PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated
169
61. IMPLEMENTATION OF QUASI REORGANIZATION Continued
The Consolidated Balance Sheets as of April 30, 2003 before and after Quasi Reorganization are as follows:
Before Quasi Reorganization
After Quasi
Reorganization ASSETS
Cash 1,846,539
1,846,539 Current accounts with Bank Indonesia
9,643,221 9,643,221
Current accounts with other banks - net 412,651
412,651 Placements with Bank Indonesia and other banks - net
7,019,538 7,019,538
Securities - net 12,734,855
12,734,855 Government bonds
150,332,380 150,332,380
Trade documents and other facilities - net 1,971,769
1,971,769 Derivative receivables - net
417,761 417,761
Loans - net 59,320,887
59,320,887 Acceptances receivables - net
2,688,233 2,688,233
Investments in shares of stock - net 122,271
122,271 Fixed assets - net
2,043,088 2,043,088
Deferred tax assets - net 2,923,968
2,923,968 Other assets - net 9,808,748
9,808,748 Total Assets
261,285,909 261,285,909
LIABILITIES AND SHAREHOLDER’S EQUITY
Other short-term liabilities 443,908
443,908 Deposits from customer 187,224,517
187,224,517 Deposits from other banks 13,790,831
13,790,831 Securities sold with agreements to repurchase
735,000 735,000
Derivative payables 13,128
13,128 Acceptances payable 2,791,637
2,791,637 Securities issued
4,053,877 4,053,877
Fund borrowings 12,658,279
12,658,279 Estimated losses on commitments and
contingencies 1,488,315
1,488,315 Accrued expenses
974,474 974,474
Taxes payable 1,091,009
1,091,009 Other liabilities
9,906,046 9,906,046
Subordinated loans 5,901,077
5,901,077 Loan capital
2,926,193 2,926,193
Total Liabilities 243,998,291
243,998,291
Minority interests in net assets of consolidated subsidiaries 3,238 3,238
SHAREHOLDER’S EQUITY
Share capital 4,251,000
4,251,000 Additional paid-in capitalagio 173,550,319
10,675,418 Differences arising from translation of foreign currency
financial statements
48,498 48,498
Unrealized gains on securities and Government Recapitalization Bonds available for sale
1,299,676 1,299,676
Premises and equipment revaluation increment 9,788
9,788 Retained earningsaccumulated losses:
Appropriated 3,155,386 1,000,000
Unappropriated 165,030,287
- 161,874,901
1,000,000 Total Shareholder’s Equity
17,284,380 17,284,380
TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY
261,285,909 261,285,909
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated
170
61. IMPLEMENTATION OF QUASI REORGANIZATION Continued
At the date of the quasi reorganization, the Bank did not eliminate appropriated retained earnings amounting to Rp1,000,000 million because the Minister of State-Owned Enterprises, as the Bank’s
shareholder, through Decision Letter No. Kep-154M-MBU2002 dated October 29, 2003 approved an increase the Bank’s issued and fully paid-up capital by Rp1,000,000 which increase would be effected
through the conversion of the balance of appropriated retained earnings to issued and fully paid-up capital. In addition, based on deed No. 2 of the Shareholder’s Meeting regarding Changes in the
Articles of Association dated June 1, 2003, prepared in front of Aulia Taufani, SH, as a replacement of Sutjipto, S.H., notary in Jakarta and Government Regulation No. 26 year 2003 dated May 29, 2003
which included the approval for the increase of the said issued and fully paid-up capital, Bank Mandiri has recorded the transfer of the balance of appropriated retained earnings of Rp1,000,000 to issued
and fully paid-up capital.
62. SUBSEQUENT EVENTS
a. Divestment of a 10 ownership interest in Bank Mandiri by the Government of the Republic of Indonesia
Based on a decision of Tim Kebijakan Privatisasi Badan Usaha Milik Negara No. Kep- 05TKP012004 dated January 19, 2004, the divestment of a 10 ownership interest in PT Bank
Mandiri Persero Tbk. by the Government of the Republic of Indonesia will be implemented in the 1st Quarter of 2004 Note 32.
b. Submission of Tax Objection Letter Surat Keberatan dated January 13, 2004 in relation to the Tax Assessment Letter SKPKB dated October 24, 2003 and a Cancellation Request Letter Surat
Gugatan in relation to the Tax Collection Enforcement Letter Surat Paksa dated December 29,
2003. On January 13, 2004, the Bank has sent a Tax Objection Letter Surat Keberatan to the tax office in
relation to the Tax Assessment Letter SKPKB dated October 24, 2003. On the same day, the Bank has also sent a Cancellation Request Letter Surat Gugatan to the tax court in relation to the Tax
Collection Enforcement Letter Surat Paksa from the Tax Office dated December 29, 2003 Note 27c.
c. Sales of
Government Bonds As of February 29, 2004 in relation to the secondary reserve requirement, the Bank entered into
Government Bond sales transactions amounting to Rp17,070,000 unaudited. As of February 29, 2004 the Bank’s secondary reserve ratio is 12.64 unaudited.
d. Government Guarantee Program of Obligations of Locally Incorporated Banks Based on Presidential Decree No.152004 dated February 27, 2004 in relation to the termination of
IBRA’s duties and its dissolution, and Minister of Finance Decree No. 84KMK.062004 dated
February 27, 2004, the Government of Republic of Indonesia established Unit Pelaksana Penjaminan Pemerintah, a new institution replacing IBRA, to continue the Government guarantee
program for obligations of locally incorporated banks Note 60.
e. Repayment Proposal on Subordinated Loan of Bank Mandiri from Bank Indonesia BI On March 9, 2004, the Bank has submitted a new proposal in relation with the settlement of
subordinated loan from BI, through its letter No. COOSPM.0602004 dated March 9, 2004.
