MARKETABLE SECURITIES Employee benefit continued
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 558 7. MARKETABLE SECURITIES continued
c. By Remaining Period to Maturity:
2011 2010
Rupiah: No maturity date
623,267 207,090
1 year 3,733,949
18,823,027 ≥ 1 5 years
6,279,494 6,532,711
≥ 5 ≤ 10 years 316,905
107,210 10 years
5,000 -
Total Rupiah 10,958,615
25,670,038 Foreign currencies:
1 year 1,093,835
1,533,360 ≥ 1 5 years
234,370 138,350
≥ 5 ≤ 10 years 28,615
18,020 10 years
17,964 -
Total foreign currencies 1,374,784
1,689,730
Total 12,333,399
27,359,768
Lessadd: Unamortised discounts
9,269 17,009
Unrealised lossgain on decreaseincrease in fair value of securities
70,119 153,665
Allowance for impairment losses 251,093
248,895 330,481
112,239 12,002,918
27,247,529
d. By Issuer:
2011 2010
Corporate 7,810,940
6,859,821 Government and Bank Indonesia
3,142,216 18,909,673
Banks 1,380,243
1,590,274 Total
12,333,399 27,359,768
Lessadd: Unamortised discounts
9,269 17,009
Unrealised lossgain on decreaseincrease in fair value of securities
70,119 153,665
Allowance for impairment losses 251,093
248,895 330,481
112,239 12,002,918
27,247,529
e. Details of Bonds by Rating:
Rating Fair ValueAmortised Cost
31 December 31 December
31 December 31 December
Rating Agencies 2011
2010 2011
2010 Rupiah
Fair value through
profit or loss
Bonds PT Bank International
Indonesia Tbk. Pefindo
idAA+ -
109,840 -
PT Sarana Multigriya Finansial Persero
Pefindo idAA
- 55,125
- PT Aneka Tambang
Persero Tbk. Pefindo
idAA -
45,161 -
PT Jasa Marga Persero Tbk.
Pefindo idAA
- 28,921
- PT Adira Dinamika
Multifinance Tbk. Pefindo
idAA+ -
27,098 -
PT Lautan Luas Tbk. Pefindo
idA- idA -
2,052 2,027
PT Telekomunikasi Indonesia Persero Tbk. Pefindo
- idAAA
- 5,049
Others Pefindo
idD – idAAA idD – idAA+
2,779,555 62,467
3,047,752 69,543
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 559 7. MARKETABLE SECURITIES continued
e. Details of Bonds by Rating continued:
Rating Fair ValueAmortised Cost
31 December 31 December
31 December 31 December
Rating Agencies 2011
2010 2011
2010 Available for sale
Sharia Corporate PT Titan Petrokimia
Nusantara Fitch
A+idn A+idn
52,875 52,250
PT Perusahaan Listrik Negara Persero
Pefindo idAA+
idAA+ 33,600
31,170 PT Bank Pembangunan
Daerah Sulsel Pefindo
idA -
13, 065 -
99, 540 83,420
Bonds PT Jasa Marga
Persero Tbk. Pefindo
idAA idAA
13,146 11,850
112,686 95,270
Held to maturity
Sharia Corporate Bonds PT Indosat Tbk .
Pefindo idAA+
idAA+ 168,109
168,179 PT Berlian Laju
Tanker Tbk. Pefindo
idA- idA -
87,006 87,019
PT Salim Ivomas Pratama
Pefindo idAA
idAA- 60,000
60,000 PT Mitra
Adiperkasa Tbk. Pefindo
idA+ idA+
30,000 30,000
PT Bakrieland Development Tbk.
Pefindo idBBB+
idBBB+ 20,000
20,000 BBB idn –
BBB idn – A- idn,
A- idn, Others
Various idD – idAA+
idD – idAA+ 588,050
588,105 953,165
953,303 Bonds
PT Indosat Tbk. Pefindo
idAA+ idAA+
222,193 220,293
PT Indofood Sukses Makmur Tbk.
Pefindo idAA+
idAA 199,641
193,401 PT Arpeni Pratama
Ocean Line Pefindo
idD idD
86,096 85,670
507,930 499,364
1,461,095 1,452,667
Total Rupiah 4,621,533
1,617,480
Foreign currencies Fair value through profit or loss
Obligasi PT Perusahaan Listrik
Negara Persero Fitch
BBB- -
18,651 -
Available for sale
Bonds Standard Chartered
Bank SP
A+ -
19,057 -
Oversea -Chinese Banking
Corporation Ltd SP
- A-
- 28,076
19,057 28,076
Held to maturity
Bonds Oversea -Chinese
Banking Corporation Ltd
SP -
A- -
18,645 Others
SP -
BBB – A -
45,015 -
63.660
Loan and Receivable
Bond Advance SCT
- -
9,588 -
Total foreign currencies 47,296
91,736 Information on rating of bonds were obtained from Bloomberg, which is based on ratings issued by the rating agencies, such as Pemeringkat Efek Indonesia,
Standard and Poor’s, and Fitch Ratings. Held to maturity securities are stated at amortised costs.
As at 31 December 201 1, the bonds with fair value through profit or loss classification mainly comprise of treasury bills Surat Perbendaharaan Negara which has no rating.
On 25 January 2012 bonds issued by PT Berlian Laju Tanker Tbk. were downgraded from idA- to idCCC by Pefindo. The bond is not rated.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 560 7. MARKETABLE SECURITIES continued
f. Average Interest Rate yield per Annum:
2011 2010
Rupiah 5.27
6.14 Foreign currencies
5.07 8.22
g. Movements of allowance for impairment losses on marketable securities:
2011 2010
Balance at beginning of year 248,895
53,492 Adjustment to opening balance relating to implementation
of SFAS 55 Revised 2006 Note 50 -
2,354 Allowance during the year Note 39
17,530 167,895
Others 15,332
29,862 Balance at end of year
251,093 248,895
Includes effect of foreign exchange translation.
Management believes that the allowance for impairment losses on marketable securities is adequate.
h. Information in respect of classification of “non-impaired” and “impaired” is disclosed in Note 57A. As at 31 December 2011 and 2010, the Bank has investment in mutual fund units classified as
available for sale, which consist of Reksa Dana Terproteksi BNP Paribas Selaras, Reksa Dana Terproteksi BNP Paribas Selaras 2, Reksa Dana Terproteksi Schroder Regular Income Plan X,
Reksa Dana Terproteksi Schroder Regular Income Plan XI and Reksa Dana Terproteksi Schroder Regular Income Plan XII with fair value as at 31 December 2011 amounting to Rp1,505,881,
Rp1,008,150, Rp803,102, Rp806,173 and Rp900,308, respectively 2010: amounting to Rp1,509,170, Rp1,011,540, Rp804,849, Rp808,898, and Rp900,614.