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
134
51. FINANCIAL ASSETS AND LIABILITIES continued
1. Financial risk management continued d. Liquidity risks
Liquidity risk arises in situations where the Company and its 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 fullfil the Company and its subsidiaries’ financial liabilities. The Company and its subsidiaries continuously perform an
analysis to monitor statement of financial position ratios, such as among other things, liquidity ratios, debt equity ratios against debt covenant requirements.
2. Fair value of financial assets and liabilities Fair value is the amount for which an asset could be exchanged, or liability settled, in an arms-
length transaction. The table below sets out the carrying amount and fair value of those financial assets and liabilities
not presented on the Company’s consolidated statement of financial positions at their fair values:
September 30, 2011 Carrying value
Fair value
Two step loans 2,830,218
2,946,613 Bonds and notes
3,663,977 3,891,290
Bank loans 10,918,633
11,133,557 The Company and its subsidiaries consider the fair value of current financial assets and liabilities
approximates their carrying amount, as the impact of discounting is not significant. The fair values of long-term liabilities are estimated by discounting the future cash flows of each liability at rates
currently offered to the Company and its subsidiaries for similar debts of comparable maturities by the bankers of the Company and its subsidiaries, except for bonds which are based on market
prices.
52. SUBSEQUENT EVENTS
a. On October 11, 2011, through ICBC, Sinosure approved Telkomsel’s request to cancel the Facility 2 of US100 million Note 22h.
b. In October 2011, GSD fully repaid the loan facility amounted to Rp.19,000 from Bank CIMB Niaga Note 18b.
c. On October 5, 2011, BSM has agreed to extend the loan facility agreement amounted to
Rp.15,000 million to Balebat Note 18d.
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
135
53. RECENT ACCOUNTING PRONOUNCEMENTS IN INDONESIA
The recent accounting pronouncements in Indonesia that are relevant to the Company and its subsidiaries are as follow:
i PSAK 24 Revised 2010, “Employee Benefits”.
In February 2010, the DSAK issued PSAK 24 Revised 2010, “Employee Benefits” which amends PSAK 24 Revised 2004, “Employee Benefits”. The objective of this Standard is to
prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to recognise: a a liability when an employee has provided service in exchange for
employee benefits to be paid in the future; and, b an expense when the entity consumes the economic benefit arising from service provided by an employee in exchange for employee
benefits. PSAK 24 Revised 2010 shall be effective for the reporting period beginning on or after
January 1, 2012. Early application is prohibited. The company and its subsidiaries are currently assessing the impact of the requirement of PSAK 24 Revised 2010, “Employee
Benefits” on the consolidated financial statements. ii
PSAK 46 Revised 2010, “Income Tax”. In August 2010, the DSAK issued PSAK 46 Revised 2010, “Income Tax” which amends
PSAK 46 Revised 1994, “Accounting for Income Tax”. The objective of this Standard is to prescribe the accounting treatment for income taxes. The principal issue in accounting for
income taxes is how to account for the current and future tax consequences of: a the future recovery settlement of the carrying amount of assets liabilities that are recognised in an
entitys statement of financial position; and b transactions and other events of the current period that are recognised in an entitys financial statements. PSAK 46 Revised 2010 shall
be effective for the reporting period beginning on or after
January 1, 2012. Early application is encouraged. However, for entities that do business combination in accordance with the
requirements of PSAK 22 revised 2010, “Business Combination” is required to make early application. The company and its subsidiaries are currently assessing the impact of the
requirement of PSAK 46 Revised 2010, “Income Tax” on the consolidated financial statements.
iii PSAK 50 Revised 2010, “Financial Instruments: Presentation”.
In May 2010, the DSAK issued PSAK 50 Revised 2010, “Financial Instruments: Presentation” which amends PSAK 50 Revised 2006, “Financial Instruments: Presentation
and Disclosures”. The objective of this Standard is to establish principles for presenting financial instruments as liabilities or equity and for offsetting financial assets and financial
liabilities. It applies to the classification of financial instruments, from the perspective of the issuer, into financial assets, financial liabilities and equity instruments; the classification of
related interest, dividends, losses and gains; and the circumstances in which financial assets and financial liabilities should be offset. PSAK 50 Revised 2010 shall be effective for the
reporting period beginning on or after
January 1, 2012 and prospectively applied. Early application is encouraged. The company and its subsidiaries are currently assessing the
impact of the requirement of PSAK 50 Revised 2010, “Financial Instruments: Presentation” on the consolidated financial statements.
