UTANG NASABAH Lanjutan PAYABLE TO CUSTOMERS Continued UTANG KEGIATAN MANAJER INVESTASI BIAYA MASIH HARUS DIBAYAR ACCRUED EXPENSES

in Indonesian Language Ekshibit E52 Exhibit E52 PT PANIN SEKURITAS Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2015 Disajikan dalam Rupiah, kecuali dinyatakan lain PT PANIN SEKURITAS Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 Expressed in Rupiah, unless otherwise stated 17. UTANG NASABAH Lanjutan 17. PAYABLE TO CUSTOMERS Continued Utang nasabah non-kelembagaan adalah utang atas transaksi dengan nasabah pemilik rekening efek pada Grup. Non-institutional customer payables represent payables from transactions with customers owning securities account in the Group. Nilai tercatat utang nasabah mendekati nilai wajarnya karena jatuh temponya dalam jangka pendek. The carrying amount of payable to customers approximate their fair values due to their short-term nature. Pada tanggal laporan posisi keuangan konsolidasian, seluruh utang nasabah regular dan marjin adalah dalam Rupiah Indonesia. As at consolidated statements of financial position date, all payable to regular and margin customers are denominated in Indonesian Rupiah.

18. UTANG KEGIATAN MANAJER INVESTASI

18. PAYABLES TO INVESTMENT MANAGER 2 0 1 5 2 0 1 4 Pihak ketiga Third parties Utang komisi agen penjualan 711.311.483 1.222.516.550 Debt commission sales agents Nilai tercatat utang kegiatan manajer investasi mendekati nilai wajarnya karena jatuh temponya dalam jangka pendek. The carrying amount of payables to investment manager approximate their fair values due to their short-term nature. Utang kegiatan manajer investasi dicatat sebesar biaya perolehan diamortisasi dalam laporan keuangan konsolidasian mendekati nilai tercatatnya karena jatuh temponya dalam jangka pendek atau menggunakan suku bunga pasar yang berlaku. Payables to investment manager recorded at amortized cost in the consolidated financial statements approximate their fair values because of their short-term maturities or they carry prevailing market interest rates. Pada tanggal laporan posisi keuangan konsolidasian, seluruh utang kegiatan manajer investasi adalah dalam Rupiah Indonesia. As at consolidated statements of financial position date, all payables from investment manager are denominated in Indonesian Rupiah. 19. BIAYA MASIH HARUS DIBAYAR 19. ACCRUED EXPENSES 2 0 1 5 2 0 1 4 Beban transaksi efek 3.833.461.024 4.841.857.267 Securities trading charges Beban komisi 1.455.334.363 877.269.720 Commission expenses Beban bunga utang bank 88.736.110 81.472.222 Interest bank loan expenses Lain-lain 1.096.603.933 388.068.087 Others J u m l a h 6.474.135.430 6.188.667.296 T o t a l 20. PERPAJAKAN 20. TAXATION