PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Year Ended December 31, 2006 With Comparative Figures For 2005
Expressed in millions of Rupiah, unless otherwise stated
130
56. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES
a. Integrated Banking System Agreement with PT Silverlake Informatikama and Silverlake Corporation continued
On June 18, 2004, the Bank entered into agreement to enhance the eMAS feature with Silverlake Corporation for a total contract value of 3,315 mandays US 975mandays before VAT 10. The
payments realization until December 31, 2006 amounting to US3,544,612.50 full amount after VAT 10 was recorded as fixed assets amounting to US3,544,612.50 full amount. The project
completion as of December 31, 2006 was 100. On August 1, 2006, the Bank entered into an agreement to enhance the eMAS feature with Silverlake
Corporation for a total contract value of 3,705 mandays US720mandays before VAT 10. The payments realization until December 31, 2006 amounting to US930,893.04 full amount after VAT
10 was recorded as construction in progress amounting to US930,893.04 full amount. The estimated percentage of completion as of December 31, 2006 was 31.72.
b. Agreement with PT Suprima Nusantara SNP On December 16, 2004, Bank Mandiri has entered into an agreement with SNP which has then been
amended with 2 two addendums. Based on the addendum agreement: a. Bank Mandiri has an option to become a 20 shareholder of SNP if Bank Mandiri disburses a
financing facility to SNP andor its consumers, either directly or indirectly, of up to Rp1,000,000 or effective 4 four years after the signing date of such agreement dated December 16, 2004 that is on
December 16, 2008, whichever is earlier. b. Bank Mandiri has an option for 51 SNP shares after execution of 20 shareholder option right until
16 December 2009. The agreement was notarized under Deed No. 37 by N.M. Dipo Nusantara Pua Upa, S.H., dated
December 16, 2004. Addendum 1 was reported to the notary, Harun Kamil, in Jakarta dated March 28, 2006 No. 001WARNIII06, whilst Addendum 2 was a letter of agreement between SNP and Bank
Mandiri No. WADIRUT5762006 dated December 12, 2006.
c. Agreement on development of Operational Risk Management with ABN AMRO Bank N.V. On February 25, 2005, Bank Mandiri and ABN AMRO Bank N.V. entered into an agreement to develop
Operational Risk Management to assist the Bank in operational risk management implementation process and has been revised with an addendum. The agreement was meant as a means for transfer of
knowledge to increase the Bank and the employees’ capability in operational risk management, and to increase the capability to measure and calculate capital allocation in accordance with Basel II standard.
Based on the agreement, ABN AMRO Bank N.V. will support the development of Bank Mandiri internal capability in operational risk management. The capability development will be conducted through nine
action tracks in the form of transfer of knowledge and advisory. The agreement’s value is USD 1,200,000 full amount and planned to be completed on June 30, 2007.
d. Agreement on Implementation of e-Learning In order to support Bank Mandiri’s plan to focus on Strategic Excellence and Operational Excellence, the
training infrastructure for an e-Learning program was established by the Bank. Bank Mandiri signed a three-year contract agreement with PT Mitra Integrasi Komputindo as a representative of Intralearn Asia
Pte. Ltd. Singapore involving a total contract value of US7,213,200 full amount as stipulated in contract letter No. CHC.TRNTPD.PK.00282003 dated July 30, 2003 and addendum
No.CHC.LRCPK.00442006 dated September 5, 2006.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Year Ended December 31, 2006 With Comparative Figures For 2005
Expressed in millions of Rupiah, unless otherwise stated
131
56. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued
