PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 110 -
46. Other Income
2011 2010
Rp 000,000 Rp 000,000
Dividend income 37,769
26,643 Interest income - current account
37,362 3,839
Service center income 20,388
14,228 Investment income of the subsidiaries
12,197 971
Charges income 10,333
18,519 Printing insurance policy income
10,192 9,938
Recovery of impairment losses of foreclosed properties 4,225
- Others
29,703 21,747
Total 162,169
95,885
Service center income were earned by JTUM, a subsidiary. Devidend income in 2011 and 2010, earned by short term investment.
Others include service income from Unit Link policyholders, gain on sale of property and equipment Note 19, and other income.
47. Insurance Underwriting Expenses
2011 2010
Rp 000,000 Rp 000,000
Gross claims 11,419,483
7,997,292 Reinsurance claims
45,286 93,768
Increase decrease in liability for future policy benefits Note 28 5,215,117
891,619 Increase decrease in segregated fund contract liabilities -
unit link 2,506,291
3,688,892 Commission - net
403,697 325,927
Increase in estimated own retention claims Note 29 22,306
59,344 Increase in segregated fund contract liabilities - sharia
27,655 17,842
Other underwriting expense 21,238
3,167 Total
14,557,919 11,107,077
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 111 -
48. Interest Expense
2011 2010
Rp 000,000 Rp 000,000
Time deposits 618,198
361,781 Loans received
89,101 55,374
Savings deposits 85,746
59,512 Current account
39,345 37,330
Premiums on Government guarantee 26,347
17,912 Securities sold under repurchase agreement
1,428 -
Deposits and deposits from other banks 972
4,158 Others
35,406 1,741
Total 896,543
537,808
49. General and Administrative Expenses
2011 2010
Rp 000,000 Rp 000,000
General 118,183
80,327 Marketing and advertising
96,561 47,171
Electricity, water, and telephone 96,310
72,339 Rental
49,743 41,566
Office supplies 33,605
25,214 Administration
31,650 18,790
Professional fees 21,470
14,871 Defined-benefit post employment expense - net Note 50
14,363 26,811
Total 461,885
327,089
50. Employee Benefits
Post-Employment Benefits
The Group determine post-employment benefits based on Law No. 13 Year 2003, dated March 25, 2003. No funding of the benefits has been made to date by the Group.
As of December 31, 2011 and 2010, the actuarial valuation report on the pension fund and the defined-benefit post employment reserve of the Group except AJSM was from an independent
actuary.
As of December 31, 2011 and 2010, the actuarial valuation report on the pension fund and the defined-benefit post employment reserve of AJSM was from AJSM’ internal actuary.
