Securities Purchased Under Agreements to Resell Consumer Financing Receivables

PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated

12. Acceptance Receivables and Payables

a. Acceptance Receivables 2014 2013 Third parties Rupiah 37,015 - Foreign currencies Note 51 30,821 238,324 Total 67,836 238,324 Based on maturity date, acceptance receivables and payables are 1 year or less. No allowance for impairment losses was provided on acceptances receivables as management believes that all such acceptances receivable are collectible. b. Acceptance Payables Acceptance payables represent payables to other banks – third parties.

13. Ijarah Assets

As of December 31, 2014 and 2013, this account represents the object of the Ijarah lease transactions with an option to transfer the Muntahiyah Bittamlik object property to lessee. January 1, Transfer to the lessee December 31, 2014 Additions at the end of contract 2014 Cost Vehicles 30,400 3,636 20,472 13,564 Heavy equipment 4,227 - 1,227 3,000 Machineries 2,354 4,174 278 6,250 Multiservice assets 14,565 109 8,936 5,738 Freehold title 16,895 4,000 15,298 5,597 Houses - 900 900 - Home office - 200 200 - Others 57,574 117,026 35,016 139,584 Total 126,015 130,045 82,327 173,733 Accumulated depreciation Vehicles 7,729 2,219 6,012 3,936 Heavy equipment 4,503 463 3,114 1,852 Machineries 1,660 2,978 278 4,360 Multiservice assets 1,242 2,944 2,639 1,547 Freehold title 2,794 1,759 4,120 433 Others 3,531 129,270 66,164 66,637 Total 21,459 139,633 82,327 78,765 Allowance for impairment losses - 10,788 - 10,788 Net Book Value 104,556 84,180 Changes during the year 2014 - 76 - PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated January 1, Transfer to the lessee December 31, 2013 Additions at the end of contract 2013 Cost Vehicles 19,227 18,838 7,665 30,400 Heavy equipment 18,000 1,227 15,000 4,227 Machineries 6,552 - 4,198 2,354 Multiservice assets 14,565 - - 14,565 Electronic 11 - 11 - Freehold title 16,830 177 112 16,895 Bicycle 3 - 3 - Document - 64 64 - Houses 3 - 3 - Others - 61,734 4,160 57,574 Total 75,191 82,040 31,216 126,015 Accumulated depreciation Vehicles 14,370 1,024 7,665 7,729 Heavy equipment 9,654 9,849 15,000 4,503 Machineries 1,917 3,941 4,198 1,660 Multiservice assets 1,242 - - 1,242 Electronic 6 5 11 - Freehold title 1,487 1,419 112 2,794 Bicycle 1 2 3 - Houses 1 2 3 - Document - 64 64 - Others - 7,691 4,160 3,531 Total 28,678 23,997 31,216 21,459 Net Book Value 46,513 104,556 Changes during the year 2013

14. Receivables From Brokers

2014 2013 Receivables from customers 135,827 287,927 Receivables from PT KPEI 117,739 82,085 Commissions receivable 9,823 8,532 Others 37 - Total 263,426 378,544 Receivables from PT Kliring Penjaminan Efek Indonesia KPEI and receivables from customers pertain to receivables in relation to purchases and sales of shares and other securities net which have not yet been received as of consolidated statement of financial position date. As of December 31, 2014 and 2013, the balance of receivables from brokers from related parties amounted to Rp 67,993 and Rp 1,834, respectively Note 50. Management did not provide allowance for impairment losses on receivables from brokers because management believes that all such receivables are collectible. - 77 - PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated

15. Other Accounts Receivable

2014 2013 Policy loans 1,823,799 343,744 Interest receivables 149,164 172,616 Mortgage receivables 26,885 26,086 Claims receivable 11,847 6,851 Loans employees and marketing agents 7,002 7,196 Receivables on sale of stocks 736 4,063 Others 86,014 63,334 Total 2,105,447 623,890 Allowance for impairment losses 134 139 Net 2,105,313 623,751 Policy loans represent policy cash value provided in the form of loans to the policyholders. The details of policy loans are as follows: 2014 2013 Rupiah 1,697,297 322,390 Foreign currency Note 51 126,502 21,354 Total 1,823,799 343,744 Interest rate per annum are as follows: Rupiah 6.00 - 18.00 6.50 - 14.00 Foreign currency 2.35 - 7.00 1.85 - 6.00 Interest receivables consist of interest from time deposits, bonds and factoring receivables. Mortgage receivables represent loans cash value provided by ASM and AJSM, subsidiaries, to their employees and third parties for purchase of land or building. Mortgage loans granted to employees bear special interest rate while those granted to third parties bear prevailing market interest rate. Payments are made through monthly installment. These receivables are collateralized with land or building’s certificate of ownership. Claims receivable represent receivables from policyholders in relation to payment of claims by subsidiaries in excess of the insurance limit of policyholders. As of December 31, 2014 and 2013, the consolidated balance of other accounts receivable from related parties amounted to Rp 14,636 and Rp 14,642, respectively Note 50. The changes in allowance for impairment losses on other receivables are as follows: 2014 2013 Balance at the beginning of the year 139 281 Recoveries during the year 5 142 Balance at the end of the year 134 139 Management believes that the allowance for impairment losses on other receivables as of December 31, 2014 and 2013 is adequate to cover the possible losses which might arise from uncollectible other receivables. - 78 -