Net Investments in Finance Lease

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

15. Other Accounts Receivable

2014 2013 Policy loans 1,823,799 343,744 Interest receivables 149,164 172,616 Mortgage receivables 26,885 26,086 Claims receivable 11,847 6,851 Loans employees and marketing agents 7,002 7,196 Receivables on sale of stocks 736 4,063 Others 86,014 63,334 Total 2,105,447 623,890 Allowance for impairment losses 134 139 Net 2,105,313 623,751 Policy loans represent policy cash value provided in the form of loans to the policyholders. The details of policy loans are as follows: 2014 2013 Rupiah 1,697,297 322,390 Foreign currency Note 51 126,502 21,354 Total 1,823,799 343,744 Interest rate per annum are as follows: Rupiah 6.00 - 18.00 6.50 - 14.00 Foreign currency 2.35 - 7.00 1.85 - 6.00 Interest receivables consist of interest from time deposits, bonds and factoring receivables. Mortgage receivables represent loans cash value provided by ASM and AJSM, subsidiaries, to their employees and third parties for purchase of land or building. Mortgage loans granted to employees bear special interest rate while those granted to third parties bear prevailing market interest rate. Payments are made through monthly installment. These receivables are collateralized with land or building’s certificate of ownership. Claims receivable represent receivables from policyholders in relation to payment of claims by subsidiaries in excess of the insurance limit of policyholders. As of December 31, 2014 and 2013, the consolidated balance of other accounts receivable from related parties amounted to Rp 14,636 and Rp 14,642, respectively Note 50. The changes in allowance for impairment losses on other receivables are as follows: 2014 2013 Balance at the beginning of the year 139 281 Recoveries during the year 5 142 Balance at the end of the year 134 139 Management believes that the allowance for impairment losses on other receivables as of December 31, 2014 and 2013 is adequate to cover the possible losses which might arise from uncollectible other receivables. - 78 - 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

16. Reinsurance Assets

2014 2013 Estimated claim liability 786,085 355,517 Unearned premium 260,689 484,495 Premium in advance 132,059 607,758 Total 1,178,833 1,447,770

17. Investment in Shares of Stock

As of December 31, 2014 and 2013, investment in shares with percentage of ownership of below 20 are categorized as available for sale AFS financial assets and in the absence of basis of fair value are stated at acquisition cost. 2014 2013 The Companys investment in shares of stock Equity method 284,342 275,324 Subsidiaries investments in shares of stock Equity method 285,942 187,495 AFS - acquisition cost 69,706 67,529 Fair value - temporary investment 173,800 - Total 529,448 255,024 Total 813,790 530,348

a. The Company’s Investments in Shares of Stock

Beginning Ending Percentage Investment Share in Investment of ownership January 1 net income Divesment December 31 Equity Method Associates PT Asuransi Jiwa Mega Life 50.00 256,930 9,310 - 266,240 PT Panji Ratu Jakarta 21.02 17,967 135 - 18,102 PT JobStreet Indonesia 40.00 427 - 427 - Total 275,324 9,445 427 284,342 2014 Beginning Ending Percentage Investment Share in Investment of ownership January 1 net income Divesment December 31 Equity Method Associates PT Asuransi Jiwa Mega Life 50.00 236,272 20,658 - 256,930 PT Panji Ratu Jakarta 21.02 17,728 239 - 17,967 PT Super Wahana Tehno 35.19 10,455 166 10,621 - PT JobStreet Indonesia 40.00 - 427 - 427 Total 264,455 21,490 10,621 275,324 2013 - 79 -