Premiums and Reinsurance Receivables

PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011 Figures are Presented in Millions of Rupiah, unless Otherwise Stated - 83 - Based on remaining period until maturity: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Rupiah 1 year or less 3,631,094 3,453,649 2,590,571 More than 1 year until 2 years 1,944,221 1,596,598 767,708 More than 2 years until 5 years 2,834,685 2,613,243 2,160,473 More than 5 years 258,901 530,806 695,952 Subtotal 8,668,901 8,194,296 6,214,704 Foreign currency Note 54 1 year or less 1,500,011 1,763,282 586,405 More than 1 year until 2 years 64,998 59,343 47,696 More than 2 years until 5 years 152,174 125,179 53,992 More than 5 years - 98,074 108,998 Subtotal 1,717,183 2,045,878 797,091 Total 10,386,084 10,240,174 7,011,795 Allowance for impairment losses 92,248 104,732 77,638 Net 10,293,836 10,135,442 6,934,157 d. Average interest rates per annum on loans are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Rupiah 6.00 - 35.07 6.00 - 33.06 5.95 - 26.97 Foreign currencies 2.45 - 11.00 2.45 - 11.00 4.25 - 9.50 e. The changes in allowance for impairment losses on loans are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Balance at the beginning of the year 104,732 77,638 90,889 Adjustment resulting from adoption of PSAK No. 55 Revised 2006 Note 63 - - 4,316 Provisions reversal during the year 23,988 24,737 53,241 Accrual of interest on impaired loans - - 5,150 Write-off during the year 2,444 626 63,015 Recovery of loans written off 12,380 6,860 - Exchange rate differences 1,568 3,877 2,643 Balance at the end of the year 92,248 104,732 77,638 Management believes that the allowance for impairment losses on loans is adequate to cover the possible losses which might arise from uncollectible loans. f. As of December 31, 2012 and 2011 and January 1, 2011December 31, 2010, the outstanding balance of BS’ channeling amounted to Rp 3,676,254, Rp 3,428,783 and Rp 2,332,310, respectively, of which Rp 2,417,937, Rp 1,875,735, and Rp 1,200,157, respectively, were transferred through SMF. PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011 Figures are Presented in Millions of Rupiah, unless Otherwise Stated - 84 - g. Loans granted to related parties, in form of employee loans, represent loans for purchases