PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
68
15. INVESTMENTS IN SHARES OF STOCK continued
a. The details of investments in shares of stock are as follows: continued The details of investments in shares of stock as of June 30, 2003 are as follows:
Accumulated Equity
Investee Percentage of
in Retained Earnings Companies
Nature of Business Ownership
Cost Accumulated Losses
Carrying value Equity Method of Accounting:
PT Sarana Bersama Pembiayaan Indonesia
Holding company 34.00
2,278 2,881
5,159 PT Bapindo Bumi
Insurance Securities Sekuritas
trading 19
2,750 197
2,947 8,106
Cost Method of Accounting: PT Bank Internasional
Indonesia Tbk, Bank
2.00 10,175
10,715 PT Semen Kupang
a
Manufacturing 59.70 45,023
45,023 PT Sri Thai
a
Manufacturing na 23,055
23,055 PT Kertas Padalarang
a
Pulp and
paper 51.50
9,530 9,530
PT Kustodian Sentral Security
Efek Indonesia custodian
16.00 4,800
4,800 PT Bunas Finance
Internasional Tbk,
a
Finance na 3,889
3,889 PT Pisita Wisata
a
Tourism 16.00 658
658 PT Mega Guna
Corporate
a
Construction 24.00 200
200 Maskapai Pelayaran
Laut Shipping
8.50 95
95 PT Bursa Efek
Surabaya Stock exchange
2.22 75
75 PT Bursa Efek Jakarta
Stock exchange 0.50
60 60
PT Pemeringkat Efek Securities
Indonesia rating agency
4.29 429
429 Others Various
3,584 3,584
102,113 Total
110,219 Less: Allowance for possible losses
32,454 77,765
a These investments, regardless of percentage of ownership, represent restructured loans through debt to equity participations Note 13. Such investments are temporary investments for up to a maximum of five 5 years based on
Bank Indonesia regulations. Accordingly, such investments are accounted for using the cost method regardless of the percentage of ownership, effective January 1, 2001.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
69
15. INVESTMENTS IN SHARES OF STOCK continued
a. The details of investments in shares of stock are as follows: continued The details of investments in shares of stock as of April 30, 2003 are as follows:
Accumulated Equity
Investee Percentage of
in Retained Earnings Companies
Nature of Business Ownership
Cost Accumulated Losses Carrying value
Equity Method of Accounting: PT Sarana Bersama
Pembiayaan Indonesia Holding company
34.00 2,278
2,881 5,159
PT Bapindo Bumi Insurance Securities
Sekuritas Trading
19 2,750
197 2,947
8,106 Cost Method of Accounting:
PT Bank Internasional Indonesia Tbk,
Bank 2.00
50,400 50,400
PT Semen Kupang
a
Manufacturing 59.70 45,023
45,023 PT Sri Thai
a
Manufacturing na 23,055
23,055 PT Kertas Padalarang
a
Pulp and
paper 51.50
9,530 9,530
PT Kustodian Sentral Securities
Efek Indonesia custodian
16.00 4,800
4,800 PT Bunas Finance
Internasional Tbk,
a
Finance na 3,889
3,889 PT Pisita Wisata
a
Tourism 16.00 658
658 PT Mega Guna Concrete
a
Construction 24.00
200 200
Maskapai Pelayaran Laut Shipping 8.50
95 95
PT Bursa Efek Surabaya
Stock exchange 2.22
75 75
PT Bursa Efek Jakarta Stock exchange
0.50 60
60 PT Pemeringkat Efek
Securities Indonesia
rating agency 4.29
429 429
Others 3,584
3,584 141,798
Total 149,904
Less: Allowance for possible losses 27,633
122,271
a These investments, regardless of percentage of ownership, represent restructured loans through debt to equity participations Note 13. Such investments are temporary investments for up to a maximum of five 5 years based on
Bank Indonesia regulations. Accordingly, such investments are accounted for using the cost method regardless of the percentage of ownership, effective January 1, 2001.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
70
15. INVESTMENTS IN SHARES OF STOCK continued
