PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011
Figures are Presented in Millions of Rupiah, unless Otherwise Stated
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45. Other Income
As Restated - Note 62
December 31, December 31,
2012 2011
Dividend income 27,284
37,769 Service center income
23,779 20,388
Interest income - current account 17,417
37,362 Printing insurance policy income
9,111 10,192
Income from penalties 8,665
10,333 Share in net income of associates - net
- 10,775
Others 38,642
29,703 Total
124,898 156,522
Service center income were earned by JTUM, a subsidiary. Dividend income in 2012 and 2011, were earned from short term investments.
Others include service income from Unit Link policyholders Link, gain on sale of property and equipment Note 19, and other income.
46. Insurance Underwriting Expenses
As Restated - Note 62
December 31, December 31,
2012 2011
Gross claims 10,854,521
11,419,483 Reinsurance claims
141,657 45,286
Increase in liability for future policy benefits Note 26 2,262,842
5,215,117 Decrease in segregated fund contract liabilities -
unit link 605,093
2,506,291 Commission - net
387,141 403,697
Increase in insurance contract liabilities 141,780
40,586 Increase in estimated claims liabilities Note 27
43,541 22,306
Other underwriting expense 41,366
48,893 Total
12,984,441 14,598,505
47. Interest Expense
December 31, December 31,
2012 2011
Time deposits 408,959
618,198 Savings deposits
147,387 85,746
Loans received 115,681
89,101 Current account
60,022 39,345
Premiums on Government guarantee 29,216
26,347 Deposits and deposits from other banks
2,741 972
Securities sold under repurchase agreement 482
1,428 Others
69 35,406
Total 764,557
896,543
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011
Figures are Presented in Millions of Rupiah, unless Otherwise Stated
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48. General and Administrative Expenses
December 31, December 31,
2012 2011
General 165,883
118,183 Marketing and advertising
163,699 96,561
Electricity, water, and telephone 141,267
96,310 Rental
77,705 49,743
Office supplies 49,617
33,605 Administration
42,931 31,650
Professional fees 32,436
21,470 Defined-benefit post employment expense Note 49
22,350 14,363
Total 695,888
461,885
49. Long Term Employee Benefits Liability
The Group determines long term employee benefits liability based on Law No. 13 Year 2003, dated March 25, 2003. No funding of the benefits has been made to date by the Group.
As of December 31, 2012, 2011, 2010, 2009 and 2008, the last actuarial valuation report on the the long term employee benefit liability of the Group was from an independent actuary.
A reconciliation of the amount of long-term employee benefits liability presented in the consolidated statements of financial position is as follows:
2012 2011
2010 2009
2008 Present value of unfunded
long-term employee benefit liability 144,618
95,968 69,839
39,742 23,758
Unrecognized actuarial gains losses
47,047 19,151
5,362 731
3,327 Unrecognized past service costs
733 29
30 32
34 Long-term employee benefits liability
96,838 76,788
64,447 38,979
27,051
Following are details of long-term employee benefits expense:
December 31, December 31,
2012 2011
Current service costs 17,849
9,855 Interest costs
5,485 3,439
Amortization actuarial gain 3,927
1,067 Past service costs
18,002 2
Actuarial adjustments 22,913
- Defined-benefit post-employment reserve at end of the year
22,350 14,363
Movements of long term employee benefit liability are as follows:
December 31, December 31,
2012 2011
Long term employee benefit liability at beginning of the year 76,788
64,447 Long term employee benefit expense during the year Note 48
22,350 14,363
Payments during the year 2,300
2,022 Long term employee benefit liability at end of the year
96,838 76,788
