Payables To Brokers Taxes Payable

PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated

43. Insurance Underwriting Expenses

2014 2013 Gross claims 9,342,806 16,155,084 Reinsurance claims 752,680 129,168 Increase in liability for future policy benefits Note 25 649,466 2,117,408 Decrease in segregated fund contract liabilities - unit link 387,470 2,030,844 Commission - net 583,508 454,308 Increase in insurance contract liabilities 4,900 122,624 Increase in estimated claims liabilities Note 26 11,117 32,449 Other underwriting expense 64,790 48,212 Total 9,506,637 12,290,009 44. General and Administrative Expenses 2014 2013 Office appliances 301,532 236,547 Depreciation Notes 18 and 19 218,304 197,704 Marketing and advertising 172,992 120,829 Electricity, water, and telephone 179,719 158,903 Rental 108,512 113,158 Defined-benefit post employment expense Note 47 40,016 32,665 Professional fees 30,182 29,227 Others 58,393 44,799 Total 1,109,650 933,832

45. Interest Expense and Profit Sharing

2014 2013 Saving Time deposits 394,912 257,970 Savings deposits 262,560 215,077 Current account 59,597 50,063 Securities Issued Medium term notes 89,167 101,267 Bonds 54,551 40,347 Loans received 78,786 83,634 Premiums on Government guarantee 31,455 27,640 Deposits and deposits from other banks 15,904 1,793 Others 2,787 1,131 Total 989,719 778,922 46. Other Expenses 2014 2013 Repairs and maintenance 113,517 87,617 Training and education 52,681 46,635 Direct costs of service center 17,851 16,317 Others 32,751 53,461 Total 216,800 204,030 Others consist of donation, fine, loss on sale of foreclosed properties and others. - 102 - PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated

47. Long Term Employee Benefits Liability

The Group determined long term employee benefits liability based on Law No. 13 Year 2003, dated March 25, 2003. No funding of the benefits has been made to date by the Group. As of December 31, 2014 and 2013, the last actuarial valuation report on the the long term employee benefit liability of the Group was from an independent actuary. A reconciliation of the present value of unfunded long term employee benefit liability to the amount of long-term employee benefits liability presented in the consolidated statements of financial position is as follows: 2014 2013 Present value of unfunded long-term employee benefit liability 205,942 176,688 Unrecognized actuarial losses 72,101 69,880 Unrecognized past service costs 20 238 Long-term employee benefits liability 133,821 106,570 Following are details of long-term employee benefits expense: 2014 2013 Current service costs 21,865 20,580 Interest costs 13,658 9,288 Amortization of actuarial gain 3,720 2,942 Past service costs 773 145 Total long-term employee benefits expense 40,016 32,665 Movements of long-term employee benefit liability are as follows: 2014 2013 Long-term employee benefit liability at beginning of the year 106,570 96,838 Long-term employee benefit expense during the year Note 44 40,016 32,665 Long-term employee benefit payments during the year 12,765 22,933 Long-term employee benefit liability at end of the year 133,821 106,570 Principal actuarial assumptions used in the valuation of the defined post-employment benefits are as follows: 2014 2013 Future salary increase 0.00 - 8.00 6.00 - 8.00 Discount rate 8.00 - 10.00 8.00 - 8.50 - 103 -