PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2017 and For the Six Months Period Then Ended unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
14
1. GENERAL continued d.
Subsidiaries continued
c Jalin On November 3, 2016, the Company established a wholly-owned subsidiary under the name
PT Jalin Pembayaran Nusantara “Jalin” which was approved by the MoLHR through its Decision Letter No. AHU-0050800.AH.01.01 dated November 15, 2016. Jalin is engaged in
organizing ICT Information, Communication Telecommunication business focusing on non cash payment to support national payment gateway.
d Metranet On November 10, 2016, Metranet increased its share capital from Rp244 billion to Rp325 billion
by issuing 18,800,000 new shares which were wholly-owned by the Company. Based on notarial deed of Utiek Rochmuljati Abdurachman, S.H., M.LI, M.Kn., No. 08 and 09
dated November 14, 2016, Metranet purchased 4,900,000 shares of Melon equivalent to 49 ownership from SK Planet Co. and 300,000 shares of Melon equivalent to 3 ownership
from Metra amounting to US13,000,000 or Rp170.4 billion and Rp13.2 billion, respectively. As a result of this transaction, Metranet acquired 52 ownership in Melon and the remaining
shares are held by Metra.
e. Authorization for the issuance of the consolidated financial statements
The consolidated financial statements were prepared and approved for issuance by the Board of Directors on July 26, 2017.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2017 and For the Six Months Period Then Ended unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
15
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Company and subsidiaries co llectively referred to as “the
G roup” have been prepared in accordance with Financial Accounting Standards Standar Akuntansi
Keuangan” or “SAK including Indonesian Statement of Financial Accounting Standards Pernyataan Standar Akuntansi Keuangan
or “PSAK” and interpretation of Financial Accounting Standards Interpretasi Standar Akuntansi Keuangan
or “ISAK” in Indonesia published by the Financial Accounting Standards Board of Indonesian Institute of Accountant and Regulation No. VIII.G.7 of the
Capital Market and Financial Institution Supervisory Agency “Bapepam-LK” regarding the Presentation and Disclosure of Financial Statements of Issuers or Public Companies, enclosed in the
decision letter KEP-347BL2012.
a. Basis of preparation of financial statements
The consolidated financial statements, except for the consolidated statements of cash flows, are prepared on the accrual basis. The measurement basis used is historical cost, except for certain
accounts which are measured using the basis mentioned in the relevant notes herein. The consolidated statements of cash flows are prepared using the direct method and present the
changes in cash and cash equivalents from operating, investing and financing activities. Figures in the consolidated financial statements are presented and rounded to billions of
Indonesian rupiah “Rp”, unless otherwise stated. Accounting Standards Issued but not yet Effective
Effective January 1, 2018: Amendments to PSAK 2: Statement of Cash Flows on Disclosure Initiative.
These amendments require the entity to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both
changes arising from cash flows and non-cash changes.
Amendments to PSAK 46: Income Taxes on Recognition of Deferred Tax Assets for Unrealised Losses.
These amendments: - Add illustrative examples to clarify that the deductible temporary differences arise when the
carrying amount of debt instruments measured at fair value and the fair value is less than the taxable base, regardless of whether the entity expects to recover the carrying amount
of a debt instrument by sale or by use, for example by holding it and collecting contractual cash flows, or a combination of both.
- Clarify that in order to assess whether taxable profits will be available against which it can utilise a deductible temporary difference, the assessment of that deductible temporary
difference carried out in accordance with tax law. - Clarify that tax reduction from the reversal of deferred tax assets is excluded from the
estimation of future taxable profit. The entity compares the deductible temporary differences with future taxable profit that excludes tax deductions resulting from the reversal of those
deductible temporary differences to assess whether the entity has sufficient future taxable profit.
- The estimate of probable future taxable profit may include the recovery of some of an entity’s
assets for more than their carrying amount if there is sufficient evidence that it is probable that the entity will achieve this.
PSAK 15 Adjustment 2017: Investment in Associates and Joint Ventures The standard clarifies that upon initial recognition, an entity may choose to measure its investee
at fair value on an investment-per-investment basis.
