PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2008 AND 2009,
AND SIX MONTHS PERIOD ENDED JUNE 30, 2008 AND 2009 Figures in tables are presented in millions of Rupiah, unless otherwise stated
67
24. DEFERRED CONSIDERATION FOR BUSINESS COMBINATIONS continued
a. TII transaction The outstanding balance relating to the TII transaction represents non-interest bearing
promissory notes which were included in the purchase consideration, and arose from the acquisition of the 100 outstanding common shares of TII previously the Company’s KSO III
partner on July 31, 2003. These promissory notes have initial face value of US109.1 million equivalent to Rp.927,272 million. The promissory notes are payable in 10 equal semi-annual
installments beginning July 31, 2004 and a present value at a discount rate of 5.16 at the closing date of US92.7 million equivalent to Rp.788,322 million.
As of June 30, 2008, the outstanding promissory notes, before unamortized discount, amounted to US21.8 million equivalent to Rp.201,273 million and on January 30, 2009, the promissory
notes was fully repaid
b. KSO IV transaction The outstanding balance relating to the KSO IV transaction arose from acquisition of KSO IV by
the Company, based on amendment and restatement of KSO agreement entered into by the Company and MGTI on January 20, 2004. Based on the agreement, in consideration for the
Company’s obtaining legal right to control the financial and operating decision of KSO IV, the Company has agreed to pay MGTI the total purchase price of approximately US390.7 million
equivalent to Rp.3,285,362 million, which represents the present value of fixed monthly payments totaling US517.1 million, payable to MGTI beginning February 2004 through
December 2010 at a discount rate of 8.3, plus the direct cost of the business combination.
As of June 30, 2008 and 2009, the remaining monthly payments to be made to MGTI, before unamortized discount, amounted to US206.4 million equivalent to Rp.1,904,234 million and
US128.3 million equivalent to Rp.1,310,917 million, respectively. c. KSO VII transaction
The outstanding balance relating to the KSO VII transaction arose from acquisition of KSO VII by the Company, based on amendment and restatement of KSO agreement entered into by the
Company and BSI on October 19, 2006. Based on the agreement, in consideration for the Company’s obtaining legal right to control the financial and operating decision of KSO VII, the
Company has agreed to pay BSI the total purchase price of approximately Rp.1,770,925 million which represents the present value of fixed monthly payments totaling Rp.2,359,230 million,
payable to BSI beginning October 2006 through December 2010 at a discount rate of 15, plus the direct cost of the business combination.
As of June 30, 2008 and 2009, the remaining monthly payments to be made to BSI, before unamortized discount, amounted to Rp.1,357,803 million and Rp.831,576 million, respectively.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2008 AND 2009,
AND SIX MONTHS PERIOD ENDED JUNE 30, 2008 AND 2009 Figures in tables are presented in millions of Rupiah, unless otherwise stated
68
25. MINORITY INTEREST 2008
