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PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Three Months Period Ended March 31, 2016 and 2015 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
Table of Contents
8. LONG-TERM INVESTMENTS continued
Summarized financial information of the Group’s investments accounted under the equity method for 2015:
Tiphone Indonusa
Teltranet Melon
ILCS Telin Malaysia
CSM
Statements of financial position Current assets
6,539 501 117 131 105 18
185 Non-current assets
1,261 333
58 27
32 10
1,221 Current liabilities
1,657 535
35 57
54 17
731 Non-current liabilities
3,073 568
1 2
1 -
1,535
Equity deficit 3,070
269 139
99 82 11
860
Statements of profit or loss and other comprehensive
income Revenues
4.664 111 -
41 7 1 43
Operating expenses 4,419
134 7
38 12
8 96
Other income expenses including finance
costs - net 93
14 5
1 0 - 3
Profit loss before tax 152
37 2
4 5
7 50
Income tax expense 38
- - - - -
-
Profit loss for the year 114
37 2
4 5
7 50
a
Tiphone was established on June 25, 2008 as PT Tiphone Mobile Indonesia Tbk. Tiphone is engaged in the telecommunication equipment business, such as for celullar phone including spare parts, accessories, pulse reload vouchers,
repair service and content provider through its subsidiaries. On September 18, 2014, the Company through PINS acquired 25 ownership in Tiphone for Rp1,395 billion.
As of March 31, 2016 and December 31, 2015, the fair value of investment amounting to Rp1,325 billion and Rp1,351 billion, respectively. The fair value was calculated by multiplying number of shares by the published price quotation as of March 31,
2016 and December 31, 2015 amounting to Rp755 and Rp770 per share, respectively. Reconciliation of financial information to the carrying amount of long-term investment in Tiphone as of December 31, 2015 is
as follows:
December 31, 2015
Assets 7,800
Liabilities 4,730
Net assets 3,070
Group’s proportionate share of net assets 24.65 in 2015 757
Goodwill 647
Carrying amount of long-term investment 1,404
b
Indonusa had been a subsidiary of the Company until 2013 when the Company disposed 80 of its interest in Indonusa. On May 14, 2014, based on the Circular Resolution of the Stockholders of Indonusa as covered by notarial deed No. 57 dated
April 23, 2014 of FX Budi Santoso Isbandi, S.H., which was approved by the MoLHR in its Letter No. AHU-02078.40.20.2014 dated April 29, 2014, Indonusa’s stockholders approved an increase in its issued and fully paid capital by Rp80 billion. The
Company has waived its right to own the new shares issued and transferred it to Metra and, as a result, Metra’s ownership in Indonusa increased to 4.33.
c
Investment in Teltranet is accounted for under the equity method, which covered on an agreement between Metra and Telstra Holding Singapore Pte. Ltd. on August 29, 2014. Teltranet is engaged in communication system services. Metra does not
have control as it does not determine the financial and operating policies of Teltranet.
d
Melon is engaged in providing Digital Content Exchange Hub services “DCEH”. Metra does not have control over Melon due to the existence of substantive participating rights held by the other venturer over the financial and operating policies of
Melon.
e
ILCS is engaged in providing E-trade logistic services and other related services.
f
Telin Malaysia is engaged in telecommunication services in Malaysia.
g
CSM is engaged in providing Very Small Aperture Terminal “VSAT”, network application services and consulting services on telecommunications technology and related facilities. The unrecognized share of losses of CSM for the year ended December
31, 2015 amounting to Rp215 billion.
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PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Three Months Period Ended March 31, 2016 and 2015 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
Table of Contents
9. PROPERTY AND
