PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
37
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued aa. Critical Accounting Estimates and Judgements continued
v. Impairment of non-financial assets
The Company and subsidiaries annually assess whether goodwill is impaired. Other non- financial assets are reviewed for impairment whenever events or changes in circumstances
indicate that the carrying amount of the asset exceeds its recoverable amount. The recoverable amount of an asset or a cash generating unit “CGU” is determined based on
the higher of its fair value less costs to sell and its value in use, calculated on the basis of management’s assumptions and estimates.
In determining value in use, the Company and subsidiaries apply management judgement in establishing forecasts of future operating performance, as well as the selection of growth
rates and discount rates. These judgements are applied based on our understanding of historical information and expectations of future performance. Changing the key assumptions,
including the discount rates or the growth rate assumptions in the cash flow projections, could materially affect the value in use calculations.
For the year ended December 31, 2012 the Company recognized Rp247 billion of impairment loss on property and equipment in pertaining to the fixed wireless services. A 1 increase in
the discount rate used would result in an increase in impairment loss of approximately Rp458 billion. However, the recoverable amount of the fixed wireless CGU is most sensitive to
whether management will be able to implement its plans, including the cost efficiency plan, such that it generates positive cash flows and returns to profitability as projected. If the
performance of the fixed wireless CGU continues to decline or if management’s initiatives are not performing as expected in the next financial year, analysis will be required to assess
whether there will be further impairment next year Note 11b.
3. PATRAKOM ACQUISITON
On September 25, 2013, the Company entered into Sales Purchase Agreement SPA with PT ELNUSA Tbk for the 40 PT Patra Telekomunikasi Indonesia “Patrakom” ownership with
acquisition cost amounting to Rp45.6 billion. This SPA results in the Company’s ownership in Patrakom increased, from 40 to 80. The acquisition of patrakom has been accounted for using
the purchase method of accounting, where the purchase price was allocated to the fair value of the acquired assets and assumed liabilities.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
38
4. CASH AND CASH EQUIVALENTS September 30, December 31,
2013 2012
Cash on hand 28
7 Cash in banks
Related parties Rupiah
PT Bank Mandiri Persero Tbk “Bank Mandiri” 733
913 PT Bank Negara Indonesia Persero Tbk “BNI”
339 284
PT Bank Rakyat Indonesia Persero Tbk “BRI” 125
87 Others
22 14
1,219 1,298
Foreign currencies BRI
878 -
Bank Mandiri 648
222 BNI
111 20
Others -
2 1,637
244 Sub total
2,856 1,542
Third parties Rupiah
Deutsche Bank AG “DB” 46
62 PT Bank CIMB Niaga Tbk ”Bank CIMB Niaga”
68 59
Others each below Rp50 billion 116
103 230
224 Foreign currencies
PT Standard Chartered Bank “SCB” 195
112 Others each below Rp50 billion
81 65
276 177
Sub total 506
401 Total cash in banks
3,362 1,943
Time deposits Related parties
Rupiah BNI
4,148 1,511
BRI 3,555
2,883 Bank Mandiri
1,308 312
PT Bank Tabungan Negara Persero Tbk “BTN” 343
401 Others each below Rp30 billion
28 43
9,382 5,150
Foreign currencies BRI
1,739 1,966
BNI 581
112 Bank Mandiri
7 222
2,327 2,300
Sub total 11,709
7,450