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
44
7. GOVERNMENT BONDS continued
Significant information relating to Government Bonds is as follows continued: 2007 continued
A summary of callable zero coupon deposit contract is as follows:
Effective Maturity
Beginning Ending
Effective Deposits
Date Date
Balance Balance
Interest Rate Rupiah
July 29, 2004 June 20, 2013
359,666 1,000,000
12.18 Rupiah
April 8, 2005 December 20, 2013
615,000 1,514,470
10.90
The deposit was placed from a portion of fund received from transfer proceeds of Government Bonds to counterparty bank.
The interest rate of deposit above is the same with the yield of Government Bonds at the transfer date. The agreement gives an option right to counterparty bank to early terminate the agreement by early
terminationwithdrawal of the Rupiah deposit on any of the redemption date each year. Based on the agreement, counterparty bank has option right to early terminate the agreement in effect of
unwind events, which is the Bank failed to pay Rupiah deposit top up as required in the agreement. If counterparty bank exercised its option right to early terminate the agreement due to unwind events, the
Bank has to pay unwind cost to counterparty bank as determined later by the counterparty bank.
In addition counterparty bank has option right to early terminate the transaction if counterparty bank assess the fund received in the form of callable zero coupon deposits has higher interest rate than the
market interest rate, as the counterparty bank has executed on May 29, 2007 and June 26, 2007. On May 29, 2007, counterparty bank terminated the callable zero coupon deposits with beginning balance
amounting Rp359,666 and paid cash as settlement of the transaction on settlement date June 20, 2007. On June 26, 2007, counterparty bank terminated the callable zero coupon deposits with beginning
balance amounting Rp615,000 and paid cash as settlement of the transaction on settlement date December 21, 2007.
2006 As of December 31, 2006, Government Bonds with a total nominal amount of Rp1,724,119 had been sold
to counterparties with agreements to repurchase Note 22. The ownership of Government Bonds with an aggregate nominal value of Rp1.926.843 have been legally
transferred to counterparty bank related with Callable Parallel Deposits Note 21 and Callable Zero Coupon Deposits transactions. Because of significant risk and rewards of ownership of Government
Bonds that have not been transferred to counterparty bank, the Bank still recognized Government Bonds on its consolidated balance sheet.
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
45
8. OTHER RECEIVABLES - TRADE TRANSACTIONS
a. By Type, Currency, Related Parties and Third Parties:
2007 2006
Rupiah: Third parties
Usance LC payable at sight 876,539
754,275 Others
189,052 223,273
Total Rupiah 1,065,591
977,548 Foreign Currency:
Related parties Note 47a Others
- 56,878
Third parties Usance LC payable at sight
922,818 1,072,611
Others 879,865
663,249 1,802,683
1,735,860 Total Foreign Currency
1,802,683 1,792,738
Total 2,868,274
2,770,286 Less: Allowance for possible losses
839,732 812,247
2,028,542 1,958,039
b. By Collectibility:
2007 2006
Current 1,617,981
1,546,468 Special mention
445,518 458,152
Sub-standard 6,283
- Doubtful
- 1,010
Loss 798,492
764,656 Total
2,868,274 2,770,286
Less: Allowance for possible losses 839,732
812,247 2,028,542
1,958,039
c. By Maturity:
2007 2006
Rupiah: Less than 1 month
440,254 381,031
1 - 3 months 416,551
431,971 3 - 6 months
208,786 164,546
Total Rupiah 1,065,591
977,548 Foreign Currency:
Less than 1 month 1,047,396
923,331 1 - 3 months
397,855 392,561
3 - 6 months 357,432
476,846 Total Foreign Currency
1,802,683 1,792,738
Total 2,868,274
2,770,286 Less: Allowance for possible losses
839,732 812,247
2,028,542 1,958,039
