PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
61
16. ACCRUED EXPENSES December 31, September 30,
2010 2011
Operations, maintenance and telecommunications services 1,773,794
2,422,450
Salaries and benefits 894,733
749,605 General, administrative and marketing
514,367 743,493
Early retirement program -
628,947 Interest and bank charges
226,366 193,120
Total 3,409,260
4,737,615
Accruals for early retirement program 2011 arose from the Decision of HCGA Director No. SK.42PS940COP-B00000002011 on determination of 2011 budget year early retirement
participant dated September 23, 2011. The Company accrued on the basis of the number of eligible employees by grade and who were expected to enroll. Accrued early retirement benefits
as of September 30, 2011, amounted to Rp.628,947 million charged to the consolidated statements of comprehensive income for the nine months period ended September 30, 2011 Note 34.
Refer to Note 44 for details of related party transactions.
17. UNEARNED INCOME December 31, September 30,
2010 2011
Prepaid pulse reload vouchers 2,419,099
2,410,631 Other telecommunications services
131,220 138,644
Others 131,164
121,325
Total 2,681,483
2,670,600
18. SHORT-TERM BANK LOANS
December 31, 2010 September 30, 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency
in millions equivalent
in millions equivalent
Bank CIMB Niaga Rp.
- 35,359
- 62,980
Bank Danamon Rp.
- -
- 40,000
Bank Ekonomi Rp.
- 16,472
- 17,163
PT Bank Syariah Mandiri “BSM”
Rp. -
4,000 -
7,000
Total 55,831
127,143
Refer to Note 44 for details of related party transactions.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
62
18. SHORT-TERM BANK LOANS continued
Total facility
Interest Interest
in Payment
payment rate
Borrower Currency millions schedule period
per annum Security
Bank CIMB Niaga April 25, 2005
a
Balebat Rp.
12,000 May 29,
Monthly 11.50
Property, plant and 2012
equipment Note 11, inventories
Note 7, and trade receivables Note 6
April 29, 2008
a
Balebat Rp.
5,000 May 29,
Monthly 11.50
Property, plant and 2012
equipment Note 11, inventories
Note 7, and trade receivables Note 6
April 29, 2008
a
Balebat Rp.
500 May 29,
Monthly 11.50
Property, plant and 2012
equipment Note 11, inventories
Note 7, and trade receivables Note 6
October 18, 2005
b
GSD Rp.
19,000 October 18, Monthly
10.25 Property, plant and
2011 equipment Note 11
May 14, 2010 Infomedia
Rp. 28,000
May 14, Monthly
11.00 Trade receivables
2012 Note 6
Bank Danamon June 20, 2011
Infomedia Rp.
5,000 June 20,
Monthly 11.00
Trade receivables 2012
Note 6 Bank Ekonomi
February 11, 2009
c
Sigma US
0.55 June 13,
Monthly 6.00
Trade receivables 2011
Note 6 August 7, 2009
c
Sigma Rp.
35,000 July 1, 2011 Monthly
10.00 Trade receivables
Note 6 property, plant and equipment
Note 11 January 2, 2011
c
Sigma US
1.00 July 1, 2011 Monthly
6.00 Property, plant and
equipment Note 11 February 23, 2011
c
Sigma Rp.
100,000 August 23, Monthly
10.50 Trade receivables
2011 Note 6, property,
plant and equipment Note 11
PT Bank Syariah Mandiri “BSM”
September 1, 2010
d
Balebat Rp.
15,000 October 16, Monthly
14.00 Property, plant and
2011 equipment
Note 11, inventories Note 7, trade
receivables Note 6
The credit facilities obtained by the Company’s subsidiaries are used for working capital purpose.
a
Based on the latest amendment on May 25, 2011.
b
On October 2011, the loan was fully repaid Note 52b.
c
Pursuant to expiry of availability period, Sigma has requested Bank Ekonomi to extend the facility period. As of the issuance date of the consolidated financial statements, for the amandment is still
in process.
d
On August 31, 2011, the loan was fully repaid and subsequently the facility has been extended Note 52c.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND
NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
63
19. MATURITIES OF LONG-TERM LIABILITIES a. Current maturities
December 31, September 30, Notes
2010 2011
Bank loans 22
4,478,247 3,396,958
Two-step loans 20
395,363 395,143
Obligations under finance leases 11
198,062 189,679
Bonds and notes 21
126,719 290,008
Deferred consideration for business combinations 23
105,245 -
Total 5,303,636
4,271,788 b. Long-term portion
In billions of Rupiah Notes Total
2012 2013
2014 2015 Later
Bank loans 22
7,521.7 232.0 3,574.7 2,374.7
950.5 389.8
Bonds and notes 21
3,374.0 123.7
207.1 43.2 1,005.0 1,995.0
Two-step loans 20
2,435.0 74.7
321.4 323.9
326.6 1,388.4 Obligations under finance leases 11
330.8 135.9
111.5 30.9
16.7 35.8
Total 13,661.5
566.3 4,214.7 2,772.7 2,298.8 3,809.0 20. TWO-STEP LOANS
Two-step loans are unsecured loans obtained by the Government, which are then re-loaned to the Company. The loans entered into up to July 1994 were recorded and payable in Rupiah based on the
exchange rate at the date of drawdown. Loans entered into after July 1994 are payable in their original currencies and any resulting foreign exchange gain or loss is borne by the Company.
December 31, 2010 September 30, 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency
in millions equivalent
in millions equivalent
Overseas bank Yen
10,750.57 1,191,378
10,366.62 1,187,392
US 120.76
1,088,639 101.87
896,500 Rp.
- 856,649
- 746,326
Total 3,136,666
2,830,218 Current maturities Note 19a
395,363 395,143
Long-term portion Note 19b 2,741,303
2,435,075