PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
52
19. SHORT-TERM BANK LOANS continued
f. Bank Bumiputera
On February 15, 2006, GSD entered into a Rp.8,000 million loan agreement with Bank Bumiputera with an interest rate of 17 per annum, unsecured and repayable by monthly
installment within 12 months from the signing date to February 15, 2007. On February 27, 2007, the loan agreement was amended to extend the maturity period to February 27, 2008. As of
December 31, 2006, the loan was fully drawn-down. The principal outstanding as of September 30, 2007, amounted to Rp.8,000 million and on November 23, 2007, the loan was
fully repaid.
g. Bank Ekonomi On June 11, 2008 Sigma entered into a Rp.7,000 million short-term loan agreement with Bank
Ekonomi for working capital purpose. The loan bears interest rate of 12.50 per annum and repayable within 3 months from the signing date to September 11, 2008. This facility is secured
by Sigma’s account receivables Note 6 amounted to Rp.14,000 million. On September 11, 2008 the loan was fully repaid.
20. MATURITIES OF LONG-TERM LIABILITIES
a. Current maturities
Notes 2007
2008
Bank loans 23
2,549,849 4,814,589
Deferred consideration for business combinations 24 1,079,988
1,141,940 Two-step loans
21 452,379
437,353 Obligations under capital leases
11 26,025
56,700
Total 4,108,241
6,450,582
b. Long-term portion
In billions of Rupiah Notes
Total 2009 2010 2011 2012 Later
Bank loans 23 6,439.3 1,193.6 3,521.2 1,170.2 260.4 293.9
Two-step loans 21 3,468.1
89.6 414.7 387.4 389.3 2,187.1
Deferred consideration for business combinations
24 1,609.7 280.0 1,221.6
108.1 -
- Obligations under capital leases 11 228.4
67.8 73.5
55.4 26.6
5.1
Total 11,745.5 1,631.0 5,231.0 1,721.1 676.3 2,486.1
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
53
21. TWO-STEP LOANS
a. Two-step loans are unsecured loans obtained by the Government from overseas banks and consortium of contractors, which are then re-loaned to the Company. The loans entered into up to
July 1994 were recorded and payable in Rupiah based on the exchange rate at the date of drawdown. Loans entered into after July 1994 are payable in their original currencies and any
resulting foreign exchange gain or loss is borne by the Company. The details of the two-step loans are as follows:
Interest rate Outstanding
Creditors 2007
2008 2007
2008
Overseas banks 3.10 - 12.14 3.10 - 12.27
4,149,278 3,905,478
Consortium of contractors 3.20
- 29,723
- Total
4,179,001 3,905,478
Current maturities Note 20a 452,379
437,353
Long-term portion Note 20b 3,726,622
3,468,125
b. The details of two-step loans obtained from overseas banks as of September 30, 2007 and 2008 are as follows:
Interest rate Outstanding
Currencies 2007
2008 2007
2008
U.S. Dollars 4.00 - 7.39 4.00 - 6.67
1,626,333 1,495,692
Rupiah 12.14 8.97 - 12.27
1,457,832 1,269,205
Japanese Yen 3.10
3.10 1,065,113
1,140,581
Total 4,149,278
3,905,478
The loans are intended for the development of telecommunications infrastructure and supporting equipment. The loans are repayable in semi-annual installments and are due on various dates
through 2024.
The two-step loans which are payable in Rupiah bear either fixed interest rates and floating rates based upon the average interest rate on three-month SBI during the six-months preceding the
installment due date plus 1 per annum, and floating interest rate offered by the lenders plus 5.25 per annum. Two-step loans which are payable in foreign currencies bear either fixed rate
interests and the floating interest rate offered by the lenders, plus 0.5 per annum.
c. The two-step loans obtained from a consortium of contractors as of September 30, 2007 consisted of loans in Japanese Yen with an interest rate of 3.20 per annum.
The consortium of contractors consists of Sumitomo Corporation, PT NEC Nusantara Communications and PT Humpuss Elektronika SNH Consortium. The loans were obtained to
finance the second digital telephone exchange project. The loans are repayable in semi-annual installments and are due on various dates through June 15, 2008.
On June 15, 2008 the loan was fully repaid.
