FINANCIAL RISK MANAGEMENT continued

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 117

44. FINANCIAL RISK MANAGEMENT continued

2. Fair value of financial assets and financial liabilities continued b. Classification and fair value The following table presents the carrying value and estimated fair values of the Company and subsidiaries financial assets and liabilities based on their classifications: December 31, 2012 Other Total Loans and Available for financial carrying Fair Trading receivables sale liabilities amount value Cash and cash equivalents - 13,118 - - 13,118 13,118 Other current financial assets - 4,028 310 - 4,338 4,338 Trade and other receivables, net - 5,409 - - 5,409 5,409 Long-term investments - - 21 - 21 21 Advances and other non-current assets - 614 - - 614 614 Total financial assets - 23,169 331 - 23,500 23,500 Trade and other payables - - - 7,456 7,456 7,456 Accrued expenses - - - 6,163 6,163 6,163 Loans and other borrowings Short-term bank loans - - - 37 37 37 Obligations under finance leases - - - 2,324 2,324 2,324 Two-step loans - - - 1,987 1,987 2,075 Bonds and notes - - - 3,669 3,669 4,022 Long-term bank loans - - - 11,258 11,258 11,346 Total financial liabilities - - - 32,894 32,894 33,423 December 31, 2011 Other Total Loans and Available for financial carrying Fair Trading receivables sale liabilities amount value Cash and cash equivalents - 9,634 - - 9,634 9,634 Other current financial assets - 12 361 - 373 373 Trade and other receivables, net - 5,250 - - 5,250 5,250 Long-term investments - - 21 - 21 21 Advances and other non-current assets - 218 - - 218 218 Total financial assets - 15,114 382 - 15,496 15,496 Trade and other payables - - - 8,355 8,355 8,355 Accrued expenses - - - 4,790 4,790 4,790 Loans and other borrowings Short-term bank loans - - - 100 100 100 Obligations under finance leases - - - 510 510 510 Two-step loans - - - 2,284 2,284 2,357 Bonds and notes - - - 3,786 3,786 3,974 Long-term bank loans - - - 11,191 11,191 11,325 Total financial liabilities - - - 31,016 31,016 31,411 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 118

44. FINANCIAL RISK MANAGEMENT continued