Premiums and Reinsurance Receivables

PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2011 and 2010 and For the Years then Ended - 78 - 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: 2011 2010 Rp 000,000 Rp 000,000 Rupiah 1 year or less 2,233,913 1,440,837 More than 1 year until 2 years 1,537,489 1,342,919 More than 2 years until 5 years 3,746,066 2,257,599 More than 5 years 676,828 1,173,349 Subtotal 8,194,296 6,214,704 U.S. Dollar Note 59 1 year or less 1,728,949 607,588 More than 1 year until 2 years 69,774 24,931 More than 2 year until 5 years 149,081 57,909 More than 5 years 98,074 106,663 Subtotal 2,045,878 797,091 Total 10,240,174 7,011,795 Allowance for impairment losses 104,732 77,638 Net 10,135,442 6,934,157 Based on remaining period until maturity: 2011 2010 Rp 000,000 Rp 000,000 Rupiah 1 year or less 3,453,649 2,590,571 More than 1 year until 2 years 1,596,598 767,708 More than 2 years until 5 years 2,613,243 2,160,473 More than 5 years 530,806 695,952 Subtotal 8,194,296 6,214,704 Foreign currency Note 59 1 year or less 1,763,282 586,405 More than 1 year until 2 years 59,343 47,696 More than 2 years until 5 years 125,179 53,992 More than 5 years 98,074 108,998 Subtotal 2,045,878 797,091 Total 10,240,174 7,011,795 Allowance for impairment losses 104,732 77,638 Net 10,135,442 6,934,157 PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2011 and 2010 and For the Years then Ended - 79 - d. Average interest rates per annum on loans are as follows: 2011 2010 Rupiah 6.00 - 33.06 5.95 - 26.97 U.S. Dollar 2.45 - 11.00 4.25 - 9.50 e. The changes in allowance for impairment losses on loans are as follows: 2011 2010 Rp 000,000 Rp 000,000 Balance at the beginning of the year 77,638 90,889 Adjustment on PSAK No. 55 Revised 2006 Note 2i - 4,316 Provisions during the year 24,737 53,241 Accrual of interest on impaired loans - 5,150 Write-off during the year 626 63,015 Recovery 6,860 - Exchange rate differences 3,877 2,643 Balance at the end of the year 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, 2011 and 2010, the outstanding balance of BS’ channeling amounted to Rp 3,428,783 million and Rp 2,332,310 million, respectively, of which Rp 1,875,735 million, and Rp 1,200,157 million, respectively, were transferred through related parties Note 54. g. Loans granted to related parties, except for granted loans to employees, were granted under normal terms and conditions similar to those granted to third parties. Loans granted to employees represent loans for purchases of cars, houses and other necessities with interest rates of 0 for loans with term below 1 year and 6 for loans with terms ranging between 1 to 10 years. h. As of December 31, 2011 and 2010, the total gross non-performing loans amounted to Rp 90,946 million and Rp 88,348 million, respectively. All of the non-performing loans are in the process of recovery by BS. i. Management believes that the value of the collaterals on loans is adequate to cover the possible losses which might arise from uncollectible loans. PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2011 and 2010 and For the Years then Ended - 80 -

14. Ijarah Assets

As of December 31, 2011 and 2010, this account represents the object of the Ijarah lease transactions with an option to transfer the Muntahiyah Bittamlik object property leased by grant. January 1, Transfer to the lessee December 31, 2011 Additions at the end of contract 2011 Rp 000,000 Rp 000,000 Rp 000,000 Rp 000,000 Cost Vehicles 246,336 142 142,339 104,139 Heavy equipment 23,600 14,700 - 38,300 Machineries 1,785 2,982 407 4,360 Software 3,649 772 3,560 861 Multiservice assets - 3,835 420 3,415 Total 275,370 22,431 146,726 151,075 Accumulated depreciation Vehicles 55,379 147,108 142,339 60,148 Heavy equipment 686 6,145 - 6,831 Machineries 138 1,036 407 767 Software 9 3,809 3,560 258 Multiservice assets - 779 420 359 Total 56,212 158,877 146,726 68,363 Net Book Value 219,158 82,712 Changes during the year January 1, Transfer to the lessee December 31, 2010 Additions at the end of contract 2010 Rp 000,000 Rp 000,000 Rp 000,000 Rp 000,000 Cost Vehicles - 265,741 19,405 246,336 Heavy equipment - 23,600 - 23,600 Machineries - 1,785 - 1,785 Software - 3,649 - 3,649 Total - 294,775 19,405 275,370 Accumulated depreciation Vehicles - 74,784 19,405 55,379 Heavy equipment - 686 - 686 Machineries - 138 - 138 Software - 9 - 9 Total - 75,617 19,405 56,212 Net Book Value - 219,158 Changes during the year