PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated
76
25. FUND BORROWINGS
2007 2006
Rupiah: Bank Indonesia a
392,150 599,426
The Government of Republic of Indonesia b Note 47a 280,000
350,000 PT Permodalan Nasional Madani Persero c
326,122 486,159
PT Bank Ekspor Indonesia Persero d -
400,000 Others g
625,743 75,000
Total Rupiah 1,624,015
1,910,585 Foreign Currency:
Trade Financing Facilities e 6,875,676
154,854 Direct Off-shore Loans f
845,370 1,359,453
Total Foreign Currency 7,721,046
1,514,307
Total 9,345,061
3,424,892
As of December 31, 2007 and 2006, fund borrowings from related parties amounted to Rp280,000 and Rp350,000, respectively Note 47a.
a Bank Indonesia This account represents a credit liquidity facility obtained from Bank Indonesia BI, which was re-
loaned to Bank Mandiri customers under the Government Credit Program. The management and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state-
owned company, based on Law No. 231999 dated May 17, 1999 regarding BI, BI Regulation No. 23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated September 17,
2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit Program. This facility is subject to interest at rates ranging from 3 to 9 per annum and will mature
on various dates through 2017. The details of this account are as follows:
2007 2006
Rupiah: Small-Scale Working Capital Loans KKPA
285,484 365,407
Small-Scale Investment Loans KIK 74,132
121,675 Investment Loans KI
32,534 112,344
392,150 599,426
b The Government of Republic of Indonesia This account represents credit facilities obtained from The Government of Republic of Indonesia
based on agreement No. KP-022DP32004 dated May 14, 2004 which was amended with agreement No. AMA-7KP-022DP32004 dated December 15, 2004 and letter No. 5-662PB.72005 dated
May 13, 2005 regarding amendment of loan agreement between The Government of Republic of Indonesia and PT Bank Mandiri Persero Tbk No. KP-022DP32004 dated May 14, 2004. This
borrowing is re-loaned by Bank Mandiri to the small and micro businesses which procedures, arrangements and requirements of the relending program are agreed with the Decision Letter of
Ministry of Finance No. 40KMK.062003 dated January 29, 2003 regarding Credit Financing Facilities for Small and Micro Businesses and amended with Decision Letter of Ministry of Finance
No. 74KMK.062004 dated February 20, 2004. This facility bears interest at 3-month SBI rate which will be determined every three months at March 10, June 10, September 10 and December 10 based
on the latest SBI auction rate. The repayment of the borrowing will be made in five 5 installments and the first installment will be due on December 10, 2007. The first installment paid amounted to
Rp70,000 in December 2007.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated
77
25. FUND BORROWINGS continued
c PT Permodalan Nasional Madani Persero This account represents credit facilities obtained from PT Permodalan Nasional Madani Persero,
which borrowings were re-loaned by Bank Mandiri to the members of the Primary Cooperative Kredit Koperasi Primer kepada Anggotanya [KKPA]. These facilities are subject to interest at 7 per
annum. The loan terms and installment payments schedule reflect the terms of the individual loan agreements.
d PT Bank Ekspor Indonesia Persero This account represents credit facilities for export working capital obtained from Bank Ekspor
Indonesia based on the facility agreement No. 064PPF122000 dated December 12, 2000 between PT Bank Ekspor Indonesia Persero and PT Bank Mandiri Persero Tbk. The agreement was for the
period from December 20, 2000 until December 19, 2001, and was extended annually with the latest agreement No. 054PPF122005 to December 16, 2006. The facilities were re-loaned to direct and
indirect exporter customers of Bank Mandiri and bear interest at market rates. The facilities were fully repaid on January 31, 2007.
e Trade Financing Facilities Trade financing facilities represent short-term borrowings with tenors between 129 to 185 days and
bear interest at LIBOR or SIBOR plus an applicable margin. These borrowings are guaranteed by letters of credit issued by Bank Mandiri. The details of the borrowings are as follows:
2007 2006
JP Morgan Chase NA, Singapore 939,300
- Bank of New York, Singapore
751,440 -
Wachovia Bank NA, USA 704,475
- ABN AMRO, Singapore
610,545 -
ING Bank, Singapore 563,580
- Standard Chartered Bank, Singapore
469,650 -
Credit Suisse, Singapore 469,650
- Bank of Nova Scotia, Singapore
469,650 -
Commerzbank AG, Germany 375,720
- DBS Bank, Ltd., Singapore
281,790 -
AMEX Bank, New York 281,790
- Overseas Chinese, Singapore
234,825 -
National Bank of Dubai, UAE 234,825
- Bank of America, San Fransisco
187,860 -
DZ Bank AG, Singapore 159,681
- Dresdner Bank, AG, Frankfurt
140,895 67,523
Bayerische Landesbank, Munchen -
67,523 Natexis, Singapore
- 19,808
6,875,676 154,854
f Direct Off-shore Loans The details of direct off-shore loans are as follows :
2007 2006
Syndicate OCBC, Natixis, Intesa San Paolo SPA, DZ Bank AG, Bank Muscat S.A.O.G
563,580 -
Sumitomo Mitsui Banking Corporation, Singapore 281,790
270,090 Deutsche Bank AG, Singapore
- 675,225
Bayerische Hypo-Und Vereinsbank AG, Singapore -
135,045 Natixis, French
- 135,045
Overseas Chinese Banking Corp., Singapore -
135,045 Bank of New York, Singapore
- 9,003
845,370 1,359,453
