PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 57 1. GENERAL continued
g. Subsidiaries and Associates continued PT Mandiri Sekuritas
PT Mandiri Sekuritas was established in Jakarta on 31 July 2000 based on notarial deed of Ny. Vita Buena, S.H., replacing Sutjipto, S.H., No. 116 It was established through the merger of PT Bumi
Daya Sekuritas “BDS”, PT Exim Sekuritas “ES” and PT Merincorp Securities Indonesia “MSI”, whereby BDS and ES merged into MSI. MSI obtained its brokerage and underwriting licenses from
the Chairman of the Capital Market Supervisory Agency through decree No. KEP-12PM1992 and No. KEP-13PM1992 and officially commenced its operations dated 23 January 1992. The merger
was approved by the Ministry of Law and Legislation of the Republic of Indonesia on 25 August 2000 based on decision letter No. C-18762.HT.01.01-TH.2000 and the bussines license that was
previously obtained by MSI can still be used by PT Mandiri Sekuritas. PT Mandiri Sekuritas owns 99.90 of the total share capital of PT Mandiri Manajemen Investasi, a Subsidiary established on 26
October 2004 and engaged in investment management and advisory activities.
PT Bank Sinar Harapan Bali
PT Bank Sinar Harapan Bali “BSHB” was established on 3 November 1992 based on the notarial deed No. 4 of Ida Bagus Alit Sudiatmika, S.H., in Denpasar. BSHB obtained its license based on the
decision letter of the Minister of Finance of the Republic of Indonesia No. 77KMK.0171994 and officially commenced its operations on 10 March 1999. On 3 May 2008, the signing of the acquisition
deed was made between the shareholders of BSHB and Bank Mandiri as covered in the acquisition deed No. 4 dated 3 May 2008 of I Wayan Sugitha, S.H., in Denpasar. The signing deed marked the
beginning of the Bank’s 80.00 ownership of BSHB whereby subsequently, BSHB was managed separately and independently from Bank Mandiri. BSHB is treated as a stand alone bank in order to
predominantly focus on the expansion of Micro Business and Small Business.
On 22 October 2009, the Bank increased its share ownership of BSHB by 1 .46 of the total shares issued and fully paid or equivalent to Rp1,460,657,000 full amount by purchasing all of the shares
owned by BSHB’s President Director of 2,921,314 shares which has been documented in Shares Sales-Purchase Agreement No. 52 of notary Ni Wayan Widastri, S.H., dated 22 October 2009 in
Denpasar, Bali.
The increase of Bank Mandiri’s share ownership in BSHB was conducted in order to meet Bank Indonesia’s requirements regarding Good Corporate Governance, as the BSHB’s President Director
must be an independent party of BSHB. Bank Mandiri has obtained approval from Bank Indonesia through its letter No. 11103DPB1TPB1-1 dated 21 August 2009 for the additional capital in BSHB.
Through this additional capital, the Bank’s ownership in BSHB increased from 80.00 to 81.46 of the total shares issued with a total share value of Rp81,461 compared to the original amount of
Rp80,000.
Goodwill arising from the acquisition of BSHB amounted to Rp19,219 was amortised over 5 five years on a straight line basis as it represented the estimated economic life. The goodwill
amortisation expense for the period of 1 January 2010 to 31 December 2010 amounted to Rp3,844 was charged to the consolidated statement of income. As at 31 December 2010, the unamortised
goodwill balance amounted to Rp8,969. Effective 1 January 2011, the Bank ceased the amortisation of goodwill and will regularly asses and evaluate goodwill impairment in accordance with SFAS No.
22 revised 2010 “Business Combination” refer to Note 2s.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 58 1. GENERAL continued
g. Subsidiaries and Associates continued PT Mandiri Tunas Finance
