PROPERTI INVESTASI lanjutan INVESTMENT PROPERTIES continued

The original consolidated financial statements included herein are in Indonesian language. PT MNC LAND Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN lanjutan Untuk tahun yang berakhir pada 31 Desember 2015 Dan 2014 Disajikan dalam Rupiah, kecuali dinyatakan lain PT MNC LAND Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued For The Years Ended December 31, 2015 And 2014 Expressed in Rupiah, unless otherwise stated 82

22. UTANG JANGKA PANJANG – UTANG BANK lanjutan

22. LONG-TERM LIABILITIES – BANK LOAN continued

PT Bank ICBC Indonesia ICBC lanjutan PT Bank ICBC Indonesia ICBC continued Perusahaan lanjutan The Company continued Perjanjian pinjaman mencakup persyaratan tertentu untuk tidak melakukan hal-hal berikut tanpa persetujuan tertulis terlebih dahulu dari pihak bank, antara lain meminjam dan atau meminjamkan uang kepada pihak ketiga selain yang timbul dari utang usaha; bertindak sebagai penanggung guna menjamin utang pihak lain; serta melakukan mergerkonsolidasiakuisisi atau investasi yang dapat mempengaruhi kinerja Perusahaan. Berdasarkan perjanjian kredit, Perusahaan juga harus menjaga minimum Debt Service Current Ratio diatas 1,1 kali selama masa pinjaman. The loan agreement contains certain covenants, wherein written approval should be obtained from the bank before executing certain matters which include among others: obtain loan or provide loan to other parties except loan resulted from normal course of the business; act as guarantor of other parties’ loan; and also enter into mergerconsolidationacquisition or investment that will affect the Company’s performance. Based on the loan agreement, the Company is also required to maintain its minimum Debt Services Current Ratio of 1.1 during the loan period. Entitas Anak Subsidiaries NGI NGI NGI mendapat beberapa fasilitas dari ICBC sebagai berikut: NGI obtained several facilities from ICBC as follows: 1. Fasilitas kredit investasi dengan maksimum pinjaman sebesar Rp45.000.000.000. Periode pinjaman adalah 60 bulan dimulai dari 30 Juli 2012 hingga 30 Juli 2017. Pada tanggal 31 Desember 2015 dan 2014 saldo pinjaman masing-masing adalah sebesar Rp26.190.000.000 dan Rp41.050.000.000 1. Investment credit facility with maximum amount of Rp45,000,000,000. The loan period is 60 months commencing from July 30, 2012 to July 30, 2017. The outstanding loan as of December 31, 2015 and 2014 amounted to Rp26,190,000,000 and Rp41,050,000,000, respectively. 2. Fasilitas kredit investasi dengan maksimum pinjaman sebesar Rp100.000.000.000. Periode pinjaman adalah 60 bulan dimulai dari 5 Februari 2013 hingga 5 Februari 2018. Pada tanggal 31 Desember 2015 dan 2014 saldo pinjaman masing-masing adalah sebesar Rp48.148.148.148 dan Rp70.713.906.786. 2. Investment credit facility with maximum amount of Rp100,000,000,000. The loan period is 60 months commencing from February 5, 2013 to February 5, 2018. The outstanding loan as of December 31, 2015 and 2014 amounted to Rp48,148,148,148 and Rp70,713,906,786, respectively. 3. Fasilitas kredit investasi dengan maksimum pinjaman sebesar Rp40.000.000.000. Periode pinjaman berlangsung hingga akhir September 2018. Pada tanggal 31 Desember 2015 saldo pinjaman adalah sebesar Rp30.222.222.222. 3. Investment credit facility with maximum amount of Rp40,000,000,000. The loan period is commencing until the end of September 2018. The outstanding loan as of December 31, 2015 amounted to Rp30,222,222,222. The original consolidated financial statements included herein are in Indonesian language. PT MNC LAND Tbk DAN ENTITAS ANAK CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN lanjutan Untuk tahun yang berakhir pada 31 Desember 2015 Dan 2014 Disajikan dalam Rupiah, kecuali dinyatakan lain PT MNC LAND Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued For The Years Ended December 31, 2015 And 2014 Expressed in Rupiah, unless otherwise stated 83

22. UTANG JANGKA PANJANG – UTANG BANK lanjutan

22. LONG-TERM LIABILITIES – BANK LOAN continued

PT Bank ICBC Indonesia ICBC lanjutan PT Bank ICBC Indonesia ICBC continued Entitas Anak lanjutan Subsidiaries continued NGI lanjutan NGI continued Seluruh pinjaman dari ICBC di atas dijamin dengan aset tetap tanah milik NGI dengan SHGB No. 220Benoa, Bali Catatan 13. The above loan from ICBC are collateralized by the land owned by NGI in form of SHGB No. 220Benoa, Bali Note 13. Perjanjian pinjaman mencakup persyaratan tertentu untuk tidak melakukan hal-hal berikut tanpa persetujuan tertulis terlebih dahulu dari pihak bank, antara lain melakukan merger, akuisisi dan perubahan signifikan pada pemegang saham. NGI juga wajib memberitahukan secara tertulis kepada bank apabila terjadi perubahan anggaran dasar, susunan pengurus dan susunan pemegang saham. Perjanjian pinjaman juga mengharuskan NGI untuk mempertahankan rasio keuangan tertentu yaitu: leverage maksimum 2,5x, debt service coverage ratio minimum 1,25x dan loan to value maksimum 65. The loan agreement contains certain covenants, wherein written approval should be obtained from the bank before executing certain matters which include among others: enter into merger, acquisition or significant changes in NGI’s shareholders. NGI is also required to notify the bank in writing if there are any changes in NGI’s articles of association, management composition and shareholders composition. The loan agreement also require NGI to maintain certain financial ratios, among others, maximum leverage ratio 2,5x, minimum debt service coverage ratio 1,25x and maximum loan to value 65. Pinjaman ini dikenakan tingkat suku bunga sebesar 12,75 pada tahun 2015. The loans bear interest at annual rates of 12.75 in 2015. SCS SCS Pada 19 Juli 2013, SCS mendapatkan fasilitas Pinjaman Tetap Installment PTI dari ICBC dengan maksimum pinjaman sebesar Rp60.000.000.000. Periode pinjaman adalah 60 bulan termasuk grace period 12 bulan dimulai dari 19 Juli 2013 hingga 19 Juli 2018, dimana angsuran pokok dibayar setiap 3 bulan. Saldo pinjaman pada tanggal 31 Desember 2015 dan 2014 masing-masing sebesar Rp46.125.000.008 dan Rp46.736.034.156. On July 19, 2013, SCS obtained fixed installment loans PTI from ICBC with maximum amount of Rp60,000,000,000. The loan period is 60 months including grace period 12 months commencing from July 19, 2013 to July 19, 2018, and the principal payment is payable in quarterly installments. The outstanding loan as of December 31, 2015 and 2014 amounted to Rp46,125,000,008 and Rp46,736,034,156, respectively. Pinjaman tersebut dijamin dengan sebidang tanah hak guna bangunan seluas 1.424 m 2 yang terletak di Kelurahan Embong Kaliasin, Kecamatan Genteng, Surabaya dan piutang usaha dari penyewaan ruang gedung MNC Tower, Surabaya Catatan 14. The loan are collateralized by a land with total area of 1,424 m 2 located in Embong Kaliasin, Genteng, Surabaya and the receivable arising from rental of building in MNC Tower, Surabaya Note 14. Pinjaman ini dikenakan tingkat suku bunga efektif per tahun sebesar 11,00 - 12,50 pada 2015. The loan bears interest at annual rates of 11.00 - 12.50 in 2015.