PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5147 60. NEW ACCOUNTING STANDARDS continued
DSAK-IAI has also issued revision of the followings accounting standards which are applicable for financial statements covering periods beginning on or after 1 January 2011:
- SFAS 1 revised 2009 – Presentation of Financial Statements,
- SFAS 2 revised 2009 – Statements of Cashflows,
- SFAS 4 revised 2009 – Consolidated and Separate Financial Statements,
- SFAS 5 revised 2009 – Operating Segments,
- SFAS 12 revised 2009 – Interest in Joint Ventures,
- SFAS 15 revised 2009 – Investment in Associates,
- SFAS 25 revised 2009 – Accounting Policies, Changes in Accounting Estimates and Errors,
- SFAS 48 revised 2009 – Impairment of Assets,
- SFAS 57 revised 2009 – Provisions, Contingent Liabilities and Contigent Assets,
- SFAS 58 revised 2009 – Non-Current Assets Held for Sale and Discountinued Operations,
- Interpretation of SFAS 7 revised 2009 – Consolidation of Special Purpose Entities,
- Interpretation of SFAS 9 – Changes in Existing Decommissioning, Restoration and Similar
Liabilities, -
Interpretation of SFAS 10 – Customer Loyalty Program, -
Interpretation of SFAS 11 – Distribution of Non-Cash Assets to Owners, -
Interpretation of SFAS 12 – Jointly Controlled Entities: Non-monetary Contributions by Ventures. Bank and its Subsidiaries are evaluating the impact of the implementation of these revised standard on
the consolidated financial statements.
61. INTERNATIONAL FINANCIAL REPORTING STANDARDS RECONCILIATION
In relation to the implementation of SFAS 50 revised 2006 and SFAS 55 revised 2006 effective on 1 January 2010 as explained in Note 60, the Bank is continuously enhance the provisioning methodology
and historical data used to calculate the collective and individual impairment for the implementation of those SFAS. Therefore, the Management has decided not to disclose the International Financial
Reporting Standard IFRS reconciliation for consolidated net income and consolidated shareholders’ equity of Bank Mandiri and Subsidiaries as at and for the year ended 31 December 2009. SFAS 50
revised 2006 and SFAS 55 revised 2006 are adopted from IFRS 32 and IFRS 39 revised 2005.
The Bank has already made necessary preparation for the implementation of the SFAS 50 revised 2006 and SFAS 55 revised 2006 starting 1 January 2010. According to the Management’s
assessment, the implementation of these standards would not result in unfavourable impact to the Bank’s consolidated financial statements as at 1 January 2010.
62. RECLASSIFICATION OF ACCOUNTS
Account premium expense to Indonesia Deposit Insurance Corporation Lembaga Penjaminan Simpanan in the 31 December 2008 consolidated financial statements have been reclassified to be consistent with
the presentation in the 31 December 2009 consolidated financial statements as follows:
As Previously As Currently
Accounts Description Reported
Reclassification Reported
Other operating expenses - others - net 954,309
484,980 469,329
Interest expense 11,886,437
484,980 12,371,417
Cash flows from operating activities: - Payments of interest expense
11,680,237 484,980
12,165,217 - Operating expenses – others
954,312 484,980
469,332
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5148 62. RECLASSIFICATION OF ACCOUNTS continued
Payment of premium expense to Indonesia Deposit Insurance Corporation Lembaga Penjaminan Simpanan in the 31 December 2007 consolidated financial statements have been reclassified to be
consistent with the presentation in the 31 December 2009 consolidated financial statements as follows:
As Previously As Currently
Accounts Description Reported
Reclassification Reported
Other operating expenses - others - net 759,719
430,478 329,241
Interest expense 11,000,194
430,478 11,430,672
Cash flows from operating activities: - Payments of interest expense
11,047,366 430,478
11,477,844 - Operating expenses – others
446,707 430,478
16,229
63. SUBSEQUENT EVENTS
In relation to the implementation of SFAS 50 revised 2006 and SFAS 55 revised 2006 effective on 1 January 2010, Banks have the opportunity to reasses and reclassify their financial assets classification
without consequences. As at 1 January 2010, the Bank decided to reclassify its Government Bonds amounting Rp38,000,000 from held to maturity to available for sale classification. The Government Bonds
was reclassified using fair value as at 1 January 2010 and the unrealised loss amounting Rp404,255 was recorded as part of Unrealised LossesGains from DecreaseIncrease in Fair Value of Marketable
Securities and Government Bonds net of deferred tax in equity.
On 28 Januari 2010, Bank Mandiri has drawdown its long term loan facilities from Asian Development Bank ADB amounting to USD75,000,000 full amount and USD30,000,000 full amount fund with terms
of 7 years and 5 years, respectively. These borrowings will mature on 31 October 2016 and 31 October 2014, respectively. These fund borrowings bear interest rate of 6-months LIBOR plus a certain margin
Note 57e.
64. SUPPLEMENTARY INFORMATION
The information presented in Appendix 61 - 610 is supplementary financial information of PT Bank Mandiri Persero Tbk., the parent company, which presents the Bank’s investments in subsidiaries under
the equity method.
Appendix 611 - 613 present information of the quality of productive assets in accordance with the regulations of Bank Indonesia No. 322PBI2001 on Transparency of Banks Financial Condition as
amended by regulations of Bank Indonesia No. 750PBI2005 and Bank Indonesia Circular Letter No. 330PPNP of Quarterly Report and Monthly Publication of Commercial Banks and Certain Reports
submitted to Bank Indonesia, as amended by Bank Indonesia Circular Letter No. 710DPNP, and the regulations of Bank Indonesia No. 47PBI2002 of Prudence Principle in the framework of the Lending
Bank Restructuring Agency IBRA.
On the basis that the differences between the parent company financial statements and consolidated financial statements are not material, notes to the financial statements of the parent company have not
been included in this supplementary financial information.
