FINANCIAL RISK MANAGEMENT Others

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2011 AND 2010, AND YEARS ENDED DECEMBER 31, 2011 AND 2010 Figures in tables are presented in billions of Rupiah, unless otherwise stated 110

46. SUBSEQUENT EVENTS continued

d. On February 2, 2012, Telkomsel repaid Rp.466 billion of loans obtained from OCBC NISP Note 20. e. On March 12, 2012, Telkomsel received assessment letters as a result of tax audit for fiscal year 2010 by the Tax Authorities. Based on the letters, Telkomsel overpaid the Corporate Income Tax and underpaid the Value Added Tax amounted to Rp.597.4 billion Note 31 and Rp.302.7 billion including a penalty of Rp.73.3 billion, respectively. Telkomsel accepted the overpayment of Corporate Income Tax and Rp.12.1 billion of underpayment of Value Added Tax including a penalty of Rp.6.3 billion. Considering that the amount is insignificant, the accepted portion was charged to the 2012 consolidated statement of comprehensive income. Telkomsel plans to file an objection to the Tax Authorities for underpayment of Value Added Tax of Rp.290.7 billion including a penalty of Rp.67 billion. f. As of March 29, 2012, the Company had repurchased 940,125,460 shares equivalent to 4.66 of the issued and outstanding Series B shares, for a repurchase price of Rp.7,474 billion, including broker and custodian fees Notes 1c and 24.

47. ACCOUNTS RECLASSIFICATION

Certain accounts in the consolidated financial statement for the years period begining January 1, 2010 and ended December 31, 2009 and 2010 has been reclassified to conform with the presentation of accounts of the consolidated financial statements for the years ended December 31, 2011, with details of significant accounts reclassification are as follows: Before After reclassification Reclassification reclassification CONSOLIDATED STATEMENT OF FINANCIAL POSITION JANUARY 1, 2010: ASSETS NON-CURRENT ASSETS Prepaid pension benefit cost 1 208 209 LIABILITIES NON-CURRENT LIABILITIES Pension and other post- retirement benefits costs provisions 809 208 1,017 110 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2011 AND 2010, AND YEARS ENDED DECEMBER 31, 2011 AND 2010 Figures in tables are presented in billions of Rupiah, unless otherwise stated 111

47. ACCOUNTS RECLASSIFICATION continued

Before After reclassification Reclassification reclassification CONSOLIDATED STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2010: ASSETS NON-CURRENT ASSETS Prepaid pension benefit cost 1 743 744 LIABILITIES NON-CURRENT LIABILITIES Pension and other post- retirement benefits costs provision 537 743 1,280 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2010 EXPENSES Personnel 7,517 185 7,332 General and administrative 2,352 185 2,537 48. SUMMARY OF SIGNIFICANT DIFFERENCES BETWEEN IFAS AND IFRS The following tables set forth a reconciliation of consolidated statements of financial position as of December 31, 2011 and consolidated statements of comprehensive income for the year ended December 31, 2011, in each case between IFRS and IFAS consolidated financial statements.