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
40
10. LONG-TERM INVESTMENTS continued
a. 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 June 30, 2008 and 2009, the carrying amount of the investment in CSM was equal to the
Company’s share in the net assets of CSM.
b. Patrakom
Patrakom is engaged in providing satellite communication system services, related services and facilities to companies in the petroleum industry.
The increase of ownership in Patrakom in 2007 represents an adjustment arising from the difference between the book value and the initial investment made in 2005.
Pursuant to the AGM of Stockholders of Patrakom as stated in notarial deed No. 235 of Sutjipto, S.H., M.Kn. dated April 30, 2008, Patrakom’s stockholders approved the distribution of cash
dividends for 2007 amounting to Rp.4,859 million and the appropriation of Rp.607 million for general reserves. The Company’s share of the dividend amounting to Rp.1,944 million.
As of June 30, 2008 and 2009, the carrying amount of investment in Patrakom approximated to the Company’s share in the net assets of Patrakom.
c. PSN
PSN is engaged in providing satellite transponder leasing and satellite-based communication services in the Asia Pacific region. The Company’s share in losses in PSN has exceeded the
carrying amount of its investment since 2001, accordingly, the investment value has been reduced to Rp.nil.
On January 20, 2006, PSN’s stockholders agreed to issue new shares to a new stockholder. The issuance of new shares resulted in dilution of the Company’s interest in PSN to 22.38.
d. BMPL BMPL Singapore, an associated entity of Telkomsel, is engaged in providing regional mobile
services in the Asia Pacific region. Subsequently, on March 7, 2007, it was resolved that each of the stockholders shall subscribe for
1,500,000 additional shares of BMPL, subject to the accession of SK Telecom Co., Ltd “SK Telecom” as a stockholder of BMPL. However, the additional subscription of 300,000 shares
shall be cancelled if SK Telecom becomes a stockholder of BMPL.
Based on the Accession Agreement dated June 18, 2007, BMPL’s stockholders agreed to admit SK Telecom as a stockholder of BMPL. Consequently, the additional subscription of
300,000 shares was cancelled. On the same date, BMPL’s stockholders also agreed to admit Advanced Info Service Public Company Limited as a stockholder of BMPL.
Telkomsel has paid additional subscriptions of US600,000 equivalent to Rp.5,455 million and Rp.5,615 million in April and November 2007, 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
41
10. LONG-TERM INVESTMENTS continued d. BMPL continued
