PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
79
25. FUND BORROWINGS continued
g Exchange Offer Loans continued Exchange Offer Loan II with original maturities before January 1, 2002 matured in four tranches
every June 1 from 2002 to 2005. These borrowings bear interest calculated every six months equal to six-month LIBOR plus an applicable margin determined for each maturity period.
In 2005, Bank Mandiri has settled Exchange Offer Loan II with a nominal value amounting to US182,100,000 full amount.
h Others i
Rupiah
2005 2004
Bank Panin, Jakarta 100,000
50,000 HSBC, Jakarta
105,000 90,000
DBS Bank Ltd., Jakarta 100,000
50,000 Borrowing from the Government of the Republic of Indonesia
- 126,378
305,000 316,378
iiForeign Currency
2005 2004
Others 6,895 6,165
26. ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
a. Commitment and contingent transactions in the normal course of Bank Mandiri activities that have credit risk are as follows:
2005 2004
Rupiah: Bank guarantees issued Note 46
3,797,255 3,185,858
Outstanding irrevocable letters of credit Note 46 603,455
369,425 Standby letters of credit Note 46
- 30,000
4,400,710 3,585,283
Foreign Currency: Bank guarantees issued Note 46
4,695,898 4,307,596
Standby letters of credit Note 46 3,557,056
2,943,434 Outstanding irrevocable letters of credit Note 46
3,236,305 6,117,130
11,489,259 13,368,160
15,889,969 16,953,443
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
80
26.ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES continued
b. By Collectibility:
2005 2004
Current 14,419,537
16,628,425 Special mention
831,259 315,787
Sub-standard 329,674
9,231 Doubtful
128,710 -
Loss 180,789
- Total
15,889,969 16,953,443
Less: Estimated losses 594,084
565,898
Commitments and Contigencies - net
15,295,885 16,387,545
c. Movements of estimated losses on commitments and contingencies:
2005 2004
Balance at beginning of year 565,898
572,267 ProvisionReversal of provision during the year
80 37,923
Others 28,106
31,554
Balance at end of year 594,084
565,898
includes effect of foreign currency translation.
The minimum estimated losses on commitments and contingencies, under the guidelines prescribed by Bank Indonesia, as of December 31, 2005 and 2004, were Rp594,084 and Rp371,470, respectively.
Management believes that the estimated losses on commitments and contingencies provided for is adequate.
27. TAXATION a.
Taxes payable
2005 2004
Bank Mandiri
Income Taxes:
Employee income tax - Article 21 42,483
35,065 Withholding tax - Article 42
201,611 104,380
Corporate income tax - Article 25 -
242,330 Land and building tax
- 1
Others 7,277
56,379 251,371
438,155 Subsidiaries
20,730 57,969
272,101 496,124
