F-70 PERUSAHAAN PERSEROAN PERSERO
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of January 1, 2012 Restated, December 31, 2012 Restated and December 31, 2013 and for the years ended December 31, 2011 Restated, 2012 Restated and 2013
Figures in tables are presented in billions of rupiah, unless otherwise stated 19. LONG-TERM LOANS AND OTHER BORROWINGS continued
c. Bank loans continued The credit facilities obtained by the Group are used for working capital purposes.
a
As stated in the agreements, the Group is required to comply with all covenants or restrictions such as dividend distribution, obtaining new loans, including maintaining financial ratios. As of December 31, 2013, the Group has
complied with all covenants or restrictions.
b
Telkomsel has no collateral for its bank loans, or other credit facilities. The terms of the various agreements with Telkomsel’s lenders and financiers require compliance with a number of pledges and negative pledges as
well as financial and other covenants, which include, among other things, certain restrictions on the amount of dividends and other profit distributions which could adversely affect Telkomsel’s capacity to comply with its
obligation under the facility. The terms of the relevant agreements also contain default and cross default clauses. As of December 31, 2013, Telkomsel has complied with the above covenants.
c
In January 2012, the availability periods of the facilities from BCA and Bank Mandiri expired.
d
Pursuant to the agreements with PT Ericsson Indonesia “Ericsson Indonesia” and Ericsson AB Note 38a.ii, Telkomsel entered into an EKN-Backed Facility Agreement “facility” with ABN Amro Bank N.V. Stockholm
branch as “the original lender” and Standard Chartered Bank as “the original lender” , “the arranger”, “the facility agent” and “the EKN agent” and ABN Amro Bank N.V., Hong Kong as “the arranger” for the purchase
of Ericsson telecommunication equipment and services. The facilities consist of facility 1, 2 and 3 amounting to US117 million, US106 million and US95 million, respectively. The availability period of facility 1, 2 and 3
expired in July 2010, March 2011 and November 2011, respectively. In October 2011, EKN agreed to reduce the premium of the unused facility by US3 million through a cash refund.
e
In connection with the agreement with NSW-Fujitsu Consortium, the Company entered into a loan agreement with JBIC, the international arm of Japan Finance Corporation, for the purchase of NSW-Fujitsu Consortium
telecommunication equipment and services. The facilities consist of facility A and B amounting to US36 million and US24 million, respectively.
f
Based on the latest amendment on March 31, 2011
g
Based on the latest amendment in 2013
h
In March 2013, the bank loan was fully repaid by Sigma through refinancing with BNI.
i
In August 2013, the bank loan was rescheduled up to February 2015.
j
In connection with the agreement with NEC Corporation Consortium and TE SubCom, the Company entered into a loan agreement with JBIC, for the procurement of goods and services from NEC Corporation Consortium
and TE SubCom for the Southeast Asia Japan Cable System Project. The facilities consist of facility A and facility B amounting to US18.8 million and US12.5 million, respectively.
20. NON-CONTROLLING INTERESTS 2012
2013
Non-controlling interests in net assets of subsidiaries: Telkomsel
15,218 16,752
Metra 65
89 GSD
31 58
Patrakom -
2
Total 15,314
16,901 2012
2013
Non-controlling interests in total comprehensive income of subsidiaries: Telkomsel
5,532 6,211
Metra 14
22 Patrakom
- GSD
1 6
Total 5,545
6,227
F-71 PERUSAHAAN PERSEROAN PERSERO
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of January 1, 2012 Restated, December 31, 2012 Restated and December 31, 2013 and for the years ended December 31, 2011 Restated, 2012 Restated and 2013
Figures in tables are presented in billions of rupiah, unless otherwise stated 20. NON-CONTROLLING INTERESTS continued
Material partly-owned subsidiary As of December 31, 2012 and 2013, a non-controlling interest holds 35 ownership interests of Telkomsel Note 1d
which is considered material to the Company. The summarized financial information of Telkomsel is provided below. This information is based on amounts before
inter-company eliminations. Summarized statements of comprehensive income
2012 2013
Revenue 54,531
60,031 Operating expenses
33,519 36,761
Other expenses 22
180
Profit before tax 20,990
23,090
Income tax 5,264
5,748
Profit for the year from continuing operations 15,726
17,342 Total comprehensive income
15,812 17,746
Attributable to non-controlling interest 5,532
6,211 Dividend paid to non-controlling interest
3,591 4,675
Summarized statements of financial position
2012 2013
Current assets 13,582
16,603 Non-current assets
49,262 56,642
Current liabilities 13,039
16,406 Non-current liabilities
6,324 8,971
Total equity 43,481
47,868
Attributable to: Equity holders of parent
28,263 31,116
Non-controlling interest 15,218
16,752 Summarized statements of cash flows
2012 2013
Operating 26,229
29,602 Investing
13,527 14,444
Financing 12,191
14,789
Net increase in cash and cash equivalents 511
369
F-72 PERUSAHAAN PERSEROAN PERSERO
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of January 1, 2012 Restated, December 31, 2012 Restated and December 31, 2013 and for the years ended December 31, 2011 Restated, 2012 Restated and 2013
Figures in tables are presented in billions of rupiah, unless otherwise stated 21. CAPITAL STOCK
2012 Description
Number of shares
Percentage of ownership
Total paid-up capital
Series A Dwiwarna share Government
1 -
Series B shares Government
51,602,353,559 53.90
2,580 The Bank of New York Mellon Corporation
10,988,441,080 11.48
549 Directors Note 1b:
Indra Utoyo 27,540
- Honesti Basyir
540 -
Priyantono Rudito 540
- Sukardi Silalahi
540 -
Public individually less than 5 33,154,520,300
34.62 1,658
Total 95,745,344,100
100.00 4,787
Treasury stock Note 23 5,054,652,300
- 253
Total 100,799,996,400
100.00 5,040
2013 Description
Number of shares Percentage of
ownership Total paid-up
capital
Series A Dwiwarna share Government
1 -
Series B shares Government
51,602,353,559 53.14
2,580 The Bank of New York Mellon Corporation
10,031,129,780 10.33
502 Directors Note 1b:
Indra Utoyo 27,540
- Honesti Basyir
540 -
Priyantono Rudito 540
- Sukardi Silalahi
540 -
Public individually less than 5 35,467,341,100
36.53 1,773
Total 97,100,853,600
100.00 4,855
Treasury stock Note 23 3,699,142,800
- 185
Total 100,799,996,400
100.00 5,040
The Bank of New York Mellon Corporation serves as the depositary of the registered ADS holders for the Company’s ADSs. After stock split Note 1c.
The Company issued only 1 Series A Dwiwarna share which is held by the Government and cannot be transferred to any party, and has a veto in the General Meeting of Stockholders of the Company with respect to election and
removal from the Boards of Commissioners and Directors, issuance of new shares, and amendments of the Company’s Articles of Association.
Pursuant to the AGM of Stockholders of the Company as stated in notarial deed No. 21 dated May 19, 2011 of A. Partomuan Pohan, S.H., LLM., the Company’s stockholders agreed on the distribution of cash dividends for 2010
amounting to Rp6,345 billion or Rp64.52 per share of which Rp526 billion or Rp5.35 per share was distributed as an interim cash dividend in December 2010.
Pursuant to the AGM of Stockholders of the Company as stated in notarial deed No. 14 dated May 11, 2012 of Ashoya Ratam, S.H., MKn., the Company’s stockholders agreed on the distribution of cash dividend and special cash
dividend for 2011 amounting to Rp6,031 billion and Rp1,096 billion, respectively. On June 22, 2012 the Company paid the above-mentioned cash dividend and special cash dividend totaling Rp7,127 billion.
F-73 PERUSAHAAN PERSEROAN PERSERO
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of January 1, 2012 Restated, December 31, 2012 Restated and December 31, 2013 and for the years ended December 31, 2011 Restated, 2012 Restated and 2013
Figures in tables are presented in billions of rupiah, unless otherwise stated 21. CAPITAL STOCK continued
Pursuant to the AGM of Stockholders of the Company as stated in notarial deed No.38 dated April 19, 2013 of Ashoya Ratam, S.H.,Mkn. the Company’s stockholders agreed on the distribution of cash dividend and special cash dividend
for 2012 amounting to Rp7,068 billion and Rp1,286 billion, respectively. On June 18, 2013, the Company paid the cash dividend and special cash dividend totalling Rp8,354 billion.
22. ADDITIONAL PAID-IN CAPITAL 2012
