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
37
3. BUSINESS COMBINATIONS continued a. Acquisitions continued
Acquisition of Patrakomcontinued Patrakom is a satellite-based closed fixed telecommunications network operator and as provider
of communications solutions and network with a permit as Operator of Micro Earth StationsCommunications
Systems “SKSBM”
in partnership
with manufacturers
of telecommunications equipment to serve various companies.Through the acquisition of Patrakom,
the Company canintegrate Patrakom’s business activities in accordance with the Company’s business development plan.
The fair values of the assets acquired and liability transferred at the acquisition datesare as follows:
GCI Patrakom
Total Cash and equivalents
3 39
42 Other current assets
18 122
140 Property and equipment Note 11
225 171
396 Current liabilities
15 171
186 Non-current liabilities
16 45
61 Fair value of the identifiable net
assets acquired 215
116 331
Bargain purchase 42
- 42
Fair value of previously held equity interests -
46 46
Fair value of the consideration transferred 173
70 243
The excess of fair value of the identifiable net assetsacquiredover thefair value of the consideration transferred, amounting Rp42 billion, wasrecorded as other income in the
consolidated statement of comprehensive income of the current year. Cost related to the acquisition amountingto Rp4.3 billion was incurred in the current period.
Since the acquisition dates, GCI and Patrakom has generated operating revenue amountingto Rp23billion.
The business combination transactions mentioned above complied to the related Bapepam-LK Regulations.
b. Disposal of Indonusa
On October 8, 2013, the Company sold 80 of its ownership in Indonusa to PT Trans Corpora and PT Trans Media Corpora for Rp926 billion. Further, on the same date, the Company, Metra
and PT Trans Corpora signed a Shareholders Agreement that establishes mutual relationship among the shareholders of Indonusa, including the grant of the right to the Company and Metra to
sell their 20 remaining ownership in Indonusa to PT Trans Corpora at any time in 24 months after the second year ofthe closing transaction at a certain price Put Option.
The Company had received the full payment for the sale transaction.
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
38
3. BUSINESS COMBINATION continued b. Disposal of Indonusa continued
The Company recognized the gain on sale of Indonusa shares in the consolidated statement of comprehensive income of thecurrent year as follows:
Amount
Fair value of considerations received: Cash
926 Put Option
289 Fair value of interest retainedin Indonusa Note 10
182 Carrying amount of assets and liabilities of Indonusa
14 Gain on sale of shares
1,383 4. CASH AND CASH EQUIVALENTS
31 Maret 2014 31 Desember 2013
Cash on hand 30
7 Cash in banks
Related parties Rupiah
PT Bank Mandiri Persero Tbk “Bank Mandiri” 923
804 PT Bank Negara Indonesia Persero Tbk “BNI”
227 409
PT Bank Rakyat Indonesia Persero Tbk “BRI” 68
70 PT Bank Tabungan Negara Persero Tbk “BTN”
50 Others
7 6
1,225 1,339
Foreign currencies Bank Mandiri
748 458
BNI 147
224 BRI
22 75
917 757
Sub-total 2,142
2,096 Third parties
Rupiah Deutsche Bank AG “DB”
129 62
PT Bank Central Asia Tbk “BCA” 62
34 PT Bank CIMB Niaga Tbk “Bank CIMB Niaga”
54 32
Others each below Rp50 billion 77
97 322
225 Foreign currencies
Standard Chartered Bank “SCB” 289
313 Hong Kong and Shanghai Banking Corporation Ltd
“HSBC” 86
66 Others
33 36
408 415
Sub-total 730
640 Total cash in banks
2,872 2,736