COMMITMENTS continued Capital Expenditures continued
50. COMMITMENTS continued
b. Agreements on Derivative Transactions Telkomsel is exposed to market risks, primarily changes in foreign exchange rates, and uses derivative instruments in hedging such risk. None of the derivative transactions entered into by Telkomsel during 2004 and 2005 met the PSAK 55 criteria for hedge accounting. Therefore, changes in the fair value of the derivative financial instruments were recognized in the consolidated statements of income. Telkomsel purchases equipment from several overseas suppliers and, as a result, is exposed to fluctuations in foreign currency exchange rates. In 2004 and 2005, Telkomsel entered into forward foreign exchange contracts with Deutsche Bank, Standard Chartered Bank, The Hongkong and Shanghai Banking Corporation and Citibank Jakarta to mitigate the foreign exchange risks relating to its purchases. The primary purpose of Telkomsel’s foreign currency hedging activities is to protect against the volatility associated with foreign currency purchases of equipment and other assets in the normal course of business. The following table presents the aggregate notional amounts of Telkomsel’s foreign exchange forwards entered into in 2004 and 2005: 2005 Citibank - U.S. Dollar The Hongkong and Shanghai Banking Corporation - Euro Deutsche Bank - U.S. Dollar Standard Chartered Bank - Euro 15 - 2004 15 - in millions in millions - 30 25 30 As of December 31, 2004, all of the forward contracts with Standard Chartered Bank and Citibank had been closed and the outstanding contract with Deutsche Bank amounted to US5 million. A receivable to reflect the gain on the difference between the contract rate and the rate prevailing as of December 31, 2004 amounting to Rp1,020 million was included in “Other Receivables” in the consolidated balance sheet. As of December 31, 2005, all of the forward contracts had been closed. PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2004 AND 2005, AND FOR YEARS ENDED DECEMBER 31, 2004 AND 2005 Figures in tables are presented in millions of Rupiah, unless otherwise stated - 12550. COMMITMENTS continued
Parts
» saRTOnO , Independent Commissioner TELKOM for web upload
» liquidity and Capital Resources
» Commitments on Capital expenditures
» GENERAL continued a. Establishment and General Information continued
» GENERAL continued b. Public offering of shares of the Company
» GENERAL continued Public offering of shares of the Company
» GENERAL continued c. Subsidiaries
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Principles of consolidation sartono
» Transactions with related parties
» Foreign currency translation sartono
» Cash and cash equivalents Trade and other accounts receivable
» Property, plant and equipment under capital leases
» Revenue-sharing arrangements Joint operation schemes continued
» Deferred charges for landrights Income tax
» Earnings per share and earnings per American Depositary Share “ADS”
» TRANSLATION OF RUPIAH INTO UNITED STATES DOLLARS
» CHANGES IN METHODS OF ACCOUNTING continued
» ACQUISITION OF KSO INVESTORS AND KSO IV continued
» ACQUISITION OF KSO INVESTORS AND KSO IV continued c. AWI continued
» CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS continued
» CASH AND CASH EQUIVALENTS continued TRADE ACCOUNTS RECEIVABLE continued
» TRADE ACCOUNTS RECEIVABLE continued
» INVENTORIES Pro forma operating results related to acquisition of KSO investors and KSO IV
» PT Patra Telekomunikasi Indonesia “Patrakom”
» PT Pasifik Satelit Nusantara “PSN”
» LONG-TERM INVESTMENTS Medianusa Pte. Ltd.
» PROPERTY, PLANT AND EQUIPMENT
» PROPERTY, PLANT AND EQUIPMENT continued
» PROPERTY, PLANT AND EQUIPMENT UNDER REVENUE-SHARING ARRANGEMENTS
» GOODWILL AND OTHER INTANGIBLE ASSETS
» TRADE ACCOUNTS PAYABLE Citibank N.A., Singapore
» ACCRUED EXPENSES Citibank N.A., Singapore
» UNEARNED INCOME SHORT-TERM BANK
» SHORT-TERM BANK Citibank N.A., Singapore
» TWO-STEP LOANS Citibank N.A., Singapore
» TWO-STEP LOANS NOTES AND BONDS
» NOTES AND BONDS continued NOTES AND BONDS continued
» NOTES AND BONDS continued BANK LOANS
» BANK LOANS continued Citibank N.A., Singapore
» BANK LOANS continued BANK LOANS continued
» BANK LOANS Citibank N.A., Singapore
» BANK LOANS continued LIABILITIES OF BUSINESS ACQUISITIONS
» MINORITY INTEREST Citibank N.A., Singapore
» CAPITAL STOCK Citibank N.A., Singapore
» ADDITIONAL PAID-IN CAPITAL Citibank N.A., Singapore
» DIFFERENCE IN VALUE OF RESTRUCTURING TRANSACTIONS BETWEEN ENTITIES
» TELEPHONE REVENUES REVENUE UNDER JOINT OPERATION SCHEMES
» REVENUE-SHARING ARRANGEMENT Citibank N.A., Singapore
» PERATING EXPENSES — PERSONNEL PERATING EXPENSES - OPERATIONS, MAINTENANCE AND TELECOMMUNICATION
» PT Mandara Selular Indonesia “Mobisel” Taxes payable
» INCOME TAX continued Deferred tax assets and liabilities
» The Company Infomedia sartono
» POST-RETIREMENT HEALTH CARE BENEFITS
» POST-RETIREMENT HEALTH CARE BENEFITS continued
» RELATED PARTY INFORMATION continued
» The Company Government of the Republic of Indonesia continued
» Trade accounts receivable, net Note 7 419,104
» Other accounts receivable sartono
» Prepaid expenses Note 9 sartono
» Other current assets Note 10 44,608
» Advances and other non-current assets Note 14
» T rade accounts payable N ote 17 A ccrued expenses N ote 18
» Short-term bank loans N ote 20 T w o-step loans N ote 22
» SEGMENT INFORMATION L ong-term bank loans N ote 24
» JOINT OPERATION SCHEMES “KSO” continued
» TELECOMMUNICATIONS SERVICES TARIFFS L ong-term bank loans N ote 24
» TELECOMMUNICATIONS SERVICES TARIFFS continued
» A ccrued post-retirem ent health care benefits N ote 44 Airtime
» TELECOMMUNICATIONS SERVICES TARIFFS continued COMMITMENTS
» COMMITMENTS continued Capital Expenditures continued
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