PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued SEPTEMBER 30, 2005 AND 2006, AND FOR THE NINE MONTHS PERIOD ENDED
SEPTEMBER 30, 2005 AND 2006 Figures in tables are presented in millions of Rupiah, unless otherwise stated
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11. LONG-TERM INVESTMENTS
continued
b. PT Patra Telekomunikasi Indonesia “Patrakom”
Patrakom is engaged in providing satellite communication system services, related services and facilities to companies in the petroleum industry.
On August 26, 2005, the Company purchased 10 of Patrakom’s outstanding shares from Indosat for Rp4,250 million, thereby increasing the Company’s ownership interest from 30 to 40.
As of September 30, 2005 and 2006, the carrying amount of investment in Patrakom was approximate to the underlying equity in net assets of Patrakom.
c. PT Pasifik Satelit Nusantara “PSN”
PSN is engaged in providing satellite transponder leasing and satellite-based communication services in the Asia Pacific region.
As of December 31, 2001, the Company’s share of losses in PSN has exceeded the carrying amount of the investment. Accordingly, the investment has been reduced to zero.
On August 8, 2003, as a result of share-swap transaction with CPSC, the Company’s interest in PSN effectively increased to 43.69. The Company decided to increase its ownership interest in
PSN as part of the share-swap transactions that was premised on the Company’s assessment that PSN’s satellite services will allow it to capitalize on a government program which calls for the
provision of telecommunication services to remote areas of Indonesia.
In 2005, the Company’s ownership interest was diluted to 35.5 as a result of debt to equity conversions consummated by PSN.
On January 20, 2006, PSN’s stockholders agreed to issue new shares to a new stockholder. The issuance of new shares resulted in dilution of the Company’s interest in PSN to 22.38
d. Bridge Mobile Pte. Ltd
On November 3, 2004, Telkomsel together with six other international mobile operators in Asia Pacific established Bridge Mobile Pte. Ltd. Singapore, a company that is engaged in providing
regional mobile services in the Asia Pacific region.
Telkomsel contributed US1.0 million Rp9,290 million which represents a 14.286 ownership interest.
On April 14, 2005, Telkomsel’s ownership interest was diluted to 12.50 following issuance of new shares by Bridge Mobile Pte. Ltd to a new stockholder.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued SEPTEMBER 30, 2005 AND 2006, AND FOR THE NINE MONTHS PERIOD ENDED
SEPTEMBER 30, 2005 AND 2006 Figures in tables are presented in millions of Rupiah, unless otherwise stated
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11. LONG-TERM INVESTMENTS
