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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13 a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2011
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk.
(Exact name of Registrant as specified in its charter)
Telecommunications Indonesia
(a state-owned public limited liability company)
(Translation of Registrant’s name into English)
Jalan Japati No. 1 Bandung-40133 INDONESIA
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.]
Form 20-F þ Form 40-F ¨
[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934]
Yes ¨ No þ
[If “yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82- ]
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SIGNATURES |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned, thereunto duly authorized. |
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Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI INDONESIA,TBK |
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(Registrant) |
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Date |
April 29, 2011 |
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By /s/ Agus Murdiyatno |
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(Signature) |
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Agus Murdiyatno |
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Vice President Investor Relation |
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PRESS RELEASE
No. TEL.96/PR .000/COP-A00700000/2011
TELKOM FILES THE FIRST QUARTER UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 2011
Jakarta, April 29, 2011 – PT Telekomunikasi Indonesia Tbk. ("TELKOM" or the “Company”) has filed its un-audited Consolidated Financial Statements (the “Consolidated Statements”) for the three month period ended March 31, 2011 with BAPEPAM-LK, the Indonesian Capital Market Supervisory Agency.
Complete copies of both the un-audited financial position (balance sheet) and un-audited statements of comprehensive income (income statements) for the first quarter 2011 are attached to this press release. For complete versions of all the documents above, please visit www.telkom.co.id
Since January 1, 2011, the Company and its subsidiaries have adopted PSAK 1 (Revised 2009), “Presentation of Financial Statements”, PSAK 2 (Revised 2009), “Statements of Cash Flows”, and PSAK 3 (Revised 2010), “Interim Financial Statements”, which became effective for financial statement periods beginning on or after January 1, 2011. Those new accounting standards significantly impact to TELKOM’s Financial Statements, especially “Statement of Income” which is currently presented as “Statement of Comprehensive Income”.
A Summary of the financial position and statements of comprehensive income, as well as operational highlights, follows:
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FY 2010 |
1Q 2011 |
% Increase (decrease) |
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(In Billion Rp) | |||
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Total Assets |
99,758 |
100,685 |
0.9 |
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Total Liabilities |
43,344 |
40,455 |
(6.7) |
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Non-Controlling Interests |
11,996 |
12,991 |
8.3 |
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Total Equity |
56,415 |
60,231 |
6.8 |
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1Q 2010 |
1Q 2011 |
% Increase (decrease) |
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(In Billion Rp.) | |||
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Operating Revenue |
16,356 |
16,706 |
2.1 |
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Operating Expense |
11,037 |
11,512 |
4.3 |
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Operating Income |
5,320 |
5,194 |
(2.4) |
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Income for the period* |
2,786 |
2,828 |
1.5 |
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EBITDA |
9,059 |
8,642 |
(4.6) |
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EBITDA Margin (%) |
55.4 |
51.7 |
(3.7) |
The Financial Statements are prepared in according with Generally Accepted Accounting Standard in Indonesia
* Income for the period is the term used for Net Income based on PSAK 1(revised 2009)
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Unit |
1Q 2010 |
1Q 2011 |
% Increase (decrease) |
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Fixed Lines: |
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- Wireline |
Subs (000) |
8,382 |
8,333 |
(0.6) |
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- Wireless |
Subs (000) |
15,948 |
18,708 |
17.3 |
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Total Fixed Lines |
Subs (000) |
24,330 |
27,041 |
11.1 |
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Cellular: |
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- Postpaid |
Subs (000) |
2,047 |
2,165 |
5.8 |
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- Prepaid |
Subs (000) |
79,903 |
97,200 |
21.6 |
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Total Customer Base Cellular |
Subs (000) |
81,950 |
99,365 |
21.3 |
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ADSL (Speedy) |
Subs (000) |
1,283 |
1,791 |
39.6 |
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MoU Cellular |
Billion minutes |
28 |
43 |
53.4 |
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ARPU Cellular-blended |
Rp.‘000 per month |
43 |
37 |
(14.0) |
As of March 31, 2011, TELKOM recorded an increase in total operating revenue of Rp350 billion or 2.1% which was mostly contributed by an increase in data, internet and IT services revenue by Rp688 billion or 14.4% and cellular revenue increased by Rp64 billion or 0.9%, offset by a decrease in interconnection revenue of Rp205 billion or 19.5% and fixed line revenue of Rp378 billion or 11.4%.
TELKOM recorded an increase in operating expenses as of March 31, 2011 by Rp475 billion or 4.3%. The increase was mostly due to an increase in operating, maintenance and other telecommunication expenses by Rp332 billion or 8.9% and an increase in marketing expenses by Rp309 billion or 74.2%. Meanwhile, depreciation and amortization expenses and general and administration expenses were declined by Rp291 billion and Rp88 billion or 7.8% and 14.7%, respectively.
TELKOM recorded income for the period at Rp2.828 billion or increased by 1.5% as compared to prior period.
TELKOM’s President Director, Rinaldi Firmansyah stated. “Our first Quarter 2011 positive performance results mainly contributed from the increase of cellular subscribers provided a solid financial foundation that shall enabled us to proceed confidently despite the chalenging environment. We are no longer merely the incumbent in the domestic telecommunications industry, we are aiming to be a leading innovative player in the digital, information, media and edutainment business as well.”
AGUS MURDIYATNO
Vice President Investor Relations
For further information, please contact:
Investor Relations Unit
PT TELEKOMUNIKASI INDONESIA, Tbk
Tel: 62-21-5215109
Fax: 62-21-5220500
Email: investor@telkom.co.id
Website: www.telkom.co.id
PT Telekomunikasi Indonesia, Tbk. (“TELKOM”) is the largest telecommunication and network services provider in Indonesia. Serving millions of customers nationwide, we provide a strong portfolio of information and communication services, including fixed wireline and fixed wireless telephone, mobile cellular, data and internet, and network and interconnection services, directly or through our subsidiaries. We have broadened our business portfolio to encompass TIME - telecommunications, information, media and edutainment. TELKOM’s shares are listed in the Indonesian Stock Exchange (IDX: TLKM) and its American Depository Shares are listed in the New York Stock Exchange (NYSE:TLK) and London Stock Exchange (LSE:TKIA).
PERUSAHAAN PERSEROAN (PERSERO)
P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS)
DECEMBER 31, 2010 (AUDITED) AND MARCH 31, 2011 (UNAUDITED)
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)
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December 31, 2010 |
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March 31, 2011 |
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Rp. |
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Rp. |
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US$ (Note 3) |
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ASSETS |
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CURRENT ASSETS |
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Cash and cash equivalents |
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9,119,849 |
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10,645,475 |
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1,222,564 |
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Temporary investments |
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370,433 |
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380,047 |
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43,646 |
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Trade receivables |
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Related parties - net of allowance for doubtful accounts of Rp.151,266 million in 2010 and Rp.88,897 million in 2011 |
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780,043 |
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1,124,366 |
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129,126 |
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Third parties - net of allowance for doubtful accounts of Rp.1,294,078 million in 2010 and Rp.1,461,089 million in 2011 |
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3,563,666 |
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3,611,144 |
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414,717 |
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Other receivables - net of allowance for doubtful accounts of Rp.6,304 million in 2010 and Rp.6,164 million in 2011 |
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90,140 |
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83,906 |
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9,636 |
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Inventories - net of allowance for obsolescence Rp.83,286 million in 2010 and Rp.87,730 million in 2011 |
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515,536 |
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553,137 |
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63,524 |
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Advances and prepaid expenses |
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3,441,031 |
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3,298,167 |
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378,773 |
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Claims for tax refund |
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133,056 |
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121,686 |
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13,975 |
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Prepaid taxes |
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715,698 |
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826,223 |
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94,886 |
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Other current assets |
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1,175 |
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1,175 |
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135 |
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Total Current Assets |
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18,730,627 |
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20,645,326 |
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2,370,982 |
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NON-CURRENT ASSETS |
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Long-term investments - net |
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253,850 |
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251,471 |
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28,880 |
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Property, plant and equipment - net of accumulated depreciation of Rp.83,712,378 million in 2010 and Rp.83,071,756 million in 2011 |
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75,832,408 |
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74,684,267 |
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8,577,005 |
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Prepaid pension benefit cost |
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988 |
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932 |
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107 |
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Advances and other non-current assets |
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3,052,695 |
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3,307,615 |
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379,858 |
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Goodwill and other intangible assets - net of accumulated amortization of Rp.9,094,032 million in 2010 and Rp.9,245,179 million in 2011 |
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1,784,525 |
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1,705,775 |
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195,897 |
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Escrow accounts |
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41,662 |
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40,307 |
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4,629 |
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Deferred tax assets - net |
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61,692 |
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49,785 |
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5,717 |
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Total Non-current Assets |
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81,027,820 |
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80,040,152 |
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9,192,093 |
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TOTAL ASSETS |
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99,758,447 |
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100,685,478 |
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11,563,075 |
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PERUSAHAAN PERSEROAN (PERSERO)
P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) (continued)
DECEMBER 31, 2010 (AUDITED) AND MARCH 31, 2011 (UNAUDITED)
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)
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December 31, 2010 |
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March 31, 2011 |
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Rp. |
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Rp. |
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US$ (Note 3) |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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CURRENT LIABILITIES |
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Trade payables |
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Related parties |
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1,153,874 |
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702,918 |
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80,726 |
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Third parties |
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6,356,921 |
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5,806,443 |
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666,832 |
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Other payables |
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20,953 |
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28,187 |
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3,237 |
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Taxes payables |
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735,690 |
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933,993 |
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107,263 |
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Dividend payables |
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255,545 |
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5,460 |
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627 |
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Accrued expenses |
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3,409,260 |
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3,933,530 |
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451,740 |
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Unearned income |
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2,681,483 |
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2,855,948 |
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327,987 |
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Advances from customers and suppliers |
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499,705 |
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297,700 |
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34,189 |
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Short-term bank loans |
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55,831 |
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66,440 |
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7,630 |
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Current maturities of long-term liabilities |
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5,303,636 |
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4,373,982 |
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502,324 |
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Total Current Liabilities |
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20,472,898 |
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19,004,601 |
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2,182,555 |
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NON-CURRENT LIABILITIES |
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Deferred tax liabilities - net |
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4,073,814 |
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4,043,894 |
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464,415 |
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Unearned income |
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312,029 |
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295,105 |
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33,891 |
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Accrued long service awards |
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242,149 |
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242,177 |
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27,813 |
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Accrued post-retirement health care benefits |
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1,050,030 |
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991,865 |
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113,909 |
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Accrued pension and other post-retirement benefits costs |
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536,990 |
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588,895 |
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67,631 |
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Long-term liabilities - net of current maturities |
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Obligations under finance leases |
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408,867 |
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376,041 |
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43,186 |
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Two-step loans - related party |
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2,741,303 |
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2,531,541 |
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290,731 |
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Bonds and notes |
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3,249,379 |
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3,280,730 |
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376,771 |
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Bank loans |
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10,256,205 |
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9,099,750 |
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1,045,047 |
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Total Non-current Liabilities |
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22,870,766 |
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21,449,998 |
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2,463,394 |
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TOTAL LIABILITIES |
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43,343,664 |
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40,454,599 |
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4,645,949 |
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PERUSAHAAN PERSEROAN (PERSERO)
P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS) (continued)
DECEMBER 31, 2010 (AUDITED) AND MARCH 31, 2011 (UNAUDITED)
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)
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December 31, 2010 |
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March 31, 2011 |
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Rp. |
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Rp. |
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US$ (Note 3) |
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STOCKHOLDERS' EQUITY |
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STOCKHOLDERS' EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT |
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Capital stock - Rp.250 par value per Series A Dwiwarna share and Series B share |
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Authorized - 1 Series A Dwiwarna share and 79,999,999,999 Series B shares |
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Issued and fully paid - 1 Series A Dwiwarna share and 20,159,999,279 Series B shares |
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5,040,000 |
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5,040,000 |
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578,811 |
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Additional paid-in capital |
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1,073,333 |
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1,073,333 |
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123,265 |
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Treasury stock - 490,574,500 shares in 2010 and 2011 |
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(4,264,073 |
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(4,264,073 |
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(489,701 |
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Difference in value arising from restructuring transactions and other transactions between entities under common control |
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478,000 |
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478,000 |
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54,895 |
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Difference due to change of equity in associated companies |
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385,595 |
|
385,595 |
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44,283 |
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Unrealized holding gain from available-for-sale securities |
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49,695 |
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46,671 |
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5,360 |
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Translation adjustment |
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233,378 |
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228,867 |
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26,284 |
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Difference due to acquisition of non-controlling interest in subsidiaries |
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(484,629 |
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(484,629 |
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(55,657 |
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Retained earnings |
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Appropriated |
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15,336,746 |
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15,336,746 |
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1,761,326 |
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Unappropriated |
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26,570,697 |
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29,399,000 |
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3,376,285 |
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Total Stockholders' Equity Attributable To Owners Of The Parent |
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44,418,742 |
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47,239,510 |
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5,425,151 |
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Non-controlling Interest |
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11,996,041 |
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12,991,369 |
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1,491,975 |
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TOTAL STOCKHOLDERS' EQUITY |
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56,414,783 |
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60,230,879 |
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6,917,126 |
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
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99,758,447 |
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100,685,478 |
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11,563,075 |
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PERUSAHAAN PERSEROAN (PERSERO)
P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 (UNAUDITED)
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollars, except per share and per ADS data)
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2010* |
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2011 |
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Rp. |
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Rp. |
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US$ (Note 3) |
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OPERATING REVENUES |
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Telephone |
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Fixed lines |
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3,308,062 |
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2,929,579 |
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336,443 |
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Cellular |
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6,691,220 |
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6,754,777 |
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775,742 |
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Interconnection |
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1,050,682 |
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846,083 |
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97,167 |
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Data, internet and information technology services |
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4,764,426 |
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5,451,873 |
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626,112 |
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Network |
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277,470 |
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304,873 |
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35,013 |
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Other telecommunications services |
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264,476 |
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418,575 |
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48,071 |
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Total Operating Revenues |
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16,356,336 |
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16,705,760 |
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1,918,548 |
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OPERATING EXPENSES |
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Depreciation and amortization |
|
3,739,090 |
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3,447,594 |
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395,935 |
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Personnel |
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1,874,100 |
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1,951,393 |
|
224,105 |
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Operations, maintenance and telecommunication services |
|
3,737,601 |
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4,069,777 |
|
467,387 |
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General and administrative |
|
599,339 |
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511,471 |
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58,739 |
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Interconnection |
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670,220 |
|
806,101 |
|
92,575 |
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Marketing |
|
416,458 |
|
725,421 |
|
83,310 |
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Total Operating Expenses |
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11,036,808 |
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11,511,757 |
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1,322,051 |
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OPERATING INCOME |
|
5,319,528 |
|
5,194,003 |
|
596,497 |
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OTHER (EXPENSES) INCOME |
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|
|
|
|
|
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Interest income |
|
79,674 |
|
120,140 |
|
13,797 |
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Equity in net (loss) income of associated companies |
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437 |
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(1,136 |
) |
(130 |
) |
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Interest expense |
|
(504,235 |
) |
(405,239 |
) |
(46,539 |
) |
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Gain on foreign exchange - net |
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164,054 |
|
152,428 |
|
17,505 |
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Others - net |
|
77,005 |
|
74,058 |
|
8,505 |
|
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Other expenses - net |
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(183,065 |
) |
(59,749 |
) |
(6,862 |
) |
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INCOME BEFORE TAX |
|
5,136,463 |
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5,134,254 |
|
589,635 |
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TAX (EXPENSE) BENEFIT |
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|
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|
|
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Current |
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(1,011,852 |
) |
(1,328,635 |
) |
(152,585 |
) |
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Deferred |
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(348,368 |
) |
18,012 |
|
2,069 |
|
|
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(1,360,220 |
) |
(1,310,623 |
) |
(150,516 |
) |
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INCOME FOR THE PERIOD |
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3,776,243 |
|
3,823,631 |
|
439,119 |
|
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OTHER COMPREHENSIVE (EXPENSE) INCOME |
|
|
|
|
|
|
|
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Foreign currency translation |
|
(169 |
) |
(4,511 |
) |
(518 |
) |
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Change in fair value of available-for-sale financial assets - net of tax |
|
16,977 |
|
(3,024 |
) |
(347 |
) |
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Total Other Comprehensive (Expense) Income |
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16,808 |
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(7,535 |
) |
(865 |
) |
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TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
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3,793,051 |
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3,816,096 |
|
438,254 |
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PERUSAHAAN PERSEROAN (PERSERO)
P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (continued)
THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 (UNAUDITED)
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollars, except per share and per ADS data)
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2010* |
|
2011 |
|
||
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|
Rp. |
|
Rp. |
|
US$ (Note 3) |
|
|
Income for the period attributable to: |
|
|
|
|
|
|
|
|
Owners of the parent |
|
2,786,263 |
|
2,828,303 |
|
324,812 |
|
|
Non-controlling interest |
|
989,980 |
|
995,328 |
|
114,307 |
|
|
|
|
3,776,243 |
|
3,823,631 |
|
439,119 |
|
|
Total comprehensive income attributable to: |
|
|
|
|
|
|
|
|
Owners of the parent |
|
2,803,071 |
|
2,820,768 |
|
323,947 |
|
|
Non-controlling interest |
|
989,980 |
|
995,328 |
|
114,307 |
|
|
|
|
3,793,051 |
|
3,816,096 |
|
438,254 |
|
|
BASIC EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
Income per share |
|
141.65 |
|
143.79 |
|
0.02 |
|
|
Income per ADS (40 Series B shares per ADS) |
|
5,666.00 |
|
5,751.60 |
|
0.08 |
|