SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR

  PT XL AXIATA Tbk LAPORAN KEUANGAN INTERIM/

  INTERIM FINANCIAL STATEMENTS

  

30 JUNI/ JUNE 2018, 31 DESEMBER/ DECEMBER 2017

DAN/ AND 2016 DAN/ AND UNTUK PERIODE ENAM BULAN YANG BERAKHIR/ FOR THE SIX-MONTH PERIODS ENDED 30 JUNI/ JUNE 2018 DAN/ AND 2017 SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR/ AND FOR THE YEARS ENDED

  31 DESEMBER/ DECEMBER 2017 DAN/ AND 2016

LAPORAN POSISI

  INTERIM STATEMENTS KEUANGAN INTERIM

OF FINANCIAL POSITION AS AT

30 JUNI 2018, 31 DESEMBER 2017 DAN 2016

  30 JUNE 2018, 31 DECEMBER 2017 AND 2016

  (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, kecuali nilai nominal per saham)

  except par value per share) Catatan/

  

Notes 30/06/2018 31/12/2017 31/12/2016

Aset lancar

  Current assets

Kas dan setara kas 3,28b 2,093,546 2,455,343 1,399,910 Cash and cash equivalents

Piutang usaha - setelah

  Trade receivables - net dikurangi cadangan kerugian of provision for penurunan nilai piutang receivables impairment

• Pihak ketiga 4 632,628 530,808 613,543 Third parties -

• - Pihak berelasi 28c 44,555 34,138 22,984 Related parties -

  Piutang lain-lain

  Other receivables

• - Pihak ketiga 23,151 24,118 25,039 Third parties -

• - Pihak berelasi 28d 15,240 42,744 1,145 Related parties -

  Persediaan 157,501 143,303 161,078 Inventories

  Pajak dibayar dimuka 27a

  Prepaid taxes

• - Pajak penghasilan badan 165,804 148,706 377,563 Corporate income tax -

• 17,787 - - Pajak lainnya

  Other tax -

Beban dibayar dimuka 5,28e 2,790,530 3,462,659 4,021,117 Prepayments

26 674,348 176,945 Derivative receivables

• Piutang derivatif Aset lain-lain

  6 136,710 161,978 184,484 Other assets

Jumlah aset lancar 6,751,800 7,180,742 6,806,863 Total current assets

Aset tidak lancar

  Non-current assets Aset tetap - setelah dikurangi

  Fixed assets - net of akumulasi penyusutan 7 36,015,153 34,933,877 33,182,920 accumulated depreciation Aset takberwujud

  8 5,840,803 5,914,659 6,108,241 Intangible assets

  9 - Investasi pada ventura bersama - 168,791 Investment in joint venture Beban dibayar dimuka 5 837,453 878,932 1,085,901 Prepayments Piutang derivatif

  26 454,478 508,811 Derivative receivables - Goodwill 37 6,681,357 6,681,357 6,681,357 Goodwill Aset lain-lain 6 251,084 277,396 353,402 Other assets

Jumlah aset tidak lancar 49,625,850 49,140,699 48,089,423 Total non-current assets

Jumlah aset 56,377,650 56,321,441 54,896,286 Total assets

LAPORAN POSISI

  INTERIM STATEMENTS KEUANGAN INTERIM

OF FINANCIAL POSITION AS AT

30 JUNI 2018, 31 DESEMBER 2017 DAN 2016

  30 JUNE 2018, 31 DECEMBER 2017 AND 2016

  (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, kecuali nilai nominal per saham)

  except par value per share) Catatan/

  

Notes 30/06/2018 31/12/2017 31/12/2016

Liabilitas jangka pendek

  Current liabilities Utang usaha dan utang lain-lain

  Trade and other payables

• Pihak ketiga 10 8,119,378 7,447,750 6,470,327 Third parties -

• - Pihak berelasi 10,28f 60,514 28,111 32,488 Related parties -

  Utang pajak

  Taxes payable

• - Pajak lainnya 27b 44,392 212,136 171,254 Other taxes -

  Beban yang masih harus dibayar

  11 775,106 714,242 893,459 Accrued expenses Pendapatan tangguhan 12 1,545,738 1,132,183 1,209,560 Deferred revenue Liabilitas imbalan kerja

  Short-term employee

jangka pendek 309,437 385,324 198,264 benefit liabilities

Provisi

  16 971,601 1,100,032 1,529,105 Provisions Bagian lancar dari Current portion of pinjaman jangka panjang 13 4,761,273 2,474,424 3,645,122 long-term loans Liabilitas sewa

  14 641,844 435,456 327,459 Lease liabilities Bagian lancar dari Current portion of sukuk ijarah 15 257,794 1,296,858 - sukuk ijarah Jumlah liabilitas

jangka pendek 17,487,077 15,226,516 14,477,038 Total current liabilities

  Liabilitas jangka panjang Non-current liabilities

  Pinjaman jangka panjang 13 6,393,700 9,096,617 10,024,059 Long-term loans Liabilitas sewa 14 5,080,881 4,211,026 3,368,344 Lease liabilities Sukuk ijarah 15 1,883,817 1,883,223 1,001,586 Sukuk ijarah Pendapatan tangguhan 12 2,530,417 2,741,855 3,164,729 Deferred revenue

Liabilitas pajak tangguhan 27d 734,622 809,961 954,567 Deferred tax liabilities

  Liabilitas imbalan kerja Long-term employee jangka panjang 16 235,118 243,718 251,889 benefit liabilities

Provisi 16a 485,931 477,675 444,929 Provisions

  Jumlah liabilitas

jangka panjang 17,344,486 19,464,075 19,210,103 Total non-current liabilities

Ekuitas

  Equity Modal saham - modal dasar

  Share capital - authorised 22.650.000.000 saham capital 22,650,000,000 biasa, modal ditempatkan ordinary shares, issued and dan disetor penuh fully paid capital

  10.687.960.423 saham biasa, 10,687,960,423 ordinary dengan nilai nominal shares, with par value

  Rp 100 per saham 17 1,068,796 1,068,796 1,068,796 Rp 100 per share Tambahan modal disetor 18 12,159,662 12,157,010 12,138,748 Additional paid-in capital Saldo laba

  Retained earnings

• Telah ditentukan penggunaannya

  19 900 800 700 Appropriated -

• Belum ditentukan penggunaannya 8,316,729 8,404,244 8,000,901 Unappropriated -

  Jumlah ekuitas 21,546,087 21,630,850 21,209,145 Total equity

  

Jumlah liabilitas dan ekuitas 56,377,650 56,321,441 54,896,286 Total liabilities and equity

LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN INTERIM UNTUK PERIODE ENAM BULAN YANG BERAKHIR 30 JUNI 2018 DAN 2017 DAN TAHUN-TAHUN YANG BERAKHIR

FOR THE SIX-MONTH PERIODS ENDED

  (Dinyatakan dalam jutaan Rupiah, kecuali (rugi)/ laba bersih per saham dasar)

  INTERIM STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

  30 JUNE 2018 AND 2017 AND FOR THE YEARS ENDED

31 DESEMBER 2017 DAN 2016

  31 DECEMBER 2017 AND 2016 (Expressed in millions of Rupiah, except basic (loss)/ earnings per share)

  2018 2017 2017 2016 Catatan/ (6 bulan/ (6 bulan/ (12 bulan/ (12 bulan/ Notes months) months) months) months)

  

Pendapatan 21,28g 11,046,042 10,933,553 22,875,662 21,341,425 Revenue

Beban Expenses

  

Beban infrastruktur 22a (4,067,644) (4,227,873) (8,576,361) (8,269,268) Infrastructure expenses

Beban penyusutan 7 (3,628,301) (3,284,333) (6,757,453) (7,827,973) Depreciation expenses Beban interkoneksi dan

  Interconnection and

beban langsung lainnya 23,28h (1,098,405) (1,289,408) (2,459,401) (1,926,396) other direct expenses

Beban gaji dan kesejahteraan

  Salaries and employee benefits

karyawan 24,28l (526,961) (518,242) (1,351,466) (1,156,450) expenses

Beban penjualan dan pemasaran 22b (1,146,801) (693,330) (1,615,500) (1,432,730) Sales and marketing expenses

  General and administrative

Beban umum dan administrasi 22c, 28i (220,214) (283,633) (551,691) (498,320) expenses

Beban amortisasi

  8 (73,856) (96,792) (193,582) (218,067) Amortisation expenses (Kerugian)/ keuntungan selisih kurs

• - bersih (553) 2,557 9,284 64,937 Foreign exchange (losses)/ gains - net

  Keuntungan dari penjualan dan sewa-balik menara

  Bagian atas rugi bersih ventura bersama 9 - (94,115) (102,907) (254,704) Share of loss from joint venture (771,075) (748,037) (1,437,023) (1,501,293)

  Manfaat pajak

penghasilan 27c 73,448 117,449 154,006 189,935 Income tax benefit

(Rugi)/ laba periode/ tahun berjalan (81,741) 143,115 375,244 375,516 (Loss)/ profit for the period/ year

(Rugi)/ laba komprehensif lainnya

  Other comprehensive (loss)/ income yang tidak direklasifikasi not to be recycled ke dalam laba rugi to profit or loss

  Pengukuran kembali (kerugian)/ keuntungan dari program Remeasurement (losses)/ gain

pensiun manfaat pasti 16b (7,565) 11,850 37,599 28,044 on defined benefit plan

Manfaat/ (beban) pajak

  Related income

penghasilan terkait 1,891 (2,963) (9,400) (7,011) tax benefit/ (expense)

  (Rugi)/ laba komprehensif lainnya periode/ tahun berjalan, setelah Other comprehensive (loss)/ income

pajak (5,674) 8,887 28,199 21,033 for the period/ year, net of tax

Jumlah (rugi)/ laba komprehensif (87,415) 152,002 403,443 396,549 Total comprehensive (loss)/ income

  (Rugi)/ laba periode/ tahun (Loss)/ profit for the period/ year berjalan yang dapat diatribusikan attributable to the owners of

kepada pemilik entitas induk (81,741) 143,115 375,244 375,516 the parent entity

Jumlah (rugi)/ laba komprehensif

  Total comprehensive (loss)/ income periode/ tahun berjalan yang for the period/ year attributable dapat diatribusikan kepada to the owners of the

pemilik entitas induk (87,415) 152,002 403,443 396,549 parent entity

(Rugi)/ laba bersih per saham dasar

  Basic and diluted (loss)/ earnings dan dilusian

  20 (8)

  13

  35 38 per share

  

Biaya keuangan 25, 28j (794,292) (796,114) (1,539,281) (1,793,508) Finance cost

(Kerugian)/ keuntungan selisih kurs Foreign exchange (loss)/ gain

dari pembiayaan - bersih (287,700) 40,951 (39,200) 286,050 from financing - net

Penghasilan keuangan 28k 310,917 101,241 244,365 260,869 Finance income

  7 211,437 211,437 422,875 1,721,058 Gain from tower sale and leaseback

Lain-lain 121,142 19,767 (144,106) (111,342) Others

(10,430,156) (10,159,850) (21,217,401) (19,654,551) 615,886 773,703 1,658,261 1,686,874

  (Rugi)/ laba sebelum pajak

penghasilan (155,189) 25,666 221,238 185,581 (Loss)/ profit before income tax

  LAPORAN PERUBAHAN EKUITAS INTERIM

  INTERIM STATEMENTS OF CHANGES IN EQUITY

UNTUK PERIODE ENAM BULAN YANG BERAKHIR FOR THE SIX-MONTH PERIODS ENDED

  30 JUNI 2018 DAN 2017

  30 JUNE 2018 AND 2017

DAN TAHUN-TAHUN YANG BERAKHIR AND FOR THE YEARS ENDED

  31 DESEMBER 2017 DAN 2016

  31 DECEMBER 2017 AND 2016

  (Dinyatakan dalam jutaan Rupiah) (Expressed in millions of Rupiah)

  

Diatribusikan kepada pemilik entitas induk/

Attributable to the owners of the parent entity

  Saldo laba/ Retained earnings Tambahan modal Modal disetor/ Telah Belum saham/ Additional ditentukan ditentukan Jumlah

Catatan/ Share paid-in penggunaannya/ penggunaannya/ ekuitas/

  

Notes capital capital Appropriated Unappropriated Total equity

Balance as at

  Saldo 1 Januari 2017 1,068,796 12,138,748 700 8,000,901 21,209,145

  1 January 2017

• Laba periode berjalan

  143,115 143,115 Profit for the period Cadangan kompensasi Reserved for share-based

  11,512 - - - berbasis saham 2o, 18 11,512 compensation

  Laba komprehensif lainnya, Other comprehensive

• setelah pajak 2o

  8,887 8,887 income, net of tax Pembentukan Appropriation to cadangan wajib 19 - 100 (100) statutory reserve - -

  Balance as at Saldo 30 Juni 2017 1,068,796 12,150,260 800 8,152,803 21,372,659

  30 June 2017 Balance as at

  Saldo 1 Januari 2018 1,068,796 12,157,010 800 8,404,244 21,630,850

  1 January 2018

• Rugi periode berjalan

  (81,741) Loss for the period - (81,741) - Cadangan kompensasi Reserved for share-based

• berbasis saham 2o, 18 2,652 2,652 compensation Rugi komprehensif lainnya,

  Other comprehensive setelah pajak

• 2o

  (5,674) (5,674) loss, net of tax Pembentukan Appropriation to

  19 100 (100) - - statutory reserve - cadangan wajib Balance as at

  Saldo 30 Juni 2018 1,068,796 12,159,662 900 8,316,729 21,546,087

  30 June 2018

  LAPORAN PERUBAHAN EKUITAS INTERIM

  INTERIM STATEMENTS OF CHANGES IN EQUITY UNTUK PERIODE ENAM BULAN YANG BERAKHIR FOR THE SIX-MONTH PERIODS ENDED

  30 JUNI 2018 DAN 2017

  30 JUNE 2018 AND 2017

DAN TAHUN-TAHUN YANG BERAKHIR AND FOR THE YEARS ENDED

  31 DESEMBER 2017 DAN 2016

  31 DECEMBER 2017 AND 2016

  (Dinyatakan dalam jutaan Rupiah) (Expressed in millions of Rupiah)

  

Diatribusikan kepada pemilik entitas induk/

Attributable to the owners of the parent entity

  Saldo laba/ Retained earnings Tambahan modal Modal disetor/ Telah Belum saham/ Additional ditentukan ditentukan Jumlah

Catatan/ Share paid-in penggunaannya/ penggunaannya/ ekuitas/

  

Notes capital capital Appropriated Unappropriated Total equity

Balance as at

  Saldo 1 Januari 2016 854,138 5,632,445 700 7,604,352 14,091,635

  1 January 2016 Penerbitan saham baru

  Issuance of new shares terkait penawaran in relation to limited umum terbatas 18 213,759 6,519,656 6,733,415 - public offering - Penerbitan saham baru

  Issuance of new shares terkait kompensasi in relation to share- berbasis saham 38 899 31,643 - 32,542 based compensation - Biaya penerbitan saham

  Shares issuance cost terkait penawaran in relation to limited

  (58,187) - - - umum terbatas (58,187) public offering Biaya penerbitan saham Shares issuance cost terkait kompensasi in relation to share-

• berbasis saham (36) (36) based compensation - - Laba tahun berjalan

  375,516 - - - 375,516 Profit for the year Laba komprehensif Other comprehensive lainnya, setelah pajak - - - 2o

  21,033 21,033 income, net of tax Cadangan kompensasi Reserved for share-based

• compensation - - berbasis saham 2o, 18 13,227 13,227

  Balance as at Saldo 31 Desember 2016 1,068,796 12,138,748 700 8,000,901 21,209,145

  31 December 2016

• Laba tahun berjalan

  375,244 375,244 Profit for the year Cadangan kompensasi Reserved for share-

• based compensation - - berbasis saham 2o, 18 18,262 18,262 Laba komprehensif

  Other comprehensive

• lainnya, setelah pajak - 2o

  28,199 28,199 income, net of tax Pembentukan Appropriation to cadangan wajib 19 100 (100) - - - statutory reserve

  Balance as at Saldo 31 Desember 2017 1,068,796 12,157,010 800 8,404,244 21,630,850

  31 December 2017

  LAPORAN ARUS KAS INTERIM

  INTERIM STATEMENTS OF CASH FLOWS

UNTUK PERIODE ENAM BULAN YANG BERAKHIR FOR THE SIX-MONTH PERIODS ENDED

  30 JUNI 2018 DAN 2017

  30 JUNE 2018 AND 2017

DAN TAHUN-TAHUN YANG BERAKHIR AND FOR THE YEARS ENDED

  31 DESEMBER 2017 DAN 2016

  31 DECEMBER 2017 AND 2016

  (Dinyatakan dalam jutaan Rupiah) (Expressed in millions of Rupiah)

  2018 2017 2017 2016 Catatan/ (6 bulan/ (6 bulan/ (12 bulan/ (12 bulan/ Notes months) months) months) months)

  ARUS KAS DARI CASH FLOWS FROM AKTIVITAS OPERASI

  OPERATING ACTIVITIES Penerimaan dari pelanggan

  Receipts from customers

dan operator lain 11,315,503 10,900,272 22,799,136 21,293,411 and other operators

Pembayaran kepada

  Payments for suppliers

pemasok dan beban lain (6,178,748) (5,322,096) (12,264,284) (12,987,540) and other expenses

Pembayaran kepada karyawan (615,539) (488,210) (1,114,710) (1,023,184) Payments to employees

  

Kas yang dihasilkan dari operasi 4,521,216 5,089,966 9,420,142 7,282,687 Cash generated from operation

Penghasilan keuangan yang diterima 69,403 81,849 145,338 200,945 Finance income received

Penerimaan bersih pengembalian

  Net refund from corporate

• pajak penghasilan badan 27e 225,626 308,345 income tax - Pembayaran pajak penghasilan

  Payments of corporate income tax

badan dan pajak final (28,822) (31,200) (124,094) (264,648) and final tax

(Pembayaran)/ penerimaan

  (Payments)/ receipts pajak lainnya 27e (308,381) (137,561) 93,008 of other taxes - Arus kas bersih yang diperoleh

  Net cash flows generated

dari aktivitas operasi 4,253,416 5,366,241 9,612,170 7,311,992 from operating activities

  ARUS KAS DARI CASH FLOWS FROM AKTIVITAS INVESTASI

  INVESTING ACTIVITIES

Pembelian aset tetap 7, 38 (2,032,056) (3,703,107) (6,697,095) (5,584,443) Acquisition of fixed assets

Penerimaan dari transaksi jual

  Proceeds from sale and

• dan sewa-balik

  1,837,591 leaseback transaction 9 (105,600) (314,481) Investment in joint venture -

• Investasi pada ventura bersama Penerimaan kas bersih dari

  aset lain-lain 50,366 56,606 88,366 83,980 Net proceeds from other assets

  Penerimaan dari aset tetap yang dijual

  Proceeds from sale of fixed assets dan penggantian klaim asuransi 7 8,591 70,208 79,443 128,199 and insurance claims Arus kas bersih yang digunakan

  Net cash flows used

untuk aktivitas investasi (1,973,099) (3,576,293) (6,634,886) (3,849,154) in investing activities

  ARUS KAS DARI CASH FLOWS FROM AKTIVITAS PENDANAAN

  FINANCING ACTIVITIES Penerimaan dari transaksi jual

  Proceeds from sale and 1,730,409 leaseback transaction - - dan sewa-balik - Pembayaran utang kepada

• pemegang saham

  (2,299,439) Payments for shareholder loan

• Penerimaan dari penerbitan saham 18, 38

  2,265,041 Proceeds from share issuance Pembayaran pinjaman jangka panjang 13 (1,995,900) (2,250,000) (3,650,000) (4,425,696) Repayment of long-term loans

• Penerimaan pinjaman jangka panjang 1,497,750 1,497,750 Proceeds from long-term loans Pembayaran bunga pinjaman

  Payment of interest from

jangka panjang (383,951) (482,690) (848,986) (1,336,293) long-term loans

Pembayaran liabilitas sewa dan biaya

  Payment for lease liabilities and sale

transaksi jual dan sewa-balik (605,267) (632,452) (904,879) (598,787) and leaseback transaction cost

Pembayaran imbal hasil ijarah (144,068) (53,555) (195,529) (151,536) Payment of ijarah return

  Biaya penerbitan saham (58,223) Share issuance cost - - -

• Biaya penerbitan sukuk ijarah (4,464) (4,464) Sukuk ijarah issuance cost Pembayaran sukuk ijarah

  15 (1,040,000) (494,000) Payment for sukuk ijarah - -

• Penerimaan dari sukuk ijarah 2,180,000 Proceeds from sukuk ijarah - 2,180,000 Arus kas bersih yang digunakan

  Net cash flows used

untuk aktivitas pendanaan (2,671,436) (1,243,161) (1,926,108) (5,368,524) in financing activities

(Penurunan)/ kenaikan bersih

  Net (decrease)/ increase in cash

kas dan setara kas (391,119) 546,787 1,051,176 (1,905,686) and cash equivalents

  Cash and cash equivalents at

Kas dan setara kas pada awal tahun 2,455,343 1,399,910 1,399,910 3,311,867 the beginning of the year

Dampak perubahan selisih kurs

  Effect of exchange rate changes

terhadap kas dan setara kas 29,322 (3,463) 4,257 (6,271) on cash and cash equivalents

Kas dan setara kas pada

  Cash and cash equivalents at akhir periode/ tahun 3 2,093,546 1,943,234 2,455,343 1,399,910 the end of the period/ year

CATATAN ATAS LAPORAN KEUANGAN INTERIM UNTUK PERIODE ENAM BULAN YANG BERAKHIR

  30 JUNI 2018 DAN 2017 DAN TAHUN-TAHUN YANG BERAKHIR

  31 DESEMBER 2017 DAN 2016

  (Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain)

  NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED

  30 JUNE 2018 AND 2017 AND FOR THE YEARS ENDED

  31 DECEMBER 2017 AND 2016 (Expressed in millions of Rupiah, unless otherwise stated)

  1. UMUM

  1. GENERAL

a. Pendirian dan informasi umum

  XL Axiata Tbk (“Perseroan”) yang sebelumnya bernama PT Excelcomindo Pratama Tbk, pertama kali didirikan dengan nama PT Grahametropolitan Lestari. Perseroan berkedudukan hukum di Jakarta dan didirikan sesuai dengan peraturan perundang-undangan yang berlaku di Negara Republik Indonesia berdasarkan Akta Pendirian Perseroan Terbatas No. 55 tanggal 6 Oktober 1989, sebagaimana diubah dengan Akta Perubahan No. 79 tanggal 17 Januari 1991. Keduanya dibuat di hadapan Rachmat Santoso, S.H., Notaris di Jakarta. Akta-akta tersebut memperoleh persetujuan dari Menteri Kehakiman Republik Indonesia berdasarkan Surat Keputusan Menteri No. C2-515.HT.

  01.01.TH.91 tanggal

  PT

  21 Agustus 1991, dan diumumkan dalam Berita Negara Republik Indonesia No. 90, Tambahan No. 4070, tanggal 8 November 1991.

  PT XL Axiata Tbk (the “Company”) which was previously known as PT Excelcomindo Pratama Tbk, was initially established under the name PT Grahametropolitan Lestari. The Company has its legal domicile in Jakarta and was established as a limited liability company under the laws of the Republic of Indonesia under Deed of Establishment No. 55 dated 6 October 1989, as amended by Deed No. 79, dated

  17 January 1991. The preparation of both deeds was overseen by Rachmat Santoso, S.H., Notary in Jakarta. The deeds were approved by the Minister of Justice of the Republic of Indonesia in the Minister’s Decision Letter No. C2-515.HT.01.01.TH.91, dated

  19 February 1991, registered in the District Court of South Jakarta under No. 670/Not/1991/PN.JKT.SEL and No. 671/Not/1991/PN.JKT.SEL, dated

  21 August 1991, and published in the State Gazette of the Republic of Indonesia No. 90, Supplement No. 4070, dated 8 November 1991.

  Anggaran Dasar Perseroan telah mengalami beberapa kali perubahan. Perubahan terakhir sehubungan dengan peningkatan modal ditempatkan dan disetor penuh Perseroan, yang dilakukan melalui Rapat Umum Pemegang Saham Luar Biasa Perseroan tanggal 10 Maret 2016, sebagaimana dimuat dalam Akta Pernyataan Keputusan Rapat No. 19 tanggal 14 September 2016 yang dibuat di hadapan Aryanti Artisari, S.H., M.Kn., Notaris di Jakarta. Perubahan ini mendapatkan Penerimaan Pemberitahuan Perubahan Anggaran Dasar dari Menteri Hukum dan Hak Asasi Manusia Republik Indonesia No. AHU- AH.01.03-008117 tanggal 19 September 2016.

  The Company’s Articles of Association have been amended several times. The latest amendment in relation to the increase of the Company issued and fully paid capital was based on Extraordinary General Meeting of Shareholders dated 10 March 2016, as stated in Deed of Resolution No. 19 dated

  14 September 2016 made before Aryanti Artisari, S.H., M.Kn, Notary in Jakarta. This amendment was registered with notification receipt No. AHU-AH.01.03-008117 dated 19 September 2016, issued by the Minister of Law and Human Rights of the Republic of Indonesia.

  Axiata Investments (Indonesia) Sdn. Bhd., pemegang saham mayoritas Perseroan merupakan entitas anak yang dimiliki sepenuhnya oleh Axiata Investments (Labuan) Limited. Axiata Investments (Labuan) Limited adalah entitas anak Axiata Grup Berhad.

  The Company’s majority shareholder, Axiata Investments (Indonesia) Sdn. Bhd., is a wholly owned subsidiary of Axiata Investments (Labuan) Limited. Axiata Investments (Labuan) Limited is a subsidiary of Axiata Group Berhad.

  a. Establishment and general information

  19 Februari 1991, didaftarkan di Pengadilan Negeri Jakarta Selatan No. 670/Not/1991/PN.JKT.SEL dan No. 671/Not/1991/PN.JKT.SEL, tanggal

CATATAN ATAS LAPORAN KEUANGAN INTERIM UNTUK PERIODE ENAM BULAN YANG BERAKHIR

  30 JUNI 2018 DAN 2017 DAN TAHUN-TAHUN YANG BERAKHIR

  31 DESEMBER 2017 DAN 2016

  (Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain)

  NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED

  30 JUNE 2018 AND 2017 AND FOR THE YEARS ENDED

  31 DECEMBER 2017 AND 2016 (Expressed in millions of Rupiah, unless otherwise stated)

  1. UMUM (lanjutan)

  1. GENERAL (continued)

b. Penawaran umum efek

  On 16 September 2005, the Company received an effective statement from the Indonesian Capital Market Supervisory Agency (BAPEPAM-LK) No. S-2531/PM/2005 for Initial Public Stock Offering of 1,427,500,000 of its shares with a par value of Rp 100 (full amount Rupiah) per share. All of the Company’s issued shares were listed on the Indonesia Stock Exchange on

  Pada tanggal 16 September 2005, Perseroan memperoleh surat pernyataan efektif dari Badan Pengawas Pasar Modal dan Lembaga Keuangan (BAPEPAM-LK) No.S-2531/PM/2005 untuk melakukan Penawaran Umum Perdana Saham sebanyak 1.427.500.000 lembar saham dengan nilai nominal Rp 100 (nilai Rupiah penuh) per lembar saham. Seluruh saham yang diterbitkan Perseroan dicatatkan di Bursa Efek Indonesia pada tanggal 29 September 2005 dengan harga penawaran sebesar Rp 2.000 (nilai Rupiah penuh) per lembar saham.

  Pada tanggal 16 November 2009, Perseroan melalui mekanisme Penawaran Umum Terbatas I (“PUT I”) dengan Hak Memesan Efek Terlebih Dahulu (“HMETD”) menerbitkan 1.418.000.000 lembar saham biasa setara dengan nilai nominal Rp 100 (nilai Rupiah penuh) (lihat Catatan 18). Seluruh saham yang diterbitkan Perseroan dicatatkan di Bursa Efek Indonesia.

  On 16 November 2009, the Company, through Limited Public Offering I (“LPO I”) in respect of a rights issue with Pre-emptive Rights, issued 1,418,000,000 ordinary shares with par value of Rp 100 (full amount Rupiah) (see Note 18). All of the Company’s issued shares were listed on the Indonesia Stock Exchange.

  Rapat Umum Pemegang Saham Luar Biasa pada tanggal 14 April 2011 telah menyetujui program kompensasi berbasis saham. Perseroan menerbitkan saham melalui mekanisme penerbitan saham tanpa HMETD kepada karyawan yang berhak (lihat Catatan 18). Seluruh saham yang diterbitkan Perseroan tersebut dicatatkan di Bursa Efek Indonesia.

  The Extraordinary General Meeting of Shareholder on 14 April 2011 approved the share-based compensation program. The Company issued shares through share issuance without Pre-emptive Rights to the eligible employees (see Note 18). All of the Company’s issued shares were listed on the Indonesia Stock Exchange.

  Pada tanggal 23 November 2015 Peseroan memperoleh Pernyataan Efektif untuk menerbitkan Sukuk Ijarah dengan nama Sukuk Ijarah Berkelanjutan I XL Axiata Tahap 1 Tahun 2015 sebesar Rp. 1.500.000 dengan periode jatuh tempo antara 370 (tiga ratus tujuh puluh) hari kalender hingga 7 (tujuh) tahun dan dicatatkan di Bursa Efek Indonesia pada tanggal 3 Desember 2015 (lihat Catatan 15).

  On 23 November 2015, the Company received an effective statement for issuing sukuk ijarah namely Shelf Sukuk Ijarah I XL Axiata Tranche I Year 2015 amounting to Rp 1,500,000 with maturity period of 370 (three hundred and seventy) calendar days up to 7 (seven) years and was registered in Indonesian Stock Exchange on 3 December 2015 (see Note 15).

  Pada tanggal 10 Maret 2016, Rapat Umum Pemegang Saham Luar Biasa menyetujui program insentif jangka panjang untuk tahun

  On 10 March 2016, Extraordinary General Meeting of Shareholders approved the long term incentive programme for performance

  b. The Company’s public offerings

  29 September 2005 at the offering price of Rp 2,000 (full amount Rupiah) per share.

CATATAN ATAS LAPORAN KEUANGAN INTERIM UNTUK PERIODE ENAM BULAN YANG BERAKHIR

  On 28 April 2017, the Company issued Sukuk Ijarah namely Shelf Sukuk Ijarah I XL Axiata Tranche

  The Company obtains License of Registration of Foreign Investment No. 580/1/PI/PMA/2018 dated 20 February 2018 for telecommunication

  Perseroan memperoleh Izin Pendaftaran Penanaman Modal Asing No. 580/1/PI/PMA/2018 tanggal 20 Februari

  25 November 2014.

  In relation completion of the merger with AXIS, the Company has obtained Principle License of Merger of Capital Investment No. 3/1/IP-PP/PMA/2014 dated 7 April 2014 and License of Merger of Foreign Capital Investment No. 7/1/IU-PP/PMA/2014, dated

  Sehubungan dengan telah diselesaikannya penggabungan usaha dengan AXIS, Perseroan memperoleh Izin Prinsip Penggabungan Perusahaan Penanaman Modal No. 3/1/IP-PP/PMA/2014 tanggal 7 April 2014 dan Izin Usaha Penggabungan Perusahan Penanaman Modal Asing No. 7/1/IU-PP/PMA/2014 tanggal 25 November 2014.

  In accordance with its Articles of Association, the Company’s purpose is to provide telecommunications services and/ or telecommunications networks and/ or multimedia services. The Company commenced its commercial operations in 1996 and therefore the Company has obtained licenses as required by Investment Coordination Board (“BPKM”).

  Sesuai dengan Anggaran Dasar, tujuan Perseroan adalah melakukan kegiatan dalam usaha penyelenggaraan jasa telekomunikasi dan/ atau jaringan telekomunikasi dan/ atau multimedia. Perseroan memulai operasi komersialnya di tahun 1996 dan oleh karenanya Perseroan telah memiliki perizinan-perizinan sebagaimana dipersyaratkan oleh Badan Koordinasi Penanaman Modal (“BKPM”).

  c. Investment license

  c. Ijin investasi

  II Year 2017 amounting to Rp 2,180,000 with maturity period of 370 (three hundred and seventy) calendar days up to 10 (ten) years and was registered in Indonesia Stock Exchange on 2 May 2017 (see Note 15).

  30 JUNI 2018 DAN 2017 DAN TAHUN-TAHUN YANG BERAKHIR

  31 DESEMBER 2017 DAN 2016

  Pada tanggal

  On 4 May 2016, the Company through Limited Public Offering II ("LPO II") Year 2016 in respect of a rights issue with Pre-emptive Rights, issued 2,137,592,085 new shares with nominal amount of Rp 100 (full amount Rupiah) (see Notes 17 and 18). All of the Company’s issued shares were listed on the Indonesia Stock Exchange on 25 May 2016.

  Pada tanggal 4 Mei 2016, Perseroan melalui mekanisme Penawaran Umum Terbatas II (“PUT II”) tahun 2016 dengan hak memesan efek terlebih dahulu (“HMETD”), menerbitkan 2.137.592.085 lembar saham baru setara dengan nilai nominal Rp 100 (nilai Rupiah penuh) (lihat Catatan 17 dan 18). Seluruh saham yang diterbitkan Perseroan dicatatkan di Bursa Efek Indonesia pada tanggal 25 Mei 2016.

  b. The Company’s public offerings (continued)

  b. Penawaran umum efek (lanjutan)

  1. GENERAL (continued)

  1. UMUM (lanjutan)

  31 DECEMBER 2017 AND 2016 (Expressed in millions of Rupiah, unless otherwise stated)

  30 JUNE 2018 AND 2017 AND FOR THE YEARS ENDED

  NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED

  (Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain)

  28 April 2017, Perseroan menerbitkan Sukuk Ijarah dengan nama Sukuk Ijarah Berkelanjutan I XL Axiata Tahap II Tahun 2017 sebesar Rp 2.180.000 dengan periode jatuh tempo antara 370 (tiga ratus tujuh puluh) hari kalendar hingga 10 (sepuluh) tahun dan dicatatkan di Bursa Efek Indonesia pada tanggal 2 Mei 2017 (lihat Catatan 15).

CATATAN ATAS LAPORAN KEUANGAN INTERIM UNTUK PERIODE ENAM BULAN YANG BERAKHIR

  30 JUNI 2018 DAN 2017 DAN TAHUN-TAHUN YANG BERAKHIR

  31 DESEMBER 2017 DAN 2016

  (Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain)

  NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED

  30 JUNE 2018 AND 2017 AND FOR THE YEARS ENDED

  31 DECEMBER 2017 AND 2016 (Expressed in millions of Rupiah, unless otherwise stated)

  1. UMUM (lanjutan)

  1. GENERAL (continued)

d. Ijin penyelenggaraan

  Packet Switched (“JARTAPLOK Packet Switched”). Untuk setiap ijin, evaluasi

  005/TEL.01.02/2018 Jaringan Tetap Lokal Packet Switched/ Packet Switched Local Fixed Network (“JARTAPLOK Packet Switched”)

  d. Operating license

  10 Desember / December 2014, 30 Juni/ June 2015, 29 Agustus/ August 2017 dan/and 20 November

  20 Juni/ June 2014 diubah/ revised

  Jaringan Bergerak Selular (meliputi 3GPP 900, DCS 1800, IMT 2000 dan 2100 Mhz) Jaspondas, Teknologi Netral/ Cellular Mobile Network (including 3GPP 900, DCS 1800, IMT 2000 and 2100 Mhz), Basic Telephony Services, Neutral Technology

  618 Tahun 2014 diubah dengan/ revised by 1021 Tahun 2014, 641 Tahun 2015, 1734 Tahun 2017 dan/ and 2005 Tahun 2017

  27 April 2018 Ijin Penyelenggaraan Jaringan Bergerak Selular/ License to Operate Cellular Mobile Network

  3 Mei/ May 2018 Ijin Penyelenggaraan Jaringan Tetap Lokal Packet Switched/ License to operate Packet Switched Local Fixed Network (“JARTAPLOK Packet Switched”)

  dilakukan setiap 5 (lima) tahun. Sebagai tambahan, Perseroan juga mendapatkan ijin- ijin lainnya.

  12/816/DASP Jasa Penerbitan Uang Elektronik/ e-Money Issuer

  Ijin Penerbit Uang Elektronik/ e-Money Issuer License

  Tanggal penetapan atau perpanjangan/ Grant date or latest renewal date

  Jenis jasa/ Type of services

  Perseroan pada prinsipnya menyelenggarakan jasa teleponi dasar melalui jaringan bergerak selular, Jasa Akses Internet (“ISP”), Jasa Penyelenggaraan Jaringan Tetap Tertutup (”JARTUP”), Jasa Internet Teleponi untuk Keperluan Publik (“ITKP”), Jasa Interkoneksi Internet (“NAP”) dan Jaringan Tetap Lokal

  Rincian dari ijin-ijin tersebut adalah sebagai berikut:

  The Company is principally involved in the provision of basic telephony services on cellular mobile network, Internet Services Provider (“ISP”), Closed Fixed Network Services (”JARTUP”), Internet Telephony Service for Public Interest License (“ITKP”), Internet Interconnection Services (“NAP”) and Packet Switched Local Fixed Network License (“JARTAPLOK Packet Switched”). For every license, an evaluation is performed every 5 (five) years. In addition, the Company also obtained various other licenses.

  Details of these licenses are as follows: Ijin/ License No. ijin/ License no.

  

CATATAN ATAS LAPORAN KEUANGAN INTERIM NOTES TO THE INTERIM FINANCIAL STATEMENTS

UNTUK PERIODE ENAM BULAN YANG BERAKHIR FOR THE SIX-MONTH PERIODS ENDED

30 JUNI 2018 DAN 2017

  30 JUNE 2018 AND 2017

DAN TAHUN-TAHUN YANG BERAKHIR AND FOR THE YEARS ENDED

  31 DESEMBER 2017 DAN 2016

  31 DECEMBER 2017 AND 2016

  (Dinyatakan dalam jutaan Rupiah, (Expressed in millions of Rupiah, kecuali dinyatakan lain)

  unless otherwise stated)

  1. UMUM (lanjutan)

  1. GENERAL (continued)

d. Ijin penyelenggaraan (lanjutan)

  d. Operating licenses (continued)

  Rincian dari ijin-ijin tersebut adalah sebagai Details of these licenses are as follows: berikut: (lanjutan) (continued)

  Tanggal penetapan atau perpanjangan/ Jenis jasa/ Type of Grant date or Ijin/ License No. ijin/ License no. services latest renewal date

  Ijin Penyelenggaraan 1039 Tahun 2017 dan/ and Jasa Interkoneksi Internet/

  16 Mei/ May Jasa Interkoneksi 1938 Tahun 2017 Internet Interconnection 2017 dan/

Internet/ License to Services (“NAP”) and

Operate Internet

  31 Oktober/ Interconnection

  October 2017 Services (“NAP”) Ijin Penyelenggaraan Kepdirjen No. 172 Tahun Jasa Internet Teleponi

  21 Oktober/ Jasa Internet 2016 dan/ and 1939 untuk Keperluan October 2016 Teleponi untuk Tahun 2017 Publik (“ITKP”)/ Voice dan/ and 31 Keperluan Publik/ over Internet Oktober/ License to Operate Protocol (“VoIP”) October 2017 VoIP

  Ijin Penyelenggaraan Kepdirjen No. 234 Tahun Jasa Penyediaan Konten/

  7 Agustus/ Jasa Penyediaan 2014 dan/ and 1940 Content Providing August 2014 Konten/ License to Tahun 2017 Service dan/ and 31 Operate Content

  Oktober/ Providing Service

  October 2017 Ijin Penyelenggaraan 395 Tahun 2013 dan/ and Jasa Akses Internet/

  21 November Jasa Akses 1937 Tahun 2017 Internet Services 2013 dan/ Internet/ License Provider (“ISP”) and 31 to Operate

  Oktober/ Internet Access

  October 2017 Services (“ISP”) Ijin Penyelenggaraan 14/96/DASP/40 Jasa Pengiriman Uang bagi

  24 Januari/ Jasa Pengiriman Badan Usaha January 2012 Uang/ License to selain Bank/ Money

  Operate Money Remitter Services Remitter for Non-Bank

  PT AXIS Telekom Indonesia (“AXIS”), yang PT AXIS Telekom Indonesia (“AXIS”), which was diakuisisi pada tanggal 19 Maret 2014 (lihat acquired on 19 March 2014 (see Note 37), Catatan 37), memperoleh Lisensi Modern obtained the new Modern License to operate terbaru untuk mengoperasikan jasa mobile telecommunication services based on the

  Decree of Minister of Communication

  telekomunikasi bergerak berdasarkan Surat Keputusan Menteri Komunikasi dan Teknologi and Information Technology Informasi No. 425/KEP/M.KOMINFO/07/2012 No. 425/KEP/M.KOMINFO/07/2012 dated

  4 July 2012, which covers the following:

  tanggal 4 Juli 2012, yang mencakup:

CATATAN ATAS LAPORAN KEUANGAN INTERIM UNTUK PERIODE ENAM BULAN YANG BERAKHIR

  Susunan Dewan Komisaris dan Dewan Direksi Perseroan pada tanggal

  Muliadi Rahardja David Robert Dean David Robert Dean ⁴

  Wirjawan Independent Commissioners

  Wirjawan Yasmin Stamboel

Wirjawan

Yasmin Stamboel

  Ibrahim Chari TVT Dato’ Sri Mohammed Shazalli bin Ramly ³ Mohd. Khairil Kevin Loh bin Abdullah ² Commissioners Komisaris Independen Yasmin Stamboel

  

Ibrahim

Vivek Sood

¹ Kenneth Shen ⁵ Mohd. Khairil Kevin Loh bin Abdullah Peter J. Chambers ⁶ YBhg Tan Sri Jamaludin bin

  Ibrahim Vivek Sood Kenneth Shen Peter J. Chambers David Robert Dean ⁸ YBhg Tan Sri Jamaludin bin

  President Commissioner Komisaris YBhg Tan Sri Jamaludin bin

  

Muhamad Chatib

Basri Muhamad Chatib Basri

  Board of Commissioners Presiden Komisaris Muhamad Chatib Basri

  30 June 2018, 31 December 2017 and 2016 are as follows: 30/06/2018 31/12/2017 31/12/2016 Dewan Komisaris

  The composition of the Company’s Board of Commissioners and Board of Directors as at

  31 Desember 2017 dan 2016 adalah sebagai berikut:

  30 Juni 2018,