Other Liabilities SMMA 2014AR. SMMA 2014AR

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 Deferred Tax Credited Credited Credited charged in charged in charged in consolidated consolidated January 1, 2013 consolidated statement of statement of December 31, statement of comprehensive December 31, comprehensive December 31, 2012 financial position income 2013 income 2014 Deferred Tax Assets Deferred tax assets liabilities: Fiscal losses 1,006 - 1,006 - - - Long-term employee benefit expense 123 - 28 151 88 239 Depreciation expense 8 - 8 - - - Employee loans 14 - 14 - - - Total - the Company 1,151 - 1,000 151 88 239 Subsidiaries 52,714 - 24,633 28,081 12,214 40,295 Total 53,865 - 25,633 28,232 12,302 40,534 Deferred Tax Liabilities Subsidiaries 59,507 6,852 16,192 82,551 12,741 95,292 Management believes that deferred tax assets on temporary difference can be realized in the future. In December 2007, the Government issued a regulation relating to a tax rate reduction of 5 from the applicable tax rates for publicly listed entities effective January 1, 2008, if they comply with certain requirements relating to shareholding composition. Effective on November 21, 2013, regulation has changed with PP No. 77 Tahun 2013 with certain additional requirement has provided a tax rate reduction of 5. A reconciliation between the income before tax per consolidated statements of comprehensive income and fiscal losses is as follows: 2014 2013 Income before tax per consolidated statements of comprehensive income 1,314,083 1,497,806 Deduct: Share in net income of subsidiaries 1,163,657 405,967 Income before tax of the Company 150,426 1,091,839 Tax expense at effective tax rates 30,085 218,368 Tax effects of permanent differences: Depreciation expense 982 1,287 Other expenses 863 182 Interest income 3,577 5,521 Rent income 1,963 1,582 Gain from investment in units of mutual funds 14,066 1,225 Gain on sale of investment in shares 229 21,805 Share in net income of associates 1,889 4,298 General and administrative expenses 1,353 - Total 18,526 10,648 Unrecognized deferred tax asset on fiscal losses recovery - 5,343 Tax expense of the Company 11,559 223,673 Tax expense of the subsidiaries 92,835 151,931 Total 104,394 375,604 - 105 - 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

49. Earnings Per Share

2014 2013 Net income for computation of basic earnings per share and diluted earnings per share 1,008,382 1,213,374 Weighted average number of ordinary shares for computation of diluted earnings per share 6,237,808,717 6,236,872,901 Basic earning per share 162 195

50. Nature of Relationship and Transactions with Related Parties Nature of Relationship

Other than the key management personnel, the related parties of the Company represent companies under the Sinar Mas Group of companies: a. Stockholders included ultimate stockholder of the Company. b. The companies which have the same stockholder with the Company, directly or indirectly. c. The companies which are controlled by family members of stockholders and key management of the Company. Transactions with Related Parties In the normal course of business, the Group entered into certain transactions with related parties. a. Significant balances with related parties in the consolidated statements of financial position as of consolidated statement of financial position dates are as follows: Percentage to Percentage to Total Assets Total Assets Total Liabilities Total Liabilities ASSETS Short-term investments 1,340,807 2.00 1,236,438 3.00 Factoring receivables 69,825 0.00 70,084 0.00 Premium and reinsurance receivables 234,057 0.00 117,809 0.00 Loans 818,780 2.00 944,678 2.00 Receivables from brokers 67,993 0.00 1,834 0.00 Other receivables 14,636 0.00 14,642 0.00 Other assets 42,072 0.00 61,278 0.00 Total Assets 2,588,170 4.00 2,446,763 5.00 LIABILITIES Deposits and deposits from other banks 2,534,085 7.00 2,996,072 9.00 Insurance payables 33,725 0.00 12,709 0.00 Unearned premium and estimated claims liability 755,426 2.00 458,290 1.00 Payables to brokers - 0.00 1,264 0.00 Accrued expenses 3,252 0.00 3,366 0.00 Other liabilities 2,700 0.00 3,330 0.00 Total Liabilities 3,329,188 9.00 3,475,031 10.00 2014 2013 - 106 -