PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2016 and For the Six Months Period Then Ended unaudited
Figures in tables are expressed in billions of rupiah, unless otherwise stated
41
8. LONG-TERM INVESTMENTS continued
Summarized financial information of the Group’s investments accounted
under the equity method for 2016:
Telin Tiphone Indonusa
Teltranet Melon
ILCS Malaysia
CSM
Statements of financial position Current assets
6,230 243
76 166
104 2
185 Non-current assets
753 460
81 22
21 17
1,221 Current liabilities
1,007 747
54 72
49 27
731 Non-current liabilities
3,052 293
- 1
1 -
1.535
Equity deficit 2,924
337 103
115 75
8 860
Statements of profit or loss and other comprehensive income
Revenues 6,271
292 17
145 30
3 164
Operating expenses 6,072
334 66
131 36
22 364
Other income expenses including finance costs - net
50 1
3 2
1 -
74 Profit loss before tax
149 41
52 16
7 19
274 Income tax expense
38 -
13 -
- -
-
Profit loss for the year 111
41 39
16 7
19 274
Other comprehensive income loss
4 -
- -
- -
-
Total comprehensive income for the year
107 41
39 16
7 19
274
Using financial information as of March 31, 2016 and for the period then ended. Using financial information as of December 31, 2015 and for the year then ended.
December 31, 2015
Share of Share of other
net loss comprehensive
Percentage profit of
income of of
Beginning Additions associated associated
Ending ownership balance Deductions
company Dividend
company balance
Long-term investments
in associated companies:
Tiphone
a
24.65 1,392
- 32
18 2
1,404 Indonusab
20.00 221
- -
- -
221 Teltranetc
51.00 52
43 24
- -
71 Melon d
51.00 43
- 7
- -
50 ILCS e
49.00 38
- 2
- -
40 Telin Malaysiaf
49.00 6
19 19
- 6
CSMg 25.00
- -
- -
- -
Sub-total 1,752
62 2
18 2
1,792 Other long-term investments
15 -
- -
- 15
Total long-term investments 1,767
62 2
18 2
1,807
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2016 and For the Six Months Period Then Ended unaudited
Figures in tables are expressed in billions of rupiah, unless otherwise stated
42
8. LONG-TERM INVESTMENTS continued
Summarized financial information of the Group’s investments accounted
under the equity method for 2015:
Telin Tiphone Indonusa
Teltranet Melon
ILCS Malaysia
CSM
Statements of financial position Current assets
6,364 186
117 131
105 18
185 Non-current assets
765 471
58 27
32 10
1,221 Current liabilities
1,257 850
35 57
54 17
731 Non-current liabilities
3,056 103
1 2
1 -
1,535
Equity deficit 2,816
296 139
99 82
11 860
Statements of profit or loss and other comprehensive income
Revenues 22,040
599 -
89 41
3 164
Operating expenses 21,290
608 21
82 43
17 364
Other income expenses including finance costs - net
249 37
6 2
- 74
Profit loss before tax 501
46 15
9 2
14 274
Income tax expense 130
19 -
- -
- -
Profit loss for the year 371
65 15
9 2
14 274
Using financial information as of December 31, 2015 and for the year then ended.
a
Tiphone was established on June 25, 2008 as PT Tiphone Mobile Indonesia Tbk. Tiphone is engaged in the telecommunication equipment business, such as for celullar phone including spare parts, accessories, pulse reload vouchers,
repair service and content provider through its subsidiaries. On September 18, 2014, the Company through PINS acquired 25 ownership in Tiphone for Rp1,395 billion.
As of June 30, 2016 and December 31, 2015, the fair value of investment amounting to R1,184 billion and Rp1,351 billion, respectively. The fair value was calculated by multiplying number of shares by the published price quotation as of June 30,
2016 and December 31, 2015 amounting to Rp675 and Rp770 per share, respectively. Reconciliation of financial information to the carrying amount of long-term investment in Tiphone as of
December 31, 2015 is as follows:
December, 31 2015
Assets 7,129
Liabilities 4,313
Net assets 2,816
Group’s proportionate share of net assets 24.65 in 2015
694 Goodwill
710 Carrying amount of long-term investment
1,404
b
Indonusa had been a subsidiary of the Company until 2013 when the Company disposed 80 of its interest in Indonusa. On May 14, 2014, based on the Circular Resolution of the Stockholders of Indonusa as covered by notarial deed No. 57
dated April 23, 2014 of FX Budi Santoso Isbandi, S.H., which was approved by the MoLHR in its Letter No. AHU-
02078.40.20.2014 dated April 29, 2014, Indonusa’s stockholders approved an increase in its issued and fully paid
capital by Rp80 billion. The Company has waived its right to own the new shares issued and transferred it to Metra and, as a result,
Metra’s ownership in Indonusa increased to 4.33.
c
Investment in Teltranet is accounted for under the equity method, which covered on an agreement between Metra and Telstra Holding Singapore Pte. Ltd. on August 29, 2014. Teltranet is engaged in communication system services. Metra does not
have control as it does not determine the financial and operating policies of Teltranet.
d
Melon is engaged in providing Digital Content Exchange Hub services “DCEH”. Metra does not have control over Melon due
to the existence of substantive participating rights held by the other venturer over the financial and operating policies of Melon.
e
ILCS is engaged in providing E-trade logistic services and other related services.
f
Telin Malaysia is engaged in telecommunication services in Malaysia.
g
CSM is engaged in providing Very Small Aperture Terminal “VSAT”, network application services and consulting services on telecommunications technology and related facilities. The unrecognized share of losses of CSM for the year ended December
31, 2015 amounting to Rp215 billion.
