PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 55 1. GENERAL continued
d. Initial Public Offering, Limited Public Offering, Changes in Share Capital and Public Offering of Bank Mandiri Subordinated Bonds continued
Public Offering of Bank Mandiri Subordinated Bonds
On 3 December 2009, Bank Mandiri received the effective approval from the Chairman of Bapepam- LK through in its letter No. S-10414BL2009 dated 3 December 2009 to conduct the public offering of
Bank Mandiri Rupiah Subordinated Bond I 2009 with a nominal value of Rp3,500,000. On 14 December 2009, the aforementioned Bond was listed on Indonesia Stock Exchange Note 31.
e. Quasi-Reorganisation
In order for Bank Mandiri to eliminate the negative consequences of being burdened by accumulated losses, the Bank undertook quasi-reorganisation as approved in the Extraordinary General
Shareholders’ Meeting “RUPS-LB” on 29 May 2003.
The quasi-reorganisation adjustments were booked on 30 April 2003 where the accumulated losses of Rp162,874,901 were eliminated against additional paid-in capitalagio.
Bank Mandiri’s Articles of Association were amended to reflect the changes in additional paid-in capital as a result of quasi-reorganisation, based on notarial deed of Sutjipto, S.H., No. 130 dated 29
September 2003 which was approved by the Ministry of Law and Human Rights of the Republic of Indonesia in its decision letter No. C-25309.HT.01.04.TH.2003 dated 23 October 2003 and was
published in the State Gazette No. 910, Supplement No. 93 dated 23 October 2003.
On 30 October 2003, Bank Mandiri’s RUPS-LB approved the quasi-reorganisation as at 30 April 2003, which were notarised by Sutjipto, S.H. in notarial deed No. 165 dated 30 October 2003.
f. Divestment of Government Share Ownership
On 11 March 2004, the Government divested another 10.00 of its ownership in Bank Mandiri which was equivalent to 2,000,000,000 Common Shares Series B through private placements Note
34a.
g. Subsidiaries Associates
Subsidiaries included in the consolidated financial statements as at 31 December 2011 and 2010, are as follows:
Percentage of Ownership Name of Subsidiaries
Nature of Business Domicile
2011 2010
PT Bank Syariah Mandiri BSM Sharia Banking
Jakarta 99.99
99.99 PT Usaha Gedung Bank Dagang Negara
Property Management Jakarta
99.00 99.00
PT Bumi Daya Plaza Property Management
Jakarta 93.33
93.33 Bank Mandiri Europe Limited BMEL
Commercial Banking London
100.00 100.00
PT Mandiri Sekuritas Securities
Jakarta 95.69
95.69 PT Bank Sinar Harapan Bali BSHB
Commercial Banking Denpasar
81.46 81.46
PT Mandiri Tunas Finance MTF Consumer Financing
Jakarta 51.00
51.00 Mandiri International Remittance
Sendirian Berhad MIR Remittance
Kuala Lumpur 100.00
100.00 PT AXA Mandiri Financial Services
Life Insurance Jakarta
51.00 51.00
PT Mandiri AXA General Insurance MAGI General Insurance
Jakarta 60.00
- Effective since 20 August 2010
Effective since 11 October 2011
The Subsidiaries’ total assets as at 31 December 2011 and 2010 before elimination amounting to Rp68,301,466 and Rp47,332,576 or 12.38 and 10.52 of the total consolidated assets,
respectively.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 56 1. GENERAL continued
g. Subsidiaries and Associates continued PT Bank Syariah Mandiri
