Earnings Per 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 - 124 - Carrying value Estimate Fair Value Carrying value Estimate Fair Value Carrying value Estimate Fair Value Financial Liabilities Other financial liabilities Deposits and deposits from other banks 11,961,837 11,961,837 13,846,225 13,846,225 9,747,916 9,747,916 Securities sold under agreements to repurchase - - 39,125 39,125 32,069 32,069 Securities agent payables 141,222 141,222 93,740 93,740 417,590 417,590 Medium term notes 996,884 996,884 - - - - Loans received 999,619 999,619 930,904 930,904 512,265 512,265 Accrued expenses 75,920 75,920 69,620 69,620 43,868 43,868 Other liabilities 272,492 272,492 119,884 119,884 324,431 324,431 At fair value through profit and loss Segregated funds contract liabilities - Unit link 3,943,326 3,943,326 4,548,419 4,548,419 7,054,710 7,054,710 Other assets - derivative liabilities - - - - 194 194 Total Financial Liabilities 18,391,300 18,391,300 19,647,917 19,647,917 18,133,043 18,133,043 December 31, 2012 December 31, 2011 December 31, 2010 January 1, 2011 As Restated - Note 62 As Restated - Note 62 Fair Value Hierarchy The following table discloses the fair value hierarchy of financial assets and liabilities: Level 1 Level 2 Level 3 Total Financial Assets Fair value through profit and loss Shares and warrants 2,345,797 - - 2,345,797 Bonds 54,271 - - 54,271 Units of mutual fund 9,822,730 - - 9,822,730 Segregated funds net assets - Unit link 1,782,462 1,931,850 1,258,027 4,972,339 Derivative assets - 2,285 - 2,285 Available for sale Shares and warrants 595,461 - - 595,461 Bonds 3,788,248 - - 3,788,248 Total Financial Assets 18,388,969 1,934,135 1,258,027 21,581,131 Financial Liabilities Fair value through profit and loss Segregated funds contract liabilities - Unit link 3,943,326 - - 3,943,326 December 31, 2012 The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, or broker, industry group pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transaction on an arm’s lengths basis. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in Level 1. Instruments included in Level 1 comprise primarily Indonesia Stock Exchange IDX equity investments, bonds investment and units of mutual fund investment classified as available-for-sale or trading securities and segregated funds net assets - Unit link. The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These valuation techniques maximize the use of observable market data where it is available and rely as little as possible on entity’s specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2. Instruments included in Level 2 comprise derivative assets and segregated funds net assets - Unit link in form of units of mutual fund. If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. Instruments included in Level 3 comprise segregated funds net assets - Unit link in form of units of mutual fund. 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 - 125 - Fair value of short term investments in securities shares that are traded in Indonesia Stock Exhange, bonds and units of mutual fund and segregated funds net assets - unit link based on fair value, net asset value published was calculated by investment manager.. Fair value of loans, consumer financing receivables, finance lease, factoring receivables, and other receivables are determined based on discounted cash flow analysis using market interest rate. There is no reliable basis for measuring the fair value of investment in shares Notes 2i and 17, thus, the investments in shares are stated at cost. Deposits and deposits from other banks have a demand feature, thus, the fair value is not less than the amount payable on demand discounted from the first date that the amount could be required to be paid which is equal to the carrying amount. The fair value of loan received is determined based on discounted cash flow analysis using market interest rates. Fair value of cash and cash equivalents, short-term investment in time deposits, placements with other banks, Bank Indonesia Intervention, export bill receivable, securities purchased under agreements to resell, securities agent receivables, segregated funds net assets – unit link investment receivable, other assets security deposits and money transfer, securities sold under agreement to repurchase, securities agent payables, accrued expenses, and other liabilities approximates the carrying value due to short term nature of transactions.

56. Agreements and

Engagements a. On June 6, 2008, the Company entered into room leasing agreement with ASM, a subsidiary, relating to lease at office building of Plaza Simas which is located at Jl. Fachrudin No. 20, Central Jakarta. The lease term is for 15 years, starting from October 1, 2008 up to October 1, 2023 Note 53. b. AJSM, a subsidiary, entered into cooperation agreements, wherein AJSM was appointed as insurance agent with third parties. The third parties are PT Bank Commonwealth Indonesia, PT Bank Mayapada Tbk, PT Bank Permata Tbk, PT Bank Muamalat Indonesia, PT Bank OCBC NISP Tbk, PT Bank Nusantara Parahyangan Tbk, PT Bank Windu Kentjana International Tbk, PT Bank BCA Syariah, BS, PT Bank Kesawan Tbk, PT Bank Syariah Mandiri, PT Bank UOB Buana Tbk, PT Bank Mega Tbk, PT ICB Bumiputera Indonesia Tbk, PT Bank International Indonesia Tbk, PT Bank Mutiara Tbk, PT Bank Victoria International Tbk, Bank of China Limited and some Bank Perkreditan Rakyat. c. SMF, a subsidiary, has entered into a Joint Financing Agreement by transferring Receivables Portfolio and Appointment as Security Agent and Chanelling Credit Transfer Agreement with BS Note 7. d. Since September 2006, ABSM, a subsidiary, entered into certain lease agreements operating lease with BS, a subsidiary, on motor vehicles and office equipment owned by ABSM with lease periods ranging from four 4 up to eight 8 years until 2014 Note 21. e. On October 22, 2007, SMF, a subsidiary, entered into operating lease agreement with BS on SMF’s automatic teller machine ATM. The operating lease agreement is valid from November 22, 2007 to January 20, 2012 and has been extended until January 22, 2016.