IKHTISAR KEBIJAKAN AR MDRN Compiled 2016

originally issued in Indonesian language c k shibit E 45 Exhibit E45 PT MODERN INTERNASIONAL Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN UNTUK TAHUN YANG BERAKHIR PADA 31 DESEMBER 2016 Disajikan dalam Rupiah, kecuali dinyatakan lain PT MODERN INTERNASIONAL Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 Expressed in Rupiah, unless otherwise stated 12. INVESTASI PADA ENTITAS ASOSIASI Lanjutan 12. INVESTMENT IN AN ASSOCIATE Continued 31 Desember 2016 31 December 2016 Entitas asosiasi Associate Pada awal periode At the beginning of the period Penambahan Addition Bagian atas laba neto Share in net income Pengurangan Deduction Pada akhir periode At the end of the period PT Saison Modern Finance 30.720.985.851 - 294.527.721 - 31.015.513.572 31 Desember 2015 31 December 2015 Entitas asosiasi Associate Pada awal periode At the beginning of the period Penambahan Addition Bagian atas laba neto Share in net income Pengurangan Deduction Pada akhir periode At the end of the period PT Saison Modern Finance - 30.000.000.000 720.985.851 - 30.720.985.851 Ikhtisar informasi keuangan entitas asosiasi adalah sebagai berikut: The summary of financial information of the associate are as follows: PT Saison Modern Finance 31 Desember 2016 31 December 2016 31 Desember 2015 31 December 2015 Aset lancar 100.183.038.679 99.068.723.303 Current assets Aset tidak lancar 3.653.868.040 4.543.816.766 Non-current assets Liabilitas jangka pendek 451.861.480 1.209.253.898 Current liabilities Liabilitas jangka panjang - - Non-current liabilities Aset neto 103.385.045.239 102.403.286.171 Net assets Persentase kepemilikan 30 30 Percentage ownership Total tercatat 31.015.513.572 30.720.985.851 Carrying amount PT Saison Modern Finance 31 Desember 2016 31 December 2016 31 Desember 2015 31 December 2015 Pendapatan 7.003.952.509 3.600.927.856 Revenues Beban pokok pendapatan 629.843.342 42.368.641 Cost of revenues Beban umum dan administratif 5.389.009.995 809.002.628 Gross profit Beban lain-lain, Neto 3.340.104 346.270.416 Other expense, net Laba sebelum pajak 981.759.068 2.403.286.171 Income before tax Pajak penghasilan - - Income tax Penghasilan komprehensif lainnya - - Other comprehensive income Total laba komprehensif 981.759.068 2.403.286.171 Total comprehensive income Pada tanggal 31 Desember 2016 dan 2015 berdasarkan pengujian yang dilakukan manajemen, tidak terdapat penurunan nilai atas investasi pada entitas asosiasi. As of 31 December 2016 and 2015, based on impairment test performed by management, there is no impairment on investment in an associate.