PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK

Foreign Filer Report • Apr 29, 2011

6-K 1 telkom6-k2011q1pressrelease.htm PT TELEKOMUNIKASI INDONESIA TBK telkom6-k2011q1pressrelease.htm - Generated by SEC Publisher for SEC Filing

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- ]

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,TBK
		(Registrant)
Date	April 29, 2011	By /s/ Agus Murdiyatno
		(Signature)
		Agus Murdiyatno
		Vice President
Investor Relation

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:

	FY 2010	1Q 2011	% Increase (decrease)
	(In Billion Rp)
Total Assets	99,758	100,685	0.9
Total Liabilities	43,344	40,455	(6.7)
Non-Controlling Interests	11,996	12,991	8.3
Total Equity	56,415	60,231	6.8
	1Q 2010	1Q 2011	% Increase (decrease)
	(In Billion Rp.)
Operating Revenue	16,356	16,706	2.1
Operating Expense	11,037	11,512	4.3
Operating Income	5,320	5,194	(2.4)
Income for the period*	2,786	2,828	1.5
EBITDA	9,059	8,642	(4.6)
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)

	Unit	1Q 2010	1Q 2011	% Increase (decrease)
Fixed Lines:
- Wireline	Subs (000)	8,382	8,333	(0.6)
- Wireless	Subs (000)	15,948	18,708	17.3
Total Fixed Lines	Subs (000)	24,330	27,041	11.1
Cellular:
- Postpaid	Subs (000)	2,047	2,165	5.8
- Prepaid	Subs (000)	79,903	97,200	21.6
Total Customer Base Cellular	Subs (000)	81,950	99,365	21.3
ADSL (Speedy)	Subs (000)	1,283	1,791	39.6
MoU Cellular	Billion minutes	28	43	53.4
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)

| | December
31, 2010 — Rp. | March
31, 2011 — Rp. | US$
(Note 3) |
| --- | --- | --- | --- |
| ASSETS | | | |
| CURRENT ASSETS | | | |
| Cash and cash
equivalents | 9,119,849 | 10,645,475 | 1,222,564 |
| Temporary
investments | 370,433 | 380,047 | 43,646 |
| Trade
receivables | | | |
| Related
parties - net of allowance for doubtful accounts of Rp.151,266 million in
2010 and Rp.88,897 million in 2011 | 780,043 | 1,124,366 | 129,126 |
| Third parties
- net of allowance for doubtful accounts of Rp.1,294,078 million in 2010 and
Rp.1,461,089 million in 2011 | 3,563,666 | 3,611,144 | 414,717 |
| Other
receivables - net of allowance for doubtful accounts of Rp.6,304 million in
2010 and Rp.6,164 million in 2011 | 90,140 | 83,906 | 9,636 |
| Inventories -
net of allowance for obsolescence Rp.83,286 million in 2010 and Rp.87,730
million in 2011 | 515,536 | 553,137 | 63,524 |
| Advances and
prepaid expenses | 3,441,031 | 3,298,167 | 378,773 |
| Claims for tax
refund | 133,056 | 121,686 | 13,975 |
| Prepaid taxes | 715,698 | 826,223 | 94,886 |
| Other current
assets | 1,175 | 1,175 | 135 |
| Total Current
Assets | 18,730,627 | 20,645,326 | 2,370,982 |
| NON-CURRENT
ASSETS | | | |
| Long-term
investments - net | 253,850 | 251,471 | 28,880 |
| Property,
plant and equipment - net of accumulated depreciation of Rp.83,712,378
million in 2010 and Rp. 83,071,756 million in
2011 | 75,832,408 | 74,684,267 | 8,577,005 |
| Prepaid
pension benefit cost | 988 | 932 | 107 |
| Advances and other
non-current assets | 3,052,695 | 3,307,615 | 379,858 |
| 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 | 1,784,525 | 1,705,775 | 195,897 |
| Escrow
accounts | 41,662 | 40,307 | 4,629 |
| Deferred tax
assets - net | 61,692 | 49,785 | 5,717 |
| Total
Non-current Assets | 81,027,820 | 80,040,152 | 9,192,093 |
| TOTAL ASSETS | 99,758,447 | 100,685,478 | 11,563,075 |

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)

| | December
31, 2010 — Rp. | March
31, 2011 — Rp. | US$
(Note 3) |
| --- | --- | --- | --- |
| LIABILITIES
AND STOCKHOLDERS' EQUITY | | | |
| CURRENT
LIABILITIES | | | |
| Trade
payables | | | |
| Related
parties | 1,153,874 | 702,918 | 80,726 |
| Third
parties | 6,356,921 | 5,806,443 | 666,832 |
| Other
payables | 20,953 | 28,187 | 3,237 |
| Taxes
payables | 735,690 | 933,993 | 107,263 |
| Dividend
payables | 255,545 | 5,460 | 627 |
| Accrued
expenses | 3,409,260 | 3,933,530 | 451,740 |
| Unearned
income | 2,681,483 | 2,855,948 | 327,987 |
| Advances from
customers and suppliers | 499,705 | 297,700 | 34,189 |
| Short-term
bank loans | 55,831 | 66,440 | 7,630 |
| Current
maturities of long-term liabilities | 5,303,636 | 4,373,982 | 502,324 |
| Total Current
Liabilities | 20,472,898 | 19,004,601 | 2,182,555 |
| NON-CURRENT LIABILITIES | | | |
| Deferred tax
liabilities - net | 4,073,814 | 4,043,894 | 464,415 |
| Unearned
income | 312,029 | 295,105 | 33,891 |
| Accrued long
service awards | 242,149 | 242,177 | 27,813 |
| Accrued
post-retirement health care benefits | 1,050,030 | 991,865 | 113,909 |
| Accrued
pension and other post-retirement benefits costs | 536,990 | 588,895 | 67,631 |
| Long-term
liabilities - net of current maturities | | | |
| Obligations
under finance leases | 408,867 | 376,041 | 43,186 |
| Two-step
loans - related party | 2,741,303 | 2,531,541 | 290,731 |
| Bonds
and notes | 3,249,379 | 3,280,730 | 376,771 |
| Bank
loans | 10,256,205 | 9,099,750 | 1,045,047 |
| Total
Non-current Liabilities | 22,870,766 | 21,449,998 | 2,463,394 |
| TOTAL
LIABILITIES | 43,343,664 | 40,454,599 | 4,645,949 |

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)

| | December
31, 2010 — Rp. | | March
31, 2011 — Rp. | | US$
(Note 3) | |
| --- | --- | --- | --- | --- | --- | --- |
| STOCKHOLDERS'
EQUITY | | | | | | |
| STOCKHOLDERS'
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT | | | | | | |
| 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 | 5,040,000 | | 5,040,000 | | 578,811 | |
| Additional
paid-in capital | 1,073,333 | | 1,073,333 | | 123,265 | |
| Treasury stock
- 490,574,500 shares in 2010 and 2011 | (4,264,073 | ) | (4,264,073 | ) | (489,701 | ) |
| Difference in
value arising from restructuring transactions and other transactions between entities
under common control | 478,000 | | 478,000 | | 54,895 | |
| Difference due
to change of equity in associated companies | 385,595 | | 385,595 | | 44,283 | |
| Unrealized
holding gain from available-for-sale securities | 49,695 | | 46,671 | | 5,360 | |
| Translation
adjustment | 233,378 | | 228,867 | | 26,284 | |
| Difference due
to acquisition of non-controlling interest in subsidiaries | (484,629 | ) | (484,629 | ) | (55,657 | ) |
| Retained
earnings | | | | | | |
| Appropriated | 15,336,746 | | 15,336,746 | | 1,761,326 | |
| Unappropriated | 26,570,697 | | 29,399,000 | | 3,376,285 | |
| Total
Stockholders' Equity Attributable To Owners Of The Parent | 44,418,742 | | 47,239,510 | | 5,425,151 | |
| Non-controlling
Interest | 11,996,041 | | 12,991,369 | | 1,491,975 | |
| TOTAL
STOCKHOLDERS' EQUITY | 56,414,783 | | 60,230,879 | | 6,917,126 | |
| TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY | 99,758,447 | | 100,685,478 | | 11,563,075 | |

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)

| | 2010* — Rp. | | 2011 — Rp. | | US$
(Note 3) | |
| --- | --- | --- | --- | --- | --- | --- |
| OPERATING
REVENUES | | | | | | |
| Telephone | | | | | | |
| Fixed
lines | 3,308,062 | | 2,929,579 | | 336,443 | |
| Cellular | 6,691,220 | | 6,754,777 | | 775,742 | |
| Interconnection | 1,050,682 | | 846,083 | | 97,167 | |
| Data, internet
and information technology services | 4,764,426 | | 5,451,873 | | 626,112 | |
| Network | 277,470 | | 304,873 | | 35,013 | |
| Other telecommunications
services | 264,476 | | 418,575 | | 48,071 | |
| Total
Operating Revenues | 16,356,336 | | 16,705,760 | | 1,918,548 | |
| OPERATING
EXPENSES | | | | | | |
| Depreciation
and amortization | 3,739,090 | | 3,447,594 | | 395,935 | |
| Personnel | 1,874,100 | | 1,951,393 | | 224,105 | |
| Operations,
maintenance and telecommunication services | 3,737,601 | | 4,069,777 | | 467,387 | |
| General and
administrative | 599,339 | | 511,471 | | 58,739 | |
| Interconnection | 670,220 | | 806,101 | | 92,575 | |
| Marketing | 416,458 | | 725,421 | | 83,310 | |
| Total
Operating Expenses | 11,036,808 | | 11,511,757 | | 1,322,051 | |
| OPERATING
INCOME | 5,319,528 | | 5,194,003 | | 596,497 | |
| OTHER
(EXPENSES) INCOME | | | | | | |
| Interest
income | 79,674 | | 120,140 | | 13,797 | |
| Equity in net
(loss) income of associated companies | 437 | | (1,136 | ) | (130 | ) |
| Interest
expense | (504,235 | ) | (405,239 | ) | (46,539 | ) |
| Gain on
foreign exchange - net | 164,054 | | 152,428 | | 17,505 | |
| Others - net | 77,005 | | 74,058 | | 8,505 | |
| Other expenses
- net | (183,065 | ) | (59,749 | ) | (6,862 | ) |
| INCOME
BEFORE TAX | 5,136,463 | | 5,134,254 | | 589,635 | |
| TAX
(EXPENSE) BENEFIT | | | | | | |
| Current | (1,011,852 | ) | (1,328,635 | ) | (152,585 | ) |
| Deferred | (348,368 | ) | 18,012 | | 2,069 | |
| | (1,360,220 | ) | (1,310,623 | ) | (150,516 | ) |
| INCOME
FOR THE PERIOD | 3,776,243 | | 3,823,631 | | 439,119 | |
| OTHER
COMPREHENSIVE (EXPENSE) INCOME | | | | | | |
| Foreign
currency translation | (169 | ) | (4,511 | ) | (518 | ) |
| Change in fair
value of available-for-sale financial assets - net of tax | 16,977 | | (3,024 | ) | (347 | ) |
| Total Other
Comprehensive (Expense) Income | 16,808 | | (7,535 | ) | (865 | ) |
| TOTAL
COMPREHENSIVE INCOME FOR THE PERIOD | 3,793,051 | | 3,816,096 | | 438,254 | |

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)

| | 2010* — Rp. | 2011 — 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 |