PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 94 - 2.
Call Money consist of:
2011 2010
Rp 000,000 Rp 000,000
Third parties Rupiah
- 55,000
3. Time deposits consist of:
2011 2010
Rp 000,000 Rp 000,000
Third parties Rupiah
48,541 213,420
Interest rates for deposits from other banks per annum are as follows:
2011 2010
Time deposits 6.50 - 7.25
6.50 - 7.25 Call money
- 6.00
25. Securities Sold Under Agreements to Repurchase
As of December 31, 2011 and 2010, investments in securities sold under agreement to repurchase was done by SMS, subsidiary, consisting of :
Maturity Net carrying
Type of Investment Term
Date value
Rp 000,000 Rupiah
Share - Sinar Prima Reksa PT Tiga Pilar Sejahtera Food Tbk
91 days January 23, 2012
39,125 December 31, 2011
Maturity Net carrying
Type of Investment Term
Date value
Rp 000,000 Rupiah
Share - Sinar Prima Reksa PT Tiga Pilar Sejahtera Food Tbk
90 days January 24, 2011
32,069 December 31, 2010
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 95 -
26. Accounts Payable
2011 2010
Rp 000,000 Rp 000,000
Related parties Note 54 Reinsurance payable
19,108 7,181
Commissions payable 8,064
3,216 Insurance claims payable
3,354 1,868
Premiums payable 929
181 Total
31,455 12,446
Third parties Reinsurance payable
126,426 54,769
Insurance claims payable 99,531
98,605 Premiums payable
26,014 8,073
Commissions payable 18,001
22,844 Others
1,637 2,115
Total 271,609
186,406 Total
303,064 198,852
The details of accounts payable based on currency: 2011
2010 Rp 000,000
Rp 000,000 Rupiah
Insurance claims payable 87,609
97,584 Reinsurance payable
96,269 10,481
Commissions payable 19,330
21,604 Premiums payable
20,755 3,482
Others 1,637
2,115 Total
225,600 135,266
Foreign currency Note 59 Reinsurance payable
49,265 51,469
Insurance claims payable 15,275
2,889 Commissions payable
6,736 4,456
Premiums payable 6,188
4,772 Total
77,464 63,586
Total 303,064
198,852 Reinsurance payables represent insurance premiums due to the reinsurance companies based
on the reinsurance contract treaty for certain amount of insurance policies. Commissions payable represent commissions due to brokers and insurance agencies while
insurance claims payable represent liabilities to policyholders in relation to claims which have been approved but the payments of which are still in process.
Premiums payable represent co-insurance premium payable to co-insurance member arising from life insurance transaction.
