PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 111 -
48. Interest Expense
2011 2010
Rp 000,000 Rp 000,000
Time deposits 618,198
361,781 Loans received
89,101 55,374
Savings deposits 85,746
59,512 Current account
39,345 37,330
Premiums on Government guarantee 26,347
17,912 Securities sold under repurchase agreement
1,428 -
Deposits and deposits from other banks 972
4,158 Others
35,406 1,741
Total 896,543
537,808
49. General and Administrative Expenses
2011 2010
Rp 000,000 Rp 000,000
General 118,183
80,327 Marketing and advertising
96,561 47,171
Electricity, water, and telephone 96,310
72,339 Rental
49,743 41,566
Office supplies 33,605
25,214 Administration
31,650 18,790
Professional fees 21,470
14,871 Defined-benefit post employment expense - net Note 50
14,363 26,811
Total 461,885
327,089
50. Employee Benefits
Post-Employment Benefits
The Group determine post-employment benefits 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, 2011 and 2010, the actuarial valuation report on the pension fund and the defined-benefit post employment reserve of the Group except AJSM was from an independent
actuary.
As of December 31, 2011 and 2010, the actuarial valuation report on the pension fund and the defined-benefit post employment reserve of AJSM was from AJSM’ internal actuary.
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 112 - Movements of defined-benefit post-employment reserve are as follows:
2011 2010
Rp 000,000 Rp 000,000
Defined-benefit post-employment reserve at beginning of the year 64,447
38,979 Defined-benefit post-employment expense during the year Note 49
14,363 26,811
Payments during the year 2,022
1,343 Defined-benefit post-employment reserve at end of the year
76,788 64,447
Principal actuarial assumptions used in the valuation of the defined post-employment benefits are as follows:
2011 2010
Future salary increase 5.00 - 15.00 5.00 - 15.00
Discount rate 7.00 - 10.00 5.00 - 13.00
51. Other Expenses
2011 2010
Rp 000,000 Rp 000,000
Repairs and maintenance 41,089
36,620 Training
35,296 20,143
Direct costs of service center 13,107
8,722 Bad debts expense
547 396
Tithe 277
127 Others
19,976 15,772
Total 110,292
81,780
Others consist of donation, fine, bad debt expense, allowance for decline in value of foreclosed properties Note 22 and others.
52. Income
Taxes
The tax expense of the Group consists of the following:
2011 2010
Rp 000,000 Rp 000,000
Current tax expense Subsidiaries
78,996 68,026
Deferred tax expense benefit Parent Company
17 37
Subsidiaries 700
21,814 Subtotal
683 21,777
Total 79,679
89,803
