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
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11. LONG-TERM INVESTMENTS
continued
a. PT Citra Sari Makmur “CSM”
CSM is engaged in providing Very Small Aperture Terminal “VSAT”, network application services and consulting services on telecommunications technology and related facilities.
As of December 31, 2004 and 2005, the carrying amount of investment in CSM was equal to the underlying equity in net assets of CSM.
b. PT Patra Telekomunikasi Indonesia “Patrakom”
Patrakom is engaged in providing satellite communication system services, related services and facilities to companies in the petroleum industry.
On August 26, 2005, the Company purchased 10 of Patrakom’s outstanding shares from Indosat for Rp4,250 million, thereby increasing the Company’s ownership interest from 30 to 40.
As of December 31, 2004 and 2005, the carrying amount of investment in Patrakom was approximate to the underlying equity in net assets of Patrakom.
c. PT Pasifik Satelit Nusantara “PSN”
PSN is engaged in providing satellite transponder leasing and satellite-based communication services in the Asia Pacific region.
As of December 31, 2001, the Company’s share of losses in PSN has exceeded the carrying amount of the investment. Accordingly, the investment has been reduced to zero.
On August 8, 2003, as a result of share-swap transaction with CPSC, the Company’s interest in PSN effectively increased to 43.69. The Company decided to increase its ownership interest in
PSN as part of the share-swap transactions that was premised on the Company’s assessment that PSN’s satellite services will allow it to capitalize on a government program which calls for the
provision of telecommunication services to remote areas of Indonesia.
In 2005, the Company’s ownership interest was diluted to 35.5 as a result of debt to equity conversions consummated by PSN.
d. Bridge Mobile Pte. Ltd
On November 3, 2004, Telkomsel together with six other international mobile operators in Asia Pacific established Bridge Mobile Pte. Ltd. Singapore, a company that is engaged in providing
regional mobile services in the Asia Pacific region.
Telkomsel contributed US1.0 million Rp9,290 million which represents a 14.286 ownership interest.
On April 14, 2005, Telkomsel’s ownership interest was diluted to 12.50 following issuance of new shares by Bridge Mobile Pte. Ltd to a new stockholder.
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
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11. LONG-TERM INVESTMENTS
