PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
79
27. TREASURY STOCK continued
Based on the resolution at the AGM of Stockholders of the Company on May 19, 2011, the stockholders authorized the phase IV plan to repurchase the Company’s issued and outstanding
Series B shares. The proposal was to undertake a stock repurchase program with the following terms and conditions: i maximum stock repurchase would be 645,161,290 of the Company’s issued
Series B shares with total cost not to exceed Rp.5,000,000 million; and ii the period determined for the acquisition would not be longer than 18 months May 19, 2011 to November 20, 2012.
On May 23, 2011, the Company has released a full disclosure statement to the public in relation with fund allocation addition for phase IV stock repurchase program from Rp.3,000,000 million to
Rp.5,000,000 million.
As of December 31, 2010 and September 30, 2011, the Company has repurchased 490,574,500 and 631,883,000 of the Company’s issued and outstanding Series B shares, respectively, representing
2.43 and 3.13 of the Company’s issued and outstanding Series B shares, for a total repurchase amount of Rp.4,264,073 million and Rp.5,293,049 million up to 2010 and 2011, respectively,
including broker’s commissions and custodian fees.
The Company has planned to retain, sell or use the treasury stock for other purposes in accordance with BAPEPAM-LK Regulation No. XI.B.2 and under Law No. 402007 on Limited Liability
Companies.
Pursuant to the AGM of Stockholders of the Company dated June 11, 2010, the stockholders approved the changes to the Company’s plan for used of the treasury stock as result of the Share
Buy Back I, II and III, as follows: i market placement; ii cancellation; iii equity conversion; and iv funding.
2010 2011
Number Number
of shares Rp.
of shares Rp.
Balance beginning 490,574,500
4,264,073 490,574,500 4,264,073
Number of shares acquired -
- 141,308,500 1,028,976
Balance ending 490,574,500
4,264,073 631,883,000 5,293,049
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
80
28. DIFFERENCE IN VALUE ARISING FROM RESTRUCTURING TRANSACTIONS AND OTHER TRANSACTIONS BETWEEN ENTITIES UNDER COMMON CONTROL
The balance of this account amounting to Rp.478,000 million arose from the early termination of the Company’s exclusive rights to provide local and domestic fixed line telecommunication services. As
discussed in Note 1a, on December 15, 2005, the Company signed an Agreement on Implementation of Compensation for Termination of Exclusive Rights with the State MoCI - DGPT, which was
amended on October 18, 2006. Pursuant to this agreement, the Government agreed to pay Rp.478,000 million, net of tax, to the Company over a five-year period. In addition, the Company is
required by the Government to use the funds received from this compensation for the development of telecommunication infrastructure. As of December 31, 2010 and September 30, 2011, the
development of the related infrastructure amounted to Rp.537,304 million, respectively.
As of December 31, 2010 and September 30, 2011, the Company has received an aggregate of Rp.478,000
million, respectively,
in relation
to the
compensation for
the early
termination of exclusivity rights, made up of annual payments of Rp.90,000 million from 2005 to 2008 and Rp.118,000 million on August 25, 2009, respectively. The Company recorded these amounts in
“Difference in value arising from restructuring transactions and other transactions between entities under common control” in the Stockholders’ Equity section. These amounts are recorded as a
component of Stockholders’ Equity because the Government is the majority and controlling stockholder of the Company.
29. TELEPHONE REVENUES 2010
2011
Fixed lines Usage charges
7,058,421 6,181,704
Monthly subscription charges 2,457,293
2,278,723 Installation charges
74,834 101,104
Others 156,752
186,374 Total
9,747,300 8,747,905
Cellular Usage charges
20,616,021 20,007,389
Features 666,580
526,249 Monthly subscription charges
362,191 407,652
Connection fee charges 38,991
1,452 Total
21,683,783 20,942,742
Total Telephone Revenues 31,431,083
29,690,647
as restated, refer to Note 2p
