah imbal hasil its returns.
investor.
Ketika Perum BULOG memiliki kurang dari hak suara When Perum BULOG has less than a majority of the voting
mayoritas, Perum BULOG dapat mempertimbangkan or similar right of an investee, Perum BULOG considers all
semua fakta dan keadaan yang relevan dalam menilai relevant facts and circumstances in assessing whether it
apakah memiliki kekuasaan atas investee tersebut: has power over an investee, including:
a. Pengaturan kontraktual dengan pemilik hak suara a. The contractual arrangement with the other vote
yang lain. holders of the investee.
b. Hak yang timbul dari pengaturan kontraktual lain. b. Rights arising from other contractual arrangements.
c. Hak suara dan hak suara potensial Perum BULOG c. Perum BULOG’s and its Subsidiaries’ voting rights and
potential voting rights.
14

(continued)
Prinsip-Prinsip Konsolidasian (lanjutan) Principles of Consolidation (continued)
Perum BULOG menilai kembali apakah investor Perum BULOG re-assesses whether or not it controls an
mengendalikan investee jika fakta dan keadaan investee if facts and circumstances indicate that there are
mengindikasikan adanya perubahan terhadap satu atau changes to one or more of the three elements of control.
lebih dari tiga elemen pengendalian. Konsolidasi atas Consolidation of a subsidiary begins when Perum BULOG
entitas anak dimulai ketika Perum BULOG memiliki obtains control over the subsidiary and ceases when Perum
pengendalian atas entitas anak dan berhenti ketika Perum BULOG loses control of the subsidiary. Assets, liabilities,
BULOG kehilangan pengendalian atas entitas anak. Aset, income and expenses of a subsidiary acquired or disposed
liabilitas, penghasilan dan beban atas entitas anak yang of during the period are included in the consolidated
diakuisisi atau dilepas selama periode termasuk dalam statement of profit or loss and other comprehensive income
laporan laba rugi dan penghasilan komprehensif lain from the date Perum BULOG gains control until the date
konsolidasian dari tanggal Perum BULOG memperoleh Perum BULOG ceases to control the subsidiary.
pengendalian sampai dengan tanggal Perum BULOG
menghentikan pengendalian atas entitas anak.
Laba atau rugi dan setiap komponen atas penghasilan Profit or loss and each component of other comprehensive
komprehensif lain diatribusikan pada pemegang saham income (OCI) are attributed to the equity holders of the
entitas induk Perum BULOG dan pada kepentingan non parent of Perum BULOG and to the non-controlling interest
pengendali (“KNP”), walaupun hasil di kepentingan non (“NCI”), even if this results in the NCI having a deficit
pengendali mempunyai saldo defisit. balance.
Transaksi antar perusahaan, saldo dan keuntungan serta Inter-company transactions, balances, and unrealized gains
kerugian yang belum direalisasi dari transaksi antar Perum and losses on transactions between Perum BULOG and its
BULOG dan Anak Perusahaan dieliminasi. Semua aset dan Subsidiaries are eliminated. All intra-group assets and
liabilitas, ekuitas, penghasilan, beban dan arus kas liabilities, equity, income, expenses and cash flows relating
berkaitan dengan transaksi antar anggota Perum BULOG to transactions between Perum BULOG and its Subsidiaries
juga akan dieliminasi secara penuh dalam proses are also eliminated in full on consolidation. When necessary,
konsolidasi. Bila diperlukan, penyesuaian dilakukan pada adjustments are made to the financial statements of
laporan keuangan entitas anak agar kebijakan akuntansinya subsidiaries to bring their accounting policies in line with
sesuai dengan kebijakan akuntansi Perum BULOG. Perum BULOG’s accounting policies.
Transaksi dengan kepentingan nonpengendali yang tidak Transactions with NCI that do not result in loss of control are
mengakibatkan hilangnya pengendalian merupakan accounted for as equity transactions. The difference
transaksi ekuitas. Selisih antara nilai wajar imbalan yang between the fair value of any consideration paid and the
dibayar dan bagian yang diakuisisi atas nilai tercatat aset relevant share acquired of the carrying value of net assets
neto entitas anak dicatat pada ekuitas. Keuntungan atau of the subsidiary is recorded in equity. Gains or losses on
kerugian pelepasan kepentingan non pengendali juga disposals to NCI are also recorded in equity.
dicatat pada ekuitas.
Perubahan kepemilikan di pada entitas anak, tanpa A change in the ownership interest of a subsidiary, without
kehilangan pengendalian, dihitung sebagai transaksi a loss of control, is accounted for as an equity transaction.
ekuitas. Jika Perum BULOG kehilangan pengendalian atas If Perum BULOG and its Subsidiaries loses control over a
entitas anak, maka Perum BULOG : subsidiary, it:
a. menghentikan pengakuan aset (termasuk setiap a. derecognizes the assets (including goodwill) and
goodwill) dan liabilitas Entitas anak; liabilities of the Subsidiary;
b. menghentikan pengakuan jumlah tercatat setiap KNP; b. derecognizes the carrying amount of any NCI;
c. menghentikan pengakuan akumulasi selisih penjabaran, c. derecognizes the cumulative translation differences,
yang dicatat di ekuitas, bila ada; recorded in equity, if any;
d. mengakui nilai wajar pembayaran yang diterima; d. recognizes the fair value of the consideration received;
e. mengakui setiap sisa investasi pada nilai wajarnya; e. recognizes the fair value of any investment retained;
f. mengakui setiap perbedaan yang dihasilkan sebagai f. recognizes any surplus or deficit in profit or loss; and
keuntungan atau kerugian sebagai laba rugi; dan g. reclassifies the parent’s share of components previously
g. mereklasifikasi ke laba rugi proporsi keuntungan dan recognized in OCI to profit or loss or retained earnings,
kerugian yang telah diakui sebelumnya dalam as appropriate, as would be required if Perum BULOG
penghasilan komprehensif lain atau saldo laba, begitu had directly disposed of the related assets or liabilities.
pula menjadi persyaratan jika Perum BULOG akan
melepas secara langsung aset atau liabilitas yang
terkait.
15

(continued)
Prinsip-Prinsip Konsolidasian (lanjutan) Principles of Consolidation (continued)
KNP mencerminkan bagian atas laba atau rugi dan aset NCI represents the portion of the profit or loss and net assets
bersih dari Entitas anak yang tidak dapat diatribusikan, of the Subsidiary not attributable directly or indirectly to the
secara langsung maupun tidak langsung, pada Perum Perum BULOG, which are presented in the consolidated
BULOG, yang masing-masing disajikan dalam laporan laba statement of profit or loss and other comprehensive income
rugi dan penghasilan komprehensif lain konsolidasian dan and under the equity section of the consolidated statement
dalam ekuitas pada laporan posisi keuangan konsolidasian, of financial position, respectively, separately from the
terpisah dari bagian yang dapat diatribusikan kepada corresponding portion attributable to the owner of the parent
pemilik entitas induk. entity.
Kombinasi bisnis Business Combination
Kombinasi bisnis, dicatat dengan menggunakan metode Business combinations, are accounted for using the
akuisisi. Biaya perolehan dari sebuah akuisisi diukur pada acquisition method. The cost of an acquisition is measured
nilai agregat imbalan yang dialihkan, diukur pada nilai wajar as the aggregate of the consideration transferred, measured
pada tanggal akuisisi dan jumlah setiap KNP pada pihak at fair value on acquisition date and the amount of any NCI
yang diakuisisi. Untuk setiap kombinasi bisnis, Perum in the acquiree. For each business combination,
BULOG memilih apakah mengukur KNP pada entitas yang Perum BULOG and its Subsidiaries elects whether it
diakuisisi baik pada nilai wajar ataupun pada proporsi measures the NCI in the acquiree either at fair value or at
kepemilikan KNP atas aset neto yang teridentifikasi dari the proportionate share of the acquiree’s identifiable net
entitas yang diakuisisi. Biaya-biaya akuisisi yang timbul assets. Acquisition costs incurred are directly expensed and
dibebankan langsung dan disertakan dalam beban included in administrative expenses.
administrasi.
Selisih lebih antara penjumlahan imbalan yang dialihkan The excess of the aggregate of the consideration transferred
dan jumlah yang diakui untuk kepentingan non-pengendali and the amount recognized for non-controlling interest over
dengan aset teridentifikasi dan liabilitas yang diambil-alih the net indentified assets and liabilities assumed is recorded
(aset neto) dicatat sebagai goodwill. Dalam kondisi as goodwill. In contrary, the Company recognizes the lower
sebaliknya, Perusahaan mengakui selisih kurang tersebut amount as gain in profit or loss on the date of acquisition.
sebagai keuntungan dalam laba rugi pada tanggal akuisisi.
Setelah pengakuan awal, goodwill diukur pada nilai tercatat After initial recognition, goodwill is measured at cost less
dikurangi akumulasi kerugian penurunan nilai. Untuk tujuan any accumulated impairment losses. For the purpose of
pengujian penurunan nilai, goodwill yang diperoleh dari impairment testing, goodwill acquired in a business
suatu kombinasi bisnis, sejak tanggal akuisisi dialokasikan combination is, from the acquisition date, allocated to each
kepada setiap Unit Penghasil Kas (UPK) dari Perum of Perum BULOG and its Subsidiaries’ Cash Generating
BULOG yang diharapkan akan memberikan manfaat dari Units (CGU) that are expected to give benefit from the
sinergi kombinasi tersebut, terlepas dari apakah aset atau combination, irrespective of whether other assets or
liabilitas lain dari pihak yang diakuisisi ditetapkan atas UPK liabilities of the acquiree are assigned to those CGU.
tersebut.
16

(continued)
Kombinasi bisnis (lanjutan) Business Combinations (continued)

Jika goodwill telah dialokasikan pada suatu UPK dan Where goodwill forms part of a CGU and part of the
operasi tertentu atas UPK tersebut dihentikan, maka operation within that CGU is disposed, the goodwill
goodwill yang diasosiasikan dengan operasi yang associated with the operation disposed is included in the
dihentikan tersebut termasuk dalam nilai tercatat operasi carrying amount of the operation when determining the gain
tersebut ketika menentukan keuntungan atau kerugian dari or loss on disposal of the operation. Goodwill disposed in
pelepasan. Goodwill yang dilepaskan tersebut diukur this circumstance is measured based on the relative values
berdasarkan nilai relatif operasi yang dihentikan dan bagian of the operation disposed and the portion of the CGU
dari UPK yang tersisa. retained.
Kas dan setara kas Cash and cash equivalent
Kas dan setara kas dalam laporan posisi keuangan terdiri Cash and cash equivalents in the statements of financial
dari kas, bank dan deposito jangka pendek yang jatuh position comprise cash on hand and in banks and short-term
tempo dalam waktu tiga bulan atau kurang, tidak dibatasi deposits with a maturity of three months or less, not used as
penggunaan dan tidak dijaminkan. collateral and unrestricted.
Untuk tujuan laporan arus kas Perum BULOG dan Entitas For the purpose of the Perum BULOG and its Subsidiaries's
Anak, kas dan setara kas terdiri dari kas, bank dan deposito statement of cash flows, cash and cash equivalents consist
jangka pendek seperti dijelaskan di atas. of cash and short-term deposits as defined above.
Kas dan setara kas yang akan digunakan membayar Cash and cash equivalents which will be used to pay
kewajiban yang akan jatuh tempo lebih dari satu tahun dari obligations maturing after one year from the end of the
akhir periode pelaporan disajikan sebagai bagian dari Aset reporting period are presented under the non-current asset
Tidak Lancar pada laporan posisi keuangan konsolidasian section of the consolidated statement of financial position.
Instrumen Keuangan Financial Instruments
Klasifikasi Classification
(i) Aset keuangan (i) Financial assets
Aset keuangan dalam lingkup PSAK No. 55 (Revisi Financial assets within the scope of PSAK No. 55
2014) diklasifikasikan sebagai (i) aset keuangan yang (Revised 2014) are classified as (i) financial assets at
diukur pada nilai wajar melalui laba rugi, (ii) pinjaman fair value through profit or loss, (ii) loans and
yang diberikan dan piutang, (iii) investasi dimiliki receivables, (iii) held-to-maturity investments, or (iv)
hingga jatuh tempo, (iv) atau aset keuangan tersedia available for sale financial assets, as appropriate.
untuk dijual, mana yang sesuai. Perum BULOG dan Perum BULOG and its Subsidiaries determines the
Entitas Anak menentukan klasifikasi aset keuangan classification of its financial assets at initial recognition
tersebut pada saat pengakuan awal dan, jika and, where allowed and appropriate, re-evaluates the
diperbolehkan dan sesuai, mengevaluasi kembali designation of such assets at each financial year end.
pengklasifikasian aset tersebut pada setiap akhir tahun
keuangan.
Aset keuangan Perum BULOG dan Entitas Anak terdiri Perum BULOG and its Subsidiaries's financial assets
dari kas dan setara kas, piutang usaha, piutang lain- consist of cash and cash equivalents, trade
lain, aset lain-lain tidak lancar, deposito yang receivables, other receivables, other current assets
dijaminkan, bank hasil penjualan, kas yang dijaminkan and other non-current assets, restricted time deposits,
diklasifikasikan sebagai pinjaman yang diberikan dan sale proceed in bank and restricted cash classified as
piutang. loans and receivables.
17

(continued)
Instrumen Keuangan (lanjutan) Financial Instruments (continued)
(ii) Liabilitas keuangan (ii) Financial liabilities
Liabilitas keuangan dalam lingkup PSAK No. 55 Financial liabilities within the scope of PSAK No. 55
(Revisi 2014) dapat dikategorikan sebagai (i) liabilitas (Revised 2014) are classified as (i) financial liabilities
keuangan yang diukur pada nilai wajar melalui laba at fair value through profit or loss, (ii) financial liabilities
rugi, (ii) liabilitas keuangan yang diukur pada biaya measured at amortized cost, or (iii) as derivatives
perolehan diamortisasi, atau (iii) derivati yang designated as hedging instruments in an effective
ditetapkan sebagai instrumen lindung nilai dalam hedge, as appropriate. Perum BULOG and its
lindung nilai yang efektif, mana yang sesuai. Perum Subsidiaries determine the classification of its financial
BULOG dan Entitas anak menentukan klasifikasi liabilities at initial recognition.
liabilitas keuangan pada saat pengakuan awal.
Liabilitas keuangan Perum BULOG dan Entitas Anak Perum BULOG and its Subsidiaries' financial liabilities
terdiri dari utang bank, utang usaha, dan biaya masih consist of short-term bank loans, trade payables
harus dibayar diklasifikasikan sebagai liabilitas accrued expenses, long-term bank loans and
keuangan yang dicatat berdasarkan biaya perolehan consumer financial payables classified as financial
diamortisasi. liabilities measured at amortized cost.
Pengakuan dan pengukuran Recognition and measurement
Aset keuangan pada awalnya diakui sebesar nilai Financial assets are recognized initially at fair value
wajarnya ditambah, dalam hal investasi yang tidak plus, in the case of investments not at fair value
diukur pada nilai wajar melalui laba rugi, biaya through profit or loss, directly attributable transaction
transaksi yang dapat diatribusikan secara langsung. costs. The subsequent measurement of financial
Pengukuran aset keuangan setelah pengakuan awal assets depends on their classification.
tergantung pada klasifikasi aset.
Pinjaman yang diberikan dan piutang adalah aset Loans and receivables are non-derivative financial
keuangan non-derivatif dengan pembayaran tetap atau assets with fixed or determinable payments that are not
telah ditentukan, yang tidak mempunyai kuotasi di quoted in an active market. Subsequent to initial
pasar aktif. Setelah pengakuan awal, aset keuangan recognition, such financial assets are carried at
tersebut dicatat pada biaya perolehan diamortisasi amortized cost using the effective interest rate method,
menggunakan metode suku bunga efektif, kecuali jika except for those assets in which the interest calculation
dampak diskonto tidak material, maka dinyatakan pada is not material.
biaya perolehan.
Liabilitas keuangan diakui pada awalnya sebesar nilai Financial liabilities are recognized initially at fair value
wajar, dan dalam hal pinjaman dan utang, termasuk and, in the case of loans and borrowings, inclusive of
biaya transaksi yang dapat diatribusikan secara directly attributable transaction costs.
langsung.
Liabilitas keuangan yang diukur pada biaya perolehan Financial liabilities measured at amortized cost are
diamortisasi, selanjutnya setelah pengakuan awal measured, subsequent to intial recognition, at
diukur pada biaya perolehan diamortisasi, amortized cost using the effective interest rate method
menggunakan suku bunga efektif kecuali jika dampak unless the effect of discounting would be immaterial, in
diskonto tidak material, maka dinyatakan pada biaya which case they are stated at cost.
perolehan.
Beban bunga diakui dalam "Beban keuangan" dalam The related interest expense is recognized within
laporan laba rugi. Keuntungan atau kerugian diakui "Finance Costs" in profit or loss. Gains and losses are
pada laporan laba rugi ketika liabilitas keuangan recognized in profit or loss when the financial liabilities
tersebut dihentikan pengakuannya dan melalui proses are derecognized as well as through the amortization
amortisasi. process.
18

(continued)
Saling hapus dari instrumen keuangan Offsetting of financial instruments
Aset keuangan dan liabilitas keuangan saling hapus dan Financial assets and financial liabilities are offset and the net
nilai bersihnya dilaporkan dalam laporan posisi keuangan amount reported in the consolidated statements of financial
jika, dan hanya jika, saat ini memiliki hak yang berkekuatan position if, and only if, there is a currently enforceable legal
hukum untuk melakukan saling hapus atas jumlah yang right to offset the recognized amounts and there is an
telah diakui dan terdapat maksud untuk menyelesaikan intention to settle on a net basis, or to realize the assets and
secara neto, atau untuk merealisasikan aset dan settle the liabilities simultaneously.
menyelesaikan secara bersamaan.
Nilai wajar instrumen keuangan Fair value of financial instruments
Nilai wajar instrumen keuangan yang diperdagangkan The fair values of financial instruments that are actively
secara aktif di pasar keuangan yang terorganisasi, jika ada, traded in organized financial markets, if any, are determined
ditentukan dengan mengacu pada kuotasi harga di pasar by reference to quoted market bid or ask prices at the close
aktif pada penutupan bisnis pada akhir periode pelaporan. of business at the end of the reporting period.
Untuk instrumen keuangan yang tidak memiliki pasar aktif, For financial instruments where there is no active market,
nilai wajar ditentukan dengan menggunakan teknik fair value is determined using valuation techniques. Such
penilaian. Teknik penilaian tersebut mencakup penggunaan techniques may include using recent arm's lenght market
transaksi-transaksi pasar yang wajar antara pihak-pihak transactions; reference to the current fair value of another
yang mengerti dan berkeinginan (arm's lenght market instrument that is substanstially the same; discounted cash
transactions); referensi atas nilai wajar terkini dari instrumen flow analysis; or orther valuation models.
lain yang secara substansial sama; analisa arus kas yang
didiskonto; atau model penilaian lain.
Biaya peroleh diamortisasi instrumen keuangan Amortized cost of financial instruments
Biaya perolehan diamortisasi dihitung dengan Amortized cost is computed using the effective interest rate
menggunakan metode tingkat bunga efektif dikurangi method less any allowance for impairment and principal
dengan penyisihan penurunan nilai dan pembayaran pokok repayment or reduction. The calculation takes into account
atau pengurangan. Perhitungan tersebut any premium or discount on acquisition and includes
mempertimbangkan premium atau diskon pada perolehan transaction costs and fees that are an integral part of the
dan termasuk biaya transaksi dan biaya yang merupakan effective interest rate.
bagian yang tidak terpisahkan dari suku bunga efektif.
Penurunan nilai aset keuangan Impairment of financial assets
Setiap akhir periode pelaporan, Perum BULOG dan Entitas Perum BULOG and its Subsidiaries assess at the end of
Anak mengevaluasi apakah terdapat bukti yang obyektif each reporting period whether there is any objective
bahwa aset keuangan atau kelompok aset keuangan evidence that a financial asset or a group of financial assets
mengalami penurunan nilai. Aset keuangan atau kelompok is impaired. A financial asset or a group of financial assets
aset keuangan diturunkan nilainya dan kerugian penurunan is deemed to be impaired if, and only if, there is objective
nilai telah terjadi jika, dan hanya jika, terdapat bukti yang evidence of impairment as a result of one or more events
obyektif mengenai penurunan nilai tersebut sebagai akibat that has occurred after the initial recognition of the asset (an
dari satu atau lebih peristiwa yang terjadi setelah incurred ‘loss event’) and that loss event has an impact on
pengakuan awal aset tersebut (peristiwa yang merugikan), the estimated future cash flows of the financial asset or the
dan peristiwa yang merugikan tersebut berdampak pada group of financial assets that can be reliably estimated.
estimasi arus kas masa depan atas aset keuangan atau
kelompok aset keuangan yang dapat diestimasi secara
handal.
19

(continued)
Penurunan nilai aset keuangan (lanjutan) Impairment of financial assets (continued)
Bukti penurunan nilai dapat meliputi indikasi pihak peminjam Evidence of impairment may include indications that the
atau kelompok pihak peminjam mengalami kesulitan debtors or a group of debtors is experiencing significant
keuangan signifikan, wanprestasi atau tunggakan financial difficulty, default or delinquency in interest or
pembayaran bunga atau pokok, kemungkinan bahwa principal payments, the probability that they will enter
mereka akan dinyatakan pailit atau melakukan reorganisasi bankruptcy or other financial reorganization and where
keuangan lainnya dan di mana data yang dapat diobservasi observable data indicate that there is a measurable
mengindikasikan bahwa ada terukur penurunan arus kas decrease in the estimated future cash flows, such as
estimasi masa mendatang, seperti perubahan tunggakan changes in arrears or economic conditions that correlate
atau kondisi ekonomi yang berkorelasi dengan wanprestasi. with defaults
Untuk aset keuangan yang dicatat pada biaya perolehan For financial assets carried at amortized cost, Perum
diamortisasi, Perum BULOG dan Entitas Anak dan pertama BULOG and its Subsidiaries first assess whether objective
kali menentukan apakah terdapat bukti obyektif mengenai evidence of impairment exist individually for financial assets
penurunan nilai secara individual atas aset keuangan yang that are individually significant, or collectively for financial
signifikan secara individual dan untuk aset keuangan yang assets that are not individually significant. If Perum BULOG
tidak signifikan secara individual terdapat bukti penurunan and its Subsidiaries determine that no objective evidence of
nilai secara kolektif. Jika Perum BULOG dan Entitas Anak impairment exists for an individually assessed financial
menentukan tidak terdapat bukti obyektif mengenai asset, whether significant or not, the asset is included in a
penurunan nilai atas aset keuangan yang dinilai secara group of financial assets with similar asset is included in a
individual, terlepas aset keuangan tersebut signifikan atau group of financial assets with similar credit risk
tidak, maka aset tersebut dimasukkan ke dalam kelompok characteristics and collectively assessed for impairment.
aset keuangan yang memiliki karakteristik risiko kredit yang Assets that are individually assessed for impairment and for
sejenis dan menilai penurunan nilai kelompok tersebut which an impairment loss is, or continues to be, recognized
secara kolektif. Aset yang penurunan nilainya dinilai secara are not included in a collective assessment of impairment.
individual, dan untuk itu kerugian penurunan nilai diakui atau
tetap diakui, tidak termasuk dalam penilaian penurunan nilai
secara kolektif.
Jika terdapat bukti obyektif bahwa kerugian penurunan nilai If there is objective evidence that an impairment loss has
telah terjadi, jumlah kerugian tersebut diukur sebagai selisih occurred, the amount of the loss is measured as the
antara nilai tercatat aset dengan nilai kini estimasi arus kas difference between the assets carrying amount and the
masa datang (tidak termasuk ekspektasi kerugian kredit present value of estimated future cash flows (excluding
masa datang yang belum terjadi). Nilai kini estimasi arus kas future expected credit losses that have not yet been
masa datang didiskonto menggunakan suku bunga efektif incurred). The present value of the estimated future cash
awal dari aset keuangan tersebut. Jika pinjaman yang flows is discounted at the financial assets original effective
diberikan dan piutang memiliki suku bunga pinjaman yang interest rate. If a loan has a variable interest rate, the
diberikan dan piutang memiliki suku bunga variabel, tingkat discount rate for measuring any impairment loss is the
diskonto untuk mengukur kerugian penurunan nilai adalah current effective interest rate. The carrying amount of the
suku bunga efektif terkini. Nilai tercatat aset tersebut asset is reduced through the use of an allowance account
berkurang melalui penggunaan akun penyisihan dan jumlah and the amount of the loss is recognized in profit or loss.
kerugian diakui dalam laporan laba rugi.
Ketika aset tidak tertagih, nilai tercatat atas aset keuangan When the asset becomes uncollectible, the carrying amount
yang telah diturunkan nilainya dikurangi secara langsung of the financial assets is reduced directly or if an amount was
atau jika ada suatu jumlah telah dibebankan ke akun charged to the allowance account, the amounts charged to
penyisihan jumlah tersebut dihapusbukukan terhadap nilai the allowance account are written off against the carrying
tercatat aset keuangan tersebut. value of the financial asset.
20

(continued)
Penurunan nilai aset keuangan (lanjutan) Impairment of financial assets (continued)
Jika, pada periode berikutnya, jumlah kerugian penurunan If, in a subsequent period, the amount of the impairment loss
nilai berkurang dan penurunan nilai tersebut diakui, maka decreases and the impairment was recognized, the
kerugian penurunan nilai yang sebelumnya diakui previously recognized impairment loss is reversed to the
dipulihkan, sepanjang nilai tercatat aset tidak melebihi biaya extent that the carrying amount of the asset does not exceed
perolehan diamortisasi pada tanggal pemulihan dengan its amortized cost at the reversal date by adjusting the
menyesuaikan akun cadangan. Jumlah pemulihan aset allowance account. The amount of the reversal is
keuangan diakui pada laporan laba rugi. Penerimaan recognized in profit or loss. Subsequent recoveries of
kemudian atas piutang yang telah dihapusbukukan previously written off receivables, if in the current period, are
sebelumnya, jika pada periode berjalan dikreditkan dengan credited to the allowance accounts, but if after the reporting
menyesuaikan pada akun cadangan penurunan nilai, period, are credited to other operating income.
sedangkan jika setelah akhir periode pelaporan dikreditkan
sebagai pendapatan operasional lainnya.
Penghentian Pengakuan Derecognition
Perum BULOG dan Entitas Anak menghentikan Perum BULOG and its Subsidiaries derecognize a
pengakuan aset keuangan, jika dan hanya jika, hak financial assets if, and only if, the contractual rights to
kontraktual untuk menerima arus kas yang berasal dari receive cash flows from the asset have expired; or
aset keuangan tersebut berakhir; atau Perum BULOG Perum BULOG and its Subsidiaries have transferred
dan Entitas Anak dan mentransfer hak untuk menerima its rights to receive cash flows from have asset or have
arus kas yang berasal dari aset keuangan atau assumed an obligation to pay the received cash flows
menanggung liabilitas untuk membayarkan arus kas in full without material delay to a third party under a
yang diterima tersebut secara penuh tanpa penundaan pass through arrangement; and either (a) Perum
berarti kepada pihak ketiga di bawah kesepakatan BULOG and its Subsidiaries have transferred
pelepasan (pass through arrangement); dan (a) Perum substantially all the risks and rewards of the asset, or
BULOG dan Entitas Anak dan telah mentransfer (b) Perum BULOG and its Subsidiaries have neither
secara substansial seluruh risiko dan manfaat atas transferred nor retained substantially all the risks and
aset, atau (b) Perum BULOG dan Entitas Anak dan rewards of the asset, but have transferred control of the
tidak mentransfer maupun tidak memliki secara asset.
substansial seluruh risiko dan manfaat atas aset,
namun telah mentransfer pengendalian atas aset.
Dalam hal, Perum BULOG dan Entitas Anak juga In that case, Perum BULOG and its Subsidiaries also
mengakui liabilitas terkait. Aset yang ditransfer dan recognize an associated liability. The transferred asset
liabilitas terkait diukur dengan dasar yang and the associated liability are measured on a basis
mencerminkan hak dan liabilitas yang masih dimiliki that reflects the rights and obligations that Perum
Perum BULOG dan Entitas Anak. BULOG and its Subsidiaries have retained.
Keterlibatan berkelanjutan yang berbentuk pemberian Continuing involvement that takes the form of a
jaminan atas aset yang ditransfer diukur sebesar guarantee over the transferred asset is measured at
jumlah terendah dari jumlah tercatat aset dan jumlah the lower of the original carrying amount of the asset
maksimal dari pembayaran yang diterima yang and the maximum amount of consideration that Perum
mungkin harus dibayar kembali. BULOG and its Subsidiaries could be required to
repay.
Ketika Perum BULOG dan Entitas Anak telah When Perum BULOG and its Subsidiaries have
mentransfer hak untuk menerima arus kas dari aset transferred its rights to receive cash flows from an
atau telah menandatangani kesepakatan pelepasan asset or have entered into a pass-through
(pass through arrangement), dan secara substansial arrangement, and have neither transferred nor
tidak mentransfer dan tidak memiliki cseluruh risiko retained substantially all of the risks and rewards of the
dan manfaat atas aset keuangan, maupun asset nor transferred control of the asset, the asset is
mentransfer pengendalian atas aset, aset tersebut recognized to the extent of Perum BULOG and its
diakui sejauh keterlibatan berkelanjutan Perum Subsidiaries continuing involvement in the asset.
BULOG dan Entitas Anak terhadap aset keuangan
tersebut.
21

(continued)
Penghentian Pengakuan (lanjutan) Derecognition (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets(continued)
Pada saat penghentian pengakuan atas aset On derecognition of a financial asset in its entirety, the
keuangan secara keseluruhan, maka selisih antara difference between the carrying amount and the sum
nilai tercatat dan jumlah dari (i) pembayaran yang of (i) the consideration received, including any new
diterima, termasuk setiap aset baru yang diperoleh asset obtained less any new liability assumed; and (ii)
dikurangi setiap liabilitas baru yang harus ditanggung; any cumulative gain or loss that has been recognized
dan (ii) setiap keuntungan atau kerugian kumulatif directly in equity is recognized in the consolidated
yang telah diakui secara langsung dalam ekuitas harus statement of profit or loss and other comprehensive
diakui pada laporan laba rugi dan penghasilan income.
komprehensif lain konsolidasian.
Liabilitas keuangan dihentikan pengakuannya ketika A financial liability is derecognized when the obligation
liabilitas yang ditetapkan dalam kontrak dihentikan specified in the contract is discharged or cancelled or
atau dibatalkan atau kadaluwarsa. expired.
Ketika liabilitas keuangan saat ini digantikan dengan When an existing financial liability is replaced by
yang lain dari pemberi pinjaman yang sama dengan another from the same lender on substantially different
persyaratan yang berbeda secara substansial, atau terms, or the terms of an existing liability are
modifikasi secara substansial atas ketentuan liabilitas substantially modified, such a exchange or
keuangan yang saat ini ada, maka pertukaran atau modification is treated as a derecognition of the original
modifikasi tersebut dicatat sebagai penghapusan liability and the recogniton of a new liability, and the
liabilitas keuangan awal dan pengakuan liabilitas difference in the respective carrying amounts is
keuangan baru, dan selisih antara nilai tercatat recognized in profit or loss.
liabilitas keuangan tersebut diakui dalam laporan laba
rugi.
Bantuan Pemerintah/Subsidi Government Assistance / Subsidy
1. Penerimaan dana yang berasal dari Pemerintah/APBN 1. Acceptance of funds from the government/state budget
untuk memperoleh suatu aset diakui sebagai Pos to acquire an asset is recognized as Post Fund budget
Dana APBN yang selanjutnya akan diakui sebagai which would then be recognized as an increase in
penambahan penyertaan modal negara setelah ada capital of the country after government regulation;
Peraturan Pemerintah;
2. Penerimaan dana yang berasal dari Pemerintah/APBN 2. Acceptance of funds from the government/state budget
yang terkait dengan penggantian pembiayaan atas related to the assignment of Government funding
penugasan Pemerintah diakui sebagai pendapatan reimbursement is recognized as revenue for the period
periode yang bersangkutan sesuai dengan as intended;
peruntukannya;
3. Penerimaan dana dan/atau pengembalian dana yang 3. Acceptance of funds and/or return of funds from the
berasal dari/ke Pemerintah/APBN yang terkait dengan government/budget-related government subsidies are
subsidi Pemerintah diakui sebagai pendapatan recognized as revenue and/or expense for the period;
dan/atau beban periode yang bersangkutan;
4. Besaran penerimaan dana dan/atau pengembalian 4. The amount acceptance of funds and/or return of funds
dana dari/ke Pemerintah yang terkait atas penggantian from/to the Government related to the assignment of
pembiayaan dan subsidi Pemerintah berdasarkan hasil Government funding reimbursement and Government
audit BPK dan BPKP. subsidies based on the results of the BPK and BPKP
audit.
22

(continued)
Transaksi dengan pihak-pihak berelasi Transaction with related parties
Pihak-pihak berelasi adalah orang atau entitas yang terkait A related party is a person or entity that is related to Perum
dengan Perum BULOG dan Entitas Anak, jika: BULOG and its Subsidiaries if:
a. Orang atau anggota keluarga dekatnya yang a. A person or a close member of that person's family is
mempunyai relasi dengan Perum BULOG dan Entitas related to Perum BULOG and its Subsidiaries if that
Anak jika orang tersebut: person:
(i) memiliki pengendalian atau pengendalian (i) has control or joint control over Perum BULOG and
bersama atas Perum BULOG dan Entitas Anak; its Subsidiaries;
(ii) memiliki pengaruh signifikan atas Perum BULOG (ii) has significant influence over Perum BULOG and
dan Entitas Anak; atau its Subsidiaries; or,
(iii) personil manajemen kunci Perum BULOG dan (iii) is a member of the key management personnel of
Entitas Anak atau entitas induk Perum BULOG. Perum BULOG and its Subsidiaries or of a parent
of Perum BULOG and its Subsidiaries.
b. Suatu entitas berelasi dengan Perum BULOG dan b. An entity is related to Perum BULOG and its
Entitas Anak jika memenuhi salah satu hal berikut: Subsidiaries if any of the following conditions applies:
(i) entitas dan Perum BULOG dan Entitas Anak (i) the entity and Perum BULOG and its Subsidiaries
adalah anggota dari kelompok usaha yang sama are members of the same group (which means that
(artinya entitas induk, entitas anak, dan entitas each parent, subsidiary and fellow subsidiary is
anak berikutnya saling berelasi dengan entitas related to the others).
lainnya).
(ii) satu entitas adalah entitas asosiasi atau ventura (ii) one entity is an associate or joint venture of the
bersama dari entitas lain (atau entitas asosiasi other entity (or an associate or joint venture of a
atau ventura bersama yang merupakan anggota member of group of which the other entity is a
suatu kelompok usaha, yang mana entitas lain member).
tersebut adalah anggotanya).
(iii) kedua entitas tersebut adalah ventura bersama (iii) both entities are joint ventures of the same third
dari pihak ketiga yang sama party.
(iv) satu entitas adalah ventura bersama dari entitas (iv) one entity is a joint venture of a third entity and the
ketiga dan entitas yang lain adalah entitas asosiasi other entity is an associate of the third entity.
dari entitas ketiga.
(v) entitas tersebut adalah suatu program imbalan (v) the entity is a post-employment defined benefit
pasca kerja untuk imbalan kerja dari Perum plan for the benefit of employees of either the
BULOG dan Entitas Anak atau entitas yang terkait Perum BULOG and its Subsidiaries or an entity
dengan Perum BULOG dan Entitas anak. related to Perum BULOG and its Subsidiaries.
(vi) entitas yang dikendalikan atau dikendalikan (iv) the entity is controlled or jointly controlled by a
bersama oleh orang yang diidentifikasi dalam person identified in a).
huruf a).
(vii) orang yang diidentifikasi dalam huruf a) i) memiliki (vii) a person identified in a) i) has significant influence
pengaruh signifikan atas entitas atau merupakan over the entity or is a member of the key
personil manajemen kunci entitas (atau entitas management personnel of the entity (or of a parent
induk dari entitas). of the entity).
(viii) Entitas, atau anggota dari kelompok yang mana (viii) the entity, or any member of a group of which it is
entitas merupakan bagian dari kelompok tersebut, a part, provides key management personnel
menyediakan jasa personil manajemen kunci services to Perum BULOG and its subsidiaries or
kepada Perum BULOG dan Entitas anak atau to the parent of the Perum BULOG and its
kepada entitas induk dari Perum BULOG dan subsidiaries or to the parent of the entity.
Entitas Anak.
Transaksi ini dilakukan berdasarkan persyaratan yang The transactions are made based on terms agreed by the
disetujui oleh kedua belah pihak. Beberapa persyaratan parties. Such terms may not be the same as those of the
tersebut mungkin tidak sama dengan persyaratan yang transactions between unrelated parties.
dilakukan dengan pihak-pihak yang tidak berelasi
Seluruh transaksi dan saldo dengan pihak-pihak berelasi All significant transactions and balances with related
diungkapkan dalam catatan atas laporan keuangan parties are disclosed in the relevant Notes herein.
konsolidasian.
23

(continued)
Persediaan Inventories
1. Penilaian Persediaan: 1. Inventory valuation:
a. Barang dagangan a. Merchandise
(i) Berdasarkan biaya perolehan dengan (i) Based on acquisition costs using the
menggunakan metode rata-rata tertimbang; weighted average method;
(ii) Harga beli/harga pengadaan barang (ii) The purchase price/procurement price and
dagangan dan biaya-biaya yang terkait cost directly associated with the
langsung dengan pembelian/pengadaan purchase/procurement is recognized as part
diakui sebagai biaya perolehan; of cost;
(iii) Biaya-biaya yang terkait langsung dengan (iii) Costs directly related to the processing of
pengolahan barang dagangan diakui sebagai merchandise is recognized as part of cost.
biaya perolehan.
b. Barang pelengkap/pembantu b. Complementary goods / auxiliary
(i) Harga beli/ harga pengadaan/ harga (i) The purchase price/procurement price/price
penerimaan barang pelengkap/ pembantu of receiving complementary/supporting
selama periode diakui sebagai beban periode goods/auxiliary during the period is
yang bersangkutan. recognized as expense during the period.
(ii) Pada akhir periode (tanggal pelaporan) (ii) At the end of the period (the reporting date)
berdasarkan pemeriksaan fisik (stock based on physical examintation (stock
opname), sisa/saldo barang pelengkap/ taking), the remaining/ balance of
pembantu diakui sebagai persediaan dan complementary/ supporting/ auxiliary is
dinilai menurut harga pembelian/ pengadaan/ recognized as inventories and measured
penerimaan terakhir. based on the purchase/ procurement price.
(iii) Khusus untuk karung pembungkus bekas (iii) Wrapping sacks for specific use (which still
baik (yang masih dapat digunakan) dinilai can be used) is recognized at 75% of the last
sebesar 75% dari harga pembelian yang purchase price of corresponding type of
terakhir dari jenis karung yang bersangkutan. sacks.
2. Biaya perolehan barang dagangan 2. Cost of merchandise
a. Biaya perolehan barang dagangan atas kegiatan a. Cost of goods on domestic purchases activities
pembelian dalam negeri adalah biaya-biaya yang whic are costs directly related to local purchases is
terkait langsung dengan pembelian dalam negeri recognized upon receipt of the goods.
diakui pada saat penerimaan barang.
b. Biaya perolehan barang dagangan atas kegiatan b. Cost of goods on import purchases which are
pembelian luar negeri (impor) adalah biaya-biaya costs directly related to the foreign purchases are
yang terkait langsung dengan pembelian luar recognized upon receipt of the goods.
negeri diakui pada saat penerimaan barang.
c. Biaya perolehan barang dagangan atas kegiatan c. Cost of goods purchases for national movement
movement nasional diakui pada saat pengiriman/ activities are recognized upon delivery/receipt of
penerimaan barang dan sebagai beban Kantor goods and as expenses of the head office
pusat (dilimpahkan). (transferred).
d. Biaya perolehan barang dagangan atas kegiatan d. Cost of goods purchases for regional movement
movement regional diakui pada saat pengiriman/ activities are recognized upon delivery/receipt of
penerimaan barang dan sebagai beban divre yang goods and as expenses of the division concerned.
bersangkutan.
e. Biaya perolehan barang dagangan atas kegiatan e. Cost of goods purchases for milling/processing
giling/ proses dan proses adalah biaya-biaya yang and reprocessing activities which are costs directly
terkait langsung dengan giling/ proses atau proses related to milling/ processing and reprocessing are
diakui pada saat penerimaan barang. recognized upon receipt of the goods.
24

(continued)
Persediaan (lanjutan) Inventories (continued)
3. Penghapusan persediaan 3. Inventories write-off
Penghapusan persediaan dalam laporan posisi Inventories write-off in the statement of financial
keuangan dilaksanakan berdasarkan keputusan position is implemented by the decision of Directors
Direksi atas dasar hasil/ keputusan Rapat based on the results/ decision of the Board of Directors
Pembahasan Bersama (RPB) antara Direksi dan and Supervisory Board Joint Discussion Meeting
Dewan Pengawas, sesuai dengan Keputusan Menteri. (RPB), in accordance with the Decree of the Minister.
Aset Tetap Fixed Assets
Aset tetap kecuali tanah dinyatakan sebesar biaya Fixed assets, except land, are stated at cost less
perolehan dikurangi akumulasi penyusutan dan rugi accumulated depreciation and any impairment loss. Such
penurunan nilai. Biaya perolehan termasuk biaya cost includes the cost of replacing part of the fixed assets
penggantian bagian aset tetap saat biaya tersebut terjadi, when the cost is incurred, if the recognition criteria are met.
jika memenuhi kriteria pengakuan. Selanjutnya, pada saat Likewise, when a major inspection is performed, its cost is
inspeksi yang signifikan dilakukan, biaya inspeksi itu diakui recognized in the carrying amount of the assets as a
ke dalam nilai tercatat ("carrying amount") aset tetap replacement if the recognition criteria are met. All other
sebagai suatu penggantian jika memenuhi kriteria repairs and maintenance costs that do not meet the
pengakuan. Semua biaya perbaikan dan pemeliharaan recognition criteria are recognized in profit or loss as
yang tidak memenuhi kriteria pengakuan diakui dalam incurred.
laporan laba rugi pada saat terjadinya.
Perum BULOG dan Entitas Anak memilih menggunakan Perum BULOG and Subsidiaries have chosen cost
model biaya sebagai kebijakan akuntansi pengukuran aset model as the accounting policy for its fixed assets.
tetapnya.
Aset tetap kecuali tanah disusutkan dengan menggunakan Fixed assets, except land are depreciated using the straight-
metode garis lurus dengan nilai sisa Rp 1,00 berdasarkan line method with a residual value of Rp1.00 based on the
masa manfaat ekonomis aset tetap sebagai berikut: useful lives of the assets as follows:
Aset tetap bangunan: Fixed Assets-Building:
1. Kelompok I, yaitu bangunan permanen yang dibangun 1. Group I, which include permanent building constructed
sesuai standar Perum BULOG seperti GBB, GDT, according with standards such as GBB, GDT, GBM,
GBM, Kantor, Rumjab masa manfaat ekonomis Office, Rumjab, the economic useful life is 20 years.
ditetapkan selama 20 tahun.
2. Kelompok II, yaitu bangunan permanen yang dibangun 2. Group II, which includes permanent building that are
tidak sesuai dengan standar Perum BULOG seperti not constructed in accordance with Perum BULOG
bangunan yang diperoleh dari kompensasi, masa standards such as building obtained from
manfaat ekonomis ditetapkan selama 20 tahun. compensation, the useful life is 20 years.
3. Kelompok III, yaitu bangunan semi permanen yang 3. Group III, which includes semi-permanent building
dibangun sesuai standar Perum BULOG seperti constructed in accordance with Perum BULOG
GSP, masa manfaat ekonomis ditetapkan selama 10 standards such as GSP, the useful life is 10 years.
tahun.
4. Kelompok IV, yaitu bangunan semi permanen yang 4. Group IV, which includes semi-permanent buildings
dibangun tidak sesuai dengan standar Perum BULOG that are not constructed in accordance with Perum
seperti bangunan yang diperoleh dari kompensasi dan BULOG standards such as building obtained from
pembelian, masa manfaat ekonomis ditetapkan compensation and purchases, the useful life is 10
selama 10 tahun. years.
Aset tetap bukan bangunan: Fixed Assets other than building:

1. Kelompok I, yaitu inventaris (inventaris gudang, 1. Group I, which includes inventory (warehouse
inventaris kantor, inventaris rumah dinas, inventaris inventories, office inventories, laboratory inventories
laboratorium dan inventaris lainnya) kecuali alat and other inventories) except air regulator (AC, fans
pengatur udara (AC, kipas angin dan sejenisnya) serta and the like) as well as two-wheel vehicles
kendaraan roda dua (motor, sepeda dan sejenisnya), (motorcycles, bicycles and the like), the economic
masa manfaat ekonomis ditetapkan selama 4 tahun; useful life is 4 years;
25

(continued)
Aset Tetap (lanjutan) Fixed Assets (continued)
Aset tetap bukan bangunan: (lanjutan) Fixed Assets other than building: (continued)
2. Kelompok II, yaitu kendaraan roda empat, alat 2. Group II, which includes four-wheel vehicles, air-
pengatur udara dan mesin-mesin, masa manfaat conditioning equipment and machinery, the economic
ekonomis ditetapkan selama 8 tahun. useful life is 8 years.
Estimasi masa manfaat dan metode penyusutan direview Estimated useful lives, and depreciation method are
dan disesuaikan, setiap akhir tahun, bila diperlukan. reviewed and adjusted, at year end, if necessary.
Jumlah tercatat aset tetap dihentikan pengakuannya pada The carrying value of fixed assets is derecognized upon
saat dilepaskan atau saat tidak ada manfaat ekonomis disposal or when no future economic benefits are expected
masa depan yang diharapkan dari penggunanya. Laba atau from its use. Any gain or loss arising on derecognition of the
rugi yang timbul dari penghentian pengakuan aset diakui assets is charged to profit or loss in the year the assets is
dalam laporan laba rugi pada tahun aset tersebut dihentikan derecognized.
pengakuannya.
Tanah dinyatakan berdasarkan biaya perolehan dan tidak Land is stated at cost and not depreciated. Costs associated
disusutkan. Biaya yang terkait dengan perolehan hak yang with the acquisition of legal right of land when the land was
sah atas tanah ketika tanah pertama kali diakuisisi diakui first acquired are recognized as part of the cost of land.
sebagai dari biaya tanah. Biaya yang terkait dengan Costs associated with the extension or renewal of legal right
perpanjangan atau pembaharuan hak hukum atas tanah of land are recognized as an intangible asset and amortized
diakui sebagai aset tidak berwujud dan diamortisasi selama over the legal life of the land rights or economic life of the
masa hak atas tanah atau umur ekonomis tanah, mana land, whichever is shorter.
yang lebih pendek.
Biaya konstruksi aset tetap dikapitalisasi sebagai aset The costs of the construction of fixed assets are capitalized
dalam penyelesaian. Penyusutan aset dimulai pada saat as construction in progress. Depreciation of an asset begins
aset tersebut siap untuk digunakan, yaitu pada saat aset when it is available for use, such as when it is in the location
tersebut berada pada lokasi dan kondisi yang diinginkan and condition necessary for it to be capable of operating in
agar aset siap digunakan sesuai dengan keinginan dan the manner intended by management.
maksud manajemen.
Aset dalam pembangunan dan pemasangan dinyatakan Assets under construction and installation are stated at cost.
sebesar biaya perolehan.
Aset takberwujud Intangible assets

Aset takberwujud yang diperoleh secara terpisah pada Intangible assets acquired separately are measured on
awalnya diakui sebesar biaya perolehan. Biaya perolehan initial recognition at cost. Following initial recognition,
aset takberwujud yang diperoleh dalam kombinasi bisnis intangible assets are carried at cost less any accumulated
adalah nilai wajar aset pada tanggal akuisisi. amortization and accumulated impairment losses, if any.
Amortisasi dihitung dengan menggunakan metode garis Amortization is computed using the straight-line method
lurus (straight-line method) berdasarkan taksiran masa over the estimated useful life of the software of 3 years.
manfaat ekonomis aset tetap Perangkat lunak adalah 3
tahun.
Laba atau rugi yang timbul dari penghentian pengakuan Gains or losses arising from derecognition of an intangible
aset tidak berwujud diukur sebagai perbedaan antara asset are measured as the difference between the net
jumlah neto hasil pelepasan dan jumlah tercatat dari aset disposal proceeds and the carrying amount of the asset and
dan diakui dalam laporan laba rugi ketika aset tersebut are recognized in profit or loss when the asset is
dihentikan pengakuannya derecognized.
Properti Investasi Investment properties
Efektif 1 Januari 2018, Perum BULOG menerapkan Effective January 1, 2018, Perum BULOG adopted
Amandemen PSAK No. 13 (2017), “Properti Investasi”. Amendments to PSAK No. 13 (2017), “Investment
Property”.
Amandemen ini, mengklarifikasi bahwa perubahan
penggunaan terjadi ketika properti memenuhi, atau berhenti The amendments clarify that change of usage occurs when
memenuhi, definisi properti investasi dan terdapat bukti the property fulfill, or not fulfill the definition of investment
adanya perubahaan penggunaan. Secara terpisah, property and there is evidence of change of use. Separately,
perubahan dalam intensi manajemen untuk menggunakan change in management intention to use the property not
properti tidak menunjukkan bukti perubahan penggunaan. showed the evidence of usage.
26

(continued)
Properti Investasi (lanjutan) Investment properties (continued)
Penerapan dari amandemen PSAK No. 13 (2017) tidak The adoption of theamendments of PSAK No. 13 (2017) has
memiliki dampak signifikan terhadap laporan keuangan no significant impact on the consolidated financial
konsolidasian. statements.
Properti investasi dinyatakan sebesar biaya perolehan Investment properties are stated at cost including
termasuk biaya transaksi dikurangi akumulasi penyusutan transaction cost less accumulated depreciation and
dan penurunan nilai, jika ada, kecuali tanah yang tidak impairment loss, if any, except for land which is not
disusutkan. Jumlah tercatat termasuk bagian biaya depreciated. Such cost includes the cost of replacing part of
penggantian dari properti investasi yang ada pada saat the investment properties, if the recognition criteria are met,
terjadinya biaya, jika kriteria pengakuan terpenuhi, dan tidak and excludes the daily expenses on their usage.
termasuk biaya harian penggunaan properti investasi.
Penyusutan bangunan dihitung dengan menggunakan Depreciation of buliding is computed using the straight-line
metode garis lurus selama umur manfaat ekonomis selama method over the estimated useful of 20 years.
20 tahun.
Properti investasi Perum BULOG terdiri dari tanah, Investment properties of the Perum BULOG consist of land,
bangunan dan prasarana yang dikuasai Perum BULOG building and infrastructures held by the Perum BULOG to
untuk menghasilkan sewa atau untuk kenaikan nilai atau earn rentals or for capital appreciation or both, rather than
kedua-duanya, dan tidak untuk digunakan dalam produksi for use in the production or supply of goods or services or
atau penyediaan barang atau jasa untuk tujuan administratif for administrative purposes or sale in the ordinary course of
atau dijual dalam kegiatan usaha sehari-hari. business.
Properti investasi dihentikan pengakuannya pada saat An investment property should be derecognized upon
pelepasan atau ketika properti investasi tersebut tidak disposal or when the investment property is permanently
digunakan lagi secara permanen dan tidak memiliki manfaat withdrawn from use and no future economic benefits are
ekonomis di masa depan yang dapat diharapkan pada saat expected from its disposal. Gains or losses arising from the
pelepasannya. Laba atau rugi yang timbul dari penghentian retirement or disposal of an investment property is credited
atau pelepasan properti investasi diakui dalam laporan laba or charged to operations in the year the asset is
rugi dalam tahun terjadinya penghentian atau pelepasan derecognized.
tersebut.
Penurunan nilai aset non-keuangan Impairment of non-financial assets
Pada setiap akhir periode pelaporan, Perum BULOG dan Perum BULOG and its Subsidiaries assess at each
Entitas Anak menilai apakah terdapat indikasi suatu aset reporting period whether there is an indication that an asset
mengalami penurunan nilai. Jika terdapat indikasi tersebut may be impaired. If any such indication exists, or when
atau pada saat pengujian penurunan nilai aset diperlukan, annual impairment testing for an asset is required, Perum
maka Perum BULOG dan Entitas Anak membuat estimasi BULOG and its Subsidiaries make an estimate of that
jumlah terpulihkan aset tersebut. asset's recoverable amount.
Jumlah terpulihkan yang ditentukan untuk aset individual An asset’s recoverable amount is the higher of the asset’s
adalah jumlah yang lebih tinggi antara nilai wajar aset atau or its CGU’s fair value less costs to sell and its value in use,
Unit Penghasil Kas (UPK) dikurangi biaya untuk menjual and is determined for an individual asset, unless the asset
dengan nilai pakainya, kecuali aset tersebut tidak does not generate cash inflows that are largely independent
menghasilkan arus kas masuk yang sebagian besar of those from other assets or groups of assets. Where the
independen dari aset atau kelompok aset lain. Jika nilai carrying amount of an asset exceeds its recoverable
tercatat aset lebih besar daripada nilai terpulihkannya, maka amount, the asset is considered impaired and is written
aset tersebut mengalami penurunan nilai dan nilai tercatat down to its recoverable amount. Impairment losses of
aset diturunkan menjadi sebesar nilai terpulihkannya. Rugi continuing operations are recognized in the consolidated
penurunan nilai dari operasi yang dilanjutkan diakui pada statement of profit or loss and other comprehensive income
laporan laba rugi dan penghasilan komprehensif lain as “impairment losses”.
konsolidasian sebagai rugi penurunan nilai.
Dalam menghitung nilai pakai, estimasi arus kas masa In assessing the value in use (VIU), the estimated net future
depan bersih didiskontokan ke nilai kini dengan cash flows are discounted to their present value using a pre-
menggunakan tingkat diskonto sebelum pajak yang tax discount rate that reflects current market assessments
menggambarkan penilaian pasar terkini atas nilai waktu dari of the time value of money and the risks specific to the asset.
uang dan risiko spesifik dari aset. Dalam menentukan nilai In determining fair value less costs to sell, recent market
wajar dikurangi biaya untuk menjual, digunakan harga transactions are taken into account, if available. If no such
penawaran pasar terakhir, jika tersedia. Jika tidak terdapat transactions can be identified, an appropriate valuation
transaksi tersebut, Perum BULOG dan Entitas Anak model is used to determine the fair value of the assets.
menggunakan model penilaian yang sesuai untuk These calculations are corroborated by valuation multiples
menentukan nilai wajar aset. Perhitungan-perhitungan ini or other available fair value indicators.
dikuatkan oleh penilaian berganda atau indikasi nilai wajar
yang tersedia.
27

(continued)
Penurunan nilai aset non-keuangan (lanjutan) Impairment of non-financial assets (continued)
Manajemen berkeyakinan bahwa tidak terdapat indikasi Management believes that there is no indication of potential
atas penurunan nilai aset non-keuangan pada tanggal impairment in values of non-financial assets as of
31 Desember 2018 dan 2017. December 31, 2018 and 2017.
Goodwill diuji untuk penurunan setiap tahun (per Goodwill is tested for impairment annually (as of December
31 Desember) dan ketika keadaan yang mengindikasikan 31) and when circumstances indicate that the carrying value
bahwa nilai tercatat mengalami penurunan nilai. Penurunan may be impaired. Impairment is determined for goodwill by
nilai goodwill ditetapkan dengan menentukan jumlah assessing the recoverable amount of each CGU (or group
tercatat tiap UPK (atau kelompok UPK) dimana goodwill of CGUs) to which the goodwill relates. Where the
terkait. Jika jumlah terpulihkan dari UPK kurang dari jumlah recoverable amount of the CGU is less than its carrying
tercatatnya, rugi penurunan nilai diakui. Kerugian amount, an impairment loss is recognized. Impairment
penurunan nilai yang berhubungan dengan goodwill tidak losses relating to goodwill cannot be reversed in future
dapat dibalik pada periode berikutnya. periods.
Goodwill Goodwill
Goodwill merupakan selisih lebih biaya perolehan atas Goodwill represents the excess of the cost of an acquisition
kepemilikan Perum BULOG dan Entitas Anak terhadap nilai over the fair value of the Perum BULOG share of the net
wajar aset bernsih teridentifikasi dari entitas anak, entitas identifiable assets of the acquired subsidiary, associate or
asosiasi atau pengendalian bersama entitas pada tanggal jointly controlled entity at the effective date of acquisition.
akuisisi. Kepentingan nonpengendali diukur pada proporsi Non-controlling interests are measured at their
kepemilikan kepentingan nonpengendali atas aset neto proportionate share of the net identifiable assets at the
teridentifikasi pada tanggal akuisisi. Jika biaya perolehan acquisition date. If the cost of acquisition is less than the fair
lebih rendah dari nilai wajar aset neto yang diperoleh, value of the net assets acquired, the difference is
perbedaan tersebut diakui dalam laporan laba rugi recognized directly in the consolidated profit and loss
konsolidasian. Goodwill atas akuisisi entitas asosiasi dan account. Goodwill on acquisitions of associates and jointly
pengendalian bersama entitas disajikan di dalam investasi controlled entity is included in investment in associates and
pada entitas asosiasi dan pengendalian bersama entitas. jointly controlled entities. Goodwill is carried at cost less
Goodwill dicatat sebesar biaya perolehan dikurangi dengan accumulated impairment loss.
akumulasi kerugian penurunan nilai.
Goodwill atas akuisisi entitas anak diuji penurunan nilainya Goodwill on acquisition of subsidiaries is tested for
setiap tahun. Goodwill dialokasikan pada setiap unit impairment annually. Goodwill is allocated to cash-
penghasil kas atau kelompok unit penghasil kas untuk generating units or groups of cash-generating units for the
tujuan uji penurunan nilai purpose of impairment testing.
Keuntungan atau kerugian atas pelepasan entitas anak, The profit or loss on disposal of subsidiaries, associates and
entitas asosiasi dan pengendalian bersama entitas jointly controlled entities includes the carrying amount of
termasuk nilai tercatat dari goodwill yang terkait dengan goodwill relating to the entity sold.
entitas yang dijual.
Pengakuan Pendapatan dan Beban Revenue and Expense Recognition
Pendapatan, diakui dengan menggunakan dasar akrual, Revenue is recognized using the accrual basis, except for
kecuali subsidi Pemerintah yang ditetapkan sesuai Government subsidy which is determined based on
ketentuan yang berlaku. applicable regulation.
Beban diakui pada saat terjadinya (dasar akrual). Expenses are recognized using when these are incurred.
Pajak penghasilan Income taxes
Efektif 1 Januari 2018, Perum BULOG dan Entitas Anak Effective January 1, 2018, Perum BULOG adopted
menerapkan Amandemen PSAK No. 46 (2016), “Pajak Amendments to PSAK No. 46 (2016), “Income Taxes:
Penghasilan: Pengakuan Aset Pajak Tangguhan untuk Rugi Recognition of Deferred Tax Assets for Unrealized Losses”,
yang belum Direalisasi”, rincian amandemen tersebut the details of the amendments are as follows:
sebagai berikut:
Perubahan ini, antara lain, menjelaskan persyaratan untuk These amendments, among others, clarify the requirements
mengakui aset pajak tangguhan pada rugi yang tidak for recognising deferred tax assets on unrealised losses.The
terealisasi. Amandemen ini menjelaskan perlakuan amendments clarify the accounting for deferred tax where
akuntansi untuk pajak tangguhan dimana sebuah aset an asset is measured at fair value and that fair value is below
diukur pada nilai wajar dan nilai wajar tersebut dibawah the asset’s tax base. They also clarify certain other aspects
basis pajak aset. Mereka juga menjelaskan aspek-asek of accounting for deferred tax assets.
akuntansi tertentu untuk aset pajak tangguhan.
28

(continued)
Pajak penghasilan (lanjutan) Income taxes (continued)
Penerapan dari amandemen PSAK No. 46 (2016) tidak The adoption of amendments PSAK No 46 (2016) has no
memiliki dampak signifikan terhadap laporan keuangan significant impact on the consolidated financial statements.
konsolidasian.
Beban pajak penghasilan terdiri dari pajak kini dan Income tax expense comparises current and deferred tax.
tangguhan. Beban pajak penghasilan diakui dalam laporan Income tax expense is recognized in profit or loss expect to
laba rugi, kecuali untuk transaksi-transaksi yang the extent that it relates to items recognized directly in
berhubungan dengan transaksi diakui langsung dalam equity, in which case it is recognized in other comprehensive
ekuitas, dalam hal ini diakui sebagai pendapatan income.
komprehensif lainnya.
Pajak kini Current tax
Beban pajak kini dihitung dengan menggunakan tarif pajak Current tax expense is calculated using tax rates that have
yang berlaku pada tanggal pelaporan keuangan, dan been enacted or substantively enacted at end of the
ditetapkan berdasarkan taksiran laba kena pajak tahun reporting period, and is provided based on the estimated
berjalan.Manajemen secara periodik mengevaluasi posisi taxable income for the year. Management periodically
yang dilaporkan di Surat Pemberitahuan Tahunan (SPT) evaluates positions taken in tax returns with respect to
sehubungan dengan situasi di mana aturan pajak yang situations in which applicable tax regulation is subject to
berlaku membutuhkan interpretasi. Jika perlu, manajemen interpretation. It establishes provision where appropriate on
menentukan provisi berdasarkan jumlah yang diharapkan the basis of amounts expected to be paid to the tax
akan dibayar kepada otoritas pajak. authorities.
Kekurangan atau kelebihan pembayaran pajak penghasilan Underpayment or overpayment of corporate income tax are
badan dicatat sebagai bagian dari beban pajak kini dalam presented as part of current income tax expense in the
laporan laba rugi dan penghasilan komprehensif lain consolidated statement of profit or loss and other
konsolidasian. comprehensive income.
Koreksi terhadap liabilitas perpajakan diakui pada saat surat Amendments to tax obligations are recorded when a tax
ketetapan pajak diterima. Jika Grup mengajukan keberatan, assessment letter is received. If the Group files an appeal,
Grup mempertimbangkan apakah besar kemungkinan the Group considers whether it is probable that a taxation
otoritas pajak akan menerima keberatan tersebut dan authority will accept the appeal and reflect its effect on the
merefleksikan dampaknya terhadap liabilitas perpajakan Group’s tax obligations.
Grup.
Pajak tangguhan Deferred tax
Pajak tangguhan diukur dengan metode liabilitas atas beda Deferred tax is provided using the liability method on
waktu pada tanggal pelaporan antara dasar pengenaan temporary differences at the reporting date between the tax
pajak untuk aset dan liabilitas dengan nilai tercatatnya untuk bases of assets and liabilities and their carrying amounts for
tujuan pelaporan keuangan. Liabilitas pajak tangguhan financial reporting purposes. Deferred tax liabilities are
diakui untuk semua perbedaan temporer kena pajak dengan recognized for all taxable temporary differences with certain
beberapa pengecualian. Aset pajak tangguhan diakui untuk exceptions. Deferred tax assets are recognized for
perbedaan temporer yang boleh dikurangkan dan rugi fiskal deductible temporary differences and tax losses carry-
apabila terdapat kemungkinan besar bahwa jumlah laba forward to the extent that it is probable that taxable income
kena pajak pada masa mendatang akan memadai untuk will be available in future years against which the deductible
mengkompensasi perbedaan temporer dan rugi fiskal. temporary differences and tax losses carry-forward can be
utilized.
Jumlah tercatat aset pajak tangguhan dikaji ulang pada The carrying amount of a deferred tax asset is reviewed at
akhir periode pelaporan, dan mengurangi jumlah tercatat each reporting date and reduced to the extent that it is no
jika kemungkinan besar laba kena pajak tidak lagi tersedia longer probable that sufficient taxable income will be
dalam jumlah yang memadai untuk mengkompensasi available to allow all or part of the benefit of that deferred tax
sebagian atau seluruh aset pajak tangguhan. Aset pajak asset to be utilized. Unrecognized deferred tax assets are
tangguhan yang belum diakui dinilai kembali pada setiap reassessed at each reporting date and are recognized to the
akhir periode pelaporan dan diakui sepanjang kemungkinan extent that it has become probable that future taxable
besar laba kena pajak mendatang akan memungkinkan aset income will allow the deferred tax assets to be recovered.
pajak tangguhan tersedia untuk dipulihkan.
29

(continued)
Pajak penghasilan (lanjutan) Income taxes (continued)
Pajak tangguhan (lanjutan) Deferred tax (continued)
Aset dan liabilitas pajak tangguhan dihitung berdasarkan Deferred tax assets and liabilities are measured at the tax
tarif yang akan dikenakan pada periode saat aset rates that are expected to apply to the period when the asset
direalisasikan atau liabilitas tersebut diselesaikan, is realized or the liability is settled, based on tax laws that
berdasarkan undang-undang pajak yang berlaku atau have been enacted or substantively enacted at the end of
berlaku secara substantif pada akhir periode laporan reporting period. The related tax effects of the provisions for
keuangan. Pengaruh pajak terkait dengan penyisihan and/or reversals of all temporary differences during the year,
dan/atau pemulihan semua perbedaan temporer selama including the effect of change in tax rates, are credited or
tahun berjalan, termasuk pengaruh perubahan tarif pajak, charged to current period operations, except to the extent
dikreditkan atau dibebankan pada periode operasi berjalan, that they relate to items previously charged or credited to
untuk transaksi-transaksi yang sebelumnya telah langsung equity.
dibebankan atau dikreditkan ke ekuitas.
Aset dan liabilitas pajak tangguhan disajikan secara saling Deferred tax assets and liabilities are offset when a legally
hapus saat hak yang dapat dipaksakan secara hukum ada enforceable right exists to offset current tax assets against
untuk saling hapus aset pajak kini dan liabilitas pajak kini, current tax liabilities, or the deferred tax assets and the
atau aset pajak tangguhan dan liabilitas pajak tangguhan deferred tax liabilities relate to the same taxable entity, or
berkaitan dengan entitas kena pajak yang sama, atau Perum BULOG and its Subsidiaries intend to settle its
Perum BULOG dan Entitas Anak bermaksud untuk current assets and liabilities on a net basis
menyelesaikan aset dan liabilitas pajak kini dengan dasar
neto.
Transaksi dan Saldo Dalam Mata Uang Asing Foreign Currency Transactions and Balances
Pembukuan Perum BULOG dan Entitas Anak The accounting records of Perum BULOG and its
diselenggarakan dalam mata uang Rupiah. Transaksi Subsidiaries are maintained in Rupiah. Transactions
dalam mata uang asing dijabarkan ke dalam Rupiah denominated in foreign currencies aare translated into
dengan kurs yang berlaku pada tanggal transaksi. Pada Rupiah at the exchange rates prevalling at the dates of the
akhir periode pelaporan, aset dan kewajiban moneter dalam transactions. At the end of reporting period, monetary assets
mata uang asing dijabarkan ke dalam Rupiah dengan and liabilities denominated in foreign currencies are
menggunakan kurs tengah yang ditetapkan oleh Bank translated into Rupiah using the middle rates of exchange
Indonesia pada tanggal tersebut. Keuntungan dan kerugian quoted by Bank Indonesia at such date. Exchange gains
yang timbul dari transaksi dalam mata uang asing dan and losses arising on foreign currency transactions and on
penjabaran aset dan liabilitas moneter dalam mata uang the translation of foreign currency monetary assets and
asing ke mata uang Rupiah diakui pada laba rugi. liabilities into Rupiah are recognized in the current period's
profit or loss.
Kurs yang digunakan untuk menjabarkan ke mata uang The exchange rates used for translation into Rupiah as of
Rupiah pada tanggal 31 Desember 2018 dan 2017 December 31, 2018 and 2017 are 1 USD = Rp 14,481 and
1 USD = Rp 14.481 dan 1 USD = Rp 13.548. 1 USD = Rp 13,548, respectively.
30

(continued)
Kontribusi Biaya/ Beban Usaha Contribution Cost/ Operating Expense
Kontribusi biaya/ beban usaha atas biaya pegawai, biaya Contribution costs/operating expenses which includes
kantor, biaya pajak biaya penyisihan piutang, dan beban personnel expenses, office expenses, tax expenses,
penyusutan aset tetap untuk masing-masing segmen provision for allowance, and depreciation of fixed assets for
dihitung berdasarkan formula sebagai berikut: each segment is calculated using the following formula:
1. Kontribusi biaya/ beban usaha Penugasan 1. Contribution costs/ operating expenses Government
Pemerintah {Public Service Obligation (PSO)}. Project {Public Service Obligation (PSO)}
𝐁𝐔𝐏 = 𝐓𝐏𝐏/𝐓𝐏 × 𝟏𝟎𝟎%
BUP = Beban Usaha Penugasan Pemerintah BUP = Government Business Project Operating Expenses
TPP = Jumlah Penghasilan Usaha Penugasan Pemerintah TPP = Total amount of Government Business Project Revenue
TP = Jumlah Penghasilan Perum BULOG TP = Total amount of Perum BULOG revenue
2. Kontribusi biaya/beban usaha Komersial. 2. Contribution costs/Commercial operating expenses.
𝐁𝐔𝐊 = 𝐓𝐏𝐊/𝐓𝐏 × 𝟏𝟎𝟎%
BUK = Beban Usaha Komersial dan Unit Bisnis BUK = Unit Business and Commercial Operating
TPK = Jumlah Penghasilan Usaha Komersial dan Unit Bisnis TPK ExpenseExpenses
= Total amount of Commercial and Unit Business Revenue
TP = Jumlah Penghasilan Perum BULOG TP = Total amount of Perum BULOG revenue
3. Penyajian kontibusi biaya/beban usaha dalam laporan 3. Contribution costs/operating expenses in the financial
keuangan dilakukan hanya pada laporan posisi statements is only presented in Perum BULOG’s
keuangan gabungan Perum BULOG. combined financial statements.
Imbalan Kerja Employee Benefits
Perum BULOG memberikan imbalan kerja dengan Perum BULOG provides employee benefits to its
mengikutsertakan karyawan dalam program dana pensiun employees through pension plans managed by
yang dikelola oleh PT Asuransi Jiwasraya (Persero) yang PT Asuransi Jiwasraya (Persero) as outlined in the
dituangkan dalam perjanjian kerja sama cooperative agreement No. PKK-63/03/2004 dated March
No.PKK-63/03/2004 tanggal 5 Maret 2004 dan 5, 2004 and No. PK-76/DS103/07/2012 dated July 4, 2012
No. PK-76/DS103/07/2012 tanggal 4 Juli 2012 tentang on the Management of Retirement Benefits Program of
Pengelolaan Program Kesejahteraan Hari Tua Pegawai Perum BULOG employees. In accordance with the Law
Perum BULOG. Sesuai dengan UU 13/2003, Perum No.13/2003. Perum BULOG is obliged to cover the shortage
BULOG berkewajiban menutupi kekurangan pembayaran of pension payments when the pension plan is currently not
pensiun bila program yang ada sekarang belum cukup sufficient to cover liabilities in accordance with the Law
menutupi kewajiban sesuai UU13/2003. 13/2003.
Perum BULOG dan Entitas Anak mengakui kewajiban Perum BULOG and its Subsidiaries recognized unfunded
imbalan kerja yang tidak didanai sesuai dengan Undang- employee benefits liability in accordance with Labor Law No.
undang Ketenagakerjaan No. 13/2003, tanggal 25 Maret 13/2003 dated March 25, 2003 (the “Labor Law”). Pension
2003. Beban pensiun berdasarkan program dana pensiun costs under the Perum BULOG and its Subsidiaries’ defined
manfaat pasti Perum BULOG dan Entitas Anak ditentukan benefit pension plans are determined by periodic actuarial
melalui perhitungan aktuaria secara periodik dengan calculation using the projected-unit-credit method and
menggunakan metode projected-unit credit dan applying the assumptions on discount rate, expected return
menerapkan asumsi atas tingkat diskonto, hasil yang on plan assets and annual rate of increase in compensation.
diharapkan atas aset program dan tingkat kenaikan
manfaat pasti pensiun tahunan.
31

(continued)
Imbalan Kerja (lanjutan) Employee Benefits (continued)
Seluruh pengukuran kembali, terdiri atas keuntungan dan All remeasurements, comprising of actuarial gains and
kerugian aktuarial dan hasil atas aset program (tidak losses, and the return of plan assets (excluding net interest)
termasuk bunga bersih) diakui langsung melalui are recognized immediately through other comprehensive
penghasilan komprehensif lainnya dengan tujuan agar income in order for the net pension asset or liability
aset atau kewajiban pensiun neto diakui dalam laporan recognized in the consolidated statement of financial
posisi keuangan konsolidasian untuk mencerminkan nilai position to reflect the full value of the plan deficit and surplus.
penuh dari defisit dan surplus program pensiun. Remeasurements are not reclassified to profit or loss in
Pengukuran kembali tidak mengreklasifikasi laba atau rugi subsequent periods.
pada periode berikutnya.
Seluruh biaya jasa lalu diakui pada saat yang lebih dulu All past service costs are recognized at the earlier of when
antara ketika amandemen/kurtailmen terjadi atau ketika the amendment or curtailment occurs and when the related
biaya restrukturisasi atau pemutusan hubungan kerja restructuring or termination costs are recognized
diakui
Bunga neto dihitung dengan menggunakan tingkat Net interest is calculated by applying the discount rate to the
diskonto terhadap liabilitas atau aset imbalan pasti neto. net defined benefit liability or asset. Service cost comprise
Biaya jasa terdiri dari biaya jasa kini dan biaya jasa lalu, current service costs and past service cost, gains and losses
keuntungan dan kerugian kurtailmen dan penyelesaian on curtailments and non-routine settlements, if any. Net
tidak rutin, jika ada. Beban atau pendapatan bunga neto, interest expense or income, and service costs are
dan biaya jasa diakui dalam laba atau rugi. recognized in profit or loss.
Investasi pada entitas asosiasi Investment in associate
Investasi Perum BULOG pada entitas asosiasi dicatat Perum BULOG Investment in associate is accounted for
dengan mengunakan metode ekuitas. Entitas asosiasi using the equity method. An associate is an entity in which
adalah entitas dimana Perum BULOG dan Entitas Anak Perum BULOG and its Subsidiaries significant influence.
mempunyai pengaruh signifikan. Dalam metode ekuitas, Under the equity method, the cost of investment is increased
biaya investasi ditambah atau dikurangi dengan bagian or decreased by Perum BULOG share in net earnings or
Perum BULOG atas laba atau rugi bersih, dan dividen losses, and dividends received from the investee since the
yang diterima dari investee sejak tanggal perolehan. date of acquisition.
Laporan laba rugi dan penghasilan komprehensif lain The consolidated statement of profit or loss and other
konsolidasian mencerminkan bagian atas hasil operasi comprehensive income reflects the results of operations of
dari entitas asosiasi. Bila terdapat perubahan yang diakui the associates. If there has been a change recognized
langsung pada ekuitas dari entitas asosiasi, Perum directly in the equity of the associates, Perum BULOG and
BULOG dan Entitas anak mengakui bagiannya atas its Subsidiaries recognize its share of any such changes and
perubahan tersebut dan mengungkapkan hal ini, jika discloses this, when applicable, in the statement of changes
berkaitan, dalam laporan perubahan ekuitas in equity. Unrealized gains or losses resulting from
konsolidasian. Laba atau rugi yang belum direalisasi transactions between Perum BULOG and its Subsidiaries
sebagai hasil dari transaksi antara Perum BULOG dan and the associates are eliminated to the extent of Perum
Entitas anak dengan entitas asosiasi dieliminasi sebesar BULOG and its Subsidiaries’ interest in the associates.
kepentingan Perum BULOG dan Entitas anak pada entitas
asosiasi.
Bagian laba entitas asosiasi merupakan laba yang dapat The share of profit of an associate is the profit attributable to
diatribusikan kepada pemegang saham entitas asosiasi equity holders of the associate and therefore is profit after
dan merupakan laba setelah pajak kepentingan tax NCI in the subsidiaries of the associate.
nonpengendali di entitas anak dari entitas asosiasi.
Laporan keuangan entitas asosiasi disusun dengan The financial statements of the associate are prepared for
mengunakan periode pelaporan yang sama dengan the same reporting period as the Perum BULOG and its
Perum BULOG dan Entitas Anak. Bila diperlukan, Subsidiaries. Where necessary, adjustments are made to
penyesuaian dilakukan untuk menjadikan kebijakan bring the accounting policies in line with those of the Perum
akuntansi sama dengan kebijakan Perum BULOG dan BULOG and its Subsidiaries.
Entitas Anak.
32

(continued)
Investasi pada entitas asosiasi (lanjutan) Investment in associate (continued)
Perum BULOG dan Entitas Anak menentukan apakah Perum BULOG and its Subsidiaries determine whether it is
perlu untuk mengakui tambahan penurunan nilai atas necessary to recognize an additional impairment loss on
investasi Grup pada entitas asosiasi. Perum BULOG dan Perum BULOG and its Subsidiaries’ investment in its
Entitas Anak menentukan pada setiap tanggal pelaporan associate. Perum BULOG and its Subsidiaries determine at
apakah terdapat bukti yang obyektif yang mengindikasikan each reporting date whether there is any objective evidence
bahwa investasi pada entitas asosiasi mengalami that the investment in associate is impaired. If this is the
penurunan nilai. Dalam hal ini, Perum BULOG dan Entitas case, Perum BULOG and its Subsidiaries calculate the
Anak menghitung jumlah penurunan nilai berdasarkan amount of impairment as the difference between the
selisih antara jumlah terpulihkan atas investasi pada recoverable amount of the investment in associate and its
entitas asosiasi dan nilai tercatatnya dan mengakuinya carrying value, and recognizes the amount in profit or loss.
dalam laporan laba rugi dan penghasilan komprehensif
lain konsolidasian.
Jika bagian Perum BULOG dan Entitas Anak atas rugi If Perum BULOG and its Subsidiaries’ share of losses of an
entitas asosiasi sama dengan atau melebihi associate equals or exceeds its interest in the associate,
kepentingannya pada entitas asosiasi, maka Perum Perum BULOG and its Subsidiaries discontinue to recognize
BULOG dan Entitas anak menghentikan pengakuan its share of further losses. The interest in an associate is the
bagiannya atas rugi lebih lanjut. Kepentingan pada entitas carrying amount of the investment in the associate under the
asosiasi adalah jumlah tercatat investasi pada entitas equity method together with any long - term interest that, in
asosiasi dengan metode ekuitas ditambah dengan setiap substance, form part of the investor’s net investment in the
kepentingan jangka panjang yang secara substansi, associate.
membentuk bagian investasi neto investor pada entitas
asosiasi.
Ketika kehilangan pengaruh yang signifikan terhadap Upon loss of significant influence over the associate, Perum
entitas asosiasi, Perum BULOG dan Entitas Anak BULOG and its Subsidiaries measure and recognize any
mengukur dan mengakui setiap investasi yang tersisa retaining investment at its fair value. Any difference between
pada nilai wajar. Selisih antara nilai tercatat asosiasi the carrying amount of the associate upon loss of significant
setelah hilangnya pengaruh signifikan dan nilai wajar dari influence and the fair value of the retaining investment and
investasi yang tersisa dan hasil dari penjualan diakui proceeds from disposal is recognized in profit or loss.
dalam laporan laba rugi.
Informasi Segmen Segment Information
Segmen adalah bagian khusus dari Perum BULOG dan A segment is a distinguishable componet of Perum BULOG
Entitas Anak yang terlibat baik dalam menyediakan produk and its Subsidiaries that is engaged either in providing
dan jasa (segmen usaha), maupun dalam menyediakan certain products (business segment), or in providing
produk dan jasa dalam lingkungan ekonomi tertentu products within a particular economic environment
(segmen geografis), yang memiliki risiko dan imbalan yang (geographical segment), which is subject to risks and
berbeda dari segmen lainnya. rewards that are different from those of other segments.
Pendapatan, beban, hasil, aset dan liabilitas segmen Segment revenue, expenses, results, assets and liabilities
termasuk item-item yang dapat diatribusikan langsung include items directly attributable to a segment as well as
kepada suatu segmen serta hal-hal yang dapat those that can be allocated on a reasonable basis to that
dialokasikan dengan dasar yang sesuai kepada segmen segment.
tersebut.
Untuk kepentingan manajemen, Perum BULOG dan For management purposes, Perum BULOG and its
Entitas Anak membagi segmen usahanya menjadi dua (2) Subsidiaries divide its business segments into two (2) main
segmen utama, yaitu: Pelayanan Publik dan Komersial. segments, namely: Public and Commercial Services.
Informasi keuangan tentang segmen usaha ini disajikan Financial information on business segments is presented in
dalam Catatan 35. Note 35.
Penyesuaian Tahunan 2017 2017 Annual Improvements
Perum BULOG dan Entitas Anak menerapkan penyesuaian- Perum BULOG and its Subsidiaries adopted the following
penyesuaian tahun 2017, berlaku efektif 2017 annual improvements effective January 1, 2018:
1 Januari 2018 sebagai berikut:
- PSAK 15 (Penyesuaian 2017) - "Investasi pada Entitas - PSAK 15 (2017 Improvement) - “Investment in
Asosiasi dan Ventura Bersama” associates and Joint Ventures”
Penyesuaian ini mengklarifikasi bahwa pada saat This improvement clarified that at initial recognition the
pengakuan awal entitas dapat memilih untuk mengukur entity may elect to measure its investee at fair value on
investee-nya pada nilai wajar atas dasar investasi-per- the basis of investment-per-investment.
investasi.
33

(continued)
Penyesuaian Tahunan 2017 (lanjutan) 2017 Annual Improvements (continued)
- PSAK 67 (Penyesuaian 2017) - " Pengungkapan - PSAK 67 (2017 Improvement) - “Disclosure of Interest in
Kepentingan dalam Entitas Lain” Other Entities”
Penyesuaian ini mengklarifikasi bahwa persyaratan This improvement clarified that the disclosure
pengungkapan dalam PSAK 67, selain daripada yang requirements in PSAK 67, other than those in paragraphs
dideskripsikan dalam paragraf PP10–PP16, juga B10-B16, also applied to every interest in an entity that
diterapkan pada setiap kepentingan dalam entitas yang is classified in accordance with PSAK 58: Non-current
diklasifikasikan sesuai dengan PSAK 58: Aset Tidak Assets Held for Sale and Discontinued Operation.
Lancar yang Dikuasai untuk Dijual dan Operasi yang
Dihentikan.
Penerapan dari penyesuaian-penyesuaian tahunan 2017 The adoption of the 2017 annual improvements has no
tidak memiliki dampak signifikan terhadap laporan significant impact on the consolidated financial statements.
keuangan konsolidasian.
3. PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN 3. USE OF JUDGEMENTS, ESTIMATES AND

ASUMSI ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian Perum The preparation of Perum BULOG and its Subsidiaries'
BULOG dan Entitas Anak mengharuskan manajemen untuk consolidated financial statements requires management to
membuat pertimbangan, estimasi dan asumsi yang make judgements, estimates and assumptions that effect
mempengaruhi jumlah yang dilaporkan, dan pengungkapan the reported amounts herein, and the related disclosures, at
yang terkait, pada akhir periode pelaporan. Namun, the end of the reporting period. However, uncertainty about
ketidakpastian tentang asumsi dan estimasi ini dapat thes assumptions and estimates could result in outcomes
menimbulkan dampak yang membutuhkan penyesuaian that require a material adjustment to the carrying amount of
material terhadap nilai tercatat aset atau liabilitas yang the asset or liability affected in future periods.
terpengaruh di masa mendatang.
Pertimbangan Judgements
Dalam proses penerapan kebijakan akuntansi Perum In the process of applying Perum BULOG and its
BULOG dan Entitas Anak, manajemen telah membuat Subsidiaries’ accounting policies, management has made
pertimbangan-pertimbangan berikut, yang memiliki the following judgements, which have the most significant
pengaruh paling signifikan terhadap jumlah yang diakui effect on the amounts recognized in the consolidated
dalam laporan keuangan konsolidasian: financial statements:
Klasifikasi Instrumen Keuangan Classification of financial instruments
Perum BULOG dan Entitas Anak menentukan klasifikasi Perum BULOG and its Subsidiaries determine the
aset dan kewajiban sebagai aset keuangan dan kewajiban classification of certain assets and liabilities as financial
keuangan tertentu dengan menilai apakah mereka assets and financial liabilities by judging if they meet the
memenuhi definisi yang ditetapkan dalam PSAK No. 55 definition set forth in PSAK No. 55 (Revised 2014).
(Revisi 2014). Dengan demikian, aset keuangan dan Accordingly, the financial assets and financial liabilities are
kewajiban keuangan dicatat sesuai dengan kebijakan accounted for in accordance with the Perum BULOG and its
akuntansi Perum BULOG dan Entitas Anak dijelaskan Subsidiaries' accounting policies disclosed in Note 2.
dalam Catatan 2.
Cadangan atas Penurunan Nilai Piutang usaha dan Piutang Allowance for Impairment of Trade Receivables and Other
lain-lain Receivables
Perum BULOG dan Entitas Anak mengevaluasi akun Perum BULOG and its Subsidiaries evaluate specific
tertentu jika terdapat informasi bahwa pelanggan yang accounts where it has information that certain customers are
bersangkutan tidak dapat memenuhi kewajiban unable to meet their financial obligations. In these cases,
keuangannya. Dalam hal tersebut, Perum BULOG dan Perum BULOG and its Subsidiaries use judgement, based
Entitas Anak mempertimbangkan, berdasarkan fakta dan on the best available facts and circumstances, including but
situasi yang tersedia, termasuk namun tidak terbatas pada, not limited to, the lenght of its relationship with the customer
jangka waktu hubungan dengan pelanggan dan status kredit anfd the customer's current credit status based on third party
dari pelanggan berdasarkan catatan kredit untuk mencatat credit reports and known market factors, to record specific
provisi spesifik atas piutang pelanggan guna mengurangi provisions for customers against amounts due to reduce its
piutang yang diharapkan dapat diterima oleh Perum receivable amounts that Perum BULOG and its Subsidiaries
BULOG dan Entitas Anak. Provisi yang spesifik ini expect to collect. These specific provisions are re-evaluated
dievaluasi kembali dan disesuaikan jika tambahan informasi and adjusted as additional information received affects the
yang diterima mempengaruhi jumlah penyisihan penurunan amounts of allowance for impairment of trade receivable.
nilai untuk piutang usaha.
34

ASUMSI (lanjutan) ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgements (continued)
Cadangan atas Penurunan Nilai Piutang usaha dan Piutang Allowance for Impairment of Trade Receivables and Other
lain-lain (lanjutan) Receivables (continued)
Nilai tercatat piutang usaha Perum BULOG dan Entitas The carrying amount of the Perum BULOG and its
Anak sebelum penyisihan penurunan nilai masing-masing Subsidiaries' trade receivables before allowance for
sebesar Rp 2.230.145.374.560 dan Rp 1.373.095.402.098 impairment amounted to Rp 2,230,145,374,560 and
pada tanggal 31 Desember 2018 dan 2017 (Catatan 6). Rp 1,373,095,402,098 as of December 31, 2018 and 2017,
Sementara piutang lain-lain masing-masing sebesar respectively (Note 6 ). While other receivable amounted to
Rp 116.914.255.881 dan Rp 77.722.423.161 pada tanggal Rp 116,914,255,881 and Rp 77,722.423,161 as of
31 Desember 2018 dan 2017 (Catatan 7). December 31, 2018 and 2017, respectively (Note 7 ).
Penentuan Mata Uang Fungsional Determination of functional currency
Mata uang fungsional Perum BULOG dan Entitas Anak The functional currency of Perum BULOG and its
adalah mata uang dari lingkungan ekonomi primer dimana Subsidiaries is the currency of the primary economic
entitas beroperasi. Mata uang tersebut adalah mata uang environment in which each entity operates. It is the currency
yang mempengaruhi pendapatan dan beban dari jasa yang that mainly influences the revenue and cost of rendering
diberikan. Berdasarkan penilaian manajemen Perum services. Based on the Perum BULOG and its Subsidiaries
BULOG dan Entitas Anak mata uang fungsional adalah management assessment, their functional currency is in
Rupiah. Rupiah.
Estimasi dan Asumsi Estimates and Assumptions
Asumsi utama masa depan dan ketidakpastian sumber The key assumptions concerning the future and other key
estimasi utama lain pada tanggal pelaporan yang memiliki sources of estimation uncertainty at the end of the reporting
risiko signifikan bagi penyesuaian yang material terhadap period, that have a significant risk of causing a material
nilai tercatat aset dan liabilitas untuk tahun berikutnya adjustment to the carrying amounts of assets and liabilities
diungkapkan di bawah ini. Perum BULOG dan Enitas Anak within the next financial year, are described below. Perum
mendasarkan asumsi dan estimasi pada parameter yang BULOG and its Subsidiaries based its assumptions and
tersedia pada saat laporan keuangan konsolidasian estimates on parameters available when the consolidated
disusun. Asumsi dan situasi mengenai perkembangan masa financial statements were prepared. Existing circumstances
depan mungkin berubah akibat perubahan pasar atau and assumptions about future developments however, may
situasi di luar kendali Perum BULOG dan Entitas Anak. change due to market changes or circumstances arising
Perubahan tersebut dicerminkan dalam asumsi terkait pada beyond the control of Perum BULOG and its Subsidiaries.
saat terjadinya. Such changes are reflected in the assumptions when they
occurs.
Penyusutan Aset Tetap dan Properti Investasi Depreciation of fixed assets and investment properties
Biaya perolehan aset tetap dan properti investasi The costs of fixed assets and investment properties are
disusutkan dengan menggunakan metode garis lurus depreciated on a straight-line basis over their estimated
berdasarkan taksiran masa manfaat ekonomisnya. useful lives. Management estimates the useful lives of
Manajemen mengestimasikan masa manfaat ekonomis these fied assets and investment properties to be within 4 to
aset tetap dan properti investasi antara 4 sampai 20 tahun. 20 years. These are common life expectancies applied in
Ini adalah umur yang secara umum diharapkan dalam the industries where the Perum BULOG and its Subsidiaries
industri dimana Perum BULOG dan Entitas Anak conduct it businesses. Changes in the expected level of
menjalankan bisnisnya. Perubahan tingkat pemakaian dan usage and technological development could impact the
perkembangan teknologi dapat mempengaruhi masa economic useful lives and the residual values of these
manfaat ekonomis dan nilai sisa aset, dan karenanya biaya assets, anf therefore future depreciation charges could be
penyusutan masa depan mungkin direvisi. Penjelasan lebih revised. Further details are disclosed in Notes 12 and 13.
rinci diungkapkan dalam Catatan 12 dan 13.
Imbalan Pasca Kerja Employee benefits
Penentuan liabilitas dan biaya imbalan kerja karyawan The determination of Perum BULOG and its Subsidiaries
Perum BULOG dan Entitas Anak bergantung pada obligations and cost for employess benefits liability is
pemilihan asumsi yang digunakan oleh aktuaris independen dependent on its selection of certain assumptions used by
dalam menghitung jumlah-jumlah tersebut. Asumsi tersebut the independent actuaries in calculating such amounts.
termasuk antara lain, tingkat diskonto, tingkat kenaikan gaji Those assumptions include among others, discount rates,
tahunan, tingkat pengunduran diri karyawan tahunan, future annual salary increase, annual employee turn-over
tingkat kecacatan, umur pensiun dan tingkat kematian. Hasil rate, disability rate, retirement age and mortality rate. Actual
aktual yang berbeda dari asumsi yang ditetapkan Perum results that differ from Perum BULOG and its Subsidiaries’
BULOG dan Entitas Anak diakui segera pada laporan posisi assumptions are recognized immediately in the
keuangan konsolidasian dengan debit atau kredit ke saldo consolidated statement of financial posision with a
laba melalui penghasilan komprehensif lainnya dalam corresponding debit or credit to retained earning through
periode terjadinya. other comprehensive income in the period which they occur.
35

ASUMSI (lanjutan) ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Imbalan Pascakerja (lanjutan) Employee benefits (continued)
Sementara Perum BULOG dan Entitas Anak berkeyakinan While Perum BULOG and its Subsidiaries believe that its
bahwa asumsi tersebut adalah wajar dan sesuai, assumptions are reasonable and appropriate, significant
perbedaan signifikan pada hasil aktual atau perubahan differences in Perum BULOG and its Subsidiaries actual
signifikan dalam asumsi yang ditetapkan Perum BULOG experiences or significant changes in Perum BULOG and its
dan Entitas Anak dapat mempengaruhi secara material Subsidiaries' assumptions may materially affect its
liabilitas diestimasi atas pensiun dan imbalan kerja dan estimated liability for employee benefits and net employee
beban imbalan kerja neto. Nilai tercatat atas estimasi benefits expense. The carrying amount of Perum BULOG
liabilitas imbalan kerja Perum BULOG dan Entitas Anak and its Subsidiaries' estimated liability for employee
pada tanggal 31 Desember 2018 dan 2017 sebesar benefits as of December 31, 2018 and 2017 are
Rp 159.854.034.326 dan Rp 273.915.092.903 (Catatan 24). Rp 159,854,034,326 and Rp 273,915,092,903 (Note 24).
Pajak Penghasilan Income Tax
Pertimbangan signifikan dilakukan dalam menentukan Significant judgement is involved in determining the
provisi atas pajak penghasilan badan. Terdapat transaksi provision for corporate income tax. There are certain
dan perhitungan tertentu yang penentuan pajak akhirnya transactions and computation for which the ultimate tac
adalah tidak pasti dalam kegiatan usaha normal. Perum determination is uncertain during the ordinary course of
BULOG dan Entitas Anak mengakui liabilitas atas pajak business. Perum BULOG and it’s Subsidaries recognizes
penghasilan badan berdasarkan estimasi apakah akan liabilities for expected corporate income tax issues based on
terdapat tambahan pajak penghasilan badan. estimates of whether additional corporate income tax will be
due.
Aset pajak tangguhan Deferred tax assets
Aset tangguhan diakui atas seluruh rugi fiskal yang belum Deferred tax assets are recognized for all deductible
digunakan sepanjang besar kemungkinannya bahwa temporary differences and unused fiscal losses to the extent
penghasilan kena pajak akan tersedia sehingga rugi fiskal that it is probable that taxable profit will be available against
tersebut dapat digunakan. Estimasi signifikan oleh which the temporary differences and losses can be utilized
manajemen diharuskan dalam menentukan jumlah aset significant management estimated are required to determine
pajak tangguhan yang dapat diakui, berdasarkan saat the amount of deferred tax assets that can be recognized,
penggunaan dan tingkat penghasilan kena pajak serta based upon the likely timing and the level of future taxable
strategi perencanaan pajak masa depan. profits together with future tax planning strategies.
Penyisihan Penurunan Nilai Pasar dan Keusangan Allowance for Decline in Market Values and Obsolescence
Persediaan of Inventories
Penyisihan penurunan nilai pasar dan keusangan Allowance for decline in market values and obsolescence of
persediaan diestimasi berdasarkan fakta dan situasi yang inventories is estimated based on the best available facts
tersedia, termasuk namun tidak terbatas kepada, kondisi and circumstances, including but not limited to, the
fisik persediaan yang dimiliki, harga jual pasar, estimasi inventories’ own physical conditions, their market selling
biaya penyelesaian dan estimasi biaya yang timbul untuk prices, estimated costs to be incurred for their sales. The
penjualan. Provisi dievaluasi kembali dan disesuaikan jika provisions are re-evaluated and adjusted as additional
terdapat tambahan informasi yang mempengaruhi jumlah information received affects the amount estimated. Further
yang diestimasi. Penjelasan lebih rinci diungkapkan dalam details are disclosed in Notes 2 and 10.
Catatan 2 dan 10.
4. KOMBINASI BISNIS 4. BUSINESS COMBINATION
Pada tanggal 30 September 2016, Perum BULOG dan On September 30, 2016, Perum BULOG and PT Pandu
PT Pandu Agro Nusantara membeli masing-masing sebesar Agro Nusantara purchased 70% and 30% share ownership
70% dan 30% kepemilikan saham PT Gendhis Multi Manis. of PT Gendhis Multi Manis. PT Gendhis Multi Manis is
PT Gendhis Multi Manis terdaftar di Blora dan bisnis registered in Blora and its principal business is producing
utamanya adalah memproduksi gula kristal putih. white sugar
Tabel berikut ini merangkum harga perolehan, jumlah aset The following table summarizes the purchase consideration,
yang diperoleh dan liabilitas yang diambilalih pada tanggal the amount of net liabilities acquired at the acquisition date.
akuisisi.
Aset yang diperoleh 77.000.000.000 Assets consideration

Nilai liabilitas neto (61.725.233.618 ) Net liabilities acquired
Goodwill 138.725.233.618 Goodwill
36
5. KAS DAN SETARA KAS 5. CASH AND CASH EQUIVALENTS
Akun ini terdiri dari: This account consists of:
2018 2017
Kas Cash on hand

PSO PSO
Kas pajak 1.295.330.395 1.967.791.366 Cash tax
Kas manajemen 670.218.378 1.436.567.535 Cash management
Kas eksploitasi 553.528.014 994.486.741 Cash exploitation
Kas valas (USD) 311.544.234 291.471.672 Cash in foreign exchange (USD)
Kas lain-lain 892.672.748 2.507.593.747 Other cash
3.723.293.769 7.197.911.061
Komersial Commercial
Kas komersial 1.463.980.096 1.729.038.843 Cash commercial
Kas PT JPLB 308.881.364 537.020.208 Cash PT JPLB
Kas UB Ujastasma 305.317.200 164.661.919 Cash UB Ujastasma
Kas UB Opaset 159.806.796 120.325.951 Cash UB Opaset
Kas PT GMM 35.637.638 25.734.321 Cash PT GMM
2.273.623.094 2.576.781.242
Sub total 5.996.916.863 9.774.692.303 Sub total
Bank Cash in banks

PSO PSO
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 2.823.297.267.947 4.105.607.580.595 (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 330.210.306.097 829.329.166 (Persero) Tbk
PT Bank Bukopin Tbk 75.354.109.688 152.223.149.896 PT Bank Bukopin Tbk
PT Bank Mandiri (Persero) Tbk 228.391.558 216.351.094 PT Bank Mandiri (Persero) Tbk
Bank Lainnya 238.529.334 2.509.299.262 Other banks
3.229.328.604.624 4.261.385.710.013
Bank Cash in banks
(Persero) Tbk 545.125.775.746 519.206.325.626 (Persero) Tbk
PT Bank Syariah Bukopin - 2.477.185.237 PT Bank Syariah Bukopin
PT Bank Mandiri (Persero) Tbk 9.340.083.179 624.624.293 PT Bank Mandiri (Persero) Tbk
PT Bank Central Asia 292.390.645 10.730.708 PT Bank Central Asia
Bank Lainnya 2.100.728 - Other banks
2.732.879.788.526 2.519.931.304.131
Sub total 5.962.208.393.150 6.781.317.014.144 Sub total
Uang dalam perjalanan Cash in transit

PSO - 18.000.000 PSO
37
5. KAS DAN SETARA KAS (lanjutan) 5. CASH AND CASH EQUIVALENTS (continued)
2018 2017
Deposito Time deposits

Rupiah Rupiah
(Persero)Tbk 1.027.615.705.078 1.471.266.878.343 (Persero) Tbk
PT Bank Syariah Bukopin - 8.000.000.000 PT Bank Syariah Bukopin
1.271.846.750.078 1.905.592.565.275
Dolar Amerika Serikat US Dollar
334.684.003.140 309.760.659.120
KSO KSO
Modal Kerja Komersial 323.828.650 48.730.094 Working Capital - Commercial
Total 7.575.059.891.881 9.006.511.660.936 Total
Suku bunga per tahun deposito berjangka yang berlaku The annual interest rates of the time deposits during the year
selama periode berjalan adalah: are as follows:
2018 2017
Deposito Rupiah 6,75% - 7,75% 6,25% - 7,75% Rupiah deposit

Deposito Dolar Amerika Serikat 1,25% - 2,00% 0,75% US Dollar deposit
6. PIUTANG USAHA 6. TRADE RECEIVABLES

2018 2017
Pemerintah Government
Kompensasi stabilisasi gula 699.982.936.607 330.658.163.342 Sugar stabilization compensation
Cadangan beras pemerintah
(Catatan 18) 649.961.783.501 - Government rice reserve (Note 18)
Golongan anggaran pusat 208.397.748.872 159.233.240.790 Central budget group
Margin fee gula (Catatan 30) 186.964.834.677 25.953.581.680 Sugar margin fee (Note 30)
Rastra 13.590.730.453 117.801.704.045 Rice subsidy for poor (Rastra)
Kementerian lainnya 12.869.769.260 19.435.182.197 Other ministries
Kementerian keuangan - 138.114.658.451 Ministry of finance
Sub total 1.771.767.803.370 791.196.530.505 Sub total
Non-Pemerintah Non-Government
PSO PSO
Klaim 274.627.749.975 261.826.902.197 Claims
Swasta 821.051.181 887.803.291 Private
BUMN 367.788.100 135.655.799.567 BUMN
38
6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)
2018 2017
Swasta 90.713.415.640 77.990.094.819 Private
BUMN 81.224.555.350 92.243.585.835 BUMN
Jasa angkutan 9.073.976.860 12.275.748.991 Service freight
Sewa 116.245.876 118.345.876 Rental
UB Ujastasma 43.397.895 11.779.499 UB Ujastasma
Lainnya 1.389.390.313 888.811.518 Others
Total 2.230.145.374.560 1.373.095.402.098 Total

Dikurangi: cadangan penurunan nilai (263.273.538.198 ) (260.702.360.475 ) Less: allowance for impairment
Neto 1.966.871.836.362 1.112.393.041.623 Net
Mutasi cadangan penurunan nilai adalah sebagai berikut: Movements in allowance for impairment are as follows:
2018 2017
Saldo awal 260.702.360.475 239.836.441.955 Beginning balance

Penambahan (Catatan 29) 2.955.838.896 20.865.918.520 Provision during the year (Note 29)
Pemulihan (384.661.173 ) - Recovery
Saldo akhir 263.273.538.198 260.702.360.475 Ending balance
Piutang golongan anggaran pusat merupakan piutang atas Receivables from Central budget group represents
penjualan kepada pegawai negeri pusat receivable from sales to government employees,
ABRI/HANKAM/POLRI, departemen transmigrasi, ABRI/HANKAM/POLRI, transmigration department, judicial
departemen kehakiman dan departemen sosial. department and the social department.
Piutang Kementerian Keuangan adalah piutang atas subsidi Receivables from Ministry of Finance represents
beras Rastra. Berdasarkan berita acara hasil pemeriksaan receivables related with Rastra rice subsidy. Based on the
perhitungan subsidi beras bagi masyarakat berpendapatan minutes of the examination results in 2018 on the calculation
rendah tahun 2017 oleh BPK, jumlah subsidi yang harus of rice subsidy for low-income communities in Year 2017 by
dikembalikan Perum BULOG kepada Pemerintah sebesar BPK, Perum BULOG should return to the Government
Rp 834.824.264.977 dibebankan sebagai “Beban lain-lain - amounting to Rp 834,824,264,977 which is charged to
Beras/gabah” pada laporan laba rugi, dimana pembayaran "Other expenses - Rice/grain” in profit or loss. This payment
tersebut dilakukan dengan cara mengkompensasi piutang is net-off to the rice subsidy receivables amounting to
atas subsidi beras Rastra sebesar Rp 138.114.658.451 dan Rp 138,114,658,451 while the remainder was paid by
sisanya dibayarkan oleh Perum BULOG. Perum BULOG.
Berdasarkan surat Menteri Badan Usaha Milik Negara Based on the Minister of State-Owned Enterprises Letter
No. S-411/MBU/07/2017 tentang Penugasan Perum No. S-411/MBU/07/2017 concerning Appointment of Perum
BULOG dalam rangka Pengadaan gabah dan beras dengan BULOG in the Procurement of grain and rice with price
fleksibilitas harga, selisih harga beli aktual gabah dan beras flexibility, the difference between the actual purchase price
dan harga yang ditetapkan oleh Pemerintah akan of grain and rice and the amount set by the Government will
dibayarkan oleh Pemerintah melalui Dana Cadangan be paid by the Government through Reserve Fund for
Stabilisasi Harga Pangan (CSHP). Stabilization of Food Prices (CSHP).
Berdasarkan surat Kementerian Koordinator BIdang Based on the letter of the Coordinating Ministry for Economic
Perekonomian Republik Indonesia Affairs of the Republic of Indonesia
No. S-63/SES.M.EKON/02/2018 tanggal 14 Pebruari 2018, No. S-63/SES.M.EKON/02/2018 dated February 14, 2018
mengenai kebijakan dalam rangka Pengadaan gabah dan concerning policy for Procurement of grain and rice with price
beras dengan fleksibilitas harga berlaku sampai flexibility, such policy is valid until April 30, 2018.
30 April 2018.
Berdasarkan surat Menteri Badan Usaha Milik Negara Based on the Minister of State-Owned Enterprises Letter
No. S-274/MBU/05/2017 dan Menteri Perdagangan No. S-274/MBU/05/2017 and Minister of Trade Letter
Republik Indonesia No. 450/M-DAG/SD/4/2017 tentang No. 450/M-DAG /SD/4/2017 concerning Appointment of
Penugasan Kepada Perum BULOG untuk Stabilisasi Harga Perum BULOG for Price Stabilization in the Market, the
di Pasar Rakyat, selisih penyaluran gula merupakan selisih difference in the distribution of sugar represents the
harga beli gula dan harga jual gula yang yang ditetapkan difference between the purchase price of sugar and the
oleh Pemerintah yang akan dibayarkan melalui Dana selling price of sugar set by the Government that will be paid
Cadangan Stabilisasi Harga Pangan (CSHP). by the Government through the Food Stabilization Reserve
Reserve Fund (CSHP).
39
6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)
Penyisihan atas penurunan nilai Piutang Allowance for impairment on Receivables

Kebijakan manajemen Perum BULOG adalah sebagai Perum Bulog’s management policy are as follows:
berikut:
1. Piutang usaha yang telah dihapusbukukan dan dapat 1. Written off trade receivables that have been recovered
ditagih kembali diakui sebagai pendapatan lain-lain saat are recognized as other income in the amount received
diterimanya pembayaran sebesar jumlah yang diterima. upon receipt of payment
2. Berdasarkan hasil analisis piutang masing-masing 2. Based on the analysis of trade receivables from each
debitur, penyisihan terhadap piutang usaha akan dibuat debtor, allowance on trade receivables will be provided
piutang.
3. Piutang kepada Pemerintah dikategorikan sebagai 3. Receivables from the Government is categorized as
piutang lancar. Besarnya penyusutan 0%. Piutang current receivables. The amount of allowance is 0%.
rastra termasuk dalam piutang usaha kepada Rastra receivables are included in trade receivables
Pemerintah. from the Government.
4. Piutang usaha kepada Non Pemerintah : 4. Trade Receivables from Non-Government:
i. Piutang lancar, bila berumur kurang dari setahun i. Current receivables, aged less than a year and the
dan pembayarannya lancar. Besarnya payment is current. 0% Provision
penyusutan 0% ii. Non-current receivables, aged more than a year
ii. Piutang kurang lancar, bila berumur lebih dari and there is payment but not smooth. 15%
setahun dan ada pembayaran namun tidak lancar. Provision
Besarnya penyusutan 15% iii. Doubtful receivables, aged than a year, no
iii. Piutang diragukan, bila berumur lebih dari payment and collections is uncertain. 50%
setahun, tidak ada pembayaran dan diragukan Provision
pengembaliannya. Besarnya penyustan 50% iv. Bad debts, aged more than a year, no payment,
iv. Piutang tidak tertagih, bila berumur dari setahun collection is difficult and problematic (dispute/ trial).
tidak ada pembayaran, sulit diharapkan untuk 100% Provision
dapat ditagih dan bermasalah
(sengketa/peradilan). Besarnya penyusutan
100%
Piutang usaha Entitas Anak digunakan sebagai jaminan Trade receivables of Subsidiaries are pledged as collateral
atas fasilitas pinjaman yang diperoleh dari kreditur (Catatan to the loan facilities obtained from creditors (Notes 17 and
17 dan 23). 23).
Manajemen berkeyakinan bahwa penyisihan penurunan Management believes that the allowance for impairment is
nilai cukup untuk menutup kemungkinan kerugian yang adequate to cover possible losses that may arise from the
timbul dari tidak tertagihnya piutang usaha. uncollectibility of trade receivables.
7. PIUTANG LAIN-LAIN 7. OTHER RECEIVABLES

Rincian akun ini adalah sebagai berikut : The details of this account are as follows:
2018 2017
PSO PSO
Piutang pegawai 112.581.204 154.301.618 Due from employees
Lain-lain 109.056.484 364.761.724 Others
Sub total 221.637.688 519.063.342 Sub total
PIB 47.049.934.297 47.049.934.297 PIB
Klaim kepada perusahaan pelayaran 35.232.540.052 - Claim to shipping line
Petani tebu 17.523.269.237 16.769.379.046 Cane farmers
Jasa angkutan 4.035.639.184 1.433.062.576 Service freight
Lain-lain 12.851.235.423 11.950.983.900 Others
Total 116.914.255.881 77.722.423.161 Total

Dikurangi: cadangan penurunan nilai (65.384.360.238 ) (57.081.850.827 ) Less: allowance for impairment
Neto 51.529.895.643 20.640.572.334 Net
40
7. PIUTANG LAIN-LAIN (lanjutan) 7. OTHER RECEIVABLES (continued)

2018 2017

Penambahan (Catatan 29) 8.617.027.942 8.539.911.780 Provision (Note 29)
Pemulihan (314.518.531 ) - Recovery
Manajemen berkeyakinan bahwa penyisihan penurunan Management believes that the allowance for impairment is
nilai cukup untuk menutup kemungkinan kerugian yang adequate to cover possible losses that may arise from the
timbul dari tidak tertagihnya piutang lain-lain. uncollectibility of other receivables.
8. UANG MUKA 8. ADVANCES
Uang muka terdiri dari: Advances consist of:
2018 2017
PSO PSO
Manajemen 8.851.681.188 17.439.074.153 Management
Pengadaan 1.273.414.389 1.163.487.038 Procurement
Eksploitasi 460.010.702 1.139.596.563 Exploitation
Lain-lain 1.392.966.000 2.791.526.283 Others
Manajemen 8.139.769.349 3.212.205.512 Management
UB Ujastasma 80.625.303 200.077.040 UB Ujastasma
UB Opaset 76.730.944 21.765.519 UB Opaset
Total 20.275.197.875 25.967.732.108 Total
Akun ini merupakan pemberian uang muka operasional This account represents operational advances in regional
divre-divre, kantor pusat dan unit bisnis pada tanggal division, head office and business unit as of December 31,
31 Desember 2018 dan 2017. 2018 and 2017.
9. PEKERJAAN DALAM PROSES 9. WORK IN PROGRESS
Akun ini adalah pekerjaan pengangkutan yang masih dalam This account represents freight services in process. As
proses. Pada tanggal 31 Desember 2018 dan 2017 total of December 31, 2018 and 2017, the amount of work in
pekerjaan dalam proses masing-masing sebesar process amounted to Rp 59,187,115,471 and
Rp 59.187.115.471 dan Rp 93.513.729.982. Rp 93,513,729,982, respectively.
10. PERSEDIAAN 10. INVENTORIES
Rincian persediaan adalah sebagai berikut: The details of inventories are as follows:
2018 2017
Barang dagangan 23.990.529.688.128 11.057.204.249.241 Goods inventories

Barang dalam perjalanan 508.117.971.305 1.363.292.171.334 Goods in transit
Barang pelengkap/pembantu 229.704.452.386 176.946.920.567 Complementary goods
Barang dagangan dalam proses 3.285.543.456 23.336.690.027 Work in process

Dikurangi: cadangan penurunan nilai (18.648.844.786 ) - Less: allowance for impairment
Total 24.712.988.810.489 12.620.780.031.169 Total
41
10. PERSEDIAAN (lanjutan) 10. INVENTORIES (continued)
a. Barang dagangan a. Goods inventories
2018 2017
PSO PSO
Beras 16.513.686.731.178 6.208.248.665.610 Rice
Gabah 101.806.091.288 43.702.724.598 Grain
Gula pasir 4.668.353.482.125 3.472.474.493.944 Refined sugar
Daging 1.035.222.257.139 1.120.338.878.028 Beef
Beras 1.520.245.663.394 99.846.197.428 Rice
Jagung 120.577.367.462 93.766.948.616 Corn
Minyak goreng 29.047.106.046 14.546.074.952 Cooking oil
Terigu 1.272.989.218 869.975.617 Wheat
Bawang 102.814.745 3.314.969.428 Onion
Lain-lain 215.185.533 95.321.020 Others
Total 23.990.529.688.128 11.057.204.249.241 Total
b. Barang dalam perjalanan b. Goods in transit
2018 2017
Barang dagangan Goods inventories
Gula pasir 270.808.582.353 579.872.067.542 Refined sugar
Beras 202.298.217.355 775.261.908.532 Rice
Jagung 16.825.841.056 1.186.923.708 Corn
Bawang 15.109.479.491 237.241.705 Onion
Daging 2.187.254.432 2.233.686.173 Beef
Minyak goreng 289.767.214 3.199.703.179 Cooking oil
Terigu 545.000 168.452.310 Wheat
Barang pelengkap/ pembantu Complementary goods
Karung pembungkus 598.284.404 1.132.188.185 Packaging sacks
Total 508.117.971.305 1.363.292.171.334 Total
c. Persediaan barang pelengkap/ pembantu c. Complementary goods inventories
2018 2017
PSO PSO
Karung pembungkus 187.897.327.422 133.187.544.904 Packaging sacks
Obat-obatan - 3.979.314 Medicines
Karung pembungkus 22.285.324.356 16.430.665.333 Packaging sack
Bahan kimia 10.894.328.961 7.470.482.484 Chemicals
Obat-obatan (PQC) 3.502.792.188 4.018.385.143 Medicines (PQC)
Penggilingan (pihak ketiga) Milling (third parties)

Karung pembungkus 5.124.679.459 15.835.863.389 Packaging sacks
Total 229.704.452.386 176.946.920.567 Total
42
10. PERSEDIAAN (lanjutan) 10. INVENTORIES (continued)
d. Persediaan barang dagangan dalam proses d. Work in process
2018 2017
PSO PSO
Beras 353.678.400 23.127.722.637 Rice
Gabah 192.790.716 208.967.390 Grain
Sub total 546.469.116 23.336.690.027 Sub total
Gula pasir 2.739.074.340 - Sugar
Total 3.285.543.456 23.336.690.027 Total
2018
Saldo awal - Beginning balance

Penambahan (Catatan 29) 18.648.844.786 Provision (Note 29)
Saldo akhir 18.648.844.786 Ending balance
Berdasarkan penelaahan terhadap kondisi persediaan di Based on the review of the condition of the inventories at
akhir tahun, manajemen berkeyakinan bahwa persediaan their end of the year, management believes that the
dapat direalisasi pada nilai tercatatnya. inventories can be realized at their net carrying values.
Pada tanggal 31 Desember 2018 dan 2017, persediaan tidak As of December 31, 2018 and 2017, inventories are not
diasuransikan. covered by insurance.
Berdasarkan instruksi Presiden RI Nomor 5 Tahun 2015 Based on instructions from President No. 5 year 2015 dated
tanggal 17 Maret 2015 bahwa Harga Pembelian Pemerintah March 17, 2015 the government purchase price (HPP) for
(HPP) untuk Gabah Kering Giling (GKG) senilai Rp4.650/Kg Dry Grain Milled (GKG) amounted to Rp4,650/kg and Rice
dan Beras senilai Rp7.300/Kg. amounted to Rp7,300/kg.
Selanjutnya terdapat fleksibilitas Harga Pembelian Furthermore, there is flexibility in the Government Purchase
Pemerintah (HPP) untuk Gabah Kering Giling (GKG) dan Price (HPP) for Dry Grain (GKG) and Rice issued under the
Beras yang dikeluarkan berdasarkan surat Menteri Badan letter of the Minister of State-Owned Enterprises of the
Usaha Milik Negara Republik Indonesia dengan tetap Republic of Indonesia with reference to the instructions from
mengacu kepada instruksi Presiden RI Nomor 5 Tahun 2015 President of the Republic of Indonesia No. 5 Year 2015
tanggal 17 Maret 2015. dated March 17, 2015.
Persediaan Perum BULOG dan Entitas Anak tertentu The inventories of Perum BULOG and Subsidiaries are
digunakan sebagai jaminan atas fasilitas pinjaman yang pledged as collateral to the loan facilities obtained from
diperoleh dari kreditur (Catatan 17 dan 23). creditors (Notes 17 and 23).
43
11. ASET LANCAR LAINNYA 11. OTHER CURRENT ASSETS
Aset lancar lainnya tediri dari: Other current assets consist of:
2018 2017
Pemerintah Government
Golongan anggaran pusat 116.436.090.600 - Central budget group
Kompensasi stablisasi gula 111.462.453.577 53.166.220.403 Sugar stablization compensation
Bansos rastra 1.646.900.000 - Bansos rastra
Kompensasi pengadaan gabah Purchase of grain and rice
dan beras - 347.757.039.493 Compensation
Lainnya 284.852.611 1.037.032.055 Others
Total 229.830.296.788 401.960.291.951 Total
Selisih Penyaluran Bansos Rastra merupakan tagihan Difference in Bansos Rastra Distribution represents claim
kepada Kementrian Sosial atas penjualan/distribusi beras from the social ministry for the sale/distribution of rice to
kepada penerima manfaat di Divre-divre. the beneficiaries in regional distribution.
Saldo di atas merupakan piutang dari Pemerintah yang The above amounts represents receivables from
belum diverifikasi oleh pihak yang berwenang Perum Government that have not yet been verified by the relevant
BULOG yang akan direklasifikasi ke piutang usaha setelah authorities of Perum BULOG which will be reclassified to
proses verifikasi telah selesai (Catatan 6). trade receivables after the verification process have
already been completed (Note 6).
12. ASET TETAP 12. FIXED ASSETS

Rincian akun ini adalah sebagai berikut : The details of this account are as follows:
2018
Saldo awal/ Penambahan/ Pengurangan/ Reklasifikasi Saldo akhir/

Beginning balance Additions Disposals Reclassification Ending balance
Biaya perolehan Acquisition cost

Perum Bulog Perum Bulog
Tanah 1.739.848.667.244 48.225.073.900 79.218.000 29.872.019.250 1.817.866.542.394 Land
Bangunan 1.582.539.787.839 243.603.369.307 396.519.205 46.009.514.982 1.871.756.152.923 Buildings
Mesin-mesin 385.276.979.208 17.838.257.407 6.339.752.376 456.736.350 397.232.220.589 Machineries
Inventaris 198.485.147.498 30.161.170.276 12.916.766.931 (456.736.350 ) 215.272.814.493 Equipment
Kendaraan 37.182.738.397 389.511.000 6.839.897.147 - 30.732.352.250 Vehicles
Entitas Anak Subsidiaries
Tanah 110.108.660.000 - 3.949.426.609 114.058.086.609 Land
Bangunan 120.985.953.875 8.093.534.595 - (3.949.426.609 ) 125.130.061.861 Buildings
Mesin-mesin 955.913.800.222 6.734.025.090 - 874.741.950 963.522.567.262 Machineries
Inventaris 28.592.693.717 2.632.695.684 - - 31.225.389.401 Equipment
Kendaraan 84.985.691.349 16.307.368.502 - - 101.293.059.851 Vehicles
5.243.920.119.349 373.985.005.761 26.572.153.659 76.756.276.182 5.668.089.247.633
Aset dalam penyelesaian Construction in progress

Entitas Anak Subsidiary
Mesin 874.741.950 - - (874.741.950 ) - Mechineries
Total 5.424.932.327.004 447.346.516.952 26.572.153.659 (7.837.425.851 ) 5.837.869.264.446 Total

Akumulasi penyusutan Accumulated depreciation
Bangunan 1.252.184.042.388 43.511.855.972 270.232.167 - 1.295.425.666.193 Buildings
Mesin-mesin 352.394.276.313 6.704.599.457 6.339.752.333 - 352.759.123.437 Machineries
Inventaris 155.430.922.181 20.072.438.206 11.938.039.380 - 163.565.321.007 Equipment
Kendaraan 25.784.655.655 2.149.288.012 5.255.495.059 22.678.448.608 Vehicles
Bangunan 42.164.391.868 12.935.839.549 - (270.114.482 ) 54.830.116.935 Buildings
Mesin-mesin 203.909.153.572 54.625.957.599 - - 258.535.111.171 Machineries
Total 2.068.782.298.254 156.993.622.727 23.803.518.939 (270.114.482 ) 2.201.702.287.560 Total
Nilai Buku 3.356.150.028.750 3.636.166.976.886 Net Book Value
44
12. ASET TETAP (lanjutan) 12. FIXED ASSETS (continued)
2017


Tanah 1.742.555.136.244 21.000.000 2.206.932.000 (520.537.000 ) 1.739.848.667.244 Land
Bangunan 1.505.239.177.022 80.139.029.063 4.896.385.866 2.057.967.620 1.582.539.787.839 Buildings
Mesin-mesin 368.383.986.398 16.707.673.393 - 185.319.417 385.276.979.208 Machineries
Inventaris 168.705.913.381 31.084.784.028 726.285.645 (579.264.266 ) 198.485.147.498 Equipment
Kendaraan 30.228.282.471 9.348.054.834 2.787.543.756 393.944.848 37.182.738.397 Vehicles
Tanah 110.085.960.000 22.700.000 - - 110.108.660.000 Land
Bangunan 113.930.335.742 7.055.618.133 - - 120.985.953.875 Buildings
Mesin-mesin 953.206.809.547 3.803.030.675 1.096.040.000 - 955.913.800.222 Machineries
5.093.711.790.156 160.384.085.841 11.713.187.267 1.537.430.619 5.243.920.119.349
Aset dalam penyelesaian Construction in progress

Entitas Anak Subsidiary
Mesin 874.741.950 - - - 874.741.950 Machineries
Total 5.169.832.229.597 268.292.683.055 11.713.187.267 (1.479.398.381 ) 5.424.932.327.004 Total

Bangunan 1.217.948.442.509 35.202.199.145 1.380.645.800 414.046.534 1.252.184.042.388 Buildings
Mesin-mesin 347.078.553.309 5.315.384.984 - 338.020 352.394.276.313 Machineries
Inventaris 145.901.475.439 10.345.299.720 690.739.541 (125.113.437 ) 155.430.922.181 Equipment
Kendaraan 21.102.334.457 7.636.811.824 3.079.266.043 124.775.417 25.784.655.655 Vehicles
Mesin-mesin 150.390.394.022 53.998.277.049 479.517.499 - 203.909.153.572 Machineries
Total 1.940.142.523.452 133.855.897.151 5.630.168.883 414.046.534 2.068.782.298.254 Total
Nilai Buku 3.229.689.706.145 3.356.150.028.750 Net Book Value
Beban penyusutan untuk tahun yang berakhir pada tanggal Depreciation for the years ended December 31, 2018 and
31 Desember 2018 dan 2017 adalah : 2017 as follows:
2018 2017
Beban pokok penjualan (Catatan 28) 63.899.142.313 26.807.918.255 Cost of goods sold (Note 28)
Beban usaha (Catatan 29) 93.094.480.414 107.047.978.896 Operating expenses (Note 29)
Total 156.993.622.727 133.855.897.151 Total
Tanah, bangunan, mesin, dan kendaraan Entitas Anak Land, buildings, machineries of Subsidiaries are pledged as
tertentu digunakan sebagai jaminan atas fasilitas pinjaman collateral to the loan facilities obtained from creditors (Notes
yang diperoleh dari kreditur (Catatan 17 dan 23). 17 and 23).
45
12. ASET TETAP (lanjutan) 12. FIXED ASSETS (continued)

Aset tetap dan properti investasi Perum BULOG dan entitas Fixed assets of Perum BULOG and its Subsidiary are
anak diasuransikan terhadap risiko kerugian, kecelakaan, insured against losses, accidents, fire and other risks with
kebakaran dan risiko lainnya dengan nilai pertanggungan sum insured amounting to Rp 5,667,368,941,537 and
sebesar Rp 5.667.368.941.537 dan Rp 5,051,434,318,139 in 2018 and 2017, respectively.
Rp 5.051.434.318.139 pada tahun 2018 dan 2017. Based on the evaluation of the management, there are no
Berdasarkan penelaahan manajemen, tidak terdapat events or condition changes which indicate the significant
indikasi penurunan nilai atas aset tetap tersebut di atas. decrease of the mentioned above of fixed assets.
Hak kepemilikan Perum BULOG dan Entitas anak atas hak The Perum BULOG and its subsidiaries’ titles of ownership
tanah seluruhnya berupa Hak Guna Bangunan (HGB). Hak on its landrights are all in the form of “Building Use Rights”
atas tanah ini memiliki sisa jangka waktu antara 20 sampai or “Hak Guna Bangunan” (HGB). These landrights have
30 tahun yang akan berakhir pada berbagai tanggal mulai remaining terms ranging from 20 to 30 years that will expire
tahun 2025 sampai 2046. Manajemen berkeyakinan bahwa in various dates from year 2025 to 2046. Management
hak atas tanah dapat diperpanjang atau diperpanjang pada believes that the terms of these landrights can be renewed
saat berakhirnya hak tersebut. or extended upon their expiration
Aset dalam penyelesaian pada 31 Desember 2018 yang As of December 31, 2018, construction in progress which
sebagian besar terdiri dari bangunan yang diharapkan akan comprised of buildings is expected to be completed in 2019
selesai pada tahun 2019 dengan persentase penyelesaian with current percentage of completion between 5% - 95%.
hingga saat ini adalah antara 5% - 95%.
Rincian laba penjualan aset tetap adalah sebagai berikut : The details of gain on sale of fixed assets are as follows :
2018 2017
Hasil penjualan aset tetap 5.295.350.443 23.658.681.714 Proceed from sale of fixed assets
Nilai buku 2.768.634.719 6.083.018.384 Net book value
Laba penjualan aset tetap (Catatan 30) 2.526.715.724 17.575.663.330 Gain on sale of fixed assets (Note 30)
13. PROPERTI INVESTASI 13. INVESTMENT PROPERTIES

Properti investasi terdiri dari: Investment properties consist of:
2018


Divre-divre dan kantor
pusat Regional office and head office
Tanah 212.995.096.920 - 278.050.000 7.912.534.250 220.629.581.170 Land
Bangunan 108.475.335.619 6.433.766.830 - (75.108.399 ) 114.833.994.050 Buildings
Total 321.470.432.539 6.433.766.830 278.050.000 7.837.425.851 335.463.575.220 Total

2017


Divre-divre dan kantor
pusat Regional office and head office
Tanah 213.038.134.920 - - (43.038.000) 212.995.096.920 Land
Bangunan 110.005.728.239 - - (1.530.392.620) 108.475.335.619 Buildings
Total 323.043.863.159 - - (1.573.430.620) 321.470.432.539 Total

Bangunan 99.478.252.220 1.097.893.217 - (414.046.533) 100.162.098.904 Buildings
46
13. PROPERTI INVESTASI (lanjutan) 13. INVESTMENT PROPERTIES (continued)
Beban penyusutan untuk tahun yang berakhir pada tanggal Depreciation for the years ended December 31, 2018 and
31 Desember 2018 dan 2017 adalah masing-masing 2017, amounted to Rp 1,040,700,077 and
sebesar Rp 1.040.700.077 dan Rp 1.097.893.217. (Catatan Rp 1,097,893,217, (respectively) (Note 29).
29).
Pendapatan sewa dari properti investasi yang diakui dalam Rental income from investment properties recognized in the
laporan laba rugi dan penghasilan komprehensif lain pada consolidated statement of profit or loss and other
tahun 2018 dan 2017, masing-masing sebesar comprehensive income in 2018 and 2017 amounted to
Rp 49.686.361.712 dan Rp 44.203.082.228. (Catatan 27). Rp 49,686,361,712 and Rp 44,203,082,228, respectively.
(Note 27)
Berdasarkan penelaahan manajemen, tidak terdapat Based on the evaluation of the management, there are no
indikasi penurunan nilai atas properti investasi tersebut di events or condition changes which indicate the significant
atas. decrease of the mentioned above of investment properties.
Rincian laba penjualan properti investasi adalah sebagai The details of gain on sale of investment property are as
berikut : follows :
2018
Hasil penjualan properti investasi 4.540.640.523 Proceed from sale of investment propertiy
Nilai buku 278.050.000 Net book value
Laba penjualan properti investasi (Catatan 30) 4.262.590.523 Gain on sale of investment property (Note 30)
14. ASET TAKBERWUJUD 14. INTANGIBLE ASSETS

2018
Saldo awal/ Penambahan/ Pengurangan/ Saldo akhir/

Beginning balance Additions Disposals Ending balance

Perangkat lunak 3.016.829.000 - - 3.016.829.000 Software
Perangkat lunak 1.452.700.390 1.530.254.572 - 2.982.954.962 Software
Total 4.469.529.390 1.530.254.572 - 5.999.783.962 Total
Akumulasi amortisasi Accumulated depreciation

Perangkat lunak 377.103.625 754.207.250 - 1.131.310.875 Software
Perangkat lunak 88.580.943 233.179.719 - 321.760.662 Software
Total 465.684.568 987.386.969 - 1.453.071.537 Total
2017
Saldo awal/ Penambahan/ Pengurangan/ Saldo akhir/

Beginning balance Additions Disposals Ending balance

Perangkat lunak - 3.016.829.000 - 3.016.829.000 Software
Perangkat lunak - 1.452.700.390 - 1.452.700.390 Software
Total - 4.469.529.390 - 4.469.529.390 Total
Akumulasi amortisasi Accumulated depreciation

Perangkat lunak - 377.103.625 - 377.103.625 Software
Perangkat lunak - 88.580.943 - 88.580.943 Software
Total 465.684.568 - 465.684.568 Total
Nilai buku - 4.003.844.822 Net book value
Manajemen berkeyakinan bahwa tidak terdapat penurunan Management believes that there is no impairment in value of
atas nilai tercatat aset takberwujud pada tanggal the intangible assets as of December 31, 2018 and 2017.
31 Desember 2018 dan 2017. Amortisasi sebesar Amortization charged to operating expenses, amounted to
Rp 987.386.969 dan Rp 465.684.568 pada tahun 2018 dan Rp 987,386,969 and Rp 465,684,568 in 2018 and 2017,
2017 dibebankan pada beban usaha (Catatan 29). respectively (Note 29).
47
15. ASET LAIN-LAIN 15. OTHER ASSETS

Rincian aset lain-lain adalah sebagai berikut: The details of other assets are as follows:
2018 2017
Bank hasil penjualan 981.740.352.016 158.023.866.143 Sale proceeds in banks

Deposito yang dijaminkan 522.174.239.470 312.538.316.995 Restricted time deposits
Uang tunai yang dijaminkan - 722.388.184 Restricted cash
Aset lainnya 4.087.416.283 3.384.490.108 Other assets
Total 1.508.002.007.769 474.669.061.430 Total
a. Bank hasil penjualan terdiri dari: a. Sale proceeds in banks consist of:
2018 2017
PT Bank Rakyat Indonesia PT Bank Rakyat Indonersia

PT Bank Mega Tbk 518.057.853 - PT Bank Mega Tbk
PT Bank Mandiri (Persero) Tbk 4.213.274.693 4.717.627.193 PT Bank Mandiri (Persero) Tbk
Bank lainnya 5.313.866.243 5.480.159.710 Other banks
Total 981.740.352.016 158.023.866.143 Total
Bank hasil penjualan adalah akun bank yang dimiliki Sale proceeds in banks are banks accounts of the
oleh divre-divre dan kantor pusat yang digunakan untuk regional office and head office use to receive proceeds
penerimaan dari penjualan, yang penggunaanya from sale which are restricted for payment of bank loans
dibatasi untuk pembayaran utang bank (Catatan 17). (Note 17).
b. Deposito yang dijaminkan terdiri dari: b. Restricted time deposits consist of:
2018 2017
Rupiah Rupiah
(Persero) Tbk - 13.160.000 (Persero) Tbk
(Persero) Tbk - 3.359.904.000 (Persero) Tbk
Total 522.174.239.470 312.538.316.995 Total
Deposito yang dijaminkan merupakan deposito yang Restricted time deposits represent deposit which are
dibatasi untuk pembayaran pinjaman bank. restricted for payment of bank loans.
Suku bunga per tahun deposito berjangka yang berlaku The annual interest rates of the time deposits during the
selama periode berjalan adalah: year are as follows:
2018 2017
Deposito Rupiah 6,75% - 7,75% 6,25% - 7,75% Rupiah deposit

Deposito Dolar Amerika Serikat 1,25% - 2,00% 0,75% US Dollar deposit
16. INVESTASI PADA ENTITAS ASOSIASI 16. INVESTMENT IN ASSOCIATE
2018 2017
Pada awal tahun 30.052.956.227 30.000.000.000 At the beginning of the year
Bagian keuntungan (Catatan 30) 497.801.569 52.956.227 Share in profit (Note 30)
Pada akhir tahun 30.550.757.796 30.052.956.227 At the end of the year
48
16. INVESTASI PADA ENTITAS ASOSIASI (lanjutan) 16. INVESTMENT IN ASSOCIATE (continued)
Berdasarkan akta perubahan terakhir No. 19 tanggal By notary on the latest amendment No. 19 dated August 2,
2 Agustus 2017 oleh notaris Otty Hari Chandra Ubayani, 2017 by notary Otty Hari Chandra Ubayani. S.H, Perum
S.H., penyertaan saham PT Mitra Bumdes Nusantara Bulog investment in PT Mitra Bumdes Nusantara amounted
adalah sebesar 30% atau sebesar to Rp 30,000,000,000 with represents 30%, ownership.
Rp 30.000.000.000.
Pada 2018 dan 2017, Perum BULOG mengakui bagian dari In 2018 and 2017, Perum BULOG recognized share in profit
pendapatan komprehensif lainnya entitas asosiasi sebesar of associate amounted to Rp 497,801,569 and
Rp 497.801.569 dan Rp 52.956.227. Rp 52,956,227, respectively .
Ringkasan informasi keuangan PT Mitra Bumdes Nusantara Summary of financial information of PT Mitra Bumdes
adalah sebagai berikut: Nusantara, are as follows:
2018 2017
Aset lancar 103.166.977.494 100.220.561.798 Current assets
Aset tidak lancar 2.079.221.767 - Non-Current assets
Total Aset 105.246.199.261 100.220.561.798 Total Assets
Liabilitas jangka pendek 1.512.160.391 44.041.041 Current liabilities

Liabilitas jangka panjang 1.898.179.552 - Non-Current liabilties
Total Ekuitas 101.835.859.318 100.176.520.757 Total Equity
Total Liabilitas dan Ekuitas 105.246.199.261 100.220.561.798 Total Liabilities and Equity
Pendapatan 127.506.889.496 - Revenues

Harga pokok pendapatan (122.417.435.095 ) - Cost of revenues
Beban usaha (8.929.157.335 ) (972.219.750 ) Operating expenses
Pendapatan lain-lain - neto 5.499.041.495 1.148.740.507 Other income - net
Total komprehensif untuk Total comprehensive
tahun berjalan 1.659.338.561 176.520.757 for the year
Rekonsiliasi dari ringkasan informasi keuangan diatas Reconciliation of the above summarized financial information to
terhadap jumlah tercatat dari bagian entitas asosiasi yang the carrying amount of the interest in the associat recognized in
diakui dalam laporan keuangan konsolidasian: the consolidated financial statements, as follows:
2018 2017
Aset neto entitas asosiasi 101.835.859.318 100.176.520.757 Net assets of the associate
Proporsi bagian kepemilikan Perum
BULOG 30% 30% Proportion of Perum BULOG
Nilai tercatat neto 30.550.757.796 30.052.956.227 Net carrying amount
Pada tanggal 31 Desember 2018 dan 2017, entitas asosiasi As of December 31, 2018 and 2017, the details of Perum
yang dimiliki oleh Perum BULOG sebagai berikut: BULOG’s associate are as follows:
Persentase
Lokasi Bisnis/
kepemilikan/
Place of
Nama entitas/ % of
business
Name of entity ownership Jenis Usaha/Nature of Business
PT Mitra Bumdes Indonesia 30 Meningkatkan perekonomian desa, perdagangan besar
Nusantara (MBN) bahan makanan dan minuman hasil pertanian/ trading of
food and beverages
Perum BULOG tidak mengendalikan entitas asosiasi Perum BULOG does not excercise control on this associate.
tersebut.
49
17. UTANG BANK JANGKA PENDEK 17. SHORT-TERM BANK LOANS
Rincian utang bank jangka pendek adalah sebagai berikut: The details of short-term bank loans are as follows:
2018 2017
PT Bank Rakyat Indonesia (Persero) Tbk 16.700.329.272.299 9.376.396.512.747 PT Bank Rakyat Indonesia (Persero) Tbk
PT Bank Negara Indonesia (Persero) Tbk 12.599.312.993.768 3.815.351.365.253 PT Bank Negara Indonesia (Persero) Tbk
Total 29.306.598.030.548 13.238.833.649.479 Total
a. PSO: a. PSO:
2018 2017

(Persero) Tbk 75.171.015.806 6.588.773.107.461 (Persero) Tbk
PT Bank Bukopin Tbk - 45.908.688.530 PT Bank Bukopin Tbk
Total 75.171.015.806 6.634.681.795.991 Total
b. Komersial: b. Commercial:
2018 2017

Total 29.231.427.014.742 6.604.151.853.488 Total
PT Bank Rakyat Indonesia (Persero) Tbk PT Bank Rakyat Indonesia (Persero) Tbk
Perum BULOG Perum BULOG
Kredit Modal Kerja Public Service Obligation (PSO) TA Working Capital Loan for Public Service Obligation FY
2018 dan 2017 2018 and 2017
Berdasarkan akta perubahan terakhir No. 1 tanggal Based on the latest amendment No. 1 dated January 10,
10 Januari 2017 oleh Notaris Dewantari Handayani, SH., 2017 by Notary Dewantari Handayani SH., MPA., Perum
MPA, Perum BULOG memperoleh fasilitas Kredit Modal BULOG obtained Working Capital Loan facility for Public
Kerja PSO Tahun Anggaran 2017 dari PT Bank Rakyat Service Obligation for Fiscal Year 2017 from PT Bank Rakyat
Indonesia (Persero) Tbk. Indonesia (Persero) Tbk.
Berdasarkan akta No. 5 tanggal 23 Januari 2018 tentang Based on Notarial Deed No. 5 dated January 23, 2018
addendum perjanjian kredit modal kerja dari notaris yang regarding the addendum to the working capital loan
sama, fasilitas pinjaman ini telah diperpanjang untuk Tahun agreement by the same notary, this loan facility has been
Anggaran 2018 dan plafon pinjaman diturunkan semula extended for Fiscal Year 2018 and the credit limit has been
sebesar Rp 13.000.000.000.000 menjadi decreased from Rp 13,000,000,000,000 to
Rp 9.800.000.000.000 dan fasilitas penangguhan jaminan Rp 9,800,000,000,000 and import guarantee facility
impor sebesar Rp 3.000.000.000.000. Perjanjian ini amounted to Rp 3,000,000,000,000. This loan bears Interest
dikenakan tingkat suku bunga 9,50% per tahun. Perjanjian at 9.50% per annum.This agreement ends on December 31,
kredit ini jatuh tempo pada tanggal 31 Desember 2018. 2018. Until the issuance of these consolidated financial
Sampai dengan tanggal penerbitan laporan keuangan ini, statements, the amendment of the agreement is still in
perpanjangan perjanjian masih dalam proses. process.
Agunan atas perjanjian tersebut adalah fidusia atas The collateral for this facility is fiduciary on related financed
persediaan gabah/beras Public Service Obligation (PSO) Public Service Obligation (PSO) grain/rice inventory.
yang dibiayai.
50
17. UTANG BANK JANGKA PENDEK (lanjutan) 17. SHORT-TERM BANK LOANS (continued)
PT Bank Rakyat Indonesia (Persero) Tbk (lanjutan) PT Bank Rakyat Indonesia (Persero) Tbk (continued)
Perum BULOG (lanjutan) Perum BULOG (continued)
Kredit Modal Kerja Pengadaan Beras Komersial TA 2018 Working Capital Loan for Commercial Rice Procurement
dan 2017 FY 2018 and 2017
Berdasarkan perjanjian kredit modal kerja No. 4 oleh notaris Based on the agreement No. 4 by Notary Dewantari
Dewantari Handayani, SH., MPA pada tanggal 6 Pebruari Handayani SH., MPA dated February 6, 2017, Perum
2017, Perum BULOG memperoleh fasilitas Kredit Modal BULOG obtained Working Capital Loan facility for
Kerja Pengadaan Beras Komersial Tahun Anggaran 2017 Commercial Rice Procurement for Fiscal Year 2017 from
dari PT Bank Rakyat Indonesia (Persero) Tbk. PT Bank Rakyat Indonesia (Persero) Tbk.
Berdasarkan akta perubahan terakhir No. 1 tanggal Based on Notarial Deed No. 1 dated January 4, 2018 by the
4 Januari 2018 oleh notaris yang sama, fasilitas pinjaman same notary, this loan facility has been extended for Fiscal
ini telah diperpanjang untuk Tahun Anggaran 2018 dan Year 2018 and the credit limit has been decreased from
plafon pinjaman diturunkan semula sebesar Rp Rp 1,500,000,000,000 to Rp 500,000,000,000. This loan
1.500.000.000.000 menjadi Rp 500.000.000.000. Perjanjian bears Interest at 8.65% per annum. This loan matures on
ini dikenakan tingkat suku bunga 8,65% per tahun. December 31, 2018. Until the issuance of these consolidated
Perjanjian ini jatuh tempo pada tanggal 31 Desember 2018. financial statements, the amendment of the agreement is still
Sampai dengan tanggal penerbitan laporan keuangan in process.
konsolidasian ini, perpanjangan perjanjian masih dalam
proses.
The collateral for this facility is fiduciary on related financed
Agunan atas perjanjian tersebut adalah deposito atas commercial rice inventory.
persediaan beras komersial yang dibiayai.
Kredit Modal Kerja Gula Komersial TA 2018 dan 2017 Working Capital Loan for Commercial Sugar for FY
2018 and 2017
Berdasarkan akta perubahan terakhir No. 4 pada tanggal Based on the latest amendment No. 4 dated January 10,
10 Januari 2017 oleh notaris Dewantari Handayani, SH., 2017 by Notary Dewantari Handayani SH., MPA., Perum
MPA Perum BULOG memperoleh fasilitas Kredit Modal BULOG obtained facility for Commercial Sugar Domestic for
Kerja Gula DN Komersial Tahun Anggaran 2017 yang Fiscal Year 2017 from PT Bank Rakyat Indonesia (Persero)
diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk. Tbk.
Berdasarkan akta perubahan No. 39 tanggal 17 April 2018 Based on Notarial Deed No. 39 dated April 17, 2018 by the
oleh notaris yang sama, fasilitas pinjaman Kredit Modal same notary, loan facility for Commercial Sugar for Fiscal
Kerja Gula Komersial untuk Tahun Anggaran 2018 dan Year 2018 has credit limit of Rp 4,840,000,000,000. And for
plafon pinjaman menjadi sebesar Rp 4.840.000.000.000. Preshipment Import Financing for Commercial Sugar has
Dan plafon fasilitas Penangguhan Jaminan Impor Gula been increased from Rp 2,178,000,000,000 to
Komersial dinaikkan semula Rp 2.178.000.000.000 Rp 2,425,000,000,000. This loan bears Interest at 9.00% per
menjadi Rp 2.425.500.000.000. Perjanjian ini dikenai bunga annum and matures on December 31, 2018. Until the
9,00% per tahun dan jatuh tempo pada tanggal issuance of these consolidated financial statements, the
31 Desember 2018. Sampai dengan tanggal penerbitan amendment of the agreement is still in process.
laporan keuangan konsolidasian ini, perpanjangan
perjanjian masih dalam proses.
Agunan atas perjanjian tersebut adalah fidusia atas The collateral for these facility is fiduciary on related financed
persediaan gula komersial yang dibiayai. related commercial sugar inventory.
51
Kredit Modal Kerja Jagung Komersial TA 2018 dan 2017 Working Capital Loan for Commercial Corn for FY 2018
and 2017
Berdasarkan akta perubahan terakhir No. 5 pada tanggal Based on the latest amendment No. 5 dated January 10,
10 Januari 2017 oleh Notaris Dewantari Handayani, SH., 2017 by Notary Dewantari Handayani SH., MPA., Perum
MPA., Perum BULOG memperoleh fasilitas Kredit Modal BULOG obtained facility for Commercial Corn for Fiscal Year
Kerja jagung Komersial Tahun Anggaran 2017 yang 2017 from PT Bank Rakyat Indonesia (Persero) Tbk.
diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk.
Berdasarkan akta perubahan No. 40 tanggal 17 April 2018 Based on Notarial Deed No. 40 dated April 17, 2018 by the
oleh notaris yang sama, fasilitas pinjaman Kredit Modal same notary, the loan facility for Commercial Sugar for Fiscal
Kerja Jagung Komersial diperpanjang untuk Tahun Year 2018 has been decreased from Rp 2,400,000,000,000
Anggaran 2018 diturunkan semula Rp 2.400.000.000.000 to Rp 630,000,000,000. And credit limit for Preshipment
menjadi Rp 630.000.000.000. Dan plafon fasilitas Import Financing for Commercial Corn have been
Penangguhan Jaminan Impor Jagung Komersial diturunkan decreased from Rp 2,116,800,000,000 to
semula Rp 2.116.800.000.000 menjadi Rp 555,660,000,000. This loan bears Interest at 9.00% per
Rp 555.660.000.000. Perjanjian ini dikenai bunga 9,00% per annum and matures on December 31, 2018. Until the
tahun dan jatuh tempo pada tanggal 31 Desember 2018. issuance of these consolidated financial statements, the
Sampai dengan tanggal penerbitan laporan keuangan amendment of the agreement is still in process.
konsolidasian ini, perpanjangan perjanjian masih dalam
proses.
The collateral for these facility is fiduciary on related financed
Agunan atas perjanjian tersebut adalah fidusia atas related commercial corn inventory.
persediaan jagung komersial yang dibiayai.
Kredit Modal Kerja Impor/Penangguhan Jaminan Import Working Capital Loan/Preshipment Import
Impor Kedelai Impor TA 2018 dan 2017 Financing for Soybean Import for FY 2018 and 2017
Berdasarkan akta perubahan terakhir No. 6 tanggal Based on the latest amendment No. 6 dated January 10,
10 Januari 2017 oleh Notaris Dewantari Handayani, SH., 2017 by Notary Dewantari Handayani, SH., MPA, this loan
MPA, fasilitas pinjaman ini telah diperpanjang untuk Tahun facility has been extended for Fiscal Year 2017 and the credit
Anggaran 2017 dan plafon pinjaman dinaikkan semula limit has been increased from Rp 144,000,000,000 and
sebesar Rp Rp 144.000.000.000 dan Rp 129.600.000.000 Rp 129,600,000,000 to Rp 650,000,000,000 and
menjadi Rp 650.000.000.000 dan Rp 585.000.000.000. Rp 585,000,000,000. This loan bears interest at 9.50% per
Perjanjian ini dikenakan bunga 9,50% per tahun dan jatuh annum and matures on December 31, 2018. Until issuance
tempo pada tanggal 31 Desember 2018. Sampai dengan of the financial statements, the amendment of the
tanggal penerbitan laporan keuangan ini, perpanjangan agreement is still in process.
Berdasarkan perjanjian kredit modal kerja No. 16 oleh Based on the agreement No. 16 by Notary Dewantari
notaris Dewantari Handayani, SH., MPA pada tanggal Handayani SH., MPA dated March 7, 2018, Perum BULOG
7 Maret 2018, Perum BULOG memperoleh fasilitas Kredit obtained Working Capital Loan/Preshipment Import
Modal Kerja Impor/Penangguhan Jaminan Impor Kedelai Financing facility for Soybean Import for Fiscal Year 2018
Tahun Anggaran 2018 dari PT Bank Rakyat Indonesia from PT Bank Rakyat Indonesia (Persero) Tbk. The credit
(Persero) Tbk. Plafon pinjaman sebesar Rp 15.000.000.000 limit amounted to Rp 15,000,000,000.
Berdasarkan akta perubahan terakhir No. 41 tanggal Based on the latest amendment No. 41 dated March 7, 2018
7 Maret 2018 oleh notaris yang sama. Dan terdapat by the same notary. There is credit limit for Preshipment
penambahan atas plafon fasilitas Penangguhan Jaminan Import Financing for Commercial Soybean amounted to
Impor Kedelai Komersial sebesar Rp 10.710.000.000. Rp 10,710,000,000. This loan matures on December 31,
Perjanjian ini jatuh tempo pada tanggal 31 Desember 2018. 2018. Until the issuance of these consolidated financial
Sampai dengan tanggal penerbitan laporan keuangan statements, the amendment of the agreement is still in
konsolidasian ini, perpanjangan perjanjian masih dalam process.
proses.
Agunan atas perjanjian tersebut adalah deposito atas The collateral for these facilities is deposit on related
persediaan kedelai impor komersial yang dibiayai. financed import commercial soybeen inventory.
52
Kredit Modal Kerja Minyak Goreng Komersial TA 2018 Working Capital Loan for Commercial Cooking Oil for
dan 2017 FY 2018 and 2017
notaris Dewantari Handayani, SH., MPA pada tanggal Handayani SH., MPA dated August 4, 2017, Perum BULOG
4 Agustus 2017, Perum BULOG memperoleh fasilitas Kredit obtained Working Capital Loan for Commercial Cooking Oil
Modal Kerja Minyak Goreng Komersial Tahun Anggaran for Fiscal Year 2017 from PT Bank Rakyat Indonesia
2017 dari PT Bank Rakyat Indonesia (Persero) Tbk. (Persero) Tbk.
Berdasarkan akta perubahan terakhir No. 25 tanggal Based on the latest amendment No. 25 dated March 22,
22 Maret 2018 oleh notaris yang sama, fasilitas pinjaman ini 2018 by the same notary, this loan facility has been extended
telah diperpanjang untuk Tahun Anggaran 2018 dan plafon for Fiscal Year 2018 and the credit limit has been increased
pinjaman dinaikkan semula sebesar from Rp 25,000,000,000 to Rp 100,000,000,000. This loan
Rp 25.000.000.000 menjadi Rp 100.000.000.000. bears interest at 8.65% per annum and matures on
Perjanjian ini dikenakan bunga 8,65% per tahun dan jatuh December 31, 2018. Until the issuance of these consolidated
tempo pada tanggal 31 Desember 2018. Sampai dengan financial statements, the amendment of the agreement is still
tanggal penerbitan laporan keuangan konsolidasian ini, in process.
perpanjangan perjanjian masih dalam proses.
Agunan atas perjanjian tersebut adalah deposito atas The collateral for this facility is deposit on related financed
persediaan minyak goreng komersial yang dibiayai. related commercial cooking oil inventory.
Kredit Modal Kerja Tepung Terigu Komersial TA 2018 Working Capital Loan for Commercial Wheat Flour for
FY 2018
19 Maret 2018, Perum BULOG memperoleh fasilitas Kredit obtained Working Capital Loan for Commercial Wheat Flour
Modal Kerja Tepung Terigu Komersial Tahun Anggaran for Fiscal Year 2018 from PT Bank Rakyat Indonesia
2018 yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk.
(Persero) Tbk.
Berdasarkan akta perubahan terakhir No. 33 tanggal Based on the latest amendment No. 33 dated April 10, 2018
10 April 2018 oleh notaris yang sama, plafon pinjaman by the same notary, the credit limit has been increased from
dinaikkan semula sebesar Rp 3.505.000.000 menjadi Rp 3,505,000,000 to Rp 8,505,000,000. This loan bears
Rp 8.505.000.000. Perjanjian ini dikenakan bunga 8,65% interest at 8.65% per annum and matures on December 31,
per tahun dan jatuh tempo pada tanggal 31 Desember 2018. 2018. Until the issuance of these consolidated financial
Sampai dengan tanggal penerbitan laporan keuangan statements, the amendment of the agreement is still in
konsolidasian ini, perpanjangan perjanjian masih dalam process.
proses.
persediaan tepung terigu komersial yang dibiayai. financed related commercial wheat flour inventory.
Kredit Modal Kerja Bawang Komersial TA 2018 Working Capital Loan for Commercial Onion for FY
2018
1 Maret 2018, Perum BULOG memperoleh fasilitas Kredit obtained Working Capital Loan for Commercial Onion for
Modal Kerja Bawang Komersial Tahun Anggaran 2018 yang Fiscal Year 2018 from PT Bank Rakyat Indonesia (Persero)
diberikan oleh PT Bank Rakyat Indonesia (Persero) Tbk Tbk with credit limit of Rp 50,000,000,000. This loan bears
dengan plafon pinjaman sebesar Rp 50.000.000.000. interest at 8.65% per annum and matures on December 31,
Perjanjian ini dikenakan bunga 8,65% per tahun dan jatuh 2018. Until the issuance of these consolidated financial
tempo pada tanggal 31 Desember 2018. Sampai dengan statements, the amendment of the agreement is still in
tanggal penerbitan laporan keuangan konsolidasian ini, process.
persediaan bawang komersial yang dibiayai. financed related commercial onion inventory.
53
Kredit Modal Kerja Pangan Pokok Lain Komersial TA Working Capital Loan for Commercial Other Staple
2018 Foods for FY 2018
Berdasarkan perjanjian kredit modal kerja No. 45 pada Based on the agreement No. 45 by Notary Dewantari
tanggal 25 Mei 2018 oleh notaris Dewantari Handayani, Handayani SH., MPA dated May 25, 2018, Perum BULOG
SH., MPA Perum BULOG memperoleh fasilitas Kredit Modal obtained Working Capital Loan for Commercial Other Staple
Kerja Pangan Pokok Lain Komersial Tahun Anggaran 2018 Foods for Fiscal Year 2018 from PT Bank Rakyat Indonesia
yang diberikan oleh PT Bank Rakyat Indonesia (Persero) (Persero) Tbk with credit limit amounted to
Tbk dengan plafon pinjaman sebesar Rp 79,200,000,000. This loan bears interest at 8.65% per
Rp 79.200.000.000.000. Perjanjian ini dikenakan bunga annum and matures on December 31, 2018. Until the
8,65% per tahun dan jatuh tempo pada tanggal issuance of these consolidated financial statements, the
31 Desember 2018. Sampai dengan tanggal penerbitan amendment of the agreement is still in process.
laporan keuangan konsolidasian ini, perpanjangan
pangan pokok lain komersial yang dibiayai. financed related commercial other staple foods inventory.
Kredit Modal Kerja Distibusi Komoditi Komersial TA Working Capital Loan for Distribution of Commercial
2018 dan 2017 Commodity for FY 2018 and 2017
Berdasarkan akta perjanjian kredit modal kerja No. 18 pada Based on the agreement No. 18 by Notary Dewantari
tanggal 8 Juni 2017 oleh notaris Dewantari Handayani, SH., Handayani SH., MPA dated June 8, 2017, Perum BULOG
MPA Perum BULOG memperoleh fasilitas Kredit Modal obtained Working Capital Loan for Distribution of
Kerja Distibusi Komoditi Komersial Tahun Anggaran 2017 Commercial Commodity for Fiscal Year 2017 from PT Bank
yang diberikan oleh PT Bank Rakyat Indonesia (Persero) Rakyat Indonesia (Persero) Tbk.
Tbk.
Berdasarkan akta perubahan terakhir No. 18 tanggal Based on the latest amendment No. 18 dated March 13,
13 Maret 2018 oleh notaris yang sama, fasilitas pinjaman 2018 by the same notary, this loan facility has been extended
Kredit Modal Kerja Distibusi Komoditi Komersial for Fiscal Year 2018 and the credit limit has been increased
diperpanjang untuk Tahun Anggaran 2018 dinaikkan from Rp 3,298,000,000 to Rp 38,072,433,993. This loan
semula Rp 3.298.000.000 menjadi Rp 38.072.433.993. bears interest at 8.65% per annum and matures on
Perjanjian ini dikenakan bunga 8,65% per tahun dan jatuh December 31, 2018. Until the issuance of these consolidated
tempo pada tanggal 31 Desember 2018. Sampai dengan financial statements, the amendment of the agreement is
tanggal penerbitan laporan keuangan konsolidasian ini, still in process.
distribusi komoditi komersial yang dibiayai. financed related distribution of commercial commodity.
Pada tanggal 31 Desember 2018 dan 2017, Perum BULOG As of December 31, 2018 and 2017, Perum BULOG the
saldo utang bank pada PT Bank Rakyat Indonesia (Persero) balance of the above bank loans to PT Bank Rakyat
Tbk masing-masing sebesar Rp 16.700.329.272.299 dan Indonesia (Persero) Tbk amounted to
Rp 9.376.396.512.747. Rp 16,700,29,272,299 and Rp 9,376,396,512,747,
respectively.
54
PT Bank Bukopin Tbk PT Bank Bukopin Tbk
Kredit Modal Kerja Pengadaan Gabah dan Beras TA Working Capital Loan for Grain and Rice Procurement
2018 dan 2017 FY 2018 and 2017
Pada tanggal 29 Mei 2017, Perum BULOG mendapatkan On May 29, 2017, Perum BULOG obtained Working Capital
fasilitas Kredit Modal Kerja Dengan Memakai Jaminan untuk Loan facility with Guarantee for Grain and Rice Procurement
Pengadaan Gabah dan Beras Tahun Anggaran 2017. for Fiscal Year 2017. Based on agreement
Berdasarkan perjanjian No. XLVII/072/BUKI/ADD-PK- No. XLVII/072/BUKI/ADD-PK-PRK/V/2017 dated May 29,
PRK/V/2017 tanggal 29 Mei 2017, perjanjian diatas telah 2017, the credit limit of the above facility has been decrease
diamandemen, plafon fasilitas pinjaman diatas telah to Rp 100,000,000,000. This loan bears interest at 1% per
diturunkan menjadi Rp 100.000.000.000. Pinjaman ini annum above Rupiah guaranteed deposits rate in Rupiah.
dikenakan suku bunga 1% pertahun diatas tingkat suku This agreement ends on December 31, 2017.
bunga deposito Rupiah yang dijaminkan. Perjanjian kredit
jatuh tempo pada tanggal 31 Desember 2017.
Berdasarkan perjanjian No. XLVIII/001/BUKI/PK- Based on agreement No. XLVIII/001/BUKI/PK-PRK/I/2018

PRK/I/2018 tanggal 24 Januari 2018, perjanjian kredit jatuh dated January 24, 2018, this agreement ends on
tempo pada tanggal 31 Desember 2018. Sampai dengan December 31, 2018. Until the issuance of these consolidated
tanggal penerbitan laporan keuangan ini, perpanjangan financial statements, the amendment of the agreement is
perjanjian masih dalam proses. still in process.
Agunan atas perjanjian tersebut adalah dana dalam bentuk The collateral for these agreements is fund in the form of
deposito yang ditempatkan di PT Bank Bukopin Tbk atas deposits which is placed in PT Bank Bukopin Tbk under the
nama Perum BULOG sebesar Rp 100.000.000.000. name of Perum BULOG amounting to Rp 100,000,000,000.
Pada tanggal 17 Januari 2017, Perum BULOG On January 17, 2017, Perum BULOG obtained line facility in
mendapatkan fasilitas line Letter of Credit (L/C) dan Surat the form of Letter of Credit (L/C) and Domestic Letter of
Kredit Berdokumen dalam Negeri (SKBDN) berdasarkan Credit (SKBDN) based on Facility Agreement
perjanjian kredit No. XLVII/003/BUKI/PK-PRK/I/2017 jatuh No. XLVII/003/BUKI/PK-PRK/I/2017, with maturity on
tempo pada tanggal 31 Desember 2017. December 31, 2017.
Berdasarkan perjanjian XLVIII/002/BUKI/PK-LC- Based on agreement XLVIII/002/BUKI/PK-LC-

SKBDN/I//2018 tanggal 24 Januari 2018 atas fasilitas diatas SKBDN/I//2018 dated January 24, 2018, the above facility
diperpanjang sampai dengan 31 Desember 2018. Sampai has been extended until December 31, 2018. Until the
dengan tanggal penerbitan laporan keuangan konsolidasian issuance of these consolidated financial statements, the
ini, perpanjangan perjanjian masih dalam proses. amendment of the agreement is still in process.
Agunan atas perjanjian tersebut adalah sama dengan The collateral for these agreements is cross collateral
agunan perjanjian kredit No. XLVII/003/BUKI/PK- with loan agreement No. XLVII/003/BUKI/PK-PRK/I/2017.
PRK/I/2017.
Pada tanggal 31 Desember 2018 dan 2017, saldo utang As of December 31, 2018 and 2017, the balance of the
bank pada PT Bank Bukopin Tbk masing-masing sebesar above bank loans to PT Bank Bukopin Tbk amounted to
Rp 6.955.764.481 dan Rp 47.085.771.479. Rp 6,955,764,481 and Rp 47,085,771,479, respectively.
55
PT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Kredit Modal Kerja Pengadaan Bahan Pangan untuk Working Capital Loan for Foodstuffs Procurement for
Keperluan Public Service Obligation (PSO) dan atau Public Service Obligation and or for Commercial
Keperluan Komersial
Pada tanggal 18 April 2016, Perum BULOG mendapatkan On April 18, 2016, Perum BULOG obtained Working Capital
fasilitas Kredit Modal Kerja Pengadaan Bahan Pangan Loan facility for Food Procurement for Public Service
untuk Keperluan Public Service Obligation (PSO) oleh Obligation (PSO) and/or for Commercial Purposes from
PT Bank Negara Indonesia (Persero) Tbk Berdasarkan PT Bank Negara Indonesia (Persero) Tbk based on
perjanjian kredit No. 015A/BIN/PK/2016. Plafon yang Agreement No. 015A/BIN/PK/2016 with a credit limit
diberikan adalah sebesar Rp 3.000.000.000.000. Tingkat amounted to Rp 3,000,000,000,000. This facility bears
suku bunga 9,50% Perjanjian kredit ini jatuh tempo pada interest at 9.50% and matures on April 17, 2017.
tanggal 17 April 2017.
Berdasarkan Persetujuan Perubahan Perjanjian Kredit Based on the Amendment Credit Aggreement Approval
tanggal 10 Mei 2017, fasilitas ini telah diperpanjang sampai dated May 10, 2017, this facility has been extended until
dengan 17 April 2018. April 17, 2018.
Berdasarkan Persetujuan Perubahan Perjanjian Kredit Based on the Amendment Credit Agreement Approval dated
tanggal 26 April 2018, plafon fasilitas pinjaman dinaikkan April 26, 2018, the credit limit have been increased to
menjadi Rp 10.000.000.000.000. Tingkat suku bunga Rp 10,000,000,000,000. This facility bears interest at 9.00%
9,00%. Fasilitas ini diperpanjang sampai 17 April 2019. and extended until on April 17, 2019.
Berdasarkan Persetujuan Perubahan Perjanjian Kredit Based on the Amendment Credit Agreement Approval dated
tanggal 1 Nopember 2018, plafon fasilitas pinjaman November 1, 2018, the credit limit have been increased to
dinaikkan menjadi Rp 20.000.000.000.000. Tingkat suku Rp 20,000,000,000,000. This facility bears interest at 8.75%.
bunga 8,75%.
Agunan atas perjanjian tersebut adalah fidusia atas This facility is collateralized with fiduciary on the financed
persediaan bahan pangan yang dibiayai. food inventory.
Kredit Modal Kerja Pengadaan dan Biaya Lain-Lain Working Capital Loan for Import of 260,000 Tons of
Impor Gula Kristal Mentah Sebanyak 260.000 Ton Raw Sugar Procurement and Other Expenses
Pada tanggal 17 Oktober 2016, Perum BULOG memperoleh On October 17, 2016, Perum BULOG obtained Working
fasilitas Kredit Modal Kerja Pengadaan dan Biaya Lain-Lain Capital Facility for Import of 260,000 Tons of Raw Crystal
Impor Gula Kristal Mentah Sebanyak 260.000 Ton oleh Sugar Procurement and Other Expenses from PT Bank
PT Bank Negara Indonesia (Persero) Tbk. Berdasarkan Negara Indonesia (Persero) Tbk based on Agreement
perjanjian kredit No. 061/BIN/PK/2016. Plafon yang No. 061/BIN/PK/2016 with a credit limit amounted to
diberikan adalah sebesar Rp1.939.275.000.000. Tingkat Rp 1,939,275,000,000. This facility bears interest at 9.50%
suku bunga 9.5% Perjanjian kredit ini telah jatuh tempo and matures on July 16, 2017.
pada tanggal 16 Juli 2017.
Berdasarkan Persetujuan perubahan perjanjian tanggal Based on the approval of the amendment dated August 9,
9 Agustus 2017, fasilitas ini diperpanjang sampai 16 Juli 2017, this facility has been extended until July 16, 2018 and
2018 dan sudah dibayar di 2018. fully paid in 2018.
Agunan atas perjanjian tersebut adalah fidusia atas The collateral for this facility is fiduciary of foodstuffs
persediaan bahan pangan yang dibiayai. inventory purchased.
Kredit Modal Kerja Pengadaan dan Biaya Lain-Lain Working Capital Loan for Import of 70,000 Tons of Meat
Impor Daging Sebanyak 70.000 Ton Procurement and Other Expenses (continued)
Pada tanggal 18 Oktober 2016, Perum BULOG On October 18, 2016, Perum BULOG obtained Working
mendapatkan fasilitas Kredit Modal Kerja Pengadaan dan Capital Facility for Import of 70,000 Tons of Meat
Biaya Lain-Lain Impor Daging Sebanyak 70.000 Ton Procurement and Other Expenses from PT Bank Negara
berdasarkan perjanjian kredit No. 062/BIN/PK/2016. Plafon Indonesia (Persero) Tbk based on Agreement
yang diberikan oleh PT Bank Negara Indonesia (Persero) No. 062/BIN/PK/2016 with credit limit amounting to
Tbk adalah sebesar Rp 3.631.320.000.000. tingkat suku Rp 3,631,320,000,000. This facility bears interest at 9.50%
bunga 9,5% dan perjanjian kredit ini berakhir pada tanggal and matures on July 16, 2017.
17 Juli 2017.
Based on the Amendment Credit Aggreement Approval
Berdasarkan Persetujuan Perubahan Perjanjian Kredit
dated August 9, 2017, the credit limit have been decreased
tanggal 9 Agustus 2017, plafon fasilitas pinjaman diturunkan
to Rp 1,370,272,340,000 and this facility has been extended
menjadi Rp 1.370.272.340.000 dan fasilitas ini diperpanjang
until July 17, 2018 and fully paid in 2018.
sampai 17 Juli 2018 dan sudah dibayar di 2018.
56
PT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk

Kredit Modal Kerja Pengadaan dan Biaya Lain-Lain Working Capital Loan for Import of 260.000 Tons of
Impor Gula Kristal Mentah Sebanyak 260.000 Ton Raw Sugar Procurement and Other Expenses
(lanjutan) (continued)
Agunan atas perjanjian tersebut adalah fidusia atas The collateral for these agreements is fiduciary of foodstuffs
Kredit Modal Kerja Atas Transaksi Forex Dan/Atau Working Capital Credit For Forex Transaction And/Or
Derivatif Line Derivative Line
Pada tanggal 26 April 2018, Perum BULOG mendapatkan On April 26, 2018, Perum BULOG obtained Working Capital
fasilitas Kredit Modal Kerja atas Transaksi Forex dan/atau Credit For Forex Transaction And/Or Derivative Line from
Derivatif Line oleh PT Bank Negara Indonesia (Persero) Tbk PT Bank Negara Indonesia (Persero) Tbk based on
berdasarkan perjanjian kredit No. 032/BIN/PPFDL/2018. Agreement No. 032/BIN/PPFDL/2018 with a credit limit
Plafon yang diberikan adalah sebesar USD 123.000.000. amounted to USD 123,000,000. This facility matures on
Perjanjian kredit ini jatuh tempo pada tanggal 17 April 2019. April 17, 2019.
Berdasarkan Persetujuan Perubahan Perjanjian Kredit Based on the approval of the amendment dated
tanggal 1 Nopember 2018, plafon fasilitas pinjaman November 1, 2018, the credit limit have been decreased to
diturunkan menjadi USD 50.000.000. USD 50,000,000.
Agunan atas perjanjian tersebut adalah fidusia atas The collateral for this facility is fiduciary of foodstuffs
Pada tanggal 31 Desember 2018 dan 2017, saldo utang bank As of December 31, 2018 and 2017, the balance of the
pada PT Bank Negara Indonesia (Persero) Tbk masing-masing above bank loans to PT Bank Negara Indonesia (Persero) Tbk
sebesar Rp 12.599.312.993.768 dan Rp 3.815.351.365.253. amounted to Rp 12,599,312,993,768 and
Rp 3,815,351,365,253, respectively.
18. UTANG USAHA 18. TRADE PAYABLES

2018 2017
Pihak ketiga Third parties

Penyaluran 571.486.689.370 2.377.729.270.591 Distribution
Pengadaan 113.753.490.990 24.436.833.189 Procurement
Lainnya 1.001.280.463.596 209.487.086.542 Others
Total 1.686.520.643.956 2.611.653.190.322 Total
a. Utang penyaluran: a. Distribution payables:

2018 2017
Golongan anggaran 213.820.134.350 177.893.173.584 Budget group

Cadangan beras pemerintah daerah 44.306.610.279 41.242.005.746 Regional government rice stocks
Operasi pasar 2.655.270.157 10.715.987.105 Market operations
BUMN 139.741.100 668.005.376 BUMN
Cadangan beras pemerintah - 2.030.283.278.125 Government Rice Reserve
Lainnya 310.564.933.484 116.926.820.655 Others
Total 571.486.689.370 2.377.729.270.591 Total
Dalam jumlah utang penyaluran terdapat utang Distribution payable includes Government Rice Reserves
Cadangan Beras Pemerintah (CBP) yang siap dipakai (CBP), which is available to use and can be used at any time
dan dapat digunakan setiap saat untuk memenuhi to meet the needs of society in relation to rice price volatility
kebutuhan beras masyarakat sehubungan adanya and catastrophic emergencies. CBP is stipulated in Law
gejolak harga dan keadaan darurat akibat bencana. CBP No. 18 year 2012 on Food.
tersebut ditetapkan dalam Undang-Undang No. 18
Tahun 2012 tentang Pangan.
57
18. UTANG USAHA (lanjutan) 18. TRADE PAYABLES (continued)

Pada tahun 2017 terdapat Cadangan Beras Pemerintah In 2017, Government Rice Reserve has a balance of
sebesar Rp 158.438.695.064 setara 17.872.385 kg. amounting to Rp 158,438,695,064 equivalent to
Perum BULOG menerima penambahan Cadangan 17,872,385 kgs. Perum BULOG received additional
Beras Pemerintah sebesar Rp 2.499.999.996.933 Government Rice Reserve amounting to
setara 286.750.373 kg beras dan pengembalian beras Rp 2,499,999,997,250 or equivalent to 286,750,373
dari Divre sebesar Rp 762.390.000 setara 86.000 kg. kgs of rice and return from Divre amounting to
Penggunaan Cadangan Beras Pemerintah sampai Rp 762,390,000 or equivalent to 86,000 kgs. The
dengan akhir tahun 2017 sebesar Rp 628.917.804.189 distribution of Government Rice Reserve rice until the
setara 71.818.805 kg. Sehingga saldo utang penyaluran end of 2017 was Rp 628,917,804,189 or equivalent to
untuk Cadangan Beras Pemerintah sebesar 71,818,805 kg. The outstanding balance of distribution
Rp 2.030.283.278.125 atau setara dengan 232.803.953 payable for Government rice reserve amounted to Rp
kg pada tanggal 31 Desember 2017. 2,030,283,278,125 or equivalent to 232,803,953 kgs
as of December 31, 2017.
Pada tahun 2018, Perum BULOG melakukan In 2018, Perum BULOG distributed Government Rice
penyaluran Cadangan Beras Pemerintah sebesar Reserves amounting to Rp 5,085,376,818,626 or
Rp 5.085.376.818.626 setara dengan 551.608.785 kg equivalent to 551,608,785 kgs of rice and received
beras dan penerimaan pencairan Cadangan Beras additional disbursement of Government Rice Reserves
Pemerintah sebesar Rp 2.405.131.757.000 setara amounting to Rp 2,405,131,757,000 or equivalent to
dengan 250.979.000 kg sehingga utang penyaluran 250,979,000 kgs which resulted to NIL distribution
untuk Cadangan Beras Pemerintah pada tanggal payable for Government Rice Reserve and receivable
31 Desember 2018 tidak ada dan timbul piutang sebesar amounting to Rp 649,961,783,501 as of December 31,
Rp 649.961.783.501 (Catatan 6). 2018 (Note 6).
b. Utang pengadaan: b. Procurement payables:

2018 2017
PSO PSO
Beras 107.717.972.134 18.557.216.850 Rice
Karung Pembungkus 4.675.000 1.440.000 Packaging sacks
Gula pasir 3.495.345.000 - Sugar
Beras 2.444.302.300 460.275.400 Rice
Minyak goreng - 5.369.900.939 Cooking oil
Bawang - 48.000.000 Onion
Lain-lain 91.196.556 - Others
Total 113.753.490.990 24.436.833.189 Total
c. Lain-lain: c. Others:
2018 2017
PSO PSO
Pemerintah 855.164.912.647 - Government
Jaminan 15.810.507.315 16.516.008.504 Security deposits
Swasta - 2.933.330 Private
Lainnya 16.533.071.682 33.543.969.315 Others
887.508.491.644 50.062.911.149
Dagang probis 86.246.101.223 119.498.354.566 Probis trade
Swasta 12.004.251.852 19.323.115.317 Private
Lainnya 15.521.618.877 20.602.705.510 Others
113.771.971.952 159.424.175.393
Total 1.001.280.463.596 209.487.086.542 Total
Utang pemerintah sebesar Rp 855.164.912.647 Trade payable to Government amounting to

merupakan penerimaan uang atas penyaluran Rp 855,164,912,647 represents receipt of money for
Cadangan Beras Pemerintah - operasi pasar dari pihak the distribution of Government Rice Reserves - market
ketiga yang belum disetorkan ke negara pada tanggal operations of third parties that have not been deposited
31 Desember 2018. to the state as of December 31, 2018.
58
19. PERPAJAKAN 19. TAXATION

a. Pajak dibayar di muka a. Prepaid taxes
2018 2017

Pajak Pertambahan Nilai - 338.870.812.214 Value Added Tax
Pajak Pertambahan Nilai 47.161.139.669 - Value Added Tax
Pajak penghasilan Income taxes
Pasal 25 - 554.734.040 Article 25
Total 47.161.139.669 339.425.546.254 Total
b. Utang pajak b. Taxes payable
2018 2017

Pajak Pertambahan Nilai 13.371.748.829 - Value Added Tax
Pajak Penghasilan Income taxes
Pasal 4 (2) 684.091.084 89.673.149 Article 4 (2)
Pasal 21 5.054.133.512 3.467.744.288 Article 21
Pasal 22 4.776.423.383 100.810.177 Article 22
Pasal 23 1.591.722.572 676.817.186 Article 23
Pajak Pertambahan Nilai - 3.314.142.602 Value Added Tax
Pajak Penghasilan Income taxes
Pasal 4 (2) 302.808.999 39.498.449 Article 4 (2)
Pasal 21 348.089.494 136.060.579 Article 21
Pasal 23 155.820.983 1.066.378.626 Article 23
Pasal 29 Article 29
2018 166.529.023 - 2018
2017 - 6.319.516.448 2017
2016 - 6.862.499.000 2016
Total 26.451.367.879 22.073.140.504 Total
c. Manfaat (beban) pajak penghasilan c. Income tax benefit (expense)
2018 2017
Beban pajak kini: Current tax expense

Beban pajak untuk tahun berjalan Current income tax for the year
Perum BULOG - (6.251.016.635 ) Perum BULOG
Entitas anak (18.853.392.250 ) (37.660.419.250 ) Subsidiaries
Sub total (18.853.392.250 ) (43.911.435.885 ) Sub total
Penyesuaian tahun lalu Adjusment in respect of prior years

Perum BULOG (60.548.500.663 ) 180.542.664.254 Perum BULOG
Manfaat (beban) pajak tangguhan Deferred tax benefit (expense)

Perum BULOG 387.756.309.124 559.732.160.441 Perum BULOG
Entitas anak (18.158.421.399 ) 10.521.841.678 Subsidiaries
Manfaat pajak penghasilan - neto 290.195.994.812 706.885.230.488 Income tax benefit - net
59
19. PERPAJAKAN (lanjutan) 19. TAXATION (continued)
d. Rekonsiliasi antara laba (rugi) sebelum pajak d. Reconciliation between income (loss) before income tax
penghasilan, dengan penghasilan kena pajak Perum per consolidated statement of profit or loss and other
BULOG untuk tahun yang berakhir 31 Desember 2018 comprehensive income and the estimated taxable
dan 2017 adalah sebagai berikut: income for the years ended December 31, 2018 and
2017 is as follows
2018 2017
Consolidated income (loss) before

Laba (rugi) sebelum pajak penghasilan (1.251.981.888.199 ) 124.095.263.062 income tax
Dikurangi: Less:
Rugi entitas anak sebelum pajak 59.995.214.546 40.672.133.629 Loss of subsidiaries before tax
Laba (rugi) sebelum pajak Profit (loss) before income tax

penghasilan - Perum BULOG (1.191.986.673.653 ) 164.767.396.691 attributable to Perum BULOG
Beda temporer: Temporary differences:

Penyusutan aset tetap (125.505.931.642 ) (187.926.339.263 ) Depreciation of fixed assets
Imbalan kerja 120.804.298.200 103.623.690.975 Employee benefits
Pembayaran imbalan kerja (68.335.746.583 ) (60.590.973.709 ) Employee benefits payment
Beban penyisihan penurunan nilai Provision for impairment on
piutang 10.119.796.943 28.222.944.008 receivables
Beban penyisihan penurunan nilai Provision for impairment on
persediaan 18.648.844.786 - Inventories
(44.268.738.296 ) (116.670.677.989 )
Beda tetap: Permanent differences:
Beban pajak 104.674.474.684 234.815.621.861 Tax expenses
Beban pegawai (171.524.411.600 ) 58.734.547.588 Employee expenses
Beban berhubungan Expenses associated with income
dengan penghasilan final 29.699.172.311 17.810.613.653 subjected to final tax
Penghasilan jasa giro, bunga deposito
dan sewa (335.479.651.202 ) (334.013.757.265 ) Interest income, deposits and rent
Pendapatan deviden - (6.080.000.000 ) Dividend income
Beban lainnya 17.963.573.890 5.640.322.000 Other expenses
(354.666.841.917 ) (23.092.652.163 )
Estimasi penghasilan kena pajak Estimated taxable income (fiscal

(rugi fiskal) Perum BULOG (1.590.922.253.866 ) 25.004.066.539 loss) of Perum BULOG
Beban pajak kini: Current tax expense:

Perum BULOG - (6.251.016.635 ) Perum BULOG
Entitas Anak (18.853.392.250 ) (37.660.419.250 ) Subsidiaries
Total (18.853.392.250 ) (43.911.435.885 ) Total
Dikurangi: Less:
Pajak dibayar di muka: Prepaid taxes:
Pasal 22 401.958.257.403 58.096.785.545 Article 22
Pasal 25 18.911.130.600 52.626.822.193 Article 25
420.869.388.003 110.723.607.738
60
e. Rekonsiliasi antara laba (rugi) sebelum pajak e. Reconciliation beween Consolidated income before
penghasilan, dengan penghasilan kena pajak Perum income tax in consolidated statement of profit or loss
BULOG untuk tahun yang berakhir 31 Desember 2018 and other comprehensive income and the estimated
dan 2017 adalah sebagai berikut: (lanjutan) taxable income for the years ended December 31,
2018 and 2017 is as follows (continued)
2018 2017
Pasal 22 13.348.281.058 3.586.643.182 Article 22
Pasal 23 12.875.211.745 29.733.205.982 Article 23
Pasal 25 5.977.062.888 1.607.696.820 Article 25
32.200.555.691 34.927.545.984
Taksiran tagihan (utang) pajak Estimated corporate income

penghasilan badan tax payable
Perum BULOG (420.869.388.003 ) (104.472.591.103 ) Perum BULOG
PT GMM (13.513.692.464 ) (3.586.643.182 ) PT GMM
PT JPLB 166.529.023 6.319.516.448 PT JPLB
Neto (434.216.551.444 ) (101.739.717.837 ) Net
Berdasarkan surat persetujuan dari kantor pajak Based on the approval letter from the tax office
No. 62/WPJ.19/2017 tanggal 22 Maret 2017 mengenai No. 62/WPJ.19/2017 dated March 22, 2017 regarding
“Penilaian Kembali Aset Tetap untuk Tujuan Perpajakan "Revaluation of Fixed Assets for Tax Purposes
bagi Permohonan yang diajukan di tahun 2015 dan Application filed in 2015 and 2016", Perum BULOG has
2016”, Perum BULOG telah mengajukan permohonan submitted such applications based on the fair value of
berdasarkan nilai wajar aset tetap berupa bangunan fixed assets in the form of warehouse building.
gudang.
Perum BULOG telah melakukan pembayaran pajak Perum BULOG has paid tax amounting to
secara keseluruhan sebesar Rp 121.986.369.149 dan Rp 121,986,369,149 which was charged to operating
dibebankan pada beban operasi sebagai bagian dari expenses as part of “Tax expenses” in the consolidated
“Beban pajak” pada laporan laba rugi dan penghasilan statement of profit or loss and other comprehensive
komprehensif lain konsolidasian. income.
Penilaian kembali aset tetap untuk tujuan perpajakan ini The revaluation of fixed assets for tax purposes results
menimbulkan perbedaan temporer yang dapat to deductible temporary difference because the fixed
dikurangkan karena dasar pengenaan pajak atas aset assets tax base is higher than the amount recorded for
tetap menjadi lebih tinggi dari jumlah tercatat secara accounting. The temporary difference also resulted to
akuntansi. Perbedaan temporer tersebut menimbulkan deferred tax assets because economic benefits will flow
aset pajak tangguhan karena manfaat ekonomis akan to Perum BULOG in the form of reduction in future
mengalir ke Perum BULOG dalam bentuk pengurangan taxable profit when the carrying of asset is recovered.
laba kena pajak dimasa depan ketika jumlah tercatat
aset tersebut terpulihkan.
Pada tahun 2017, Perum BULOG mengakui aset pajak In 2017, Perum BULOG recognized deferred tax assets
tangguhan sebesar Rp 623.393.123.577 atas selisih amounting to Rp 623,393,123,577 on the difference
nilai aset tetap hasil penilaian kembali yang telah between the excess in the amount of fixed assets
disetujui oleh Direktorat Jenderal Perpajakan diatas dan resulting from the asset revaluation approved by the
nilai buku neto fiskal semula. Directorate General of Taxation and the remaining net
book value per fiscal.
61
f. Rekonsiliasi antara beban pajak yang dihitung dengan f. A reconciliation between tax expense and amounts
menggunakan tarif pajak maksimum terhadap laba computed by applying the maximum tax rate to profit
sebelum pajak penghasilan adalah sebagai berikut: before income tax is as follows:
2018 2017
Laba konsolidasi sebelum manfaat Consolidated income before income tax
(beban) pajak penghasilan (1.251.981.888.199 ) 124.095.263.062 benefit (expense)
Manfaat (beban) pajak penghasilan Tax expense (benefit) by applying
sesuai tarif yang berlaku (312.995.472.050 ) 31.023.815.765 effective tax rates
Dampak pajak atas: Tax effects of:
Perbedaan tetap dan penilaian Permanent differences and
kembali aset tetap untuk tujuan asset revaluation for fixed
perpajakan 664.832.897.757 603.268.990.048 assets for tax purposes
Penyesuaian pajak tangguhan tahun Adjustment of previous year
Lalu (1.092.930.231 ) (107.950.239.579 ) deferred tax
Penyesuaian SKP (60.548.500.663 ) 180.542.664.254 Adjustment SKP
Manfaat pajak Penghasilan 290.195.994.812 706.885.230.488 Income tax benefit - net
Surat Pemberitahuan Tahunan (SPT) PPh badan yang Annual Income Tax Return (SPT) The reported
dilaporkan tidak sesuai dengan laporan keuangan. corporate tax returns do not match the financial
statements.
g. Taksiran tagihan pajak g. Estimated claims for tax refund
Rincian taksiran tagihan pajak: The details of estimated claims for tax refund:
2018 2017
Pajak penghasilan: Income taxes:
2018 2018
Tahun berjalan 420.869.388.003 - Current
Pengembalian PPh pasal 22 81.189.414.600 - Income taxes article 22
2017 2017
Tahun berjalan 104.472.591.103 104.472.591.103 Current
Restitusi - PPN 347.030.846.188 - Restitution - VAT
2016 2016
2015 2015
Pembayaran SKPKB 19.206.925.914 19.206.925.914 Payment of SKPKB
2014 2014
Pembayaran SKPKB - PPN 26.890.018.753 - Payment of SKPKB - VAT
2013 2013
Pembayaran SKPKB - PPN 12.717.065.759 12.717.065.759 Payment of SKPKB - VAT
2011 2011
Pembayaran SKPKB - pasal 21 1.310.064.431 1.310.064.431 Payment of SKPKB - Article 21
2010 2010
2018 13.513.692.464 - 2018
2017 3.586.643.182 3.586.643.182 2017
Total 1.453.994.654.489 625.049.795.144 Total
62
g. Taksiran tagihan pajak (lanjutan) g. Estimated claims for tax refund (continued)
Tahun 2010 Year 2010
Pada tanggal 27 Nopember 2012, Perum BULOG On November 27, 2012, Perum BULOG received tax
menerima Surat Ketetapan Pajak Kurang Bayar underpayment assessment letter
("SKPKB") No.00004/206/10/051/12 atas Pajak No. 00004/206/10/051/12 for income tax for fiscal year
Penghasilan dari Kantor Pajak untuk tahun pajak 2010. 2010 from Tax Office. Based on the tax underpayment
Berdasarkan SKPKB tersebut, Perum BULOG terutang letter, Perum BULOG has an additional tax payable of
tambahan Pajak Penghasilan sebesar Rp 61,332,334,614, which was paid by Perum BULOG.
Rp 61.332.334.614, yang dibayar oleh Perum BULOG. The amount based on the discussion of the
Jumlah berdasarkan pembahasan akhir hasil examination is overpayment of Rp 68,809,612,134.
pemeriksaan adalah lebih bayar sebesar
Rp 68.809.612.134.
Berdasarkan Surat No.B-148/II/DK.202/02/2013 Based on the Letter No.B-148/II/DK.202/02/2013 dated

Tanggal 26 Pebruari 2013 Perum BULOG mengajukan February 26, 2013, Perum BULOG filed an objection
keberatan atas Surat Ketetapan Pajak Kurang Bayar Letter on the above tax underpayment
Penghasilan dari Kantor Pajak untuk tahun pajak 2010. 2010 from Tax Office.
Pada tanggal 8 Nopember 2013, Perum BULOG On November 8, 2013, Perum BULOG received the
menerima Keputusan Dirjen Pajak Directorate General of Taxation
No. KEP-1570/WPJ.19/2013, yang berisi menolak No. KEP-1570/WPJ.19/2013, which rejected the
keberatan atas Surat Ketetapan Pajak Kurang Bayar objection Letter on the above tax underpayment
No.00004/206/10/051/12. Perum BULOG mengajukan No.00004/206/10/051/12. Perum BULOG filed an
banding atas keputusan tersebut berdasarkan Surat appeal on this result based on the Letter
No.B-/76/II/DK.202/02/2014 Tanggal 4 Pebruari 2014. No. B-/76/II/DK.202/02/2014 dated February 4, 2014.
Sampai dengan penyelesaian laporan keuangan Until the completion of the consolidated financial
konsolidasian, hasil banding belum diterima oleh Perum statements, the result of the appeal has not yet been
BULOG. received by Perum Bulog.
Penghasilan dari Kantor Pajak untuk tahun pajak 2011. 2011 from Tax Office. Based on the tax underpayment
Berdasarkan SKPKB tersebut, Perum BULOG terutang letter, Perum BULOG has an additional tax payable of
tambahan Pajak Penghasilan sebesar Rp 66,862,038,963 which was paid by Perum BULOG,
Rp 66.862.038.963 yang dibayar oleh Perum BULOG, the amount at the end of the discussion of the results of
jumlah yang telah disetujui berdasarkan pembahasan the examination is Rp 133,746,054,768.
akhir hasil pemeriksaan adalah sebesar
Rp 133.746.054.768.
Berdasarkan Surat No. B-41/II/DK.202/01/2014 Tanggal Based on the Letter No. B-41/II/DK.202/01/2014 dated
29 Januari 2014 Perum BULOG mengajukan keberatan January 29, 2014, Perum BULOG filed an objection
atas Surat Ketetapan Pajak Kurang Bayar ("SKPKB") Letter on the above tax underpayment
No. 00005/206/11/051/13 atas Pajak Penghasilan dari No. 00005/206/11/051/13 for income tax for fiscal year
Kantor Pajak untuk tahun pajak 2011. 2011 from Tax Office.
63
Tahun 2011 (lanjutan) Year 2011 (continued)
Pada tanggal 5 Nopember 2014, Perum BULOG On November 5, 2014, Perum BULOG received the
menerima Keputusan Dirjen Pajak Directorate General of Taxation
No. KEP-2257/WPJ.19/2014, yang berisi menolak No. KEP-2257/WPJ.19/2014, which rejected the
keberatan atas Surat Ketetapan Pajak Kurang Bayar objection Letter on the above tax underpayment
No. 00005/206/11/051/13. Perum BULOG mengajukan No.00005/206/11/051/13. Perum BULOG filed an
banding atas keputusan tersebut berdasarkan Surat appeal on this result based on the Letter
No. B-/718/II/DK.202/12/2014 Tanggal 23 Desember No. B-/718/II/DK.202/12/2014 dated December 23,
2014. 2014.
Pada tanggal 28 Nopember 2018, Perum BULOG On November 28, 2018, Perum BULOG received Tax
menerima Putusan Pengadilan Pajak Court Decision No. PUT-086982.12 / 2011 / PP / M.VB
No. PUT-086982.12/2011/PP/M.VB tahun 2018, yang in 2018, which rejected the appeal on Directorate
berisi menolak banding atas keberatan Keputusan General of Taxation No. KEP-2257/WPJ.19/2014.
Dirjen Pajak No. KEP-2257/WPJ.19/2014. Perum Perum BULOG filed a request for a review of the Tax
BULOG mengajukan permohonan peninjauan kembali Court Decision based on the letter
atas keputusan tersebut berdasarkan Surat No. B-134/II/DK.302/02/2019 dated February 1, 2019.
No. B-134/II/DK.302/02/2019 Tanggal 1 Pebruari 2019.
("SKPKB") No. 00067/201/11/051/13 atas Pajak No. 00067/201/11/051/13 for income tax article 21 for
Penghasilan Pasal 21 untuk tahun fiskal 2011, sebesar the fiscal year 2011, amounted Rp 1,310,064,431,
Rp 1.310.064.431, yang dibayar oleh Perum BULOG. which was paid by Perum BULOG.
Berdasarkan Surat B-/48/II/DK.202/01/2014 Tanggal Based on the Letter No. B-/48/II/DK.202/01/2014 dated
29 Januari 2014, Perum BULOG mengajukan January 29, 2014, Perum BULOG filed an objection
keberatan atas Surat Ketetapan Pajak Kurang Bayar Letter for the above tax underpayment.
("SKPKB").
konsolidasian, hasil keberatan belum diterima oleh statements, the result of the objection has not yet been
Perum BULOG. received by Perum Bulog.

Pada tanggal 20 September 2017 terdapat Surat On September 20, 2017, Perum BULOG received tax
Ketetapan Pajak Kurang Bayar (SKPKB) tahun 2013 assessment letter on tax underpayment for Value
atas Pajak Pertambahan Nilai sebesar Added Tax for fiscal year 2013 amounting to
Rp 12.717.065.759 dan dalam proses permohonan Rp 12,717,065,759 which is still in the objection
keberatan. process.

Pada tanggal 25 April 2016, Perum BULOG menerima On April 25, 2016, Perum BULOG received tax
Surat Ketetapan Pajak Kurang Bayar ("SKPKB") underpayment assessment letter
Kantor Pajak untuk tahun pajak 2014. Berdasarkan 2014 from Tax Office. Based on the tax underpayment
SKPKB tersebut, Perum BULOG terutang tambahan letter, Perum BULOG has an additional tax payable of
Pajak Penghasilan sebesar Rp 53.052.042.120 yang Rp 53,052,042,120 which was paid by Perum BULOG.
telah dibayar oleh Perum BULOG.
Berdasarkan Surat No. B-653/II/DK.302/01/2016 Based on the Letter No. B-653/II/DK.302/01/2016 dated
Tanggal 21 Juli 2016 Perum BULOG mengajukan July 21, 2016, Perum BULOG filed an objection on the
keberatan atas Surat Ketetapan Pajak Kurang Bayar above tax underpayment
64
19. PERPAJAKAN (LANJUTAN) 19. TAXATION (CONTINUED)

Tahun 2014 (lanjutan) Year 2014 (continued)
Pada tanggal 21 Juni 2017, Perum BULOG menerima On June 21, 2017, Perum BULOG received the
Keputusan Dirjen Pajak Directorate General of Taxation
No. KEP-00424/KEB/WPJ.19/2017, yang berisi No. KEP-00424/KEB/WPJ.19/2017, which rejected the
menolak keberatan atas Surat Ketetapan Pajak Kurang objection on the above tax underpayment
Bayar No.00010/206/14/051/16. Perum BULOG No. 00010/206/14/051/16. Perum BULOG filed an
mengajukan banding atas keputusan tersebut appeal on this result based on the Letter
berdasarkan Surat No. B-540/II/DK.302/06/2017 No. B-540/II/DK.302/06/2017 dated June 21, 2017.
Tanggal 21 Juni 2017.
BULOG. received by Perum BULOG.
Pada tanggal 7 Pebruari 2018 Perum BULOG menerima On February 7, 2018 Perum BULOG received tax
Surat Ketetapan Pajak Kurang Bayar (SKPKB) tahun assessment letter on tax underpayment for Value
2014 atas Pajak Pertambahan Nilai sebesar Added Tax for fiscal year 2014 amounting to
Rp 26.890.018.753 yang masih dalam proses Rp 26,890,018,753 which is still in the objection
permohonan keberatan. process.

Berdasarkan Surat Ketetapan Pajak Kurang Bayar Perum Bulog received assessment letter on tax
("SKPKB") Penghasilan Badan tahun pajak 2015 underpayment for corporate income tax fiscal year 2015
dengan No. 00008/206/15/051/17 tanggal 27 April 2017 with No. 00008/206/15/051/17 dated April 27, 2017
adalah Rp 24.596.892.235, dan telah dibayar sebesar amounted to Rp 24,596,892,235 which
Rp 19.206.925.914 dan berdasarkan surat Rp 19,206,925,914 was paid by Perum BULOG. Based
B-622/II/DK.302/07/2017 tanggal 27 April 2017 Perum on letter B-622 / II / DK.302 / 07/2017 dated April 27,
BULOG mengajukan permohonan keberatan atas 2017 Perum Bulog filed a petition on the
pajak kurang bayar tersebut. Jumlah lebih bayar yang aforementioned tax underpayment. The overpayment
telah disetujui berdasarkan pembahasan akhir hasil amount based on the final discussion of the
pemeriksaan sebesar Rp 64.399.741.571. examination result is Rp 64,399,741,571.
Pada tanggal 22 Mei 2018, Perum BULOG menerima On May 22, 2018, Perum BULOG received the
Keputusan Dirjen Pajak No. KEP- Directorate General of Taxation
00471/KEB/WPJ.19/2018, yang berisi menolak No. KEP-00471/KEB/WPJ.19/2018, which rejected the
keberatan atas Surat Ketetapan Pajak Kurang Bayar objection on the above tax underpayment
No.00008/206/15/051/17. Perum BULOG mengajukan No.00008/206/15/051/17. Perum BULOG filed an
banding atas keputusan tersebut berdasarkan Surat No. appeal on this result based on the Letter
B-1062/II/DK.302/08/2017 Tanggal 20 Agustus 2018. No. B-1062/II/DK.302/08/2017 dated August 20, 2018.
BULOG. received by Perum Bulog.

Pada tanggal 20 Juli 2018, Perum BULOG menerima On July 20, 2018, Perum BULOG received tax
Surat Ketetapan Pajak Lebih Bayar ("SKPLB") overpayment assessment letter
Kantor Pajak untuk tahun pajak 2016. Berdasarkan 2016 from Tax Office. Based on the tax overpayment
SKPLB tersebut, jumlah pajak lebih bayar sebesar letter, Perum BULOG has overpayment of
Rp 14.674.245.603. Jumlah lebih bayar yang telah Rp 14,674,245,603. The overpayment amount based
disetujui berdasarkan pembahasan akhir hasil on the final discussion of the examination result is
pemeriksaan sebesar Rp 85.592.528.770. Selisih Rp 85,592,528,770. The difference of
sebesar Rp 60.548.500.663 dari klaim dibebankan pada Rp 60,548,500,663 from the claim was charged in
tahun berjalan sebagai beban pajak penghasilan. current year as part of income tax expense.
Berdasarkan Surat No. B-1300/II/DK.302/10/2018 Based on the Letter No. B-1300/II/DK.302/10/2018

Tanggal 17 Oktober 2018 Perum BULOG mengajukan dated October 17, 2018, Perum BULOG filed an
keberatan atas Surat Ketetapan Pajak Lebih Bayar objection Letter on the above tax underpayment
("SKPLB") No. 00043/406/16/051/18 atas Pajak No. 00043/406/16/051/18 for income tax for fiscal year
konsolidasian, hasil keberatan belum diterima oleh statements, the result of the objection has not yet been
Perum BULOG. received by Perum Bulog.
65

Pada tahun 2017, Perum BULOG melakukan restitusi In 2017, Perum BULOG conduct restitution on Value
atas Pajak Pertambahan Nilai penjualan gula sebesar Added Tax on sugar sales of Rp 347,030,846,188.
Rp 347.030.846.188.

Berdasarkan Surat No. B-124/II/DK.302/KU.13.12/01/ Based on the Letter No. B-124/II/DK.302/KU.13.12/01/
2019 tanggal 31 Januari 2019 Perum BULOG 2019 dated January 31, 2019 Perum BULOG an
mengajukan permohonan untuk pengembalian PPh application for the refund of income tax article 22
pasal 22 atas transaksi dengan Asosiasi Petani Tebu submitted for transactions with Association of People's
Rakyat sebesar Rp 81.189.414.600. Sugar Cane Farmers of Rp 81,189,414,600.
h. Aset pajak tangguhan h. Deferred tax assets
Dibebankan ke
Dikreditkan Penghasilan
(dibebankan) ke komprehensif
laba tahun lain/
berjalan/ Charged
31 Desember Credited (charged) to other 31 Desember/
December 31, to profit Comprehensive December 31,
2017 for the year Income 2018

Employee benefits
Liabilitas imbalan kerja 67.010.529.170 13.117.137.904 (41.632.230.590 ) 38.495.436.484 liability
Cadangan penurunan nilai - Allowance for impairment -
piutang 75.253.708.063 2.529.949.236 - 77.783.657.299 receivables
persediaan - 4.662.211.197 - 4.662.211.197 inventories
Rugi fiskal - 397.730.563.467 - 397.730.563.467 Fiscal loss
Aset tetap 647.335.362.843 (30.283.552.680 ) - 617.051.810.163 Fixed assets
Liabilitas imbalan kerja 1.468.243.451 462.988.850 (463.160.808 ) 1.468.071.493 Employee benefit liability
piutang 4.192.344.762 188.472.548 - 4.380.817.310 receivables
Rugi fiskal 132.299.709.272 (17.944.505.088 ) - 114.355.204.184 Fiscal loss
Aset tetap (44.963.500.251 ) (865.377.709 ) - (45.828.877.960 ) Fixed assets
Total 882.596.397.310 369.597.887.725 (42.095.391.398 ) 1.210.098.893.637 Total
Dikreditkan ke
Dikreditkan penghasilan
(dibebankan) ke komprehensif
laba tahun lain/
berjalan/ Credited
31 Desember Credited (charged) to other 31 Desember
December 31, to profit comprehensive December 31,
2016 for the year income 2017

Employee benefits
Liabilitas imbalan kerja - 10.114.798.033 56.895.731.137 67.010.529.170 liability
Cadangan penurunan nilai 68.213.745.021 7.039.963.042 - 75.253.708.063 Allowance for impairment
Aset tetap 104.757.963.477 542.577.399.366 - 647.335.362.843 Fixed assets
Liabilitas imbalan kerja 605.171.887 643.381.284 219.690.280 1.468.243.451 Employee benefit liability
Cadangan penurunan nilai 4.194.219.762 (1.875.000 ) - 4.192.344.762 Allowance for impairment
Rugi fiskal 118.511.910.304 13.787.798.968 - 132.299.709.272 Fiscal loss
Aset tetap (41.056.036.677 ) (3.907.463.574 ) - (44.963.500.251 ) Fixed assets
Total 255.226.973.774 570.254.002.119 57.115.421.417 882.596.397.310 Total
66
20. BIAYA YANG MASIH HARUS DIBAYAR 20. ACCRUED EXPENSES
Akun ini terdiri dari: This account consist:
2018 2017
PSO PSO
Biaya umum dan biaya pegawai 283.760.128.790 479.298.355.976 General and employee expenses
Biaya eksploitasi 7.203.073.491 - Exploitation expenses
Biaya lainnya 11.641.297.333 52.970.522.204 Others
Biaya umum dan biaya pegawai 238.990.654.907 130.545.623.675 General and employee expenses
Biaya lainnya 982.705.260 1.104.752.259 Others
Total 542.577.859.781 663.919.254.114 Total
21. UANG MUKA PENJUALAN 21. SALES ADVANCES
Akun ini merupakan pendapatan yang diterima di divre- This account represents sales received in advance in
divre, Kantor Pusat dan Unit Bisnis, namun belum dapat regional division, head office, and business unit that have
diakui sebagai pendapatan pada tanggal 31 Desember not yet recognized as revenue for the years ended
2018 dan 2017 masing-masing sebesar December 31, 2018 and 2017 amounted to
Rp 39.885.245.401 dan Rp 16.817.221.305. Rp 39,885,245,401 and Rp 16,817,221,305, respectively.
22. UTANG PEMBIAYAAN KONSUMEN 22. CONSUMER FINANCING PAYABLES

Rincian utang pembiayaan adalah sebagai berikut: The details of lease payables are as follows:
2018 2017
PT Mandiri Tunas Finance 3.552.100.232 287.968.000 PT Mandiri Tunas Finance

PT Adira Dinamika Finance 1.135.778.814 - PT Adira Dinamika Finance
PT Mandiri Utama Finance 505.103.104 - PT Mandiri Utama Finance
PT Indomobil Finance 199.288.889 - PT Indomobil Finance
PT SMFL Leasing Indonesia 87.849.991 263.549.994 PT SMFL Leasing Indonesia
Total 5.480.121.030 551.517.994 Total
Dikurangi bagian yang jatuh tempo

dalam waktu satu tahun 1.757.645.817 389.365.671 Less current maturities
Bagian jangka panjang 3.722.475.213 162.152.323 Long term portion
PT JPLB PT JPLB
PT Mandiri Tunas Finance PT Mandiri Tunas Finance
Pada tanggal 17 Mei 2018, PT JPLB mendapatkan fasilitas On May 17, 2018, PT JPLB obtained a credit facility for
kredit untuk pembiayaan konsumen dari financing consumers from PT Mandiri Tunas Finance in the
PT Mandiri Tunas Finance sebesar Rp 7.702.500.000 untuk amount of Rp 7,702,500,000 for the purchase of motorized
pembelian kendaraan bermotor. Jangka waktu fasilitas vehicles. The term of this credit facility is 48 months and will
kredit ini adalah 48 bulan dan akan jatuh tempo pada bulan mature in May 2022. This credit facility is guaranteed by the
Mei 2022. Fasilitas kredit ini dijamin dengan kendaraan vehicle purchased and bears an 11.30% annual interest rate.
yang dibeli dan dikenakan tingkat bunga 11,30% pertahun.
Pada tanggal 31 Mei 2017, PT JPLB mendapatakan fasilitas On May 31, 2017, PT JPLB obtained a credit facility for
kredit untuk pembiayaan konsumen dari PT Mandiri Tunas consumer financing from PT Mandiri Tunas Finance in the
Finance sebesar Rp 223.000.000 untuk pembelian amount of Rp 223,000,000 for the purchase of motorized
kendaraan bermotor berdasarkan perjanjian vehicles based on agreement No. 9271700530. The duration
No. 9271700530. Jangka waktu fasilitas kredit ini adalah 36 of this credit facility is 36 months and will mature in May
bulan dan akan jatuh tempo pada bulan Mei 2020. Fasilitas 2020. This credit facility is secured by the vehicle purchased
kredit ini dijamin dengan kendaraan yang dibeli dan and bears an interest rate of 18.45% per annum.
dikenakan tingkat bunga 18,45% per tahun.
Pada tanggal 2 Agustus 2015, PT JPLB mendapatkan On August 2, 2015, PT JPLB obtained consumer financing
fasilitas kredit untuk pembiayaan konsumen dari credit facility from PT Mandiri Tunas Finance amounting to
PT Mandiri Tunas Finance sebesar Rp 491.403.450 untuk Rp 491,403,450 for purchase of motor vehicle with
pembelian kendaraan bermotor berdasarkan perjanjian agreement No. 967150051. This facility period is 36 months
No. 9671500511. Jangka waktu fasilitas kredit ini adalah 36 and will be due in August 2018. This facility has been fully
bulan dan akan jatuh tempo pada bulan Agustus 2018. paid in August 2018.
67
22. UTANG PEMBIAYAAN KONSUMEN (lanjutan) 22. CONSUMER FINANCING PAYABLES (continued)
PT JPLB (lanjutan) PT JPLB (continued)
PT Mandiri Tunas Finance (lanjutan) PT Mandiri Tunas Finance (continued)
Fasilitas kredit ini dijamin dengan kendaraan yang dibeli dan This facility is secured by the purchased vehicles and bears
dikenakan tingkat bunga 8,25% per tahun. interest at the rate of 8.25% per annum.
pembiayaan konsumen pada PT Mandiri Tunas Finance consumer financing payable to PT Mandiri Tunas Finance
masing-masing sebesar Rp 3.552.100.232 dan amounted to Rp 3,552,100,232 and Rp 287,968,000,
Rp 287.968.000. respectively.
PT SMFL Leasing Indonesia PT SMFL Leasing Indonesia
Pada tanggal 21 Maret 2016, PT JPLB mendapatkan On March 21, 2016, PT JPLB obtained investment financing
fasilitas kredit untuk pembiayaan investasi pembelian under installment financing credit facility from PT SMFL
dengan pembayaran secara angsuran dari PT SMFL Leasing Indonesia amounting to Rp 527,100,000 for
Leasing Indonesia sebesar Rp 527.100.000 untuk purchase of motor vehicle based on Agreement
pembelian kendaraan bermotor berdasarkan perjanjian No. 002/SMFL-MKT/MKS/FJ/III/2016. The facility period is
No. 002/SMFL-MKT/MKS/FJ/III/2016. Jangka waktu for 36 months (June 2016 unitl May 2019). This facility is
fasilitas kredit ini adalah 36 bulan (Juni 2016 sampai Mei secured by the purchased vehicles and bears interest at the
2019). Fasilitas kredit ini dijamin dengan kendaraan yang rate of 7.07% per annum.
dibeli dan dikenakan tingkat bunga 7,07% per tahun.
pembiayaan konsumen pada PT SMFL Leasing Indonesia consumer financing payable to PT SMFL Leasing Indonesia
masing-masing sebesar Rp 87.849.991 dan Rp 316.357.655. amounted to Rp 87,849,9991 and Rp 316,357,655,
respectively.
PT Adira Dinamika Multi Finance Tbk PT Adira Dinamika Multi Finance Tbk
Pada tanggal 29 September 2018, PT JPLB mendapatkan On September 29, 2018, PT JPLB obtained a credit facility
fasilitas kredit untuk pembiayaan konsumen dari PT Adira for consumer financing from PT Adira Dinamika Multi
Dinamika Multi Finance Tbk sebesar Rp 430.440.886 untuk Finance Tbk in the amount of Rp 430,440,886 for the
pembelian kendaraan bermotor. Jangka waktu fasilitas purchase of motorized vehicles. The term of this credit facility
kredit ini adalah 48 bulan dan akan jatuh tempo pada bulan is 48 months and will mature on September 18, 2022. This
18 September 2022. Fasilitas kredit ini dijamin dengan facility is secured by the purchased vehicles and bears
kendaraan yang dibeli dan dikenakan tingkat bunga 16,50% interest at the rate of 16.50% per annum.
per tahun.
Pada tanggal 30 Nopember 2018, PT JPLB mendapatkan On November 30, 2018, PT JPLB obtained a credit facility
fasilitas kredit untuk pembiayaan konsumen dari PT Adira for consumer financing from PT Adira Dinamika Multi
Dinamika Multi Finance Tbk sebesar Rp 403.631.979 dan Finance Tbk amounting to Rp 403,631,979 and
Rp 345.339.991 untuk pembelian kendaraan bermotor. Rp 345,339,991 for the purchase of motorized vehicles. The
Jangka waktu fasilitas kredit ini adalah 36 bulan dan akan term of this credit facility is 36 months and will mature in
jatuh tempo pada bulan Nopember 2021. November 2021.
Fasilitas kredit ini dijamin dengan kendaraan yang dibeli dan This facility is secured by the purchased vehicles and bears
dikenakan tingkat bunga 19,23% dan 18,12% per tahun. interest at the rate of 19.23% and 18.12% per annum.
Pada tanggal 31 Desember 2018, saldo utang pembiayaan As of December 31, 2018, the balance of the consumer
konsumen pada PT Adira Dinamika Multi Finance Tbk sebesar financing payable to PT Adira Dinamika Multi Finance Tbk
Rp 1.135.778.814. amounted to Rp 1,135,778,814.
PT Indomobil Finance PT Indomobil Finance
Pada tanggal 18 Agustus 2018, PT JPLB mendapatkan On August 18, 2018, PT JPLB obtained a credit facility for
fasilitas kredit untuk pembiayaan konsumen dari PT consumer financing from PT Indomobil Finance in the
Indomobil Finance sebesar Rp 295.000.000 untuk amount of Rp 295,000,000 for the purchase of motorized
pembelian kendaraan bermotor. Jangka waktu fasilitas vehicles. The term of this credit facility is 36 months and will
kredit ini adalah 36 bulan dan akan jatuh tempo pada bulan be due on the month August 1, 2021. This credit facility is
1 Agustus 2021. Fasilitas kredit ini dijamin dengan guaranteed by vehicles purchased and subject to 16.30%
kendaraan yang dibeli dan dikenakan tingkat bunga 16,30% interest rates per annum.
per tahun.
konsumen pada PT Indomobil Finance sebesar financing payable to PT Indomobil Finance amounted to
Rp 199.288.889. Rp 199,288,889.
68
22. UTANG PEMBIAYAAN KONSUMEN (lanjutan) 22. CONSUMER FINANCING PAYABLES (continued)
PT JPLB (lanjutan) PT JPLB (continued)
PT Mandiri Utama Finance PT Mandiri Utama Finance
Pada tanggal 21 December 2018, PT JPLB mendapatkan On December 21, 2018, PT JPLB obtained a credit facility
fasilitas kredit untuk pembiayaan konsumen dari PT Mandiri for consumer financing from PT Mandiri Utama Finance for
Utama Finance sebesar Rp 441.800.000 untuk pembelian Rp. 441,800,000 for the purchase of motorized vehicles. The
kendaraan bermotor. Jangka waktu fasilitas kredit ini adalah term of this credit facility is 36 months and will mature on
36 bulan dan akan jatuh tempo pada bulan 19 Desember December 19, 2022. This credit facility is secured by the
2022. Fasilitas kredit ini dijamin dengan kendaraan yang vehicle purchased and bears an interest rate of 12.94% per
dibeli dan dikenakan tingkat bunga 12,94% per tahun. annum.
konsumen pada PT Mandiri Utama Finance sebesar financing payable to PT Mandiri Utama Finance amounted to
Rp 505.103.104. Rp 505,103,104.
23. UTANG BANK JANGKA PANJANG 23. LONG-TERM BANK LOANS

Rincian utang bank jangka panjang adalah sebagai berikut: The details of long-term bank loans are as follows:
2018 2017
PT Bank Rakyat Indonesia (Persero) Tbk 869.769.313.879 888.021.050.020 PT Bank Rakyat Indonesia (Persero) Tbk
Dikurangi bagian yang jatuh tempo
dalam waktu satu tahun 81.321.040.000 75.261.800.000 Less current maturities
Bagian jangka panjang 788.448.273.879 812.759.250.020 Long term portion
PT JPLB PT JPLB
Kredit Investasi untuk Tambahan Dana Investasi Investment Loan for an Additional Funds for Purchase
Pembelian Truk of Truck
Pada tanggal 8 Oktober 2015, PT JPLB mendapatkan On October 8, 2015, PT JPLB obtained an Investment
fasilitas Kredit Investasi untuk dana tambahan pembelian Facility for additional funds for acquisition of truck from
truk dari PT Bank Rakyat Indonesia (Persero) Tbk. PT Bank Rakyat Indonesia (Persero) Tbk based on Deed No.
Berdasarkan akta notaris No. 1 oleh Muchlis Patahna, SH., 1 of Muchlis Patahna, SH., MKn. This facility has credit limit
MKn. Plafon yang diberikan adalah sebesar amounting to Rp 8,100,000,000, bears interest at 12.5% per
Rp 8.100.000.000, tingkat bunga 12,5% pertahun. year and will mature on October 21, 2019.
Perjanjian kredit ini akan berakhir pada tanggal 21 Oktober
2019.
Agunan atas perjanjian tersebut adalah fidusia atas piutang This facility is secured by fiduciary on trade receivables
usaha sebesar Rp 24.227.000.000 dan kendaraan truk amounting to Rp 24,227,000,000 and operational truck
operasional sebesar Rp 12.585.000.000 amounting to Rp 12,585,000,000
Kredit Investasi Dengan Memakai Jaminan untuk Investment Loan with Collateral for Purchase of
Pembelian Ruko Shophuose
Pada tanggal 11 Agustus 2015, PT JPLB mendapatkan On August 11, 2015, PT JPLB obtained an Investment
fasilitas Kredit Investasi Dengan Memakai Jaminan untuk Facility with Collateral for Purchase of Commercial Space
pembelian ruko dari PT Bank Rakyat Indonesia (Persero) from PT Bank Rakyat Indonesia (Persero) Tbk based on
Tbk. Berdasarkan akta notaris No. 14 dari Hans Tantular Deed No. 14 of Hans Tantular Trenggono, SH. amounting to
Trenggono, SH. Plafon yang diberikan adalah sebesar Rp 1,050,000,000. This facility bears an interest rate at 13%
Rp 1.050.000.000. tingkat suku bunga 13% pertahun. per annum and matured on August 11, 2018.
Perjanjian kredit ini berakhir pada tanggal 11 Agustus 2018.
Agunan atas perjanjian tersebut adalah tanah dan This loan is collateral by the purchased land and building.
bangunan yang dibeli.
Pada tanggal 31 Desember 2018 dan 2017, saldo utang As of December 31, 2018 and 2017, the balance of above
bank pada PT Bank Rakyat Indonesia (Persero) Tbk facilities to PT Bank Rakyat Indonesia (Persero) Tbk
masing-masing sebesar Rp 5.922.400.000 dan amounting to Rp 5,922,400,000 and Rp 3,939,800,000,
Rp 3.939.800.000. respectively.
69
23. UTANG BANK JANGKA PANJANG (lanjutan) 23. LONG-TERM BANK LOANS (continued)
PT GMM PT GMM
Restrukturisasi Kredit Loan Restructuring
Pada tanggal 13 Desember 2018, Perusahaan On December 13, 2018, the Company obtained restructuring
mendapatkan restrukturisasi kredit yang meliputi antara lain facility with rescheduled principal and interest payments,
penjadwalan ulang pembayaran pokok kredit dan bunga, reduced overdue interest, reduced interest rates and
penurunan tunggakan bunga, dan penurunan tingkat bunga increased loan facilities from PT Bank Rakyat Indonesia
dan penambahan fasilitas kredit Berdasarkan surat (Persero) Tbk based on letter No. R.II. 312-
No. R.II. 312-OPK/DKD/12/2018. fasilitas kredit sebesar OPK/DKD/12/2018 amounting to Rp 885,424,000,000. This
Rp 885.424.000.000. tingkat suku bunga 9,5% pertahun. facility bears interest at 9.5% per annum and will mature on
Perjanjian kredit ini akan berakhir pada tanggal November 20, 2026 (including grace period of 1 year).
20 Nopember 2026 (termasuk grace period selama satu
tahun).
Agunan atas perjanjian tersebut adalah sebagai berikut: The above facility is collateral 2016 with the following:
● Beberapa hak tanggungan atas tanah dan ● Several land with Rights to Build certificate (HGB)
bangunan dengan sertifikat Hak Guna Bangunan located in Kecamatan Todanan and Japah amounting to
(HGB) yang terletak di Kecamatan Todanan dan Japah Rp Rp 1,257,293,000,000.
sebesar Rp 1.257.293.000.000
● Fidusia atas piutang usaha sebesar ● Fiduciary on trade receivables amounting to
Rp 200.000.000.000. Rp 200,000,000,000.
● Fidusia atas persediaan sebesar Rp 300.000.000.000. ● Fiduciary on inventories amounting to
Rp 300,000,000,000.
bank pada PT Bank Rakyat Indonesia (Persero) Tbk above facility to PT Bank Rakyat Indonesia (Persero) Tbk
sebesar Rp 863.846.913.879 dan Rp 884.081.250.020. amounted to Rp 863,846,913,879 and Rp 884,081,250,020,
respectively.
24. LIABILITAS IMBALAN KERJA 24. EMPLOYEE BENEFITS LIABILITY

Program Pensiun Perum BULOG dikelola oleh Perum BULOG's pension plan is managed by PT Taspen for
PT Taspen untuk karyawan yang berstatus pegawai negeri government employee status and by PT Asuransi Jiwasraya
dan oleh PT Asuransi Jiwasraya (Persero) dan (Persero) and PT Taspen Life for Perum BULOG employee
PT Taspen Life untuk karyawan yang berstatus pegawai status with a purpose to guarantee the sustainability of
Perum BULOG dengan tujuan memberikan jaminan income for employees after retirement.
kesinambungan penghasilan bagi karyawan setelah
pensiun.
Program Imbalan Kerja Bagi Karyawan Employee Benefits Program for Employees
Pengalihan kelembagaan BULOG dari LPND (Lembaga The change of BULOG institution from LPND (Lembaga
Pemerintah Non Departemen) menjadi Perum sesuai PP Pemerintah Non Departemen) to Perum based on PP No. 7
No. 7 Tahun 2003 sebagaimana telah diubah dengan PP Year 2003, as amended by PP No. 61 of 2003 resulted to the
No. 61 Tahun 2003 membawa konsekuensi pengalihan change in the employment status of government employees
status kepegawaian dari PNS menjadi pegawai Perum to Perum BULOG employees and seconded government
BULOG dan PNS BKN diperbantukan terhitung mulai employees commencing January 1, 2004. This resulted to
tanggal 1 Januari 2004. Hal tersebut mengakibatkan differences in the treatment of pension rights (Old Age
timbulnya perbedaan perlakuan terhadap hak pensiun Security) of employees with classification as follows:
(Jaminan Hari Tua) pegawai dengan pengelompokan
sebagai berikut:
1. Kategori I: 1. Category I:
Pegawai yang berusia ≥ 50 tahun dan mempunyai Employees with age of ≥ 50 years and has work tenure
masa kerja ≥ 10 tahun, dipensiunkan sebagai PNS of ≥ 10 years, retired as a civil servant, is entitled to a
dengan mendapat hak pensiun dari PT Taspen. pension from PT Taspen.
2. Kategori II: 2. Category II:

Pegawai yang berusia ≤ 50 tahun dan mempunyai Employees with age of ≤ 50 years and has work tenure
masa kerja ≥ 10 tahun, diperbantukan untuk kemudian of ≥ 10 years. Seconded for late dismissed as a civil
diberhentikan sebagai PNS dengan mendapat hak servant is entitled to obtain pension from PT Taspen.
pensiun dari PT Taspen.
70
24. LIABILITAS IMBALAN KERJA (lanjutan) 24. EMPLOYEE BENEFITS LIABILITY (continued)
Program Imbalan Kerja Bagi Karyawan (lanjutan) Employee Benefits Program for Employees (continued)
3. Kategori III: 3. Category III:
Pegawai yang berusia ≤ 50 tahun dan mempunyai Employees with age of ≤ 50 years and has work tenure
masa kerja ≤ 10 tahun diberhentikan dengan hormat of ≤ 10 years dismissed with honor as a civil servant is
sebagai PNS tanpa hak pensiun dari PT Taspen. Mulai not entitled to obtain pension from PT Taspen. Starting
tahun 2004, karyawan kategori III ini diikutsertakan 2004, employees in category III are included in the Old
dalam program Asuransi Kesejahteraan Hari Tua pada Age Welfare insurance program at PT Asuransi
PT Asuransi Jiwasraya (Persero) dengan Pola Manfaat Jiwasraya (Persero) with Pattern Defined Benefit. The
Pasti. Masa kerja pegawai dihitung penuh mulai period of employment is fully counted from the start date
tanggal bekerja di LPND BULOG sampai dengan of work in LPND BULOG until retirement (56 years).
pensiun (56 tahun).
4. Kategori IV: 4. Category IV:

Pegawai yang mulai bekerja setelah status Employee who started work after BULOG’s change
kelembagaan BULOG berubah menjadi Perum dan status to Perum and are included in the Old Age Welfare
diikutsertakan dalam program Asuransi insurance program at PT Asuransi Jiwasraya (Persero).
Kesejahteraan Hari tua pada PT Asuransi Jiwasraya
(Persero).
Perum BULOG menyelenggarakan program pensiun Perum BULOG has defined benefit pension plan which the
manfaat pasti yang sumber pendanaannya berasal dari tiap source of funding comes from each employee at 8% of the
karyawan sebesar 8% dari gaji pokok karyawan terdiri dari basic salary of employees consisting of THT contributions at
iuran THT 3,25% dan iuran JHT 4,75% dan jika terjadi 3.25% and JHT contributions at 4.75% and in case of
kekurangan dana (unfunded) akan ditanggung oleh Perum shortage of funds (unfunded), the shortage will be borne by
BULOG termasuk beban jasa masa lalu. Sesuai dengan Perum BULOG, including past service cost. In accordance
Undang- Undang Ketenagakerjaan No. 13 Tahun 2003 with Employment Act No. 13 of 2003 dated March 25, 2003,
tanggal 25 Maret 2003, Perum BULOG berkewajiban Perum BULOG is obliged to cover the shortfall of pension
menutupi kekurangan pembayaran pensiun bila program payments when program is insufficient
yang ada sekarang belum mencukupi.
Tabel berikut ini merangkum komponen-komponen atas The following tables summarize the components of
beban imbalan kerja bersih yang diakui dalam laporan laba employee benefits expense recognized in the consolidated
rugi konsolidasian dan jumlah yang disajikan dalam laporan profit of loss and comprehensive income and the amounts
posisi keuangan konsolidasian sebagai liabilitas imbalan recognized in the consolidated statement of financial position
kerja berdasarkan penilaian aktuaria yang dilakukan oleh as employee benefits liability as determined by an
aktuaris independen PT Jasa Aktuaria Praptasentosa independent actuary PT Jasa Aktuaria Praptasentosa
Gunajasa berdasarkan laporannya pada tanggal 18 Januari Gunajasa in its report dated January 18, 2019 for 2018 and
2019 untuk tahun 2018 dan tanggal January 18, 2018 for 2017.
18 Januari 2018 untuk tahun 2017.
Jumlah yang diakui dalam laporan posisi keuangan The amounts of employee benefits liability recognized in
adalah sebagai berikut: the statements of financial position are determined as
follows:
2018 2017
Nilai kini liabilitas 974.935.575.799 995.289.251.767 Present value of obligation

Nilai wajar aset program (815.081.541.473 ) (721.374.158.864 ) Fair value of plan assets
Liabilitas imbalan kerja 159.854.034.326 273.915.092.903 Employee benefits liability
Perhitungan beban manfaat karyawan yang diakui dalam Employee benefits expenses recognized in profit or loss are
laporan laba rugi adalah sebagai berikut: as follows:
2018 2017
Biaya jasa kini 85.017.861.085 103.387.035.777 Current service cost

Biaya jasa lalu 18.700.465.377 89.947.602 Past service cost
Biaya bunga atas nilai kini liabilitas 69.434.118.257 47.291.850.200 Interest expense of obligation
Penghasilan bunga dari Interest incomet
aset program (50.496.191.120 ) (47.174.399.293 ) from plan assets
Biaya bunga atas pembatasan aset - 29.256.689 Interest cost of plan asset ceiling
Total beban manfaat karyawan 122.656.253.599 103.623.690.975 Total employee benefits expense
71
Mutasi pengukuran kembali liabilitas imbalan kerja sebagai The movement in remeasurement of employee benefit
berikut: liability are as follows:
2018 2017
Saldo awal (502.752.808.850 ) (274.291.123.181 ) Beginning balance

Pengukuran kembali pada
penghasilan komprehensif Remeasurement in
lain: other comprehensive income:
Dampak perubahan Effect of changes in
asumsi keuangan 133.664.132.266 (77.118.424.632 ) financial assumptions
Dampak penyesuaian
pengalaman 23.634.523.951 (166.560.824.050 ) Effect of experience adjustments
Keuntungan/(Kerugian) aktuarial Actuarial gain on asset
atas aset program 11.082.909.376 14.798.217.128 program
Dampak perubahan batas atas aset - 419.345.885 Effect of changes on assets
Saldo akhir (334.371.243.257 ) (502.752.808.850 ) Ending balance
Mutasi nilai kini liabilitas adalah sebagai berikut: Movements in present value of obligation is as follows:
2018 2017

Biaya jasa kini 85.017.861.085 103.387.035.777 Current service cost
Biaya bunga 69.434.118.257 47.291.850.200 Interest cost
Biaya jasa lalu 18.700.465.377 89.947.602 Past service cost
Pembayaran (36.207.464.470 ) (30.181.421.848 ) Payment
Kerugian aktuaria (157.298.656.217 ) 243.679.248.682 Actuarial loss
Mutasi nilai wajar aset program adalah sebagai berikut: The movement in the fair value of plan assets is as follows:
2018 2017

Penghasilan bunga 50.496.191.120 47.174.399.293 Interest income
Iuran perusahaan 37.121.482.359 31.744.463.218 Contribution
Keuntungan/(Kerugian) aktuaria 11.082.909.376 14.798.217.128 Actuarial gain
Imbalan kerja yang dibayarkan oleh aset
program (4.993.200.246 ) (1.334.911.357 ) Employee benefits paid by program assets
72
Rekonsiliasi perubahan (aset)/kewajiban yang diakui dalam Reconciliation of changes (assets) / liabilities recognized in
laporan posisi keuangan adalah sebagai berikut: the statement of financial position are as follows:
2018 2017

Beban yang diakui dalam laporan laba rugi 122.656.253.599 103.594.434.286 Expenses in profit or loss
Beban/(Pendapatan) yang diakui dalam Expenses/(Income) in
penghasilan komprehensif lain (168.381.565.593 ) 228.490.942.358 other comprehensive income
Iuran (37.121.482.359 ) (31.744.463.218 ) Contribution
Imbalan kerja yang dibayarkan Employee benefits paid
oleh Perum BULOG (31.214.264.224 ) (28.846.510.491 ) by Perum BULOG
Analisis sensitivitas kuantitatif untuk asumsi yang signifikan A quantitative sensitivity analysis for significant assumptions
pada tanggal 31 Desember 2018 sebagai berikut: as of December 31, 2018 is as follows:
1% Kenaikan/ 1% Penurunan/
1% Increase 1% Decrease
Tingkat diskonto: Discount rate:

Dampak kewajiban manfaat Effect on present value
pasti bersih (83.794.569.572 ) 98.175.041.146 benefit obligation
Tingkat kenaikan gaji: Increase salary:
Dampak kewajiban manfaat Effect on present value
pasti neto 92.281.599.522 (80.366.995.262 ) benefit obligation
Analisa sensitivitas didasarkan pada perubahan atas satu The sensitivity analyses are based on a change in an
asumsi aktuarial dimana asumsi lainnya dianggap konstan. assumption while holding all other assumptions constant. In
Dalam prakteknya, hal ini jarang terjadi dan perubahan practice, this is unlikely to occur, and changes in some of the
beberapa asumsi mungkin saling berkorelasi. Dalam assumptions may be correlated. When calculating the
perhitungan sensitivitas kewajiban imbalan pasti atas sensitivity of the defined benefit obligation to significant
asumsi actuarial utama, metode yang sama (perhitungan actuarial assumptions the same method (present value of the
nilai kini kewajiban imbalan pasti dengan menggunakan defined benefit obligation calculated with the projected unit
metode projected unit credit di akhir periode) telah credit method at the end of the reporting period) has been
diterapkan seperti dalam penghitungan kewajiban pensiun applied as when calculating the pension liability recognized
yang diakui dalam laporan posisi keuangan within the statement of financial position
Jatuh tempo kewajiban manfaat pasti pada tanggal The maturity of defined benefits obligation as of December
31 Desember 2018 adalah sebagai berikut. 31, 2018 is as follows:
2018
Dalam waktu 12 bulan berikutnya Within the next 12 months

(periode laporan (The next annual reporting
periode berikutnya) 93.875.647.953 period)
Antara 2 dan 5 tahun 188.861.088.571 Between 2 and 5 years
Di atas 20 tahun 2.868.561.090.686 Beyond 20 years
Durasi rata-rata kewajiban manfaat pasti adalah 19,49 The average duration of the defined benefits obligation is
tahun. 19,49 years
Asumsi dasar yang digunakan dalam menentukan liabilitas The principal assumptions used in determining employee
imbalan kerja adalah sebagai berikut: benefits liability are as follows:
2018 2017
Tingkat diskonto 8,5% 7% Discount rate

Tingkat kenaikan gaji 8% 8% Salary increment rate
Tingkat mortalita TMI 2011 TMI 2011 Mortality rate
Tingkat cacat 10% TMI 2011 10% TMI 2011 Disability rate
Usia pensiun normal 56 tahun/ years 56 tahun/ years Normal retirement age
73
25. SALDO DAN TRANSAKSI DENGAN PIHAK YANG 25. BALANCES AND TRANSACTIONS WITH RELATED
BERELASI PARTIES
Dalam kegiatan usaha normal, Perum BULOG dan Entitas In the normal course of business, Perum BULOG and its
Anak melakukan transaksi keuangan dengan pihak-pihak Subsidiaries engage in financial transactions with related
yang berelasi, dimana transaksi-transaksi tersebut parties, such as bank and deposit placement and working
merupakan penempatan bank dan deposito serta pinjaman capital loans.
modal kerja.
a. Bank a. Cash in banks
2018 2017
Bank Cash in banks

PSO PSO
PT Bank Negara Indonesia (Persero) Tbk 330.210.306.097 829.329.166 PT Bank Negara Indonesia (Persero) Tbk
PT Bank Mandiri (Persero) Tbk 228.391.558 216.351.094 PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia (Persero) Tbk 545.125.775.746 519.206.325.626 PT Bank Negara Indonesia (Persero) Tbk
PT Bank Mandiri (Persero) Tbk 9.340.083.179 624.624.293 PT Bank Mandiri (Persero) Tbk
Total 5.800.328.289.293 6.513.433.461.388 Total
Persentase dari total aset 13,35% 22,18% Percentage to total assets
b. Deposito b. Time deposits
2018 2017
Rupiah Rupiah
PT Bank Negara Indonesia (Persero) Tbk 45.200.000.000 72.200.000.000 PT Bank Negara Indonesia (Persero) Tbk

Total 1.209.317.086.518 1.667.813.673.863 Total
74
BERELASI (lanjutan) PARTIES (continued)
c. Deposito yang dijaminkan c. Restricted deposits
2018 2017
Deposito yang dijaminkan Restricted deposits
Rupiah Rupiah
(Persero) Tbk - 13.160.000 (Persero) Tbk
(Persero) Tbk - 3.359.904.000 (Persero) Tbk
Total 312.174.239.470 100.811.801.728 Total
d. Bank hasil penjualan d. Sales proceeds in banks
2018 2017
Bank hasil penjualan Sales proceeds in banks
PT Bank Rakyat Indonesia PT Bank Rakyat Indonersia
PT Bank Mandiri (Persero) Tbk 4.213.274.693 4.717.627.193 PT Bank Mandiri (Persero) Tbk
Total 943.559.399.187 143.935.573.541 Total

e. Piutang usaha e. Trade receivables
2018 2017
Pemerintah 1.771.767.803.370 791.196.530.505 Government

BUMN 81.592.343.450 227.899.385.402 BUMN
Total 1.853.360.146.820 1.019.095.915.907 Total
f. Utang bank jangka pendek f. Short-term bank loans
2018 2017
PT Bank Negara Indonesia (Persero) Tbk 12.599.312.993.768 3.815.351.365.253 PT Bank Negara Indonesia (Persero) Tbk
Total 29.299.642.266.067 13.191.747.878.000 Total
Persentase dari total liabilitas 89,77% 74,43% Percentage to total liabilities
75
BERELASI (lanjutan) PARTIES (continued)
g. Utang bank jangka panjang g. Long-term bank loans
2018 2017
Persentase dari total liabilitas 2,66% 5,01% Percentage to total liabilities
Sifat transaksi dengan pihak berelasi adalah sebagai Nature of transactions with related parties are as follows:
berikut:
Pihak-pihak yang berelasi / Jenis hubungan / Jenis transaksi pihak berelasi /

Related parties Type of relationship Nature of related party transactions
PT Bank Rakyat Indonesia (Persero) Tbk Kepemilikan melalui pemerintah Giro, deposito, dan pinjaman / Demand,
pusat/ Ownership through the deposits, time deposits, and loans
Central Government of the
Republik of Indonesia
PT Bank Negara Indonesia (Persero) Tbk Kepemilikan melalui pemerintah Giro, deposito, dan pinjaman / Demand,
PT Bank Mandiri (Persero) Tbk Kepemilikan melalui pemerintah Giro, deposito, dan pinjaman / Demand,
Pemerintah / Government Kepemilikan melalui pemerintah Penjualan dan Utang / Sales and Payable
pusat/ Ownership through the
26. EKUITAS 26. EQUITY
2018 2017

Defisit (1.373.357.302.105 ) (450.128.334.770 ) Deficit
Kepentingan non pengendali (92.211.089.958 ) (54.102.149.389 ) Non-controlling interest
Total 10.805.766.283.312 11.641.266.002.504 Total
Berdasarkan Keputusan Menteri Keuangan According to Minister of Finance Decree. 182/KMK.06/2010

No. 182/KMK.06/2010 tanggal 30 April 2010, menetapkan dated April 30, 2010, it was decided that the value of state
nilai kekayaan yang belum ditetapkan statusnya pada Perum assets with undetermined status in Perum Bulog amounting
BULOG sebesar Rp 492.570.916.433 sebagai penyertaan to Rp 492,570,916,433 is to be part of state capital
modal negara. Dengan demikian penyertaan modal negara contribution. As a result, the government capital increased to
pada Perum BULOG meningkat menjadi Rp 6,847,135,795,560 in 2010.
Rp 6.847.135.795.560 pada tahun 2010.
Berdasarkan Peraturan Pemerintah Republik Indonesia Based on Government Regulation No. 70 dated
No. 70 tahun 2016 tanggal 29 Desember 2016, December 29, 2016, it has been resolved that there is an
menetapkan nilai penambahan penyertaan modal Negara additional government capital in Perum BULOG amounted to
pada Perum BULOG sebesar Rp 2.000.000.000.000. Rp 2,000,000,000,000.
76
26. EKUITAS (lanjutan) 26. EQUITY (continued)

Berdasarkan Peraturan Pemerintah Republik No. 75 tanggal Based on Government Regulation No. 75 dated
30 Desember 2016, menetapkan pos APBN sebesar December 30, 2016, it has been resolved that there is an
Rp 675.250.887.482 menjadi nilai penambahan penyertaan additional government capital in Perum BULOG amounted to
modal Negara pada Perum BULOG. Rp 675,250,887,482.
27. PENJUALAN 27. SALES
Rincian penjualan adalah sebagai berikut: The details of sales are as follows:
2018 2017
PSO PSO
Beras 18.162.453.581.252 25.073.428.403.119 Rice
Karung 385.072.032 92.599.969 Sack
18.162.838.653.284 25.073.521.003.088
Komesial Commercial
Gula pasir 4.584.971.030.180 2.133.731.845.171 Sugar
Daging 3.733.907.827.716 3.283.695.107.665 Beef
Beras 1.554.390.999.656 1.728.961.098.025 Rice
Jagung 203.496.480.425 624.082.472.170 Corn
Sewa aset (Catatan 13) 49.686.361.712 44.203.082.228 Rental of assets (Note 13)
Jasa angkutan 32.701.185.112 37.313.156.979 Freight services
Telur 26.486.696.383 2.434.073.702 Egg
Bawang 18.963.282.519 24.835.883.514 Onion
Terigu 9.532.994.732 1.539.044.917 Wheat
UB Jastasma 532.020.826 95.857.239 UB Jastasma
Gabah 244.500.000 477.500.000 Grain
Cabai 16.799.000 200.546.600 Chili
Pakan ternak - 2.257.200.000 Feeds
UB BULOGmart - 1.144.998.586 UB BULOGmart
Kedelai - 353.140.000 Soybean
Lain-lain 2.821.300.969 1.338.873.160 Others
10.273.770.955.731 7.936.850.315.738
Total 28.436.609.609.015 33.010.371.318.826 Total
Berdasarkan Surat Menteri Keuangan Based on the letter of the Minister of Finance
No. S-301/MK.02/2014 perihal penetapan margin fee Perum No. S-301/MK.02/2014 dated May 19, 2014 concerning the
BULOG tanggal 19 Mei 2014, ditetapkan sebesar determination of Perum BULOG's margin fee, it is set at
Rp 50.00/Kg sesuai dengan penyaluran rastra yang terjadi. Rp 50.00/kg per rastra actual distribution.
Berdasarkan Pasal 66 Undang-undang No. 19 Tahun 2003 Based on Article 66 of Law No. 19 of 2003 on State-Owned
tentang BUMN dan Pasal 65 Peraturan Pemerintah (PP) Enterprises and Article 65 of Government Regulation (PP)
No. 45 tahun 2005 serta sesuai surat BUMN no. 45 year 2005 and according to letter of BUMN
No. S-274/MBU/05/2017 tanggal 4 Mei 2017 dalam No. S-274/MBU/05/2017 dated May 4, 2017 in
melaksanakan penugasan stabilisasi harga gula, Perum implementing the sugar price stabilization assignment,
BULOG menghitung margin fee sebesar Rp 500/kg atau Perum BULOG calculates a margin fee of Rp 500 /kg or an
rata-rata 3% sampai dengan 4% dari harga pokok komoditi average of 3% to 4% of the cost of sugar commodities in
gula sesuai dengan kebijakan startegis manajemen Perum accordance with management strategic policy Perum
BULOG dalam hal mengelolaan komoditas pangan pokok. BULOG's in terms of managing staple food commodities
77
28. BEBAN POKOK PENDAPATAN 28. COST OF GOODS SOLD
Rincian harga pokok pendapatan usaha adalah sebagai The details of the cost of goods sold are as follows:
berikut:
2018 2017
PSO PSO
Beras 14.288.950.446.800 19.820.178.147.017 Rice
Karung 345.895.093 295.456.062 Sack
14.289.296.341.893 19.820.473.603.079
Gula pasir 3.643.399.347.879 1.617.690.069.784 Sugar
Daging 3.415.982.919.905 2.814.616.652.041 Beef
Beras 1.392.998.726.638 1.487.690.725.663 Rice
Jasa angkutan 1.285.206.389.628 1.450.730.404.532 Freight services
Jagung 191.989.669.458 517.272.863.551 Corn
UB Ujastasma 44.214.913.670 41.967.939.802 UB Ujastasma
Telur 25.230.987.432 2.338.277.694 Egg
Terigu 7.539.463.580 1.445.869.563 Wheat
Bawang 15.108.516.679 23.808.916.877 Onion
Gabah 229.241.200 467.128.500 Grain
UB Opaset 16.503.472 - UB Opaset
Cabai 15.100.000 188.489.742 Chili
Pakan ternak - 2.224.181.075 Feeds
UB BULOGmart - 1.080.658.458 UB BULOGmart
Kedelai - 296.566.063 Soybean
Lain-lain 2.848.967.583 1.759.142.164 Others
10.074.512.352.509 8.010.340.554.056
Total 24.363.808.694.402 27.830.814.157.135 Total
Beban pokok penjualan gula pasir per 31 Desember 2018 The cost of goods sold for sugar for the year end
dan 2017 termasuk beban penyusutan aset tetap masing- December 31, 2018 include a depreciation of fixed assets of
masing sebesar Rp 63.899.142.313 dan 26.807.918.255 Rp 63,899,142,313 and Rp 26,807,918,255, respectively
(Catatan 12). (Note 12).
29. BEBAN USAHA 29. OPERATING EXPENSES
a. Beban umum dan administrasi a. General and administrative expenses
2018 2017
Pegawai 1.480.862.991.223 1.602.871.748.037 Employees

Kantor 714.753.827.474 842.846.374.864 Office
Pajak 156.650.944.743 237.465.686.965 Taxes
Penyisihan dan penyusutan 125.344.279.084 138.017.386.981 Provision and depreciation
Total 2.477.612.042.524 2.821.201.196.847 Total
1) Beban pegawai 1) Employee expenses
2018 2017
Kesejahteraan 584.797.110.883 756.662.943.170 Welfare

Tunjangan 535.301.805.860 488.638.679.834 Allowances
Gaji dan Honor 358.637.588.373 356.061.880.671 Salaries and honoranium
Kesehatan 835.594.804 721.570.139 Health care
Lainnya 1.290.891.303 786.674.223 Others
78
29. BEBAN USAHA (lanjutan) 29. OPERATING EXPENSES (continued)
a. Beban umum dan administrasi (lanjutan) a. General and administrative expenses (continued)
2) Beban kantor 2) Office expenses
2018 2017
Pemeliharaan 338.655.288.309 438.891.191.241 Maintenance

Sewa 95.800.313.532 94.500.421.983 Rent
Operasional 89.103.881.946 103.888.241.823 Operational
Keperluan kantor 80.687.706.934 82.959.250.462 Office necessities
Rapat/ Seminar 49.878.294.742 75.149.217.486 Meetings/ Seminars
Program kemitraan bina Corporate social
lingkungan 25.324.475.019 13.014.619.102 responsibility
Pendidikan dan pelatihan 18.304.330.637 17.948.592.722 Education and training
Penelitian dan pengembangan 2.018.587.737 6.009.031.187 Research and development
Lainnya 14.980.948.618 10.485.808.858 Others
3) Beban pajak 3) Taxes expense
2018 2017
Pajak penghasilan: Income taxes:

Pasal 4 (2) 3.729.426.801 4.662.107.761 Article 4 (2)
Pasal 21 101.747.806.868 61.489.673.168 Article 21
Pasal 22 911.466 43.003.763.356 Article 22
Pasal 23 16.653.360.980 3.607.967.881 Article 23
Pasal 25 - 21.740.004 Article 25
Pasal 19 - 121.986.369.149 Article 19
Pajak pertambahan nilai 34.519.438.628 2.694.065.646 Value Added Tax
4) Penyisihan dan Penyusutan 4) Provision and Depreciation
2018 2017
Beban penurunan nilai Allowance for impairment losses

Piutang usaha (Catatan 6) 2.955.838.896 20.865.918.520 Trade receivables (Note 6)
Piutang lainnya (Catatan 7) 8.617.027.942 8.539.911.780 Other receivables (Note 7)
Persediaan (Catatan 10) 18.648.844.786 - Inventories (Note 10)
Beban penyusutan Depreciation

aset tetap (Catatan 12) of fixed assets (Note 12)
Bangunan 51.632.510.641 45.245.193.880 Buildings
Mesin 6.729.341.499 36.603.398.380 Machineries
Kendaraan 12.496.165.198 11.158.648.284 Vehicles
Inventaris 22.236.463.076 14.040.738.352 Equipment
Beban penyusutan Depreciation

properti investasi (Catatan 13) 1.040.700.077 1.097.893.217 of investment properties (Note 13)
Amortisasi Amortization
aset takberwujud (Catatan 14) 987.386.969 465.684.568 of intangible assets (Note 14)
Total 125.344.279.084 138.017.386.981 Total
79
29. BEBAN USAHA (lanjutan) 29. OPERATING EXPENSES (continued)
b. Beban eksploitasi b. Exploitation expenses
2018 2017
Eksploitasi umum 162.819.823.732 143.353.286.305 General exploitation

Movement 85.796.873.839 210.590.918.756 Movement
Susut 86.093.686.270 51.144.024.482 Shrinkage
Total 334.710.383.841 405.088.229.543 Total
c. Beban penjualan c. Selling expenses
2018 2017
Operasional rastra 120.239.458.236 229.402.138.744 Rastra operations

Operasional komersial 25.783.107.156 4.355.397.194 Commercial operations
Uitslag beras/ gabah 19.129.114.316 36.720.723.104 Uitslag rice/ grain
Promosi lainya 1.280.711.236 1.040.510.129 Other promotion
Uitslag gula pasir 146.687.787 82.687.010 Uitslag sugar
UB BULOGmart - 11.717.376 BULOGmart
Total 166.579.078.731 271.613.173.557 Total
30. PENDAPATAN (BEBAN) LAIN-LAIN 30. OTHER INCOME (EXPENSE)
a. Pendapatan lain-lain a. Other income
2018 2017
Pendapatan keuangan Finance income
Interest income from current and
Jasa giro dan bunga deposito 328.071.395.357 338.781.311.355 time deposits
Pendapatan lain-lain Other income

Beras/gabah 69.666.839.835 67.979.261.187 Rice/grain
Selisih kurs 45.944.615.137 2.799.252.439 Foreign exchange gain
Karung 11.306.752.728 4.002.838.052 Sack
Laba penjualan properti investasi Gain on sale of investment properties
(Catatan 13) 4.262.590.523 - (Note 13)
Laba penjualan aset tetap Gain on sale of fixed asset
(Catatan 12) 2.526.715.724 17.575.663.330 (Note 12)
Pendapatan sewa aset 1.336.657.417 1.434.922.310 Rent income
Gula pasir 876.981.935 100.196.175.581 Sugar
Bagian keuntungan entitas asosiasi Share in profit of associate
(Catatan 16) 497.801.569 52.956.227 (Note 16)
Jasa - 10.926.109 Service
Lainnya 300.198.220.344 141.602.876.392 Others
436.617.175.212 335.654.871.627
Total 764.688.570.569 674.436.182.982 Total
80
30. PENDAPATAN (BEBAN) LAIN-LAIN (lanjutan) 30. OTHER INCOME (EXPENSES) (continued)
b. Beban lain-Lain b. Other expenses
2018 2017
Beban keuangan Finance costs

Bunga bank 1.927.191.558.104 1.754.998.803.277 Bank interest
Biaya bank 222.680.375.560 163.756.772.407 Bank charges
Jasa giro dan deposito 48.285.959.690 50.405.558.628 Current account and time deposits
Provisi - 5.000.000 Provision

Beban lain-lain Other expenses
Beras/gabah 865.710.931.422 234.280.552.938 Rice/grain
Rugi selisih kurs 25.365.676.799 487.690 Foreign exchange loss
Gula pasir 2.136.488.978 1.113.234.242 Sugar
Jasa 337.156.764 148.770.320 Service
Karung 212.104.635 3.929.555.453 Sack
Klaim - 8.776.208.000 Claim
Lainnya 18.649.616.333 14.580.538.709 Others
Total 3.110.569.868.285 2.231.995.481.664 Total
Berdasarkan berita acara hasil pemeriksaan perhitungan Based on the minutes of the examination results in 2018 on
subsidi beras bagi masyarakat berpendapatan rendah tahun the calculation of rice subsidy for low-income communities
2017 oleh BPK, jumlah subsidi yang harus dikembalikan in Year 2017 by BPK, Perum BULOG should return to the
Perum BULOG kepada Pemerintah sebesar Government amounting to Rp 834,824,264,977 which is
Rp 834.824.264.977 dibebankan sebagai “Beban lain-lain - charged to "Other expenses - Rice/grain” in profit or loss in
Beras/gabah” pada laporan laba rugi tahun 2018. 2018.
Berdasarkan berita acara hasil pemeriksaan perhitungan Based on the minutes of the examination results in 2017 on
subsidi beras bagi masyarakat berpendapatan rendah tahun the calculation of rice subsidy for low-income communities
2016 oleh BPK, jumlah subsidi yang dapat ditagihkan in Year 2016 by BPK, the amount of subsidies that can be
adalah sebesar Rp 138.114.658.451, hasil verifikasi subsidi billed is Rp 138,114,658,451, the result of verification of
sebelum audit BPK sebesar Rp 328.008.428.288 sehingga subsidy before BPK audit is Rp 328,008,428,288, the
selisih sebesar Rp 189.893.770.998 dibebankan sebagai difference of Rp 189,893,770,998 is charged as "Other
“Beban lain-lain - Beras/gabah” pada laporan laba rugi expenses - Rice/grain” in profit or loss in 2017.
tahun 2017.
81
31. MANAJEMEN RISIKO KEUANGAN 31. FINANCIAL RISK MANAGEMENT
Dalam aktivitas usahanya sehari-hari, Perum BULOG dan In their daily business activities, Perum BULOG and its
Entitas Anak dihadapkan pada berbagai risiko. Risiko utama Subsidiaries are exposed to risks. The main risks facing by
yang dihadapi Perum BULOG dan Entitas Anak yang timbul Perum BULOG and its Subsidiaries arising from its financial
dari instrumen keuangan adalah risiko kredit, risiko pasar instruments are credit risk, market risk (i.e. interest rate risk
(yaitu tingkat suku bunga dan risiko nilai tukar mata uang and foreign exchange rate risk) and liquidity risk. The core
asing), dan risiko likuiditas. Fungsi utama dari manajemen function of Perum BULOG and its Subsidiaries's risk
risiko adalah untuk mengidentifikasi seluruh risiko kunci, management is to identify all key risks for Perum BULOG
mengukur risiko- risiko ini dan mengelola posisi risiko sesuai and its Subsidiaries, measure these risks and manage the
dengan kebijakan dan tata cara Perum BULOG dan Entitas risk positions in accordance with its policies and Perum
Anak. Perum BULOG dan Entitas Anak secara rutin BULOG and its Subsidiaries's risk appetite. Perum BULOG
menelaah kebijakan dan sistem manajemen risiko untuk and its Subsidiaries regularly review its risk management
menyesuaikan dengan perubahan di pasar, produk, dan policies and systems to reflect changes in markets, products,
praktik pasar terbaik. and best market practice.
1. Risiko kredit 1. Credit risk
Risiko kredit adalah risiko kerugian keuangan yang Credit risk is the risk of suffering financial loss, should
timbul jika pelanggan Perum BULOG dan Entitas Anak any of Perum BULOG and its Subsidiaries customers fail
gagal memenuhi kewajiban kontraktualnya kepada to fulfill their contractual obligations to Perum BULOG
Perum BULOG dan Entitas Anak. and its Subsidiaries.
Pada tanggal 31 Desember 2018 dan 2017 eksposur As of December 31, 2018 and 2017, the maximum
Perum BULOG dan Entitas Anak maksimum terhadap Perum BULOG and its Subsidiaries's exposure of the
risiko kredit mendekati nilai tercatat bersih dengan credit risk approximates the net carrying amounts of the
rincian sebagai berikut: following:
2018 2017
Bank dan setara kas 7.569.062.975.018 8.996.736.968.633 Cash in banks and cash equivalents
Piutang usaha - neto 1.966.871.836.362 1.112.393.041.623 Trade receivables - net
Piutang lain-lain - neto 51.529.895.643 20.640.572.334 Other receivables - net
Aset lancar lainnya 229.830.296.788 401.960.291.951 Other current assets
Aset lain-lain Other assets
Bank hasil penjualan 981.740.352.016 158.023.866.143 Sale proceeds in banks
Deposito yang dijaminkan 522.174.239.470 312.538.316.995 Restricted time deposits
Uang tunai yang dijaminkan - 722.388.184 Restricted cash
Total 11.321.209.595.297 11.003.015.445.863 Total
Tabel berikut memberikan kualitas kredit dan analisis The following table provides the credit quality and age
umur aset keuangan Perum BULOG dan Entitas Anak analysis of financial assets of the Perum BULOG and its
sesuai dengan peringkat kredit debitur pada tanggal Subsidiaries according to the Perum BULOG and its
31 Desember 2018 dan 2017: Subsidiaries's credit rating of counterparties as of
December 31, 2018 and 2017:
31 Desember 2018 / December 31, 2018
Telah
Belum Telah jatuh tempo belum mengalami jatuh tempo dan
jatuh tempo penurunan nilai/ mengalami
dan tidak ada Past Due but not impaired penurunan
penurunan nilai/ nilai/
Neither Past < 30 hari/ 30-90 hari/ > 90 hari Past due and Total/
Due nor Impaired < 30 days 30-90 days > 90 days Impaired Total
Cash in banks and

Bank dan setara kas 7.569.062.975.018 - - - - 7.569.062.975.018 cash equivalents
Piutang usaha 1.966.871.836.362 - - - 263.273.538.198 2.230.145.374.560 Trade receivables
Piutang lain-lain 51.529.895.643 - - - 65.384.360.238 116.914.255.881 Other receivables
Aset lancar lainnya 229.830.296.788 - - - - 229.830.296.788 Other current assets
Aset lain-lain Other assets
Restricted time
Deposito yang dijaminkan 522.174.239.470 - - - - 522.174.239.470 deposits
Sale proceeds in
Bank hasil penjualan 981.740.352.016 - - - - 981.740.352.016 banks
Total 11.321.209.595.297 - - - 328.657.898.436 11.649.867.493.733 Total
82
31. MANAJEMEN RISIKO KEUANGAN (lanjutan) 31. FINANCIAL RISK MANAGEMENT (continued)
1. Risiko kredit (lanjutan) 1. Credit risk (continued)
31 Desember 2017 / December 31, 2017
Telah
Belum Telah jatuh tempo belum mengalami jatuh tempo dan
jatuh tempo penurunan nilai/ mengalami
dan tidak ada Past Due but not impaired penurunan
penurunan nilai/ nilai/
Neither Past < 30 hari/ 30-90 hari/ > 90 hari Past due and Total/
Due nor Impaired < 30 days 30-90 days > 90 days Impaired Total
Cash in banks and

Bank dan setara kas 8.996.736.968.633 - - - - 8.996.736.968.633 cash equivalents
Piutang usaha 1.112.393.041.623 - - - 260.702.360.475 1.373.095.402.098 Trade receivables
Piutang lain-lain 20.640.572.334 - - - 57.081.850.827 77.722.423.161 Other receivables
Aset lancar lainnya 401.960.291.951 - - - - 401.960.291.951 Other current assets
Aset lain-lain - Other assets
Restricted time
Deposito yang dijaminkan 312.538.316.995 - - - - 312.538.316.995 Deposits
Sale proceeds in
Bank hasil penjualan 158.023.866.143 - - - - 158.023.866.143 Banks
Uang tunai yang dijaminkan 722.388.184 722.388.184 Restricted cash
Total 11.003.015.445.863 - - - 317.784.211.302 11.320.799.657.165 Total
Kualitas kredit instrumen keuangan dikelola oleh Perum The credit quality of financial instruments is managed by
BULOG dan Entitas Anak menggunakan peringkat Perum BULOG and its Subsidiaries using internal credit
kredit internal. Instrumen keuangan diklasifikasikan ratings. Financial instruments classified under "neither
sebagai "Belum jatuh tempo atau diturunkan past due nor impaired" includes high grade credit quality
nilainya" meliputi instrumen dengan kualitas kredit tinggi instruments because there was few or no history of
karena ada sedikit atau tidak ada pengalaman default on the agreed terms based on the letter of
kegagalan (default pada kesepakatan berdasarkan authorization, letter of guarantee or promissory note.
surat kuasa, surat jaminan atau promissory note . "past due but not impaired" are items with history of
"Telah jatuh tempo tetapi belum diturunkan nilainya" frequent default nevertheless the amount due are still
adalah akun-akun dengan pengalaman kegagalan collectible. Lastly, "past due and impaired" are those that
(default) yang sering namun demikian jumlah are long outstanding and has been provided with
terhutang masih tertagih. Terakhir, "Telah jatuh tempo allowance for impairment loss on receivables.
dan diturunkan nilainya" adalah akun yang telah lama
belum dilunasi dan telah dibentuk penyisihan kerugian
penurunan nilai atas piutang.
Manajemen yakin akan kemampuan Perum BULOG dan Management is confident in its ability to continue to
Entitas Anak untuk mengendalikan dan memelihara control and sustain minimal exposure of credit risk to
eksposur risiko kredit pada tingkat yang minimum Perum BULOG and its Subsidiaries with set sufficient
dengan membentuk penyisihan penurunan nilai untuk allowance for impairment losses to cover incurred losses
menutupi kemungkinan kerugian atas tidak tertagihnya arising from uncollectible receivables based on historical
piutang berdasarkan data historis kerugian yang ada. loss.
2. Risiko pasar 2. Market risk
Risiko pasar adalah risiko dimana nilai wajar dari arus Market risk is the risk that the fair value of future cash
kas masa depan dari suatu instrumen keuangan akan flows of a financial instrument will fluctuate because of
berfluktuasi karena perubahan harga pasar. Perum changes in market prices. Perum BULOG and its
BULOG dan Entitas Anak dipengaruhi oleh risiko Subsidiaries are exposed to market risks, in particular,
pasar, terutama risiko suku bunga dan nilai tukar mata interest rate risk and foreign currency exchange risk.
uang asing.
Risiko Tingkat Suku Bunga Interest Market Risk
Risiko tingkat suku bunga adalah risiko dimana nilai Interest rate risk is the risk that the fair value or future
wajar atau arus kas masa depan dari suatu instrumen cash flows of a financial instrument will fluctuate
keuangan berfluktuasi karena perubahan suku bunga because of changes in market interest rates. The
pasar. Pengaruh dari risiko perubahan suku bunga exposure to the risk of changes in market interest rates
pasar berhubungan dengan pinjaman dari Perum relates primarily to Perum BULOG and its
BULOG dan Entitas Anak yang dikenakan suku bunga Subsidiaries's debt obligations with floating interest
mengambang. rates.
83
2. Risiko pasar (lanjutan) 2. Market risk (continued)
Risiko Tingkat Suku Bunga (lanjutan) Interest Market Risk (continued)
Perum BULOG dan Entitas Anak memonitor secara Perum BULOG and its Subsidiaries closely monitors
ketat fluktuasi suku bunga pasar dan ekspektasi pasar the market interest rate fluctuation and market
sehingga dapat mengambil langkah-langkah yang expectation so it can take necessary actions benefited
paling menguntungkan Perum BULOG dan Entitas most to Perum BULOG and its Subsidiaries in due time.
Anak secara tepat waktu. Manajemen tidak The management currently does not consider the
menganggap perlunya melakukan swap suku bunga necessity to enter into any interest rate swaps.
pada saat ini.
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to a
perubahan yang wajar dari tingkat suku bunga atas reasonably possible change in interest rates on the
saldo pinjaman yang dikenakan suku bunga floating interest loans, with all other variables held
mengambang, dimana semua variabel lainnya constant, to the income (loss) before tax for the year
dianggap konstan, terhadap laba sebelum beban pajak ended December 31, 2018:
konsolidasian untuk tahun yang berakhir tanggal
31 Desember 2018:
Kenaikan (Penurunan) Efek Terhadap

Tahun/ dalam basis pon laba sebelum pajak/
Year Increase (decrease) in basis points Effect on income (loss) before tax
2018 +100 293.049.549.905

-100 (293.049.549.905)
Risiko Nilai Tukar Mata Uang Asing Foreign Exchange Risk
Risiko nilai tukar mata uang adalah risiko yang timbul Foreign currency exchange risk is the risk that arises
dari perubahan nilai tukar Rupiah sebagai mata uang from the changes of exchange rate of Rupiah as the
fungsional terhadap mata uang asing, terutama Dolar functional currency against foreign currency, especially
USD. US Dollar.
Risiko nilai tukar mata uang asing adalah risiko dimana Foreign currency exchange rate risk is the risk that the
nilai wajar atau arus kas masa datang dari suatu fair value or future cash flows of a financial instrument
instrumen keuangan akan berfluktuasi akibat will fluctuate because of changes in foreign exchange
perubahan nilai tukar mata uang asing. Eksposur rates. Perum BULOG and its Subsidiaries' exposure to
Perum BULOG dan Entitas Anak terhadap fluktuasi exchange rate fluctuations comes from the exchange
nilai tukar berasal dari selisih nilai tukar antara Rupiah rate difference between Rupiah and US Dollar. The
dan US Dolar. Bagian signifikan dari risiko nilai tukar significant portion of the foreign currency exchange risk
mata uang asing merupakan kontribusi secara tunai is contributed by US Dollar denominated cash in banks.
dalam mata uang US Dolar pada bank. Efek dari The effect to a reasonable possible change in the US
perubahan yang wajar dari US Dolar ke Rupiah, Dollar against Rupiah, with all others variables held
dengan semua variabel lain dianggap konstan, di constant, is considered by management to be
anggap tidak material oleh manajemen. immaterial.
Perum BULOG dan Entitas Anak memonitor secara Perum BULOG and its Subsidiaries closely monitor the
ketat fluktuasi dari nilai tukar mata uang asing foreign exchange rate fluctuation and market
sehingga dapat mengambil langkah- langkah yang expectation so it can take necessary actions benefited
paling menguntungkan Perum BULOG dan Entitas most to Perum BULOG and its Subsidiaries in due time.
Anak pada waktu yang tepat. Manajemen tidak The management currently does not consider the
menganggap perlu untuk melakukan transaksi necessity to enter into any currency forward/ swaps.
forward/ swap mata uang asing saat ini.
84
2. Risiko pasar (lanjutan) 2. Market risk (continued)
Risiko Nilai Tukar Mata Uang Asing (lanjutan) Foreign Exchange Risk (continued)
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to a
perubahan yang wajar dari nilai tukar Rupiah terhadap reasonably possible change in the US Dollar exchange
Dolar Amerika, dimana semua variabel lain konstan, rate against Rupiah, with all other variables held
terhadap laba sebelum beban pajak konsolidasi untuk constant, to the Company and its Subsidiaries income
tahun yang berakhir tanggal 31 Desember 2018 dan (loss) before tax for the years ended December 31,
2017: 2018 and 2017:
Kenaikan (Penurunan) Efek Terhadap

Tahun/ dalam kurs Rp laba sebelum pajak/
Year Increase (decrease) in IDR Rate Effect on income before tax
2018 4% 13.002.900.994
(4%) (13.002.900.994)
2017 1% 2.326.586.083
(1%) (2.326.586.083)
3. Risiko likuiditas 3. Liquidity risk
Risiko likuiditas adalah risiko dimana Perum BULOG Liquidity risk is the risk that Perum BULOG and its
dan Entitas Anak tidak bisa memenuhi liabilitas pada Subsidiaries are unable to meet its obligations when
saat jatuh tempo. Manajemen melakukan evaluasi dan they fall due. The management evaluates and monitors
pengawasan yang ketat atas arus kas masuk (cash-in) cash-in flows and cash-out flows to ensure the
dan kas keluar (cash-out) untuk memastikan availability of fund to settle the due obligation. In
tersedianya dana untuk memenuhi kebutuhan general, fund needed to settle the current and long-
pembayaran liabilitas yang jatuh tempo. Secara term liabilities is obtained from sales activities to
umum, kebutuhan dana untuk pelunasan liabilitas customers.
jangka pendek maupun jangka panjang yang jatuh
tempo diperoleh dari penjualan kepada pelanggan.
Tabel dibawah merupakan profil jatuh tempo liabilitas The following table summarizes the maturity profile of
keuangan Grup berdasarkan pembayaran kontraktual the Company’s financial liabilities based on contractual
yang tidak terdiskonto pada tanggal 31 Desember undiscounted payments as of December 31, 2018 and
2018 dan 2017: 2017:
2018
Antara 3
Kurang bulan dan 1 dan 2 dan Lebih
dari 1 tahun/ 2 tahun/ 5 tahun/ dari
3 bulan/ Between Between Between 5 tahun/
Less than 3 months 1 and 1 and Over Total
3 months and1 year 2 years 5 years 5 years Total
Utang bank jangka pcndek 29.306.598.030.548 - - - - 29.306.598.030.548 Short-term bank loans

Utang usaha - - - - Trade payables
Pihak ketiga 1.686.520.643.956 - - - - 1.686.520.643.956 Third parties
Biaya yang masih harus dibayar 542.577.859.781 - - - - 542.577.859.781 Accrued expenses
Utang bank jangka panjang 1.048.209.727 74.301.879.291 81.220.335.000 390.500.000.000 344.424.000.000 891.494.424.018 Long-term bank loans
Utang pembiayaan konsumen 531.437.126 1.594.311.379 2.125.748.506 2.481.379.837 - 6.732.876.848 Consumer financing payable
Total liabilitas keuangan 31.537.276.181.138 75.896.190.670 83.346.083.506 392.981.379.837 344.424.000.000 32.433.923.835.151 Total financial liabilities
2017
Antara 3
Kurang bulan dan 1 dan 2 dan Lebih
dari 1 tahun/ 2 tahun/ 5 tahun/ dari
3 bulan/ Between Between Between 5 tahun/
Less than 3 months 1 and 1 and Over Total
3 months and1 year 2 years 5 years 5 years Total
Utang bank jangka pcndek 13.238.833.649.479 - - - - 13.238.833.649.479 Short-term bank loans

Utang usaha Trade payables
Pihak ketiga 2.611.653.190.322 - - - - 2.611.653.190.322 Third parties
Biaya yang masih harus dibayar 663.919.254.114 - - - - 663.919.254.114 Accrued expenses
Utang bank jangka panjang 419.500.000 1.258.500.000 88.634.305.002 265.902.915.006 531.805.830.012 888.021.050.020 Long-term bank loans
Utang pembiayaan konsumen 97.341.418 292.024.253 162.152.323 - - 551.517.994 Consumer financing payable
Total liabilitas keuangan 16.514.922.935.333 1.550.524.253 88.796.457.325 265.902.915.006 531.805.830.012 17.402.978.661.929 Total financial liabilities
85
4. Pengelolaan Modal 4. Capital management
Tujuan utama pengelolaan modal Perum BULOG dan The primary objective of Perum BULOG and its
Entitas Anak adalah untuk memastikan pemeliharaan Subsidiaries's capital management is to ensure that it
peringkat kredit yang tinggi dan rasio modal yang sehat maintains a strong credit rating and healthy capital
untuk mendukung usaha dan memaksimalkan imbalan ratios in order to suppoert its business and maximize
bagi pemegang saham. shareholder value.
Manajemen Perum BULOG dan Entitas Anak Perum BULOG and its Subsidiaries manage its capital
mengelola struktur permodalan dan melakukan structure and makes adjustments to it, in light of
penyesuaian, berdasarkan perubahan kondisi changes in economic conditions. No changes were
ekonomi. Tidak ada perubahan yang dibuat dalam made in the objectives, policies or processes during the
tujuan, kebijakan, atau proses selama periode yang periods presented.
disajikan.
Kebijakan Perum BULOG dan Entitas Anak adalah Perum BULOG and its Subsidiaries' policy is to
untuk menjaga rasio modal yang sehat dalam rangka maintain a healthy capital structure in order to secure
untuk mengamankan pembiayaan pada biaya yang access to finance at a reasonable cost.
wajar.
Tabel dibawah ini merangkum jumlah modal yang The following table summarizes the total capital
dipertimbangkan oleh Perusahaan pada tanggal considered by Perum BULOG and its Subsidiaries as
31 Desember 2018 dan 2017: of December 31, 2018 and 2017.
2018 2017

Utang bank jangka pendek 29.306.598.030.548 13.238.833.649.479 Short-term bank loans
Utang bank jangka panjang 869.769.313.879 888.021.050.020 Long-term bank loans
Total 42.698.754.027.469 26.649.241.382.541 Total
32. ASET DAN LIABILITAS DALAM MATA UANG ASING 32. MONETARY ASSETS DENOMINATED IN FOREIGN
CURRENCY
Saldo aset moneter dalam mata uang asing serta Monetary assets denominated in foreign currency and its
konversinya ke dalam mata uang rupiah dengan Rupiah equivalent using the exchange rate set by Bank
menggunakan kurs yang ditetapkan oleh Bank Indonesia Indonesia at each end of the reporting period is as follows:
masing-masing pada tanggal akhir periode pelaporan
adalah sebagai berikut:
2018 2017
Mata uang asing/ Ekuivalen rupiah/ Mata uang asing/ Ekuivalen rupiah/
Foreign currency Rupiah equivalent Foreign currency Rupiah equivalent
Aset Assets
Setara kas AS$/USD 23,803,139 344.693.254.498 AS$/USD 23,106,493 313.046.767.164 Cash in banks
Deposito yang
dijaminkan AS$/USD - - AS$/USD 248,000 3.359.904.000 Restricted deposits
Aset Neto 344.693.254.498 316.406.671.164 Net Asset
86
32. ASET DAN LIABILITAS DALAM MATA UANG ASING 32. MONETARY ASSETS DENOMINATED IN FOREIGN
(lanjutan) CURRENCY (continued)
Kurs rata-rata mata uang asing pada tanggal 25 Pebruari The exchange rate as of February 25, 2019 is Rp 14,007 to
2019 adalah sebesar Rp 14.007 untuk 1 Dolar AS. Kurs USD 1. This was calculated based on the average buying
tersebut dihitung berdasarkan rata-rata kurs beli dan jual and selling rates of Bank notes and/ or transaction
uang kertas asing dan/ atau kurs transaksi yang ditetapkan exchange rates last quoted by Bank Indonesia on that date.
oleh Bank Indonesia pada tanggal tersebut. Jika aset dan If the monetary asset in foreign currency as of
liabilitas dalam mata uang asing pada tanggal December 31, 2018 was translated using the middle rate as
31 Desember 2018 dijabarkan dengan menggunakan kurs of February 25, 2019, the net assets would decrease by
rata-rata pada tanggal 25 Pebruari 2019, maka aset neto approximately Rp 11,282,687,841.
akan turun sebesar Rp 11.282.687.841.
33. KELOMPOK INSTRUMEN KEUANGAN 33. FINANCIAL INSTRUMENTS BY CATEGORY
Tabel di bawah ini menyajikan perbandingan atas nilai The table sets forth the carrying values and estimated fair
tercatat dengan nilai wajar dari instrumen keuangan Perum values of the Perum BULOG and its Subsidiaries' financial
BULOG dan Entitas Anak yang tercatat dalam laporan instruments that are carried in the financial statements:
keuangan:
2018 2017
Nilai tercatat/ Nilai wajar/ Nilai tercatat/ Nilai wajar/

Carrying value Fair value Carrying value Fair value
Aset Keuangan Financial Assets

Pinjaman dan piutang Loans and receivables
Kas dan setara kas 7.575.059.891.881 7.575.059.891.881 9.006.511.660.936 9.006.511.660.936 Cash and cash equivalents
Piutang usaha - neto 1.966.871.836.362 1.966.871.836.362 1.112.393.041.623 1.112.393.041.623 Trade receivables - net
Piutang lain-lain - neto 51.529.895.643 51.529.895.643 20.640.572.334 20.640.572.334 Other receivables - net
Aset lancar lainnya 229.830.296.788 229.830.296.788 401.960.291.951 401.960.291.951 Other current assets
Aset lain-lain 1.508.002.007.769 1.508.002.007.769 474.669.061.430 474.669.061.430 Other assets
Total 11.331.293.928.443 11.331.293.928.443 11.016.174.628.274 11.016.174.628.274 Total
Liabilitas Keuangan Financial Liabilities

Liabilitas keuangan yang Financial liabilities
dicatat berdasarkan biaya measured at
perolehan diamortisasi amortized cost
Utang bank jangka pendek 29.306.598.030.548 29.306.598.030.548 13.238.833.649.479 13.238.833.649.479 Short-term bank loans
Utang usaha Trade payables-
Pihak ketiga 1.686.520.643.956 1.686.520.643.956 2.611.653.190.322 2.611.653.190.322 third parties
Biaya yang masih harus dibayar 542.577.859.781 542.577.859.781 663.919.254.114 663.919.254.114 Accrued expenses
Utang bank jangka panjang 869.769.313.879 869.769.313.879 888.021.050.020 888.021.050.020 Long-term bank loans
Utang pembiayaan konsumen 5.480.121.030 5.480.121.030 551.517.994 551.517.994 Consumer financing lease
Total 32.410.945.969.194 32.410.945.969.194 17.402.978.661.929 17.402.978.661.929 Total
Berikut metode dan asumsi yang digunakan untuk estimasi The following method and assumption used to estimate fair
nilai wajar: values:
Nilai wajar aset lancar dan liabilitas jangka pendek The fair value of current assets and current liabilities
mendekati nilai tercatat karena jangka waktu jatuh tempo approximate their carrying amounts largely due to the short-
yang singkat atas instrumen keuangan tersebut. term maturities of these instruments.
Nilai wajar dari utang bank yang dikenakan bunga fluktuatif Fair value of long-term loans, approximately their carrying
mendekati nilai tercatat karena tingkat suku bunganya values largely due to their interest rates are frequently
dinilai ulang secara berkala. repriced.
87
34. SUBSIDI BERAS RASTRA/BANSOS RASTRA, 34. RASTRA RICE SUBSIDY/BANSOS RASTRA,
CADANGAN BERAS PEMERINTAH DAN CADANGAN GOVERNMENT RICE RESERVES AND FOOD PRICE
STABILISASI HARGA PANGAN STABILIZATION FUND
Sesuai dengan Peraturan Presiden No. 137 Tahun 2015 Based on President Regulation No. 137 Year 2015 as
sebagaimana telah diubah dengan Peraturan Presiden amended by President Regulation No. 66 Year 2016,
No. 66 Tahun 2016 perihal Rincian Anggaran Pendapatan regarding the details of APBN for Fiscal Year 2016,
dan Belanja Negara Tahun Anggaran 2016, HPB Government rice purchase price to Perum BULOG in 2016,
Pemerintah kepada Perum BULOG tahun 2016 ditetapkan rice purchase price is set at Rp 8,865/Kg, with calculation of
sebesar Rp 8.865/Kg, dengan perhitungan harga jual raskin the sale price paid by raskin beneficiaries at Rp 1,600/Kg.
yang dibayarkan oleh penerima manfaat sebesar
Rp 1.600/Kg.
Sesuai dengan Peraturan Presiden No. 66 Tahun 2016 Based on President Regulation No. 66 Year 2016 as
sebagaimana telah diubah dengan Peraturan Presiden amended by President Regulation No. 97 Year 2017,
No. 97 Tahun 2017 perihal Rincian Anggaran Pendapatan regarding the details of APBN for Fiscal Year 2017,
dan Belanja Negara Tahun Anggaran 2017, HPB Government rice purchase price to Perum BULOG in 2017,
Pemerintah kepada Perum BULOG tahun 2017 ditetapkan rice purchase price is set at Rp 9,220/Kg, with calculation of
sebesar Rp 9.220/Kg, dengan perhitungan harga jual raskin the sale price paid by raskin beneficiaries at Rp 1,600/Kg.
yang dibayarkan oleh penerima manfaat sebesar
Rp 1.600/Kg.
Sesuai dengan keputusan Menteri Sosial Republik Based on Ministry of Social Service No. 9/HUK/2018,
Indonesia No. 9/HUK/2018 tentang penyaluran beras bagi regarding distribution of rice for low-income people (Bansos
masyarakat berpendapatan rendah (Bansos Rastra) tahun Rastra) in 2018 by Perum BULOG, the price is set at
2018 oleh Perum BULOG sebesar Rp 10.000/Kg. Rp 10,000/Kg.
Berdasarkan surat dari Menteri Badan Usaha Milik Negara Based on a letter from Decree of State Enterprises Minister
No. 118/MBU/02/2018 tentang penugasan Perum BULOG No. 118/MBU/02/2018 concerning the assignment of Perum
dalam rangka pengadaan Gabah/Beras dengan fleksibilitas BULOG in order to procure Grain/Rice with a price flexibility
harga sebesar 20% diatas HPP Gabah/Beras. of 20% above Grain/Rice COGS.
88
35. INFORMASI SEGMEN USAHA 35. SEGMENT INFORMATION
2018
Segmentasi Sebelum Eliminasi/ Eliminasi/
Segment Before Elimination Elimination
Keterangan Total Description
Komersial/ Komersial/
PSO PSO
Commercial Commercial
Penjualan Sales
Eksternal 18.162.838.653.284 10.273.770.955.731 - - 28.436.609.609.015 External
Internal - 1.614.489.127.739 - 1.614.489.127.739 - Internal
Total Penjualan 18.162.838.653.284 11.888.260.083.470 - 1.614.489.127.739 28.436.609.609.015 Total Sales
Harga Pokok Penjualan Cost of Goods Sold

Internal 19.925.344.491 111.335.000.000 19.925.344.491 111.335.000.000 - Internal
Total Harga Pokok Penjualan 14.309.221.686.384 10.185.847.352.509 19.925.344.491 111.335.000.000 24.363.808.694.402 Total Cost of Goods Sold
Laba (Rugi) Kotor 3.853.616.966.900 1.702.412.730.961 (19.925.344.491) 1.503.154.127.739 4.072.800.914.613 Gross Profit
Beban Usaha Operating Expenses

Beban Umum dan Administrasi General and administrative expenses
Beban Pegawai 908.281.920.536 572.581.070.687 - - 1.480.862.991.223 Employee expenses
Beban Kantor 423.673.554.409 291.080.273.065 - - 714.753.827.474 Office expenses
Beban Pajak 86.245.659.221 70.405.285.522 - - 156.650.944.743 Tax expenses
Beban Penyisihan dan Penyusutan 51.725.947.147 73.618.331.937 - - 125.344.279.084 Provision and depreciation expenses
Total Beban Umum dan Administrasi 1.469.927.081.313 1.007.684.961.211 - - 2.477.612.042.524 Total General and Administrative Expenses
Beban Eksploitasi Exploitation Expenses

Eksternal 132.433.054.141 202.277.329.700 - - 334.710.383.841 External
Internal 1.014.707.029.181 144.016.832.733 1.014.707.029.181 144.016.832.733 - Internal
Total Beban Eksploitasi 1.147.140.083.322 346.294.162.433 1.014.707.029.181 144.016.832.733 334.710.383.841 Total Exploitation Expenses
Beban Penjualan Selling Expenses

Internal 324.504.921.334 - 324.504.921.334 - - Internal
Total Biaya Penjualan 463.873.493.887 27.210.506.178 324.504.921.334 - 166.579.078.731 Total Selling Expenses
Total Biaya Usaha 3.080.940.658.522 1.381.189.629.822 1.339.211.950.515 144.016.832.733 2.978.901.505.096 Total Operating Expenses
Laba (Rugi) Usaha 772.676.308.378 321.223.101.139 (1.359.137.295.006) 1.359.137.295.006 1.093.899.409.517 Income from Operations
Pendapatan (Beban) Lain-lain Other Income (Expenses)

Pendapatan 580.471.716.170 224.884.669.247 12.167.814.848 28.500.000.000 764.688.570.569 Income
Beban 1.500.587.398.765 1.650.650.284.368 40.667.814.848 3.110.569.868.285 Expenses
Total Pendapatan (Beban) Lain-lain (920.115.682.595) (1.425.765.615.121) 12.167.814.848 (12.167.814.848) (2.345.881.297.716) Other Income (Expenses) - net
Laba (Rugi) Sebelum Pajak Penghasilan (147.439.374.217) (1.104.542.513.982) (1.346.969.480.158) 1.346.969.480.158 (1.251.981.888.199) Income (Loss) Before Income Tax
Manfaat (Beban) Pajak Penghasilan Income Tax Benefit (Expense)

Pajak kini - (18.853.392.250) - - (18.853.392.250) Current
Penyesuaian SKP (60.548.500.663) - - - (60.548.500.663) Adjusment in respect of the prior years
Pajak Tangguhan 387.756.309.127 (18.158.421.402) - - 369.597.887.725 Deferred
Total Manfaat (Beban) Pajak Penghasilan 327.207.808.464 (37.011.813.652) - - 290.195.994.812 Income Tax Benefit (Expense) - net
Laba (Rugi) Neto 179.768.434.247 (1.141.554.327.634) (1.346.969.480.158) 1.346.969.480.158 (961.785.893.387) Net Income (Loss)
PENDAPATAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Item yang tidak akan Item not to be reclassified
direklasifikasikan ke laba rugi pada to profit or loss in
periode berikutnya: subsequent period:
Pengukuran kembali atas liabilitas imbalan Re-measurement of employment
kerja 166.528.922.358 1.852.643.235 - - 168.381.565.593 benefits liability
Pajak penghasilan terkait (41.632.230.589) (463.160.809) - - (42.095.391.398) Related income tax
TOTAL LABA (RUGI) KOMPREHENSIF 304.665.126.016 (1.140.164.845.208) (1.346.969.480.158) 1.346.969.480.158 (835.499.719.192) TOTAL COMPREHENSIVE INCOME (LOSS)
89
35. INFORMASI SEGMEN USAHA (lanjutan) 35. SEGMENT INFORMATION (continued)
2017
Segementasi Sebelum Eliminasi/

Segment Before Elimination Eliminasi/ Elimination
Komersial/ Komersial/
Keterangan PSO Commercial PSO Commercial Total Description
Sales Sales
Internal - 1.925.586.557.377 - 1.925.586.557.377 - Internal
Total Penjualan 25.073.521.003.088 9.862.436.873.115 - 1.925.586.557.377 33.010.371.318.826 Total Sales
Harga Pokok Penjualan Cost of Goods Sold

Internal 15.190.396.735 191.509.079.991 15.190.396.735 191.509.079.991 - Internal
Total Harga Pokok Penjualan 19.835.663.999.815 8.201.849.634.046 15.190.396.735 191.509.079.991 27.830.814.157.135 Total Cost of Goods Sold
Laba (Rugi) Kotor 5.237.857.003.273 1.660.587.239.069 (15.190.396.735) 1.734.077.477.386 5.179.557.161.691 Gross Profit
Beban Usaha Operating Expenses

Beban Umum dan Administrasi General and administrative expenses
Beben pegawai 1.170.367.339.185 432.504.408.852 - - 1.602.871.748.037 Employee expenses
Beban kantor 600.052.841.343 242.793.533.521 - - 842.846.374.864 Office expenses
Beban pajak 173.532.568.388 63.933.118.577 - - 237.465.686.965 Tax expenses
Beban penyisihan dan penyusutan 64.276.899.431 73.740.487.550 - - 138.017.386.981 Provision and depreciation expenses
Total Beban Umum dan Administrasi 2.008.229.648.347 812.971.548.500 - - 2.821.201.196.847 Total General and Administrative
Expenses
Beban Eksploitasi Exploitation Expenses

Internal 840.789.321.751 438.889.242.963 1.279.678.564.714 - - Internal
Total Beban Eksploitasl 1.087.470.326.446 597.296.467.811 1.279.678.564.714 - 405.088.229.543 Total Exploitation Expenses
Beban Penjualan Selling Expenses

Internal 439.208.515.940 - 439.208.515.940 - - Internal
Total Biaya Penjualan 699.809.855.261 11.011.834.236 439.208.515.940 - 271.613.173.557 Total Selling Expenses
Total Biaya Usaha 3.795.509.830.054 1.421.279.850.547 1.718.887.080.654 - 3.497.902.599.947 Total Operating Expenses
Laba (Rugi) Usaha 1.442.347.173.219 239.307.388.522 (1.734.077.477.389) 1.734.077.477.386 1.681.654.561.744 Income from Operations
Pendapatan (Beban) Laln-lain Other Income (Expenses)

Pendapatan 263.343.928.188 452.353.178.551 - 41.260.923.757 674.436.182.982 Income
Biaya 1.224.348.721.442 1.042.827.683.979 - 35.180.923.757 2.231.995.481.664 Expenses
Total Pendapatan (Beban) lain-lain (961.004.793.254) (590.474.505.428) - 6.080.000.000 (1.557.559.298.682) Other Income (Expenses) - net
Laba (Rugi) Sebelum Pajak Penghasilan 481.342.379.965 829.781.893.950 (1.734.077.477.389) 1.740.157.477.386 124.095.263.062
Income (Loss) Before Income Tax
Manfaat (Beban) Pajak Penghasilan Income Tax Benefit (Expense)

Pajak Kini (6.251.016.635) (37.660.419.250) - - (43.911.435.885) Current
Penyesuaian SKP 180.542.664.254 - - - 180.542.664.254 Adjusment SKP
Pajak Tangguhan 559.732.160.441 10.521.841.678 - - 570.254.002.119 Deferred
Total Manfaat (Beban) Pajak Penghasilan 734.023.808.060 (27.138.577.572) - - 706.885.230.488 Income Tax Benefit (Expense) - net
Laba (Rugi) Neto 1.215.366.188.025 802.643.316.378 (1.734.077.477.389) 1.740.157.477.386 830.980.493.550 Net Income (Loss)
PENDAPATAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Item yang tidak akan Item not to be reclassified
direklasifikasikan ke laba to profit or loss in
rugi pada periode berikutnya: subsequent period:
Pengukuran kernbali atas Re0measurement of employment
liabilitas imbalan kerja - setelah pajak (170.687.193.411) (659.070.841) - - (171.346.264.252) benefits liability - net of tax
TOTAL LABA KOMPEHENSIF 1.044.678.994.614 801.984.245.537 (1.734.077.477.389) 1.740.157.477.386 659.634.229.298 TOTAL COMPREHENSIVE INCOME (LOSS)
90
36. PERISTIWA SETELAH PERIODE PELAPORAN 36. EVENTS AFTER THE REPORTING PERIOD
Berdasarkan Surat PT Mandiri Pangan Sejahtera Based on Letter of PT Mandiri Pangan Sejahtera
No. 016/MPS-BULOG/I/ 2019, PT Mandiri Pangan Sejahtera No. 016/MPS-BULOG/I/2019, PT Mandiri Pangan Sejahtera
setuju untuk melanjutkan pembelian 231.154 saham yang agreed to continue the purchase of the 231,154 shares
mewakili 70% kepemilikan saham di PT Gendhis Multi Manis representing 70% share ownership in PT Gendhis Multi
(GMM) dari Perum BULOG dengan Manis (GMM) from Perum BULOG for Rp 95,000,000,000.
Rp 95.000.000.000. PT Mandiri Pangan Sejahtera juga PT Mandiri Pangan Sejahtera also agreed to pay GMM’s debt
setuju untuk membayar hutang GMM kepada Bulog sebesar to Bulog amounting to Rp 333,894,535,557 including
Rp 333.894.535.557 termasuk bunga. interest.
37. INFORMASI TAMBAHAN UNTUK LAPORAN ARUS KAS 37. SUPPLEMENTARY INFORMATION FOR CASHFLOWS
Rekonsiliasi Liabilitas Neto dan Aktivitas Pendanaan Reconciliation of Liabilities Arising from Financing Activities
Arus kas/ Transaksi non-kas/

Non-cash
2017 Cash flows transaction 2018
Utang bank jangka Short term bank

pendek 13.238.833.649.479 16.067.764.381.069 - 29.306.598.030.548 loans
Utang bank jangka Long term bank
panjang 888.021.050.020 (18.251.736.141 ) - 869.769.313.879 loans
Utang pembiayaan Consumer
konsumen 551.517.994 4.928.603.036 - 5.480.121.030 financing
14.127.406.217.493 16.054.441.247.964 - 30.181.847.465.457
38. REKLASIFIKASI AKUN 38. RECLASSIFICATION OF ACCOUNTS
Beberapa akun dalam laporan keuangan untuk tahun yang Certain accounts in the financial statements for the year
berakhir pada tanggal 31 Desember 2017 telah direklasifikasi ended December 31, 2017 have been reclassified to conform
untuk menyesuaikan dengan penyajian laporan keuangan with the presentation of the financial statements for the year
untuk tahun yang berakhir pada tanggal 31 Desember 2018. ended December 31, 2018.
Rincian reklasifikasi akun adalah sebagai berikut: The details of the accounts reclassification are as follows:
Sebelum Setelah
Reklasifikasi/ Reklasifikasi/
Before Reklasifikasi/ After
Reclassification Reclassification Reclassification
Laporan Posisi Keuangan Consolidated Statement

Konsolidasian of Financial Position
Aset tetap - neto 3.350.174.005.549 5.976.023.201 3.356.150.028.750 Fixed assets - net
Aset lain-lain 480.645.084.631 (5.976.023.201 ) 474.669.061.430 Other assets
Laporan Laba Rugi dan Consolidated Statement

Penghasilan Komprehensif Lain of Profit or Loss and Other
Konsolisasian Comprehensive Income
Penjualan 32.879.654.714.916 130.716.603.910 33.010.371.318.826 Sales
Beban pokok penjualan 27.802.247.096.716 28.567.060.419 27.830.814.157.135 Cost of goods sold
General and
Beban umum dan administrasi 2.848.009.115.102 (26.807.918.255 ) 2.821.201.196.847 administrative expenses
Pendapatan lain-lain 466.371.475.537 (130.716.603.910 ) 335.654.871.627 Other income
Beban lain-lain 264.588.489.516 (1.759.142.164 ) 262.829.347.352 Other expenses
91
39. STANDAR AKUNTANSI BARU 39. NEW ACCOUNTING STANDARDS
Standar baru, amandemen dan interpretasi yang telah New standards, amendments and interpretations issued but
diterbitkan, namun belum berlaku efektif untuk tahun buku not yet effective for the financial year beginning January 1,
yang dimulai pada 1 Januari 2018 yang mungkin berdampak 2018 that may have certain impact on the consolidated
pada laporan keuangan konsolidasian.adalah sebagai financial statements are as follows:
berikut:
Efektif berlaku pada atau setelah 1 Januari 2019: Effective on or after January 1, 2019:
- Amandemen PSAK 24 - “Imbalan Kerja: Kurtailmen, - Amendment to PSAK 24 - “Employee Benefits:

atau Penyelesaian Program” Curtailment, or Program Settlement”
- PSAK 22 (Penyesuaian Tahunan 2018) - “Kombinasi - PSAK 22 (Annual Improvement 2018) “Business
Bisnis” Combination”
- PSAK 26 (Penyesuaian Tahunan 2018) - “Biaya - PSAK 26 (Annual Improvement 2018) - “Borrowing
Pinjaman” Cost”
- PSAK 46 (Penyesuaian Tahunan 2018) - “Pajak - PSAK 46 (Annual Improvement 2018) - “Income Tax”
Penghasilan”
- ISAK 33 - “Transaksi Valuta Asing dan Imbalan di - ISAK 33 - “Foreign Currency Transactions and
Muka”; Advance Consideration”;
- ISAK 34 - “Ketidakpastian dalam Perlakuan Pajak - ISAK 34 - “Uncertainty over Income Tax Treatments”.
Penghasilan”.
Efektif berlaku pada atau setelah 1 Januari 2020: Effective on or after January 1, 2020:
- PSAK 71 - “Instrumen Keuangan”; - PSAK 71 - “Financial Instruments”;

- PSAK 72 - “Pendapatan dari Kontrak dengan - PSAK 72 - “Revenue from Contracts with Customers”;
Pelanggan”; - PSAK 73 - “Leases”;
- PSAK 73 - “Sewa”;
- Amandemen PSAK 15 - “Investasi pada Entitas - Amendments to PSAK 15 “Investments in Associates

Asosiasi dan Ventura Bersama tentang Kepentingan and Joint Ventures Long-term Interests in Associates
Jangka Panjang pada Entitas Asosiasi dan Ventura and Joint Ventures”
Bersama”;
- Amandemen PSAK 71 - “Instrumen Keuangan tentang - Amendments to PSAK 71 “Financial Instruments
Fitur Percepatan Pelunasan dengan Kompensasi Prepayment Features with Negative Compensation”.
Negatif”. -
Perum BULOG sedang menganalisa dampak penerapan Perum BULOG and its Subsidiaries are still assessing the
standar akuntansi dan interpretasi tersebut di atas terhadap impact of these accounting standards and interpretations
laporan keuangan konsolidasian. on the consolidated financial statements
40. INFORMASI KEUANGAN TAMBAHAN 40. SUPPLEMENTARY FINANCIAL INFORMATION
Informasi keuangan tambahan pada halaman 93 sampai The supplementary financial information on pages 93 to 98
dengan halaman 98 adalah informasi keuangan Perum represents financial information of Perum BULOG (parent
BULOG (entitas induk saja) pada tanggal 31 Desember entity only) as at December 31, 2018 and 2017 and for the
2018 dan 2017 dan untuk yang berakhir pada tanggal years the ended which presents Perum BULOG's investments
31 Desember 2018 dan 2017, yang menyajikan investasi in Subsidiaries under the cost method, as opposed to the
Perum BULOG pada Entitas Anak berdasarkan metode consolidation method.
biaya dan bukan dengan metode kosolidasian.
92
INFORMASI KEUANGAN TAMBAHAN/SUPPLEMENTARY FINANCIAL INFORMATION
PERUSAHAAN UMUM BULOG PERUSAHAAN UMUM BULOG

ENTITAS INDUK SAJA PARENT ENTITY ONLY
LAPORAN POSISI KEUANGAN STATEMENT OF FINANCIAL POSITION
2018 2017
Aset Assets
Aset Lancar Current Assets

Kas dan setara kas 7.247.480.242.379 8.829.833.432.969 Cash and cash equivalents
Piutang usaha - neto 2.629.815.838.778 1.427.360.363.124 Trade receivables - net
Piutang lain-lain - neto 47.494.256.459 11.658.890.537 Others receivable - net
Persediaan - neto 24.480.935.855.609 12.603.500.449.436 Inventories - net
Pajak dibayar di muka - 338.870.812.214 Prepaid tax
Biaya dibayar di muka 560.834.431.796 998.250.425 Prepaid expenses
Aset lancar lainnya 229.830.296.788 401.960.291.952 Other current assets
Total Aset Lancar 35.209.513.931.526 23.638.408.586.000 Total Current Assets
Aset Tidak Lancar Non-Current Assets

Aset pajak tangguhan 1.135.723.678.610 789.599.600.077 Deferred tax assets
Aset tetap - neto 2.668.211.540.217 2.337.676.889.354 Fixed assets - net
Properti investasi - neto 234.260.776.239 221.308.333.635 Investment properties - net
Aset takberwujud - neto 1.885.518.125 2.639.725.375 Intangible assets - net
Taksiran tagihan pajak penghasilan 1.436.894.318.843 621.463.151.963 Estimated claims for tax refund
Investasi pada entitas anak 177.634.000.000 177.634.000.000 Investment in its Subsidiaries
Investasi pada entitas asosiasi 30.550.757.796 30.052.956.227 Investment in associate
Aset lain-lain 1.491.400.487.273 471.162.782.500 Other assets
Total Aset Tidak Lancar 7.176.561.077.103 4.651.537.439.131 Total Non-Current Assets
Total Aset 42.386.075.008.629 28.289.946.025.131 Total Assets
93

LAPORAN POSISI KEUANGAN (lanjutan) STATEMENT OF FINANCIAL POSITION (continued)
2018 2017
Liabilitas dan Ekuitas Liabilities and Equity

Liabilitas Jangka Pendek Current Liabilities
Utang bank jangka pendek 29.208.611.525.372 13.140.833.649.389 Short-term bank loans
Utang usaha - Trade payables -
pihak ketiga 1.584.629.837.901 2.466.682.779.603 third paties
Utang pajak 25.478.119.382 4.335.044.800 Taxes payable
Biaya yang masih harus dibayar 643.377.544.026 903.291.007.173 Accrued expenses
Uang muka penjualan 19.914.156.006 16.797.174.060 Sales advances
Total Liabilitas Jangka Pendek 31.482.011.182.687 16.531.939.655.025 Total Current Liabilities
Liabilitas Jangka Panjang Non-Current Liabilities

Kewajiban imbalan kerja 153.981.745.939 268.042.116.680 Employee benefits liability
Total Liabilitas 31.635.992.928.626 16.799.981.771.705 Total Liabilities
Ekuitas Equity
Defisit (1.527.584.902.418 ) (662.806.037.226 ) Deficit
Komponen ekuitas lain 6.766.024.016 6.766.024.016 Other component of equity
Ekuitas-Neto 10.750.082.080.003 11.489.964.253.426 Equity-Net
Total Liabilitas dan Ekuitas 42.386.075.008.629 28.289.946.025.131 Total Liabilities and Equity
94

LAPORAN LABA RUGI DAN STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
2018 2017
Penjualan 28.045.855.533.999 32.843.890.042.519 Sales

Beban pokok penjualan 22.783.433.954.318 26.269.342.284.547 Cost of goods sold
Laba bruto 5.262.421.579.681 6.574.547.757.972 Gross profit
Beban usaha Operating expenses

Umum dan administrasi 2.327.037.851.373 2.663.635.321.724 General and administrative
Eksploitasi 1.412.872.845.315 1.605.947.852.140 Exploitation
Penjualan 489.677.831.779 709.794.995.653 Selling
Total beban usaha 4.229.588.528.467 4.979.378.169.517 Total operating expenses
Laba usaha 1.032.833.051.214 1.595.169.588.455 Operating income
Pendapatan (beban) lain-lain Other income (expenses)

Pendapatan keuangan 324.088.257.693 336.484.513.152 Finance income
Pendapatan lain-lain 461.424.746.064 369.710.474.280 Other income
Beban keuangan (2.102.962.840.385) (1.660.667.677.291) Finance costs
Beban lain-lain (907.369.888.239) (475.929.501.905) Other expenses
Beban lain-lain - neto (2.224.819.724.867) (1.430.402.191.764) Expenses - net
LABA (RUGI) SEBELUM PAJAK (1.191.986.673.653) 164.767.396.691 INCOME (LOSS) BEFORE TAX
MANFAAT (BEBAN) PAJAK

PENGHASILAN INCOME TAX BENEFIT (EXPENSES)
Kini - (6.251.016.635) Current
Penyesuaian atas tahun lalu (60.548.500.663) 180.542.664.254 Adjusment in respect of prior years
Tangguhan 387.756.309.124 559.732.160.441 Deferred
Manfaat Pajak Penghasilan - Neto 327.207.808.461 734.023.808.060 Income Tax Benefit- Net
LABA (RUGI) NETO (864.778.865.192) 898.791.204.751 NET INCOME (LOSS)
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME

Item yang tidak akan direklasifikasi Item that will not be reclassified
ke laba rugi pada periode to profit or loss in subsequent
berikutnya: perood:
Pengukuran kembali atas Re-measurement of employment
liabilitas imbalan kerja 166.528.922.359 (227.582.924.548) benefit liability
Pajak penghasilan terkait (41.632.230.590) 56.895.731.137 Related income tax
Penghasilan (Rugi) Komprehensif Lain Other Comprehensive Income

- Setelah Pajak 124.896.691.769 (170.687.193.411) (Loss) - Net of Tax
TOTAL COMPREHENSIVE INCOME

TOTAL LABA (RUGI) KOMPREHENSIF (739.882.173.423) 728.104.011.340 (LOSS)
95

LAPORAN PERUBAHAN EKUITAS STATEMENT OF CHANGES IN EQUITY
Tahun Yang Berakhir Pada Tanggal For The Year Ended
Penghasilan
Komponen Komprehensif
Modal Pemerintah / ekuitas lainnya / Lainnya/Other
Catatan/ Government Other component comprehensive
Notes capital Defisit/Deficit of equity loss Total/Total
Saldo per 1 Januari 2017 12.522.386.683.042 (1.561.597.241.977 ) 6.766.024.016 (205.695.222.995 ) 10.761.860.242.086 Balance as of Jnuary 1, 2017
Laba neto - 898.791.204.751 - - 898.791.204.751 Net income

Rugi komprehensif lain - - - (170.687.193.411 ) (170.687.193.411 ) Other comprehensive loss
Saldo per 31 Desember 2017 27 12.522.386.683.042 (662.806.037.226 ) 6.766.024.016 (376.382.416.406 ) 11.489.964.253.426 Balance as of December 31, 2017
Rugi neto - (864.778.865.192 ) - - (864.778.865.192 ) Net loss

Penghasilan komprehensif lain - - - 124.896.691.769 124.896.691.769 Other comprehensive income
Saldo per 31 Desember 2018 27 12.522.386.683.042 (1.527.584.902.418 ) 6 .766.024.016 (251.485.724.637 ) 10.750.082.080.003 Balance as of December 31, 2018
96
PERUSAHAAN UMUM BULOG ENTITAS INDUK SAJA PERUSAHAAN UMUM BULOG PARENT ENTITY ONLY
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
2018 2017
Arus Kas dari Aktivitas Operasi Cash Flows from Operating Activities
Laba (rugi) sebelum manfaat (beban)
pajak penghasilan (1.191.986.673.653) 164.767.396.691 Income (Loss) before income tax
Penyesuaian laba (rugi) menjadi Adjustment of income (loss) before
kas neto yang diperoleh dari income tax to net cash provided
(digunakan untuk) aktivitas operasi: by (used in) operating activities:
Penyesuaian SKLB - 180.542.664.254 Adjusment SKLB
Penyusutan properti investasi 1.040.700.077 100.162.098.905 Depreciation of investment property
Beban bunga 2.102.962.840.385 1.660.667.677.291 Interest expenses
Beban imbalan kerja 120.804.298.199 40.459.192.132 Employee benefits expenses
Laba penjualan aset (2.526.715.724) - Gain of fixed assets
Laba penjualan properti investasi (4.262.590.523) - Gain of investment properties
Penyusutan aset tetap 72.438.181.647 8.532.659.118 Depreciation of fixed assets
Amortisasi aset takberwujud 754.207.250 377.103.625 Amortization of intangible assets
Laba selisih kurs (27.266.873.410) (2.798.764.749) Gain foreign exchange
Bagian keuntungan entitas asosiasi (497.801.569) (52.956.227) Share in net income of associate entitiy
Pembayaran beban bunga (2.102.962.840.385) (1.660.667.677.291) Payment interest expense
Pembayaran pajak penghasilan - (41.496.325.113) Paid tax income
Perubahan aktivitas operasi Changes in operating

dalam aset dan liabilitas: assets and liabilities:
Piutang usaha (1.202.455.475.654) 1.253.952.668.519 Trade receivables
Piutang lain-lain (35.835.365.922) (2.149.740.886) Other receivables
Persediaan (11.877.435.406.173) 5.257.456.918.381 Inventories
Pajak dibayar di muka 338.870.812.214 (363.203.620.457) Prepaid taxes
Uang muka penjualan 3.116.981.946 51.407.983 Advance sales
Biaya dibayar di muka (559.836.181.371) 2.001.159.864 Prepaid expense
Aset lancar lainnya 172.129.995.164 (68.557.028.070) Other current assets
Taksiran tagihan pajak penghasilan (875.979.667.544) (312.325.537.436) Estimated claim for tax refund
Aset lain-lain (1.018.707.450.196) 2.091.883.720.373 Other assets
Utang usaha (882.052.941.702) 1.981.556.799.392 Trade payables
Utang pajak 21.143.074.582 - Taxes payable
Biaya yang masih harus dibayar (259.913.463.147) 137.576.078.049 Accrued expenses
Liabilitas jangka pendek lainnya - (126.734.501) Other current liabilities
Biaya L/C yang belum dilimpahkan - 1.104.752.260 L/C costs that have not been delegated
Pendapatan ditangguhkan - (165.571.368.126) Accrued income
Pembayaran imbalan kerja (68.335.746.583) - Payment employee benefits
untuk) Aktivitas Operasi (17.265.691.016.466) 10.443.772.614.579 Operating Activities
Arus Kas dari Aktivitas Investasi Cash Flows from Investing Activities
Investasi pada entitas asosiasi - (30.000.000.000) Invesment in associate entity
Perolehan aset tetap (413.578.893.081) (87.285.424.845) Acquisitions of fixed assets
Perolehan properti investasi (6.433.766.830) (97.904.821.600) Acquisitions of investment properties
Perolehan aset takberwujud (1.530.254.572) (3.016.829.000) Acquisition of intangible assets
Hasil penjualan aset 5.295.350.443 - Proceeds from sale of fixed assets
Hasil penjualan properti Proceeds from sale of investment
investasi 4.540.640.523 - properties
Kas Neto Digunakan Net Cash used in

untuk Aktivitas Investasi (411.706.923.517) (218.207.075.445) Investing Activities
97
PERUSAHAAN UMUM BULOG ENTITAS INDUK SAJA PERUSAHAAN UMUM BULOG PARENT ENTITY ONLY
LAPORAN ARUS KAS (lanjutan) STATEMENT OF CASH FLOWS (continued)
2018 2017
Arus Kas dari Aktivitas Pendanaan Cash Flows from Financing Activities
Penerimaan (pembayaran) dari utang bank 16.067.777.875.983 (7.845.952.628.192) Receipt from (payment of) bank loans
untuk) Aktivitas Pendanaan 16.067.777.875.983 (7.845.952.628.192) Financing Activities
Kenaikan (Penurunan) Neto Net Increase (Decrease)

Kas dan Setara Kas (1.609.620.064.000) 2.379.612.910.942 in Cash and Cash Equivalent
Pengaruh perubahan kurs mata uang asing Effect of foreign exchage on cash and
terhadap kas dan setara kas 27.266.873.410 2.798.764.749 cash equivalent

Awal Tahun 8.829.833.432.969 6.447.421.757.278 at Beginning of the Year

Akhir Tahun 7.247.480.242.379 8.829.833.432.969 at End of the Year
98

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PERUSAHAAN UMUM (PERUM) BULOG

DAN ENTITAS ANAK/

CONSOLIDATED FINANCIAL STATEMENTS

Daftar Isi/Table of Contents

Surat Pernyataan Direksi Directors’ Statement Letter

Laporan Auditor Independen Independent Auditors’ Report

Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss

Informasi Keuangan Tambahan ............................................ 93 - 98 ....................................... Supplementary Financial Information

PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

ASET LANCAR CURRENT ASSETS

Total Aset Lancar 35.226.556.887.253 23.624.494.468.209 Total Current Assets

ASET TIDAK LANCAR NON-CURRENT ASSETS

Total Aset Tidak Lancar 8.216.346.012.859 5.732.555.650.936 Total Non-Current Assets

TOTAL ASET 43.442.902.900.112 29.357.050.119.145 TOTAL ASSETS

PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY

LIABILITAS JANGKA PENDEK CURRENT LIABILITIES

Total Liabilitas Jangka Pendek 31.685.111.833.382 16.628.947.621.395 Total Current Liabilities

LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES

TOTAL LIABILITAS 32.637.136.616.800 17.715.784.116.641 TOTAL LIABILITIES

Total ekuitas yang dapat diatribusikan Total equity attributable to owners

EKUITAS - NETO 10.805.766.283.312 11.641.266.002.504 EQUITY – NET

PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

PENJUALAN 28.436.609.609.015 2,27 33.010.371.318.826 SALES

LABA BRUTO 4.072.800.914.613 5.179.557.161.691 GROSS PROFIT

BEBAN USAHA 2,29 OPERATING EXPENSES

Total beban usaha 2.978.901.505.096 3.497.902.599.947 Total operating expenses

LABA USAHA 1.093.899.409.517 1.681.654.561.744 OPERATING INCOME

PENDAPATAN (BEBAN) LAIN-LAIN 2,30 OTHER INCOME (EXPENSE)

Beban Lain-lain - Neto (2.345.881.297.716) (1.557.559.298.682) Other Expenses - Net

LABA (RUGI) SEBELUM PAJAK INCOME (LOSS) BEFORE INCOME

MANFAAT (BEBAN) PAJAK

LABA (RUGI) NETO (961.785.893.387) 830.980.493.550 NET INCOME (LOSS)

PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

Penghasilan (Rugi) komprehensif lain Other Comprehensive Income

TOTAL LABA (RUGI) TOTAL COMPREHENSIVE INCOME

Laba (rugi )neto yang dapat

Total laba (rugi) komprehensif Total comprehensive income

PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

Rugi neto - (923.228.967.335 ) - (923.228.967.335 ) (38.556.926.052 ) (961.785.893.387 ) Net loss

PERUSAHAAN UMUM (PERUM) BULOG PERUSAHAAN UMUM (PERUM) BULOG

Perubahan aktivitas operasi Changes in operating