PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued JUNE 30, 2005 AND 2006, AND FOR THE SIX MONTHS PERIOD ENDED
JUNE 30, 2005 AND 2006 Figures in tables are presented in millions of Rupiah, unless otherwise stated
- 68
24. BANK LOANS
continued
e. Bank Mandiri
continued On December 20, 2003, Dayamitra also obtained a credit facility from Bank Mandiri for a
maximum facility of Rp40,000 million. The facility is repayable on a quarterly basis beginning from the end of the third quarter of 2004 until end of the fourth quarter of 2006 and bears interest
at 14 per annum which is subject to change to reflect change in market rate 11.25 and 14 as of June 30, 2005 and 2006, respectively. The loan is obtained to finance the construction of
Fixed Wireless CDMA project pursuant to the procurement agreement entered between Dayamitra and Samsung Electronic Co. Ltd. As of June 30, 2005 and 2006, principal outstanding
under this facility was Rp35,253 million and Rp3,328 million, respectively.
The above loans are collateralized by Dayamitra’s telecommunications equipmentnetwork with CDMA technology financed by these facilities, and Dayamitra’s share in the DKSOR of KSO VI.
In addition, Dayamitra is required to maintain a minimum balance of Rp6,000 million in an escrow account established to facilitate loan repayments Note 16b.
On March 13, 2003, Balebat entered into a loan agreement with Bank Mandiri for a facility of Rp2,500 million. This facility is secured by Balebat’s operating equipment and will mature in
July 2006. As of June 30, 2005 and 2006, interest rate charged on the loan was 19 and 17, respectively, and is payable on a monthly basis. The principal is repayable on a monthly basis. As
of June 30, 2005 and 2006, principal outstanding under this facility amounted to Rp1,052 million and 88 million, respectively.
On March 20, 2006, Telkomsel signed a loan agreement with Bank Mandiri in the facility amount of Rp600,000 million. The loan is payable to Bank Mandiri in five 5 equal semi-annual
installments from the date which is six 6 months after the end of availability period the period commencing March 20, 2006 to the earlier of the date falling 12 months or the date on which the
facility is fully drawn. The loan bears floating interest rate of three months Certificate of Bank Indonesia + 1.75. The Principal outstanding as of June 30, 2006 amounted to Rp300,000
million.
f. Bank Niaga
On July 18 and December 3, 2003, Balebat entered into loan agreements with Bank Niaga for facilities totaling Rp565 million. The facilities bear interest at 15 per annum and are secured by
Balebat’s time deposits and vehicles. The principal and interest are payable on a monthly basis which will end in October 2005 and December 2005, respectively. As of June 30, 2005 principal
outstanding amounted to Rp108 million. On December 27, 2005, the loan was fully repaid.
On December 28, 2004, Balebat entered into a loan agreement with Bank Niaga providing a total facility of Rp7,200 million comprising of Rp5,000 million to finance construction of plant
“Investment Facility” which bears interest at 13.5 per annum and Rp2,200 million to finance purchase of machinery “Specific Transaction Facility” which bears interest at 12 per annum.
The interest rate was subsequently increased to 17 per annum on December 1, 2005. The Investment Facility is repayable in 36 monthly installments commencing from March 31, 2005.
The Specific Transaction Facility is repayable in 60 monthly installments commencing from June 29, 2005. These facilities are secured by Balebat’s property, plant and equipment with a value of
Rp8,450 million. As of June 30, 2006, principal outstanding under these facilities amounted to Rp2,811 million and Rp1,833 million, respectively.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued JUNE 30, 2005 AND 2006, AND FOR THE SIX MONTHS PERIOD ENDED
JUNE 30, 2005 AND 2006 Figures in tables are presented in millions of Rupiah, unless otherwise stated
- 69
24. BANK LOANS
