Segregated Funds Net Assets - Unit Link

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 - 81 - January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Third Parties Rupiah Consumer loans 3,060,709 2,903,566 2,323,631 Installment loans 1,924,306 1,874,779 1,445,532 Fixed loans 1,732,440 1,631,249 1,251,931 Factoring loans 713,430 670,991 592,291 Sharia receivables - Murabahah 711,932 640,133 146,895 Overdraft 154,646 154,248 146,137 Investment loans 104,727 106,015 59,297 Sharia receivables - Mudharabah 44,381 1,600 - Loans to employees 24,041 6,615 8,165 Sharia receivables - Qardh 1 17 - Subtotal 8,470,613 7,989,213 5,973,879 Foreign currencies Note 54 Installment loans 319,630 307,133 166,573 Fixed loans 165,558 183,669 76,403 Sharia receivables - Mudharabah 3,214 - - Subtotal 488,402 490,802 242,976 Subtotal 8,959,015 8,480,015 6,216,855 Total 10,386,084 10,240,174 7,011,795 Allowance for impairment losses 92,248 104,732 77,638 Net 10,293,836 10,135,442 6,934,157 b. By Economic Sectors January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Rupiah Household 2,792,192 2,033,299 1,331,430 Wholesale and retail 1,801,421 1,439,899 993,079 Financial intermediary 715,349 850,369 913,554 Real estate, leasing services and servicing companies 553,992 548,401 387,859 Mining and excavation 325,322 372,482 252,374 Construction 163,892 341,928 217,835 Manufacturing 486,797 273,161 250,966 Transportation, warehousing and communication 281,263 257,970 269,240 Services in social, art, culture, recreation and other individual services 253,794 199,545 280,409 Electricity, gas and water 37,328 137,995 20,134 Accommodation and food and beverage 141,996 137,278 112,024 Agriculture, hunting and forestry 50,293 52,743 40,800 Education services 32,166 11,973 - Fishery 11,005 2,776 3,917 Health and social services 2,605 78 91 Individual services that serve household - 41 153 Others 1,019,486 1,534,358 1,140,839 Subtotal 8,668,901 8,194,296 6,214,704 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 - 82 - January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Foreign currency Note 54 Manufacturing 1,267,003 1,557,312 560,337 Financial intermediary 55,079 144,208 34,019 Mining and excavation 181,912 105,416 32,963 Construction 98,697 100,649 106,663 Wholesale and retail 77,485 99,978 38,181 Education services 30,903 30,317 - Agriculture, hunting and forestry 6,104 7,998 2,098 Transportation, warehousing and communication - - 22,830 Subtotal 1,717,183 2,045,878 797,091 Total 10,386,084 10,240,174 7,011,795 Allowance for impairment losses 92,248 104,732 77,638 Net 10,293,836 10,135,442 6,934,157 c. By Maturity The classifications of loans based on its credit period, as stated in the loan agreements, and based on its remaining period until maturity are as follows: Based on credit periods: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Rupiah 1 year or less 592,790 2,233,913 1,440,837 More than 1 year until 2 years 3,452,151 1,537,489 1,342,919 More than 2 years until 5 years 3,801,203 3,746,066 2,257,599 More than 5 years 822,757 676,828 1,173,349 Subtotal 8,668,901 8,194,296 6,214,704 Foreign currrencies Note 54 1 year or less 131,151 1,728,949 607,588 More than 1 year until 2 years 1,377,451 69,774 24,931 More than 2 year until 5 years 113,098 149,081 57,909 More than 5 years 95,483 98,074 106,663 Subtotal 1,717,183 2,045,878 797,091 Total 10,386,084 10,240,174 7,011,795 Allowance for impairment losses 92,248 104,732 77,638 Net 10,293,836 10,135,442 6,934,157 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 - 83 - Based on remaining period until maturity: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Rupiah 1 year or less 3,631,094 3,453,649 2,590,571 More than 1 year until 2 years 1,944,221 1,596,598 767,708 More than 2 years until 5 years 2,834,685 2,613,243 2,160,473 More than 5 years 258,901 530,806 695,952 Subtotal 8,668,901 8,194,296 6,214,704 Foreign currency Note 54 1 year or less 1,500,011 1,763,282 586,405 More than 1 year until 2 years 64,998 59,343 47,696 More than 2 years until 5 years 152,174 125,179 53,992 More than 5 years - 98,074 108,998 Subtotal 1,717,183 2,045,878 797,091 Total 10,386,084 10,240,174 7,011,795 Allowance for impairment losses 92,248 104,732 77,638 Net 10,293,836 10,135,442 6,934,157 d. Average interest rates per annum on loans are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Rupiah 6.00 - 35.07 6.00 - 33.06 5.95 - 26.97 Foreign currencies 2.45 - 11.00 2.45 - 11.00 4.25 - 9.50 e. The changes in allowance for impairment losses on loans are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Balance at the beginning of the year 104,732 77,638 90,889 Adjustment resulting from adoption of PSAK No. 55 Revised 2006 Note 63 - - 4,316 Provisions reversal during the year 23,988 24,737 53,241 Accrual of interest on impaired loans - - 5,150 Write-off during the year 2,444 626 63,015 Recovery of loans written off 12,380 6,860 - Exchange rate differences 1,568 3,877 2,643 Balance at the end of the year 92,248 104,732 77,638 Management believes that the allowance for impairment losses on loans is adequate to cover the possible losses which might arise from uncollectible loans. f. As of December 31, 2012 and 2011 and January 1, 2011December 31, 2010, the outstanding balance of BS’ channeling amounted to Rp 3,676,254, Rp 3,428,783 and Rp 2,332,310, respectively, of which Rp 2,417,937, Rp 1,875,735, and Rp 1,200,157, respectively, were transferred through SMF.