Securities Agent Receivables Financial Statement 2012

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 - 89 - Gain on change Equity in in ownership Percentage January 1, Additional net income interest in Deduction from December 31, of ownership 2011 Reclassification investment loss subsidiaries investment 2011 Equity Method Associates PT Asuransi Jiwa Mega Life 50.00 177,025 - - 25,160 - - 202,185 PT Panji Ratu Jakarta 21.02 17,372 - - 81 - - 17,453 PT Super Wahana Tehno 35.19 9,481 - - 381 - - 9,862 PT JobStreet Indonesia 40.00 697 - - 446 - - 251 Total 204,575 - - 25,176 - - 229,751 AFS - acquisition cost PT Oto Multiartha 16.14 176,309 - - - - - 176,309 PT Summit Oto Finance 0.16 1,269 - - - - - 1,269 Total 177,578 - - - - - 177,578 Changes during 2011 Changes during 2010 Gain on change Equity in in ownership January 1, 201 Percentage January 1, Additional net income interest in Deduction from December 31, of ownership 2010 Reclassification investment loss subsidiaries investment 2010 Equity Method Associates PT Asuransi Jiwa Mega Life 50.00 150,634 - - 26,391 - - 177,025 PT Panji Ratu Jakarta 21.02 - 18,028 - 34 622 - 17,372 PT Super Wahana Tehno 35.19 9,604 - - 123 - - 9,481 PT JobStreet Indonesia 40.00 - - - 697 - - 697 PT Certis CISCO 49.00 7,181 - 19,600 1,457 - 28,238 - Total 167,419 18,028 19,600 28,388 622 28,238 204,575 Cost Method PT Oto Multiartha 16.14 176,309 - - - - - 176,309 PT Summit Oto Finance 0.16 1,269 - - - - - 1,269 Total 177,578 - - - - - 177,578 Equity Method PT Asuransi Jiwa Mega Life AJML AJML, domiciled in Jakarta, engaged in life insurance. PT Panji Ratu Jakarta PRJ PRJ, domiciled in Jakarta, engaged in development, trading and service. PT Super Wahana Tehno SWT SWT, domiciled in Jakarta, engaged in trading and manufacturing packed drinking water. Jobstreet Indonesia JI JI, domiciled in Jakarta, engaged in employee recruitment services by internet and human recources management. 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 - 90 - The condensed financial information of the associates are as follows : January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Total Assets 2,084,963 3,170,381 4,353,106 Total Liabilities 1,499,889 2,655,640 3,889,814 Total Equity 585,074 514,741 463,292 63,509 52,628 54,045 Net Income

b. Subsidiaries’ Investments in shares of stock

As restated - Note 62 January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Equity method PT Bintang Rajawali Perkasa 92,995 100,683 - PT Asuransi Sumit Oto 53,892 51,376 - PT LIG Insurance Indonesia 30,385 32,616 17,088 Subtotal 177,272 184,675 17,088 Available for sale - at acquisition cost Aries Capital Partner II 43,548 43,548 - PT Bursa Komoditi dan Derivatif Indonesia 8,000 8,000 8,000 PT Kustodian Sentral Efek Indonesia 6,600 6,600 600 Konsorsium Asuransi Risiko Khusus - PT Tugu Reasuransi Indonesia 3,000 3,000 3,000 PT Rizki Lancar Sentosa 2,500 2,500 - PT Asuransi MAIPARK Indonesia 1,805 1,804 1,803 Fair Oil Energy Insurance Syndicate 455 455 455 PT Pemeringkat Efek Indonesia 350 350 350 PT Damai Indah Padang Golf 140 140 140 PT Bursa Efek Indonesia 135 135 135 PT Sedana Golf 101 101 101 PT Menara Proteksi Indonesia 20 20 20 PT Bintang Rajawali Perkasa - - 145,000 Subtotal 66,654 66,653 159,604 Total 243,926 251,328 176,692 Equity Method PT LIG Insurance Indonesia ASM, a subsidiary, established PT LIG Insurance Indonesia LIG as a joint venture with LG Korea. ASM has 30 ownership interest in LIG. In January 2011, ASM increased its investment in shares of LIG by Rp 15,000. This additional investment did not change ASM’s ownership interest in LIG.