Premiums and Reinsurance Receivables
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
Beginning Ending
Percentage Investment
Equity in Investment
of ownership January 1
net income Divesment
December 31
AFS - Acquisition Cost
PT Oto Multiartha 16.14
176,309 -
176,309 -
PT Summit Oto Finance 0.16
1,269 -
1,269 -
Total 177,578
- 177,578
- 2013
Equity Method PT Asuransi Jiwa Mega Life AJML
AJML, domiciled in Jakarta, engaged in life insurance. Based on the General Stockholders’ Meeting dated June 26, 2014, the AJML stockholders
decided to distributed the dividend of shares amounting to Rp 400,000 proportionately to the stockholder in accordance with percentage of ownership.
PT Panji Ratu Jakarta PRJ PRJ, domiciled in Jakarta, engaged in development, trading and service.
Jobstreet Indonesia JI JI, domiciled in Jakarta, engaged in employee recruitment services by internet and human
recources management. On March 14, 2014, the Company has sold all its investment in shares of PT Jobstreet
Indonesia to Jobstreet.com Pte Ltd, Singapore with selling price RM 13,740,000 equivalent to Rp 47,865, and recognized, gain on sale of investment in shares amounting Rp 47,438.
The proceeds from sale of shares, were used to buy the shares of Jobstreet Berhard Malaysia amounting to RM 13,740,000 equivalent to Rp 47,865 and categorized by the
Company as short-term investment at FVPL Note 5. The condensed financial information of the associates are as follows :
2014 2013
Total Assets 1,239,966
1,488,055 Total Liabilities
622,685 888,968
Total Equity 617,281
599,087 Net Income
19,262 43,727
Cost Method PT Oto Multiartha and PT Summit Oto Finance
On March 1, 2013, the Company has sold all its shares of stock in PT Oto Multiartha and PT Summit Oto Finance, for a selling price of Rp 1,223,212, accordingly, the Company
realized a gain on sale of investments amounting to Rp 1,045,634.
- 80 -
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
PT Super Wahana Tehno SWT On June 17, 2013, the Company has sold all its shares of stock in PT Super Wahana
Tehno, for a selling price of Rp 15,048, accordingly, the Company realized a gain on sale of investment amounting to Rp 4,427.