PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
37
10. LONG-TERM INVESTMENTS continued
2008 Percentage
of Beginning
Share of Translation Ending
ownership balance Addition Dividend net income adjustment balance Equity method:
CSM 25.00
57,240 -
- 1,744
1,212 57,772
Patrakom 40.00
32,892 -
1,944 732
- 31,680
PSN 22.38
- -
- -
- -
90,132 -
1,944 2,476
1,212 89,452
Cost method:
BMPL 10.00
20,360 -
- -
- 20,360
BBT 5.00
587 -
- -
- 587
Bangtelindo 2.11
199 -
- -
- 199
Scicom MSC Berhad “Scicom”
9.81 2,712
28,249 -
- -
30,961 23,858
28,249 -
- -
52,107 113,990
28,249 1,944
2,476 1,212
141,559
a. CSM CSM is engaged in providing Very Small Aperture Terminal “VSAT”, network application
services and consulting services on telecommunications technology and related facilities. As of September 30, 2007 and 2008, the carrying amount of the investment in CSM was equal to
the Company’s share in the net assets of CSM.
b. Patrakom
Patrakom is engaged in providing satellite communication system services, related services and facilities to companies in the petroleum industry.
The increase of ownership in Patrakom in 2007 represents an adjustment arising from the difference between the book value and the initial investment was made in 2005.
Pursuant to the AGM of Stockholders as stated in notarial deed No. 235 of Sutjipto, S.H. M.Kn. dated April 30, 2008, Patrakom’s stockholders approved the distribution of cash dividends for
2007 amounting to Rp.4,859 million and the appropriation of Rp.607 million for general reserves. The Company’s share of the dividend amounting to Rp.1,944 million.
As of September 30, 2007 and 2008, the carrying amount of investment in Patrakom was approximate to the Company’s share in the net assets of Patrakom.
c. PSN
PSN is engaged in providing satellite transponder leasing and satellite-based communication services in the Asia Pacific region. The Company’s share in losses in PSN has exceeded the
carrying amount of its investment since 2001, accordingly, the investment value has been reduced to Rp.nil.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
38
10. LONG-TERM INVESTMENTS continued d. BMPL
BMPL Singapore, an associated entity of Telkomsel, is engaged in providing regional mobile services in the Asia Pacific region.
Subsequently, on March 7, 2007, it was resolved that each of the stockholders shall subscribe for 1,500,000 additional shares of BMPL, subject to the accession of SK Telecom Co., Ltd as a
stockholder of BMPL. However, the additional subscription of 300,000 shares shall be cancelled if SK Telecom Co., Ltd becomes a stockholder of BMPL.
Based on the Accession Agreement dated June 18, 2007, the stockholders of BMPL agreed to admit SK Telecom Co, Ltd as a stockholder of BMPL. Consequently, the additional subscription
of 300,000 shares was cancelled. On the same date, the stockholders of BMPL also agreed to admit Advanced Info Service Public Company Limited as a stockholder of BMPL.
In April and November 2007, Telkomsel has paid additional subscriptions of US600,000, respectively equivalent to Rp.5,453 million and Rp.5,615 million, respectively.
As of September 30, 2007 and 2008, Telkomsel’s contributions which represent 10.81 and 10 ownership interest are US1,600,000 equivalent to Rp.14,743 million and US2,200,000
equivalent to Rp.20,360 million, respectively.
e. BBT
BBT is engaged in providing fixed line telecommunication services at Batamindo Industrial Park in Muka Kuning, Batam Island and at Bintan Beach International Resort and Bintan Industrial Estate
in Bintan Island.
f. Bangtelindo
Bangtelindo is primarily engaged in providing consultancy services on the installation and maintenance of telecommunications facilities.
On July 19, 2007, based on decision of the EGM of stockholders as covered on notarial deed No. 38 of Dr. Wiratni Ahmadi, S.H. dated July 19, 2007, the Bangtelindo’s stockholders agreed
the addition of paid in capital amounting to Rp.2,000 million from PT Fokus Investama Mondial’s “FIM” stockholders. As a result, the Company’s ownership in Bangtelindo has diluted to 2.41.
On February 5, 2008, based on decision of the EGM of stockholders as covered on notarial deed No. 85 of Dr. Wiratni Ahmadi, S.H. dated June 30, 2008, the Bangtelindo’s stockholders agreed
to convert its reserve to shares of 1,200 shares amounting to Rp.1,200 million by the FIM’s stockholders resulted in dilution of the Company’s ownership in Bangtelindo to 2.11.
g. Scicom
Scicom is engaged in providing call center services in Malaysia. As of September 30, 2008, TII has purchased additional 26,000,000 Scicom shares or equivalent to 9.81 of TII’s total
ownership with transaction value amounted to US3.42 million equivalent to Rp.30,961 million.
