PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 584 14. INVESTMENTS IN SHARES continued
a. The details of investments in shares are as follows: continued In 2008, temporary investments resulted from loan restructuring through Debt Equity Swap had
been written-off because the Bank has owned the investments for more than 5 five years. This is to comply with Bank Indonesia Regulations - PBI No. 72PBI2005 dated 20 January 2005
regarding Asset Quality Rating for Commercial Banks which has been amended by Bank Indonesia Regulation - PBI No. 112PBI2009 dated 29 January 2009.
b. Investments in shares by Bank Indonesia’s collectibility:
2010 2009
2008
Current 6,233
188,898 159,773
Doubtful 1,244
- -
Loss 56
56 56
Total 7,533
188,954 159,829
Less: Allowance for impairment losses 1,285
2,106 1,656
6,248 186,848
158,173
c. Movements of allowance for impairment losses on investments in shares:
2010 2009
2008
Balance at beginning of year 2,106
1,656 73,943
Allowance during the year Note 38 614
450 339
Write-offs -
- 72,626
Others 1,435
- -
Balance at end of year 1,285
2,106 1,656
Includes effect of foreign currency translation
Management believes that the allowance for impairment losses on investments in shares is adequate.
15. POLICYHOLDERS’ INVESTMENT AND LIABILITY TO UNIT-LINKED HOLDERS
This account represents Subsidiary’s policyholders’ funds placed in unit-linked investment, with details as follow:
2010 2009
2008
Non-syariah 6,707,586
- -
Syariah 504,527
- -
7,212,113 -
-
The details of unit-linked investments non-sharia by type of contracts are as follow:
2010 2009
2008
Dynamic money 4,480,162
- -
Progressive money 2,035,431
- -
Attractive money 109,677
- -
Secure money 66,390
- -
Money market 7,797
- -
Active money 5,961
- -
Fixed money 2,168
- -
6,707,586 -
-
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 585 15. POLICYHOLDERS’ INVESTMENT AND LIABILITY TO UNIT-LINKED HOLDERS continued
The policyholders’ funds - non-sharia placed in statutory deposits as of 31 December 2010 amounted to Rp 138,500.
Included in the above policyholders’ investments in unit-linked contracts are policyholders’ fund in foreign currency amounting to USD 2,437,683.
Dynamic money This is an equity fund with underlying exposures in stocks listed on the Indonesia Stock Exchange and
money market instruments through mutual fund Schroder Dana Prestasi Plus.
Progressive money This is a balanced fund with underlying exposures in stocks and bonds listed on the Indonesia Stock
Exchange and money market instruments through mutual fund Schroder Dana Terpadu II.
Attractive money This is an equity fund with underlying exposures in stocks and bonds listed in Indonesia Stock
Exchange and money market instruments through mutual fund Mandiri Investa Attractive.
Secure money Secure money Rupiah fund is a fixed income fund with underlying exposures in fixed income securities
listed on the Indonesia Stock Exchange and money market instruments through mutual fund Schroder Dana Mantap Plus II. The USD fund has underlying exposures in fixed income securities listed in
Indonesia Stock Exchange as well as foreign stock exchanges and money market instruments through mutual fund Danareksa Melati Dollar.
Money market This is money market fund with underlying exposures in money market instrument including term
deposits and fixed income securities listed on Indonesia Stock Exchange through mutual fund Mandiri Pasar Uang.
Active money This is a balanced fund with underlying exposures in stocks and bonds listed in Indonesia Stock
Exchange and money market instruments through mutual fund Mandiri Investa Aktif.
Fixed money This is a fixed income fund with underlying exposures in Indonesian Government Bonds and money
market instruments through mutual fund Mandiri Investa Dana Obligasi.
The details of unit-linked investments sharia by type of contracts are as follow:
2010 2009
2008
Attractive money syariah 455,647
- -
Active money syariah 48,880
- -
504,527 -
-
The policyholders’ funds - sharia placed in statutory deposits as of 31 December 2010 amounted to Rp 9,882.
Attractive money syariah This is an equity fund with underlying exposures in stocks and bonds listed in Indonesia Stock
Exchange and money market instruments in accordance with sharia principle through mutual fund Mandiri Investa Atraktif Syariah.
Active money syariah This is a balanced fund with underlying exposures in stocks and bonds listed in the Indonesia Stock
Exchange and money market instruments in accordance with sharia principle through mutual fund Mandiri Investa Syariah Berimbang.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 586 16. FIXED ASSETS
The details of fixed assets were as follows:
Movements from 1 January 2010 Beginning
Ending to 31 December 2010
Balance Additions
Deductions Reclassifications
Balance
CostRevalued Amount Direct ownership
Land 2,789,518
412 10,436
711 2,780,205
Buildings 1,832,026
11,508 1 ,874
42,715 1,884,375
Furnitures, fixtures, office equipment and computer
equipmentsoftware 4,696,691
290,568 4 ,843
156,415 5,138,831
Vehicles 88,948
77,982 7,800
1,406 160,536
Construction in progress 422,478
646,718 -
209,273 859,923
Leased assets 3,267
- -
- 3,267
9,832,928 1,027,188
24,953 8,026
10,827,137 Accumulated Depreciation
and Amortisation Note 43 Direct ownership
Buildings 1,012,549
77,656 -
1,186 1,091,391
Furnitures, fixtures, office equipment and computer
equipmentsoftware 3,798,091
358,394 4,134
6,767 4,145,584
Vehicles 57,676
11,912 8,118
268 61,202
Leased assets 1,306
654 -
- 1,960
4,869,622 448,616
12,252 5,849
5,300,137 Net book value
Direct ownership Land
2,780,205 Buildings
792,984 Furniture, fixtures, office equipment and computer equipmentsoftware
993,247 Vehicles
99,334 4,665,770
Construction in progress 859,923
Leased assets 1,307
5,527,000
The fixed assets were revalued in 1979, 1987 and 2003. The amounts include increment in value of fixed assets based on revaluation of fixed assets of the merged banks performed by an Independent Appraiser, PT Vigers Hagai Sejahtera, using
market values as at 31 July 1999. The revaluation increments were recorded prospectively on 18 June 2003 Note 16a. Reclassified from Abandoned Property and Construction In Progress.
Construction in progress as at 31 December 2010 was comprised of:
Balance
Computers and other hardware that have not been installed 338,660
Buildings 227,866
Product development and license - Integrated Banking System 147,050
Office equipment and inventory 137,962
Vehicles 775
Others 7,610
859,923
The estimated percentage of completion of construction in progress as at 31 December 2010 for Integrated Banking System agreement was ranging between 82.13 - 99.93.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 587 16. FIXED ASSETS continued
Movements from 1 January 2009 Beginning
Ending to 31 December 2009
Balance Additions
Deductions Reclassifications
Balance
CostRevalued Amount Direct ownership
Land 2,761,131
92 192
28,487 2,789,518
Buildings 1,637,465
148,140 422
46,843 1,832,026
Furnitures, fixtures, office equipment and computer
equipmentsoftware 4,167,285
168,031 3,779
365,154 4,696,691
Vehicles 79,069
12,013 5,812
3,678 88,948
Construction in progress 416,690
454,833 -
449,045 422,478
Leased assets 3,267
- -
- 3,267
9,064,907 783,109
10,205 4,883
9,832,928 Accumulated Depreciation
and Amortisation Note 43 Direct ownership
Buildings 925,316
82,793 403
4,843 1,012,549
Furnitures, fixtures, office equipment and computer
equipmentsoftware 3,478,309
355,936 1,305
34,849 3,798,091
Vehicles 57,069
6,697 5,781
309 57,676
Leased assets 653
653 -
- 1,306
4,461,347 446,079
7,489 30,315
4,869,622 Net book value
Direct ownership Land
2,789,518 Buildings
819,477 Furniture, fixtures, office equipment and computer equipmentsoftware
898,600 Vehicles
31,272 4,538,867
Construction in progress 422,478
Leased assets 1,961
4,963,306
The fixed assets were revalued in 1979, 1987 and 2003. The amount include increment in value of fixed assets based on revaluation of fixed assets of the merged banks performed by an Independent Appraiser, PT Vigers Hagai Sejahtera, using
market values as at 31 July 1999. The revaluation increments were recorded prospectively on 18 June 2003 Note 16a. Reclassified from Abandoned Property and Construction In Progress.
Construction in progress as at 31 December 2009 was comprised of:
Balance
Computers and other hardware that have not been installed 161,017
Product development and license - Integrated Banking System 106,049
Office equipment and i nventory 102,105
Buildings 49,287
Others 4,020
422,478
The estimated percentage of completion of construction in progress as at 31 December 2009 for Integrated Banking System agreement was ranging between 97.22 - 98.98.
Included in the addition of fixed assets during 2009 is a building which was transferred by the Subsidiary PT Usaha Gedung BDN or UG BDN in accordance with the Joint Operation agreement
KSO, which states that at the end of KSO agreement, UG BDN will transfer the building to Bank Mandiri. Bank Mandiri recorded the building at fair value of Rp131,640 Note 46 and depreciate it for
20 years.