Noncontrolling interest in net assets of the subsidiaries

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 - 114 - In December 2007, the Company increased its investment in AJSM amounting to Rp 20,000. The increase in investment resulted to an increase in ownership interest of the Company in AJS from 73.08 to 83.33, since SG and SMT did not increase their investments. Difference between the transfer price and book value of restructuring transactions among entities under common control amounting to Rp 47,475 was recorded in the account “Difference in Value Arising from Restucturing Transactions Among Entities Under Common Control” as part of equity in the consolidated financial statements. In 2012, 2011, 2010, 2009 and 2008, the Company increased its investment in JTUM amounting to Rp 25,000, Rp 25,000, Rp 15,000, Rp 20,000 and Rp 8,000, respectively. The increase in investment resulted to an increase in ownership interest of the Company in JTUM to 99.93 in 2011, 99.90 in 2010, 99.86 in 2009, 99.67 in 2008, since the other stockholders, PT Kalibesar Raya Utama, a company owned by Sinar Mas Group, did not increase its investment. Difference between the transfer price and book value of restructuring transactions among entities under common control amounting to Rp 1, Rp 1, Rp 7 and Rp 10, respectively, were recorded in “Difference in Value Arising from Restucturing Transactions Among Entities Under Common Control” as part of equity in the consolidated financial statements. The balance of this account as of December 31, 2011 and 2010, amounted to Rp 93,484 and Rp 93,485, respectively.

39. Cash Dividends

Based on the Annual General Stockholders’ Meeting dated June 15, 2012, the shareholder approved the distribution of cash dividend for 2011 amounting to Rp 6,236 or Rp 1 in Rupiah full amount per Series A and Series B Share. Based on the Annual General Stockholders’ Meeting dated June 24, 2011, the shareholder approved the distribution of cash dividend for 2010 amounting to Rp 6,224 or Rp 1 in Rupiah full amount per Series A and Series B share. 40. General Reserve Based on the Annual General Stockholders’ Meeting dated June 15, 2012, the Company provided general reserve based on the total issued and paid up capital amounting to Rp 264,276. Based on the Annual General Stockholders’ Meeting dated June 24, 2011, the Company provided general reserve based on the total issued and paid up capital amounting to Rp 264,101. Based on the Annual General Stockholders’ Meeting dated June 4, 2010, the Company provided general reserve based on the total issued and paid up capital amounting to Rp 263,230.