PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5121 48. RELATED PARTY TRANSACTIONS continued
a. Normal Banking Activities continued
Related by management or key personnel of Bank Mandiri continued
Percentages of demand deposits, saving deposits, time deposits, deposits from other banks - demand and saving deposits and fund borrowings with related parties compared to the total
consolidated liabilities are as follows:
2009 2008
2007 Liabilities
Demand Deposit 0.07
0.04 0.05
Savings Deposits 0.03
0.01 0.01
Time Deposits 0.13
0.10 0.06
Deposit form other banks - Demand and saving deposits -
0.00 -
Marketable securities issued -
- 0.01
Fund Borrowings 0.05
0.07 0.10
Total 0.28
0.22 0.2 3
Transactions with related parties are conducted with normal pricing policy and conditions as similar with third parties, except for loans to the Bank’s employees Note 11B.g.
b. Other Significant Transactions
In 2000, the debt of PT Garuda Indonesia Persero Garuda at Bank Mandiri was restructured bilaterally, through of conversion the Garuda’s borrowing to Bank Mandiri amounting to
USD103,000,000 full amount, which consist of loans of USD80,000,000 full amount and Rp168,409, into Mandatory Convertible Bond MCB denominated in Rupiah with 4.00 coupon rate
per annum, 5 years tenor and expected IRR of 18.00 per annum. This MCB facility matured on 2 November 2006.
On 10 November 2009, Bank Mandiri received a letter from Bank Indonesia which stated that Bank Indonesia has no objection on the proposed settlement plan of Garuda’s MCB by converting the MCB
into Bank Mandiri’s temporary investment in Garuda.
On 30 December 2009, Bank Mandiri and Garuda signed the MCB Settlement Agreement based on Notarial Deed No. 272 dated 30 December 2009 of Aulia Taufani SH, as the substitute Notary of
Sutjipto SH. On the signing date, Garuda made cash payments of 5.00 of MCB principal, amounting to Rp50,840 and converted the remaining balance of the MCB approximately 95.00 of MCB
principal into Bank Mandiri’s investment in Garuda’s share, amounting to Rp967,869 or equivalent to 967,869 shares equivalent to 10.60 ownership. The investment in Garuda’s shares will be divested
in conjunction with Garuda’s planned initial Public Offering which is expected to be done in 2010. Based on regulation of Capital Market Supervisory Board and Financial Institution No. IX.A.6,
Appendix of the Decree of the Chairman of Capital Market Supervisory Board and Financial Institution No. 06PM2001 regarding Restriction on Shares Issued Prior to Public Offering, the divestment of
Garuda’s shares by Bank Mandiri can only be done if the Registration Statament of the Initial Public Offering of Garuda is submitted more than 6 six months after the date of conversion of MCB into
temporary investment. As at 31 December 2009, this temporary investment in Garuda’s shares is not recorded in the Bank’s consolidated balance sheet but as extra-comtable account.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5122 49. MATURITY PROFILE
This maturity profile as at 31 December 2009, 2008 and 2007 is based on the remaining period to the contractual maturity date. Historically, a significant portion of deposits are rolled-over on the maturity date.
In addition, if the Bank encounters liquidity needs, Government Bonds trading and available for sale could be liquidated through sale or used as collateral in the inter-bank market. The Bank’s policy with
regards to the maturity gap between the monetary assets and liabilities is to determine a gap limit which is adjusted to the Bank’s and Subsidiaries ability to obtain immediate liquidity.
The maturity profile of the Bank’s assets and liabilities is as follows:
2009
No maturity Less than
More than Description
Total Contract
1 month 1 – 3 months
3 – 6 months 6 – 12 months
12 months Assets
Cash 8,867,881
- 8,867,881
- -
- -
Current accounts with Bank Indonesia
16,055,871 -
16,055,871 -
- -
- Current accounts with
other banks - net 7,402,647
- 7,402,647
- -
- -
Placements with Bank Indonesia and
other banks - net 41,402,410
981 38,531,010
2,862,004 -
8,415 -
Marketable securities - net 18,153,392
187,462 2,487,330
11,890,854 934,787
950,405 1,702,554
Government Bonds 89,132,940
- -
1,733,994 -
3,409 87,395,537
Other receivables-trade transactions – net
3,146,143 -
759,913 1,445,943
754,266 186,021
- Securities purchased under
resale agreements - net 4,905,541
- 3,417,151
1,488,390 -
- -
Derivative receivables - net 174,526
- 38,032
38,313 89,452
8,729 -
Loans - net 184,690,704
- 9,069,879
16,464,843 16,982,284
32,164,344 110,009,354
Consumer financing receivables
1,404,045 -
64,078 125,775
180,392 321,016
712,784 Acceptance receivables
- net 4,304,000
- 1,243,073
1,807,282 1,242,307
11,338 -
Investments in shares - net 186,848
186,848 -
- -
- -
Fixed assets - net 4,963,306
4,963,306 -
- -
- -
Deferred tax assets - net 6,014,085
6,014,085 -
- -
- -
Other assets - net 3,812,265
8,253 1,454,536
1,843,159 -
506,317 -
Total Assets 394, 616,604
11,360,935 89,391,401
39,700,557 20,183,488
34,159,994 199,820,229
Liabilities
Obligation due immediately 573,557
- 573,557
- -
- -
Demand deposits 72,696,847
- 72,696,847
- -
- -
Savings deposits 113,795,011
- 113,795,011
- -
- -
Time deposits 133, 058,523
- 100,339,915
22,474,376 6,300,922
3,681,281 262,029
Deposits from other banks - Demand and saving
deposits 5,842,569
- 5,842,569
- -
- -
- Time deposits 4,943,958
- 4,762,785
142,650 30,424
8,099 -
Securities sold under repurchase agreements
316,356 -
- -
316,356 -
- Derivative payables
41,611 -
17,126 8,648
3,089 6,161
6,587 Acceptance payables
4,356,773 -
1,256,747 1,830,109
1,258,464 11,453
- Marketable securities
issued 1,671,014
- 622,055
374,860 -
- 674,099
Fund borrowings 3,944,356
- 88,512
50,314 61,156
70,774 3,673,600
Estimated losses on commitments and
contingencies 329,362
329,362 -
- -
- -
Accrued expenses 542,921
- 542,921
- -
- -
Taxes payable 1,855,829
- 235,781
- 1,608,429
11,619 -
Other liabilities 9,132,586
514,365 3,975,206
1,031,019 526,298
1,066,838 2,018,860
Subordinated loans 6,217,068
- 2,882
17,153 -
67,336 6,129,697
Total liabilities 359, 318,341
843,727 304, 751,914
25,929,129 10,105,138
4,923,561 12,764,872
Net AssetsLiabilities 35,298,263
10,517,208 215,360,513
13,771,428 10,078,350
29,236,433 187,055,357