PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2014 and for the Six Months Period Then Ended unaudited
Figures in tables are expressedin billions of rupiah, unless otherwise stated
39
3. BUSINESS COMBINATIONS continued a. Acquisitions continued
Acquisition of Patrakomcontinued Patrakom is a satellite-based closed fixed telecommunications network operator and as provider
of communications solutions and network with a permit as Operator of Micro Earth StationsCommunications
Systems “SKSBM”
in partnership
with manufacturers
of telecommunications equipment to serve various companies.Through the acquisition of Patrakom,
the Company canintegrate Patrakom’s business activities in accordance with the Company’s business development plan.
The fair values of the assets acquired and liability transferred at the acquisition dates are as follows:
GCI Patrakom
Total Cash and equivalents
3 39
42 Other current assets
18 122
140 Property and equipment Note 11
225 171
396 Current liabilities
15 171
186 Non-current liabilities
16 45
61 Fair value of the identifiable net
assets acquired 215
116 331
Bargain purchase 42
- 42
Fair value of previously held equity interests -
46 46
Fair value of the consideration transferred 173
70 243
The excess of fair value of the identifiable net assets acquired over the fair value of the consideration transferred, amounting Rp42 billion, was recorded as other income in the
consolidated statement of comprehensive income of the current year. Cost related to the acquisition amounting to Rp4.3 billion was incurred in the current period.
Since the acquisition dates, GCI and Patrakom has generated operating revenue amounting to Rp23billion.
The business combination transactions mentioned above complied to the related Bapepam-LK Regulations.
b. Disposal of Indonusa
On October 8, 2013, the Company sold 80 of its ownership in Indonusa to PT Trans Corpora and PT Trans Media Corpora for Rp926 billion. Further, on the same date, the Company, Metra
and PT Trans Corpora signed a Shareholders Agreement that establishes mutual relationship among the shareholders of Indonusa, including the grant of the right to the Company and Metra to
sell their 20 remaining ownership in Indonusa to PT Trans Corpora at any time in 24 months after the second year ofthe closing transaction at a certain price Put Option.
The Company had received the full payment for the sale transaction.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2014 and for the Six Months Period Then Ended unaudited
Figures in tables are expressedin billions of rupiah, unless otherwise stated
40
3. BUSINESS COMBINATION continued b. Disposal of Indonusa continued
The Company recognized the gain on sale of Indonusa shares in the consolidated statement of comprehensive income of thecurrent year as follows:
Amount
Fair value of considerations received: Cash
926 Put Option
289 Fair value of interest retainedin Indonusa Note 10
182 Carrying amount of assets and liabilities of Indonusa
14 Gain on sale of shares
1,383 4. CASH AND CASH EQUIVALENTS
June 30, 2014 December 31, 2013
Cash on hand 30
7 Cash in banks
Related parties Rupiah
PT Bank Mandiri Persero Tbk “Bank Mandiri” 878
804 PT Bank Negara Indonesia Persero Tbk “BNI”
262 409
PT Bank Rakyat Indonesia Persero Tbk “BRI” 170
70 Others
16 56
1,326 1,339
Foreign currencies Bank Mandiri
545 458
BNI 143
224 BRI
36 75
724 757
Sub-total 2,050
2,096 Third parties
Rupiah Deutsche Bank AG “DB”
45 62
Others each below Rp50 billion 106
163 151
225 Foreign currencies
Standard Chartered Bank “SCB” 322
313 Hong Kong and Shanghai Banking Corporation Ltd
“HSBC” 87
66 Others
48 36
457 415
Sub-total 608
640 Total cash in banks
2,658 2,736
4. CASH AND CASH EQUIVALENTS continued
