PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
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57
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14. INVESTMENTS IN SHARES OF STOCK
a. The details of investments in shares of stock are as follows:
2002 2001
Equity method of accounting 8,106
8,106 Cost method of accounting
141,797 87,547
Total 149,903
95,653 Less: Allowance for possible losses
62,807 26,377
87,096 69,276
The details of investments in shares of stock as of December 31, 2002 are as follows:
Accumulated Equity in Percentage
Retained Earnings
Carrying Investee Company
Nature of Business of Ownership
Cost Accumulated Losses
Value Equity Method of Accounting:
PT Sarana Bersama Pembiayaan Indonesia
Holding company 34.00
2,278 2,881
5,159 PT Bapindo Bumi
Sekuritas Securities trading
26.19 2,750
197 2,947
8,106 Cost Method of Accounting:
PT Bank Internasional Indonesia Tbk.
Banking 2.00
50,400 50,400
PT Semen Kupang
a
Manufacturing 59.70
45,023 45,023
PT Sri Thai
a
Manufacturing 23,055
23,055 PT Kertas Padalarang
a
Pulp and paper 51.50
9,530 9,530
PT Kustodian Sentral Efek Indonesia
Security custodian 16.00
4,800 4,800
PT Bunas Finance Internasional Tbk.
a
Finance NA 3,889
3,889 PT Pisita Wisata
a
Tourism 16.00 658
658 PT Mega Guna
Concrete
a
Construction 24.00
200 200
Maskapai Pelayaran Laut
Shipping 8.50
95 95
PT Bursa Efek Surabaya
Stock exchange 2.22
75 75
PT Bursa Efek Jakarta Stock exchange
0.50 60
60 PT Pemeringkat Efek
Indonesia Security rating
4.29 429
429 Others
3,583 3,583
141,797 Total
149,903 Less: Allowance for possible losses
62,807 87,096
a These investments, regardless of percentage of ownership, represent restructured loans through debt to equity participations Note 12. Such investments are temporary investments for up to a maximum of five 5 years based on Bank Indonesia regulations. Accordingly,
such investments are accounted for using the cost method regardless of the percentage of ownership, effective January 1, 2001.
PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
-
58
-
14. INVESTMENTS IN SHARES OF STOCK Continued
a. The details of investments in shares of stock as of December 31, 2001 are as follows:
Accumulated Equity in Percentage
Retained Earnings
Carrying Investee Company
Nature of Business of Ownership
Cost Accumulated Losses
Value Equity Method of Accounting:
PT Sarana Bersama Pembiayaan Indonesia
Holding company 34.00
2,278 2,881
5,159 PT Bapindo Bumi Sekuritas Securities trading
26.19 2,750
197 2,947
PT Exim SB Leasing Financing
50.00 25,000
25,000 -
8,106 Cost Method of Accounting:
PT Semen Kupang
a
Manufacturing 59.70
45,023 45,023
PT Sri Thai
a
Manufacturing 23,055
23,055 PT Kertas Padalarang
a
Pulp and paper 51.50
9,530 9,530
PT Kustodian Sentral Efek Indonesia
Security custodian 16.00
4,800 4,800
PT Pisita Wisata
a
Tourism 16.00 658
658 PT Mega Guna Concrete
a
Construction 24.00
200 200
Maskapai Pelayaran Laut Shipping
8.50 95
95 PT Bursa Efek Surabaya
Stock exchange 2.22
75 75
PT Bursa Efek Jakarta Stock exchange
0.50 60
60 PT Pemeringkat Efek
Indonesia Security rating
4.29 429
429 Others
3,622 3,622
87,547 Total
95,653 Less: Allowance for possible losses
26,377 69,276
a These investments, regardless of percentage of ownership, represent restructured loans through debt to equity participations Note 12. Such investments are temporary investments for up to a maximum of five 5 years based on Bank Indonesia regulations. Accordingly,
such investments are accounted for using the cost method regardless of the percentage of ownership, effective January 1, 2001.
