FINANCIAL INSTRUMENTS AND FINANCIAL RISK AND CAPITAL RISK MANAGEMENT

PT. BHAKTI INVESTAMA Tbk DAN ENTITAS ANAK PT. BHAKTI INVESTAMA Tbk AND ITS SUBSIDIARIES CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNTUK TAHUN-TAHUN YANG BERAKHIR FOR THE YEARS THEN ENDED 31 DESEMBER 2011, 2010 DAN 2009 DAN PADA DECEMBER 31, 2011 AND 2010 AND 2009 AND TANGGAL 1 JANUARI 200931 DESEMBER 2008 AS OF JANUARY 1, 2009DECEMBER 31, 2008 Angka dalam tabel dinyatakan dalam jutaan Rupiah - Lanjutan Figures in tables are stated in millions of Rupiah - Continued - 140 - Nilai tercatat aset keuangan pada laporan keuangan konsolidasian setelah dikurangi dengan penyisihan untuk kerugian mencerminkan eksposur Perusahaan dan entitas anak terhadap risiko kredit. The carrying amount of financial assets recorded in the consolidated financial statements, net of any allowance for losses represents the Company and its subsidiaries’ exposure to credit risk. iii. Manajemen risiko likuiditas iv. Liquidity risk management Tanggung jawab utama manajemen risiko likuiditas terletak pada Dewan Direksi, yang telah membangun kerangka manajemen risiko likuiditas yang sesuai untuk persyaratan manajemen likuiditas dan pendanaan jangka pendek, menengah dan jangka panjang Perusahaan dan entitas anak. Perusahaan dan entitas anak mengelola risiko likuiditas dengan menjaga kecukupan simpanan, fasilitas bank dan fasilitas simpan pinjam dengan terus- menerus memonitor perkiraan dan arus kas aktual dan mencocokkan profil jatuh tempo aset dan liabilitas keuangan. The ultimate responsibility for liquidity risk management rests at the board of directors, which has build a risk liquidity management framework that suits the liquidity management requirement and short, medium and long term funding for the Company and its subsidiaries. The Company and its subsidiaries manage liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. Perusahaan dan entitas anak memelihara kecukupan dana untuk membiayai kebutuhan modal kerja yang berkelangsungan. The Company and its subsidiaries maintain sufficient funds to finance its ongoing working capital requirements.

b. Nilai wajar instrumen keuangan c. Fair value of financial instruments

Rincian nilai wajar instrumen keuangan sebagai berikut: The following table details the fair value of financial instruments: Nilai tercatat Nilai wajar Carrying amount Fair value Aset Keuangan Financial Asset Kas dan setara kas 1.121.551 1.121.551 i Cash and cash equivalents Aset keuangan lainnya - lancar 1.714.577 1.714.577 iii Other financial assets - current Piutang 3.885.642 3.885.642 iiii Accounts receivable Aset keuangan lainnya - tidak lancar 2.125.677 2.125.677 iiiv Other financial assets - noncurrent Liabilitas Keuangan Financial Liabilities Utang bank 212.917 212.917 i Bank loans Utang 1.367.541 1.367.541 i Accounts payable Biaya masih harus dibayar 335.231 335.231 i Accrued expenses Utang obligasi 2.467.305 2.540.026 iiv Bonds payable Pinjaman jangka panjang 1.268.276 1.268.276 iii Long-term liabilities Liabilitas jangka panjang lainnya 11.757 11.757 iii Other noncurrent liabilities Uang muka pelanggan 20.349 20.349 i Customer deposit Wesel bayar 154.320 154.320 i Notes payable Liabilitas kepada pemegang polis 52.765 52.765 i Liabilities to policyholder Liabilitas sewa pembiayaan 28.662 28.662 i Finance lease obligation i nilai tercatat mendekati atau setara dengan nilai wajar karena akan jatuh tempo dalam jangka pendek. i carrying amount approximates or equal to fair value because of short-term maturity. ii nilai tercatat termasuk nilai wajar dana kelolaan dan reksadana yang dinilai berdasarkan nilai aset bersih. ii carrying amount includes fair value of investment in funds and mutual funds which are based on net asset value of the fund. iii nilai wajar ditentukan dengan mendiskontokan arus kas masa depan. iii fair value is determined by discounting the future cash flows.