PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
DECEMBER 31, 2010 AUDITED AND MARCH 31, 2011 UNAUDITED AND THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 UNAUDITED
Figures in tables are presented in millions of Rupiah, unless otherwise stated
127
51. FINANCIAL ASSETS AND LIABILITIES
continued 2. Fair value of financial assets and liabilities
Fair value is the amount for which an asset could be exchanged, or liability settled, in an arms- length transaction.
The table below sets out the carrying amount and fair value of those financial assets and liabilities not presented on the Company’s consolidated statement of financial positions at their fair values:
March 31, 2011 Carrying value
Fair value
Two step loans 2,916,844
2,903,323 Bonds and notes
3,445,719 3,633,605
Bank loans 12,730,972
12,865,540 The Company and its subsidiaries consider the fair value of current financial assets and liabilities
approximates their carrying amount, as the impact of discounting is not significant. The fair values of long-term liabilities are estimated by discounting the future cash flows of each liability at rates
currently offered to the Company and its subsidiaries for similar debts of comparable maturities by the bankers of the Company and its subsidiaries, except for bonds which are based on market
prices.
52. SUBSEQUENT EVENTS
a. On April 19, 2011, the Company has released a full disclosure statement to the public in relation to the Company’s plan to conduct a phase IV stock repurchase program of the Company’s stock
which has been issued and listed in IDX up to 2.07 of its paid up capital with total cost not to exceed Rp.3,000,000 million which will be conduct gradually within the acquisition period that
would not be longer than 18 months upon approval from the AGM.
b. On April 19, 2011, TII withdrawn Rp.200,000 million from BCA Note 22.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
DECEMBER 31, 2010 AUDITED AND MARCH 31, 2011 UNAUDITED AND THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 UNAUDITED
Figures in tables are presented in millions of Rupiah, unless otherwise stated
128
53. RECENT ACCOUNTING PRONOUNCEMENTS IN INDONESIA
continued The recent accounting pronouncements in Indonesia that are relevant to the Company and its
subsidiaries are as follow: i
PSAK 24 Revised 2010, “Employee Benefits”. In February 2010, the DSAK issued PSAK 24 Revised 2010, “Employee Benefits” which
amends PSAK 24 Revised 2004, “Employee Benefits”. The objective of this Standard is to prescribe the accounting and disclosure for employee benefits. The Standard requires an
entity to recognise: a a liability when an employee has provided service in exchange for employee benefits to be paid in the future; and, b an expense when the entity consumes the
economic benefit arising from service provided by an employee in exchange for employee benefits. PSAK 24 Revised 2010 shall be effective for the reporting period beginning on or
after January 1, 2012. Early application is prohibited. The company and its subsidiaries are currently assessing the impact of the requirement of PSAK 24 Revised 2010, “Employee
Benefits” on the consolidated financial statements.
ii PSAK 46 Revised 2010, “Income Tax”.
In August 2010, the DSAK issued PSAK 46 Revised 2010, “Income Tax” which amends PSAK 46 Revised 1994, “Accounting for Income Tax”. The objective of this Standard is to
prescribe the accounting treatment for income taxes. The principal issue in accounting for income taxes is how to account for the current and future tax consequences of: a the future
recovery settlement of the carrying amount of assets liabilities that are recognised in an entitys statement of financial position; and b transactions and other events of the current
period that are recognised in an entitys financial statements. PSAK 46 Revised 2010 shall be effective for the reporting period beginning on or after January 1, 2012. Early application is
encouraged. However, for entities that do business combination in accordance with the requirements of PSAK 22 revised 2010, “Business Combination” is required to make early
application.
The company and its subsidiaries are currently assessing the impact of the requirement of PSAK 46 Revised 2010, “Income Tax” on the consolidated financial
statements. iii
PSAK 50 Revised 2010, “Financial Instruments: Presentation”. In May 2010, the DSAK issued PSAK 50 Revised 2010, “Financial Instruments:
Presentation” which amends PSAK 50 Revised 2006, “Financial Instruments: Presentation and Disclosures”. The objective of this Standard is to establish principles for presenting
financial instruments as liabilities or equity and for offsetting financial assets and financial liabilities. It applies to the classification of financial instruments, from the perspective of the
issuer, into financial assets, financial liabilities and equity instruments; the classification of related interest, dividends, losses and gains; and the circumstances in which financial assets
and financial liabilities should be offset. PSAK 50 Revised 2010 shall be effective for the reporting period beginning on or after January 1, 2012 and prospectively applied. Early
application is encouraged. The company and its subsidiaries are currently assessing the impact of the requirement of PSAK 50 Revised 2010, “Financial Instruments: Presentation”
on the consolidated financial statements.
