PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
14
1. GENERAL continued d. Subsidiaries continued
c TII On May 19, 2015, Pachub Acquisition Co. was incorporated, with Telekomunikasi Indonesia
International USA obtaining 100 direct ownership. On May 29, 2015, Telkom USA and Pachub Acquisition Co entered into an agreement and
plan of merger with AP Teleguam Holdings, Inc. On May 30, 2016, the agreement related to the merger was terminated.
d Jalin On November 3, 2016, the Company established a wholly-owned subsidiary under the name
PT Jalin Pembayaran Nusantara “Jalin” which was approved by the MoLHR through its Decision Letter No. AHU-0050800.AH.01.01 dated November 15, 2016. Jalin is engaged in
organizing ICT Information, Communication Telecommunication business focuses on non cash payment to support national payment gateway.
e Metranet On November 10, 2016, Metranet increased its share capital from Rp244 billion to Rp325 billion
by issuing 18,800,000 new shares which were wholly-owned by the Company. Based on notarial deed of Utiek Rochmuljati Abdurachman, S.H., M.LI, M.Kn., No. 08 and 09
dated November 14, 2016, Metranet purchased 4,900,000 shares of Melon equivalent to 49 ownership from SK Planet Co. and 300,000 shares of Melon equivalent to 3 ownership
from Metra amounting to US13,000,000 or Rp170.4 billion and Rp13.2 billion, respectively. As a result of this transaction, Metranet acquired 52 ownership in Melon and the remaining
shares are held by Metra.
e. Authorization for the issuance of the consolidated financial statements
The consolidated financial statements were prepared and approved for issuance by the Board of Directors on March 2, 2017.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
15
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Company and subsidiaries co llectively referred to as “the
G roup” have been prepared in accordance with Financial Accounting Standards Standar Akuntansi
Keuangan” or “SAK including Indonesian Statement of Financial Accounting Standards Pernyataan Standar Akuntansi Keuangan
or “PSAK” and interpretation of Financial Accounting Standards Interpretasi Standar Akuntansi Keuangan
or “ISAK” in Indonesia published by the Financial Accounting Standards Board of Indonesian Institute of Accountant and Regulation No. VIII.G.7 of the
Capital Market and Financial Institution Supervisory Agency “Bapepam-LK” regarding the Presentation and Disclosure of Financial Statements of Issuers or Public Companies, enclosed in the
decision letter KEP-347BL2012.
a. Basis of preparation of financial statements
The consolidated financial statements, except for the consolidated statements of cash flows, are prepared on the accrual basis. The measurement basis used is historical cost, except for certain
accounts which are measured using the basis mentioned in the relevant notes herein. The consolidated statements of cash flows are prepared using the direct method and present the
changes in cash and cash equivalents from operating, investing and financing activities. Figures in the consolidated financial statements are presented and rounded to billions of
Indonesian rupiah “Rp”, unless otherwise stated. Accounting Standards Issued but not yet Effective
Effective January 1, 2017: Amendments to PSAK 1: Presentation of Financial Statements on Disclosure Initiative.
The amendments provide clarification on the application of the requirements of materiality, the flexibility of systematic order of the notes to the financial statements and the identification of
significant accounting policies.
PSAK 3 Adjustment 2016: Interim Financial Reporting. The PSAK provides clarification that the interim financial report is incomplete if the interim
financial statements and any disclosure incorporated by cross-reference are not made available to users of the interim financial statements on the same terms and at the same time.
If the users of the interim financial statements can not access information in cross-reference with the requirement and the same time, the interim financial statements are considered
incomplete.
PSAK 24 Adjustment 2016: Employee Benefits. The PSAK provides clarification that high-quality corporate bonds should be assessed at the
currency level and not at the country level. PSAK 58 Adjustment 2016: Non-current Assets Held for Sale and Discontinued Operations.
The PSAK provides clarification that changes in the method of disposal of an asset or disposal group are considered a continuation of the original plan of disposal. It also clarify that the
changes in the method of disposal does not change the date of classification as asset or disposal group.
PSAK 60 Adjustment 2016: Financial Instruments: Disclosures. The PSAK provides clarification that the entity must assess the nature of servicing
arrangements as provided in paragraph PP30 and paragraphs 42C to determine whether the entity has a continuing involvement in financial assets and whether the disclosure requirements
related to continuing involvement are met.
