PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2012 AND FOR THE YEAR THEN ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2011 AND FOR THE YEAR THEN ENDED AND AS OF JANUARY 1, 2011
Figures in tables are presented in billions of Rupiah, unless otherwise stated
111
42. CONTINGENCIES continued
c. continued The bankruptcy petition was filed by PT Prima on the basis of:
• PT Prima’s claim on overdue receivables from Telkomsel amounting to Rp5.26 billion which
represents undelivered pulse reload vouchers based on orders covered by purchase orders •
Receivable of another company from Telkomsel Telkomsel argued that the payable to the other company has been paid and PT Prima has no
right to claim receivable from Telkomsel, considering that PT Prima has not made any payment to Telkomsel on its orders and it has breached the terms and conditions as stipulated in the above-
mentioned agreement. Therefore, the requirement for a bankruptcy petition should not have been met.
Accordingly, Telkomsel has taken necessary actions to resolve the case including filing an appeal to the Supreme Court “SC” on September 21, 2012.
On November 21, 2012, within the SC’s verdict No. 704 KPdt.Sus2012, SC decided to:
• Approve the Telkomsel’s appeals
• Revoke the Central Jakarta District Court’s verdict
As of the issuance date of consolidation financial statement, the case is still in a Judicial Review “Peninjauan Kembali” or “PK” process in the SC since PT Prima filed a PK on the SC’s verdict
Note 47 g.
The Company and subsidiaries do not believe that any subsequent investigation or court decision on the above matters and cases will have significant financial impact to the Company and subsidiaries.
43. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
Assets and liabilities denominated in foreign currencies balances are as follows:
2012 Rupiah
U.S. Dollars Japanese Yen
Others equivalent
in millions in millions
in millions in billions
Assets Cash and cash equivalents
412.69 1.33
6.38 4,042
Other current financial assets 7.17
- -
69 Trade receivables
Related parties 9.03
- -
87 Third parties
74.89 -
0.44 727
Other receivables 1.20
- 0.06
12 Advances and other non-current assets
9.89 -
- 95
Total assets 514.87
1.33 6.88
5,032 Liabilities
Trade payables Related parties
1.49 -
- 14
Third parties 320.34
- 2.41
3,120 Other payables
0.92 -
0.13 10
Accrued expenses 75.07
32.87 3.00
759 Short-term bank loans
0.42 -
- 4
Advances from customers and suppliers 0.80
- 0.20
10 Current maturities of long-term liabilities
30.75 767.90
- 383
Promissory notes 68.62
- -
661 Long-term liabilities - net of current maturities
112.84 8,446.87
- 2,035
Total liabilities 611.25
9,247.64 5.74
6,996
Liabilities - net 96.38
9,246.31 1.14
1,964
Assets and liabilities denominated in other foreign currencies are presented as U.S. Dollars equivalents using the exchange rates prevailing at end of the reporting period.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2012 AND FOR THE YEAR THEN ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2011 AND FOR THE YEAR THEN ENDED AND AS OF JANUARY 1, 2011
Figures in tables are presented in billions of Rupiah, unless otherwise stated
112
43. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES continued
2011 Rupiah
U.S. Dollars Japanese Yen
Others equivalent
in millions in millions
in millions in billions
Assets Cash and cash equivalents
139.03 1.18
8.81 1,340
Other current financial assets 6.50
- -
58 Trade receivables
Related parties 4.73
- -
43 Third parties
88.55 -
0.06 803
Other receivables 24.99
- 0.06
227 Advances and other non-current assets
10.20 -
- 93
Total assets 274.00
1.18 8.93
2,564 Liabilities
Trade payables Related parties
0.41 -
- 4
Third parties 427.73
0.51 1.35
3,891 Other payables
0.52 -
- 5
Accrued expenses 54.84
35.61 2.53
524 Advances from customers and suppliers
0.86 -
- 8
Current maturities of long-term liabilities 66.61
767.90 -
694 Promissory notes
74.75 -
- 679
Long-term liabilities - net of current maturities 140.99
9,214.77 -
2,357 Total liabilities
766.71 10,018.79
3.88 8,162
Liabilities - net 492.71
10,017.61 5.05
5,598
Assets and liabilities denominated in other foreign currencies are presented as U.S. Dollars equivalents using the exchange rates prevailing at end of the reporting period.
The Company and subsidiaries’ activities expose them to a variety of financial risks, including the effects of changes in debt and equity market prices, foreign currency exchange rates and interest
rates. If the Company and subsidiaries report monetary assets and liabilities in foreign currencies as of
December 31, 2012 using the exchange rates on February 28, 2012, the unrealized foreign exchange gain will increase by Rp73 billion.
44. FINANCIAL RISK MANAGEMENT
1. Financial risk management The Company and subsidiaries activities expose them to a variety of financial risks such as
market risks including foreign exchange risk and interest rate risk, credit risk and liquidity risk. Overall, the Company and subsidiaries’ financial risk management program is intended for
minimizing lossess on the financial assets and financial liabilities arising from fluctuation of foreign currency exchange rates and the fluctuation of interest rates. Management has a written
policy for foreign currency risk management mainly through time deposits placements and hedging to cover foreign currency risk exposures for periods ranging from 3 up to 12 months.
