PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated
49. Earnings Per Share
2014 2013
Net income for computation of basic earnings per share and diluted earnings per share
1,008,382 1,213,374
Weighted average number of ordinary shares for computation of diluted earnings per share
6,237,808,717 6,236,872,901
Basic earning per share 162
195
50. Nature of Relationship and Transactions with Related Parties Nature of Relationship
Other than the key management personnel, the related parties of the Company represent companies under the Sinar Mas Group of companies:
a. Stockholders included ultimate stockholder of the Company.
b. The companies which have the same stockholder with the Company, directly or indirectly.
c. The companies which are controlled by family members of stockholders and key
management of the Company.
Transactions with Related Parties
In the normal course of business, the Group entered into certain transactions with related parties. a.
Significant balances with related parties in the consolidated statements of financial position as of consolidated statement of financial position dates are as follows:
Percentage to Percentage to
Total Assets Total Assets
Total Liabilities
Total Liabilities
ASSETS Short-term investments
1,340,807 2.00
1,236,438 3.00
Factoring receivables 69,825
0.00 70,084
0.00 Premium and reinsurance receivables
234,057 0.00
117,809 0.00
Loans 818,780
2.00 944,678
2.00 Receivables from brokers
67,993 0.00
1,834 0.00
Other receivables 14,636
0.00 14,642
0.00 Other assets
42,072 0.00
61,278 0.00
Total Assets 2,588,170
4.00 2,446,763
5.00
LIABILITIES Deposits and deposits from other banks
2,534,085 7.00
2,996,072 9.00
Insurance payables 33,725
0.00 12,709
0.00 Unearned premium and
estimated claims liability 755,426
2.00 458,290
1.00 Payables to brokers
- 0.00
1,264 0.00
Accrued expenses 3,252
0.00 3,366
0.00 Other liabilities
2,700 0.00
3,330 0.00
Total Liabilities 3,329,188
9.00 3,475,031
10.00 2014
2013
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PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated
b. As of December 31, 2014 and 2013, the Group invested their funds amounting to
Rp 1,333,769 and Rp 861,608, respectively, in units of mutual funds which were managed by SMS, a subsidiary, as investment manager Note 5.
c. For the years ended December 31, 2014 and 2013, the underwriting income from related
parties amounted to Rp 1,392,885 and Rp 1,286,561 or 14.53 and 10.89, respectively, of the total underwriting income.
d. For the years ended December 31, 2014 and 2013, the interest income from related parties
amounted to Rp 44,865 and Rp 70,746 or 1.57 and 2.85, respectively, of the total interest income.
e. The Group has insured the investment properties and property and equipment with ASM
Notes 18 and 19. f.
The aggregate salaries and benefits paid by the Group to all commissioners and directors in 2014 and 2013 amounted to Rp 127,464 and Rp 99,135, respectively.
g. As of December 31, 2014 and 2013, the total balance of commitments and contingencies
transactions LC and bank guarantees with related parties amounted to Rp 196,655 and Rp 138,818, respectively Note 54.
51. Net Monetary Assets and Liabilities Denominated in Foreign Currencies
2014 2013
Equivalent in Equivalent in
Equivalent in Equivalent in
US Rp
US Rp
Assets Cash and cash in banks
57,665,974 714,479
73,978,260 900,694
Short term investments 173,718,264
2,158,484 224,194,462
2,730,189 Factoring receivables
1,450,000 18,038
1,471,251 17,933
Premiums and reinsurance receivables 36,598,530
455,285 19,514,657
237,864 Loans
206,792,249 2,561,122
115,707,642 1,408,162
Acceptance receivables 2,488,575
30,821 19,582,940
238,324 Other receivables
12,405,097 154,289
4,047,344 49,322
Reinsurance assets 77,558,524
964,828 59,158,284
721,080 Other assets
333,366 4,133
1,332,924 16,224
Total assets 569,010,579
7,061,479 518,987,764
6,319,792
Liabilities Deposits and deposits from other banks
290,921,265 3,603,060
281,486,419 3,425,690
Insurance payables 35,872,106
446,248 19,388,535
236,327 Acceptance liabilities
2,488,575 30,821
19,582,940 238,324
Liability for future policy benefits 113,096,540
1,406,921 102,781,150
1,252,799 Segregated funds contract liabilities - Unit link
21,244,621 264,283
29,117,700 354,916
Premiums received in advance 1,174,557
14,611 1,659,581
20,229 Unearned premiums and estimated
claim liabilities 84,956,550
1,056,859 66,869,708
815,075 Accrued expenses
183,851 2,277
233,854 2,846
Other liabilities 945,857
11,762 16,639,184
202,520 Total liabilities
550,883,922 6,836,842
537,759,071 6,548,726
Net 18,126,657
224,637 18,771,307
228,934
As of December 31, 2014 and 2013, the conversion rates used by the Group were disclosed in Note 2 to consolidated financial statements.
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