PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2014 and for three months period then ended unaudited
Figures in tables are expressed in billions of rupiah, unless otherwise stated
17
1. GENERAL continued d. Subsidiaries continued
c Sigma On January 17, 2013, Sigma signed a shares sale and transfer and loan assignment
agreement with Landeskreditbank Baden-Wuttemberg-Forderbank “L-Bank”, and Step Stuttgarter Engineering Park Gmbh. “STEP” as stockholders of PT German Center
Indonesia “GCI”. Based on the agreement, Sigma agreed to buy all the shares of GCI owned by L-Bank and STEP and take over L-Bank’s stockholders’ loan at a purchase price of
US17.8 million equivalent to Rp170 billion. The closing of this transaction was held on April 30, 2013 Note 3a.
d Infomedia
Based on notarial deed No. 04 dated March 7, 2013 of Sjaaf De Carya Siregar, S.H.,Infomedia’s stockholders agreed to distribute dividend which was returned as the
increment of issued and fully paid capital amounting to Rp44 billion. Based on notarial deed No. 18 dated July 24, 2013 of Zulkifli Harahap, S.H.,
Infomedia’sstockholders approved an increase in its paid-in capital by 88,529,790 shares, amounting to Rp44 billion.
On November 20, 2013, Infomedia had an agreement on business transfer of its Telephone Directory Management business to MD Media.
e Dayamitra On April 5, 2013, based on notarial deed No.002 dated April 5, 2013 of Andi Fatma Hasiah,
S.H.,M.Kn., Dayamitra’s stockholders agreed to distribute dividend which was returned as increment of issued and fully paid capital amounting to Rp31 billion.
f Telkom Infratel On January 16, 2014 the Company established a wholly owned subsidiary under the name
PT Telkom Infrastruktur Telekomunikas Indonesia “Telkom Infratel” which was approved by the MoLHR through its Decision Letter No. AHU-03196.AH.01.01 - Year 2014 Dated on
January 16, 2014, the Company established a wholly owned subsidiary. Telkom Infratel is engaged in providing construction service and trade in the field of telecommunication.
e. Authorization for the issuance of the consolidated financial statements
The consolidated financial statements were prepared and approved to be issued by the Board of Directors on April 25, 2014.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2014 and for three months period then ended unaudited
Figures in tables are expressed in billions of rupiah, unless otherwise stated
18
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Company and subsidiaries have been prepared in accordance with Financial Accounting Standards “Standar Akuntansi Keuangan” or “SAK” including
Indonesian 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 Financial Accounting Standard Board of Indonesian Institute of Accountants and Regulation No. VIII.G.7 of the Capital Market and Financial Institution Supervisory
Agency “Bapepam-LK” regarding the Presentationand Disclosures 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 notesherein. 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.
Changes to the statements of financial accounting standards PSAKs and interpretations of statements of financial accounting standards “Interpretasi Standar Akuntansi
Keuangan” or “ISAKs” On January 1, 2014, the Company and subsidiaries adopted new and revised PSAKs, which were
effective in 2014. Changes to the Company and subsidiaries’ accounting policies have been made as required in accordance with the transitional provisions in the respective standards and
interpretations.
The adoption ofthese newrevised standards and interpretations had no material effect to the consolidated financial statements:
• ISAK 27, “Transfer of Assets from Customers”
• ISAK 28, “Extinguishing Financial Liabilities with Equity Instruments”
Several PSAKs and ISAKs have been issued by the Indonesian Financial Accounting Standards Board DSAK that are considered relevant to the financial reporting of the Company and its
subsidiaries but are effective only for financial statements covering the periods beginning on or after either January 1, 2015.
Effective beginning on or after January 1, 2015
• PSAK 1 2013, “Presentation of Financial Statements”, adopted from International
Accounting Standards IAS 1 •
PSAK 4 2013, “Separate Financial Statements”, adopted from IAS 4 •
PSAK 15 2013, “Investments in Associates and Joint Ventures”, adopted from IAS 28 •
PSAK 24 2013, “Employee Benefits”, adopted from IAS 19 •
PSAK 65, “Consolidated Financial Statements”, adopted from International Financial Reporting Standards IFRS 10
• PSAK 66, “Joint Arrangements”, adopted from IFRS 11
• PSAK 67, “Disclosure of Interest in Other Entities”, adopted from IFRS 12
• PSAK 68, “Fair Value Measurement”, adopted from IFRS 13
The Company is currently evaluating and has not yet determined the effects of these accounting standards and intrepretations on the consolidated financial statements.
