PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK

Foreign Filer Report • May 11, 2009

6-K 1 u00228e6vk.htm PT TELEKOMUNIKASI INDONESIA PT TELEKOMUNIKASI INDONESIA PAGEBREAK

Table of Contents

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 May , 20 09

Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI INDONESIA

(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 o

[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 o No þ

[If “yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ]

Enclosure: 2007 Annual Report of Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI INDONESIA

Folio /Folio

PAGEBREAK

TOC

TABLE OF CONTENTS

SIGNATURES

/TOC

Table of Contents

link1 "SIGNATURES"

SIGNATURES

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.

		Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI INDONESIA
		(Registrant)
Date	May 11, 2009	By	/s/ Heri Supriadi
		(Signature)
			Heri Supriadi VP Investor Relations/ Corporate Secretary

Folio /Folio

PAGEBREAK

Table of Contents

PRESS RELEASE

No. TEL.60/PR000/COM-10/2009

TELKOM TODAY SIMULTANEOUSLY FILED ITS ANNUAL REPORT 2008 AND ITS FIRST QUARTER UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 2009

Jakarta, May 11, 2009 — Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk. (“TELKOM” or the “Company”) filed its Annual Report 2008 (which include the audited consolidated financial statement for year 2008) and its un-audited consolidated first quarter 2009 financial statements to BAPEPAM (Capital Market Supervisory Agency) and the Stock Exchanges, as well as its Annual Report on Form 20-F to the United States Securities and Exchange Commission.

TELKOM’s President Director, Rinaldi Firmansyah stated that: “During Q1 2009, we maintained a good operational performance as we did in 2008, whereas ADSL (Speedy)’s subscribers increased by 144.8% from 292 thousand in Q1/2008 to 716 thousand subscribers (excluding those education and trial phase) in Q1/2009. Fixed wireless’ subscribers increased by 99.4% from 6.7 million subscribers to 13.4 million, while cellular’s subscribers increased by 40.5% as compared Q1/2008 from 51.3 million subscribers to 72.1 million subscribers.”

Rinaldi Firmansyah added: “However, our financial results were affected by the decrease in tariffs and loss of foreign exchange compared to the same period last year. It is still premature to judge all external factors impacting TELKOM’s performance in Q1 2009”

Complete Copies of both balance sheets and income statements for the audited full year 2008 and first quarter 2009 are attached to this Press Release. For complete version of all the documents above, please visit www.telkom-indonesia.com .

HERI SUPRIADI

Acting Vice President Investor Relations/Corporate Secretary

For further information, please contact:

Investor Relations/ Corporate Secretary PT TELEKOMUNIKASI INDONESIA, Tbk Tel: 62-21-5215109 Fax: 62-21-5220500 Email: investor@telkom.co.id Website: www.telkom-indonesia.com

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk. (“TELKOM” or the “Company”) is the biggest full service and network provider in Indonesia. TELKOM’s majority-owned subsidiary Telkomsel is also the largest Indonesian mobile cellular operator, as measured by subscribers and revenues. The Company also provides a wide range of other telecommunication services including interconnection, network, data and internet services, and other telecommunications services. 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)

Folio /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2007 AND 2008 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)

	Notes	2007 — Rp.	2008 — Rp.	US$
ASSETS
CURRENT ASSETS
Cash and cash equivalents	2c,2e,5,45	10,140,791	6,889,945	632,105
Temporary investments	2c,2f,45	159,504	267,044	24,499
Trade receivables	2c,2g,6,38,45
Related parties — net of allowance
for doubtful accounts of
Rp.69,521 million in 2007 and
Rp.81,196 million in 2008		449,085	544,974	49,998
Third parties — net of allowance for
doubtful accounts of
Rp.1,030,935 million in 2007 and
Rp.1,122,709 million in 2008		2,912,403	2,964,795	272,000
Other receivables — net of allowance for
doubtful accounts of
Rp.10,982 million in 2007
and Rp.9,194 million in 2008	2c,2g,45	150,508	108,874	9,988
Inventories — net of allowance for
obsolescence of Rp.54,701 million
in 2007 and Rp.64,849 million in 2008	2h,7,38	211,441	511,950	46,968
Prepaid expenses	2c,2i,8,45	1,407,410	1,875,773	172,089
Claims for tax refund	39,55	408,011	569,954	52,289
Prepaid taxes	39,55	60,222	805,594	73,908
Other current assets	2c,9,45	78,720	83,407	7,652
Total Current Assets		15,978,095	14,622,310	1,341,496
NON-CURRENT ASSETS
Long-term investments — net	2f,10	113,990	169,253	15,528
Property, plant and equipment — net of
accumulated depreciation of
Rp.54,005,834 million in 2007 and	2k,2l,4,11,
Rp.61,917,333 million in 2008	19,20,23,55	60,075,808	70,589,590	6,476,109
Property, plant and equipment under
Revenue-Sharing Arrangements — net
of accumulated depreciation of
Rp.502,563 million in 2007 and
Rp.249,707 million in 2008	2m,12,35,48	705,091	476,654	43,730
Prepaid pension benefit cost	2i,2r,42	398	97	9
Advances and other non-current assets	2c,2k,2o,13,
	29,45,50	1,408,764	2,159,688	198,137
Goodwill and other intangible assets — net
of accumulated amortization of
Rp.5,080,694 million in 2007 and
Rp.6,324,335 million in 2008	2d,2j,4,14,38,55	3,775,212	3,187,808	292,459
Escrow accounts	2c,15,45	1,402	50,850	4,665
Total Non-current Assets		66,080,665	76,633,940	7,030,637
TOTAL ASSETS		82,058,760	91,256,250	8,372,133

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 1 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (continued) DECEMBER 31, 2007 AND 2008 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)

	Notes	2007 — Rp.	2008 — Rp.	US$
LIABILITIES AND STOCKHOLDERS’
EQUITY
CURRENT LIABILITIES
Trade payables	2c,16,45
Related parties		942,912	1,376,146	126,252
Third parties		5,962,022	10,793,238	990,205
Other payables		16,679	11,959	1,097
Taxes payable	2s,39	3,052,149	739,688	67,861
Accrued expenses	2c,17,36,42,45	2,741,076	4,093,632	375,563
Unearned income	2q,18	2,413,952	2,742,123	251,571
Advances from customers and suppliers		141,361	141,132	12,948
Short-term bank loans	2c,19,45	573,669	46,000	4,220
Current maturities of long-term liabilities	2c,2l,20,45	4,830,809	7,054,233	647,177
Total Current Liabilities		20,674,629	26,998,151	2,476,894
NON-CURRENT LIABILITIES
Deferred tax liabilities — net	2s,39	3,034,100	2,904,873	266,502
Unearned income on Revenue-Sharing
Arrangements	2m,12,48	503,385	299,324	27,461
Accrued long service awards	2c,2r,43,45	74,520	102,633	9,416
Accrued post-retirement
health care benefits	2c,2r,44,45	2,768,923	2,570,720	235,846
Accrued pension and other post-
retirement benefits costs	2c,2r,42,45	1,354,543	1,141,798	104,752
Long-term liabilities — net of current
maturities
Obligations under finance leases	2l,11,20	201,994	337,780	30,989
Two-step loans — related party	2c,20,21,45	3,727,884	3,949,431	362,333
Bank loans	2c,20,23,45	4,165,168	7,495,144	687,628
Deferred consideration for business
combinations	20,24	2,500,273	1,458,545	133,811
Total Non-current Liabilities		18,330,790	20,260,248	1,858,738
MINORITY INTEREST	25	9,304,762	9,683,780	888,420

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 2 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (continued) DECEMBER 31, 2007 AND 2008 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)

	Notes	2007 — Rp.	Rp.		US$
STOCKHOLDERS’ EQUITY
Capital stock — Rp.250 par value per
Series A Dwiwarna share and
Series B share
Authorized — 1 Series A Dwiwarna
share and 79,999,999,999
Series B shares
Issued and fully paid — 1 Series A
Dwiwarna share and
20,159,999,279 Series B shares	1c,26	5,040,000		5,040,000		462,385
Additional paid-in capital	2u,27	1,073,333		1,073,333		98,471
Treasury stock — 244,740,500 shares in
2007 and 490,574,500 shares in 2008	2u,28	(2,176,611	)	(4,264,073	)	(391,199	)
Difference in value arising from
restructuring transactions and
other transactions between
entities under common control	2d,29	270,000		360,000		33,028
Difference due to change of equity in
associated companies	2f	385,595		385,595		35,376
Unrealized holding (loss) gain from
available-for-sale securities	2f	11,237		(19,066	)	(1,749	)
Translation adjustment	2f	230,017		238,319		21,864
Retained earnings
Appropriated		6,700,879		10,557,985		968,623
Unappropriated		22,214,129		20,941,978		1,921,282
Total Stockholders’ Equity		33,748,579		34,314,071		3,148,081
TOTAL LIABILITIES AND
STOCKHOLDERS’ EQUITY		82,058,760		91,256,250		8,372,133

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 3 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME YEARS ENDED DECEMBER 31, 2006, 2007 AND 2008 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars, except per share and per ADS data)

	Notes	2006 — Rp.	Rp.		Rp.		US$
OPERATING REVENUES
Telephone	2q,30
Fixed lines		10,979,033		11,001,211		9,730,257		892,684
Cellular		20,622,647		22,638,065		25,332,028		2,324,039
Interconnection	2c,2q,31,45
Revenues		11,793,805		12,705,911		12,054,314		1,105,900
Expenses		(3,112,344	)	(3,054,604	)	(3,263,560	)	(299,409	)
Net		8,681,461		9,651,307		8,790,754		806,491
Data,
internet and information technology services	2q,33	9,065,187		14,684,135		14,712,758		1,349,794
Joint Operation Schemes	2n,32,47	489,414		—		—		—
Network	2c,2q,34,45	718,738		707,374		1,079,475		99,034
Revenue-Sharing Arrangements	2m,12,35,48	415,477		427,978		326,052		29,913
Other telecommunications services	2q	322,051		329,941		718,460		65,914
Total Operating Revenues		51,294,008		59,440,011		60,689,784		5,567,869
OPERATING EXPENSES
Depreciation	2k,2l,2m,11,12,13,55	9,094,187		9,440,476		11,069,575		1,015,557
Personnel	2c,2r,17,36,42,43,44,45	8,513,765		8,494,890		9,116,634		836,388
Operations, maintenance and
telecommunication services	2c,2q,37,45	7,495,728		9,590,596		12,217,685		1,120,889
General and administrative	2g,2h,2q,6,7,14,38,55	3,355,583		3,672,194		3,628,686		332,907
Marketing	2q	1,241,504		1,769,147		2,349,729		215,571
Total Operating Expenses		29,700,767		32,967,303		38,382,309		3,521,312
OPERATING INCOME		21,593,241		26,472,708		22,307,475		2,046,557
OTHER (EXPENSES) INCOME
Interest income	2c,45	654,984		518,663		671,834		61,636
Equity in net income (loss) of
associated companies	2f,10	(6,619	)	6,637		20,471		1,878
Interest expense	2c,45	(1,286,354	)	(1,436,165	)	(1,581,818	)	(145,121	)
(Loss) gain on foreign exchange — net	2p	836,328		(294,774	)	(1,613,759	)	(148,051	)
Others — net		202,025		328,584		508,605		46,661
Other (expenses) income — net		400,364		(877,055	)	(1,994,667	)	(182,997	)
INCOME BEFORE TAX		21,993,605		25,595,653		20,312,808		1,863,560
TAX (EXPENSE) BENEFIT	2s,39
Current		(7,097,202	)	(7,233,874	)	(5,823,558	)	(534,271	)
Deferred		57,275		(693,949	)	183,863		16,868
		(7,039,927	)	(7,927,823	)	(5,639,695	)	(517,403	)
INCOME BEFORE MINORITY INTEREST
IN NET INCOME OF CONSOLIDATED
SUBSIDIARIES		14,953,678		17,667,830		14,673,113		1,346,157
MINORITY INTEREST IN NET INCOME OF
CONSOLIDATED SUBSIDIARIES — Net	25	(3,948,101	)	(4,810,812	)	(4,053,643	)	(371,894	)
NET INCOME		11,005,577		12,857,018		10,619,470		974,263
BASIC EARNINGS PER SHARE	2w,40
Net income per share		547.15		644.08		537.73		0.05
Net income per ADS (40 Series B shares per ADS)		21,886.00		25,763.20		21,509.20		2.00

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 4 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED) MARCH 31, 2008 AND 2009 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)

	Notes	2008 — Rp.	2009 — Rp.	US$
ASSETS
CURRENT ASSETS
Cash and cash equivalents	2c,2e,5,43	9,830,473	6,509,704	563,367
Temporary investments	2c,2f,43	186,708	287,558	24,886
Trade receivables	2c,2g,6,36,43
Related parties — net of allowance
for doubtful accounts of
Rp.130,703 million in 2008 and
Rp.114,447 million in 2009		399,786	770,121	66,648
Third parties — net of allowance for
doubtful accounts of
Rp.1,161,958 million in 2008 and
Rp.1,174,383 million in 2009		2,658,133	3,003,901	259,965
Other receivables — net of allowance for
doubtful accounts of
Rp.10,719 million in 2008
and Rp.7,734 million in 2009	2c,2g,43	122,953	102,809	8,897
Inventories — net of allowance for
obsolescence of Rp.56,868 million
in 2008 and Rp.68,111 million in 2009	2h,7,36	253,898	493,683	42,725
Prepaid expenses	2c,2i,8,43	1,226,795	2,087,031	180,617
Claims for tax refund	37, 52	408,011	222,954	19,295
Prepaid taxes	37, 52	71,366	803,700	69,554
Other current assets	2c,9,43	75,686	43,201	3,739
Total Current Assets		15,233,809	14,324,662	1,239,693
NON-CURRENT ASSETS
Long-term investments — net	2f,10	140,261	170,184	14,728
Property, plant and equipment — net of
accumulated depreciation of
Rp.56,472,320 million in 2008 and Rp.64,853,338 million in 2009	2k,2l,4,11, 19,20,22,52	60,392,109	71,165,921	6,158,885
Property, plant and equipment under
Revenue-Sharing Arrangements — net
of accumulated depreciation of
Rp.524,688 million in 2008 and
Rp.272,514 million in 2009	2m,12,33,45	664,787	453,847	39,277
Prepaid pension benefit cost	2i,2r,40	557	176	15
Advances and other non-current assets	2c,2k,2o,13, 28,43,47	1,624,082	2,260,788	195,655
Goodwill and other intangible assets — net
of accumulated amortization of
Rp.5,389,667 million in 2008 and Rp.6,641,019 million in 2009	2d,2j,4, 14,36,52	3,743,962	2,873,087	248,644
Escrow accounts	2c,15,43	1,285	44,105	3,817
Total Non-current Assets		66,567,043	76,968,108	6,661,021
TOTAL ASSETS		81,800,852	91,292,770	7,900,714

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 1 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (continued) MARCH 31, 2008 AND 2009 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)

	Notes	2008 — Rp.	2009 — Rp.	US$
LIABILITIES AND STOCKHOLDERS’
EQUITY
CURRENT LIABILITIES
Trade payables	2c,16,43
Related parties		577,569	1,238,113	107,150
Third parties		4,845,103	8,954,257	774,925
Other payables		50,509	23,168	2,005
Taxes payable	2s,37	1,554,280	1,163,836	100,721
Accrued expenses	2c,17,34,43	3,069,501	3,383,731	292,837
Unearned income	2q,18	2,477,559	2,794,029	241,803
Advances from customers and suppliers		174,824	711,724	61,594
Short-term bank loans	2c,19,43	215,814	42,612	3,688
Current maturities of long-term liabilities	2c,2l,20,43	4,567,427	6,980,674	604,126
Total Current Liabilities		17,532,586	25,292,144	2,188,849
NON-CURRENT LIABILITIES
Deferred tax liabilities — net	2s,37	3,023,781	2,898,126	250,811
Unearned income on Revenue-Sharing
Arrangements	2m,12,45	443,013	267,392	23,141
Accrued long service awards	2c,2r,41,43	76,806	108,722	9,409
Accrued post-retirement
health care benefits	2c,2r,42,43	2,894,582	2,553,531	220,989
Accrued pension and other
post-retirement benefits costs	2c,2r,40,43	1,324,308	1,057,509	91,520
Long-term liabilities — net of current
maturities
Obligations under finance leases	2l,11,20	209,515	292,772	25,337
Two-step loans — related party	2c,20,21,43	3,688,710	3,874,738	335,330
Bank loans	2c,20,22,43	3,830,987	6,393,675	553,325
Deferred consideration for business
combinations	20,23	2,117,166	1,179,701	102,095
Total Non-current Liabilities		17,608,868	18,626,166	1,611,957
MINORITY INTEREST	24	10,556,996	10,581,091	915,715

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 2 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (continued) MARCH 31, 2008 AND 2009 (Figures in tables are presented in millions of Rupiah and thousands of United States Dollars)

	Notes	2008 — Rp.	Rp.		US$
STOCKHOLDERS’ EQUITY
Capital stock — Rp.250 par value per
Series A Dwiwarna share and
Series B share
Authorized — 1 Series A Dwiwarna
share and 79,999,999,999
Series B shares
Issued and fully paid — 1 Series A
Dwiwarna share and
20,159,999,279 Series B shares	1c,25	5,040,000		5,040,000		436,175
Additional paid-in capital	2u,26	1,073,333		1,073,333		92,889
Treasury stock — 337,293,000 shares in
2008 and 490,574,500 shares in 2009	2u,27	(3,030,368	)	(4,264,114	)	(369,028	)
Difference in value arising from
restructuring transactions and
other transactions between
entities under common control	2d,28	270,000		360,000		31,155
Difference due to change of equity in
associated companies	2f	385,595		385,595		33,370
Unrealized holding gain from
available-for-sale securities	2f	12,586		1,653		143
Translation adjustment	2f	228,914		239,055		20,688
Retained earnings
Appropriated		6,700,879		10,557,985		913,716
Unappropriated		25,421,463		23,399,862		2,025,085
Total Stockholders’ Equity		36,102,402		36,793,369		3,184,193
TOTAL LIABILITIES AND
STOCKHOLDERS’ EQUITY		81,800,852		91,292,770		7,900,714

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 3 /Folio

PAGEBREAK

Table of Contents

PERUSAHAAN PERSEROAN (PERSERO) P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) THREE MONTHS PERIOD ENDED MARCH 31, 2008 AND 2009

(Figures in tables are presented in millions of Rupiah and thousands of United States Dollars, except per share and per ADS data)

	Notes	2008 — Rp.	Rp.		US$
OPERATING REVENUES
Telephone	2q,29
Fixed lines		2,540,438		2,116,593		183,176
Cellular		5,966,083		6,517,451		564,037
Interconnection	2c,2q,30,43
Revenues		3,041,324		2,659,347		230,147
Expenses		(781,585	)	(743,834	)	(64,373	)
Net		2,259,739		1,915,513		165,774
Data, internet and information
technology services	2q,31	3,944,676		3,715,768		321,572
Network	2c,2q,32,43	218,807		263,470		22,801
Revenue-Sharing Arrangements	2m,12,33,45	97,936		43,773		3,788
Other telecommunications services	2q	3,924		129,610		11,217
Total Operating Revenues		15,031,603		14,702,178		1,272,365
OPERATING EXPENSES
Depreciation	2k,2l,2m, 11,12,13,52	2,500,577		2,964,718		256,574
Personnel	2c,2r,17,34, 40,41,42,43	2,246,902		1,904,766		164,843
Operations, maintenance and
telecommunication services	2c,2q,35,43	2,506,173		3,288,635		284,607
General and administrative	2g,2h,2q,6, 7,14,36,52	858,482		841,257		72,805
Marketing	2q	376,981		414,604		35,881
Total Operating Expenses		8,489,115		9,413,980		814,710
OPERATING INCOME		6,542,488		5,288,198		457,655
OTHER (EXPENSES) INCOME
Interest income	2c,43	174,205		138,451		11,982
Equity in net income (loss) of
associated companies	2f,10	(874	)	931		81
Interest expense	2c,43	(263,146	)	(517,388	)	(44,776	)
Loss on foreign exchange — net	2p	(45,655	)	(211,718	)	(18,323	)
Others — net	52	102,916		56,371		4,878
Other expenses — net		(32,554	)	(533,353	)	(46,158	)
INCOME BEFORE TAX		6,509,934		4,754,845		411,497
TAX (EXPENSE) BENEFIT	2s,37
Current		(2,058,376	)	(1,405,610	)	(121,645	)
Deferred		5,363		6,747		584
		(2,053,013	)	(1,398,863	)	(121,061	)
INCOME BEFORE MINORITY INTEREST
IN NET INCOME OF CONSOLIDATED
SUBSIDIARIES		4,456,921		3,355,982		290,436
MINORITY INTEREST IN NET INCOME OF
CONSOLIDATED SUBSIDIARIES — net	24	(1,249,587	)	(898,098	)	(77,724	)
NET INCOME		3,207,334		2,457,884		212,712
BASIC EARNINGS PER SHARE	2w,38
Net income per share		161.50		124.46		0.01
Net income per ADS (40 Series B shares per ADS)		6,460.00		4,978.40		0.40

See accompanying notes to consolidated financial statements, which form an integral part of the consolidated financial statements.

Folio 4 /Folio