0.10 FINANCIAL RISK MANAGEMENT continued

PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated 114

44. FINANCIAL RISK MANAGEMENT continued

1. Financial risk management continued d. Credit risk continued The Company and subsidiaries are exposed to credit risk primarily from trade receivables and other receivables. The credit risk is managed by continuous monitoring of outstanding balances and collection of trade and other receivables. Trade and other receivables do not include any major concentration of credit risk by customer. Each of the top three customers account for less than 1 of the trade receivables as at September 30, 2013. Management is confident in its ability to continue to control and sustain minimal exposure to credit risk given that the Company and subsidiaries have provided sufficient provision for impairment of receivables to cover incurred loss arising from uncollectible receivables based on existing historical data on credit losses. e. Liquidity risk Liquidity risk arises in situations where the Company and subsidiaries have difficulties in fulfilling financial liabilities when they become due. Prudent liquidity risk management implies maintaining sufficient cash and cash equivalents in order to meet the Company and subsidiaries’ financial obligations. The Company and subsidiaries continuously perform an analysis to monitor financial position ratios, among other things, liquidity ratios, debt equity ratios against debt covenant requirements. The following is the maturity profile of the Company and subsidiaries’ financial liabilities: Carrying Contractual 2017 and amount cash flows 2013 2014 2015 2016 thereafter September 30, 2013 Trade and other payables 9,552 9,552 9,552 - - - - Accrued expenses 5,656 5,656 5,656 - - - - Loans and other borrowings Bank loans 9,871 11,581 3,138 2,229 3,537 1,271 1,406 Obligations under finance leases 4,236 6,689 1,800 236 743 695 3,215 Two-step loans 1,993 2,437 297 110 287 280 1,462 Bonds and notes 3,461 5,005 662 135 1,292 206 2,710 Total 34,769 40,920 21,105 2,710 5,859 2,452 8,793 Carrying Contractual 2017 and amount cash flows 2013 2014 2015 2016 thereafter December 31, 2012 Trade and other payables 7,456 7,456 7,456 - - - - Accrued expenses 6,163 6,163 6,163 - - - - Loans and other borrowings Bank loans 11,295 12,585 5,118 3,869 2,518 602 478 Obligations under finance leases 2,324 3,172 652 548 398 354 1,220 Two-step loans 1,987 2,462 283 277 270 263 1,369 Bonds and notes 3,669 5,462 757 505 1,287 203 2,710 Total 32,894 37,300 20,429 5,199 4,473 1,422 5,777 The difference of carrying amount and contractual cash flows is interest value. PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated 115

44. FINANCIAL RISK MANAGEMENT continued