PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2013 AND 2012
Expressed in millions of Rupiah, unless otherwise stated
Appendix 58 1. GENERAL continued
g. Subsidiaries and Associates continued PT Mandiri Sekuritas continued
On 28 December 2012, the Bank made additional equity investments in Subsidiary, amounted to Rp29,512. The Bank has obtained an approval from Bank Indonesia through a letter dated 31
October 2012 and the approval from Decision Out of Meeting of Shareholder circular resolution dated 27 December 2012 on the increase in capital. Through this additional capital, the share
ownership of Bank Mandiri in Mandiri Sekuritas increased from 95.69 to 99,99 of the total issued shares in Mandiri Sekuritas.
PT Bank Sinar Harapan Bali
PT Bank Sinar Harapan Bali “BSHB” was established on 3 November 1992 based on the notarial deed No. 4 of Ida Bagus Alit Sudiatmika, S.H., in Denpasar. BSHB obtained its license based on the
decision letter of the Minister of Finance of the Republic of Indonesia No. 77KMK.0171994 and officially commenced its operations on 10 March 1999. On 3 May 2008, the signing of the
acquisition deed was made between the shareholders of BSHB and Bank Mandiri as covered in the acquisition deed No. 4 dated 3 May 2008 of I Wayan Sugitha, S.H., in Denpasar. The signing deed
marked the beginning of the Bank’s 80.00 ownership of BSHB whereby subsequently, BSHB was managed separately and independently from Bank Mandiri. BSHB is treated as a stand alone bank
in order to predominantly focus on the expansion of Micro Business and Small Business.
On 22 October 2009, the Bank increased its share ownership in BSHB by 1.46 of the total issued and fully paid shares or equivalent to Rp1,460,657,000 full amount by purchasing all of the shares
owned by BSHB’s President Director of 2,921,314 shares as documented in Shares Sales-Purchase Agreement No. 52 of notary Ni Wayan Widastri, S.H., dated 22 October 2009 in Denpasar, Bali.
The increase of Bank Mandiri’s share ownership in BSHB was conducted in order to meet Bank Indonesia’s requirements regarding Good Corporate Governance, as the BSHB’s President Director
must be an independent party of BSHB. Bank Mandiri has obtained an approval from Bank Indonesia through its letter No. 11103DPB1TPB1-1 dated 21 August 2009 for the additional
capital in BSHB. Through this additional
capital, the Bank’s ownership in BSHB increased from 80.00 to 81.46 of the total issued shares by BSHB with a total investment value increased to Rp81,461 from
Rp80,000. On 28 May 2013, the Bank made an additional investment in BSHB, of 11.77 from the total shares
issued and fully paid or amounted to Rp32,377,072,750 full amount, by purchasing
BSHB’s shares owned by several minority shareholders amounted to 23,546,962 shares full amount. Bank Mandiri
has obtained an approval from Bank Indonesia through its letter No.1533DPB1PB1-1 dated 6 May 2013 for the additional capital in BSHB.
Goodwill arising from the acquisition of BSHB amounted to Rp19,219 was amortised over 5 five years on a straight line basis as it represented the estimated economic life. As at 31 December
2010, the unamortised goodwill balance amounted to Rp8,969. With the additional capital in May 2013, the goodwill balance of BSHB becomes Rp21,043. Effective 1 January 2011, the Bank
ceased the amortisation of goodwill and will regularly asses and evaluate goodwill impairment in accordance with SFAS No.
22 “Business Combination” refer to Note 2s.
