PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
65
15. OTHER ASSETS
2006 2005
Receivables -
3,511,631 Accrued
income 1,854,067 1,219,078
Others 3,933,297 2,433,328
5,787,364 7,164,037
Receivables Receivables from the accretion in realizable value of the zero coupon instruments and deposits placed
with foreign institutions which serve as security for certain Subordinated Undated Floating Rate Notes SUFRNs which were issued by Bank Exim and BDN, and the effective reduction in the principal liability
of the SUFRNs which were issued by Bapindo, are as follows:
2006 2005
SUFRNs classified as subordinated loans Note 29 Bapindo
SUFRNs -
1,178,833 Bank Exim SUFRNs
- 1,121,538
- 2,300,371
SUFRNs classified as loan capital Note 30
BDN SUFRNs
- 1,211,260
- 3,511,631
On July 27, 2005, November 30, 2005 and December 21, 2005 the Bank executed the option to repurchase Bank Exim, Bapindo and BDN SUFRNs and the Bank has compensated the related
receivables with the aggregate nominal amount of Bank Exim, Bapindo and BDN SUFRNs Note 29, 30. Accrued Income
Accrued income primarily comprises accrued interest receivable from placements, securities, Government Recapitalization Bonds, loans, and accrued fees and commissions.
Others
2006 2005
Rupiah: Abandoned
property 442,794
274,149 Prepaid
expenses 404,357
400,081 Receivables from customer transactions
244,489 588,389
Repossessed assets
188,383 199,500
Interbranch account – net 166,245
- Prepaid
taxes 24,526
420,058 Receivables from financial institutions
- 76,643
Office supplies
- 60,675
Deferred charge
- 10,819
Others 1,877,044
1,842,943 Total Rupiah
3,347,838 3,873,257
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
66
15. OTHER ASSETS continued
Others continued
2006 2005
Foreign Currency: Interbranch account – net
- 467,561
Others 843,526
179,656 Total Foreign Currency
843,526 647,217
Total 4,191,364
4,520,474 Less: Allowance for possible losses
258,067 2,087,146
3,933,297 2,433,328
Abandoned property is the fixed assets in the form of property owned by the Bank but is not utilized for the Bank’s general operational activities.
Prepaid expenses consist of payments made in advance mostly relating to rent and insurance. Receivables from customer transactions primarily consist of securities transactions from PT Mandiri
Sekuritas subsidiary. Prepaid taxes as of June 30, 2006 and 2005 primarily comprised of corporate income tax installments and
others. Included in others is purchased loans from IBRA amounting to RpNil and Rp2,274 as of June 30, 2006
and 2005, respectively which related cessie agreements to these loans are still in the process of finalization Note 11. As of June 30, 2006 all related cessie agreements to loans from IBRA have been
finalized.
The allowance for possible losses amounting to Rp258,067 and Rp2,087,146 as of June 30, 2006 and 2005, respectively, was primarily to cover possible losses arising from inter-branch accounts and other
assets. The inter-branch accounts consist of open items among branches and Head Office. Bank Mandiri’s management is of the opinion that the provision is adequate to cover possible losses arising
from other assets. Movement of allowance for possible losses on other assets are as follows:
2006 2005
Balance at beginning of period 427,225
1,880,346 ProvisionReversal during the period
7,315 225,381
Others 176,473
432,181
Balance at end of period 258,067
2,087,146 Includes effect of foreign currency translation.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
67
16. DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS
