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
- 42
11. LONG-TERM INVESTMENTS
continued
e. PT Batam Bintan Telekomunikasi “BBT”
BBT is engaged in providing fixed line telecommunication services at Batamindo Industrial Park in Muka Kuning, Batam Island and at Bintan Beach International Resort and Bintan Industrial Estate
in Bintan Island.
f. PT Pembangunan Telekomunikasi Indonesia “Bangtelindo”
Bangtelindo is primarily engaged in providing consultancy services on the installation and maintenance of telecommunications facilities.
g. PT Mandara Selular Indonesia “Mobisel”
Mobisel is engaged in providing mobile cellular services and related facilities. These services were previously provided by the Company under a revenue-sharing arrangement with PT Rajasa Hazanah
Perkasa “RHP”. The capital contribution made by the Company of Rp10,398 million represented a 25 equity ownership in Mobisel.
As of December 31, 2002, the value of investment has been reduced to zero because the Company’s share of loss exceeded the carrying amount of investment in Mobisel.
In July 2003 and January 2004, Mobisel carried out a series of debt to equity conversions resulting in dilution of the Company’s ownership interest to 6.4.
On December 20, 2004, Mobisel’s stockholders agreed to issue 306,000,000 new Series B shares to a new stockholder and an existing stockholder. The issuance of 306,000,000 new Series B shares
resulted in dilution of the Company’s interest in Mobisel to 3.63.
On May 27, 2005, the Company’s ownership interest was further diluted to 1.33 following the issuance of 1,179,418,253 new Series B shares by Mobisel.
On January 13, 2006, the Company sold its entire ownership interest in Mobisel to Twinwood Ventures Limited third party for Rp22,561 million. The resulting gain on the sale was not
significant to the consolidated statement of income.
On August 8, 2003, the Company and PT Centralindo Pancasakti Cellular “CPSC” signed a share- swap agreement “KMT-IP share-swap transaction” in which the Company delivered its 14.20
outstanding shares in PT Komunikasi Selular Indonesia “Komselindo”, its 20.17 outstanding shares in PT Metro Selular Nusantara “Metrosel”, and its 100 outstanding shares in PT Telekomindo
Selular Raya “Telesera” to CPSC. In return, CPSC delivered its 30.58 outstanding shares in PT Indonusa Telemedia “Indonusa”, 21.12 outstanding shares in PT Pasifik Satelit Nusantara “PSN”
and paid cash of Rp5,398 million to the Company. From the KMT–IP share-swap transaction, the Company recognized a loss of Rp47,307 million being
the difference between the fair value of assets received and the carrying amount of the Company’s investments given to CPSC, and reversal of difference due to change of equity in Metrosel previously
recognized directly in equity.
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
- 43
12. PROPERTY, PLANT AND EQUIPMENT
