BOLD MOVES,
BOOSTING
SUSTAINABLE
GROWTH
ESG
A NN U A L
R E PO R T
I
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk k
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THEME
Bold Moves, Boosting Sustainable Growth
PT Telkom Indonesia (Persero) Tbk (Telkom) as one of the State-Owned Enterprises (SOEs) is a national
economic driver, which continuously make every effort to effect Indonesia’s digital sovereignty
through various innovations. We support the Government’s measures to ameliorate a domestic
development performance that is more equitable. To achieve this, we carry out clear strategies,
goals, and directions whilst continuing to balance environmental, social, and governance (ESG)
performances to achieve sustainability. With a business world that is very dynamic and with rapid
changes, we thus invite all stakeholders to run with us as we pursue our sustainability goals and
toward a brighter future.
Annual Report 2022
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DISCLAIMER
PT Telkom Indonesia (Persero) Tbk has published this Report as a form of transparency and accountability to
present material data and information for our stakeholders. In general, the contents of this Report are derived
from internal analysis as well as credible document sources and trustworthy sources.
Some parts of this Report contain data and information that are forward-looking statements such as targets,
expectations, forecasts, estimates, prospects, or projections of Telkom’s future operational performance and
business conditions. Before being presented in this Report, Telkom has carefully considered the data and
information.
However, Telkom understands that risks and uncertainties that are caused by several factors, such as changes
in the economic, social, and political conditions in Indonesia may affect future operational performance and
business conditions. Consequently, Telkom would like to remind readers that Telkom cannot guarantee that
the data and information that comprise this Report’s forward-looking statements are true, accurate, and can
be fulfilled entirely.
In addition to publishing this Report, Telkom as a company listed on the New York Stock Exchange (NYSE)
is also required to submit SEC Form 20-F as Annual Report to the Securities and Exchange Commission
(SEC). Therefore, some of the information in the 2022 Annual Report can also be found in the SEC Form 20-F,
although the two Reports are not the same.
The term “Telkom” as used in this Report refers to the parent entity, while the term “Telkom and its
Subsidiaries” or “TelkomGroup” refers to the entire parent company, subsidiaries, and affiliated entities as a
whole. Nevertheless, the use of the term “Telkom” does not exclude subsidiaries and affiliates within the scope
of the contents and discussion of the Report.
For the convenience of stakeholders, the electronic document of this 2022 Annual Report can be accessed and
downloaded through http://www.telkom.co.id
Or scan here:
IDX Ticker
NYSE Ticker
: TLKM
: TLK
Telkom stakeholders can submit questions and suggestions to:
Investor Relation Unit
Edwin Julianus Sebayang
PT Telkom Indonesia (Persero) Tbk
The Telkom Hub, Telkom Landmark Tower 39th Floor
Jl. Jend. Gatot Subroto Kav. 52, Jakarta 12710, Indonesia
Phone
Fax.
E-mail
Facebook
Instagram
Twitter
: (6221) 521 5109
: (6221) 522 0500
: investor@telkom.co.id
: TelkomIndonesia
: telkomindonesia
: @telkomindonesia
Annual Report 2022
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TABLE OF CONTENTS
THEME
DISCLAIMER
TABLE OF CONTENTS
0101 TELKOM HIGHLIGHTS
Profile of Telkom and Its Subsidiaries
Products and Customers
Infrastructure
1
2
6
8
9
10 Operational Areas and Services
78
Chronology of Stocks Registration
80 Chronology of Other Securities Registration
82 Name and Address of Institutions and/or
Supporting Capital Market Profession
0404 MANAGEMENT DISCUSSION AND
ANALYSIS
Key Financial Data Overview
86 Business Environment Overview 2022
Stock Information
89 Operational Overview by Business
Information Regarding Obligations, Sukuk
or Convertible Bonds
Segment
106 Marketing Overview
12
16
18
22
28
34
38
42
44
0202 REPORT OF THE BOARD OF
COMMISSIONERS AND DIRECTORS
Report of the Board of Commissioners
Report of the Board of Directors
Statement Letter of Responsibility for 2022
Annual Report
0303 ABOUT TELKOM
Purpose, Vision, Mission, and Strategy
Corporate Culture and Value
Telkom Milestones
46 Business Activities
48
Telkom Organizational Structure
50
52
58
64
66
70
72
List of Industry Association Memberships
Profile of the Board of Commissioners
Profile of the Board of Directors
Profile of the Senior Vice President
Telkom Employees
Shareholders Composition
Subsidiaries, Associated Companies, and
Joint Ventures
2
Annual Report 2022
115 Comprehensive Financial Performance
127
Solvency
128 Capital Structure and the Management
Policies for Capital Structure
129 Realization of Capital Expenditure
130 Material Commitment for Capital
Expenditure
131 Receivables Collectability
132 Material Information and Fact After
Accountant Reporting Date
133 Business Prospects and Sustainability of
the Company
134 Comparison of Initial Year Target and
Realization
135
Target or Projections for the Following Year
TIPS FOR READING THE CONTENTS OF THIS REPORT
Readers who wish to gain a general understanding of Telkom are
advised to read this Report from the beginning to the “Report
of the Board of Commissioners and Board of Directors”. Readers
who wish to learn in-depth about Telkom are advised to continue
reading this Report until the end.
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136 Dividend
253
Significant Legal Disputes
137 Realization of Public Offering Fund
138 Material Information Regarding
Transaction with Conflict of Interest,
Transaction with Affiliated Parties,
Investment, Divesment, and Acquisition
139 Changes in Law and Regulation
140 Changes in Accounting Policy
0505 CORPORATE GOVERNANCE
144 Corporate Governance Principle and
Platform
150 Corporate Governance Structure
151 Corporate Governance Assessment
152 General Meeting of Shareholders (GMS)
162 Board of Commissioners
186 Audit Committee
253
Information Regarding Administrative
Sanctions
254 Information Access and Company’s Public
Data
255 Corporate Code of Conduct
257 Anti Corruption Policy
0606
CORPORATE SOCIAL
RESPONSIBILITY AND
ENVIRONMENT (CSR)
260 Brief Summary of Corporate Social
Responsibility and Environment
261 Corporate Social Responsibility and
Environment Program Implementation
Report
0707 APPENDICES
280 Appendix 1 : Glossary
194 Committee for Nomination and
285 Appendix 2 : List of Abbreviations
Remuneration
199 Committee for Planning and Risk
Evaluation and Monitoring
203 Board of Directors
217 Corporate Secretary
221
Internal Audit Department
226 Internal Control System
229 Risk Management System
246 Whistleblowing System
251 Policy Regarding Reporting Share
Ownership of Directors and Commissioners
252 Employee Stock Ownership Program
289 Appendix 3 : Cross Reference to the Circular
Letter by the Financial Services Authority
No. 16/SEOJK.04/2021
310 Appendix 4 : Affiliate Transactions List
0808 CONSOLIDATED FINANCIAL
STATEMENTS
329 Audited Consolidated Financial Statements
2022 and Audited Financial Statements
2022 for Pusat Pengelolaan Program
Tanggung Jawab Sosial dan Lingkungan
(formerly Program Kemitraan dan Bina
Lingkungan) (Community Development
Center)
FEEDBACK FORM
Annual Report 2022
3
01
HIGHLIGHT
TELKOM
4
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS 01
HIGHLIGHT
TELKOM
6
8
9
Profile of Telkom and Its Subsidiaries
Products and Customers
Infrastructure
10 Operational Areas and Services
12
16
18
Key Financial Data Overview
Stock Information
Information Regarding Obligations, Sukuk
or Convertible Bond
5
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk PROFILE OF TELKOM AND ITS SUBSIDIARIES
PROFILE OF TELKOM
Company Name
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk.
Abbreviated Name
PT Telkom Indonesia (Persero) Tbk.
Commercial Name
Telkom
Business Fields, Type of
Products, and Services
The operation and management of telecommunications networks and services,
informatics as well as the optimalization of the utilization of the Company’s resources.
Corporate Status
Public Company, State-Owned Enterprise
Ownership
Legality
Company
Establishment Date
Legal Basis of
Establishment
52.09% The Government of the Republic of Indonesia
47.91% Public
Tax Identification Number (NPWP) 01.000.013.1-093.000
Trade Business License (SIUP) based on Business Identification Number (NIB) No.
9120304490415
Business Identification Number (NIB) 9120304490415
November 19, 1991
Based on Government Regulation No. 25 of 1991, the status of our Company was
converted into a state-owned limited liability corporation (“Persero”), based on the
Notarial Deed of Imas Fatimah, S.H. No.128 dated September 24, 1991, as approved by
the Ministry of Justice of the Republic of Indonesia by virtue of Decision Letter No. C2
6870.HT.01.01.th.91 dated November 19, 1991 and as announced in the State Gazette of
Republic of Indonesia No. 5 dated January 17, 1992, Supplement to the State Gazette No.
210.
Head Office Address
and Contact
Graha Merah Putih
Jl. Japati No. 1 Bandung
Jawa Barat, Indonesia - 40133
Company Contact
Social Media
Stock Listing
Ticker
Phone
Fax
Call Center
Website
E-mail
Facebook
Instagram
Twitter
YouTube
LinkedIn
: +62-22-4521404
: +62-22-7206757
: +62-21-147
: www.telkom.co.id
: corporate_comm@telkom.co.id
: investor@telkom.co.id
: TelkomIndonesia
: telkomindonesia
: @telkomindonesia
: TelkomIndonesiaOfficial
: Telkom Indonesia
The Company is listed on the Indonesia Stock Exchange (IDX) and New York Stock
Exchange (NYSE) since November 14, 1995
Indonesia Stock Exchange: TLKM
New York Stock Exchange: TLK
Stock Type
Series A Dwiwarna shares and series B shares
Authorized Capital
1 series A Dwiwarna share
389,999,999,999 series B shares
Issued and Fully Paid
Capital
1 series A Dwiwarna share
99,062,216,599 series B shares
Rating
International
Domestic
: Baa1 (stable) from Moody’s
BBB (stable) from Fitch Ratings
: idAAA by Pefindo for 2022
6
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS PROFILE OF SUBSIDIARIES
Telkom is the largest telecommunication company in Indonesia with:
12
25
9
Direct subsidiaries with active operation
Indirect subsidiaries
Affiliated companies
DIRECT SUBSIDIARIES WITH ACTIVE OPERATION:
www.telkomsel.com
www.metra.co.id
www.telkomsat.co.id
PT Telekomunikasi Selular
(Telkomsel) is a cellular operator with
the widest network, reaching more
than 90% of Indonesia’s population,
with its core business comprises
of cellular telecommunications
services and the operation of cellular
telecommunications networks.
PT Multimedia Nusantara (Telkom
Metra) is an investment company
and sub-holding which has expanded
into various basic digital services and
ICT industries through acquisition,
partnership and the construction of a
strong business ecosystem.
PT Telkom Satelit Indonesia
(Telkomsat) is a company with
a satellite business portfolio that
provides end-to-end satellite-based
digital service focusing on customer
needs (customer-oriented).
www.pins.co.id
www.telkomakses.co.id
www.telin.net
PT PINS Indonesia (PINS) is a
company that provides various
technological facilities and equipment,
device integration, networks, systems,
processes, and the Internet of Things
(IoT).
PT Telkom Akses (Telkom Akses)
is engaged in the deployment and
management of fixed broadband
access network infrastructure services,
managed service, and operation
maintenance of fixed broadband
access networks.
PT Telekomunikasi Indonesia
International (Telin) is a global
telecommunications operator that
provides telecommunications & IT
service solutions overseas with 7 active
and operating subsidiaries overseas.
www.mitratel.co.id
www.telkominfra.co.id
www.metranet.co.id
PT Dayamitra Telekomunikasi
(Mitratel) is a company that provides
infrastructure for telecommunication
towers (tower provider) for the
domestic market with a core business
that includes tower construction
and tower management services
(collocation & reseller).
PT Infrastruktur Telekomunikasi
Indonesia (Telkom Infra) is a provider
of domestic and international
telecommunications infrastructure
management services (service and
solution), with the core business of
telecommunications infrastructure
services and submarine cable services.
PT Metranet (Metranet) is an
integrated media and digital content
provider with a core business in online
media, digital content, and digital
billing.
www.telkomproperty.co.id
www.neutradc.com
www.telkomsigma.co.id
PT Graha Sarana Duta (Telkom
Property) is a property service
company that focuses on leveraging
Telkom’s idle assets. Its core business
is property management, property
development, project management,
and facilities management.
PT Telkom Data Ekosistem
(NeutraDC) is a company with a
focus on data center infrastructure
business portfolio with the core
business of collocation provider and
their supporting ecosystem including
managed data center operations, cross
connect, and smart hand.
Note:
A more complete list of subsidiaries can be seen in the Consolidated Financial Statements.
PT Sigma Cipta Caraka (Sigma) is a
consulting service provider company
for hardware, computer software, and
consolidated data center.
7
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk PRODUCTS AND CUSTOMERS
To increase value for customers, Telkom manages business based on customer segments or Customer Facing Units
(CFU) which are categorized into five segments, namely Consumer, Mobile, Enterprise, Wholesale and International
Business, and Others.
CONSUMER
Fixed voice, fixed broadband, IP-TV, and digital
services.
IndiHome Fixed Broadband Subscribers
9.2 million
MOBILE
Cellular legacy services (voice and SMS), mobile
broadband, as well as mobile digital services
including IoT, big data, financial services, VOD,
music, gaming, and digital advertisement.
Cellular Subscribers
156.8 million
Postpaid Subscribers
7.1 million
Prepaid Subscribers
149.7 million
Mobile Broadband Subscribers
120.9 million
ENTERPRISE
ICT and platform
services
that
include
connectivity, IT services and cloud, business
process outsourcing, devices, satellite business,
digital services and adjacent services, such as
e-health services and ATM management.
Corporate
Customers
1,481
SME
Customers
377,894
Government
Institution Customers
934
WHOLESALE AND
INTERNATIONAL
BUSINESS
Domestic and international wholesale traffic,
network, and digital platform and services
as well as tower, data center, and managed
infrastructure and network.
Other Licensed Operator
(OLO) Customers
Transponder & Closed User
Group Customers
7
Internet Service Provider
Customers
321
25
Global Partner
Customers
402
OTHERS
Digital services such as digital platform, digital
content, e-commerce for B2B, and property
management in view to fully utilize Telkom’s
property assets throughout Indonesia.
Digital Music (RBT, music
streaming, and Langit Musik)
50
million active users
Digital Games
27
million paying users
Note:
The data presented on this page is current as of December 31, 2022.
8
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS INFRASTRUCTURE
Telkom and its Subsidiaries continue to develop infrastructure and actualize digitalization empowerment in Indonesia
through Indonesia Cyber Core Program which consists of three components, namely id-Service (“id-SEV”), id-
Convergence (“id-COV”), and id-Network (“id-NET”).
id-Service (“id-SEV”)
Games, Video/TV, education, e-commerce, mobile payment, travel, crowd-sourcing, health
• 4 clusters Application Development Platform infrastructure
• 1 cluster Data Management Platform infrastructure
• 1 cluster Graphical Processing Unit (GPU) Farming infrastructure
• 1 cluster In-memory database infrastructure
• 1 cluster Artificial Intelligent infrastructure
• 2 clusters Big Data Platform infrastructure
id-Convergence (“id-COV”)
Data Center
Security
28 data centers consisting of:
• 5 data centers (overseas)
• 19 data centers neuCentrIX (domestic)
• 3 data centers enterprise tier 3 and 4 (domestic)
• 1 data center Hyperscale tier 3 and 4 (domestic)
Telkom Cloud (T-Cloud)
• Public Cloud: 2 zones, consisting of T-Cloud and
Flou-Cloud
• Hybrid Cloud: 1 zone, Playcourt
• Private Cloud: 1 zone, Telkom Internal Cloud
Internet of Thing (IoT)/Machine to Machine (M2M)
To guard against cyberattacks towards systems
and applications, a Vulnerability Assessment is
conducted on a regular basis for all applications
and network elements that we operate. The
testing process is carried out using Vulnerability
Assessment Tools to ensure the accuracy of the
test results.
Big Data/Artificial Intelligence (AI)
• 1 system full-stack big data platform
• 1 system multimedia data extraction
• Various standalone and embedded AI capabilities
Augmented Reality (AR)/Virtual Reality (VR) 1 system
Payment/Block-chain 3 systems
id-Network (“id-NET”)
Fiber Optic Backbone Network
173,266 km
• 108,566 km domestic fiber optic
• 64,700 km international fiber optic
Point of Presence (PoP)
122 PoP covers:
• 64 PoP in the domestic network
• 58 PoP in the international network
Satellite
2 Satellites with total capacity 109 TPE
• Merah Putih Satellite (60 TPE)
• Telkom 3S (49 TPE)
Mobile Network
265,194 BTS
• 50,158 BTS 2G
• 49,632 BTS 3G
• 165,120 BTS 4G
• 284 BTS 5G
40,588 towers
• 4,693 Telkomsel towers
• 35,418 Mitratel towers
• 477 Telkom towers
Fiber Optic Access Network
• 37 million Homes Passed
• 15.3 million Optical Ports
Wi-Fi
391,317 Access Points
• 136,170 Managed Access Point
• 221,000 Homespot
• 34,147 ONT Premium
Note:
Cluster is a group of integrated infrastructure to support digital services.
9
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
OPERATIONAL AREAS AND SERVICES
7
61
Telkom Regional Offices
Telecommunications areas
387
Plasa Telkom Outlets
11
Malaysia,
Global offices in Australia, Hong
Myanmar,
Kong,
Singapore, Taiwan, Timor-Leste,
Dubai, United States as well as
Global Sales Representative
in
United Kingdom and Philippines
372 GraPARI in Indonesia, including 9
GraPARI TelkomGroup in Jakarta,
Tangerang, Bandung, Medan,
Pinang,
Palembang,
Pematang
Sorong,
Surabaya and 2 GraPARI Lite in
Bukit Tinggi and Bekasi
Pangkal
Siantar,
750
IndiHome Sales Car
Merah Putih
(108 0E)
Telkom-3S
(118 0E)
SEO
TYO
C2C
SHA
HKG
MAC
SHI
TWN
RGN
BKK
HAN
BSW
SG
DUM
BTM
JKT SBYDPS DIL
IGG
APCN-2
SJC
SMPCS
SJ
LAX
SLO
TOR
CHG
NYX
ASH
JUS
UNITY
FASTER
TNG-IA
GUA
HWI
AAG
SP
SHM
AMS
WRS
FRA
SWI
VNA
MLN
SOF
KIV
IST
DUB
MAN
LON
LUX
PRS
MRS
EIG
MDR
LSB
PAL
ALG
CAI
RYD
MOS
DUB
DJI
BBG
IMEWE
SEA-ME-WE 5
SEA-ME-WE 4
10
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS SEA-USPoint of Presence (POP)International Direct Dialing (IDD)Submarine Fiber Optic (SEA-ME-WE 4)Submarine Fiber Optic (SEA-ME-WE 5)Submarine Fiber Optic APCN-2Submarine Fiber Optic EIGSubmarine Fiber Optic SEA - USSubmarine Fiber Optic IGGSubmarine Fiber Optic SMPCSTelekomunikasi Indonesia Internasional (TELIN) 173,266 km Optic Backbone Network
265,194 Mobile Network BTS
122
2
Point of Presence (PoP)
40,588
Towers
Satellites with a total
capacity of 109 TPE
391,317 Wi-Fi Access Point
Merah Putih
(108 0E)
Telkom-3S
(118 0E)
SHM
MOS
DUB
PRS
MAN
LON
LUX
MRS
AMS
WRS
KIV
FRA
SWI
VNA
MLN
SOF
IST
EIG
MDR
LSB
PAL
ALG
CAI
RYD
SEO
TYO
C2C
SHA
HKG
MAC
SHI
TWN
RGN
BKK
HAN
BSW
SG
APCN-2
SJC
SMPCS
DUB
DJI
BBG
IMEWE
SEA-ME-WE 5
SEA-ME-WE 4
DUM
BTM
JKT SBYDPS DIL
IGG
SJ
LAX
SLO
TOR
CHG
NYX
ASH
JUS
UNITY
FASTER
TNG-IA
GUA
HWI
AAG
SP
11
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk SEA-USPoint of Presence (POP)International Direct Dialing (IDD)Submarine Fiber Optic (SEA-ME-WE 4)Submarine Fiber Optic (SEA-ME-WE 5)Submarine Fiber Optic APCN-2Submarine Fiber Optic EIGSubmarine Fiber Optic SEA - USSubmarine Fiber Optic IGGSubmarine Fiber Optic SMPCSTelekomunikasi Indonesia Internasional (TELIN) KEY FINANCIAL DATA OVERVIEW
Consolidated Statements of
Comprehensive Income
(In billions Rupiah except for net
income per share and per ADS which
are represented in Rupiah)
Year ended on December 31
2022
2021
2020
2019
2018
136,462
135,567
130,784
Total revenues
Total expenses*
EBITDA
Operating profit
Profit for the year
147,306
101,569
78,992
39,581
27,680
143,210
99,303
75,723
47,563
33,948
93,274
72,080
43,505
29,563
Profit for the year attributable to:
Owners of the parent company
20,753
24,760
20,804
Non-controlling interest
6,927
Total comprehensive profit for the year
29,447
9,188
35,928
8,759
25,986
Total comprehensive profit for the
year attributable to:
Owners of the parent company
22,468
26,767
Net income per share
Net income per share
Net income per ADS (1 ADS : 100
common stock)
Remark:
*Exclude other income (expense).
6,979
209.49
20,949
9,161
249.94
24,994
17,595
8,391
210.01
21,001
93,913
64,832
42,394
27,592
18,663
8,929
25,400
16,624
8,776
188.40
18,840
93,009
59,181
38,845
26,979
18,032
8,947
31,921
22,844
9,077
182.03
18,203
Consolidated Statement of Financial
Position
(In billions Rupiah)
Assets
Liabilities
Equity attributable to owner of the
parent company
Net working capital (current asset -
current liabilities)
Year ended on December 31
2022
2021
2020
2019
2018
275,192
277,184
246,943
221,208
206,196
125,930
131,785
126,054
103,958
129,258
121,646
102,527
99,561
88,893
98,910
(15,331)
(7,854)
(22,590)
(16,647)
(2,993)
Long-term investment in associates
123
139
192
1,944
2,472
Capital Expenditure
(In billions Rupiah)
Year ended on December 31
2022
2021
2020
2019
2018
Total
34,156
30,341
29,436
36,585
33,620
12
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS
Year ended on December 31
2022
2021
2020
2019
2018
Consolidated Financial and
Operation Ratios
Return on Assets (ROA (%)(1)
Return on Equity (ROE) (%)(2)
Operating Profit Margin (%)(3)
Current Ratio (%)(4)
10.1
18.5
26.9
78.2
Total Liabilities to Equity (%)(5)
84.4
Total Liabilities to Total Assets (%)(6)
45.8
Debt to Equity Ratio(x)(7)
Debt to EBITDA Ratio(x)(8)
0.42
0.80
EBITDA to Interest Expense (x)(9)
19.6
12.2
23.3
33.2
88.6
90.6
47.5
0.48
0.91
17.3
12.0
24.5
31.9
67.3
104.3
51.0
0.54
0.91
15.9
12.5
23.5
31.3
71.5
88.7
47.0
0.44
0.80
15.3
13.1
23.0
29.7
93.5
75.8
43.1
0.38
0.74
16.9
Remarks:
(1) ROA is calculated as profit for the year divided by total assets at year end December 31.
(2) ROE is calculated as profit for the year divided by total equity at year end December 31.
(3) Operating profit margin is calculated as operating profit divided by revenues.
(4) Current ratio is calculated as current assets divided by current liabilities at year end December 31.
(5) Liabilities to equity ratio is calculated as total liabilities divided by total equity at year end December 31.
(6) Liabilities to total assets ratio is calculated as total liabilities divided by total assets at year end December 31.
(7) Debt to equity ratio is calculated as debt (included finance lease) divided by total equity.
(8) Debt to EBITDA ratio is calculated as debt (included finance lease) divided by EBITDA.
(9) EBITDA to interest ratio is calculated as EBITDA divided by cost of funds.
13
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Revenue
(Rp Billion)
EBITDA
(Rp Billion)
147,306
143,210
136,462
135,567
130,784
78,992
75,723
72,080
64,832
59,181
2.9%
yoy
4.3%
yoy
2022
2021
2020
2019
2018
2022
2021
2020
2019
2018
Net Income
Earning per Share
(Rp Billion)
(Rp)
20,753
24,760
20,804
18,663
18,032
209.49
249.94
210.01
188.40
182.03
-16.2%
yoy
-19.3%
yoy
2022
2021
2020
2019
2018
2022
2021
2020
2019
2018
14
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS EBITDA Margin
Net Income Margin
53.6
52.9
52.8
47.8
45.3
60.0
50.0
40.0
60.0
14.1
15.0
10.0
17.3
15.2
13.8
13.8
2022
2021
2020
2019
2018
2022
2021
2020
2019
2018
Profitability Ratio
Leverage Ratio
25.0
23.3
24.5
23.5
23.0
18.5
20.0
10.1
15.0
10.0
5.0
12.2
12.0
12.5
13.1
0.91
0.91
0.80
0.54
0.48
0.42
0.80
0.74
0.44
0.38
1.0
0.8
0.6
0.4
0.2
0.0
2022
2021
2020
2019
2018
2022
2021
2020
2019
2018
Return on Equity (ROE)
Return on Assets (ROA)
Debt to EBITDA Ratio
DEBT to Equity Ratio (DER)
15
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk STOCK INFORMATION
TELKOM’S STOCK INFORMATION AT THE IDX
The following table reports the highest, lowest and closing share prices, trading volumes, number of shares
outstanding, and market capitalization of Telkom’s stock which were recorded at the Indonesia Stock Exchange
(IDX) for the periods indicated.
Calendar Year
Highest
Lowest
Closing
Price Per Share
(In Rupiah)
Volume
(Shares)
Outstanding
Shares
Excluding
Treasury Stock
Market
Capitalization
(Rp Billion)
2018
2019
2020
2021
2022
First quarter
Second quarter
Third quarter
Fourth quarter
First quarter
Second quarter
Third quarter
Fourth quarter
September
October
November
December
4,460
4,500
4,030
4,250
3,640
3,570
3,690
4,250
4,850
4,700
4,850
4,770
4,540
4,650
4,540
4,420
4,040
3,250
3,480
2,450
3,000
3,040
3,130
3,000
3,590
3,570
4,030
3,930
3,840
3,570
4,300
4,200
3,960
3,570
3,750
24,436,003,500
99,062,216,600
3,970
20,656,298,500
99,062,216,600
3,310
34,789,507,100
99,062,216,600
4,040
25,419,078,500
99,062,216,600
3,420
8,170,188,800
99,062,216,600
3,150
5,206,365,000
99,062,216,600
3,690
5,542,524,500
99,062,216,600
4,040
6,500,000,200
99,062,216,600
3,750
29,679,859,500
99,062,216,600
4,580
6,812,010,800
99,062,216,600
4,000
7,780,427,000
99,062,216,600
4,460
7,522,276,500
99,062,216,600
3,750
7,565,145,200
99,062,216,600
4,460
2,273,825,600
99,062,216,600
371,483
393,277
327,896
400,211
338,793
312,046
365,540
400,211
371,483
453,705
396,249
441,817
371,483
441,817
4,390
1,839,863,200
99,062,216,600
434,883
4,040
2,773,125,000
99,062,216,600
3,750
2,952,157,000
99,062,216,600
400,211
371,483
Telkom’s stock price on the last trading day of the IDX, which was December 30, 2022, closed at Rp3,750. At that
price, Telkom’s market capitalization reached Rp371 trillion or 3.91% of the total capitalization of the Indonesia Stock
Exchange (IDX).
5,000
4,000
3,000
2,000
)
p
R
(
e
c
i
r
P
1,000
0
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
2021
2021
2021
2021
2022
2022
2022
2022
)
s
e
r
a
h
S
(
e
m
u
o
V
l
700,000,000
600,000,000
500,000,000
400,000,000
300,000,000
200,000,000
100,000,000
0
16
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS
TELKOM’S AMERICAN DEPOSITORY SHARES (ADS)
INFORMATION AT NYSE
On December 30, 2022, 1 Telkom ADS closed at US$23.85 at New York Stock Exchange (NYSE). The following table
reports the highest, lowest and closing share prices, trading volumes, number of shares outstanding, and market
capitalization of the Telkom ADS which were recorded at New York Stock Exchange (NYSE) for the periods indicated.
Calendar Year
Highest
Lowest
Closing
Volume
(ADS)
Price Per ADS
(In US$)
32.51
31.48
29.37
29.72
25.62
27.46
25.62
29.72
33.21
32.75
33.21
31.95
29.56
30.76
29.56
28.25
25.62
21.75
24.27
16.06
20.44
22.39
21.65
20.44
25.00
23.03
28.38
26.43
26.08
23.03
28.61
26.89
24.96
23.03
26.21
28.50
23.52
28.99
23.64
21.67
25.40
28.99
23.85
31.95
27.04
28.85
23.85
28.85
27.82
25.48
23.85
First quarter
Second quarter
Third quarter
Fourth quarter
First quarter
Second quarter
Third quarter
Fourth quarter
September
October
November
December
2018
2019
2020
2021
2022
)
S
D
A
(
e
m
u
o
V
l
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
2021
2021
2021
2021
2022
2022
2022
2022
98,313,215
58,515,643
69,959,149
59,114,415
14,775,028
19,535,239
14,257,500
10,546,648
69,735,455
18,962,553
15,991,374
16,838,474
17,943,054
5,523,585
5,114,080
5,395,765
7,433,209
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0
)
$
S
U
(
e
c
i
r
P
17
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
CORPORATE ACTION INFORMATION REGARDING STOCKS
During 2022 reporting period, Telkom did not take any corporate actions at IDX or NYSE, such as stock splits, reverse
stock, shares dividend, bonus shares, and decrease in nominal value of shares. Therefore, this report does not contain
information regarding the dates of corporate actions, stock split ratios, reverse stock, stock dividends, bonus shares,
the number and value of shares emitted, changes in the nominal value of shares, the number of shares before and
after corporate action as well as the value of stocks before and after corporate actions.
INFORMATION REGARDING OBLIGATIONS, SUKUK OR
CONVERTIBLE BONDS
Principal
(Rp
million)
Issuance
Date
Maturity
Date
Term
(Years)
Interest
Rate per
Annum
(%)
2,200,000 June 23,
2015
June 23,
2022
7
9.93
2,100,000 June 23,
2015
June 23,
2025
10
10.25
1,200,000 June 23,
2015
June 23,
2030
15
10.60
1,500,000 June 23,
2015
June 23,
2045
30
11.00
Rating
(Pefindo)
idAAA
Underwriter
Trustee
PT Bank
Permata
Tbk
PT Bahana
Sekuritas;
PT BRI
Danareksa
Sekuritas;
PT Mandiri
Sekuritas;
PT Trimegah
Sekuritas
Indonesia
Tbk
Bonds
Telkom Shelf
Registered
Bond I 2015
Series A*
Telkom Shelf
Registered
Bond I 2015
Series B
Telkom Shelf
Registered
Bond I 2015
Series C
Telkom Shelf
Registered
Bond I 2015
Series D
Remark:
* Bonds principal has been paid in a timely manner according to applicable regulation and has been submitted to the public by letter number Tel.66/LP000/
DCI-M200000/2022 to President Director of PT Bursa Efek Indonesia.
18
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 01 TELKOM HIGHLIGHTS KALEIDOSKOP 2022
Together with Telkom to Boost
Indonesia's Digital Transformation
FEBRUARY
• With a focus on accelerating digital inclusion, Telkom was
elected Chairman of the B20 Indonesia TF Digitalization.
• Agreed to support the digitalization of Agricultural PMO.
• Digitalization of SMEs mentored by Telkom in Lampung.
2
JANUARY
• Sinergy between Finnet and Posfin to
promote financial inclusion in Indonesia.
• Smart Government Digitalization in Medan,
North Sumatera.
.
1
• Telkom launched the Pijar Camp
Scholarship program to prepare Indonesia
digital talents.
9.2 Million
IndiHome
Subscribers
96% Coverage
156.8 Million
Telkomsel
Subscribers
99% Coverage
28 Data
Centers
Domestic and
overseas, including
tier 3 and 4
DIGITAL
CONNECTIVITY
DIGITAL
PLATFORM
DIGITAL
SERVICE
173,266 km
Fiber Optics
265,194 Unit
Telkomsel Base
Transceiver Station
35,418 Mitratel
Tower
Numerous
Digital
Services
MARCH
• To reinforce the international infrastructure, Telin joined the
SEA-ME-WE 6 consortium to build a 19,200 km-long
submarine cable system.
• Minister of State-Owned Enterprises launched Leap - Telkom
Digital to accelerate Indonesia's digital transformation.
• Telkom provided the ICT infrastructure throughout the
3
Mandalika MotoGP Series.
APRIL
• Expanding its market to the Middle East,
Telkom opened its 11th international
representative office in Dubai, United
Arab Emirates.
• Joined the “Proudly Made in Indonesian”
movement for MSMEs in West Sumatera.
• Strategic alliance between Telkom and
Singtel for a Regional Data Center.
• Strategic partnership between Telkom
and Microsoft to drive Indonesia's digital
acceleration and intelligent
infrastructure.
4
MAY
• Telkom reinforced Telkomsigma to fulfill the needs
of the Cloud and IT Services market in Indonesia.
• Pijar Sekolah to help Middle and High Schools in
Tarutung.
5
• Telkom AGM for the Year 2021 distributed dividends
to the value of Rp14,86 trillion.
JUNE
• Telkomsat obtained Starlink docking rights from Kominfo to push equitable
access to the internet throughout Indonesia.
• Telkom unveiled its smart city solutions at London Tech Week 2022.
• To reinforce connectivity in Eastern Indonesia, Telkom built the Bifrost
Jakarta - Balikpapan - Manado – America submarine cable communication
system (SKKL).
6
• Digitalizing education for SLBN special needs schools.
.
JULY
• Celebrating 57 Years of Telkom Indonesia “Digital Bisa untuk Semua” (Digital is
accessible to all).
• Launched the Second Gateway Manado, a digital toll gate in Eastern Indonesia.
• Telkom supported the infrastructure and services at the 2022 ASEAN Para Games XI.
• Telkom donated and distributed 900 Qurban animals on Eid al-Adha 1443H.
7
AUGUST
• Inauguration of neuCentrIX Sepaku and Digital Community Center at Ibu Kota Nusantara.
• An international alliance between ITDRI and the Massachusetts Institute of Technology.
• Indigo Demo Day 2022, a meet up for startups mentored by Telkom with venture
capitalists.
8
SEPTEMBER
• A strategic partnership between Telin and Expereo in regard to SD-WAN cloud solutions.
• Telkom’s strategic alliance with Amazon Web Services provides cloud computing solutions for
digital industry players.
• Batic 2022 strengthens the Indo-Pacific connectivity ecosystem to become a Regional Digital Hub.
9
10
.
OCTOBER
• Digital Innovation Learning School for digitalization in education in the 3T area.
• Business matching, investor talk, and corporate day at the SOE International Conference 2022.
• Tourism Collaborative Platform, a collaboration between Telkom dan Injourney to digitize
the tourism ecosystem.
NOVEMBER
• TelkomGroup provided first-rate infrastructure during the peak of the 2022 G20 Summit.
• Formed a strategic alliance with global tech giants during the 2022 B20 Summit (Google
and Indosat Ooredo Hutchitson).
• TelkomGroup matched investors with Indonesian startups, generating US$399 million in
11
funding.
• Recycling and upcycling electronic waste through the Eduvice Program.
DECEMBER
• Telkom formed a strategic partnership with Cisco regarding IoT Control Center and
SDN for the growth of Industry 4.0 in Indonesia.
• Groundbreaking NeutraDC Hyperscale Data Center in Batam.
.
.
• TelkomGroup Siaga NARU 2022/2023.
12
Financial
Performance
(Year 2022)
Revenue
Rp147.31 trillion
(+2.9% YoY)
EBITDA
Rp78.99 trillion
(+4.3% YoY)
Net Profit
Rp20.75 trillion
(-16.2% YoY)
Best 3: Press Release and Website Category
Anugerah Media Humas 2022
Large Business Category
19
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
02
REPORT OF THE
BOARD OF
COMMISSIONERS
AND DIRECTORS
20
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 02
REPORT OF THE
BOARD OF
COMMISSIONERS
AND DIRECTORS
22 Report of the Board of Commissioners
28 Report of the Board of Directors
34
Statement Letter of Responsibility for 2022
Annual Report
21
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 REPORT OF THE BOARD OF COMMISSIONERS
“
The Board of Commissioners considers that the Board of Directors has carried out
the management of the Company in a good manner and has successfully recorded
positive financial and operational performances amid the COVID-19 pandemic,
which hadn’t yet been mitigated in 2022. We have also observed that Telkom’s digital
transformations, which focused on the development of digital connectivity, digital
platforms, and digital services, are progressing well.
”
Dear Respected Shareholder and all Stakeholders,
As a telecommunications company, we will continue
Let us offer praise and gratitude to God Almighty as with
customers. In 2022, we saw a significant shift towards
His blessing PT Telkom Indonesia (Persero) Tbk (Telkom or
digitalization, with ever more customers relying on our
the Company) successfully saw through 2022 by recording
service for work, education and entertainment. We have
an upstanding performance.
responded to this trend by widening our network reach
to innovate and offer reliable digital services for our
GENERAL OUTLOOK REGARDING MACRO-ECONOMY
AND THE INDUSTRY
SUPERVISION AND ASSESSMENT OF THE BOARD OF
and through the introduction of new services.
DIRECTORS’ PERFORMANCE IN 2022
Indonesia’s GDP grew by around 5.31% in 2022. The
country’s economy remained resilient as it was supported
Overall, we have assessed that throughout 2022 the
by the Government’s strong expenditure on infrastructure
Board of Directors had carried out
its duties and
projects,
improving consumer
spending, and
its
functions in managing the company in a good manner.
investments in various business sectors. However, we also
The Board of Directors had prepared a work plan and
faced challenges due to rising inflation, which peaked in
had implemented the appropriate strategies to attain
September 2022 at 5.51%. This put pressure on consumer
the Company’s strategic targets in accordance with
spending and affected our business operations.
its purpose, vision and mission. Moreover, the Board of
Directors had also been able to maintain the Company’s
The IMF has predicted a global economic growth rate of
technological leadership in the industry, made effective
around 2.9% for 2023, driven by a continued recovery from
and efficient investments, developed its talents and
the COVID-19 pandemic. This growth is expected to be
digital capabilities as well as achieving a good balance
uneven as some countries face greater challenges than
between economic values and social aspects. We thus see
others. Geopolitical tensions, climate change, and supply
the results in the achievement of a very good growth in
chain disruptions are factors that could affect global
the Company’s Revenue and EBITDA for 2022. From the
economic growth in 2023. With regards to Indonesia, the
operational perspective, the Company also recorded a
IMF is predicting continued growth of Indonesia’s economy
solid performance growth owing to the rise in the number
in 2023, with a growth rate of around 5.0%. This is supported
of IndiHome fixed broadband subscribers and an increase
by a strong domestic demand and the Government’s
in data traffic on cellular services. A positive performance
expenditures on its infrastructure projects. However, this
of the Company’s financial and operational aspects has
country still faces challenges such as rising inflation as well
further strengthened Telkom’s position as the market
as potential uncertainties in the global economy.
leader in the Indonesian telecommunications industry.
22
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022
A positive performance of the Company’s financial
and operational aspects has further strengthened
Telkom’s position as the market leader in the
Indonesian telecommunications industry.
Bambang Permadi Soemantri Brodjonegoro
President Commissioner/Independent Commissioner
23
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 “The Board of
Commissioners is of the
opinion that the growth
of Telkom’s business
prospects going forward
is well assured. Through
the development and
strengthening of its
digital connectivity,
digital platforms, and
digital services, in the
future the Company will
have excellent resources
to secure various
opportunities as well as
grow in a sustainable
manner. We believe that
the Company will be able
to maintain its market
Telkom always ensures the best and
Board of Commissioners Directors;
widest digital connectivity for the
Committee Meetings,
in which
community by strengthening
its
the Board of Commissioners is a
infrastructure capabilities through
member of the Committee; and
its backbone and optical fiber-based
Internal Meetings of the Board of
access networks, as well as its Base
Commissioners for which the Board
Transceiver Stations (BTS) fitted with
of Directors is invited to join.
the latest technology. The Company
also develops both cloud and data
VIEWS ON BUSINESS PROSPECTS
centers, as well as security and data
analytics to further strengthen digital
The Board of Commissioners
is
platforms. Furthermore, Telkom also
develops various digital services to
of the opinion that the growth of
Telkom’s business prospects going
provide digital solutions with the
forward is well assured. Through the
best experience for customers. We
development and
strengthening
consider that all of these were carried
of
its digital connectivity, digital
out
to
increase
the Company’s
platforms, and digital services,
in
competitiveness
and
create
the future the Company will have
competitive and sustainable growth
excellent resources to secure various
in the future.
opportunities as well as grow in a
sustainable manner. We believe
FREQUENCY AND METHODS USED
that the Company will be able
TO PROVIDE GUIDANCE TO THE
to maintain
its market position,
BOARD OF DIRECTORS
especially as Telkom continues to
invest in increasing its capacity and
The Board
of Commissioners
capabilities to provide the best digital
regularly provides advice to the
experience for all its customers.
position, especially as
Board of Directors, both in writing
Telkom continues to invest
in increasing its capacity
and capabilities to provide
the best digital experience
for all its customers.”
and verbally. In writing, the Board of
Future
growth
opportunities
Commissioners’
recommendations
include IndiHome’s fixed broadband
is provided
in
letter
form or
services, mobile digital business
through a Decision of the Board
services, enterprise solutions services,
of Commissioners. Verbal advice is
data centers and the provision of
delivered directly during the Board
telecommunication towers. Telkom
of Commissioners’ meetings which
is
in prime position to capture
consists of: Joint Meetings between
diverse opportunities in the future,
the Board of Commissioners and the
supported by the reach, capacity
and capabilities of a comprehensive,
reliable and integrated infrastructure.
24
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 From Left to Right:
Rizal Mallarangeng (Commissioner), Bono Daru Adji (Independent Commissioner), Abdi Negara Nurdin (Independent
Commissioner), Wawan Iriawan (Independent Commissioner), Bambang Permadi Soemantri Brodjonegoro (President
Commissioner/Independent Commissioner), Marcelino Rumambo Pandin (Commissioner), Isa Rachmatarwata
(Commissioner), Ismail (Commissioner), Arya Mahendra Sinulingga (Commissioner).
25
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 Moreover, the Board of Commissioners also supports the
the selection of strategic positions within the Company
efforts by the Board of Directors to explore additional
and its subsidiaries; as well as the remuneration of the
opportunities to increase the value of the Company, such
Board of Directors. The Planning and Risk Evaluation
as: the selective and prudent implementation of inorganic
and Monitoring Committee provided recommendations
activities; the exploration of revenue from assets that
regarding the strategic and risk management aspects
have not been optimally valued; and the development of
of the Company. It also conducted a comprehensive
startups with the hope that these will have greater value
evaluation of the Board of Directors’ proposals regarding
or generate synergetic value in the future.
the Company’s Long-Term Plan, the Implementation
ASSESSMENT OF THE PERFORMANCE
Company’s Budget Activity Plan and monitored their
Strategy Document (Mid-Term Plan), as well as the
OF COMMITTEES UNDER THE BOARD OF
COMMISSIONERS
implementation.
VIEWS ON THE IMPLEMENTATION OF GOOD
In carrying out its supervisory function of the Company,
CORPORATE GOVERNANCE
Telkom’s Board of Commissioners is assisted by three
committees: the Audit Committee; the Nomination and
Corporate governance is one of the supervisory focuses
Remuneration Committee (KNR); and the Planning and
of the Board of Commissioners. We are committed to
Risk Evaluation and Monitoring Committee (KEMPR). In
ensuring the implementation of a high standard of
our view, the three Committees have carried out their
governance across the TelkomGroup, in accordance with
duties effectively in accordance with their roles. Each
the principles of Good Corporate Governance (GCG) and
Committee carried out studies, made recommendations
by upholding the core values of AKHLAK. Throughout
and gave their full support to the Board of Commissioners
2022, the Board of Commissioners actively supervised
so that the oversight mechanism of the Board of Directors
and provided recommendations on various aspects of
could run effortlessly.
company management, including risk management.
Amongst its other tasks, the Audit Committee assisted
One of the governance practices that has been functioning
us in supervising and conducting reviews of financial
effectively is the implementation of the Whistleblowing
information that will be submitted to the public, as well
System (WBS). The Board of Commissioners continues
as examining complaints related to the accounting
to encourage a regular
improvement. Through this
and financial reporting processes. The Nomination and
mechanism, the Company can identify and minimize the
Remuneration Committee provided diverse and crucial
potential for fraud as well as policy deviations or internal
recommendations related to policies; criteria for and
violations.
26
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 APPRECIATION TO STAKEHOLDERS AND CLOSING
On behalf of the Board of Commissioners, we would like
to thank all the Directors, management, and employees
who have wholeheartedly contributed to manage
TelkomGroup’s business activities. Furthermore, we would
also like to give our appreciation to all our stakeholders
who have given their full support to Telkom in an effort to
achieve the Company’s purpose, vision and mission.
Through a good collaboration between stakeholders, we
believe that Telkom will continue to grow in a sustainable
manner and play an important role in supporting the
progress of the Nation henceforward.
Jakarta, April 5, 2023
On behalf of the Board of Commissioners,
Bambang Permadi Soemantri Brodjonegoro
President Commissioner /Independent Commissioner
27
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 REPORT OF THE BOARD OF DIRECTORS
“
In 2022, Telkom increasingly focused on strengthening its business fundamentals and
successfully saw through the COVID-19 pandemic. We have consistently invested for
the future to create growth opportunities through our three business pillars: Digital
Connectivity, Digital Platform, dan Digital Services.
”
Esteemed Shareholders, Board of Commissioners, and all
stakeholders,
We are confident that economic conditions will continue
to improve alongside COVID-19’s mitigation and people’s
increasing mobility. We are also predicting that post-
We give thanks and gratitude to God Almighty for His
pandemic, people will maintain the online practices they
infinite blessings, thus enabling PT Telkom Indonesia
had adopted during the pandemic. We will thus continue
(Persero) Tbk (“Telkom” or “Company”) to masterfully
to strengthen our digital infrastruture and develop various
navigate the challenging 2022 period. On this occasion,
allow us to present a summary of the various efforts
platforms and digital solutions accordingly to realize the
Company’s vision to be the community’s ‘digital telco of
and achievements that we have successfully attained
choice’.
throughout 2022.
ECONOMIC AND INDUSTRY CONDITIONS
TARGETS
PERFORMANCE ACHIEVEMENTS COMPARED TO
In general, the COVID-19 pandemic still remained the
Telkom posted a revenue of Rp147.31 trillion in 2022, or a
primary challenge for businesses
in
Indonesia. The
growth of 2.9% compared to the previous year. In terms
emergence of new variants in mid-2021 led to the
of profitability, Telkom’s recorded EBITDA was Rp78.99
pandemic’s second wave, which put great pressure on
trillion or an increase of 3.7% with a Net Profit of Rp20.75
the national economy. However, the Government’s quick
trillion or a decline of 16.2%. If we do not factor in the
and precise measures, including the implementation of
impact of GOTO’s unrealized loss, Telkom was able to
Community Activities Restrictions Enforcement (PPKM)
record an operational net profit of Rp25.85 trillion, or a
were very effective in controlling the pandemic whilst
growth of 7.7% compared to the 2021 period even though
gradually restoring the economy. The Statistics Indonesia
the revenue attainment was slightly below our target or
recorded that in 2022 the Indonesian economy grew by
97.8% of the target.
5.31%, better than that of 2021 which was at 3.69%.
In the Mobile segment, Telkomsel was able to maintain its
Meanwhile, the Rupiah exchange rate against the
position as the leading cellular operator in Indonesia with
USD fluctuated throughout 2022. The Bank Indonesia
156.8 million customers, of which 120.9 million are mobile
transaction rate on January 3, 2022 was Rp14,270 per USD
and closed at Rp15,592 per USD on December 31, 2022.
data users. Telkomsel’s revenue for 2022 was recorded
at Rp85.49 Trillion or an increase of 1.5%. The Mobile
The 2022 inflation rate, another key macro indicator, was
segment’s performance was 96.5% of the set target. The
relatively high at 5.51%. This high inflation rate provided
Digital Business’ revenue contribution increased to 81.9%
space for Bank Indonesia (BI 7 Days Repo Rate) to raise
of Telkomsel’s total revenue, in comparison to the previous
its benchmark interest rate from 3.50% in January 2022 to
year’s 77.9%. The growth of the Digital Business was
5.50% in December 2022.
supported by a 7.5% revenue growth from Data that was
driven by a 18.7% increase in data traffic (Data Payload).
Meanwhile, revenue from the Legacy Business decreased
by 16.4% alongside with the trending shift from voice and
SMS to data.
28
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 In 2022, Telkom recorded a positive performance
with Revenue and EBITDA growth compared to
the previous year.
Ririek Adriansyah
President Director
29
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 “We believe that
henceforward
Telkom will continue to
have excellent business
prospects
and growth, as the three
business pillars (digital
connectivity, digital
platform, and digital
In the Consumer segment, IndiHome
In addition to these four segments,
continues to be the country’s market
Telkom
also manages
other
leader
for fixed broadband by
segments. Telkom has recorded a
securing 75.2% of the market. The
growth of 16.6% for these segments.
number of IndiHome subscribers at
The contributions of these segments
the end of 2022 reached 9.2 million
towards
Telkom’s
consolidated
customers, an increase of 611.000 new
revenue
is still relatively
low, but
customers compared to the previous
they show high growth through
year. As a result, the Consumer
various
initiatives
in developing
segment’s
revenue
increased
and providing of a variety of digital
significantly by 5.7% to Rp26.354
services for both B2B and B2C.
trillion, a substantial contribution
to the increase of the consolidated
OVERVIEW OF BUSINESS
services) are increasingly
revenue. The Consumer segment’s
PROSPECTS
relevant to the needs and
demands of consumers.”
revenue performance reached 96.9%
of the set target.
Amid ongoing conditions due to
the COVID-19 pandemic, Telkom
The
Enterprise
segment’s
continues
to
create
growth
performance
in 2022 was quite
opportunities
through
three
good amid the pressures from the
business pillars: Digital Connectivity,
COVID-19 pandemic. Revenue from
Digital Platform and Digital Services.
this segment reached Rp19.16 trillion
Strengthening
the
Company’s
or a 0.1% growth compared to the
position as the market leader in the
previous period. This performance
domain of digital connectivity is an
reach 97.8% of the previously set
important endeavor that Telkom
target.
undertakes through the consistent
strengthening of its network to deliver
Meanwhile,
the Wholesale and
quality broadband services with the
International Business (WIB) segment
widest coverage
in
Indonesia for
recorded a revenue of Rp15.44 trillion,
both mobile and fixed. Additionally,
or an 8.3% growth compared to the
Telkom
is
increasing the capacity
previous year which was Rp14.26
and capabilities of the data center
trillion. This segment’s performance
and cloud business lines as well as
reached 104.3% of the target set at
various other digital platforms such
the beginning of the year.
as data analytics and security which
30
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 are also enablers for the creation of various digital service
a complete digital
infrastructure, Telkom
is
in pole
solutions according to customer needs. We believe that
position to seize various business opportunities and grow
in the future Telkom will continue to have good business
together with corporations as well as small and medium
and growth prospects, as the three business pillars are
businesses in Indonesia. Meanwhile, with regards to the
increasingly relevant to consumer needs and demands.
Wholesale & International Business segment, Telkom
is focusing on increasing business towers, data centers
In its effort to give the best experience for its Mobile
and infrastructure managed services to strengthen its
segment customers, Telkom commits to continuously
position as a supportive partner in the digital ecosystem
innovate as well as implement up-to-date and cutting-
for domestic and global content providers.
edge technology. We have begun to gradually implement
5G technology since 2021 through our subsidiary
Additionally, through MDI, Telkom also carries out digital
Telkomsel. Going forward, in line with the development
of the ecosystem and various use cases, we are confident
initiatives through its investments in various start-ups in
sectors that are in line with the company’s strategy and
that 5G technology will offer new opportunities for growth.
that have good future potential synergies and valuations.
Telkomsel also carries out digital
initiatives through
We hope that in the future some these start-ups can make
separate entities in order to have the competitiveness and
significant contributions to the Company, either through
agility to develop digital services according to the needs
business synergies or through increasing valuations as
of the community, such as in the health, education and
these start-ups mature.
lifestyle sectors.
We are also in the process of increasing the capacity of
In the Consumer segment, we believe there is still wide
our data centers as well as consolidating their assets as we
room for growth as the penetration of fixed broadband in
hope to be able to unlock the data center business in the
Indonesia is relatively low, under 20% of the total number of
future. The strategy is expected to increase the corporate
existing households. We have observed that people’s daily
value as we had previously done with the tower business.
activities are increasingly carried out at home with the
support of high-quality internet whether for work, study,
Telkom believes that the convergence of the fixed and
shopping, entertainment, and even entrepreneurism.
mobile businesses (fixed mobile convergence)
is a
Through IndiHome, Telkom will maintain the momentum
necessity. To achieve this, we have created a roadmap
to create a digital environment, build a digital society, and
with the aim of providing a better customer experience,
accelerate the digital economy.
a more effective allocation of capital expenditure (CAPEX)
The Enterprise segment’s business prospects are quite
good, in line with the revitalization of the business
Telkom is always open to establishing partnerships with
sector following the alleviation of pandemic conditions
other parties, in order to accelerate the increase in digital
and especially during the post-pandemic period. With
capabilities or to get investors who have the vision to
its variety of enterprise solutions and supported by
jointly seize growth opportunities and create higher value.
and creating better data integration.
31
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 From Left to Right:
Muhamad Fajrin Rasyid (Director of Digital Business), Herlan Wijanarko (Director of Network & IT Solution), FM Venusiana R
(Director of Consumer Service and Acting (PLT) Director of Enterprise & Business Service), Ririek Adriansyah (President
Director), Heri Supriadi (Director of Finance & Risk Management), Budi Setyawan Wijaya (Director of Strategic Portfolio),
Bogi Witjaksono (Director of Wholesale & International Service), Afriwandi (Director of Human Capital Management).
32
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 PROGRAM AND PERFORMANCE GOALS FOR 2023
IMPLEMENTATION OF GOOD CORPORATE
To capture the various growth opportunities we have
GOVERNANCE
described above, Telkom has planned a strategic program
TelkomGroup continuously upholds the implementation
for 2023 with the theme ‘Enhance Digital Capability and
of good governance in accordance with the principles of
Business Performance for Sustainable Growth’. The main
Good Corporate Governance (GCG) and with reference to
programs to be carried out are:
the eight principles of company management as well as
1. Deliver the best quality of service with excellent
with the Financial Services Authority’s (OJK) Corporate
customer experience: whereby service quality and
Governance Guideline for Public Companies. We are
customer experience management are key in gaining
confident that good governance is a primary aspect that
customer loyalty.
will help ensure the company’s long-term sustainability.
2. Excel in the 3 digital domains and unlock business
Telkom’s implementation of GCG aims to support the
leveraging group synergy: to deal with the dynamics
realization of the Company’s purpose, vision and mission,
of a telecommunications industry that is constantly
which will ultimately provide added value and benefits for
in movement, an integrated telco is required and can
shareholders and other stakeholders.
be achieved by delayering to reach a wider customer
segment and increase the Company’s value.
Throughout 2022, we continuously strive to strengthen
3. Accelerate digitalization and a
lean organization
various sectors that we consider significant, including the
development for impactful operations: Telkom will
reinforcing of our organization as well as the competence
continue to accelerate the
improvements to
its
of our Internal Audit in order to improve oversight within
operating and business models to become leaner.
the company.
SUPPORTING DIGITALIZATION FOR A BETTER FUTURE
CLOSING
We believe that the digitalization of various fields is a
In closing, on behalf of the Board of Directors of PT Telkom
very good opportunity for Indonesia. It will enable the
Indonesia (Persero), I would like to express our gratidue
country to make a leap and stand on an equal footing
and great appreciation for all our shareholders, the Board
with other developed countries. Advances in education,
of Commissioners, loyal customers, business partners, the
health, finance and other sectors can be achieved faster
media, the general public and all other stakeholders for
and cheaper through various digital platforms. For
the support given to Telkom throughout 2022. I would
this reason, the need for extensive and quality digital
also like to thank the management and all TelkomGroup
connectivity infrastructure, a capable digital platform,
employees for their dedication and contributions in
and diverse digital services meeting the needs of the
carrying out their duties and responsibilities as well as
community is very important. Telkom has the resources
their support in attaining Telkom’s purpose, vision, mission
required as well as the passion to help all levels of the
and work program throughout 2022.
society benefit from the digital era. Our efforts to continue
investing on strengthening the digital connectivity, digital
Henceforward, may we continue to innovate without stop
platforms and digital services business lines are a solid
in this digital era that promises many opportunities, so
manifestation of Telkom’s contributions in the creation
that Telkom can consistently grow well and sustainably.
of a digital environment, building a digital society, and
accelerating the digital economy, considering that digital
Jakarta, April 5, 2023
literacy and skills are one of the main assets for Indonesia
to achieve its aspirations to become a developed country.
On behalf of the Board of Director
Ririek Adriansyah
President Director
33
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 STATEMENT OF THE MEMBER OF BOARD OF COMMISSIONERS
REGARDING WITH RESPONSIBILITY FOR
PT TELKOM INDONESIA (PERSERO) TBK 2022 ANNUAL REPORT
We the undersigned hereby declare that all the information in the PT Telkom Indonesia (Persero) Tbk
2022 Annual Report has been presented in its entirety and that we assume full responsibility
for the accuracy of the content of the Company’s Annual Report.
This statement is made in all truthfulness.
Jakarta, April 5, 2023
Board of Commissioners
Bambang Permadi Soemantri Brodjonegoro
President Commissioner/Independent Commissioner
Wawan Iriawan
Independent Commissioner
Bono Daru Adji
Independent Commissioner
Abdi Negara Nurdin
Independent Commissioner
Ismail
Commissioner
Marcelino Rumambo Pandin
Commissioner
Rizal Mallarangeng
Commissioner
Isa Rachmatarwata
Commissioner
Arya Mahendra Sinulingga
Commissioner
34
PT Telkom Indonesia (Persero) TbkChapter 02 REPORT OF THE BOARD OF COMMISSIONERS AND DIRECTORSAnnual Report 2022 STATEMENT OF THE MEMBER OF BOARD OF DIRECTORS
REGARDING WITH RESPONSIBILITY FOR
PT TELKOM INDONESIA (PERSERO) TBK 2022 ANNUAL REPORT
We the undersigned hereby declare that all the information in the PT Telkom Indonesia (Persero) Tbk
2022 Annual Report has been presented in its entirety and that we assume full responsibility
for the accuracy of the content of the Company’s Annual Report.
This statement is made in all truthfulness
Jakarta, April 5, 2023
Board of Directors
Ririek Adriansyah
President Director
Heri Supriadi
Director of Finance & Risk
Management
FM Venusiana R
Director of Consumer Service and
Acting (PLT) Director of Enterprise &
Business Service
Herlan Wijanarko
Director of Network & IT Solution
Bogi Witjaksono
Director of Wholesale & International
Service
Budi Setyawan Wijaya
Director of Strategic Portfolio
Afriwandi
Director of Human Capital
Management
Muhamad Fajrin Rasyid
Director of Digital Business
35
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 03
ABOUT
TELKOM
36
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 03
ABOUT
TELKOM
38 Purpose, Vision, Mission, and Strategy
42 Corporate Culture and Value
44 Telkom Milestones
46 Business Activities
48
50
Telkom Organizational Structure
List of Industry Association Memberships
52 Profile of the Board of Commissioners
58 Profile of the Board of Directors
64 Profile of the Senior Vice President
66
70
72
Telkom Employees
Shareholders Composition
Subsidiaries, Associated Companies, and
Joint Ventures
78 Chronology of Stocks Registration
80 Chronology of Other Securities Registration
82 Name and Address of Institutions and/or
Supporting Capital Market Profession
37
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 PURPOSE, VISION, MISSION, AND STRATEGY
Telkom determines the purpose, vision, mission, strategy, and corporate culture listed in the long-
term plan and approved by the Board of Commissioners and Directors on December 9, 2019. This
is done to support national digitalization and internalize the transformation agenda.
Purpose
To build a more prosperous and
competitive nation as well as deliver the
best value to our stakeholders.
To be the most preferred
digital telco to empower
the society.
Vision
Mission
1. Advance
rapid buildout of
sustainable
intelligent digital
infrastructure and platforms that is affordable and accessible to all.
2. Nurture best-in-class digital talent that helps develop nation’s digital
capabilities and increase digital adoption.
3. Orchestrate digital ecosystem to deliver superior customer
experience.
38
38
Annual Report 2022
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 Strategy
Telkom conceives its strategic framework into a portfolio direction strategy that includes the development
of 3 (three) digital business domains, namely digital connectivity, digital platforms, and digital services.
The portfolio direction strategy in the business domain is supported by a value delivery model strategy
that includes portfolio optimization strategies, technology, organization, synergy and operational
excellence, talent management and corporate culture, inorganic initiatives, and corporate governance.
In broad lines, Telkom’s long-term strategy is contained in the acronym of WINDIGITAL, which includes:
W
Win broadband
connectivity business to
maximize cash flow
I
N
Invest to scale DC and be
The National B2B Digital
Leader to Maximize Value
Nurture Digital Service
Ecosystem through Smart
Investment to Maximize
Synergy Value and Value
Creation
DD
Drive continuous and strict
optimization of business and
asset portfolio
II
Increase group technology
integration and digitization
GG
Gear up for streamlined lean
digital-ready organization
II
TT
AA
LL
Improve operation quality and
synergy for cost leadership and
better customer experience
Transform to digital telco talents
and incorporate digital culture
Acquire digital capabilities
inorganically and accelerate
ecosystem partnership
Link up group strategic
planning and implementation
and enhance risk management
and compliance
Annual Report 2022
39
39
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 Transformation For Digital Acceleration
In 2022, we will enter the next normal era, where
2. Excel in the 3 digital domains and unlock business
the digital economy will develop more rapidly with
leveraging group synergy
increasingly demanding customer expectations. This
The dynamics of
telecommunication
industry
encourages an increasingly dynamic competitive
continues to move and several integrated telco are
situation accompanied by the acceleration of various
implementing a delayering strategy in order to reach
product and service innovations. On the other hand,
a wider customer segment and increase corporate
Indonesian market, which is still growing, remains
value. We will continue to strengthen our position
attractive for global player and technology giant to
and competitive advantage in the domain of digital
enter into domestic market. We answer this challenge
connectivity, digital platform, and digital services,
through the Company’s journey, namely Investing
supported by business unlocking
initiatives and
for Future. We focus on strengthening essential
utilization of all potential synergies. We also manage
competencies
in digital domain, supported by
operations and services in a customer-centric manner,
corporate restructuring and partnership development
efficient
infrastructure, and digital businesses as
while
improving
the
company’s
business
growth engines simultaneously.
fundamentals. To accelerate the transformation
3. Accelerate digitization and
lean organization
towards a digital telco company, our corporate theme
development for impactful operation
for 2022 is “Enhance digital capability and business
We continue to accelerate improvements to our
performance for sustainable growth” with three
operating and business models to become leaner by
main programs, namely:
utilizing digital technology and artificial intelligence.
We also ensure the readiness of various supporting
talents, especially digital talent so that the company’s
growth milestones can take place at the right
momentum.
1. Deliver the best quality of services with
excellent customer experience
In the next normal era, service quality and
customer experience management are the main
keys to gaining customer loyalty. We strive to
comprehensively understand customer needs and
behavior. Furthermore, we also manage customer
data in a systematic and sustainable manner by
maximizing the implementation of data analytics
at every stage of the customer journey.
40
Annual Report 2022
Annual Report 2022
We have also initiated a value unlocking strategy which
3. Data Center Co (DC Co)
we refer to as the five big programs (five bold moves)
We are in the process of consolidating data center
to build competitive advantage in the fields of digital
asset and increasing data center business capacity.
connectivity, digital platform, and digital services, as well
In addition, we also collaborate with hyper-scaler and
as strengthen our position to become a world-class digital
technology giant to accelerate data center business
telecommunications company, with long-term goals to
growth and expand our data center presence in the
create higher value for the Company’s stakeholders. The
region – starting from Indonesia and ASEAN.
five big programs (five bold moves) consist of:
4. B2B Digital IT Service Co
1. Fixed Mobile Convergence (FMC)
We continue to strengthen market penetration, cost
efficiency, and operational excellence, while enhancing
the best customer experience by developing our
technology and services to optimize interoperability
between our fixed and mobile networks to enable
customers to switch seamlessly regardless of location
and device.
2. InfraCo
We seek to unlock the consolidation potential of our
infrastructure asset, including optical access network
infrastructure and tower so as to create higher value.
We believe this initiative will provide benefits, including
optimal asset utilization, cost-effective connectivity, and
accelerated market penetration so that in the end it will
be able to increase the value of infrastructure asset and
attract investors to join.
We are transforming towards B2B Digital
IT
Services through partnership and collaboration
with technology giant, such as Microsoft and AWS.
Furthermore, we are preparing Telkomsigma to
become a leading B2B Digital IT Service player
serving the corporate market, SOE, government,
and MSME.
5. DigiCo
We are developing a digital company (DigiCo) that
focuses on B2B and B2C segments to accelerate
digital service by taking advantage of our advantages
that competitor do not have. Telkomsel through PT
Telkomsel Digital Ecosystem (TED) is developing
a vertical business portfolio in the digital sector,
namely health-tech, edu-tech, and mobile gaming.
Annual Report 2022
41
Annual Report 2022
CORPORATE CULTURE AND VALUE
CORE VALUES AKHLAK
Since 2020, every State-Owned Enterprise (SOE) is required to apply the main values called AKHLAK, in accordance
with the Circular Letter of the Minister of SOEs Number: SE 7/MB/07/2020 dated July 1, 2020 regarding Core Values of
Human Resources of State-Owned Enterprises.
Amanah/Trustworthy
Holding on to the trust given
Kompeten/Competent
Continue to learn and develop capabilities
Harmonis/Harmonious
Caring for each other and respecting differences
Loyal
Dedicated and prioritizing the interests of the nation and the
state
Adaptif/Adaptive
Continue to innovate and be enthusiastic in moving or facing
change
Kolaboratif/Collaborative Building a synergistic collaboration
Therefore, in order to answer these directives and in line with Telkom’s Corporate Strategic Scenario 2021-2025 which
mandates companies to carry out Align Ways of Working Under Digital Age, TelkomGroup as one of the SOEs is
committed to implementing Core Values AKHLAK. One form of TelkomGroup’s commitment in implementing the Core
Values AKHLAK is by making a pledge and commitment by all TelkomGroup Directors and employees to implement
AKHLAK and become a role model for its implementation. The company also issued a Regulation of the Director of
Human Capital Management regarding the implementation of Core Values AKHLAK in TelkomGroup.
COMPANY CULTURE ACTIVATION PROGRAM
The CEO of TelkomGroup and all unit leaders act as role models as well as the main movers in the corporate culture
activation program. The unit leader appoints a Culture Agent to ensure that the internalization of corporate culture
through the participation of all employees goes well. The current number of Culture Agents is 5,184 people, where
3,054 people are from units at Telkom and 2,130 people are from Subsidiaries. Every Culture Agent must participate
in the Culture Agent on boarding program in order to have the same interpretation and knowledge regarding the
Company’s culture. Furthermore, the unit leadership will be assisted by a Culture Agent to form a forum called the
Cultural Activation Provocation Community (Kipas Budaya) for the implementation of cultural activation in each unit.
CALENDAR OF CULTURE ACTION
The theme of Telkom’s cultural program in 2022 is Amplify Internalization & Actualization Core Values AKHLAK for
Digital Telco Transformation. This theme synergizes and supports the main programs and goals of the company. This
theme is the basis for preparing corporate cultural activities during 2022. These cultural activities are arranged in a
Calendar of Culture Action (COCA) every year. COCA becomes a reference for each unit to develop and implement
various cultural activity programs by instilling AKHLAK values into daily behavior to improve company performance.
42
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 During 2022, Telkom also builds a culture of Core Values AKHLAK, including how to work in the digital era through
online training, namely Strengthening the Internalization of Core Value AKHLAK.
BUILDING DIGITAL CULTURE
Telkom continues to strive for digital transformation by updating its corporate culture program, in order to encourage
changes in mindset, behavior, abilities, and digital-oriented skills with AKHLAK as the Company’s value system.
Since 2017, Telkom has carried out the Hack Idea Program as a forum for exchanging innovations between
employees such as design sprints, design thinking, experimentation, and collaboration. As a strengthening of the
Hack Idea program, since 2020, the IdeaBox platform has been present as innovation social media single platform
for TelkomGroup employees to convey ideas and collaborate to develop them. With the combination of the two, it is
hoped to increase the enthusiasm and support system for the innovation culture built at the TelkomGroup. The Talent
Booster activity initiated the Hack Idea series of activities, namely the development of knowledge and innovation
capabilities through classrooms and e-learning learning methods, then continued with an assessment of the resulting
innovations. Innovations deemed feasible will enter the development stage and are guided by experienced mentors
and facilitated by the company through the AMOEBA program, which has produced various products and the
development of digital-based internal business processes.
In its business processes, Telkom has used various digital tools, such as a corporate portal as a daily operational
application which includes, e-office; e-budgeting; file sharing; collaboration (Diarium); career & succession
management (Ingenium); learning & knowledge management (Cognitium); etc.
CORPORATE CULTURE EVALUATION
Telkom evaluates corporate culture using AKHLAK Culture Health Index (ACHI) measurement to determine the level of
effectiveness of corporate culture implementation. This value is measured as a whole or specifically which leads to the
internalization of Core Value AKHLAK. The results of 2022 ACHI measurement obtained a total score in high category
(94.5%), which means that Telkom’s organizational culture is healthy and productive.
43
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 TELKOM MILESTONE
Indonesian Government established Perusahaan Negara Pos dan Telekomunikasi (PN Postel) in 1961 through
Government Regulation Number 240 year 1961 regarding the Establishment of State Post and Telecommunication
Company. Based on Government Regulation No. 30 dated July 6, 1965, PN Postel was then split into PN Pos dan
Giro and Perusahaan Negara Telekomunikasi (PN Telekomunikasi). This moment is the basis for determining the
anniversary of Telkom Indonesia.
Then in 1974, PN Telekomunikasi was split into two entities, namely Perusahaan Umum Telekomunikasi (Perumtel)
and PT Industri Telekomunikasi Indonesia (PT INTI). In 1991, Perumtel changed to become a state-owned limited
liability company with official name PT Telekomunikasi Indonesia (Persero) or Telkom.
In 1995, Telkom became a public company listed on IDX and NYSE. At the end of 2022, Telkom’s market capitalization
value will reached Rp371 trillion.
2022
In 2022, Telkom will complete the first phase of
building Hyperscale Data Center in Cikarang. In
addition, at the end of 2022 Telkom will also start
groundbreaking for the construction of Hyperscale
Data Center in Batam. In terms of connectivity, in
2022 Telkom will open a second gateway in Manado,
and also through its subsidiary Telin, Telkom has also
joined SEA-ME-WE 6 Submarine Cable consortium.
This year, Telkom has also established strategic
partnership with several major world technology
companies such as Microsoft, and so forth.
2021
On May 27, 2021, Telkomsel officially launched its 5G service, making it the first cellular operator to provide 5G
in Indonesia. Telkom also continues to enhance its collaboration through additional investment in Gojek and
signing of an MoU with Microsoft. Telkom’s subsidiary, Mitratel, successfully conducted an Initial Public Offering
(IPO) on November 22, 2021 and raised funds of Rp18.8 trillion.
44
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 2016
2011-2015
Telkom has completed the construction of the
Southeast Asia-Middle East-Western Europe 5 (SEA-
ME-WE 5) submarine system.
In 2011, Telkom completed Super Nusantara Highway
project and True Broadband Access project. Then in
2014, Telkom became the first operator in Indonesia to
provide 4G LTE service. A year later, Telkom launched
IndiHome, a service package consisting of broadband
internet, fixed wireline telephone, and interactive TV
services.
2017
Telkom
launched the Telkom 3S Satellite and
completed the Southeast Asia-United States (SEA-
US) submarine fiber optic cable line.
1999-2010
2018
Telkom launched the Telkom-1 satellite in 1999 and the
Telkom-2 satellite in 2005. Telkom has also successfully
completed JaKaLaDeMa underwater fiber optic cable
project.
Telkom launched the Merah Putih Satellite and
inaugurated the Telkom Hub as a Center of Excellence
and Source of Inspiration to Build Digital Indonesia.
Telkom has also completed the construction of the
Indonesia Global Gateway (IGG).
1991-1995
2019
In the context of expansion, TelkomGroup acquired
2,100 towers owned by Indosat Ooredoo through
Mitratel and acquired 95% shares in PT Persada
Sokka Tama which owns 1,017 towers. Telkom also
received the “2019 Indonesia IoT Services Provider
of the Year” award at the Frost & Sullivan 2019 Asia
Pacific Best Practices Awards.
2020
TelkomGroup carried out several initiatives at the
company, community and national levels in response
to the COVID-19 pandemic. Several corporate actions
are carried out by Telkomsel, including signing a
conditional sale and purchase agreement for selling
6,050 telecommunication towers to Mitratel and
establishing cooperation and investing in Gojek.
In 1991 Perumtel officially changed to Telkom. Then
in 1995, Telkom established a subsidiary, Telkomsel as
a cellular operator and conducted an IPO on Jakarta
Stock Exchange and Surabaya Stock Exchange,
registered shares on NYSE and LSE, and offered open
shares without listing on Tokyo Stock Exchange.
1974
PN Telekomunikasi was split into Perumtel, which
provides telecommunications services, and PT INTI,
which manufactures telecommunications equipment.
1965
Indonesian Government
separated postal and
telecommunications services, so PN Postel was split
into two entities, namely Perusahaan Negara Pos
dan Giro (PN Pos and Giro) and Perusahaan Negara
Telekomunikasi (PN Telekomunikasi).
45
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 BUSINESS ACTIVITIES
BUSINESS ACTIVITIES BASED ON TELKOM’S ARTICLES OF
ASSOCIATION
Based on Article 3 of the Company’s Articles of Association as stated in the Deed of Statement of Resolution of the
Company’s GMS Number 37 dated June 22, 2022, which was received and approved by the Minister of Law and Human
Rights based on Letter No. AHU-0044650.AH.01.02. year 2022 dated June 29, 2022, Telkom’s business activities are in
the field of providing telecommunications networks and services, informatics, as well as optimizing the utilization of
the Company’s resources to produce goods and/or services of high quality and with solid competitiveness to gain/
pursue profit to increase Company’s value by applying the principle of Limited Liability Company. Principal business
activities and supporting business activities of Telkom in general are:
PRINCIPAL BUSINESS ACTIVITIES
1. Planning, building, providing, developing, operating, marketing/selling/leasing, and maintaining telecommunication
and information technology networks in the broadest definition with due observance of the statutory regulations.
2. Planning, developing, providing, marketing/selling, and improving telecommunication and information technology
services in the broadest definition with due observance of the statutory regulations.
3. Making investments including equity participation in other companies in line with and in order to achieve the goals
and objectives of the Company.
SUPPORTING BUSINESS ACTIVITIES
1. Provide payment transaction and money transfer services through telecommunications and informatics networks.
2. Carry out other activities and businesses in the context of optimizing resources owned by the Company, including
the use of fixed and movable assets, information system facilities, education facilities and training facilities,
maintenance and repair facilities.
3. Cooperate with other parties in the context of optimizing informatics, communication or technology resources
owned by other parties in the informatics, communication, and technology industries, in line with and in order to
achieve the aims and objectives of the Company.
46
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
PORTFOLIO PRODUCT AND/OR SERVICE
Telkom develops business activities in various segments in accordance with the digital transformation strategy and
the development of telecommunications industry. In each business segment, Telkom has a portfolio of products and
services which are described as follows:
Segment
Business Line
Product
Mobile
Consumer
Mobile Legacy
Mobile Data
Mobile Digital
Mobile Voice, Mobile SMS
Mobile Broadband
IoT, Big Data, Financial Service, VOD, Music, Gaming, Digital
ads
Home Fixed Services
IndiHome Fixed BB, Non-IndiHome Fixed BB (e.g., Wifi, etc.),
Fixed Voice, IPTV, Digital Services (e.g., Gaming, Music, etc)
Home Legacy
Legacy Fixed Voice
Connectivity
Satellite
Enterprise
Digital IT Services
Fixed Voice (Non-Digital), Fixed BB (Digital), Enterprise Data
(Digital), CPE Networks
Upstream (Orbital Slot, Satellite Mission, Transponder),
Downstream (VSAT, Broadband Satellite), Link
IT Service (Integration), IT Service (Vertical), Big Data, IoT,
Cybersecurity, Cloud (IaaS, PaaS, SaaS)
Digital Adjacent Service
Financial Services, eHealth (Claim and Health Service)
BPO
Device
WS Network
WS Traffic
Traditional BPO (e.g., Call Center), Digital BPO, Shared Service
Operations
CPE Trading (Mobile Handset), CPE Managed Service
International Network, Domestic Network
International Voice, Domestic Voice, Internet Traffic
WS Intl, Platform & Services
SMS A2P, DC & CDN
DC
Tower
Infrastructure
Smart Platform
Collocation & Hosting, Integrated DC Services, Hyperscale
Tower Owned (Macro, Micro, etc.), Reseller, Managed Service,
Project
Infra & Network Managed Service, Submarine Cable Service,
Power Solutions
Financial Service, Big Data, IoT Platform, Cybersecurity, Digital
Advertising
Digital Content
Music, Gaming, Video
e-Commerce
B2B e-Commerce
Wholesale &
International
Service
Digital
Other
Non-portfolio
Digital Investment, Property Development, Property
Management, Hospitality
47
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 TELKOM ORGANIZATIONAL STRUCTURE
Telkom’s organizational structure as of December 31, 2022 with disclosures
at least up to the structure of 1 (one) level below the Board of Directors is
presented as follows:
President Director
(RIRIEK ADRIANSYAH)
Director of Enterprise &
Business Service (Plt)
(FM VENUSIANA R)
Director of Consumer
Service
(FM VENUSIANA R)
Director of Wholesale
& International Service
(BOGI WITJAKSONO)
Director of Network &
IT Solution
(HERLAN WIJANARKO)
Director of Digital
Business
(MUHAMAD FAJRIN
RASYID)
Director of Strategic
Portofolio
(BUDI SETYAWAN
WIJAYA)
AVP Secretariat
of the Directorate
EBIS
(YOSEPH GUSTOMMY
BISONO)
AVP Secretariat
of the Directorate
CONS
(FITIRIANSYAH
NASUTION)
AVP Secretariat
of the Directorate
WINS
(DANIEL SYAFRIL)
AVP Secretariat
of the Directorate
NITS
(AGUNG KERTIOSO)
AVP Secretariat of
the Directorate DB
(H MOHAMAD
RAHMAT YUSUF)
AVP Secretariat of
the Directorate SP
(ZAKARIAH)
VP Enterprise
Business Strategy
(IRWAN ANDRIYANTO
NUGROHO)
VP Planning
& Resource
Management
(-)
VP Strategy
Planning &
Performance
(-)
VP Network/IT
Strategy, Technology
and Architecture
(RIZAL AKBAR)
VP Digital Busines
Straretegy &
Governance
(RIZA A N RUKMANA)
VP Corporate
Strategic Planning
(TORKIS ROPINDA
SIHOMBING)
VP Enterprise
Business
Orchestration
(ARIWIATI)
VP Marketing
Management
(EDIE KURNIAWAN)
VP Wholesale Product
& Service
(MICHAEL ADIGUNA)
VP Integrated
Infrastructure Program
& Budget Mgt
(SOENDOJOADI)
VP Digital Busines
Performance
(JOKOADI WIBOWO)
VP Enterprise
Business Governance
(AMBAR
KUSPARDIANTO)
OVP Customer
Fullfillment
(FIRMAN HIDAYAT)
VP Wholesale
Solution & Customer
Management
(OKTADIASIH
MUNINGGAR)
VP Performance
& Governance
Management
(ADMIRAL DASRIN)
OVP Customer
Assurance
(MOHAMMAD SYIBLI)
OVP Cyber Security
(ELYSABETH
DAMAYANTI)
VP Integrated
Portofolio
Management
(IMAM RIJANTO)
VP Synergy
(SUHARTONO)
VP Strategic
Investment Digital
Telco
(YUSUF WIBISONO)
VP Strategic
Investment ICT &
Services
(AGUNG NUGROHO)
VP Global
Strategic Partnership
(AHMAD ZAKI BIN
NASRUDDIN)
EGM Solution,
Delivery & Assurance
Division
(SUJITO)
EGM TV Video
Division
(ANAK AGUNG GEDE
MAYUN WIRAYUDA)
EVP Wholesale
Service Division
(MUHAMMAD ROFIK)
EGM Service
Operation Division
(BAMBANG
HARYASENA)
EVP Business &
Technology Division
(SAIFUL HIDAJAT)
EGM Enterprise
Service Division
(TEUKU MUDA
NANTA)
EGM Business
Service Division
(EDDY SOFRYANO)
EGM Goverment
Service Division
(DEDY MARDHIANTO)
48
Annual Report 2022
EGM Digital
Connectivity Service
Division
(-)
EGM Digital
Infrastructure
Develpoment
Division
(TOTO SUGIHARTO)
EGM Digital
Information
Technology Division
(SIHMIRMO ADI)
CRO
EVP Telkom
Regional
I
(TEDDY HARTADI)
EVP Telkom
Regional
II
(MOHAMMAD SALSABIL)
EVP Telkom
Regional
III
(SYAIFUDIN)
I
E
C
F
F
O
E
T
A
R
O
P
R
O
C
T
I
N
U
S
S
E
N
S
U
B
I
Y
R
O
T
I
R
R
E
T
Board of Commissioners
Audit Committee
Committee for Nomination
and Remuneration
Committee for Planning and
Risk Evaluation and Monitoring
Director of Finance
and Risk Management
(HERI SUPRIADI)
Director of Human
Capital Management
(AFRIWANDI)
SVP Corporate
Secretary
(INDRAWAN
DITAPRADANA)
SVP Corporate
Communication &
Investor Relation
(AHMAD REZA)
SVP Internal Audit
(DARU MULYAWAN)
SVP Group Corporate
Transformation
(DEVI ALZY)
CEO’s Office
VP Regulatory
Management
(CHAIRUDIN MIRZA)
VP Corporate
Communication
(ANDRI HERAWAN
SASOKO)
VP Planning &
Development Audit
(IMAM SANTOSO)
VP Corporate Office
Support
(HARDI PURWANTO)
VP Investor Relation
(EDWIN JULIANUS
SEBAYANG)
VP Infrastructure &
Operation Audit
(AFDOL MUFTIASA)
VP Legal &
Compliance
(JUNIAN SIDHARTA)
VP Information
Technology Audit
(UMAR SYAHID)
VP Integrated &
Financial Audit
(AGUS WIDJAJANTO)
Transformation
Program Leader
Taskforce
Leader
AVP GCT Budget &
Resourcing
(RAHAYU
SYAHRAINI)
AVP GCT Planning,
Governance,
Monitoring &
Reporting
(NOVRIWAN)
VP GCT Change
Management &
Communication
(MOHAMMAD
IZZUDIN)
AVP Secretariat
of the Directorate
Finance
(WILLY
KOESPRASETYO)
AVP Secretariat
of the Directorate
HCM
(YULIO)
SVP Risk
Management
(JATI WIDAGDO)
VP HC Strategic
Management
(AHMED YASSER)
VP Telkom Financial
Control
(DEVINDRA KAMAL)
VP HC Development
(NIZAR)
VP Subsidaries
Financial Control
(HENDRA
KURNIAWAN)
VP HC
Organizational
Effectiveness
(IWAN SETIAWAN)
VP HC Technology &
People Analytics
(DIDI HARYADI)
VP Subsidaries
Accounting &
Corporate Finance
(JUNAINAH)
VP Financial &
Procurement Policy
(NURCHOLIS FERI
AHMADI)
SGM SSO Finance
Center
(ACHMAD ALIYADIN)
SGM Assesment
Center Indonesia
(JUSTI
ARIESTHIAWATI)
SGM SSO
Procurement &
Sourcing Center
(MOKHTAR ISMAIL)
SGM Community
Development Center
(HERY SUSANTO)
SGM Asset
Management Center
(-)
SGM Telkom Shared
Service Center
(EKA SETIAWAN)
SGM HC Business
Partner Center
(SENDI ADITYA
KAMESVARA)
SGM Telkom
Corporate University
Center
(JEMY VESTIUS
CONFIDO)
EVP Telkom
Regional
IV
(RIJANTO UTOMO)
EVP Telkom
Regional
V
(DJATMIKO)
EVP Telkom
Regional
VI
(FERA PEBRAYENTI)
EVP Telkom
Regional
VII
(AGUS YUDHA BASUKI)
Annual Report 2022
49
LIST OF INDUSTRY ASSOCIATION
MEMBERSHIPS
No.
National
Member
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
Masyarakat Telematika Indonesia (MASTEL)
Telkom, Telkomsat, TelkomMetra, Infomedia,
AdMedika, Mitratel, Telkomsel
Asosiasi Kliring Trafik Telekomunikasi (ASKITEL)
Telkom, Telkomsel
Asosiasi Penyelenggara Jaringan Internet Indonesia (APJII)
Telkom, Telkomsat, TelkomMetra, Telkomsel
Asosiasi Telekomunikasi Seluruh Indonesia (ATSI)
Telkom, Telkomsel
Indonesia Telecommunication Users Group (IDTUG)
Telkom
Asosiasi Penyelenggara Pengiriman Uang Indonesia (APPUI)
Telkom, Finnet, Telkomsel
Asosiasi Sistem Pembayaran Indonesia (ASPI)
Telkom, Finnet, Telkomsel
Asosiasi Penyelenggara SKKL Seluruh Indonesia (ASKALSI)
Telkom
Indonesia Mobile Content Association (IMOCA)
Asosiasi Televisi Swasta Indonesia (ATVSI)
Telkom
Telkom
Asosiasi Satelit Indonesia (ASSI)
Telkom, Telkomsat
Forum Komunikasi Satuan Pengawas Internal (FKSPI)
Telkom
Asosiasi Gabungan Pelaksana Konstruksi Nasional Indonesia
(GAPENSI)
Graha Sarana Duta, Telkomsat, Mitratel
14.
Keanggotaan Green Building Council Indonesia (GBCI)
Graha Sarana Duta
15.
16.
17
18.
Keanggotaan Persatuan Perusahaan Real Estate Indonesia
(REI)
Graha Sarana Duta
Asosiasi Gabungan Rekanan Konstruksi Indonesia (GARANSI)
Graha Sarana Duta
Asosiasi Badan Usaha Jasa Pengamanan Indonesia (ABUJAPI)
Graha Sarana Duta
Asosiasi Perusahaan Klining Servis Indonesia (APKLINDO)
Graha Sarana Duta
19.
Keanggotaan Kamar Dagang dan Industri (KADIN)
Telkom, Graha Sarana Duta, Telkomsat, Infomedia,
Nutech, AdMedika, Bosnet, Swadharma Sarana
Informatika (SSI)
Asosiasi Perawatan Bangunan Indonesia (APBI)
Graha Sarana Duta
Asosiasi Kontraktor Ketenagalistrikan Indonesia (AKLINDO)
Graha Sarana Duta
Asosiasi Pengelola Gedung Badan Usaha Milik Negara (APG
BUMN)
Graha Sarana Duta
Indonesia Cyber Security Forum (ICSP)
Telkom
Asosiasi Inkubator Bisnis Indonesia (AIBI)
Indigo Creative Nation
Asosiasi Perusahaan Nasional Telekomunikasi (APNATEL)
Telkom, Telkom Akses
Asosiasi Perusahaan Teknik Mekanikal Elektrikal (APTEK)
Nutech, Swadharma Sarana Informatika (SSI)
Asosiasi Perusahaan Pengadaan Komputer dan Telematik
Indonesia (ASPEKMI)
Nutech, Infomedia, Swadharma Sarana
Informatika (SSI), Telkomsat
Asosiasi Pengusaha Indonesia (APINDO)
Asosiasi Bisnis Alih Daya Indonesia (ABADI)
Indonesia Contact Center Association (ICCA)
Asosiasi Cloud Computing Indonesia
Asosiasi Data Center Indonesia (IDPRO)
Infomedia
Infomedia
Infomedia
Telkomsigma
Telkomsigma
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
50
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
No.
33.
National
Member
Asosiasi PMOI (Project Management Office Professional
Indonesia)
Telkomsigma
34.
Asosiasi Badan Usaha Jasa Pengamanan Indonesia (ABUJAPI)
Swadharma Sarana Informatika (SSI)
Asosiasi Perusahaan Jasa Pengolahan Uang Tunai Indonesia
(APJATIN)
Swadharma Sarana Informatika (SSI)
Asosiasi Perusahaan dan Konsultan Telematika Indonesia
(ASPEKTI)
Asosiasi Perusahaan Perdagangan Barang Distributor,
Keagenan Dan Industri (ARDIN)
Swadharma Sarana Informatika (SSI)
Swadharma Sarana Informatika (SSI), Telkomsat
Asosiasi Fintech (AFTECH)
Finnet, Telkomsel
Asosiasi E-Commerce Indonesia (idEA)
Ikatan Ahli Ekonomi Islam Indonesia (IAEI)
Masyarakat Ekonomi Syariah (MES)
BUMN Muda
Business 20 (B20)
Forum Human Capital Indonesia (FHCI)
Finnet
Telkom
Telkom
Telkom
Telkom
Telkom
Asosiasi Pengembang Menara Telekomunikasi (ASPIMTEL)
Mitratel
Asosiasi IoT Indonesia (ASIOTI)
Asosiasi Emiten Indonesia (AEI)
48.
Himpunan Jasa Konstruksi Indonesia (HJKI)
49.
Ikatan Akuntan Indonesia (IAI)
Telkomsel
Telkom
Telkom Akses
Telkom
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
No.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
International
Member
International Telecommunication Union (ITU)
Telkom
International Telecommunications Satellite Organization (ITSO)
Telkom
International Telecommunications Satellite (INTELSAT)
International Marine / Maritime Satellite (INMARSAT)
Telkom
Telkom
Asia Pacific Telecommunication (APT)
Telkom, Telkomsel
Asia Pacific Economic Cooperation (APECTEL)
Telkom
TM Forum
ASEAN CIO Association (ACIOA)
Wireless Broadband Alliance (WBA)
Telkom, Telkomsel
Telkom
Telkom
Asia-Pacific Satellite Communications Council (APSCC)
Telkomsat
Asia Pacific Network Information Centre (APNIC)
Bridge Alliance
Telkomsel
Telkomsel
Global System for Mobile Communications Association (GSMA)
Telkomsel
PMO Global Alliance (PMOGA)
Telkomsigma
Pacific Telecommunications Council (PTC)
Mobile Ecosystem Forum (MEF)
International Cable Protection Committee (ICPC)
Telin
Telin
Telin
51
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
PROFILE OF THE BOARD OF COMMISSIONERS
MEMBER OF THE BOARD OF COMMISSIONERS WHO OFFICIATE AS OF DECEMBER 31, 2022
Bambang Permadi Soemantri
Brodjonegoro
President Commissioner/Independent Commissioner
Wawan Iriawan
Independent Commissioner
Age
56 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Age
59 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 1997
Ph.D, University of Illinois at Urbana Champaign,
Educations
• 2018 Doctoral degree in Law, Universitas Padjadjaran,
United States of America.
Indonesia.
• 1993 Master of Urban Planning, University of Illinois at
• 2005 Master degree in Law, Universitas Padjadjaran,
Urbana Champaign, United States of America.
Indonesia.
• 1990 Bachelor degree in Economics, Universitas
• 1989 Bachelor degree in Law, Universitas Jenderal
Indonesia, Indonesia.
Soedirman, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
Base of Appointment
Annual General Meeting of Shareholder (AGMS) of Telkom
on May 28, 2021.
on June 19, 2020.
Current Double Position
Do not have double position.
Work Experiences
• 1999 - 2000 Managing Partner, Iriawan & Co.
Current Double Position
• 2022 President Commissioner, PT Prudential Syariah.
• 2021
• 2021
President Commissioner, PT Bukalapak Tbk.
Independent Commissioner, PT Astra International
Tbk.
• 2021
Independent Commissioner, PT TBS Energi
• 2021
• 2021
• 2021
• 2021
Utama Tbk.
Commissioner, PT Combiphar.
President Commissioner, PT Oligo Infrastruktur.
Independent Commissioner, PT Indofood Tbk.
President Commissioner, PT Nusantara Green
Energy.
Work Experiences
• 2019 - 2021
• 2016 - 2019
Minister of Research, Technology, and
the National Innovation of Republic of
Indonesia.
Minister of National Development
Planning of Republic of Indonesia.
• 2014 - 2016
• 2013 - 2014
Minister of Finance of Republic of Indonesia.
Vice Minister of Finance of the Republic
of Indonesia.
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PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
Bono Daru Adji
Independent Commissioner
Abdi Negara Nurdin
Independent Commissioner
Age
54 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 1995
• 1993
LLM, Monash University, Australia.
Bachelor degree in Law, Universitas Trisakti,
Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 28, 2021.
Current Double Position
• 2017
Managing Partner, Assegaf Hamzah &
Partners.
Work Experiences
• 2019 - 2022
Disciplinary Committee, PT Bursa Efek
Indonesia.
• 2018 - 2021
Chairman, Standards Board of the
Age
54 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 1988
Faculty of Economics, Universitas Tadulako,
Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 28, 2021.
Current Double Position
• 2022 Adviser of Persatuan Artis Penyanyi, Pencipta
Lagu dan Pemusik Republik Indonesia (PAPPRI).
Commissioner, PT Nagara Sains Ekosistem.
• 2021
• 2020 Commissioner, PT Sugih Reksa Indotama.
• 2019
• 2015
Commissioner, PT NSA.
• 2009 Founder, Maleo Music.
• 2005 Co-Founder and Commissioner, PT Hijau Multi
Co-Founder and Producer, Give.ID.
Association of Capital Market Legal
Kreatif.
Consultants.
Work Experiences
• 2015 - 2019
Senior Advisor, National Economic
Agency.
• 2015 - 2016
Supervisory Board, LMKN (National
Collective Management Institute).
53
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
Marcelino Rumambo Pandin
Commissioner
Ismail
Commissioner
Age
56 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Age
53 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 2007 Ph.D. of Technology and Innovation, the
University of Queensland, Australia.
• 2005 Graduate Diploma in Company Director Course,
Australian Institute of Company Director (GAICD),
Australia.
• 2003 Diploma in Company Direction (Chartered
Director Level II), The Institute of Directors (IoD),
London, United Kingdom.
• 1999 Master of Philosophy, Judge Business School
University of Cambridge, United Kingdom.
• 1991
Bachelor degree in Architectural Engineering,
Institut Teknologi Bandung, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 24, 2019.
Current Double Position
Do not have double position.
Work Experiences
• 2018 - 2019
Committee, World Observatory on
Educations
• 2010 Doctoral degree in Electrical and Informatics
Engineering, Institut Teknologi Bandung,
Indonesia.
• 1999 Master degree in Electrical Engineering,
Universitas Indonesia, Indonesia.
Bachelor degree in Physics Engineering, Institut
Teknologi Bandung, Indonesia.
• 1993
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom on
May 24, 2019.
Current Double Position
• 2016 Director General of Resources and Equipment
of Post and Information Technology, Ministry
of Communication and Information of the
Republic of Indonesia.
Work Experiences
• 2018 - 2019 Chairman, Indonesian Telecommunications
Regulatory Agency (BRTI).
• 2016 - 2018 Deputy Chairman, Indonesian
Telecommunications Regulatory Agency
(BRTI).
Subnational Government Finance and
• 2014 - 2016 Director of Broadband Development (previously
• 2017 - 2019
Senior Policy Advisor on City Finance,
Investment OECD Paris, France.
United City and Local Government
(UCLG) Asia Pacific.
called Special Telecommunications), Ministry
of Communication and Information of the
Republic of Indonesia.
• 2012 - 2014 Director of Telecommunications, Ministry
of Communication and Information of the
Republic of Indonesia.
• 2008 - 2012 Director of IT System Operations, Center for
Financial Transaction Reports and Analysis,
Ministry of Communication and Information
of the Republic of Indonesia.
54
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
Rizal Mallarangeng
Commissioner
Isa Rachmatarwata
Commissioner
Age
58 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 2000 Doctoral degree in Comparative Politics, Ohio
State University, United States of America.
• 1994 Master degree in Comparative Politics, Ohio State
University, United States of America.
• 1990 Bachelor degree in Communication Science,
Universitas Gadjah Mada, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on June 19, 2020.
Current Double Position
• 2021
Commissioner, PT. Energi Mega Persada.
Work Experiences
• 2001 - 2020
• 2016
• 2009
Executive Director, Freedom Institute.
Founder, Freedom Corp.
Founder, Fox Indonesia.
Age
56 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 1994 Master of Mathematics, Actuarial Science,
University of Waterloo, Canada.
• 1990 Bachelor in Department of Mathematics and
Natural Sciences, Institut Teknologi Bandung,
Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 28, 2021.
Current Double Position
• 2021 Director General of Budget, Ministry of Finance of
the Republic of Indonesia.
Work Experiences
• 2017 - 2021
Director-General of State Assets,
Ministry of Finance of the Republic of
Indonesia.
• 2013 - 2017
Expert Staff to the Minister of Finance
for Policy and Regulation on
Financial Services and Capital Markets,
Ministry of Finance of the Republic
of Indonesia.
• 2013
Senior Employee at the Fiscal
Policy Agency, Ministry of Finance
of the Republic of Indonesia.
• 2005 - 2012
Head of the Insurance Bureau, Capital
Market and Financial Institution
Supervisory Agency (BPPMLK), Ministry
of Finance of the Republic of Indonesia.
55
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
Arya Mahendra Sinulingga
Commissioner
Age
51 years old
Citizenship
Indonesian
Domicile
Tangerang, Indonesia
Educations
• 1995
Bachelor degree in Civil Engineering, Institut
Teknologi Bandung, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 28, 2021.
Current Double Position
• 2021
Secretary General, Bandung Institute of
Technology Alumni Association.
• 2020 Member of the Board of Trustees, North
Sumatera University.
Work Experiences
• 2021 - 2022
• 2019 - 2021
• 2018 - 2019
• 2018 - 2019
• 2017 - 2018
• 2015 - 2018
• 2015 - 2018
• 2014 - 2019
Head of Public Communication
Division, PMO Implementation of
KPCPEN.
Commissioner, PT INALUM.
Director, PT MNC Tbk.
Corporate Secretary, PT MNC Tbk.
President Commissioner, PT MNC
Infotainment.
President Director, PT IDX Channel.
Deputy Director, iNews TV.
President Commissioner, PT Hikmat
Makna Aksara.
• 2014 - 2018
News Director, PT MNC Tbk and
• 2014 - 2015
• 2014 - 2015
• 2011 - 2014
• 2010 - 2018
Director of PT MCI.
Director, PT MNC Investama Tbk.
Editor-in-Chief, RCTI.
Editor-in-Chief, Global TV.
News Director and Corporate
Secretary, Global TV.
• 2010 - 2014
• 2008 - 2014
Corporate Secretary, PT MNC Tbk.
President Director, PT Hikmat Makna
• 2019
Special Staff III, The Minister of State-Owned
Aksara (Sindo Weekly).
Enterprises (SOE).
• 2008 - 2014
Corporate Secretary, PT Global
Mediacom Tbk.
• 2004 - 2007
Member, The Indonesian
Broadcasting Commission.
• 2001 - 2004
Expert Staff, The Chairman of
the Regional House of Representatives
and Spatial Consultant for North
Sumatera Province.
• 1995 - 2001
Drainage & Marine Consultant,
Bandung.
56
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
MEMBER OF THE BOARD OF COMMISSIONERS WHOSE TERM OF OFFICE
ENDS IN 2022
There was no member of the Board of Commissioners whose term of office ends in 2022.
COMMISSIONER AFFILIATION RELATIONSHIPS
Telkom discloses the affiliation of members of the Board of Commissioners with fellow Commissioners, Directors
and major and controlling shareholders, including the names of affiliated parties, in accordance with the principle of
transparency in the implementation of good corporate governance or GCG.
Name
Position
BOC
BOD
Major &
Controlling
Shareholder(1)
BOC
BOD
Major &
Controlling
Shareholder(1)
Financial Affiliation with
Family Affiliation with
Bambang Permadi
Soemantri
Brodjonegoro
Wawan Iriawan
Bono Daru Adji
Abdi Negara
Nurdin
Marcelino
Rumambo Pandin
President
Commissioner/
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Commissioner
Ismail
Commissioner
Rizal Mallarangeng
Commissioner
Isa Rachmatarwata
Commissioner
Arya Mahendra
Sinulingga
Commissioner
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Remarks:
(1) The controlling shareholder in this matter is the Government of Indonesia represented by the Minister of SOE as a primary shareholder.
BOARD OF COMMISSIONERS’ COMPOSITION
Composition of the Board of Commissioners of Telkom has not changed. As of December 31, 2022, composition of the
Board of Commissioners of Telkom are as follow:
Bambang Permadi Soemantri Brodjonegoro
Wawan Iriawan
Bono Daru Adji
Abdi Negara Nurdin
Marcelino Rumambo Pandin
Ismail
Rizal Mallarangeng
Isa Rachmatarwata
Arya Mahendra Sinulingga
: President Commissioner/Independent Commissioner
: Independent Commissioner
: Independent Commissioner
: Independent Commissioner
: Commissioner
: Commissioner
: Commissioner
: Commissioner
: Commissioner
57
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
PROFILE OF THE BOARD OF DIRECTORS
THE BOARD OF DIRECTORS WHO OFFICIATE AS OF DECEMBER 31, 2022
Ririek Adriansyah
President Director
Heri Supriadi
Director of Finance & Risk Management
Age
59 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Age
57 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 1989 Bachelor degree in Electrical Engineering,
Institut Teknologi Bandung, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 24, 2019.
Current Double Position
Do not have double position.
Work Experiences
• 2019 - 2021
President Commissioner,
PT Telekomunikasi Selular
(Telkomsel).
• 2015 - 2019
President Director, PT Telekomunikasi
Selular (Telkomsel).
Educations
• 2013 Honorary Doctoral degree in Business
Management, Universitas Padjadjaran, Indonesia.
• 1997 Master degree in Business Administration (MBA),
• 1991
Saint Mary’s University, Canada.
Bachelor degree in Industrial Engineering,
Institut Teknologi Bandung, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on June 19, 2020.
Current Double Position
• 2020 President Commissioner, PT Graha Sarana Duta
• 2021
(Telkom Property).
Commissioner, PT Telekomunikasi Selular
(Telkomsel).
• 2014
Director of Wholesale & International
Service, PT Telkom Indonesia (Persero)
Work Experiences
• 2020
• 2012 - 2013
Director of Compliance & Risk
Tbk.
Management, PT Telkom Indonesia
(Persero) Tbk.
• 2011 - 2012
President Director, PT Telekomunikasi
• 2010 - 2011
Director of Marketing & Sales, PT
Indonesia International.
• 2008 - 2010
Telekomunikasi Indonesia
International.
Director of International Carrier
• 2019 - 2020
• 2019 - 2020
• 2012 - 2020
• 2012 - 2014
• 2010 - 2012
Service, PT Telekomunikasi Indonesia
• 2008 - 2011
International.
• 2007 - 2010
Commissioner, PT Telekomunikasi
Selular (Telkomsel).
President Commissioner, PT Fintech
Karya Nusantara (LinkAja).
President Commissioner, PT Telkomsel
Mitra Inovasi.
Director of Finance, PT Telekomunikasi
Selular (Telkomsel).
President Commissioner, PT Graha
Sarana Duta (Telkom Property)
President Director, PT Graha Sarana
Duta (Telkom Property).
Commissioner, PT Multimedia
Nusantara (Metra).
Vice President Subsidiary Performance,
PT Telkom Indonesia (Persero) Tbk.
58
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
FM Venusiana R
Director of Consumer Service and PLT
Director of Enterprise & Business Service
Herlan Wijanarko
Director of Network & IT Solution
Age
56 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 2004 Master degree in Management, Universitas
• 1992
Hasanuddin, Indonesia.
Bachelor degree in Electrical Engineering,
Universitas Diponegoro, Indonesia.
Basis of Appointment
Director of Consumer Service: Annual General Meeting of
Shareholders (AGMS) of Telkom on June 19, 2020.
Director of Enterprise & Business Service: Letter of the
Board of Commissioners on July 11, 2022.
Current Double Position
• 2022 President Commissioner, PT PINS Indonesia.
• 2020 President Commissioner, PT Telkom Akses.
Work Experiences
• 2020
• 2017 - 2020
• 2016 - 2017
• 2013 - 2016
Director Network, PT Telekomunikasi
Selular (Telkomsel).
Senior Vice President Procurement, PT
Telekomunikasi Selular (Telkomsel).
Senior Vice President Consumer
Marketing, PT Telekomunikasi Selular
(Telkomsel).
Executive Vice President, Jabodetabek-
West Java Areas, PT Telekomunikasi
Selular (Telkomsel).
Age
57 years old
Citizenship
Indonesian
Domicile
Bandung, Indonesia
Educations
• 2005 Master degree in Management, Institut Teknologi
Telkom, Indonesia.
• 1989 Bachelor degree in Electrical Engineering, Institut
Teknologi Bandung, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on June 19, 2020.
Current Double Position
• 2020 President Commissioner, PT Dayamitra
Telekomunikasi.
Work Experiences
• 2018 - 2020
• 2016 - 2018
• 2015 - 2016
• 2014 - 2015
• 2014
• 2013 - 2014
• 2010 - 2013
• 2009 - 2010
• 2007 - 2009
President Director, PT Dayamitra
Telekomunikasi.
EGM Service Operations Division, PT
Telkom Indonesia (Persero) Tbk.
Deputy EGM Infra Operations &
Maintenance, PT Telkom Indonesia
(Persero) Tbk.
Deputy EGM Network Infrastructure &
Access, PT Telkom Indonesia (Persero)
Tbk.
Deputy EGM IP Network & Operation,
PT Telkom Indonesia (Persero) Tbk.
GM Regional West Java in North Region
(Bekasi), PT Telkom Indonesia (Persero)
Tbk.
GM Network Regional West Java
Region, PT Telkom Indonesia (Persero)
Tbk.
GM Network Regional Central Java
Region, PT Telkom Indonesia (Persero)
Tbk.
GM Network Regional Eastern Indonesia,
PT Telkom Indonesia (Persero) Tbk.
59
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
Muhamad Fajrin Rasyid
Director of Digital Business
Budi Setyawan Wijaya
Director of Strategic Portfolio
Age
36 years old
Citizenship
Indonesian
Domicile
Jakarta, Indonesia
Age
50 years old
Citizenship
Indonesian
Domicile
Bandung, Indonesia
Educations
• 2019
Executive Educations in Innovations and Growth,
Stanford University of Business, United States of
America.
Educations
• 2003 Master degree in Management, Institut
Manajemen Telkom, Indonesia.
• 1996
Bachelor degree in Technical and Industrial
• 2018
Executive Educations in Scaling Entrepreneurial
Management, Institut Teknologi Telkom, Indonesia.
Ventures, Harvard Business School, United States
of America.
• 2009 Bachelor degree in Technical Information, Institut
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
Teknologi Bandung, Indonesia.
on June 19, 2020.
• 2008 Student Exchange Program, Daejeon University,
South Korea.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on June 19, 2020.
Current Double Position
• 2020 President Commissioner, PT Metranet.
• 2020 President Commissioner, PT MDI.
• 2020 Commissioner, PT Sigma Cipta Caraka.
Work Experiences
• 2011 - 2020
• 2011 - 2014
• 2009 - 2011
CO-Founder & President, Bukalapak.
President Director, Suitmedia.
Consultant, The Boston Consulting
Group (BCG).
Current Double Position
• 2022 President Commissioner, PT Multimedia
Nusantara.
• 2020 President Commissioner, PT Sigma Cipta Caraka.
• 2020 President Commissioner, PT Jalin Pembayaran
Nusantara.
Work Experiences
• 2017 - 2020
• 2015 - 2017
• 2013 - 2015
President Director, PT Admedika.
President Director, PT MD Media.
President Director, PT Melon Indonesia.
60
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
Afriwandi
Director of Human Capital Management
Bogi Witjaksono
Director of Wholesale & International Service
Age
51 years old
Citizenship
Indonesian
Domicile
Bekasi, Indonesia
Educations
• 2011 Master degree in Management, Universitas Islam
• 1995
Sumatera Utara, Indonesia.
Bachelor degree in Industrial Engineering,
Institut Teknologi Telkom, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on June 19, 2020.
Current Double Position
• 2020 President Commissioner, Infomedia.
• 2020 Chairman of the Supervisory Board, Telkom
Pension Fund.
Work Experiences
• 2015 - 2020
• 2015
• 2014 - 2015
• 2013 - 2014
• 2012 - 2013
• 2012
• 2011 - 2012
• 2008 - 2011
SVP Corporate Secretary, PT Telkom
Indonesia (Persero) Tbk.
Advisor CEO, PT Telkom Indonesia
(Persero) Tbk.
Executive General Manager Regional
VII, PT Telkom Indonesia (Persero) Tbk.
Deputy EGM of Business Service
Division, PT Telkom Indonesia (Persero)
Tbk.
GM of National Segment of Welfare
Service Unit, PT Telkom Indonesia
(Persero) Tbk.
GM Enterprise Regional Barat, PT
Telkom Indonesia (Persero) Tbk.
GM Enterprise Regional 2, PT Telkom
Indonesia (Persero) Tbk.
GM Enterprise Regional 1, PT Telkom
Indonesia (Persero) Tbk.
Age
55 years old
Citizenship
Indonesian
Domicile
Bogor, Indonesia
Educations
• 1995 Master degree in Telecomunication Engineering,
Institut Teknologi Bandung, Indonesia.
• 1989 Bachelor degree in Electrical Engineering, Institut
Teknologi Sepuluh Nopember, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 28, 2021.
Current Double Position
• 2022 President Commissioner, PT Telkom Data
Ekosistem (NeutraDC).
• 2022 President Commissioner, PT Telkom Satelit
(Telkomsat).
• 2021
President Commissioner of PT Telekomunikasi
Indonesia International (Telin).
• 2021
President Commissioner of PT Telkom Infra.
Work Experiences
• 2019 - 2020
• 2019 - 2020
• 2019 - 2020
• 2018 - 2019
• 2015 - 2019
• 2012 - 2019
• 2009 - 2012
Director of Enterprise & Business
Service, PT Telkom Indonesia (Persero) Tbk.
President Commissioner, PT Telkom Satelit.
Commissioner, PT Telkom Metra.
Deputy President Director/COO,
PT Telkom Satelit.
President Director, PT Patrakom.
Managing Director, PT Metrasat.
General Manager of Operations,
PT Metrasat.
61
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
MEMBER OF THE BOARD OF DIRECTORS WHOSE TERM OF OFFICE ENDS
IN 2022
Edi Witjara
Director of Enterprise & Business Service
Age
50 years old
Citizenship
Indonesian
Domicile
Bandung, Indonesia
Educations
• 2018 Doctoral degree in Business Management,
Universitas Padjajaran, Indonesia.
• 2009 Master degree in Business Law, Universitas
• 1995
Padjajaran, Indonesia.
Bachelor degree in Electrical Engineering,
Universitas Islam Sumatera Utara, Indonesia.
Basis of Appointment
Annual General Meeting of Shareholders (AGMS) of Telkom
on May 24, 2019.
Current Double Position
• 2020 President Commissioner, PT Telkom Satelit
Indonesia.
• 2020 President Commissioner, PT PINS Indonesia.
• 2019
President Commissioner, PT Multimedia
Nusantara.
Work Experiences
• 2019 - 2020
• 2019 - 2020
• 2019 - 2020
• 2018 - 2019
• 2017 - 2018
• 2016 - 2018
• 2013 - 2016
• 2013 - 2016
Director of Human Capital
Management, PT Telkom Indonesia
(Persero) Tbk.
Presiden Commissioner, PT Infomedia
Nusantara.
Board of Supervisor, Global Council of
Corporate University.
SVP Group Financial Planning Analysis
and Control, PT Telkom Indonesia
(Persero) Tbk.
Head of the Shared Service
Organization Business Program, PT
Telkom Indonesia (Persero) Tbk.
SVP Financial Planning & Analysis, PT
Telkom Indonesia (Persero) Tbk.
Commissioner, PT Telkom Akses.
VP Management Accounting, PT
Telkom Indonesia (Persero) Tbk.
62
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
DIRECTORS AFFILIATIONS AND RELATIONSHIPS
Telkom discloses the affiliation relationship between members of the Board of Directors and fellow members of the
Board of Directors, Commissioners, and major and controlling shareholders, including the names of affiliated parties
in accordance with the principle of transparency in the implementation of good corporate governance or GCG.
Nama
Position
Financial Affiliation with
Family Affiliation with
Major &
Major &
BOC
BOD
Controlling
BOC
BOD
Controlling
Shareholder(1)
Shareholder(1)
Ririek Adriansyah
President Director
Director of
Heri Supriadi
Finance and Risk
Management
No
No
No
No
Director of Consumer
No
No
FM Venusiana R
Service and PLT
Director of Enterprise
& Business Service
Herlan Wijanarko
Director of Network &
No
IT Solution
Muhamad Fajrin
Director of Digital
Rasyid
Business
Budi Setyawan
Director of Strategic
Wijaya
Portfolio
Afriwandi
Director of Human
Capital Management
No
No
No
Director of Wholesale
No
Bogi Witjaksono
& International
Service
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
No
Edi Witjara(2)
Director of Enterprise
No
No
No
No
No
No
& Business Service
Remarks:
(1) Controlling Shareholder in this matter is the Indonesian government represented by the Ministry of State-Owned Enterprises as the primary shareholder.
(2) Not serving since July 8, 2022.
BOARD OF DIRECTORS’ COMPOSITION
There was a change in the composition of members of the Board of Directors of Telkom in 2022. On July 8, 2022, based
on Regulation of Minister of State-Owned Enterprises as General Meeting of Shareholders of the Company (Persero)
PT Industri Telekomunikasi Indonesia regarding Appointment and Dismissal of President Director of the Company
(Persero) PT Industri Telekomunikasi Indonesia, Minister of State-Owned Enterprises appointed Mr. Edi Witjara as
President Director of Limited Liability Company (Persero) PT Industri Telekomunikasi Indonesia, then the duties of
Director of Enterprise and Business Service were carried out by Mrs. FM Venusiana R.
Composition of member of the Company’s Board of Directors as of December 31, 2022 are as follow:
Ririek Adriansyah
Budi Setyawan Wijaya
Heri Supriadi
Herlan Wijanarko
Bogi Witjaksono
Muhamad Fajrin Rasyid
Afriwandi
FM Venusiana R
: President Director
: Director of Strategic Portofolio
: Director of Finance and Risk Management
: Director of Network & IT Solution
: Director of Wholesale & International Service
: Director of Digital Business
: Director of Human Capital Management
: Director of Consumer Service and PLT Director of Enterprise & Business Service
63
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
PROFILE OF THE SENIOR VICE PRESIDENT
Indrawan Ditapradana
SVP Corporate Secretary
Ahmad Reza
SVP Corporate Communication & Investor Relation
Daru Mulyawan
SVP Internal Audit
64
Age
49 years old
Citizenship
Indonesian
Domicile
Bekasi
Serving since
October 1, 2020
Educations
• 2012 Master degree in Management, Universitas
• 1997
Gadjah Mada, Indonesia.
Bachelor degree in Electrical Engineering,
Institut Teknologi Telkom, Indonesia.
Age
45 years old
Citizenship
Indonesian
Domicile
Jakarta
Serving since
October 1, 2020
Educations
• 2001 Bachelor degree in Economics , STIE IBII (Kwik
Kian Gie Business School), Indonesia.
Age
51 years old
Citizenship
Indonesian
Domicile
South Tangerang
Serving since
July 1, 2022
Educations
• 1996 Bachelor degree in Accounting, Universitas
Diponegoro, Indonesia.
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
Devi Alzy
SVP Group Corporate Transformation
Jati Widagdo
SVP Risk Management
Age
55 years old
Citizenship
Indonesia
Domicile
Bekasi
Serving since
October 1, 2021
Educations
• 2014 Master degree in Management, Business
• 1992
Strategic Finance, Universitas Paramadina,
Indonesia.
Bachelor degree in Electrical Engineering,
Universitas Indonesia, Indonesia.
Age
49 years old
Citizenship
Indonesia
Domicile
Jakarta
Serving since
August 1, 2021
Educations
• 1996
Bachelor degree in Industrial Engineering, Institut
Teknologi Telkom, Indonesia.
65
PT Telkom Indonesia (Persero) TbkAnnual Report 2022
TELKOM EMPLOYEES
TelkomGroup realizes that successful achievement of the Company’s vision and mission cannot be separated from
the role and contribution of all employees. Therefore, TelkomGroup strategically engages employees (employee
engagement), in an effort to support TelkomGroup to continue to transform towards a digital telecommunication
company. In addition, all TelkomGroup employees are encouraged to have high agility at work, including by involving
and forming cross-functional and cross-expertise tribes and squads in product and service development.
During the 2022 period, all TelkomGroup employees, both in the parent company and subsidiary companies, have
worked well and complied with the management’s strategic directions. This is realized, cannot be separated from the
role of TelkomGroup management which ensures a professional, safe, comfortable, and prosperous work environment.
In addition, the guarantee of diversity without discrimination in accordance with human rights, allows all TelkomGroup
employees to work wholeheartedly without feeling disturbed or worried.
Subsidiary
Employee
14,874
Postgraduate
1,791
Pre-University
1,036
Total
Employee
Education
Telkom
Employee
8,919
Undergraduate
5,485
Diploma
607
> 45 years
3,941
Others
1,350
Senior
Management
139
Age
Employee
Position
30 - 45 years
2,408
< 30 years
2,570
Supervisor
4,436
Middle
Management
2,994
Retirement
Preparation
Period
37
Female
3,032
Employment
Status
Gender
Male
5,887
Study Assignments
21
Rehire
284
Professional
404
Permanent
Employee
8,173
66
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 EMPLOYEE PROFILE
At the end of 2022 period, Telkom is recorded to have 23,793 employees, consisting of 8,919 employees from the
parent company and 14,874 employees from subsidiaries. When compared to 2021, the number of TelkomGroup
employees in 2022 increased by 37 people or 0.16%. In addition, during 2022 period, Telkom did not release employees
before retirement.
Number of Telkom and Subsidiaries Employees as of December 31 for 2020 - 2022
Telkom Employee
Subsdiary Employee
Total
2022
2021
2020
8,919
14,874
23,793
8,789
14,967
23,756
9,745
15,603
25,348
NUMBER OF EMPLOYEES BASED ON EDUCATION LEVEL
AND AGE DISTRIBUTION
At the end of 2022 period, the proportion of TelkomGroup employees who have taken the undergraduate level is
66.6% or 15,837 people, the largest compared to other categories. While the remaining 9.6% or 2,276 employees took
pre-college, 10.5% or 2,492 employees took diploma levels, and 13.4% or 3,188 employees took postgraduate (Master
and Doctorate).
The following table presents data on TelkomGroup employees by education level, from 2020 to 2022.
Number of Telkom and Subsidiary Employees Based on Education
as of December 31 for 2020 - 2022
Pre-University
Diploma
Undergraduate
Postgraduate (Master and
Doctorate)
2022
2021
2020
Telkom Subsidiary
Total
%
Total
%
Total
%
1,036
607
5,485
1,240
1,885
2,276
2,492
9.6
10.5
2,524
2,651
10.62
3,090
11.16
3,643
10,352
15,837
66.6
15,415
64.89
15,533
1,791
1,397
3,188
13.4
3,166
13.33
3,082
12.2
14.4
61.3
12.1
Total
8,919
14,874
23,793
100.0
23,756
100.0
25,348
100.0
Next, a grouping of employees based on age is presented. As of the end of the 2022 period, Telkom has 71.8% or 17,082
employees who are under 45 years of age. This number increased by 1% when compared to the previous period thus
showing a good regeneration process.
67
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 The table below presents data on TelkomGroup employees by age, from 2020 to 2022.
Number of Telkom and Subsidiary Employees Based on Age as of December 31 for 2020 - 2022
< 30 years
30-45 years
> 45 years
Total
2022
2021
2020
Telkom Subsidiary
Total
%
Total
%
Total
%
2,570
2,408
3,941
8,919
2,831
9,273
2,770
5,401
11,681
6,711
22.7
49.1
28.2
5,754
11,065
6,937
24.2
46.6
29.2
7,233
10,102
8,013
28.5
39.9
31.6
14,874
23,793
100.0
23,756
100.0
25,348
100.0
NUMBER OF EMPLOYEES BY POSITION AND EMPLOYMENT
STATUS
TelkomGroup has several positions, namely senior management, middle management, supervisors, and other
positions under supervisors. At the end of 2022 period, the highest number of employees of Telkom and its subsidiaries
were at the supervisory level as many as 12,632 people. This number increased by 3.3% or 419 employees compared to
the previous period.
The following table presents data on TelkomGroup employees by position, from 2020 to 2022.
Number of Telkom and Subsidiary Employees Based on Position as of December 31 for 2020 - 2022
Senior Management
Middle Management
Supervisor
Others
Total
2022
2021
2020
Telkom Subsidiary
Total
%
Total
%
Total
%
139
2,994
4,436
1,350
8,919
183
322
3,215
6,209
8,196
12,632
3,280
4,630
1.4
26.1
53.1
19.5
319
6,039
12,213
5,185
1.4
25.4
51.4
21.8
296
6,130
12,480
6,442
1.2
24.2
49.2
25.4
14,874
23,793
100.0
23,756
100.0
25,348
100.0
Furthermore, in terms of employment status, as of December 31, 2022, TelkomGroup has 20,869 permanent
employees or 87.7% percent of the total employees. Meanwhile, the number of non-permanent employees owned by
TelkomGroup is 2,924 people or by 12.3%. In the following table, TelkomGroup’s non-permanent employees are divided
into 4 categories, namely Professional Personnel, Rehire, Retirement Preparation Period, and Study Assignment.
Number of Telkom and Subsidiary Employees Based on Employment Status as of December 31 for 2020 - 2022
2022
2021
2020
Telkom Subsidiary
Total
%
Total
%
Total
%
Permanent Employee
Professional
Rehire
Retirement Preparation Period
Study Assignment
Total
8,173
404
284
37
21
12,696
20,869
2,127
2,531
27
21
3
311
58
24
87.7
10.7
1.3
0.2
0.1
20,829
2,585
287
33
22
87.7
10.9
1.2
0.1
0.1
21,336
3,453
393
120
46
84.2
13.6
1.5
0.5
0.2
8,919
14,874
23,793
100.0
23,756
100.0
25,348
100.0
68
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 GENDER EQUALITY ASSURANCE AND NUMBER OF EMPLOYEES
BASED ON GENDER
TelkomGroup guarantees gender equality in its company’s operating environment. This is following Resolution of
the Board of Directors PD.201.01/r.00/PS150/COP-B0400000.2014 dated May 6, 2014 regarding Business Ethics within
TelkomGroup.
At the end of the 2022 period, TelkomGroup has 16,654 male employees, more than the number of female employees,
namely 7,139 people. TelkomGroup does not have a policy to set a quota for the number of employees based on gender
or to discriminate against one gender in employment. However, based on the characteristics of the industry, the
interest of men to work in the telecommunications sector is higher than women.
The table below presents information on number of TelkomGroup employees by gender from 2020 to 2022.
Number of Telkom and Subsidiary Employees Based on Gender as of December 31 for 2020 - 2022
Male
Female
Total
2022
2021
2020
Telkom Subsidiary
Total
%
Total
%
Total
%
5,887
3,032
8,919
10,767
16,654
4,107
7,139
70.0
30.0
16,847
6,909
70.9
29.1
17,787
7,561
70.2
29.8
14,874
23,793
100.0
23,756
100.0
25,348
100.0
The next table shows the seriousness of TelkomGroup in implementing gender equality in the work environment.
Both men and women who have the capability and competence have the right to occupy any position in the company.
In the 2022 period, there are 33 women occupying Senior Management positions, 1,341 people occupying Middle
Management positions, 3,584 people occupying supervisory positions, and 2,181 persons occupying other positions.
Number of Telkom and Subsidiary Employees Based on Position and Gender as of December 31, 2022
Senior
Management
Middle
Management
Supervisor
Others
Total
Telkom
Subsidiary
Total
Male
Female
Total
Male
Female
Total
Male
Female
Total
126
13
139
163
20
183
289
33
322
2,151
843
2,994
2,717
498
3,215
4,868
1,341
6,209
2,933
677
5,887
1,503
4,436
673
1,350
6,115
1,772
2,081
1,508
8,196
9,048
3,584
12,632
3,280
2,449
2,181
4,630
3,032
8,919
10,767
4,107
14,874
16,654
7,139
23,793
69
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 SHAREHOLDERS COMPOSITION
Telkom’s shareholder structure as of December 31, 2022 can be seen in the following diagram.
PT Telkom Indonesia
(Persero) Tbk
Public (47.91%)
Series B Shares
Government of the
Republic of Indonesia
(52.09%)
Series A Shares
Series B Shares
Foreign Ownership
(37.40%)
Local Ownership
(10.51%)
The authorized capital issued and fully paid is 99,062,216,600 shares, which are divided into 1 Series A Dwiwarna share
which is only owned by the Government of the Republic of Indonesia and 99,062,216,599 Series B shares (common
shares). The main and controlling shareholder of Telkom is the Government of the Republic of Indonesia which has a
percentage of share ownership of 52.09%.
Composition of Shareholders Telkom as of December 31, 2022
Shareholders
The Government of the Republic of
Indonesia
Public
Total
Series A
Dwiwarna
Series B
Saham Biasa
%
1
-
1
51,602,353,559
47,459,863,040
99,062,216,599
52.09
47.91
100.00
The following is information regarding the composition of Telkom’s shareholders in more detail.
1. Shareholders with More than 5% Ownership (Major/Controlling Shareholders)
Type of Share
Individual or Group Identity
January 1, 2022
December 31, 2022
Total Shares
%
Total Shares
%
Series A
Series B
The Government of the Republic of Indonesia
1
0
1
0
The Government of the Republic of Indonesia
51,602,353,559
52.09
51,602,353,559
52.09
2. Ownership of Shares by Directors and the Board of Commissioners
On December 31, 2022 there are no Commissioners or Directors which has more than 1.0% of Telkom shares.
Board of
Commisioners
Board of
Directors
BOC and BOD
January 1, 2022
December 31, 2022
Total Shares
%
Total Shares
%
Arya Mahendra Sinulingga
-
-
87,500
<0.01
Ririek Adriansyah
Budi Setyawan Wijaya
Herlan Wijanarko
Afriwandi
Heri Supriadi
1,156,955
275,000
42,500
42,500
40,000
<0.01
<0.01
<0.01
<0.01
<0.01
1,156,955
275,000
42,500
42,500
40,000
<0.01
<0.01
<0.01
<0.01
<0.01
70
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 3. Percentage of Indirect Ownership of Shares of Issuers or Public Companies by Members of the Board of
Directors and Members of the Board of Commissioners at the Beginning and End of Financial Year
All members of the Board of Directors and/or the entire Board of Commissioners do not own shares of issuers or
public companies indirectly at the beginning and end of 2022.
4. Shareholders with Less than 5% Ownership
Telkom Shareholders with Individual Ownership Less than 5%, on December 31, 2022.
Description
Group
January 1, 2022
December 31, 2022
Total Shares
%
Total Shares
%
Foreign
Business/Institution
36,078,995,431
36.42
37,027,407,617
37.38
Individual
21,958,300
0.02
16,925,500
0.02
Local
Business/Institution
Pensions Funds
Mutual Fund
Insurance Company
Limited Liability
Others
Individual
4,601,914,950
4.65
3,531,262,544
2,970,228,038
3.00 2,592,846,400
2,589,339,110
2.61
2,663,197,893
142,057,398
0.14
175,105,807
85,881,850
0.09
97,124,250
969,487,963
0.98
1,355,993,029
3.56
2.62
2.69
0.18
0.10
1.37
Total
47,459,863,040
47.91
47,459,863,040
47.91
5. Percentage of Shares Owned by Domestic and Foreign
As of December 31, 2022, 190,640 shareholders (including the Government of the Republic of Indonesia) were
registered as ordinary shareholders. From this amount, 37,044,333,117 common shares are owned by 2,416 overseas
shareholders or 37.40%. In addition, there are 69 ADS shareholders who own 49,800,925 ADS (1 ADS is equivalent to
100 common shares).
6. List of 20 Largest Public Shareholders
Institution
%
No.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
CITIBANK SINGAPORE S/A GOVERNMENT OF SIN
DJS KETENAGAKERJAAN PROGRAM JHT
BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD
THE NT TST CO S/A HARDING LOEVNER FUNDS
JPMCB NA RE - VANGUARD EMERGING MARKETS
CITIBANK SINGAPORE S/A MONETARY AUTHORIT
JPMCB NA RE-VANGUARD TOTAL INTERNATIONAL
JPMSE LUX RE UCITS CLT RE-JPMORGAN FUNDS
STATE STREET BANK-ISHARES CORE MSCI EMER
BNYMSANV RE BNYM RE PEOPLE’S BANK OF CHI
JP MORGAN SECURITIES PLC
THE NT TST CO S/A WGI EMERGING MARKETS F
DJS KETENAGAKERJAAN PROGRAM JP
HSBC BANK PLC S/A KUWAIT INVESTMENT AUTH
PT. PRUDENTIAL LIFE ASSURANCE - REF
STATE STREET BANK-OMERS ADMINISTRATION C
HSBC BK PLC S/A THE PRUDENTIAL ASSURANCE
PT. AXA MANDIRI FINANCIAL SERVICES S/A M
JPMCB NA RE-VANGUARD FIDUCIARY TRUST COM
20.
JPMCB NA RE - BLACKROCK INST TR CO N A I
3.12
2.36
1.27
0.83
0.65
0.63
0.62
0.44
0.42
0.42
0.40
0.39
0.36
0.36
0.35
0.32
0.30
0.29
0.28
0.27
71
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 k
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SUBSIDIARIES, ASSOCIATED COMPANIES,
AND JOINT VENTURES
As of December 31, 2022, Telkom has 37 subsidiaries with direct and indirect
ownership and an ownership percentage of more than 50%, so that its
Financial Statements are consolidated with Telkom as the parent company.
In addition, there are 9 unconsolidated subsidiaries (affiliates).
98.85% -% |-%
65.00%
99.99%
71.87%
99.99%
99.99%
30.40%
100.00% | -%
99.99%
100.00%
60.00%
51.00% | 49.00%
99.99%
24.27%
100.00%
24.00%
51.00%
-% | 99.99%
-% |99.99%
60.00%
60.00%
-% |99.99%
60.00%
SMI
Description:
Direct Ownership (Consolidated)
Indirect Ownership (Consolidated)
Unconsolidated
72
Annual Report 2022
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The Government of the
Republic of Indonesia
52.09%
Public
47.91%
99.99%
99.99%
99.99%
99.99%
99.99%
99.96%
100.00%
100.00%
100.00%
100.00%
100.00%
70.0%
34.00% | 36.00%
51.00%
99.99%
55.00%
-% | 15.67%
25.00%
6.32%
5.00%
2.11%
33.00%
Annual Report 2022
73
As of December 31, 2022, Telkom has consolidated its Financial Statements for all subsidiaries that are owned directly
or indirectly.
SUBSIDIARIES WITH DIRECT OWNERSHIP
Company
PT Telekomunikasi
Selular (Telkomsel)
Jakarta, Indonesia
Share
Ownership
65%
Operational
Status
Total Asset
(Rp billion)
Operating
100,991
Operating
56,072
Operating
18,710
Business Field
Telecommunication
- provides
telecommunication
facilities and mobile
cellular services using
Global Systems for
Mobile Communication
(GSM) technology
Leasing
telecommunication
towers and other
telecommunications
services
Network
telecommunication
services and
multimedia
71.87%
100%
100%
Telecommunication
Operating
13,949
PT Dayamitra
Telekomunikasi
(Mitratel)
Jakarta, Indonesia
PT Multimedia
Nusantara (Metra)
Jakarta, Indonesia
PT Telekomunikasi
Indonesia
International (Telin)
Jakarta, Indonesia
PT Sigma Cipta Caraka
Tangerang, Indonesia
100%
PT Graha Sarana Duta
Jakarta, Indonesia
100%
PT Telkom Akses
Jakarta, Indonesia
PT Telkom Satelit
Indonesia (Telkomsat)
Jakarta, Indonesia
100%
100%
Operating
8,522
Operating
5,865
Operating
5,308
Operating
6,470
Information technology
service-system
implementation and
integration service,
outsourcing and
software license
maintenance
Leasing of offices and
providing building
management and
maintenance services,
civil consultant and
developer
Construction, service
and trade in the field of
telecommunication
Telecommunication
- provide satellite
communication
system, services and
facilities
74
Address
Telkomsel Smart Office
Telkom Landmark Tower
1st -20th floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
Telkom Landmark
Tower 25th-27th floor, The
Telkom Hub, Jl. Jend
Gatot Subroto Kav. 52
Jakarta 12710, Indonesia
Telkom Landmark Tower
22nd & 41st floor, The
Telkom Hub, Jl. Jend
Gatot Subroto Kav. 52
Jakarta 12710, Indonesia
Telkom Landmark Tower
16th-17th floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta,
12710, Indonesia
Telkom Landmark Tower
23rd floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
Graha Telkom Property,
Jl. Kebon Sirih No. 10,
Central Jakarta, 10110,
Indonesia
Telkom Building, West
Jakarta, Jl. S. Parman
Kav. 8 West Jakarta,
11440, Indonesia
Telkom Landmark Tower
21st floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
Company
PT PINS Indonesia
Jakarta, Indonesia
PT Infrastruktur
Telekomunikasi
Indonesia (Telkom
Infra)
Jakarta, Indonesia
PT Metra-Net
Jakarta, Indonesia
PT Telkom Data
Ekosistem,
Indonesia
Share
Ownership
100%
Business Field
Telecommunication
construction and
services
Operational
Status
Total Asset
(Rp billion)
Operating
797
100%
Construction, service
and trade in the field of
telecommunication
Operating
1,360
Address
Telkom Landmark Tower
42nd floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
Telkom Landmark Tower
19th floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
100%
Multimedia portal
service
Operating
1,731 Mulia Business Park, J
Building, Jl. Letjen MT
Haryono Kav. 58 – 60
Pancoran, Jakarta, 12780,
Indonesia
100%
Data center
Operating
3,202
Graha Telkomsigma
5th floor, Jl. Kapten
Subijanto DJ BSD City,
South Tangerang,
Banten 15321, Indonesia
PT Napsindo Primatel
Internasional
Jakarta, Indonesia
60%
Telecommunication
– provides Network
Access Point (NAP),
Voice Over Data (VOD)
and other related
services
Ceased
operations
on January
13, 2006
5
-
SUBSIDIARIES WITH INDIRECT OWNERSHIP
Company
Share
Ownership
Business Field
Operational
Status
Total Asset
(Rp billion)
Address
100%
Telecommunication
Operating
3,537 Maritime Square, #09-63
Telekomunikasi
Indonesia
International Pte. Ltd.
Singapore
PT Infomedia
Nusantara Jakarta,
Indonesia
100%
PT Telkom Landmark
Tower
Jakarta, Indonesia
55%
Data and information
service-provide
telecommunication
information service
and other information
services in the form of
print and electronic
media and call center
service
Service for property
development and
management
Operating
2,268
Operating
2,100
Telekomunikasi
Indonesia
International Ltd.,
Hong Kong
100%
Telecommunication
Operating
3,196
Harbour Front Centre,
099253, Singapore
PT Infomedia Nusantara
Head Office, Jl. RS.
Fatmawati 77-81 Jakarta,
12150, Indonesia
Telkom Landmark Tower,
The Telkom Hub,
Jl. Jend Gatot Subroto
Kav. 52, Jakarta 12710,
Indonesia
Suite 905, 9/F, Ocean
Centre, 5 Canton Road,
Tsim Sha Tsui, Kowloon,
Hong Kong
75
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 Company
PT Metra Digital
Investama
Jakarta, Indonesia
PT Metra Digital
Media
Jakarta, Indonesia
Operational
Status
Total Asset
(Rp billion)
Operating
9,019
Share
Ownership
100%
Business Field
Trading and/or providing
services related to
information and
technology, multimedia,
entertainment and
investment
100%
Directory information
services
Operating
986
PT Finnet Indonesia
Jakarta, Indonesia
60%
Information technology
services
Operating
1,248
PT Persada Sokka
Tama, Jakarta,
Indonesia
100%
Providing
telecommunication
network infrastructure
Operating
1,401
TS Global Network
Sdn. Bhd.
Petaling Jaya,
Malaysia
Telekomunikasi
Indonesia
International S.A.
Dili, Timor Leste
PT Nuon Digital
Indonesia
Jakarta, Indonesia
PT Telkomsel Mitra
Inovasi
Jakarta, Indonesia
PT Swadharma
Sarana Informatika
Jakarta, Indonesia
PT Administrasi
Medika
Jakarta, Indonesia
PT Graha Yasa Selaras
Jakarta, Indonesia
PT Nusantara Sukses
Investasi
Jakarta, Indonesia
70%
Satellite service
Operating
566
100%
Telecommunication
Operating
825
100%
Digital content
exchange hub services
Operating
1,199
100%
51%
100%
Business management
consulting and capital
venture services
Cash Replenishment
services and ATM
maintenance
Health insurance
administration services
Operating
945
Operating
458
Operating
632
51%
Tourism service
Operating
285
100%
Service and trading
Operating
Address
Telkom Landmark Tower
21st floor, The Telkom Hub,
Jl. Jend Gatot Subroto
Kav. 52 Jakarta 12710,
Indonesia
Telkom Landmark Tower
18th floor, The Telkom Hub,
Jl. Jend Gatot Subroto
Kav. 52, Jakarta 12710
Indonesia
Telkom Landmark Tower
18th floor, The Telkom Hub,
Jl. Jend Gatot Subroto
Kav. 52 Jakarta 12710,
Indonesia
Graha Persada 2, 1st floor,
Jalan Kyai Haji Noor Alie
No. 89, Kalimalang, Kota
Bekasi, Jawa Barat 17148,
Indonesia
Teknorat ½ street,
Cyber 3, 6300 Cyberjaya,
Selangor Darul Ehsan,
Malaysia
Timor Plaza 4th floor,
Rua Presidente Nicolao
Lobato, Comoro, Dili
Timor Leste
Telkom Landmark Tower
45th floor, The Telkom
Hub, Jl. Jend Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
Telkomsel Smart Office
8th floor, Jl Gatot Subroto
Kav. 52, Jakarta 1270,
Indonesia
St Arteri JORR, No. 70, Jati
Melati, Pondok Melati,
Bekasi, Indonesia,
STO Telkom Gambir
Building C 3rd floor,
Jl. Medan Merdeka
Selatan, No. 12, Central
Jakarta, 10110, Indonesia
Jl. Cimanuk No. 33
Bandung, Indonesia
301 Multimedia Tower, Annex
Building 2nd floor, Jl.
Kebon Sirih No. 10-12,
Central Jakarta, Indonesia
30 Mulia Business Park, J
Building, Jl. Letjen MT
Haryono Kav. 58 – 60
Pancoran, Jakarta 12780,
Indonesia
PT Metraplasa
Jakarta, Indonesia
60%
Network & e-commerce
services
Operating
76
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 Company
Share
Ownership
Business Field
Operational
Status
Total Asset
(Rp billion)
Address
60%
System integrator
Operating
273
100%
Telecommunication
Operating
316
100%
Telecommunication
Operating
44
Jl. Tanjung Barat Raya,
No. 17, Pasar Minggu,
South Jakarta, 12510,
Indonesia
800 Wilshire Boulevard,
Suite 620 Los Angeles,
California 90017, USA
Level 4, 241
Commonwealth Street
Surry Hills NSW 2010,
Australia
Communication system
services
Operating
384
88 @ Kasablanka, 35th
floor of Jakarta 12870
PT Nutech Integrasi
Jakarta, Indonesia
Telekomunikasi
Indonesia
International Inc.,
Los Angeles, USA
Telekomunikasi
Indonesia
International
Australia Pty. Ltd.
Sydney, Australia
PT Digital Aplikasi
Solusi
Jakarta, Indonesia
PT Telkomsel
Ekosistem Digital
(“TED”)
Jakarta, Indonesia
Telekomunikasi
Indonesia
International
(Malaysia) Sdn. Bhd.
Kuala Lumpur,
Malaysia
PT Teknologi Data
Infrastruktur
Jakarta, Indonesia
PT Graha
Telkomsigma
Jakarta, Indonesia
PT Collega Inti
Pratama
Jakarta, Indonesia
PT Media Nusantara
Data Global
Jakarta, Indonesia
100%
100%
Information services and
multimedia technology,
entertainment and
investment
Operating
807
70%
Telecommunication
Operating
100%
Satellite services
Operating
8
7
100%
Management and
consulting services
Operating
191
70%
Trade and services
Operating
173
55%
Consulting services
Operating
116
PT Metra TV
Jakarta, Indonesia
100%
Subscription
broadcasting services
Operating
34
PT Pojok Celebes
Mandiri
Jakarta, Indonesia
100%
Travel agency services
Operating
33
Telkom Landmark
Building Tower Menara
1, 3rd floor, Jl. Jend. Gatot
Subroto Kav. 52 Jakarta
12710, Indonesia
Suite 7-3, Level 7, Wisma
UOA II No. 21, Jalan
Pinang, KLCC, 50450,
Kuala Lumpur, Malaysia
Telkom Landmark Tower
41st floor, The Telkom Hub.
Jl. Jend Gatot Subroto
Kav. 52, Jakarta 12710,
Indonesia
Jl. Kapt. Subijanto Dj.
Bumi Serpong Damai
Tangerang 15321,
Indonesia
Gedung Tavalera 6-7th
floor, Jl. TB Simatupang
Kav. 22-26, Jakarta 12430,
Indonesia
Kuningan Barat No. 8,
Mampang Prapatan
Gedung Cyber-1
Jakarta Selatan, DKI
Jakarta 12710, Indonesia
Telkom Landmark Tower
22nd & 41st floor, The
Telkom Hub,
Jl. Jend Gatot Subroto
Kav. 52, Jakarta 12710,
Indonesia
Plasa Telkom Group 2nd
floor Jl. RS. Fatmawati No.
65, Cilandak Barat Jakarta
Selatan 12430, Indonesia
77
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 CHRONOLOGY OF STOCKS REGISTRATION
Since November 14, 1995, Telkom shares have been listed and traded in Indonesia Stock Exchange (IDX) and New York
Stock Exchange (NYSE) with tickers of TLKM and TLK.
Price (Rp/per sheet)
Composition of Share Ownership
Date
Corporate Actions
Nominal
Bid
Government
of Republic of
Indonesia
Public
Pre-Initial Public Offering
500
2,050
8,400,000,000
-
Sale of Shares Held by Government
(933,334,000)
933,334,000
13/11/1995
Telkom Right Issue
-
933,333,000
11/12/1996
15/05/1997
07/05/1999
02/08/1999
Composition of Share Ownership
7,466,666,000
1,866,667,000
Government Shares Block Sale
500
3,850
(388,000,000)
388,000,000
Composition of Share Ownership
Government Distributes Incentive
Shares to All Public Shareholders
Composition of Share Ownership
7,078,666,000
2,254,667,000
500
3,675
(2,670,300)
2,670,300
7,075,995,700
2,257,337,300
Government Shares Block Sale
500
3,825
(898,000,000)
898,000,000
Composition of Share Ownership
Distribution of Shares Bonus
(Issuance) (Each 50 Shares Gets 4
Shares)
Composition of Share Ownership
6,177,995,700
3,155,337,300
500
3,275
494,239,656
252,426,984
6,672,235,356
3,407,764,284
07/12/2001
Government Shares Block Sale
500
2,700
(1,200,000,000)
1,200,000,000
Composition of Share Ownership
5,472,235,356
4,607,764,284
16/07/2002
Government Shares Block Sale
500
3,775
(312,000,000)
312,000,000
Composition of Share Ownership
5,160,235,356
4,919,764,284
01/10/2004
Stock Split with Ratio 1:2
Shares Buy Back Program (I)(1)
Composition of Share Ownership
250
250
4,200
10,320,470,712
9,839,528,568
6,050
-
(211,290,500)
10,320,470,712
9,628,238,068
Shares Buy Back Program (II)(2)
250
9,850
-
(215,000,000)
Composition of Share Ownership
10,320,470,712
9,413,238,068
Shares Buy Back Program (III)(3)
250
7,750
-
(64,284,000)
Composition of Share Ownership
10,320,470,712
9,348,954,068
Shares Buy Back Program (IV)(4)
250
7,600
-
(520,355,960)
Composition of Share Ownership
10,320,470,712
8,828,598,108
Transfer of Shares Buy Back Program
III to Employees through ESOP
Program
250
10,550
-
59,811,400
Composition of Share Ownership
10,320,470,712
8,888,409,508
21/12/2005
29/06/2007
20/06/2008
19/05/2011
14/06/2013
78
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022
Price (Rp/per sheet)
Composition of Share Ownership
Date
Corporate Actions
Nominal
Bid
Government
of Republic of
Indonesia
Public
30/07/2013
Transfer of Shares Buy Back Program I
through Private Placement
250
11,750
-
211,290,500
Composition of Share Ownership
10,320,470,712
9,099,700,008
02/09/2013
Stock Split with Ratio 1:5
13/06/2014
Transfer of Shares Buy Back Program
II through Private Placement
50
50
2,150
51,602,353,560
45,498,500,040
2,440
-
1,075,000,000
51,602,353,560
46,573,500,040
Composition of Share Ownership
Transfer of Remaining Shares Buy
Back Program III through Private
Placement
Composition of Share Ownership
Transfer of Remaining Shares Buy
Back Program IV through Private
Placement
Composition of Share Ownership
50
3,110
-
22,363,000
51,602,353,560
46,595,863,040
50
3,970
-
864,000,000
51,602,353,560
47,459,863,040
No corporate action
-
-
-
-
Composition of Share Ownership
Transfer of Treasury Stock throught
Withdrawal by way of Capital
Reduction
Composition of Share Ownership
No corporate action
Composition of Share Ownership
No corporate action
Composition of Share Ownership
No corporate action
Composition of Share Ownership
No corporate action
51,602,353,560
47,459,863,040
50
3,750
-
1,737,779,800
-
-
-
-
51,602,353,560
47,459,863,040
-
-
51,602,353,560
47,459,863,040
-
-
51,602,353,560
47,459,863,040
-
-
51,602,353,560
47,459,863,040
-
-
-
-
-
-
Composition of Share Ownership
51,602,353,560
47,459,863,040
21/12/2015
29/06/2016
2017
02/07/2018
2019
2020
2021
2022
Remarks:
(1) First shares buy back program began on December 21, 2005 (simultaneously with the EGMS when the program was approved) and ended in June 2007.
(2) Second shares buy back program began on June 29, 2007 (simultaneously with the EGMS when the program was approved) and ended in June 2008.
(3) Third shares buy back program began on June 20, 2008 (simultaneously with the EGMS when the program was approved) and ended in December 2009.
(4) Fourth shares buy back program began on May 19, 2011 (simultaneously with the AGMS when the program was approved) and ended in November 2012.
79
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 CHRONOLOGY OF OTHER SECURITIES
REGISTRATION
Telkom issued its first bonds on Surabaya Stock Exchange on July 16, 2002 with a value of Rp1,000 billion for a period
of 5 years. On the maturity date of July 16, 2007, Telkom fulfilled the obligations on the bonds.
Telkom issued its second bonds on IDX on June 25, 2010, consisting of Series A worth Rp1,005 billion with a tenor of 5
years and Series B worth Rp1,995 billion with a tenor of 10 years. Bonds II Series A and Series B have been paid in full at
maturity, on the date of July 6, 2015 and July 6, 2020.
On July 16, 2015, Telkom issued Phase I Sustainable Bonds I, consisting of Series A worth Rp2,200 billion with a tenor of
7 years, Series B worth Rp2,100 billion with a tenor of 10 years, Series C worth Rp1,200 billion with a tenor of 15 years, and
Series D worth Rp1,500 billion with a term of 30 years. All of these bonds have been listed and traded on IDX.
Bond Name
Amount
(Rp million)
Issuance
Date
Maturity
Date
Period
(Year)
Interest
Rate
Underwriter
Trustee
Settlement
Date
Telkom Bond I
2002
1,000,000
July 16,
2002
July 16,
2007
5
17.00 %
PT Danareksa
Sekuritas
PT BNI Tbk,
PT BRI Tbk
July 16, 2007
Telkom Bond
II 2010 Series A
1,005,000
June 25,
2010
July 6,
2015
5
9.60 %
Telkom Bond
II 2010 Series B
1,995,000
June 25,
2010
July 6,
2020
10
10.20%
Telkom Shelf
Registered
Bond I 2015
Series A
Telkom Shelf
Registered
Bond I 2015
Series B
Telkom Shelf
Registered
Bond I 2015
Series C
Telkom Shelf
Registered
Bond I 2015
Series D
Remark:
2,200,000
June 23,
2015(1)
June 23,
2022
7
9.93%
2,100,000
June 23,
2015(1)
June 23,
2025
10
10.25%
1,200,000
June 23,
2015(1)
June 23,
2030
15
10.60%
1,500,000
June 23,
2015(1)
June 23,
2045
30
11.00%
PT Bank
CIMB Niaga
Tbk
July 6, 2015
PT Bank
Tabungan
Negara
(Persero)
Tbk
July 6, 2020
PT Bank
Permata
Tbk
-
PT Bahana
Sekuritas; PT
Danareksa
Sekuritas;
PT Mandiri
Sekuritas
PT Bahana
Sekuritas; PT
Danareksa
Sekuritas;
PT Mandiri
Sekuritas.
PT Bahana
Sekuritas; PT
Danareksa
Sekuritas;
PT Mandiri
Sekuritas; PT
Trimegah
Sekuritas
Indonesia
Tbk.
(1) Telkom Shelf Registered Bonds 1 Telkom 2015 Series A was issued June 16, 2015 but the official sale transaction was on June 23, 2015.
80
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 On September 4, 2018, Telkom issued Telkom’s Medium Term Notes I Year 2018 with a principal value of
Rp758,000,000,000. In addition, Telkom also issued Medium Term Notes Syariah Ijarah I Telkom Year 2018 with the
remaining ijarah fee of Rp742,000,000,000. Telkom issued three series for each of these Medium Term Notes and
appointed PT Bank Tabungan Negara (Persero) Tbk as the Monitoring Agent. In the 2021 period, Telkom has paid off
Telkom’s 2018 MTN I Series C and Telkom’s 2018 Series C Sharia Ijarah MTN which will mature on September 4, 2021.
Medium
Term
Notes
Currency
Principal
(Rp
million)
Issuance
Date
Maturity
Date
Term
(Year)
Telkom’s
2018 MTN I
A Series
Telkom’s
2018 MTN I
B Series
Telkom’s
2018 MTN I
C Series
Telkom’s
2018 MTN
Syariah
Ijarah I A
Series
Telkom’s
2018 MTN
Syariah
Ijarah I B
Series
Telkom’s
2018 MTN
Syariah
Ijarah I C
Series
262,000
September
4, 2018
September
14, 2019
200,000
September
4, 2018
September
4, 2020
296,000
September
4, 2018
September
4, 2021
264,000
September
4, 2018
September
14, 2019
296,000
September
4, 2018
September
4, 2020
182,000
September
4, 2018
September
4, 2021
1
2
3
2
2
2
Interest Rate
per Annum
(%)
/Installment
Payment
per Year
(Rp million)
7.25%
8.00%
8.35%
Rp19,000
Rp24,000
Rp15,000
Arranger
Monitoring
Agent
Settlement
Datet
PT Bahana
Sekuritas,
PT BNI
Sekuritas,
PT CGS-
CIMB
Sekuritas
Indonesia,
PT
Danareksa
Sekuritas
dan PT
Mandiri
Sekuritas
PT Bank
Tabungan
Negara
(Persero)
Tbk
September
14, 2019
September
4, 2020
September
4, 2021
September
14, 2019
September
4, 2020
September
4, 2021
81
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 NAME AND ADDRESS OF INSTITUTIONS
AND/OR SUPPORTING CAPITAL MARKET
PROFESSION
External
Auditor/
Public
Accountant
Supporting Capital
Market Profession
KAP Purwantono,
Sungkoro & Surja
(A member firm
of Ernst & Young
Global Limited).
Bursa Efek
Indonesia Building,
2nd Tower, 7th floor
Jl. Jend. Sudirman
Kav. 52 - 53
Jakarta - 12190
Address
Service
2022 Fee
Assignment
Period
• Conducting integrated audit of
Rp65.1 billion
2022
2021
2020
2019
2018
2017
2016
2015*
2014
2013
2012
consolidated financial statements
based on Indonesian Financial
Accounting Standards (“IFAS”) and
International Financial Reporting
Standards (“IFRS”) and the
effectiveness of internal controls
over financial reporting.
• Conducting audit based on ETAP
Accounting Standards (Entities
Without Public Accountability)
on the Financial Statements of
the Social and Environmental
Responsibility Program.
• Conducting an audit based on
State Financial Audit Standards
for Company Compliance with
Legislation and Internal Control.
• Conducting collaborative audit
services with BPK RI regarding the
preparation of LKPP RI for the 2022
financial year (SA 600).
• Conducting audit of LK KBUMN.
• Performing compliance attestation
services on the Activity Report on
the Implementation of Prudential
Principles (KPPK Report) in
managing Foreign Debt of Non-
Bank Corporations.
• Performing attestation services
for calculating the BoD & BoC Key
Performance Index (KPI).
Acting as a depository institution
(Custodian) for Telkom’s common
shares traded on the IDX, providing
administrative services for holding
GMS, and providing administrative
services for dividend payment.
Representing the interests of
bondholders with the Company for
Telkom’s phase I sustainable bonds.
• Providing central custodial service
and settlement of stock/bond
transactions on the IDX.
• Storage services and settlement of
securities transactions, distribution
of corporate action results.
Rp1.26 billion Since 1995
Rp75 million Since 2015
Rp40 million Since 1995
Providing rating on credit risk of
Telkom bond issuance.
Rp150 million Since 2012
Securities
Admini-
stration
Bureau
PT Datindo
Entrycom
Wisma Sudirman
Jl. Jend. Sudirman
Kav. 34 - 35
Jakarta - 10220
Trustee
PT Bank Permata
Tbk.
Central
Custodian
PT Kustodian Sentral
Efek Indonesia
Rating
Agency
PT Pemeringkat
Efek Indonesia
WTC II Building
28th floor
Jl. Jend Sudirman
Kav. 29 - 31
Jakarta 12920
Bursa Efek
Indonesia Building,
Tower 1, 5th floor
Jl. Jend. Sudirman
Kav. 52 - 53 Jakarta -
12190
Equity Tower, 30th
Floor Sudirman
Central Business
District Lot. 9 Jl.
Jenderal Sudirman
Kav. 52 - 53 Jakarta
12190
82
PT Telkom Indonesia (Persero) TbkChapter 03 ABOUT TELKOMAnnual Report 2022 Supporting Capital
Market Profession
Moody’s
Fitch
ADS
Custodian
Bank
The Bank of New
York Mellon
Corporation
Legal
Counsel
Herbert Smith
Freehills
Hiswara, Bunjamin &
Tandjung
Address
Service
2022 Fee
Assignment
Period
Moody’s Investors
Service Singapore
Pte. Ltd, 50 Raffles
Place #23-06,
Singapore Land
Tower, Singapore -
048623
Fitch (Hong Kong)
Limited 19/F Man
Yee Building
68 Des Voeux Road
Central, Hong Kong
+ 852 2263 9963
Corporate
Headquarters
240 Greenwich
Street New York,
NY 10286 USA +1 212
495 1784
50 Raffles Place,
#24-01 Singapore
Land Tower,
Singapore 048623
Floor 18 Tower I,
Sudirman 7.8 Jl.
Jend Sudirman Kav.
7-8 Jakarta 10220
Provides ratings on Telkom credit risk.
US$80,500
Since 2018
Provides ratings on Telkom credit risk.
US$67,500
Since 2018
Acting as a depository institution
(Custodian) of ADS shares traded on
the NYSE.
US$127,714
Since 1995
Acted as a corporate legal consultant
regarding the United States capital
market for the Annual Report on
Form 20F.
US$140,000
Since 2022
Notaris
Notaries/PPAT
Ashoya Ratam, SH,
MKn
Jl. Suryo No. 54,
Kebayoran Baru,
Jakarta 12180
Acting as a notary in the Annual
General Meeting of Shareholders
(AGMS).
Rp82.5
million
Since 2012
Remark:
*)
In 2015, Public Accounting Firm Purwantono, Suherman & Surja has changed into Public Accounting Firm Purwantono, Suherman & Surja due to the
changes on composition of Partners.
In the past five years, Telkom has conducted an audit of the Consolidated Financial Statements. The incurred fees for
other service would never exceed the fees for audit services. The following details the fees of public accountants for
the last five years
No.
Audited
Financial
Year
Public Accounting Firm
Certified Public
Accountant
Fee (Rp million)
Auditing
Service
Other
Service
Total
1.
2.
3.
4.
5.
2022
2021
2020
2019
2018
KAP Purwantono, Sungkoro &
Surja (A member firm of Ernst
& Young Global Limited)
KAP Purwantono, Sungkoro &
Surja (A member firm of Ernst
& Young Global Limited)
KAP Purwantono, Sungkoro &
Surja (A member firm of Ernst
& Young Global Limited)
KAP Purwantono, Sungkoro &
Surja (A member firm of Ernst
& Young Global Limited)
KAP Purwantono, Sungkoro &
Surja (A member firm of Ernst
& Young Global Limited)
Agung Purwanto
59,700
5,440
65,140
Widya Arijanti
59,050
11,540
70,590
Handri Tjendra
63,461
1,925
65,386
Handri Tjendra
57,070
2,055
59,125
David Sungkoro
51,826
2,819
54,645
83
PT Telkom Indonesia (Persero) TbkAnnual Report 2022 04
ANALISA DAN
PEMBAHASAN
MANAJEMEN
84
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS 04
ANALISA DAN
PEMBAHASAN
MANAJEMEN
86 Business Environment Overview 2022
89 Operational Overview by Business Segment
106 Marketing Overview
115 Comprehensive Financial Performance
127 Solvency
128 Capital Structure and the Management Policies for
Capital Structure
129 Realization of Capital Expenditure
130 Material Commitment for Capital Expenditure
131 Receivables Collectability
132 Material Information and Fact After Accountant
Reporting Date
133 Business Prospects and Sustainability of The
Company
134 Comparison of Initial Year Target and Realization
135
Target or Projections for the Following Year
136 Dividend
137 Realization of Public Offering Fund
138 Material Information regarding Transaction with
Conflict of Interest, Transaction with Affiliated Parties,
Investment, Divestment, and Acquisition
139 Changes in Law and Regulation
140 Changes in Accounting Policy
85
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk BUSINESS ENVIRONMENT OVERVIEW 2022
GLOBAL ECONOMY AND
INDONESIA
In 2022, global economic growth in general still grew
positively,
indicating a continuation of economic
recovery from the effects of people’s mobility restrictions
in various countries during the COVID-19 pandemic in
2020 and 2021. Nonetheless, global economic conditions
in 2022 still experienced challenges that are not only
hindering the pace of recovery but also increasing the
risk of stagflation and global recession. These challenges
include high
inflation, strict financial policies, the
Russia-Ukraine war, which affected the global supply
chains, the ongoing COVID-19 pandemic in several
countries, and unmatched supply-demand requests.
Based on the World Economic Outlook (WEO) report
released in January 2023, the IMF maintains the outlook
for global economic growth will continue to slow down
to 3.4% in 2022 compared to 2021 of 6.2%. This projection
is more pessimistic than the IMF’s initial projection of
4.4% in January 2022. Developing countries (emerging
markets and developing economies) are still the main
engine of global economic growth, with a growth of
3.9%. Meanwhile, the economic growth of the developed
countries (advanced economies) only grew by 2.7%.
We predicted Indonesia’s economic recovery would
continue while we kept considering the impact of the
global economic slowdown. In 2022, Indonesia’s economic
growth was at 5.31%, which improved compared to the
previous year of 3.70%. It was supported by increased
consumption and investment activities, positive export
performance, and people’s purchasing power amidst
rising inflation. Almost all business sectors have indicated
growth in line with Indonesia’s economic recovery.
With these developments, national economic growth is
expected to remain strong in the future.
Indonesia’s inflation rate this year was relatively high,
recorded at 5.51% (YoY) in December 2022, higher than
the previous year’s inflation of 1.87% (YoY) and higher
than the target of 3.0±1%. It was due to the adjustment
in the fuel price (BBM) to increase inflation in the Volatile
Foods (VF) category and inflation in the Administered
Prices (AP) category. As for the capital market, increasing
volatility in global stock markets has put pressure on
the Jakarta Composite Index (IHSG). In general, capital
market developments are still optimistic, as indicated
by the strengthening of the IHSG by 2.03% YTD as of
December 11, 2022.
The exchange rate of the Rupiah against the USD
judging from the
throughout 2022 has fluctuated,
leading macro indicators. Bank Indonesia’s transaction
rate on January 3, 2022, was Rp14,270 per USD and closed
at Rp15,730 per USD on December 31, 2022. Meanwhile,
Bank Indonesia’s benchmark interest rate (BI 7-days
Repo Rate) increased from 3.50% in January 2022 to
5.50% in December 2022.
The credit rating agency, Fitch Ratings, also maintained
Indonesia’s Sovereign Credit Rating at BBB with a
stable outlook in June 2022. This assessment indicates
maintained macroeconomic stability amid global
economic uncertainty, and Indonesia’s medium-term
economic prospects were quite good. The excellent
policy synergy and credibility between Bank Indonesia
and the Government supported financial stability and
accelerated national economic recovery.
INDONESIAN
TELECOMMUNICATIONS
INDUSTRY
transformation
The Indonesian Government is aggressively implementing
the national digital
acceleration
program. The critical sector to the program’s success is
the telecommunications sector, whose core business
closely correlates with internet usage and digitalization.
One of the Government’s steps to encourage the
telecommunications industry development is providing
state budget investment for digital infrastructure, which
from 2019-2022 has reached around Rp75 trillion.
Based on the Central Statistics Agency (BPS), the
telecommunications industry grew by 7.14% in Q1 2022.
The COVID-19 pandemic over the last three years has
caused a shift in people’s consumption patterns which
have more of a digital lifestyle and economy. It has led
to an increase in internet needs and data usage traffic,
both fixed broadband services for domestic activities
and mobile data, which are the main factors in the
telecommunication industry development.
Another factor that improved the telecommunications
industry performance was the consolidation of two major
operators in Indonesia, namely Indosat Ooredoo and Tri
Hutchison, to become Indosat Ooredoo Hutchison (IOH).
This consolidation reduced the number of operators,
which we expected to stabilize competition and improve
Indonesia’s telecommunications industry’s health.
86
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS In addition, with the beginning of the 5G network
in Indonesia, we hoped it could accelerate digital
transformation and meet various digital needs, such
as video streaming, games, content, and other data-
based applications. Completing the migration of
analog to digital TV in December 2022 will also provide
the required spectrum to maximize the existing 5G
network. We hope it will accelerate the internet network
distribution in Indonesia and succeed national digital
transformation program.
Indonesia, with 274 million population, has become
Southeast Asia’s most enormous digital economic
power. The 2021 SEA economy report states that
Indonesia’s digital economy is valued at US$ 70 billion,
outperforming neighbouring countries in Southeast Asia.
It even predicted that it would double to US$146 billion
in 2025. The e-commerce sector, online transportation,
and food ordering services mainly drive these business
opportunities. In addition, other sectors are also starting
to show great potential for further growth. This potential
market has encouraged operators to develop a digital
business besides the conventional business as data and
voice services. To capture this opportunity, Telkomsel has
started this step by creating a separate subsidiary of PT
Telkomsel Ekosistem Digital or INDICO.
It
INDICO is a holding company that optimizes Telkomsel’s
assets and capabilities and becomes a leading platform to
create the flywheel effect innovations that will accelerate
Indonesia’s digital economy.
is also Telkomsel’s
determination to expand its digital business portfolio
and proof to build an inclusive and sustainable digital
ecosystem. It is by implementing Telkomsel’s digital
trifecta: Digital Connectivity, Digital Platform, and Digital
Services. To encouraging its development in the first
wave, INDICO will focus on three digital industry sectors,
such as edu-tech (Kuncie), health-tech (Fita), and gaming
(Majamojo).
INDICO will also accelerate the presence of genuine
digital talent, which focuses on the collaboration of cross-
sector start-ups, investors, and stakeholders in the digital
industry to have a more significant impact on the national
digital economy through several
initiatives, which
include partnerships with Agate, one of the largest game
developers in Indonesia. This collaboration will encourage
the penetration of local games and open up potential
opportunities for local creators and talents to contribute
to the Indonesian game ecosystem development.
TELECOMMUNICATION
INDUSTRY COMPETITION
in
Digital telecommunications has become people’s primary
choice nowadays. These conditions have encouraged
telecommunications operators’ competition to switch to
digital transformation. TelkomGroup, as a digitalization
locomotive
in
comprehending market potential and opportunities to
expand its businesses. Telkom will still commit to being
the market share leader in the telecommunications
industry. Hence, Telkom remains focused on the three
business domains: digital connectivity, digital platforms,
and digital services.
Indonesia, will still be proactive
MOBILE BUSINESS
In 2022, Telkomsel remained the largest cellular provider
in Indonesia with 156.8 million subscribers and 49.5%
market share, higher than Indosat Ooredoo Hutchison
(IOH), and XL Axiata. As of December 2022, SIM card
penetration in the cellular industry has grown by reaching
more than 100% with 316.5 million subscribers, increased
6,6% compared to the last period. Data traffic showed
significant growth, while voice and SMS continued
declining. We predict this downward trend will continue
due to the increase in smartphones that substitutes
traditional voice and SMS services to Over the Top (OTT)
services. Responding to the inclining trend, Telkomsel
changed its strategy scheme from pay-as-you-use (PAYU)
to a personalized package, enhanced the subscribers’
market segmentation, and improved the diversification
initiative through Broadband and Digital Service.
FIXED BROADBAND & FIXED VOICE
BUSINESS (FIXED BUSINESS)
Until the end of 2022, Telkom remained the largest fixed
broadband business operator in Indonesia through the
IndiHome brand with 9.2 million subscribers and 75.2%
market share. The main competitors in this business are PT
Link Net Tbk (First Media), PT Supra Primatama Nusantara
(Biznet Home), PT Eka Mas Republik (My Republic), PT
MNC Kabel Mediacom (MNC Play), PT XL Axiata (XL Home
Fiber), and several newcomers that should be considered,
such as Cyberindo Aditama (CBN Fiber) and PT Oxygen
Multimedia Indonesia (Oxygen.id). In addition, Iconnet,
formed by a subsidiary of PT Perusahaan Listrik Negara
(PLN), and Gasnet from the State Gas Company (PGN) are
also new competitors. Even though dealing with many
competitors, Telkom is optimistic about being the leader
with its coverage and infrastructure across Indonesia.
87
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk DATA CENTER BUSINESS
NETWORK AND SATELLITE
INFRASTRUCTURE BUSINESS
The infrastructure business line, particularly for towers,
is managed by Telkom’s subsidiaries, Mitratel and
Telkomsel. Some of the main competitors in the tower
business include Tower Bersama Infrastructure, Tunas
Pratama Solutions, PT Profesional Telekomunikasi
Indonesia, Indosat, and XL Axiata. Mitratel implements an
organic strategy through the new towers’ construction or
co-locations to serve cellular operators and an inorganic
strategy
the
TelkomGroup and acquisition from other tower providers.
tower consolidation within
through
Telkom’s customers in the satellite business are across
the Asia Pacific region, especially Southeast Asia. The
satellite service provides cellular backhaul, broadband
backhaul, enterprise network, TV on demand, military and
government networks, video distribution, DTH television,
aviation communications, and disaster recovery. Telkom
competes with other operators who already have satellites
and are currently developing satellites in Southeast
and South Asia. Telkom has two satellites: the Telkom-
3S Satellite, which operates in the 118°E orbital slot, and
the Merah Putih Satellite in the 108°E orbital slot. Telkom
via Telkomsat also plans to place a satellite in the 113°E
orbit slot with the latest High Throughput Satellite (HTS)
technology, which has obtained usage rights in 2021.
DIGITAL BUSINESS
The digital business will still be competitive with the
acceleration of information technology and digitization.
Several big competitors have penetrated vertical
industries, such as
logistics, e-commerce, financial
services, and travel, so the time to lead the market is
getting shorter.
Therefore, Telkom develops digital products according
to the requirements. Telkom orchestrates its digital
products through synergies with existing businesses
and establishes partnerships with competent parties in
vertical industries and investors to accelerate the scale of
its digital business.
Telkomsel has taken steps to develop its digital business
by establishing a separate subsidiary, namely PT
Telkomsel Digital Ecosystem or INDICO. INDICO is an
aggregator from Telkomsel in the digital business. In this
early stage, the Company will focus on the health tech,
edutech, and gaming sectors. In addition, Telkom has
also developed a digital company, DigiCo, that focuses on
the B2B and B2C business segments.
Telkom’s data center has been integrated and supported
by domestic and global networks with comprehensive
service features designed to be flexible, modular, seamless,
and scalable. Telin, a subsidiary of Telkom that provides
global data centers, competes in the international market
with other data center providers in Singapore and Hong
Kong. In the domestic market, Telkom Data Ecosystem
(NeutraDC), a Telkom subsidiary that manages the data
center portfolio, owns and operates Hyperscale Data
Centers in Cikarang, Enterprise Data Centers in Serpong,
Sentul, and Surabaya, and manage the operation of
Edge Data Centers owned by Telkom. Telkom competes
with several companies that have also established data
centers, DCI Indonesia, Indosat Ooredoo, Moratelindo, IDC
Indonesia, BDx, Atria, Princeton DG, NTT Communication,
EdgeConnex, and Biznet.
The Data Center business is one of the pillars of the Telkom
Group’s digital platform business growth. Telkom sees
rapid technological developments in data centers, with
the potential growth for data center business in Indonesia
estimated at 33% based on the 10-year Compound Annual
Growth Rate (CAGR). This figure is one of the highest in
Asia. Therefore, Telkom strives to develop the data center
business so that it can become one of Telkom’s growth
engines in the future.
INTERNATIONAL TRAFFIC AND
INTERCONNECTION BUSINESS
Traditional IDD (non-VoIP) of international traffic service
operators in Indonesia are currently only Telkom and
Indosat. This business line is getting more competitive
with the presence of OTT and digital communication
services such as Line, WhatsApp, and Skype, which
provide VoIP services that can open international access,
resulting in a decrease in Telkom’s revenue from this
line. To address these challenges, Telkom
business
positions OTT as a customer, partner and/or competitor
through connectivity services, data centers and Content
Delivery Network (CDN) for OTT which could increase
profits for the Company.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS OPERATIONAL OVERVIEW
BY BUSINESS SEGMENT
Mobile
Consumer
Enterprise
Wholesale &
International
Business
Others
Provides mobile voice,
SMS, mobile data
service, and mobile
digital services.
Provides high-speed
internet connection
for fixed voice, fixed
broadband, IP-TV, and
digital services.
Provides enterprise
connectivity, satellite,
and digital platform
system for corporate,
institutional, and
business customers.
The largest cellular
network operator in
Indonesia covering
more than 99%
population and
supported by 265,194
total BTS.
As of December 31,
2022, it had 9.2 million
IndiHome subscribers,
increased by 7.1% from
the previous year.
As of December 31,
2022, became the
market leaders by
serving clients of
1,481 companies,
377,894 MSME and
934 Government
institutions.
Provides domestic
and international
services of wholesale
traffic, wholesale
network, wholesale
digital platform &
service, data center,
tower, and managed
infrastructure &
network.
Provides services in 12
countries with 1 office
in Indonesia and 9
Telin’s global and 2
sales representative
offices operating
overseas.
Provides digital
payment solutions, big
data & smart platform,
digital advertising,
music, gaming, and
e-commerce.
As of December 31,
2022, it had 29 million
active users of Digital
Music and 21.9 million
paid users of Digital
Games.
PT Graha Sarana Duta (Telkom Property) performs asset leverage and increase the income with
the services of property developer, leasing, facility, and management.
89
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk SEGMENT PERFORMANCE HIGHLIGHTS
Social distancing during the COVID-19 pandemic further encouraged digital transformation. It was a business
opportunity for TelkomGroup to adjust its business development to meet people’s digital needs, particularly
broadband services. Financial performance during 2022 showed positive results due to increased demand for digital
services. In general, all business segments recorded good performance, with the Mobile segment dominating the
most contribution by 45.1%.
The Mobile segment contributed the highest revenue for TelkomGroup of Rp88,837 billion. Then the Enterprise
segment contributed to the second highest revenue of 22.2% or Rp43,807 billion, followed by the Wholesale and
International Business (WIB) of 17.8% or Rp35,100 billion and the Consumer of 13.5% or Rp26,549 billion, while the
Others provided the least contribution of 1.4% or Rp2,725 billion.
Telkom’s Results of Operation by Segment
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Growth
Years ended December 31
1.5
8.0
1.7
85,493
3,344
88,837
5,491
84,267
83,720
215
3,097
5,706
87,364
3,297
87,017
18.5
(62,715)
(4,028)
(52,929)
(54,051)
(24.1)
26,122
1,678
34,435
32,966
5.7
4.3
5.7
(1.3)
28.6
0.1
10.1
5.5
2.7
26,354
1,693
24,930
20,957
195
26,549
13
1,705
187
25,117
1,148
22,105
(18,970)
(1,218)
(19,223)
(17,544)
7,579
487
5,894
4,561
19,161
24,646
43,807
1,231
1,583
2,814
19,141
22,395
17,729
18,591
41,536
36,320
(42,976)
(2,760)
(41,843)
(36,864)
370.7
831
53
(307)
(544)
Mobile
Revenues
External revenues
Inter-segment revenues
Total segment revenues
Total segment expenses
Segment results
Consumer
Revenues
External revenues
Inter-segment revenues
Total segment revenues
Total segment expenses
Segment results
Enterprise
Revenues
External revenues
Inter-segment revenues
Total segment revenues
Total segment expenses
Segment results
90
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS Telkom’s Results of Operation by Segment
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Growth
Years ended December 31
WIB
Revenues
External revenues
Inter-segment revenues
Total segment revenues
Total segment expenses
Segment results
Others
Revenues
External Revenues
Inter-segment revenues
Total segment revenues
Total segment expenses
Segment results
8.3
8.8
8.6
13.1
15,442
19,658
35,100
992
1,263
14,255
18,072
13,501
16,139
2,254
32,327
29,640
(26,175)
(1,681)
(23,135)
(23,143)
(2.9)
8,925
573
9,192
6,497
16.6
3.8
4.8
57.8
239
2,486
2,725
(3,788)
634.2
(1,063)
15
160
175
(243)
(68)
205
2,395
2,600
219
1,550
1,769
(2,401)
(1,662)
199
107
91
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk OPERATIONAL HIGHLIGHT
SUBSCRIBERS
Cellular Subscribers 1)
Telkomsel Halo
Telkomsel Prabayar
Broadband Subscribers
Fixed broadband IndiHome 2)
Mobile broadband 3)
INFRASTRUCTURE
Satellite Capacity4)
Point of Presence
Domestic
International
BTS
BTS 2G
BTS 3G
BTS 4G
BTS 5G
Tower
Fiber Optic Backbone Network
Domestic
International
Wi-Fi Services
Unit
Year Ended on December 31
2022
2021
2020
(000) subscribers
(000) subscribers
(000) subscribers
(000) subscribers
(000) subscribers
(000) subscribers
TPE
PoP
PoP
PoP
unit
unit
unit
unit
unit
unit
km
km
km
access point
156,812
7,111
149,702
130,119
9,212
120,907
109
122
64
58
265,194
50,158
49,632
165,120
284
40,588
173,266
108,566
64,700
391,317
175,977
7,201
168,776
169,542
6,496
163,046
129,117
123,954
8,601
120,516
8,016
115,938
109
120
62
58
251,116
50,241
63,149
137,613
113
36,761
170,885
106,185
64,700
133
117
59
58
231,172
50,252
73,397
107,523
n/a
35,822
167,935
103,235
64,700
390,976
386,856
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
CUSTOMER SERVICE
PlasaTelkom5)
Plasa Telkom Digital
GraPARI
International
Domestic
GraPARI
GraPARI TelkomGroup
GraPARI Mobile
IndiHome Sales Car
EMPLOYEES
Unit
location
location
location
location
location
location
location
unit
unit
People
Year Ended on December 31
2022
2021
2020
387
22
372
0
372
363
9
0
750
23,793
387
22
414
18
396
387
9
174
750
408
16
431
19
412
403
9
365
896
23,756
25,348
Remarks:
1) Since June 2021, the cellular brand has changed to Telkomsel Halo for postpaid and Telkomsel Prabayar for prepaid services.
2)
IndiHome fixed broadband is a product that allows customers to choose one or more Consumer segments portfolios such as fixed telephone, fixed
broadband, and IPTV services, including digital consumer services.
3) Mobile broadband includes Flash users, Blackberry users, PAYU, and Home LTE.
4) Telkom operates two satellites, namely Telkom-3S and Merah Putih Satellite, after the Telkom-2 satellite de-orbited since May 2021.
5) PlasaTelkom outlet is a face-to-face service consisting of GraPARI TelkomGroup, Plasa Telkom Digital, and other Plasa across Indonesia.
Telkom’s operational performance in 2022 started with a decline of cellular subscribers from 176.0 million subscribers
in 2021 to 156.8 million subscribers in 2022 or decreased 10.9%, resulted from healthier industry initiative and focusing
on sustainable growth and more quality subscribers. Meanwhile, the number of broadband subscribers grew from
129.1 million subscribers in 2021 to 130.1 million subscribers in 2022. Fixed broadband IndiHome subscribers increased
from 8.6 million in 2021 to 9.2 million subscribers in 2022. This growth trend will continue due to the transition towards
broadband-based digital telecommunications.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
MOBILE SEGMENT
Data traffic 2022 increased
by 18.7% to 16.4 million TB
265,194 total BTS with:
50,158 2G BTS; 49,632 3G BTS
165,120 4G BTS; 284 5G BTS,
increased 14,078 BTS of total
BTS.
The products and services of the Mobile segment consist
of mobile voice and SMS, mobile data services, and
mobile digital services. For cellular services, TelkomGroup,
through Telkomsel, carries GSM, 3G, 4G/LTE, and 5G
technology officially launched on May 26, 2021, and
currently has more than 40 points across Indonesia.
4. Telkomsel Orbit
Telkomsel Orbit is a home broadband internet service
with a Wi-Fi modem connected to cellular network
infrastructure with the flexibility for users to buy a
data package.
The following are Telkomsel’s products and services:
1. Telkomsel Halo
It is a postpaid cellular telecommunication product and
service that prioritizes network quality, communication
experience, and entertainment. Telkomsel Halo comes
in a wide selection of comprehensive packages with
exclusive advantages.
2. Telkomsel PraBayar
It is the new brand launched in June 2021 by combining
prepaid services from simPATI, Kartu As, and LOOP.
Telkomsel Prepaid integrates products and services to
provide convenience for customers.
3. by.U
It is the end-to-end digital prepaid products and
services presented in the by.U digital application,
including the entire service process from selecting
delivery options, by.U phone numbers, internet quota,
additional quota (topping), and payment.
MOBILE SEGMENT CAPACITY
AND DEVELOPMENT
As of the end of 2022, TelkomGroup’s cellular subscribers
were 156.8 million, decreased 10.9% compared to the
previous year. There were 95.5% prepaid and 4.5%
postpaid subscribers. Prepaid users recorded at 149.7
million or decreased by 11.3%, while postpaid users
recorded 7.1 million or decreased by 1,2%. The subscribers’
decrease was due to the healthier industry initiative
and focusing on sustainable growth and more quality
subscribers. TelkomGroup also keeps building reliable
network capacity to remain the customer’s choice.
TelkomGroup, through Telkomsel, continues to maximize
5G services that can improve digital connectivity, digital
platforms, and digital services in Indonesia, as well as
develop future technology solutions such as artificial
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
intelligence, cloud computing, and the Internet of Things.
It was by the investments included in the roadmap plan,
and the implementation will be in stages based on
several considerations, including the readiness of the
connectivity ecosystem.
For mobile broadband services, there was a subscriber
increase by 0.3% or to 120.9 million subscribers in 2022,
while the data used increased by 18.7% to 16.4 million TB.
This increase was due to the portfolio expansion of digital
services to support the transformation while beginning
to adopt the digital lifestyle. In addition, Telkomsel Orbit is
a fixed wireless service with a 4G and 5G network.
Cellular Traffic Data (TB) in 2020-2022
16,426,853
13,837,050
9,654,742
2022
2021
2020
Telkom develops digital mobile services with video content, music, games, and fintech. Telkom strengthens
MAXstream’s position in the video streaming industry by partnership with strategic content provider. Telkom also
provides streaming services LangitMusik and Telkomsel Dunia Games, which combine media content, distribution,
payment, e-sports, and game publishing.
To strengthen Telkom’s position as the leading network operator in Indonesia, Telkom had upgrades initiative its 3G
and 4G service gradually and built 27.5K new 4G BTS in 2022 to support 4G/LTE services in various cities. Until the end
of 2022, Telkom has had a total of 165,120 4G BTS, covering more than 96% population throughout Indonesia.
Total TelkomGroup BTS (Units) in 2020-2022
50,158
49,632 165,120
284
50,241
63,149 137,613
113
50,252
73,397 107,523
-
2022
2021
2020
2G
3G
4G
5G
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk MOBILE SEGMENT FINANCIAL PERFORMANCE
The Mobile segment revenue was still the main contributor to TelkomGroup’s consolidated revenue of Rp88,837 billion
in 2022. The following table provides information on the performance of the Mobile segment over the last three years.
Mobile Segment
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Revenues
Expenses
Result
1.7
18.5
88,837
5,706
87,364
87,017
(62,715)
(4,028)
(52,929)
(54,051)
(24.1)
26,122
1,678
34,435
32,966
The Mobile segment revenue from subsidiary Telkomsel was Rp88,837 billion, increased by Rp1,473 billion or 1.7%
compared to the last year of Rp87,364 billion while operating expenses in this segment increased by Rp9,786 billion or
18.5%. The increase in revenue was due to customer behavior transition from voice to data and OTT services.
Internet and cellular data revenues increased 7.0% or became Rp69,006 billion in 2022. This result shows an increase in
people’s mobile data usage during the COVID-19 pandemic. Overall, the Mobile segment still made an Rp26,122 billion
profit.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS CONSUMER SEGMENT
9.2 million IndiHome
15.3 million optical ports
subscribers, increased
as broadband access based
7.1% from the previous year
on optical fiber
The Consumer segment consists of fixed voice, fixed
broadband,
IP-TV, and digital services under the
IndiHome brand. The demand for IndiHome increased
during the COVID-19 pandemic when people did their
most activities at home. IndiHome subscribers in 2022
increased 7.1% compared to last year, from 8.6 million
to 9.2 million subscribers. Meanwhile, average revenue
per user (ARPU) was 270 thousand, consistently from
previous year.
CONSUMER SEGMENT
CAPACITY AND DEVELOPMENT
IndiHome’s developed strategically to retain its customers,
including bundling programs for broadband internet, IP-
TV, and fixed telephones, sales through digital channels,
and varied promotions every year. Telkom also provides
special packages for online learning activities (“Special
Packages for Students, Teachers, and Journalists”).
In addition, Telkom develops products and technology
to meet the customers’ aspirations and needs. In 2022,
there was a collaboration with Netflix to provide Netflix
services through IndiHome, a cloud recording service as
an add-on through IndiHome Eazy. It stores IP camera
recording data on a cloud server to be safe, secure, and
easily accessible to customers. Telkom has also created
an Ultra Wi-Fi product that provides a broader range of
Wi-Fi for IndiHome customers with extensive residential
areas or high-rise buildings.
IndiHome, through IndiHome TV, maintains its position
as Indonesia’s most complete and largest TV channel
provider. IndiHome TV is our pay TV service bundled into
IndiHome internet service for Android TV box devices
and enriched by the Google Ecosystem. Our pay TV
service includes multiple linear TV channels, TV-on-
demand (catch-up TV), video-on-demand (VoD), and 14
OTT services to enrich IndiHome as an “Entertainment
Window.” These OTT services consist of non-video OTT
such as Gameqoo, Langitmusik, and IndiHome Karaoke,
as well as video OTT services such as Netflix, Disney+
Hotstar, Lionsgate Play, Viu, Catchplay+, Mola, WeTV, Iflix,
Vidio, Vision+, and IndiHome TV App. In addition, it also
extended to the IndiHome TV mobile app and website
indihometv.com (rebranded in December 2022 from
UseeTV Go app and useetv.com) to enable our users to
have OTT experiences, enjoy multi-screen, and access
video content anywhere and anytime. IndiHome TV has
more than 1 million active users.
As part of our commitment to provide the best experience
to customers, IndiHome TV now provides full high-
definition channels, including 149 high-definition and
5 Dolby channels. In addition, customers can navigate
menus conveniently, enjoy their favorite content directly
accessed via deep-link and selection, and find their
content from OTT applications available on the IndiHome
TV service.
In 2022, we continued to enrich and expand our inventory
with world-class sports content, such as the 2022 FIFA
World Cup Qatar in partnership with Vidio, Badminton
World Federation (BWF), and Grand Prix motorcycle
racing (MotoGP) via SPO TV and SPO TV 2 channels. In
addition, IndiHome continued to collaborate with leading
partners to provide programs on our in-house channels,
such as Liga 1, the national futsal competition “Futsal
Challenge,” the Children’s Talent Show “Panggung
Kamulah Bintang,” K-Pop Dance Cover Competition,
International Badminton Junior Competition, Studio
Dangdut, etc.
The quality improvement of IndiHome services was
still challenging in 2022. We strive to provide the best
customer experience and convenience in using IndiHome
products. We tried implementing one of the strategies by
updating the myIndiHome application. This application
offers solutions and conveniences for customers to
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk manage IndiHome services and transactions via a mobile
app. Customers can also easily apply for new installations
and repairment to IndiHome services, such as setting
technician schedules and monitoring the progress. We
have developed the myIndiHome application based
on customer feedback and internal business process
improvements to provide the best digital customer
experience. Later, it will be equipped with a biometric
feature of facial recognition so that customers can access
the application faster.
As of December 31, 2022, we had approximately 9.2 million
IndiHome fixed broadband subscribers, representing
about 75.2% market share in Indonesia. We also offer
the wifi.id service to IndiHome customers, an additional
service that allows customers to enjoy unlimited internet
access at all wifi.id access points in Indonesia. wifi.id
stands for Indonesia Wi-Fi, our wireless public internet
network for enjoying high-speed internet and other
multimedia services.
Another challenge was increasing ARPU and reducing
churn. Network infrastructure reliability is one of the
success keys to overcoming this challenge. As of the
end of 2022, Telkom had 15.3 million optical ports with
optical fiber, which is the basis of the fixed broadband
access network. The optical fiber (T-Cloud) usage in
2022 has reached 1,128 T-Cloud. We also continuously
improved Mean Time To Install (MTTI) and Mean Time To
Repair (MTTR) by increasing the capacity of technicians
and improving business processes. Through the Telkom
Access Command Center, Telkom can manage access
networks digitally with integrated controls and detect
potential disruptions promptly so that they can repair
immediately.
CONSUMER SEGMENT FINANCIAL PERFORMANCE
The Consumer segment revenue has contributed 13.5% to TelkomGroup’s consolidated revenue. The following table
shows the performance of the Consumer segment for the last three years.
Consumer Segment
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Revenues
Expenses
Result
5.7
(1.3)
28.6
26,549
1,705
25,117
22,105
(18,970)
(1,218)
(19,223)
(17,544)
7,579
487
5,894
4,561
The increase in the IndiHome subscribers has improved the Consumer segment revenue of Rp26,549 billion, increased
by 5.7% or Rp1,432 billion compared to last year of Rp25,117 billion. Expenses on the Consumer segment was Rp18,970
billion, decreased by 1.3% or Rp253 billion compared to the previous year. Thus, the Consumer segment recorded a
profit of Rp7,579 billion. IndiHome’s profitability was improved, with EBITDA margin reaching 50%.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS ENTERPRISE SEGMENT
1,481 corporate customers,
377,894 MSME customers, and 934
government institution customers
2 satellites with 109 TPE
capacity
In the Enterprise segment, Telkom provides ICT and
platform services to provide end-to-end solutions and
the information technology ecosystem consisting of
enterprise-grade connectivity services, satellite, cloud,
digital IT services, business process outsourcing, and
device & other adjacent services. Customers for this
segment are corporations, micro, small and medium
enterprises (MSMEs), and government institutions.
ENTERPRISE SEGMENT
CAPACITY AND DEVELOPMENT
We maintain the Enterprise segment performance
following our strategy to focus on recurring business
lines with higher profitability, particularly on enterprise
solutions services such as enterprise connectivity, data
center, and cloud.
Enterprise connectivity
services consist of fixed
broadband, Wi-Fi, ethernet, and data communication,
including leased channels, i.e., metro ethernet, VPN-IP,
and high-capacity data network solutions that provide
point-to-point connections and fixed voice services. In
2022, TelkomGroup provided bandwidth in service of 3,156
Gbps, with 1,554 Gbps for corporate internet and 1,602
Gbps for data communication customers. It increased
3.5% from the last year.
To support connectivity services, through its subsidiary
Telkomsat, Telkom has integrated satellite services with
the transponder capacity of 109 TPE and rents from
third parties with a capacity of approximately 40.36 TPE.
Customers can rent satellite transponder capacity for
broadcasting and VSAT operators, cellular telephones,
and ISPs and experience earth station satellite up-link
and down-link services. Later, Telkom plans to launch
High Throughput Satellite (HTS) which is considered
suitable to serve satellite broadband subscribers.
The launch of the FLOU cloud service in 2020 has
successfully achieved customer hybrid cloud demands
with flexible package options for the MSME/SME, startup,
SOE, enterprise segments, and the Government. In
2022, Telkomsigma implemented a strategic initiative
through FLOU New Expansion and Capability. FLOU,
as Telkomsigma’s new growth engine, focuses on
progressing FLOU 2.0 New Expansion and Capability
to improve cloud performance. In 2022, TelkomGroup
could service acquired Rp324.8 billion through various
national projects, such as PeduliLindungi, SIAP Online,
e-Tilang, International Certification Vaccines, and other
projects that use FLOU’s capabilities or strategic business
partnerships with hyperscalers.
To support MSMEs amid digitalization developments,
Telkom launched the application of mysooltan, a Digital
Touch Point specifically designed to help MSMEs prepare
and accelerate digital transformation. It is easy for
MSMEs to run their business with various services, such
as internet sooltanNet, business applications sooltanPay,
sooltanKasir, and sooltanToko. We have developed this
application based on user input to be more suitable for
their needs.
For system integration and IT service management
services, TelkomGroup provides business process
management, business process as-a-service, and
customer relationship management. We are also
developing a digital advertising agency through media
placements and integrated digital media, such as mobile
advertising, online advertising, and digital printing. We
have developed platforms to support these services that
provide consumer behavior insight to create marketing
campaigns based on big data and data analytics.
TelkomGroup also provides various hardware and
software sales services, including its IT support services.
TelkomGroup also provides IoT solutions for buildings and
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk develops IoT applications for smart energy monitoring
management, fleet management, IT security services,
unified communication, and collaboration services.
We have a fiber-optic-based infrastructure network
with comprehensive coverage as the advantage of our
services in the Enterprise segment. Thus, TelkomGroup
will continue to innovate and manage products and
services that can provide total solutions for customers.
Until the end of 2022, the Enterprise segment has 380,309
customers consisting of 1,481 corporate, 377,894 MSMEs,
and 934 Government institutions.
We also have developed products, solutions, customer
experience, and new brand experience in stages in 2022.
Internal HR and supporting infrastructure competency
improved by obtaining
have also
ISO 27001-17/18
Certification and CSA Star & PII Related Certification
to increase customer trust and be more competitive in
the Indonesian cloud market. In 2022, we focused on
professional services for the financial, manufacturing,
government, and communications sectors, as we expect
this segment to experience significant growth. We use
our resources and partner with global cloud players to
provide them with professional cloud management
and consulting services. We expected our strategic
collaborations with Amazon Web Services (AWS), Google
Cloud Platform (GCP), Microsoft Azure, and Alibaba Cloud
would meet workload needs in various industries such
as MSMEs, startups, State-Owned Enterprises (SOEs),
enterprises, and government.
ENTERPRISE SEGMENT FINANCIAL PERFORMANCE
Enterprise segment revenue contributed 22.2% of the total consolidated revenue in 2022. The performance of
Enterprise segment for the past three years can be seen in the following table:
Enterprise Segment
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Revenues
Expenses
Result
5.5
2.7
43,807
2,814
41,536
36,320
(42,976)
(2,760)
(41,843)
(36,864)
370.7
831
53
(307)
(544)
Enterprise segment revenue increased by 5.5% or Rp2,271 billion in 2022. It was due to the increase in network revenues
which grew by 32.3% or Rp351 billion, IndiHome revenues by 7.0% or Rp183 billion, and call center service revenue by
12.5% or Rp127 billion, and others revenue in other telecommunication services revenues by 26.4% or Rp273 billion.
These increases were compensated by the decrease in manage service and terminal revenue by 43.5% or Rp891 billion,
while expenses increased by 2.7% or Rp1,133 billion compared to last year. Thus, the Enterprise segment recorded a
profit of Rp831 billion in 2022.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS WHOLESALE AND
INTERNATIONAL BUSINESS
SEGMENT (WIB)
173,266 km
total optical
fiber backbone
network
(108,566 km
domestic and
64,700 km
international)
122 Point of
Presence (PoPs)
(58 international
PoPs & 64
domestic PoPs)
28 data centers
(5 overseas data
centers & 23
domestic data
centers)
40,588 towers
(35,418 Mitratel
towers, 477
Telkom towers,
and 4,693
Telkomsel
towers)
The WIB segment has several business lines for domestic
and international, including wholesale traffic, wholesale
network, wholesale digital platform & service, data
center, tower, and managed infrastructure & network.
Customers for this segment are Other Licensed Operators
(OLO), Service Provider, and Digital Player domestic
and overseas. In 2022, the performance of the WIB
segment was relatively stable. However, TelkomGroup
is still striving to prepare new business innovations and
initiatives to maintain its profitability.
WHOLESALE AND
INTERNATIONAL BUSINESS
(WIB) SEGMENT CAPACITY AND
DEVELOPMENT
1. Carrier Service
This business line provides domestic and international
wholesale traffic and network services, including
voice, data & internet interconnection services and
network services. In addition, this business line also
includes wholesale digital platform and services for
domestic and international, which include A2P SMS
services, platforms, and solutions. During 2022, it grew
positively, contributed by Domestic & International
Network, Internet Traffic, and A2P SMS.
The SMS A2P demand has been increasing due to
customers’ consumption habits transition that uses
more certain applications, which need authentication
and broadcast information to support digital activities
at home.
We developed the Enabler Digital Ecosystem initiative
for supporting Wholesale Network. SEA-ME-WE 5
and SEA-US submarine cables support the delivery
of direct broadband connectivity across Europe, Asia,
and America, and as the main gateway for digital
connectivity bridging domestic traffic to global, global
traffic to domestic, and between countries (hubbing),
both voice and A2P (application-to-person) SMS.
second
TelkomGroup’s
inaugurated the Manado
In 2022, TelkomGroup
Gateway,
international
communication channel after the Batam Gateway. This
digital toll gate is a concrete manifestation of equalized
access to digital telecommunications and information
throughout Indonesia. The Manado Gateway will
be strengthened by the Bifrost submarine cable
construction owned by the TelkomGroup consortium
through Telin with global tech giant.
In the 1Q 2022, TelkomGroup, through Telin, also
joined the
international communication system
consortium of submarine cable of Southeast Asia-
Middle East-Western Europe 6 (SEA-ME-WE 6), with
an approximately of 19,200 km underwater cable
system connecting several countries from Southeast
Asia to Europe. Telin’s participation
in SEA-ME-
WE 6 will strengthen TelkomGroup’s international
cable infrastructure to improve the quality of faster
broadband access and provide the best digital
experience for customers.
On the other hand, TelkomGroup has 122 Points of
Presence (PoP), consisting of 58 Global PoPs in 27
countries and 64 Domestic PoPs in 49 cities. In 2022,
Telkom added 2 Domestic PoPs.
Another service is the Content Delivery Networks
(CDN) operation with a capacity of 14,572 Gbps, which
increased by 19.3% compared to last year.
2. Data Center Service
TelkomGroup strives to strengthen Indonesia’s digital
ecosystem by developing a data center ecosystem. It
aims to support the transformation & development
of the digital economy and assist various domestic
and international industries in growing their business,
including finance, manufacturing, and
cloud
computing service providers.
In 2022, TelkomGroup
implemented a business
consolidation strategy of the data center into one
managing entity of PT Telkom Data Ecosystem
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
(NeutraDC) to strengthen the data center business as
one of the growth engines. NeutraDC has an essential
role as a digital ecosystem enabler that provides neutral
data center infrastructure in global standard with the
best and most extensive network connectivity to ensure
business continuity and scalability for international
and domestic Digital Players/Hyperscalers and the
Enterprises & Government segment. The consolidation
is by management transfer of 3 Enterprise Data
Centers located in Sentul, Serpong, and Surabaya from
Telkomsigma to NeutraDC. Thus, NeutraDC manages
3 Enterprise Data Centers and 1 Tier 3 and 4 Hyperscale
Data Center (HDC)
in Cikarang. HDC Cikarang’s
capacity will gradually increase until it reaches the
total designed IT Load Capacity of 51 MW.
Mitratel, as a subsidiary of Telkom, has a significant role
in supporting the increase in tower leasing revenue.
TelkomGroup expects Mitratel would support the
national digitalization acceleration for the upcoming
5G era and achieve the nation’s objective: to become a
country with the most prominent digital economy by
2025, especially in the Asia Pacific.
4. Infrastructure Services and Network Management
TelkomGroup provides network infrastructure and
management services, including the construction and
maintenance of the network, consisting of installing
and maintaining submarine cables and energy
solutions.
TelkomGroup has a fiber optic backbone network of
173,266 km, consisting of 64,700 km of the international
network and 108,566 km of the domestic network with
each capacity of 73,635 Gbps and 148,100 Gbps. Telkom
also operates and owns the license for the fiber optic
backbone network with a total of 134,040 km under a
long-term telecommunications lease agreement with
other global submarine cable operators/consortiums.
through
For submarine cable deployment and maintenance,
Telkom,
its subsidiary of Telkominfra,
improves its capability by collaborating with the
vessel’s provider of the submarine cable or the
procurement to increase TelkomGroup’s assets. While
for the energy solutions, Telkominfra cooperates with
State-Owned Enterprises (SOEs) to maintain diesel
engines for telecommunications networks until 2022
in Kalimantan and June 2023 in Sulawesi.
5. International Business
the sales
representative
Telkom, through its subsidiary Telin, manages and
develops its business activities in Singapore, Hong
Kong, Timor Leste, Australia, Myanmar, Malaysia,
Taiwan, the United States of America, and Dubai,
including
in UK and
Philippines that started the operation in 2022 based
on the region. Telin provides wholesale services, cloud,
and connectivity, data center and managed services,
retail mobile services (MNO and MVNO), IP transit, and
digital platform & services. Telkom regularly analyzes
and assesses overseas operations for profitability,
prospects, and position to optimize the portfolio
structure and global market access.
At the end of 2022, TelkomGroup operated a total of 28
data centers in all operational areas, namely 5 overseas
data centers located in Singapore (Telin-1, Telin-2,
and Telin-3), Timor Leste (1 location), Hong Kong (1
location), and 23 domestic data centers consisting
of 19 NeuCentrIX data centers, 3 Enterprise Data
Centers and 1 Hyperscale Data Center. Average data
center occupancy rates abroad are around 86%, while
neuCentrIX data center occupancy averages 71% of
total capacity.
In December 2022, Telkom, through NeutraDC, started
the groundbreaking of the Hyperscale Data Center
in Batam. NeutraDC will work with global strategic
partners to develop HDC Batam, which will be built
on an approximate area of 8 hectares with a total of 3
campuses by world-class data center standards with a
total IT load capacity of 51 MW.
The presence of HDC Batam is a definite step for
TelkomGroup to strengthen its position as a significant
data center business player in the region. HDC Batam
will serve not only various business needs in Indonesia
but also could capture potential spillovers from other
countries.
3. Tower Service
TelkomGroup serves the procurement and installation
of telecommunication devices for other operators with
a leasing system. TelkomGroup, through Mitratel, will
create offers for the co-location and reseller business of
the operator’s tower. Mitratel manages 52,006 tenants
and 2,818 reseller towers. As of 2022, TelkomGroup
managed 40,588 towers, with 35,418 towers of Mitratel,
477 towers of Telkom, and 4,693 towers of Telkomsel.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
Telin uses the new data center capacity and develops
service with omnichannel
cloud-based CPaaS
communication features (bots and live chat, real-
time voice capabilities, SMS, emails, video calls, and
messaging service). In addition, Telin through the
NeuTrafiX launch, a web-based B2B marketplace
platform, has helped connect buyers and sellers
efficiently and
transaction of
transparently
wholesale voice, SMS, and virtual numbers trading.
for
WIB SEGMENT FINANCIAL PERFORMANCE
The WIB segment contributed 17.8% to the total consolidated revenue. Throughout the year, most of WIB’s income
was from providing various services, i.e., network, interconnection, internet, submarine cable, data center, tower, and
infrastructure. WIB has a significant role in TelkomGroup, as an enabler and catalyst for other business segments to
create value.
WIB Segment
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Revenues
Expenses
Result
8.6
13.1
(2.9)
35,100
2,254
32,327
29,640
(26,175)
(1,681)
(23,135)
(23,143)
8,925
573
9,192
6,497
WIB segment revenue in 2022 increased by 8.6% or Rp2,773 billion compared to the previous year. This increase was
due to the revenue growth from internet, data communication, and information technology services by 8.4% or Rp172
billion and interconnection revenue by 10.4% or Rp768 billion. The expenses incurred for the WIB segment increased
by 13.1% or Rp3.040 billion compared to last year. At the end of 2022, the WIB segment recorded an Rp8,925 billion
profits.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
OTHERS SEGMENT
29 million Digital Music
21.9 million Digital Games
active users
paid users
Telkom offers a variety of digital products and services
based on big data, smart platforms, digital advertising,
digital entertainment (music & games), and e-commerce.
In addition, Telkom also manages venture capital funds
through PT Metra Digital Innovation (MDI Ventures),
which it invested in several digital startups in 2022 that
have growth potential in the future and can enhance
TelkomGroup’s business performance.
OTHERS SEGMENT CAPACITY
AND DEVELOPMENT
Telkom’s big data and smart platforms services are
the BigBox and IoT platforms under the Antares for
Enterprise segment customers. BigBox is a big data
platform with analytic services, data & business solutions,
and an API provider platform to help developers and
startups grow their businesses. Regarding the IoT smart
platform, Telkom works on projects that can improve
people’s productivity and quality of life, such as Smart
Manufacturing, Air Pollution Monitoring, Smart Electricity,
Waste Management, and others.
Telkom provides digital advertising services with the
Uzone.id news portal and an ad exchange service platform
called UAd, which brings together publishers, advertisers,
and agencies so that digital advertising activities can be
effective and efficient.
Telkom, with its subsidiary PT Nuon Digital Indonesia,
manages digital entertainment, which provides digital
music services of ring backtones under the Nada
Sambung Pribadi (NSP), music streaming under the
Langit Musik, and game payment services under UPoint.
Digital music services have 29 million active users (14.7
million from music streaming and 14.3 million from NSP)
with 136 million transactions (47 million from music
streaming and 88.9 million from NSP) in 2022. Meanwhile,
PT Nuon Digital Indonesia recorded 197.6 million game
payment transaction, with 21.9 million paid digital games
users.
Telkom also launched e-commerce platforms, including
Pasar Digital (PaDi) for MSMEs, Xooply for the non-SOE
Enterprise segment, Agree (agriculture and fisheries
ecosystem), Logee
(logistics ecosystem), Wonderin.
Id (tourism ecosystem), Pijar (educational ecosystem),
Gameqoo (games), and others. In addition, Telkomsel
to strengthen strategic
collaborates with Gojek
partnership initiatives and accelerate the digitalization of
MSMEs. The initiatives undertaken are:
1. Collaborate to increase Telkomsel users in the Gojek
ecosystem.
2. Easy onboarding for Gojek’s MSME partners to become
Telkomsel reseller partners.
3. Easy access to Telkomsel outlets and resellers via
GoShop.
4. Improve customer experience
in Gojek services
with the Number Masking feature from Telkomsel’s
Enterprise solution.
5. Forming a new GoTo entity as a synergy initiative to
expand to Tokopedia.
investments
On the other hand, MDI Ventures serves as corporate
venture capital with its investing, synergy, portfolio
management, value creation, and fundraising activities.
focus on high-growth
MDI Ventures
business verticals to enhance the digital experience
and provide the best services to improve customer
experiences, such as
logistics, financial technology,
cloud computing, agritech/food, deep tech, digital life,
healthtech, new retail, and IoT. In 2022, MDI Ventures
invested in 22 newly managed funds startups, bringing
the cumulative reach to over 80 startups spread across 12
countries. MDI Ventures currently manages a total of five
types of funds at various stages, namely:
• MDI 500, supporting developed companies by
leveraging the network from TelkomGroup and other
BUMN Initiatives.
• MDI 100, MDI’s first disbursed fund, and currently in
the “harvesting” phase. The MDI 100 is objectively
earmarked for the evergreen fund and reinvesting
purposes.
• Telkomsel Mitra Inovasi (TMI) Fund focuses on funding
startups that provide synergy value for Telkomsel.
104
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS • Centauri Fund, in collaboration with KB Financial
Group (Kook Min Bank) from South Korea, focuses
on growth-stage startups. The goal is to support
Indonesian and
startups, particularly
technology startups, including financial technology,
e-commerce infrastructure, Software as a Service
(SaaS), and big data.
regional
• Arise Fund, launched in 2020, in which MDI collaborates
with Finch Capital Netherlands, focuses primarily on
early-stage startups for Indonesian technology startups.
OTHERS SEGMENT FINANCIAL PERFORMANCE
Others segment revenue contributed 1.4% of TelkomGroup’s total revenue. The performance of Other segment for the
last three years can be seen in the following table:
Others Segment
Revenues
Expenses
Result
2022-2021
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
4.8
57.8
(634.2)
2,725
(3,788)
(1,063)
175
(243)
(68)
2,600
(2,401)
199
1,769
(1,662)
107
Others segment revenue increased by 4.8% or Rp125 billion from the previous year. In terms of expenses, it increased
by 57.8% or Rp1,387 billion. Overall, the Others segment recorded a loss of Rp1,063 billion.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk MARKETING OVERVIEW
MARKET SHARE
TelkomGroup constantly monitors tech developments and improves products, services, standards, and business
models that align with the latest developments to respond to market dynamics and win domestic and global
competition. Therefore, Telkom and its subsidiaries have the synergy to increase its value and provide the best digital
experience for customers.
MOBILE SEGMENT MARKET SHARE
In 2022, Telkomsel had 156.8 million cellular subscribers (a decrease of 10.9%), including 120.9 million mobile broadband
subscribers (an increase of 0.3%). Based on the number of subscribers, Telkomsel’s market share among the three
major operators in Indonesia is 49.5% for the Mobile segment, a decrease compared to the previous year due to the
impact of the merger of Indosat and Hutchison Tri Indonesia, resulting in a change in the competition with Hutchison
Tri Indonesia into the three major operators together with Indosat to became Indosat Ooredoo Hutchison (IOH). In
addition, Telkomsel also carries out initiatives to encourage a healthier industry by focusing on sustainable growth
and higher-quality customers.
Cellular Subscribers Market Share for Telkomsel and Competitors 2020-2022
49.5%
50.5%
59.3%
40.7%
58.9%
41.1%
2022
2021
2020
Telkomsel
Competitor
Intense competition among operators and customer preference shift to fixed broadband will affect the Mobile
segment revenue. Telkomsel had planned a marketing strategy to maintain positive profitability and market share.
Telkomsel has been one step ahead of its competitors by being the first operator to offer a 5G network in Indonesia,
which other telecommunications operators later followed.
We predicted the 5G network to become a bridge for digital transformation in Indonesia and the key to developing
business competitiveness. The Company will utilize 5G to enhance connectivity and digital platforms. The speed
offered can open up limitless possibilities in digital transformation. However, there are still challenges to 5G network
adoption. We still need 5G learning and ecosystem adjustments, such as spectrum availability, devices, and user needs.
The 4G network has supported the current internet access demand, so the 5G network deployment has not been
massive and large-scale. On the other hand, several manufacturing companies urgently need the 5G network to adopt
application solutions such as the Internet of Things (IoT) and Artificial Intelligence (AI) so that it will be deployed later
at specific points according to industry needs.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS CONSUMER SEGMENT MARKET SHARE
Social distancing during the pandemic, which forced
people to do their activities at home, positively impacted
the Consumer segment. Through IndiHome, Telkom
competes to meet people’s digital needs and has
succeeded in becoming one of TelkomGroup’s business
growth and increasing its revenue. However, IndiHome
must compete with other large fixed broadband service
providers, such as First Media, Biznet Home, MNC Play,
MyRepublic for the middle and upper-class segment. In
addition, we should consider the existence of Iconnet (a
subsidiary of PLN) and Gasnet (a brand under PGN), and
XL Home for the middle and lower-class segment.
As of the end of 2022, IndiHome’s fixed broadband
marketing has achieved 0.6 million new subscribers,
bringing the cumulative 9.2 million subscribers. IndiHome
has dominated the market share in fiber-based fixed
broadband services to the increasing number of new
customers. The IndiHome network has covered 97.5% of
districts/cities or 501 of districts/cities in Indonesia.
Fixed Broadband Market Share for IndiHome and Competitors 2020-2022
75.2%
24.8%
80.2%
19.8%
82.3%
17.7%
2022*
2021
2020
IndiHome
Competitor
Remarks:
*Considering industry competition dynamics, market share calculation with the competitors addtion from 2022
Along with the increase in digital lifestyles and internet demand, we estimate that the telecommunications industry
will constantly grow and become part of emerging economic growth in 2023. In addition, the national speed ranking
will continue to increase along with the New High-Speed Same Price (New HSSP) program by increasing the internet
package speed of at least 30-40 Mbps up to 300 Mbps for loyal customers without any additional costs.
IndiHome is supported by five add-on services to win the market: Ultra Wifi, Streamax, Upload Booster, IndiHome Eazy,
and Speed on Demand. Ultra Wifi is a wifi coverage expansion for IndiHome or WMS customers by adding devices at
their location with a seamless roaming experience when moving rooms. Streamax (Streaming Maximal) is an add-on
service to improve streaming services without lagging and buffering, and Upload Booster is an add-on to get larger
bandwidth to support customer activities. Meanwhile, cloud recording service is an add-on provided by IndiHome
Eazy. It stores IP camera recording data on a cloud server to be safe, secure, and easily accessible to customers. Speed
on Demand ensures customers can increase their internet speed temporarily based on their needs.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk In line with the high market demand, TelkomGroup will expanding the fixed broadband area in 2023 in all regions in
Indonesia, especially for the Eastern Indonesia Region, Kalimantan, Sumatra, and West Java. IndiHome will target two
segments for connectivity services of the low-affordability and high-end markets.
ENTERPRISE SEGMENT MARKET SHARE
TelkomGroup continues to encourage the growth of digital services to improve the Enterprise segment performance,
such as IoT, cyber security, big data, and digital ads that complement various types of connectivity products and
services, satellite, IT services, data centers, and cloud. In addition, the BigData and BigBox platforms will assist the
Company in making decisions, governance, and formulating beneficial strategies for its business.
TelkomGroup provided 3,156 Gbps bandwidth in 2022 increased 3.5% from 2021. TelkomGroup’s market share of in-
service bandwidth was around 59.4% in 2022, or increased 0.3% from last year.
The cloud business market and B2B IT services in Indonesia are projected to increase significantly, with a CAGR of 27%
for cloud and 7% for B2B IT services in 2024, according to Gartner research in 2021. The COVID-19 pandemic has played
a role in increasing cloud adoption and accelerating digital transformation. It was an opportunity for TelkomGroup
through TelkomSigma with its B2B IT services business portfolio.
Telkomsigma has prepared to anticipate increases in cloud demand by expanding services and having more
cooperation with global players. Likewise, Telkomsigma could be more aggressive in supporting the ICT needs to
provide the best value for stakeholders.
Through Telkomsigma, TelkomGroup’s system integration market share in 2022 was 14.6%, grew by 0.4% from the
last year, while Infomedia’s Business Process Outsourcing (BPO) market share grew by 54.6%. On the other hand,
TelkomGroup dominated 29.4% of the satellite business market share that grew 2.5% from the last year.
System Integration Market Share for Telkomsigma and Competitors 2020-2022
14.6%
85.4%
14.2%
85.8%
17.0%
83.0%
2022
2021
2020*
Telkomsigma
Competitor
Remarks:
*Restatement
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS WHOLESALE & INTERNATIONAL BUSINESS
SEGMENT MARKET SHARE
The market share for the WIB segment includes domestic
and international business of wholesale traffic, wholesale
network, wholesale digital platform & service, data
center, tower, and managed infrastructure & network.
In 2022, this segment was relatively stable but needed
improvement, so TelkomGroup has prepared a new
business portfolio to support the Company’s position by
building a Hyperscale Data Center that targets enterprise
and wholesale customers. In the International Business
segment, TelkomGroup increased data center capacity in
Singapore and Hong Kong to support the higher demand
for data centers.
TelkomGroup has now led the wholesale traffic market
with voice interconnection of 88.6%. Meanwhile, the
wholesale network market share was 62.3%, and the
wholesale internet market share was 22.6%. The wholesale
network products are Metro E and leased line, while the
wholesale internet product is IP Transit.
Tower Market Share form Mitratel and Competitors 2020-2022
40.6%
59.4%
31.7%
68.3%
26.9%
73.1%
2022
2021
2020
Mitratel
Competitor
On the other hand, TelkomGroup operates the wireless telecommunication tower business through Mitratel. Mitratel’s
market share reached 40.6%, increased from the previous year into 31.7%. In terms of coverage, Mitratel has 35,418
towers throughout Indonesia, of which around 58% are outside Java. It will attract cellular operators if they want to
expand their services outside Java. In addition, most of Mitratel’s towers are connected by the fiber optic network, which
increases bandwidth capacity and reduces latency. Mitratel is also working with Telkomsat to provide connectivity
solutions using satellite services. With satellite connectivity, good-quality tower construction can be carried out
anywhere, including in remote areas.
Therefore, Mitratel will become the most significant telecommunication tower company and the complete service in
Indonesia. Mitratel will be ready to become the market leader for telecommunications tower companies in welcoming
the 5G era in Indonesia.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk DIGITAL AND OTHERS SEGMENTS MARKET
SHARE
The digital service portfolio comprises smart platforms,
digital content access, and e-commerce. Meanwhile, for
other segments, Telkom manages venture capital funds
through its subsidiary MDI Ventures.
The TelkomGroup smart platform business line consists
of digital advertising, intelligent applications, big data, IoT,
and financial services. The digital content business line
consists of music and games, focusing on entertainment
services for cellular customers, including music apps
(such as Langit Musik and ringtones) and GameMax,
which combines content data for several games and
game vouchers. In the e-commerce line, Telkom focuses
on B2B e-commerce through PaDi UMKM to expand the
MSME business ecosystem and Xooply for the non-SOE
Enterprise segment with more diverse suppliers.
Venture capital fund management continues to develop,
with MDI Ventures focusing on investing in high-growth
business verticals that provide the best digital services
for customers, such as financial technology, cloud
computing, big data, health technology, e-commerce,
IoT, and other services. At the end of 2022, MDI Ventures
invested in more than 20 new portfolios and startups.
Since 2016, it has invested in more than 80 startups
focusing on early and mid-stage startups in South East
Asia and internationally.
MARKETING STRATEGY
TelkomGroup has a competitive, strategic, comprehensive
product and service distribution channel. TelkomGroup
seeks to strengthen its brand to increase sales so that
it becomes the customers’ choice by demonstrating its
value-added commitment and improving the customer
experience of products and services. TelkomGroup also
manages the pricing offers according to marketability
so that it remains within a good range and considers
network utilization, traffic load, and revenue.
including a shift
TelkomGroup uses several momentums for its marketing
strategy,
in people’s consumption
habits to digital services, the Government policies that
encourage the telco industry development to support
national digital transformation, expansion opportunities
to build telco infrastructure in Indonesia’s remote areas,
conducting collaborations, and transforming
into a
digital telco.
Telkom has planned its marketing strategy, including
expanding the market, collaborating with other strategic
companies to build a sustainable digital ecosystem in
particular, developing products and services, customer
engagement, and maintaining the network to provide
optimal service.
Telkom’s strategy for maintaining the network to provide
optimal services:
• Upgrade and add adequate capacity to maintain good
services.
• Monitor network
reliability with an
integrated
command center (TIOC).
• Have a maintenance team that conducts regular
control to prevent disturbances or intrusions, equipped
with applications so that the team can handle end-to-
end problems.
MOBILE
For the Mobile customer segment, in 2022, we focused
our marketing strategy on targeting specific customer
segments and personalizing the offers through various
channels for efficient implementation. Telkomsel seeks
to find the right balance between growing market share,
revenue, and profitability through several strategies,
including providing products and services for specific
customer segments and personalizing offers through
digital channels to be more efficient.
Telkomsel also increases payload growth and acquires
new users by improving network quality, services, product
offerings, and digital capabilities and accelerating and
expanding the digital ecosystem. In addition, Telkomsel
partners with other parties to increase data usage and
digital products. We improve it by enriching content
on existing platforms and focusing on the customers’
satisfaction with the offers based on their needs and
behavior to increase ARPU and yield.
In 2022, Telkomsel, as the market leader, encourages the
industry to be healthier and focus on sustainable growth.
Strategic actions have been well implemented to achieve
the goal, including price rationalization, personalized
offers, network optimization, cost optimization, and
strengthening core broadband with digital services. We
are enhancing our digital lifestyle for video and game
content, including MAXstream’s position in the video
streaming industry through partnership expansion with
crucial content partners and MAXstream.
110
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS We also expand in the mobile game industry by providing
a complete solution that fosters the gamer community
and enters game publishing with the “Dunia Games”
brand. We also develop Telkomsel Orbit, a wireless
internet service at home to optimize and boost our
network capacity. As of December 31, 2022, we had 156.8
million cellular subscribers, consisting of 149.7 million
prepaid subscribers, 7.1 million postpaid subscribers, and
120.9 million mobile broadband subscribers.
Telkomsel explores opportunities in new digital initiatives
and solutions supported by superior network quality to
improve product offerings, expand its digital ecosystem,
and meet customer needs. Through PT Telkomsel
Ekosistem Digital (INDICO) as a digital powerhouse,
Telkomsel will increase user-centered digital innovation
by offering products and services beyond connectivity.
Thus,
it will optimally contribute to accelerating
Indonesia’s digital economy.
CONSUMER
IndiHome is our main product in the Consumer customer
segment. IndiHome services combine digital-based fixed
voice, fixed broadband, and IP-TV. IndiHome marketing
is carried out in various ways, including utilizing digital
channels with discount events and service benefits for
IndiHome customers and applying dynamic prices for
products and services.
We enhance the quality of services and customer
experience to a broader customer through our “You Are
First” program, which defines the mindset of putting
our customers first. As part of this program, we organize
activities and design a loyalty program to continue our
customer engagements. We also improved network
equipment and response times to handle disruptions.
In 2022, our sales strategy implemented value-based
pricing for products and services to adjust our selling
prices according to local conditions in all Indonesian
regions while providing customers faster and improved
services with superior bundled products. We also had
branding campaigns to attract new customers, including
customers from competitors.
interesting products
We also intensify our customized services by using
personalized profiles generated from customer data
compilation and offering
to
them. We also rely on end-to-end traceable customer
relationship management processes, allowing us to
identify and solve issues promptly without customer
complaints. Thus, we proactively solve problems before
customers get inconvenienced. With various marketing
strategies, from discounts to value innovation, we can
offer products that can provide attractive value.
We offer these products through various sales channels,
including digital channels, and have festive campaigns
and promotions as follows:
1. Aktivitas Tanpa Batas (Unlimited Activities)
It was our campaign tagline and marketing theme
in 2022. IndiHome had a series of campaigns and
promotional activities,
including product offers,
brand stories, gimmicks, and special offers. IndiHome
also conducts campaigns for thematic holidays,
such as the 11.11 and 12.12 sale days, to increase
customer subscriptions. We also focus on community
empowerment activities that enable communities to
reach their full potential (empowering society).
2. Multisectoral Activities
In addition to its core business activities, IndiHome
supports many multisectoral activities across
Indonesia almost every week, such as sports, e-sports,
arts, literacy, education, and social activities. For
example, IndiHome contributed to the success of the
Indonesian MotoGP in March 2022 by preparing fiber
optic internet for all stakeholders and spectators who
attended.
We also create value and collaborate in other events,
such as the Mandalika MotoGP, IndiHome Gideon
Badminton Academy (IGBA), International Basketball
Federation (FIBA), IndiHome Blog Competition, FIFA
World Cup Broadcast sponsorship, IndiHome Limitless
E-Sport Academy, and others. Through IndiHome’s
Limitless E-Sport Academy
IndiHome
has successfully created gifted talents that could
contribute to the Indonesian international image. With
several LEAD events held by IndiHome, those talents
participated in the Southeast Asian championship in
(LEAD),
mid-2022.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
The marketing strategy implemented in 2022 focused on
the following:
1. Offering an attractive business scheme for our voice
traffic portfolio to
increase retail traffic through
voice traffic product bundling at competitive prices
according to the service quality offered.
2. Improving services, such as quality and coverage for
data center customers and overseas connectivity.
3. Offer end-to-end tower solutions to customers, both
for core tower services such as “built to suit” tower
leasing services tailored to the preferred
(tower
location and specifications of the first or primary
tenant for the relevant tower), co-location services, as
well as adjacent towers such as site maintenance, and
other related services.
4. Exploring regional markets by providing submarine
cable deployment and maintenance services.
The tower market is developed by transferring tower
operations from Telkomsel to Mitratel to increase this
segment’s value. This policy aims to increase the tenancy
ratio and optimize the tower business with more focus on
Mitratel management.
TelkomGroup also has various approaches to WIB
customers by providing account managers, wholesale
digital touchpoints (apps and web), and customer
care support for 24 hours, as well as developing team
capability and competency based on customer centricity.
TelkomGroup conducts regular surveys through digital
touchpoints and
interviews to better understand
customer needs and feedback. The survey results will
be used as input in the development of products and
services.
DIGITAL AND OTHERS SERVICES
in the Digital and Others
The marketing strategy
segments is increasing digital innovation. It includes
enriching digital content, creating digital services
with unique features,
improving brands, platforms,
operational and customer experiences, building digital
business models to support Indonesia’s digital economy,
leveraging assets and inventory to gain insight into
digital services and customer experience, as well as
growing our digital business portfolio through digital
startups investment. TelkomGroup also has a contact
center, dedicated account management, customer care,
channel management, website, and social media as a
communication channel for serving customers.
ENTERPRISE
sustainable
fundamental
In managing the Enterprise segment, Telkom always
makes
improvements,
improvises consultative selling, and develops strategies
to encourage products and services to approach the
market. Telkom also improves business relations and
attracts high-end market customers through Telkom and
customer collaboration to design tailored services based
on their needs.
We also have a transformative digital marketing strategy
consisting of the following:
1. Lead enterprise digital
transformation agenda
(including SOE) and strengthen market position for
our product portfolio to become a leading digital
connectivity player by bandwidth share
in the
enterprise segment.
2. Empower SMEs through the digital platform to gain
better market access, fund access, and information and
technology access as part of supporting Indonesia’s
digital transformation agenda.
3. Become a trusted ICT partner for the Government to
support key national digital agenda (Making Indonesia
4.0 and One Data Indonesia).
TelkomGroup provides an Account Manager for corporate
customers, the primary interaction channel in delivering
end-to-end and after-sales services. To serve SOE’s
customers, TelkomGroup has Government Relationship
Officers (GRO) who are responsible for managing
relations with government agencies and extending work
contracts. For Small and Medium Enterprises (UKM),
TelkomGroup provides Business Account Manager (BAM)
and Tele Account Management (TAM) to serve small
businesses and a value-added reseller to help micro
businesses.
WHOLESALE AND INTERNATIONAL
BUSINESS
In the WIB segment, TelkomGroup seeks to increase the
effectiveness and efficiency of the cost structure, develop
new opportunities, and provide support for ministry
programs related to BUMN Go Global. TelkomGroup also
constantly reviews ongoing overseas businesses to build
a better portfolio structure. TelkomGroup continues to
evaluate its business portfolio to create a good portfolio
structure to maximize the value of the WIB segment.
112
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS Our digital service program also focuses on improving
IndiHome services, such as the myIndiHome app as a
digital touch point, which also offers Disney+ Hotstar
as a bundling starter package, IndiBox as additional
services (such as video content, games, and other Google
applications), GameQoo as a cloud gaming service, and
IndiHome Smart as an IoT home service for IndiHome
subscribers.
DISTRIBUTION CHANNEL
DIGITAL TOUCH POINT
To support the expansion of the IndiHome distribution
network, Telkom provides digital touchpoints based on
web and mobile applications. Customers can use the
myIndiHome service for mobile-based applications to
request new installations and manage bills and payments
more efficiently. By the end of 2022, 9.2 million IndiHome
subscribers registered on the myIndiHome application.
Meanwhile, Telkomsel provides MyTelkomsel as a self-
care mobile application for purchasing information on
service packages and products. Until now, around 32.3
million active users have used MyTelkomsel.
My Telkom Enterprise Solution (MyTeNS)
is a digital
touchpoint for Enterprise segment customers, which
can simplify business processes to increase customer
productivity and service performance. MyTeNS easily
accesses product catalogs and digital quotations, tracks
shipping tickets and enables fast customer complaints for
service disruption by the released tickets as a disruption log.
For MSME, Telkom provides mysooltan, a one-stop service
solution, by offering various products, such as sooltaNet,
sooltanPay, sooltanKasir, and others. Users can also be
partners and easily apply for a venture capital loan. For
Wholesale Customers, we offer MyCarrier, self-service
digital touch points that provide an end-to-end digital
experience that integrates with the real-time internal
process, from the product catalog, order management,
installation tracking/service activation, billing & payment,
disruption ticketing and monitoring, and others.
TelkomGroup uses digital touch points with the Net
Promoter Score (NPS) method to measure customer
experience. With this method, TelkomGroup has accurate
data and information to improve the quality of products,
services, and future customer experiences.
CUSTOMER SERVICE POINT
TelkomGroup provides customer service points, such as
Plasa Telkom and GraPARI, to provide service solutions
and products for Telkom and its subsidiaries. As of 2022,
TelkomGroup had 387 Plasa Telkom, 22 Plasa Telkom
Digital, and 372 GraPARI Centers in Indonesia (including
9 GraPARI TelkomGroup). TelkomGroup also operated
750 units of IndiHome sales cars.
AUTHORIZED DEALERS, RETAIL OUTLETS
AND MODERN CHANNELS
TelkomGroup has a non-exclusive distribution network
operating across Indonesia, such as authorized dealers
and retail outlets that provide various Telkomsel products,
such as starter packs, prepaid SIM cards, and top-up
vouchers with diverse discounts. In line with the use of
dedicated mobile applications rather than transacting
in traditional outlets, Telkomsel will reward partners who
can optimize their business models to increase sales.
PARTNERSHIP STORES
TelkomGroup collaborates with various
third-party
marketing outlets to expand its distribution network.
These third parties include computer and electronic
stores, ATM networks, and other business networks.
CONTACT CENTERS
TelkomGroup has a contact center service that operates
24 hours in Semarang, Bandung, and Malang. It aims to
facilitate customers in registering, submitting complaints,
and obtaining information on IndiHome services and
other Telkom products.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk ACCOUNT MANAGEMENT TEAM
LINKAJA
LinkAja is a digital wallet app that provides features of
bill payment, purchasing digital product and service and
other digital transaction via smartphone.
CUSTOMER RELATIONSHIP
MANAGEMENT (CRM)
customer
implements
TelkomGroup
relationship
management to identify services and follows consumer
interests by compiling data for personalized services.
One of the implementations of customer relationship
management is through the IndiHome service. The
officers will proactively identify and resolve customer
problems so that
IndiHome
customers’ convenience. With a robust customer
database, IndiHome can provide service quality for
each customer’s characteristics to improve customer
experience.
increase the
it could
In addition, we carried out continuous improvement with
a close-the-loop system. It means “beginning and ending
with the customer mind” by solving customer pain points
to improve customer experience. We implement an in-
depth analysis through the NPS survey of the customers
(notably respondents detractors/who do not recommend
IndiHome services). For further identification, we have
the root cause analysis and prioritized the most effective
action plans for IndiHome subscribers’ satisfaction.
TelkomGroup has account management teams that
is responsible for managing customer relationships,
portfolios, and customer satisfaction. The account
management team serves corporate, SME, Government
institutions, and Wholesale & International customers.
SALES SPECIALIST
TelkomGroup has sales specialists who work with account
managers to identify customer technical needs.
CHANNEL PARTNER
TelkomGroup collaborates with other parties to increase
revenue,
through sales and marketing activities,
including organizing events for Enterprise customers.
TelkomGroup also works with Value Added Reseller (VAR)
to fulfill Enterprise customer demand and approach
retail customers.
WEBSITE
TelkomGroup has various website that customers
can access according to their needs, including www.
telkom.co.id, www.telkomsel.com, www.telin.net, and
www.indihome.co.id. It is more convenient to access
information, submit complaints, and get several services
such as e-billing, registration, and collective billing
information for customers.
SOCIAL MEDIA
TelkomGroup manages social media, such as Facebook,
Instagram, and Twitter to communicates with customers
and gets fast feedback on products and services.
114
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS COMPREHENSIVE FINANCIAL PERFORMANCE
FINANCIAL POSITION OVERVIEW
As of December 31, 2022, TelkomGroup had total assets of Rp275,192 billion or US$17,676 million, decreased by 0.7%
from the previous period. The decrease in total assets was due to the decrease of cash and cash equivalents, claim
for tax refund, prepaid taxes, assets held for sale, long-term investment in financial instruments, contract assets, and
other non-current assets.
Total liabilities were Rp125,930 billion or US$8,088 million as of December 31, 2022. It decreased by 4.4% from the last
year. The decrease was due to the decrease of other payables, accrued expenses, contract liabilities, current maturities
of long-term borrowings, and current maturities of lease liabilities.
Telkom and Its Subsidiaries Financial Position 2020-2022
Total Current Assets
Total Non-Current Assets
Total Assets
Total Current Liabilities
Total Non-Current Liabilities
Total Liabilities
Total Equity attributable to owners of
the parent company
Growth
2022-2021
(%)
Years ended December 31
2022
2021
2020
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
(10.2)
2.0
(0.7)
55,057
220,135
275,192
1.8
70,388
(11.4)
(4.4)
55,542
125,930
3,536
14,139
61,277
46,503
215,907
200,440
17,676
277,184
246,943
4,521
3,567
69,131
62,654
69,093
56,961
8,088
131,785
126,054
6.3
129,258
8,302
121,646
102,527
FINANCIAL POSITION COMPARISON
The position of Telkom’s current asset and non-current asset as of December 31, 2022, was 20.0% dan 80.0%. Meanwhile,
for the liabilities, Telkom had 55.9% current liabilities and 44.1% non-current liabilities. The diagrams below present
Telkom’s composition assets and liabilities for the last three years.
Asset Composition 2020-2022 (Rp billion)
Non Current Asset
80.0% | 220,135
Non Current Asset
77.9% | 215,907
Non Current Asset
81.2% | 200,440
Current Asset
20.0% | 55,057
Current Asset
22.1% | 61,277
2022
2021
2020
Current
Asset
18.8% | 46,503
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
Liabilities Composition 2020-2022 (Rp billion)
Non Current
Liabilities
44,1% | 55,542
Non Current
Liabilities
47.5% | 62,654
Non Current
Liabilities
45.2% | 56,961
2022
2021
2020
Current
Liabilities
55,9% | 70,388
Current
Liabilities
52.5% | 69,131
Current
Liabilities
54.8% | 69,093
COMPARISON OF FINANCIAL POSITION AS
OF DECEMBER 31, 2022 COMPARED TO AS
OF DECEMBER 31, 2021
1. Assets
At the end of 2022, Telkom’s total assets were Rp275,192
billion or US$17,676 million. It decreased by Rp1,992
billion or 0.7% compared to 2021. It was due to:
a. Current Assets
Telkom’s current assets of December 31, 2022 was
recorded at Rp55,057 billion or US$3,536 million,
decreased by Rp6,220 billion or 10.2% from 2021. It
was the impact of:
• A decrease in cash and cash equivalents by
Rp6,364 billion or 16.6% due to the decrease in
cash disbursements for repayments of loan and
other borrowings.
• A decrease in assets held for sale by Rp812
billion or 99.3% related to the reclassification of
Telkomsel equipment that has been exchanged
with PT ZTE Indonesia equipment.
• A decrease in prepaid taxes by Rp680 billion or
31.7% due to the decrease in VAT and Income Tax
Article 23.
• A decrease in claim for tax refund by Rp310
billion or 44.9% due to the decrease in claim for
VAT refund of parent company and subsidiaries.
The decreases were offset by:
• An increase in other current financial assets by
Rp856 billion or 173.6% due to the increase in time
deposits, escrow accounts, and mutual funds.
• An increase in contract cost by Rp15 billion or 2.3%
due to the significant increase in cost to fulfill.
• An increase in other current assets by Rp409
billion or 6.4% due to the increase in short term
prepaid frequency usage license.
• An increase in inventories – net by Rp365 billion
or 46.9% related to SIM cards, prepaid vouchers,
etc.
• An increase in contract assets – net by Rp127
billion or 5.5% on the side of short-term contract
assets.
• An increase in trade receivables by Rp124 billion
or 1.5% related to related parties (SOEs).
b. Non-Current Assets
At the end of 2022, Telkom recorded non-current
asset of Rp220,135 billion or US$14,139 million, it
increased by 2.0% or Rp4,228 billion from the last
period of Rp215,907 billion. The changes were due to:
• An increase in property and equipment by
Rp8,303 billion or 5.0% due to the increase
in direct ownership in the form of buildings,
telephone exchange equipment, transmission
equipment and installations, cable networks,
power supplies, data processing equipment, and
assets under construction.
• An increase in right-of-use asset by Rp1,867
billion or 10.1% in the form of transmission
installation and equipment, land, and vehicles.
• An increase in intangible assets by Rp796 billion
or 10.6% in the form of software and license.
• An increase in deferred tax assets by Rp293
billion or 7.7% as resulted of a greater realized
future taxable profit than estimated.
• An increase in contract cost by Rp133 billion or
8.3% to the increase in the difference between
the amortization of contract costs during the
year with the addition of contract acquisition
costs and contract fulfillment costs.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
The increases were offset by:
• A decrease in long-term investments by Rp5,147
billion or 37.3% due to the decrease in long-term
investment in financial instruments in the form
of equity and convertible bonds.
• A decrease
in other non-current assets by
Rp1,908 billion or 34.5% in the form of prepaid
frequency usage permit, claim for tax refund
and prepaid tax, all after deducting the short-
term portion.
• A decrease in contract assets by Rp109 billion or
76.2% of the long-term contract assets.
2. Liabilities
TelkomGroup recorded total liabilities of Rp125,930
billion or US$8,088 million at the end of 2022, it
decreased by 4.4% or Rp5,855 billion. The following
influenced changes in liabilities in 2022.
a. Current Liabilities
At the end of 2022, TelkomGroup’s current liabilities
were Rp70,388 billion or US$4,521 million.
It
increased by 1.8% or Rp1,257 billion and was due to:
• An increase in short-term bank loans by Rp1,509
billion or 22.6% which was proportionately
obtained from related party creditors.
• An increase in taxes payable by Rp1,449 billion
or 36.9% due to the increase in the subsidiaries’
corporate income tax and VAT - tax collector
• An increase in trade payables by Rp1,287 billion
or 7.5%, mostly from purchases of equipments,
materials, and services.
The increases were offset by:
• A decrease in current maturities of lease liabilities
by Rp1,036 billion or 17.4%.
• A decrease in current maturities of long-term
borrowings Rp832 billion or 8.6% related to the
most proportion in settlement of series A bonds
2015.
• A decrease in current portion of contract liabilities
by Rp500 billion or 7.4%, mostly advances from
customers for Mobile and Enterprise segment.
• A decrease in accrued expenses by Rp440 billion
or 2.8% in the form of operation, maintenance,
and telecommunication service expenses.
b. Non-Current Liabilities
TelkomGroup recorded non-current liabilities of
Rp55,542 billion or US$3,567 million as of December
31, 2022. It decreased by 11.4% or Rp7,112 billion,
which was due to:
• A decrease
loans and other
borrowings by Rp8,988 billion or 24.7%
proportionally to related party creditors.
long-term
in
• A decrease in pension benefits and other post-
employment benefits obligations by Rp1,291
billion or 11.2%.
• A decrease in long service award provisions by
Rp175 billion or 14.5% of defined pension benefit
obligation funded by the Company and net
periodic post-employment health care benefit.
• A decrease in deferred tax liabilities – net by
Rp135 billion or 11.7% generally from Telkomsel
that related to leases, fair value measurement of
financial instruments, and difference between
book value of accounting and tax property
equipment.
• A decrease in other liabilities by Rp111 billion or
15.9%.
The decreases were compensated by:
• An increase in lease liabilities by Rp3,310 billion or
31.7% due to the additional leasing activities by
the Company.
• An increase in non-current portion of contract
liabilities by Rp278 billion or 21.7% in the form of
advances from customers for Consumer, WIB,
and Others segment.
3. Equity
TelkomGroup recorded total equity
in 2022 of
Rp149,262 billion or US$9,587 million, increased by 2.7%
or Rp3,863 billion from the 2021 of Rp145,399 billion.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
PROFIT AND LOSS OVERVIEW
As of December 31, 2022, Telkom’s consolidated revenue was Rp147,306 billion (US$9,461 million), or increased by 2.9%
from the last year of Rp143,210 billion. The increase was due to the revenue growth of IndiHome, data, internet, and
information technology service, interconnection and network.
The total expense of TelkomGroup in 2022 was Rp102,007 billion (US$6,552 million), it increased by 2.7% compared to
the total expense in 2021 of Rp99,303 billion (US$6,967 million). It was due to the increase in interconnection, marketing,
depreciation and amortization, and general and administrative expenses.
At the end of the year, TelkomGroup recorded a net profit of Rp20,753 billion (US$1,333 million), it decreased by 16.2%,
and EBITDA of Rp78,554 billion that increased by 3.7% compared to 2021.
Telkom and Its Subsidiaries Consolidated Profit and Loss in 2020-2022
Revenues
Telephone revenues
Cellular
Fixed Line
Interconnection revenues
Data, internet, and information
technology service revenues
Celluler internet and data
Internet, data communication and
information technology services
Short Messaging Service (SMS)
Others
Network revenues
IndiHome revenues
Other services revenues
Manage service and terminal
Call center service
E-health
E-payment
Others
Revenues from lessor transaction
Growth
2022-2021
Years ended December 31
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
2.9
147,306
9,461
143,210
136,462
(17.5)
(18.2)
(11.2)
8.8
5.1
7.0
0.1
(9.4)
4.1
26.5
6.4
(4.6)
(43.5)
7.7
13.9
(2.7)
24.3
8.0
13,588
12,052
1,536
8,472
86,410
69,006
10,286
4,309
2,809
2,378
28,020
5,834
1,157
1,164
729
474
2,310
2,604
873
774
99
544
16,467
14,737
1,730
7,787
5,550
82,224
4,432
64,500
661
10,272
277
180
153
4,754
2,698
1,880
21,610
19,510
2,100
7,686
75,816
59,502
9,744
4,817
1,753
1,689
1,800
26,325
22,214
375
74
75
47
30
148
167
6,115
2,048
1,081
640
487
1,859
2,412
5,170
1,292
845
549
499
1,985
2,277
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS Expenses
Depreciation and amortization
expenses
Operations, maintenance, and
telecommunication services expenses
Operations and maintenance
Radio frequency usage charges
Leased lines and CPE
Concession fees and USO charges
Electricity, gas, and water
Cost of SIM Cards and vouchers
Project management
Insurance
Vehicles rental and supporting
facilities
Others
Personnel expenses
Salaries and related benefits
Vacation pay, incentives and other
benefits
Pension benefit cost
Net periodic post-employment
health care benefits cost
Long Service Award (LSA) expense
Obligation under the Labor Law
Other post-employment benefit
cost
Long service employee benefit
Others
Growth
2022-2021
Years ended December 31
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
2.3
4.5
101,569
33,255
6,524
99,303
2,136
31,816
93,274
28,892
0.1
38,184
2,453
38,133
34,593
6.0
6.8
(29.4)
5.2
0.7
1.1
(22.9)
(46.8)
12.5
(13.9)
(4.0)
8.1
(23.3)
11.5
(19.0)
(39.9)
(69.3)
8.7
(66.7)
12.9
22,746
1,461
21,467
6,510
3,530
2,601
904
747
400
230
343
173
14,907
9,360
3,835
1,268
213
92
78
25
1
35
418
227
167
58
48
26
15
22
11
957
601
246
81
14
6
5
2
0
2
6,097
5,003
2,472
898
739
519
432
305
201
15,524
8,661
4,999
1,137
263
153
254
23
3
31
19,930
5,930
3,371
2,411
946
544
538
378
343
202
14,390
8,272
4,321
804
253
290
258
81
53
58
119
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Interconnection expenses
Marketing expenses
General and administrative expenses
General Expenses
Professional fees
Allowance for expected credit
losses
Travelling
Training, education, and
recruitment
Social contribution
Collection expenses
Meeting
Research and development
Others
Gain (loss) on foreign exchange-net
Unrealized gain on changes in fair
value of investments
Other Income - net
Operating Profit
Finance income
Finance costs
Share of profit (loss) of associated
companies
Impairment of long-term investment
in associated companies
Growth
2022-2021
Years ended December 31
2022
2021
2020
(%)
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
5.0
8.1
16.7
10.6
39.0
18.0
31.2
30.6
2.3
(18.4)
25.3
31.7
(4.0)
(412.0)
(287.6)
5,440
3,929
5,854
2,259
1,097
563
421
371
218
173
312
108
332
256
349
252
376
145
70
36
27
24
14
11
20
7
21
16
5,181
3,633
5,016
2,043
789
477
321
284
213
212
249
82
346
50
(6,438)
(414)
3,432
(85.1)
26
2
174
5,406
3,482
6,511
1,805
981
2,267
275
308
223
193
184
52
223
(86)
129
274
(16.8)
39,581
2,542
47,563
43,505
57.3
(7.6)
11.5
878
56
558
(4,033)
(259)
(4,365)
(87)
(6)
(78)
799
(4,520)
(246)
-
-
-
-
(763)
Profit Before Income Tax
(16.8)
36,339
2,334
43,678
Income Tax (Expense) Benefit
(11.0)
(8,659)
(556)
(9,730)
Profit for the Year
(18.5)
27,680
1,778
33,948
Other comprehensive income (loss)
10.8
1,767
113
1,980
(18.0)
29,447
1,891
35,928
38,775
(9,212)
29,563
(3,577)
25,986
20,753
1,333
24,760
20,804
6,927
445
9.188
8.759
22,468
1,443
26.767
17.595
6,979
448
9.161
8.391
Net comprehensive income for the
year
Profit for the year attributable to
owners of the parent company
Profit for the year attributable to non-
controlling interest
Net comprehensive income
attributable to owner of the parent
company
Net comprehensive income for the
year attributable to non-controlling
interest
120
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
PROFIT AND LOSS COMPARISON
TelkomGroup’s highest revenue composition in 2022 was from data, internet, and information technology service
revenues of 58.7%, followed by IndiHome revenue with the contribution of 19% and telephone revenue of 9.2%.
Meanwhile, the highest expense composition was from operation, maintenance, and telecommunication services
of 37.4%, followed by depreciation and amortization expenses of 32.6% due to property and equipment, software,
hardware, and technology infrastructure use. The least expense in 2022 was the marketing expense of 3.9%.
Other Services
4.0% | 5,834
IndiHome
19.0% | 28,020
Revenue Composition 2020-2022 (Rp billion)
Revenue from
lessor transactions
1.8% | 2,604
Telephone
9.2% | 13,588
Interconnection
5.8% | 8,472
Other Services
4.3% | 6,115
IndiHome
18.4% | 26,325
Revenue
from lessor
transactions
1.7% | 2,412
Telephone
11.5% | 16,467
Interconnection
5.4% | 7,787
Network
1.6% | 2,378
2022
Network
1.3% | 1,880
2021
Data, Internet and
Information
Technology
58.7% | 86,410
Data, Internet and
Information Technology
57.4% | 82,224
Other Services
3.8% | 5,170
IndiHome
16.3% | 22,214
Network
1.2% | 1,689
2020
Revenue from lessor
transactions
1.7% | 2,277
Telephone
15.8% | 21,610
Interconnection
5.6% | 7,686
Data, Internet and
Information Technology
55.6% | 75,816
Expenses Composition 2020-2022 (Rp billion)
General and
Administrative
5.8% | 5,854
Marketing
3.9% | 3,929
Interconnection
5.4% | 5,440
Personnel
14.7% | 14,907
Depreciation and
Amortization
32.7% | 33,255
Operations,
Maintenance and
Telecommunication
Services
37.6% | 38,184
General and
Administrative
5.1% | 5,016
Marketing
3.7% | 3,633
Interconnection
5.2% | 5,181
Personnel
15.6% | 15,524
2022
Depreciation and
Amortization
32.0% | 31,816
Operations,
Maintenance and
Telecommunication
Services
38.4% | 38,133
2021
General and
Administrative
7.0% | 6,511
Marketing
3.7% | 3,482
Interconnection
5.8% | 5,406
Personnel
15.4% | 14,390
Depreciation and
Amortization
31.0% | 28,892
2020
Operations, Maintenance
and Telecommunication
Services
37.1% | 34,593
121
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk d. Interconnection Revenues
interconnection revenue
TelkomGroup obtains
from Telkom fixed-line telephone, including direct
international services of IDD 007 and Telkomsel
cellular
interconnection
revenues in 2022 were Rp8,472 billion (US$544
million), increase by 8.8% or Rp685 billion from the
last year of Rp7,787 billion. The increase was due to
the higher traffic between countries in hubbing
voice and SMS A2P (Application to Person).
network.
Telkom’s
e. Network Revenues
TelkomGroup’s network revenues
increased by
26.5% or Rp498 billion, from Rp1,880 billion in 2021 to
Rp2,378 billion (US$153 million) in 2022. The increase
was due to lease line and satellite transponder
revenue.
f. IndiHome Revenues
In 2022, IndiHome revenues increased by 6.4% to
Rp28,020 billion (US$1,800 million), compared to
the last year of Rp26,325 billion. It was due to the
IndiHome new subscribers of 9.2 million subscribers
or increased by 7.1%.
g. Other Services Revenues
For the other services, TelkomGroup recorded
revenue of Rp5,834 billion (US$375 million) in 2022.
It decreased by 4.6% or Rp281 billion compared to
the 2021 revenues of Rp6,115 billion. The decrease
was due to:
• A decrease in manage service and terminal
revenue by Rp891 billion or 43.5%.
• A decrease in e-payment revenue by Rp13 billion
or 2.7%.
The decrease was compensated by the increase in
others revenue by Rp451 billion or 24.3%.
h. Revenues from Lessor Transactions
Telkom also has revenues from lessor transactions
of Rp2,604 billion
in 2022 resulted from the
adoption of PSAK 72, which Telkom requires to
disclose revenues from lessor transactions; for
instance, leases were separately from contracts
with customers’ revenues.
COMPARISON OF PROFIT AND LOSS FOR
THE YEAR ENDED DECEMBER 31, 2022
COMPARED TO YEAR ENDED DECEMBER 31,
2021
1. Revenues
TelkomGroup recorded revenues in 2022 at Rp147,306
billion (US$9,461 million), it increased by 2.9% or
Rp4,096 billion, compared to the 2021 revenue
of Rp143,210 billion. The increase was due to the
increase in IndiHome, data, internet, and information
technology service,
interconnection and network
revenue.
a. Cellular Telephone Revenues
The cellular voice revenue decreased by 18.2% in
2022 to Rp12,052 billion (US$774 million) compared
to the last year of Rp14,737 billion. The decrease was
due to the higher subscriber’s usage of Over the Top
(OTT) service in communication media preference.
b. Fixed Lines Telephone Revenues
In 2022, Fixed lines telephone revenues decreased
by 11.2% to Rp1,536 billion (US$99 million), compared
to 2021 of Rp1,730 billion. It was due to the higher
customer mobility that more prefer to the mobile
device.
c. Data,
Internet, and
Information Technology
Services Revenues
At the end of 2022, TelkomGroup recorded data,
internet, and
information technology services
revenue of Rp86,410 billion (US$5,550 million), it
increased by 5.1% or Rp4,186 billion compared to the
2021 revenue of Rp82,224 billion. The increase was
due to:
• An increase in cellular data and internet revenue
by Rp4,506 billion or 7.0% driven by the growth
of mobile data usage.
• An increase in others service revenue by Rp111
billion or 4.1% driven by the growth of data usage
in Enterprise segment products.
• An increase in Internet, data communication,
and information technology services revenue
by Rp14 billion or 0.1% driven by the growth
of IT services in Consumer and Wholesale &
International Business segment.
The increases were compensated by the decrease
in SMS revenue by Rp445 billion or 9.4% due to
the transition from SMS to the Over the Top (OTT)
service.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
2. Expense
d. Interconnection Expense
it
Telkom recorded total expenses as of December
31, 2022, were Rp101,569 billion (US$6,524 million),
increased by 2.3% or Rp2,266 billion, compared to 2021
of Rp99,303 billion. These changes were due to:
a. Operation, Maintenance and Telecommunication
operating,
Service
maintenance, and telecommunications services
expenses in 2022 were Rp38,184 billion (US$2,453
million),
increased by 0.1% or Rp51 billion
compared to 2021 of Rp38,133 billion. It was due to:
• An
TelkomGroup’s
Expense
increase
in operation and maintenance
expense by Rp1,279 billion or 6.0% resulted from
usufructuary fee of backbone network with other
operators/global submarine cable consortiums.
• An increase in radio frequency usage charges
by Rp413 billion or 6.8%, which
is directly
proportional to the increase in cellular internet
and data services.
increase
fees and USO
charges by Rp129 billion or 5.2% due to the
higher contribution from the gross revenue
of
the
telecommunications operation as
development of KPU.
in concession
• An
TelkomGroup’s interconnection expenses in 2022
increased by 5.0% or Rp259 billion. In the last period,
interconnection expenses were Rp5,181 billion,
it increased in 2022 to Rp5,440 billion (US$349
million), in line with the increase in interconnection
revenue.
e. Marketing Expense
In 2022, TelkomGroup recorded marketing expenses
at Rp3,929 billion (US$252 million). It increased by 8.1%
or Rp296 billion, compared to 2021 of Rp3,633 billion.
It was due to more aggressive marketing programs,
promotion of new digital products and business,
consumer education, and strengthening SMEs
through Padi UMKM.
f. General and Administrative Expense
and
general
TelkomGroup’s
administrative
expenses in 2022 were Rp5,854 billion (US$376
million), it increased by 16.7% or Rp838 billion
compared to 2021 of Rp5,016 billion. It was due to
the increase in professional fees by 39% or Rp308
billion, general expenses by Rp216 billion or 10.6%,
and traveling expense by Rp100 billion or 31.2%.
The increases were compensated by:
• A decrease in leased lines and CPE expense by
Rp1,473 billion or 29.4%.
• A decrease in insurance expense by Rp202 billion
or 46.8%.
• A decrease in project management expense by
Rp119 billion or 22.9%.
b. Depreciation and Amortization Expense
recorded
depreciation
TelkomGroup
and
amortization expenses in 2022 at Rp33,255 billion
(US$2,136 million), it increased by 4.5% or Rp1,439
billion compared to the last year of Rp31,816 billion.
The increase was due to the increase capex in the
current year and the Company accelerated the
useful lives of Multi-Service Access Node (MSAN)
assets. The Company accelerated the useful lives of
Multi-Service Access Node (MSAN) assets.
c. Personnel Expense
In 2022, there was a decrease in personnel expense
by 4.0% or Rp617 billion from Rp15,524 billion in 2021
to Rp14,907 billion (US$957 million) in 2022. The
decrease was due to a decrease in vacation pay,
incentives, and other benefits expense by Rp1,164
billion or 23.3% and a decrease in other benefit
expense by Rp176 billion or 69.3%. The decreases
were compensated by the increase in salaries and
related benefits by Rp699 billion or 8.1%.
3. Gain (Losses) on Foreign Exchange-Net
TelkomGroup’s business involves foreign currencies,
and exchange rate fluctuations throughout 2022 may
positively or negatively impact the Company’s financial
transactions. In 2022, TelkomGroup recorded gain on
foreign exchange - net of Rp256 billion (US$16 million),
it increased by Rp206 billion or 412.0% compared to
the previous period that gained Rp50 billion.
4. Unrealized Gain (Loss) on Changes in Fair Value of
Investments
TelkomGroup recorded unrealized loss on changes in
fair value of investments in 2022 at Rp6,438 billion, it
decreased by 287.6% compared to the last period of
Rp3,432 billion.
5. Other Income - Net
TelkomGroup’s other income - net in 2022 recorded
at Rp26 billion (US$2 million), it decreased by 85.1%
or Rp148 billion compared to the last period of Rp174
billion.
6. Operating Profit and Operating Profit Margin
In 2022, TelkomGroup recorded an operating profit
of Rp39,581 billion (US$2,542 million), it decreased
by 16.8% compared to the last operating profit of
Rp47,563 billion. Meanwhile, the operating profit
margin decreased from 33.2% in 2021 to 26.9% in 2022.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
7. Profit Before Income Tax and Pre-Tax Margin
10. Profit for The Year Attributable to Owners of The
In 2022, TelkomGroup’s profit before income tax was
Rp36,339 billion (US$2,334 million), it decreased by
16.8% compared to the last period of Rp43,678 billion.
On the other hand, TelkomGroup recorded pre-tax
margin decreased from 30.5% in 2021 to 24.7% in 2022.
Parent Company
Profit for the year attributable to owners of the parent
company decreased by 16.2% from Rp24,760 billion in
2021 to Rp20,753 billion (US$1,333 million) in 2022.
11. Profit for The Year Attributable to Non-Controlling
8. Income Tax (Expense) Benefit
Interest
TelkomGroup’s expense tax benefit
in 2022 was
Rp8,659 billion (US$556 million), it decreased by 11% or
Rp1,071 billion compared to 2021 of Rp9,730 billion. It
was in line with the increase in deferred tax benefits of
Rp426 billion.
Profit for the year attributable to non-controlling
interests was at Rp6,927 billion (US$445 million), it
decreased by 24.6% compared to the last period of
Rp9,188 billion.
9. Other Comprehensive Income (Losses)
Telkom recorded other comprehensive income of
Rp1,767 billion (US$113 million) in 2022. If compared to
other comprehensive income in 2021 of Rp1,980 billion,
it decreased by 10.8%. It was due to the decrease in
defined benefit actuarial gain – net by Rp491 billion.
12. Total Comprehensive Income for The Year
In 2022, Telkom recorded comprehensive income
for the year of Rp29,447 billion (US$1,891 million), it
decreased by 18% or Rp6,481 billion compared to 2021
of Rp35,928 billion.
13. Net Income per Share
TelkomGroup’s net income per share in 2022 was
Rp209.49 per share, it decreased by 16.2% or Rp40.45
compared to the last year of Rp249.94 per share.
CASHFLOW OVERVIEW
TelkomGroup’s cash and cash equivalent as of December 31, 2022, was decent at Rp31,947 billion (US$2,052 million).
The net cash provided by operating activities was Rp73,354 billion, net cash used in investing activities was Rp39,250
billion, and net cash used in financing activities was Rp40,837 billion.
TelkomGroup Cashflow 2020-2022
Net Cash
provided by operating activities
used in investing activities
used in financing activities
Years ended December 31
2022
2021
2020
(Rp billion)
(US$ mil-
lion)
(Rp billion)
(Rp billion)
Growth
2022-2021
(%)
7.3
4.1
73,354
4,712
68,353
65,317
(39,250)
(2,521)
(37,703)
(35,256)
214.5
(40,837)
(2,623)
(12,986)
(27,753)
Net increase in cash and cash equivalents
(138.1)
(6,733)
(432)
17,664
2,308
Effect of exchange rate changes on cash
and cash equivalents
Cash and cash equivalents at beginning
of year
536.2
369
24
58
39
86.1
38,311
2,461
20,589
18,242
Cash and cash equivalents at end of year
(16.6)
31,947
2,052
38,311
20,589
124
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
CASHFLOW COMPARISON
The composition of TelkomGroup cash receipt in 2022 indicated that the highest cash receipt was from operating
activities of 80.0%, followed by the cash receipt from financing activities of 19.2%. This composition indicated that
TelkomGroup’s internal and external funds supported the Company’s operational activities.
TelkomGroup’s composition of cash receipt and cash disbursement in the last three years presents in the diagram
below.
Composition of Cash Receipt 2020-2022 (Rp billion)
Financing
19.2% | 36,003
Financing
30.3% | 65,075
Financing
14.9% | 24,469
Investing
0.8% | 1,402
2022
2021
Investing
0.3% | 475
2020
Investing
0.8% | 1,696
Operating
80.0% | 149,882
Operating
68.9% | 148,234
Operating
84,8% | 139,451
Composition of Cash Disbursement 2020-2022 (Rp billion)
Financing
39.6% | 76,840
Financing
39.5% | 78,061
Financing
32.3% | 52,222
2022
2021
2020
Operating
39.4% | 76,528
Operating
40.5% | 79,881
Operating
45.7% | 74,134
Investing
21.0% | 40,652
Investing
20.0% | 39,399
Investing
22.0% | 35,731
COMPARISON OF CASH FLOW FOR YEAR ENDED DECEMBER 31, 2022 COMPARED TO
YEAR ENDED DECEMBER 31, 2021
At the end of 2022, TelkomGroup recorded cash and cash equivalents of Rp31,947 billion or US$2,052 million, while the
last year’s total cash and cash equivalents were Rp38,311 billion, which it decreased by 16.6% or Rp6,364 billion. The cash
receipts of operating activities in 2022 were Rp149,882 billion or 80.0% of total cash receipts, while the cash receipts
from financing activities were Rp36,003 billion or contributed to 19.2%. The least cash receipt in 2022 was investing
activities of Rp1,402 billion or contributed to 0.8% of total cash receipts.
In 2022, the cash disbursements for operating activities were Rp76,528 billion or 39.4% of total cash disbursements.
Then, cash disbursements were for financing activities of Rp76,840 billion or 39.6% of total cash disbursements, while
the least cash disbursements were from investing activities of Rp40,652 billion or 21.0%.
125
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
1. Cash Flow from Operating Activities
• Dividend received from associated company of
In 2022, net cash provided by operating activities were
Rp73,354 billion or US$4,712 million. Compared to the
last period, it increased by Rp5,001 billion.
•
Rp17 billion.
Increase in advances and other assets of Rp560
billion.
TelkomGroup recorded cash receipts from operating
activities of Rp149,882 billion in 2022, while, cash
receipts from operating activities for 2021 were
Rp148,234 billion, it increased by Rp1,648 billion or 1.1%.
The cash receipts were from:
• Cash receipts from customers and other operators
of Rp146,268 billion.
• Cash receipts for tax refund of Rp2,411 billion.
• Cash receipts from finance income of Rp865 billion.
• Cash receipts for other – net of Rp338 billion.
Cash disbursements for operating activities in 2022
were Rp76,528 billion. It decreased by 4.2% or Rp3,353
billion compared to the last cash disbursements of
Rp79,881 billion. TelkomGroup’s cash disbursements
were for:
• Cash payments for expenses of Rp45,559 billion.
• Cash payments to employees of Rp14,052 billion.
• Cash payments for corporate and final income
taxes of Rp8,465 billion.
• Cash payments for finance costs of Rp4,064 billion
• Cash payments for short-term and low-value lease
assets of Rp3,873 billion.
• Cash payments for Value Added Taxes – net of Rp515
billion.
2. Cash Flow from Investing Activities
In 2022, TelkomGroup’s net cash used in investing
activities was Rp39,250 billion or US$2,521 million. It
increased by Rp1,547 billion or 4.1% compared to the last
period of Rp37,703 billion. Cash receipts from investing
activities in 2022 were Rp1,402 billion, it decreased by
17.3% or Rp294 billion from the last period of Rp1,696
billion. Cash receipts were from:
• Proceeds from sale of property and equipment of
Telkom recorded cash disbursements for investing
activity of Rp40,652 billion in 2022. It increased by 3.2%
or Rp1,253 billion from the last year of Rp39,399 billion.
The cash disbursement was for:
• Purchase of property and equipment of Rp35,138
billion.
• Purchase of intangible assets of Rp3,259 billion.
• Additional of long-term investment in financial
instrument of Rp1,401 billion.
• Placement in other current financial assets-net of
Rp854 billion.
3. Cash Flows from Financing Activities
TelkomGroup recorded net cash used in financing
activities was Rp40,837 billion (US$2,623 million) while
in 2021 was minus Rp12,986 billion. TelkomGroup
received cash from financing activities of Rp36,003
billion, it decreased by 44.7% or compared to the last
period of Rp65,075 billion. The cash receipt was from:
• Proceeds from loans and other borrowings of
• Proceeds
Rp35,958 billion.
from
subsidiaries of Rp45 billion.
issuance of new shares of
Meanwhile, the cash disbursement for financing
activities was of Rp76,528 billion, it decreased by
Rp3,353 billion or 4.2% compared to the last period of
Rp78,061 billion. The cash disbursement was for:
• Repayments of
Rp44,304 billion.
loan and other borrowings of
• Cash dividends paid to the Company’s stockholders
of Rp14,856 billion.
• Cash dividends paid to non-controlling interests of
subsidiaries of Rp10,103 billion.
• Repayments of principal portion of lease liabilities
Rp526 billion.
of Rp6,896 billion.
• Proceeds from insurance claims of Rp299 billion.
• Buy back shares of non-controlling shareholders of
subsidiaries of Rp681 billion.
126
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
SOLVENCY
TelkomGroup’s 2022 Consolidated Financial Statements (Audited) show the Company’s decent liquidity, solvency, and
the ability to pay the short and long-term liabilities. TelkomGroup’s debt repayment originate from cash inflows from
operational activities, so that it shows the ability to manage its operations and liquidity.
SHORT-TERM LIABILITY
For measuring the ability to pay short-term debt, TelkomGroup uses the current ratio, quick ratio, and cash ratio to
maintain liquidity and ensure the funds’ availability to pay short-term debt. TelkomGroup’s strategy for short-term
debt is to keep the current ratio percentage above the industry average current ratio and maintain the loan availability
that can be withdrawn if needed.
TelkomGroup Liquidity Ratio 2020-2022
Ratio
2022
2021
2020
Current Ratio
Quick Ratio
Cash Ratio
78.2 %
59.9 %
47.3 %
88.6 %
68.7 %
56.1 %
67.3 %
48.4 %
31.7 %
LONG-TERM LIABILITY
TelkomGroup constantly monitors the Debt to Equity Ratio, the Debt to EBITDA Ratio, and the EBITDA to Interest
Expense Ratio to ensure its ability to pay its long-term debt. The TelkomGroup Consolidated Financial Statements
indicate a Debt to Equity Ratio of 0.42 times, a Debt to EBITDA Ratio of 0.80 times, and an EBITDA to Interest Expense
Ratio of 19.6 times. Those ratios conclude that TelkomGroup’s ability to pay the long-term debt has a relatively low risk
of default.
Ratio
2022
2021
2020
Debt to Equity Ratio
Debt to EBITDA Ratio
EBITDA to Interest Expense Ratio
0.42 X
0.80 X
19.6 X
0.48 X
0.91 X
17.3 X
0.54
0.91
15.9
X
X
X
To reduce interest expenses and exposure to interest rate fluctuations in the future, TelkomGroup tried to improve
its debt profile, particularly debt with floating interest. Further information regarding liquidity and the discussion
regarding the debt of Telkom and its subsidiaries can be seen in Notes 18 and 19 in TelkomGroup’s Consolidated
Financial Statements for 2022.
127
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk CAPITAL STRUCTURE AND THE MANAGEMENT
POLICIES FOR CAPITAL STRUCTURE
CAPITAL STRUCTURE
The Company’s capital structure consists of short-term debt, long-term debt, and equity. As of December 31, 2022, the
most significant composition of TelkomGroup’s capital structure was equity. There were no substantial changes to the
equity and capital composition in 2022 compared to the previous period.
Capital Structure 2020-2022 (Rp billion)
Equity
67.2% | 129,258
Short Term
4.3% | 8,191
Equity
63.8% | 121,646
Short Term
3.5% | 6,682
Equity
61.0% | 102,527
Short Term
5.9% | 9,934
2022
Long Term
28.5% | 54,850
2021
Long Term
32.7% | 62,396
2020
Long Term
33.1% | 55,528
Capital Structure
2022
2021
2020
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Debt
Short Term Debt
Long Term Debt
Equity
Total
63,041
8,191
54,850
129,258
192,299
4,049
526
3,523
8,302
12,351
69,078
6,682
62,396
121,646
190,724
65,462
9,934
55,528
102,527
167,989
MANAGEMENT POLICY FOR CAPITAL STRUCTURE
TelkomGroup is required to maintain its creditworthiness, as indicated in its credit rating and capital structure. In 2022,
TelkomGroup was able to keep the debt levels below the industry average, which it signified in the Debt to Equity Ratio
and Debt to EBITDA Ratio. Maintaining a solid capital structure is done by optimizing the cost of capital (weighted
average cost of capital), tax benefits and ensuring healthy financial ratios to maintain a balanced capital structure.
These measures support TelkomGroup’s capital structure policy to achieve an optimal funding composition. The
capital structure policy in the current year will become the basis for management decision-making in terms of adding
or paying the short-term and long-term debt.
In 2022, TelkomGroup’s Debt to Equity Ratio (DER) was 0.42 times, while in 2021, it was 0.48 times. TelkomGroup’s
Debt Service Coverage Ratio as of December 31, 2022, was 1.6 times, while in 2021, it was 1.6 times. Further information
regarding management’s policy on the capital structure is in Notes 38 Capital Management in the 2022 TelkomGroup’s
Consolidated Financial Statements.
128
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS
REALIZATION OF CAPITAL EXPENDITURE
Throughout 2022, TelkomGroup has realized capital expenditure investments tailored to the Company’s needs
and strategies to anticipate dynamic technology transformation. The denomination of TelkomGroup’s capital
expenditure investment is in two currencies, namely Rupiah (Rp) and US Dollar (US$).
STRATEGY AND OBJECTIVES OF INVESTMENT IN CAPITAL
EXPENDITURE
The objective and strategy in determining investment in capital expenditure are to support the expansion and
maintain business growth in the digital era based on digital connectivity, digital platforms, and digital services. In
2022, TelkomGroup constantly invested capital expenditure to build infrastructure capacity and capability in realizing
the higher and more dynamic demand.
TYPES OF INVESTMENT IN CAPITAL EXPENDITURE
Capital expenditure of Telkom and its subsidiaries are:
• Broadband services, comprising of mobile (4G, 5G) and fixed broadband;
• Network infrastructures, consist of core network, submarine cable, terrestrial cable, Metro-Ethernet, IP Backbone,
and satellite;
• Data Center, Cloud, TV Video, IoT, IT (smart platform, solution, and services); and
• Other supporting capital expenditures, such as supporting facility of connectivity, building, and power supply.
INVESTMENT VALUE IN CAPITAL EXPENDITURE
The total investment realization of TelkomGroup’s capital expenditure in 2022 was Rp34,156 billion or US$2,194 million.
It increased by 12.6% from the previous year of Rp30.341 billion. The following are some of TelkomGroup’s capital
expenditure:
• Constructed Telkomsel BTS.
• Building neuCentrix and hyperscale data center.
• Tower addition and its supporting capacity.
• National project of submarine cable system deployment, such as Lumori (Luwuk-Morowali-Kendari) submarine
cable, interisland Batam and North Papua submarine cable, and international submarine cable system.
• Telkomsat built high-throughput satellite (HTS) on the 133°E orbital to improve terrestrial network infrastructure.
TelkomGroup’s Capital Expenditure Investment 2020-2022
Years ended December 31
2022
2021
2020
(Rp billion)
(US$ million)
(Rp billion)
(Rp billion)
Total Investment in Capital Expenditure
34,156
2,194
30,341
29,436
129
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
MATERIAL COMMITMENT FOR CAPITAL
EXPENDITURE
OBJECTIVES OF MATERIAL COMMITMENT FOR CAPITAL
EXPENDITURE
TelkomGroup is necessary to make sustainable investments to accelerate digital transformation. We made several
material commitments for capital expenditure to support transmission and network equipment, as well as for other
digital infrastructure. The material commitment of TelkomGroup and other parties in the form of project agreements is
in Note 35 Significant Commitments and Agreements in the 2022 TelkomGroup’s Consolidated Financial Statements.
SOURCES OF FUNDS TO FULFILL OF MATERIAL COMMITMENT
FOR CAPITAL EXPENDITURE
In 2022, TelkomGroup had a good leverage to fund capital expenditures. TelkomGroup has several alternatives for
other funding, including using internal and external funding sources (such as bank funding, debt instruments, and
additional share capital for capital expenditure investment) according to a predetermined business plan.
DENOMINATED CURRENCIES OF MATERIAL COMMITMENT FOR
CAPITAL EXPENDITURE
TelkomGroup uses several currency denominations in material commitments for capital expenditure investment. It
consists of Rupiah and US Dollar. The most significant bond is in Rupiah currency of Rp10,046 billion.
Ikatan Material Berdasarkan Mata Uang per 31 Desember 2022
Table of Material Commitment based
on Currencies
Amounts in Foreign Currencies
(million)
Equivalent in Rupiah
(billion)
IDR
USD
Total
—
267
10,046
4,157
14,203
FOREIGN CURRENCY RISK MITIGATION OF MATERIAL
CONTRACTS FOR CAPITAL EXPENDITURE
Material commitments for capital expenditure using foreign currencies can be affected by fluctuations in exchange
rates. Therefore, TelkomGroup determines time deposits and receivables of at least 25% of the outstanding foreign
currency short-term liabilities so that TelkomGroup can offset exchange rate fluctuation losses with exchange rate
gains on time deposits and receivables.
A detailed explanation regarding material commitments for capital expenditure investment and foreign exchange
rate risk is in Note 35 Significant Commitments and Agreements and Note 37 Financial Instruments in the 2022
TelkomGroup’s Consolidated Financial Statements.
130
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS RECEIVABLES COLLECTABILITY
TelkomGroup had a decent receivables collectability level with consolidated maturity receivables as of December 31
for 2022 and 2021, which are not impaired or collectible of Rp1,876 billion and Rp3,417 billion. The accounts receivable
turnover ratio was recorded at 17.2%, and the average collection time ratio was 21.2 days.
TelkomGroup monitors receivables and collection balances regularly to minimize the customers’ credit risk. Methods in
collecting its accounts receivable are direct visits and collection to the customer, cooperating with partners regarding
account receivable collection service, and actively contacting customers via telephone, letter, or email.
TelkomGroup’s Receivables Collectability 2020-2022
Ratio
Average collection ratio (days)
Receivables turnover ratio (%)
Average Collection Duration Ratio (%)
2022
2021
2020
21.2
17.2
25.3
14.4
30.9
11.8
ANALYSIS AND EXPLANATION OF RECEIVABLES COLLECTABILITY
TelkomGroup classifies receivables in analyzing accounts receivable based on the age of accounts receivable.
Analysis of TelkomGroup’s Accounts Receivables by Age Period 2020-2022
Analysis of Accounts Receivable by Age
2022
2021
(Rp billion)
2020
Not past due
0 – 3 months
3 – 6 months
> 6 months
Total receivables before provision
Provision for impairment of receivables
Net receivables after provision
6,964
1,674
664
6,900
16,202
(7,568)
8,634
5,625
2,447
924
7,316
16,312
(7,802)
8,510
7,818
2,300
1,274
8,307
19,699
(8,360)
11,339
In 2022, TelkomGroup established a provision for impairment of trade receivables based on the collective historical
impairment rate and individual customer credit historical rates. Provision for impairment of receivables in 2022 was
Rp7,568 billion, lower than the provision for 2021 of Rp7,802 billion. Further discussion of TelkomGroup’s receivables is
in Note 5 Trade Receivables in the 2022 TelkomGroup’s Consolidated Financial Statements.
131
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk MATERIAL INFORMATION AND FACT AFTER
ACCOUNTANT REPORTING DATE
TelkomGroup continues complying with the transparency and accountability principles to implement good corporate
governance. Thus, TelkomGroup requires conveying material information and facts after the financial reporting date.
Some material information and facts that occurred after the date of the accountant’s report as of December 31, 2022,
are as follows:
Material Information and Fact After Accountant Reporting Date for 2022 Reporting Period
No.
1.
2.
3.
On February 6, 2023, Telkomsel paid the entire outstanding loans to Bank of China amounting to Rp1,000 billion.
Material Information and Facts
On February 15, 2023, Mitratel acquired 997 telecommunication towers belonging to PT Indosat Tbk. amounting to
Rp1,684 billion.
On March 16, 2023, The Company withdrawn facilities from Bank of China amounting to Rp1,000 billion.
Detailed explanations regarding the above transactions can be found in TelkomGroup’s 2022 Consolidated Financial
Statements, particularly in Note 40 Subsequent Event.
132
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS PROSPECTS AND SUSTAINABILITY
OF THE COMPANY
The telecommunications sector is one of the sectors that
grew positively during the COVID-19 pandemic. During
the pandemic, people’s consumption patterns have
shifted towards a digital lifestyle. It has led to increasing
internet consumption and data usage, which are the
primary growth factors of the telecommunications
sector. Telecommunications operators are competing to
expand and strengthen the network while increasing the
number of subscribers.
increase
The telecommunications growth has contributed to
in digital telecommunications services
the
(digital telco). This phenomenon has also accelerated
national digitalization, one of the main programs being
intensified by the Government of Indonesia. Telkom sees
this potential as an excellent opportunity to support
digitalization equity and quality improvement. Therefore,
Telkom has committed to transforming into a leading
digital telco. To accelerate the transformation, Telkom
builds a strong and competitive telecommunication
infrastructure. Telkom will focus on developing digital
connectivity, digital platforms, and digital services
through
in digital
its competence and capabilities
business. Telkom seizes opportunities to accelerate
digital business to provide sustainable growth for the
Company, optimal value for stakeholders, and benefits
for Indonesians.
The transformation into a digital telco company has
shown positive results, and as a digitalization locomotive
in Indonesia, Telkom will be proactive in looking over
market potential and opportunities for various business
expansions. The Company
implements the primary
strategy of Five Bold Moves to achieve the long-term goal
of becoming a world-class leading digital telco company
that positively impacts all stakeholders. Each Five Bold
Moves strategy has a different impact on the Company:
1. Fixed & Mobile Convergence (FMC) strengthens
market penetration and optimizes cost efficiency,
especially in the retail segment;
2. InfraCo maintains the Company’s position as the most
extensive infrastructure provider in Indonesia;
3. Data Center Co (DC Co) ensures that the Company can
capture the growth in demand for data centers;
4. B2B Digital IT Service Co strategy increases the
competitiveness of the B2B Digital IT business by
improving the service capability through partnership
with Tech Giants; and
5. DigiCo encourages potential new sources of revenue
for the Company by leveraging the digital ecosystem
growth.
Informatics
On the other hand, to anticipate the increasing digital
demand, the Government, through the Ministry of
Communication and
(MoCI), continues
to expand and accelerate the even distribution of the
internet network so that it covers all of Indonesia region
to remote areas. One of the Ministry of Communication
and Information measures is the construction of 4G
Base Transceiver Stations (BTS) in the 3T region (frontier,
disadvantaged and outermost region).
In addition,
with the beginning of the 5G network in Indonesia,
the Government also maximizes the network with this
latest technology to provide the required spectrum by
accelerating the migration from analog to digital TV.
It also supported the
Telkom seeks to increase its capacity, products, and
services to meet people’s needs in telecommunications.
The Company has deployed 173,266 km of fiber optic
networks.
infrastructure with
109 transponders, 265,194 base
two satellites with
transceiver stations
(BTS) of Telkomsel, and 37,918
telecommunication towers. In addition, Telkom has the
infrastructure to support digital platforms, such as 28 data
centers, with 23 domestic and 5 overseas data centers.
In the Mobile segment, TelkomGroup has the opportunity
to maximize the growth potential of high-value customers
and develop digital mobile services. Telkom will also
maximize 5G services to improve digital connectivity,
digital platforms, and digital services in Indonesia, as
well as the development of future tech solutions such as
artificial intelligence, cloud computing, and the Internet
of Things.
Along with the increasing activities at home, such as
work and study, shopping via e-commerce, and digital
entertainment, TelkomGroup will focus on improving
the quality of fixed broadband services. In the Consumer
segment, Telkom seeks to increase its service capacity
and coverage by synergizing the Mobile and Consumer
segments to develop innovative fixed wireless products
that complement each other to meet the increasing
demand for this segment’s services.
133
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk TelkomGroup implements a strategy in the Enterprise
segment by focusing on high profitability and recurring
business lines, such as enterprise connectivity, data
center, and cloud. In addition, regional improvement
in Enterprise segment is one of the main programs to
obtain the available market opportunity.
for
TelkomGroup focuses on improving tower, carrier, data
center services, network infrastructure, management
services
telecommunications network/service
providers, and domestic and regional digital ecosystems
in the Wholesale and International Business segment.
Data center development is also Telkom’s main focus
due to the high potential demand in line with the various
digital services development, such as e-commerce and
other digital solutions. The Company also develops
a global digital hub that provides direct broadband
connectivity across Europe, Asia, and America.
regulates
its digital
To maintain business continuity and respond to customer
needs, Telkom develops
infrastructure,
platforms, and services to support various activities in
every segment and social stratification. However, the
Job Creation Law’s derivative regulations are challenging
for Telkom, which
telecommunication
companies should share infrastructure and spectrum.
Because Telkom has the most expansive infrastructure
and network capacity in Indonesia, this policy benefits
competitors who can take advantage of Telkom’s
infrastructure network at a lower expense. Nevertheless,
Telkom will still strengthen the Company’s competitive
advantages to accelerate its vision of becoming the
leading digital telco and create equal digital sovereignty
in Indonesia.
COMPARISON OF INITIAL YEAR TARGET
AND THE REALIZATION
In 2022, TelkomGroup’s revenue grew by 2.9% to Rp147,306 billion. Telkom’s EBITDA and Net Profit in 2022 were
recorded at Rp78,992 billion and Rp20,753 billion. Meanwhile, the EBITDA margin and Net Profit margin were recorded
at 53.6% and 14.1%.
TelkomGroup’s capital expenditures in 2022 were Rp34,156 billion or 23.2% of total revenue. The following table
compares the initial target for 2022 with the realization as of December 31, 2022.
Comparison of TelkomGroup Targets and Realizations in 2022
Indicator
Realization In 2022
Targets In Initial 2022
Revenue Growth
Revenues grew by 2.9%.
EBITDA Margin and Net
Income Margin
EBITDA Margin increased to 53.6% while Net
Income Margin increased to 14.1%.
Capital Expenditure
The realization of capital expenditures is to
Rp34,156 billion, or 23.2% of revenue with
focused
in digital business
infrastructure.
investment
We estimate that the impact of the COVID-19
pandemic will still affect the Company for the
first half in particular. Overall, we expected the
Company to grow positively in the low to mid-
single digit range.
EBITDA Margin and Net Income Margin are
projected to slightly decreased in line with the
decline in legacy businesses shifting to digital
businesses.
Around 24%-27% of our revenue is planned
for capital expenditure, focusing on building
digital business infrastructure.
134
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS TARGET OR PROJECTIONS FOR THE
FOLLOWING YEAR
TelkomGroup strives to achieve sustainable Company growth based on the 2021-2025 Framework as the basis for a
corporate strategy that focuses on developing three main pillars: digital connectivity, digital platforms, and digital
services. These three pillars are supported by seven other pillars that serve as delivery directions: portfolio optimization,
technology, organization, synergy and operational excellence, individual and corporate culture, inorganic, and
corporate governance.
TelkomGroup targets the revenue to grow competitively in 2023, with IndiHome as the most significant contributor
and maintaining its dominance aggressively in the cellular market amid digital business development. As of 2022,
TelkomGroup invested in capacity expansion and maintaining service quality amidst increased traffic. Investment also
focused on developing digital platforms as business enablers in the future. Therefore, TelkomGroup plans a capital
expenditure allocation of around 25%-30% of the revenue to build the infrastructure.
TelkomGroup’s Target or Projections for The Following Year
Indicator
Revenue Growth
Target in 2023
We estimate that the impact of the COVID-19 pandemic and an increasingly competitive
climate will still affect the Company. Overall, the Company is expected to grow positively in the
low to mid-single-digit range.
EBITDA Margin and Net
Income Margin
EBITDA Margin and Net Income Margin are projected to increase slightly in line with the decline
in legacy business shifting to digital business (connectivity, platform, and service).
Capital Expenditure
Around 25%-30% of our revenue is planned for capital expenditures, focusing on building digital
business infrastructure.
Dividend Policy
The dividend payout ratio ranges from 60%-90%.
135
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk DIVIDEND
TelkomGroup annually distributes dividends in order to optimize value for shareholders. The dividend distribution
policy is through a process of determination and approval from the shareholders at the Annual General Meeting of
Shareholders (AGMS). TelkomGroup has set a dividend payout ratio that ranges from 60% to 90% in the last five years.
The dividend paid in 2022 for business performance in 2021 was Rp14,855,921 billion (60% from nett profit).
Telkom will determine the payout ratio, dividend amount, and total final dividend for 2022 performance at the AGMS
in the following year of 2023.
Telkom’s Dividend Payment for the Year 2017-2021 Operational Performance
Dividend
Year
Dividend Policy
Date of Dividend
Payment in Cash
and/or Date of
Dividend
Distribution in
Non-Cash
Payment Ratio
/ Payout ratio
(%) 1
Dividend
Amount paid
per year
(Rp million)
Dividend
Amount per
Share (cash
and/or non-
cash) after Stock
Split (Rp)
2017
2018
2019
2020
2021
RUPST, April 27, 2018
May 31, 2018
RUPST, May 24, 2019
June 27, 2019
RUPST, June 19, 2020
July 23, 2020
RUPST, May 28, 2021
July 2, 2021
RUPST, May 27, 2022
June 30, 2022
75.00
90.00
81.78
80.00
60.00
16,608,751
2
16,228,619 3
15,262,338 4
16,643,443 5
14,855,921
6
167.66
163.82
154.07
168.01
149.97
Remarks:
1. Represents the percentage of profit attributable to owners of the parent paid to shareholders in dividends.
2. Consists of cash dividend amounting to Rp13,286,997 million and special cash dividend amounting to Rp3,321,754 million.
3. Consists of cash dividend amounting to Rp10,819,080 million and special cash dividend amounting to Rp5,409,540 million.
4. Consists of cash dividend amounting to Rp11,197,606 million and special cash dividend amounting to Rp4,064,730 million.
5. Consists of cash dividend amounting to Rp12,482,582 million and special cash dividend amounting to Rp4,160,860 million.
6. Only consists of cash dividend amounting to Rp14,855,921 million.
136
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS REALIZATION OF PUBLIC OFFERING FUND
Telkom has issued several bonds which are currently outstanding and owned by investors. We have several
underwriters for bond issuance, namely PT Bahana Sekuritas, PT Danareksa Sekuritas, PT Mandiri Sekuritas, and PT
Trimegah Sekuritas Tbk, and a bank that is the trustee, namely PT Bank Permata Tbk. Telkom guarantees all bonds
with assets, and Pefindo assigns an idAAA rating to all Telkom bonds. The following table presents the unmatured bond
status as of December 31, 2022.
Realization of Telkom’s Public Offering Funds as of December 31, 2022
Name of the Bond
Amount
(Rp million)
Date of Issue
Maturity
Date
The Shelf Registered Bonds I Telkom
2015 series C
The Shelf Registered Bonds I Telkom
2015 series D
Obligasi Berkelanjutan I Telkom
Tahun 2015 seri D
2.100.000
June 23, 2015
June 23, 2025
1.200.000
June 23, 2015
June 23, 2030
1.500.000
June 23, 2015
June 23, 2045
30
Time
Periode
(year)
10
15
Realization of
Funds
Balance
(Rp
million)
0
0
0
Year
2016
2016
2016
Currently, Telkom has realized all the funds obtained from the public offering, with the remaining funds recorded
as nil. There is no change regarding the realization of the previously planned use of funds. Details related to bond
information can be seen in Note 18 Short-Term Bank Loans and Long-Term Loans Maturing Within One Year, and Note
19 Long-Term Loans and Other Loans in the 2022 TelkomGroup Consolidated Financial Statements.
137
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
MATERIAL INFORMATION REGARDING
TRANSACTION WITH CONFLICT OF
INTEREST, TRANSACTION WITH AFFILIATED
PARTIES, INVESTMENT, DIVESTMENT, AND
ACQUISITION
In 2022, TelkomGroup recorded affiliated transactions. Based on the review, Telkom stated that the implementation
of all affiliated transactions followed internal policies related to the Main Procedures for Affiliated Transactions and
Conflicts of Interest Transactions stipulated in the President Director’s Official Note and following the provision of
POJK No. 42/2020. On the other hand, no transactions with related parties contain conflicts of interest as they are
according to the principles of fairness and business practice during 2022.
Transaction
Transaction Type
Cause of Transaction
PT Telekomunikasi Selular Appointed
as a Winner of Selection for 2.1 Ghz
Radio Frequency Band Users for
the Purpose of 2022 Mobile Cellular
Network
Capital Injection to PT Fita Sehat
Nusantara by PT Telkomsel Ekosistem
Digital
Groundbreaking the Construction of
NeutraDC Hyperscale Data Center
Batam by PT Telkom Data Ekosistem
Investment
Affiliation
Affiliation
This additional spectrum will be
optimized to
increase capacity and
quality of mobile cellular network,
the building of prime
accelerate
quality with wide coverage 4G/LTE
infrastructure even for the 3T areas,
also extend 5G coverage gradually and
measurably in accordance to the needs
of the customers.
This capital injection is allocated to
develop product that prioritized not only
by user oriented, but also to complete
supporting features that will be used by
professional coach in order reach the
users’ objective. For helping societies
to live a healthy lifestyle, supported
by our market research that showed
there is not many health platforms that
focus on prevention, Fita has a vision to
become the leading integrated health
platform in Indonesia.
The development of TelkomGroup’s data
center business in Batam will support
the
long-term plan of data center
NeutraDC business development and
further increase TelkomGroup’s data
center business competitive advantage.
A further detailed list of affiliated transactions that must be disclosed in the Annual Report for the 2022 financial
year, can be seen in Note 32 regarding Related Parties Transactions in 2022 TelkomGroup’s Consolidated Financial
Statements and Appendix 4 in Annual Report for 2022 Reporting Period.
138
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS CHANGES IN LAW AND REGULATION
In line with Good Corporate Governance (GCG) practices,
TelkomGroup reviews any changes to the provisions of
laws and regulations that may affect operations. On
October 17, 2022, the Government passed Law Number
27 of 2022 regarding Personal Data Protection (PDP).
It generally regulates the standards of Personal Data
Protection, whether processed non-electronically or
electronically, depending on the sector’s characteristics.
We expect the PDP Law will create a balance between
individual and community rights whose interests are
represented by the state. We also hope that Personal
Data Protection will create order and improvement in
the information society.
TelkomGroup has implemented a data governance
implementation of
mechanism supported by the
internal policies, which aligned with the practice of
the PDP Law. In addition, TelkomGroup’s Data Sharing
Standard
includes: 1) Information Classification; 2)
Director Approval of the Use Case Owner; 3) Data
Owner Approval; 4) Approval of TelkomGroup’s Data
Governance Council; and 5) Implementing Personal
Data Cryptography, including Company Confidential
Data.
In addition, there is a Government Regulation in
Lieu of Law (Perpu) Number 2 of 2022 regarding Job
Creation (“Perpu 2/2022”), which revokes Law Number
11 of 2022 regarding Job Creation, thus changing part
of the provisions in Law Number 5 of 1999 regarding
Prohibition of Monopolistic Practices and Unfair
Business Competition (“Business Competition Law”),
namely provisions related to:
1. The transfer of the examination of objections to the
Indonesia Competition Commission (KPPU) decision
from the District Court to the Commercial Court;
2. Elimination of time limits for examining objections at
the Commercial Court and cassation at the Supreme
Court;
3. Addition of Article References in Administrative
Actions and elimination of a maximum fine of
Rp25,000,000,000.- (twenty five billion Rupiah) to a
minimum of Rp1,000,000,000.- (one billion Rupiah);
and
4. Elimination of basic and additional criminal
provisions.
the Government
On February 2, 2021,
issued
Government Regulation Number 44 of 2021 regarding
the Implementation of the Prohibition of Monopolistic
Practices and Unfair Business Competition, which
further regulates the KPPU’s authorities, sanctions
criteria, sanctions types, and the number of fines, as
well as examination of objections and cassation of
KPPU decisions.
Furthermore, on May 31, 2021, KPPU Regulation Number
2 of 2021 was promulgated regarding the Guidelines
for Imposing Fines for Violating Monopolistic Practices
and Unfair Business Competition, which contains
provisions for the calculation of fines, bank guarantees,
fines payment, and concessions in fines payment.
Based on KPPU Regulation Number 2 of 2021, KPPU
imposes administrative sanctions in a fine of at least
Rp1,000,000,000, - (one billion Rupiah) and a maximum
of 50% (fifty percent) of the net profit earned by the
Business Actor in the Relevant Market or a maximum
of 10% (ten percent) of the total sales in the Relevant
Market during the period of the Law violation occurred.
In addition, in 2022, KPPU issued KPPU Regulation
Number 9 of 2022 regarding Revocation of Indonesia
Competition Commission Regulation Number 3 of
2009 regarding Guidelines for the Application of
Article 1 Number 10 regarding Relevant Markets, so
that provisions for
interpreting Relevant Markets
will refer to the Business Competition Law as lastly
amended by Perpu 2/2022. KPPU also promulgates
KPPU Regulation Number 1 of 2022 regarding the
Business Compliance Program, which generally aims
to provide a compliance understanding for Business
Actors in preventing violations and encouraging the
implementation of business activities to comply with
the principles of fair business competition. One of the
benefits if you have registered a compliance program is
the right to sanctions reliefs that will be imposed if you
are proven to have violated the Law.
139
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk CHANGES IN ACCOUNTING POLICY
TelkomGroup’s Consolidated Financial Statements refers to the Financial Accounting Standards (SAK) issued by
the Indonesian Institute of Accountants (IAI) and complies with the Regulation of the Capital Market and Financial
Institution Supervisory Agency (Bapepam-LK) No. VIII.G.7 regarding the Presentation and Disclosure of Financial
Statements of Issuers or Public Companies, attached to the letter KEP347/BL/2012. In addition, TelkomGroup
applies the International Financial Reporting Standard (IFRS) accounting standards based on the Securities and
Exchange Commission (SEC) regulations.
Changes in accounting policies in 2022, including:
1. Amendments to PSAK 22 regarding References to the Conceptual Framework
2. Amendment to PSAK 57 regarding Onerous contracts – Cost of Fulfilling a contract
3. Annual Adjustment to PSAK 71 Financial Instruments
4. Annual Adjustment to PSAK 73 Leases
5. Amendments to IAS 16 regarding Proceeds before Intended Use
6. Amendments to IAS 37 regarding Onerous Contracts-Cost of Fulfilling a Contracts
7. Amendments to IFRS 3 regarding Reference to the Conceptual Framework
8. Amendments to IFRS 9 (Annual Improvement): Financial Instruments
9. Amendments to IFRS 16 (Annual Improvement): Leases
Implementation and Changes of Accounting Policies of TelkomGroup in 2022
No
Accounting
Policy
1.
PSAK 22
2.
PSAK 57
3.
PSAK 71
4.
PSAK 73
5.
IAS 16
6.
IAS 37
Reason for Change
DSAK issued amendments to
the accounting standards as the
adoption of IFRS 3
DSAK issued amendments to
the accounting standards as the
adoption of IAS 37
DSAK issued amendments to
the accounting standards as
the adoption of IFRS 9 (Annual
Improvement)
DSAK issued amendments to
the accounting standards as
the adoption of IFRS 16 (Annual
Improvement)
IASB issued amendments to IAS
16 regarding Proceeds before
Intended Use
IASB issued amendments to IAS
37 regarding Onerous Contracts-
Cost of Fulfilling a Contracts
Impact on Financial Statements for
Financial Year 2022
SAK Financial Report
IFRS Financial Report
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
140
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 04MANAGEMENT DISCUSSION AND ANALYSIS No
Accounting
Policy
7.
IFRS 3
8.
IFRS 9
9.
IFRS 16
Reason for Change
IASB issued amendments to
IFRS 3 regarding Reference to
The Conceptual Framework
IASB issued amendments
to IFRS 9 regarding (Annual
Improvement): Financial
Instrument
IASB issued amendments
to IFRS 16 regarding (Annual
Improvement): Leases
Impact on Financial Statements for
Financial Year 2022
SAK Financial Report
IFRS Financial Report
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
No impact on SAK financial
statements
No impact on IFRS financial
statements
Further details of the changes in accounting policies in Telkom’s financial statements for the current year is disclosed
in Note 2 Summary of Significant Accounting Policies of 2022 TelkomGroup’s Consolidated Financial Statements.
141
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk 05
CORPORATE
GOVERNANCE
05
CORPORATE
GOVERNANCE
144 Corporate Governance Principle and Platform
150 Corporate Governance Structure
151 Corporate Governance Assessment
152 General Meeting of Shareholders (GMS)
162 Board of Commissioners
186 Audit Committee
194 Committee for Nomination and Remuneration
199 Committee for Planning and Risk Evaluation and
Monitoring
203 Board of Directors
217 Corporate Secretary
221
Internal Audit Unit
226 Internal Control System
229 Risk Management System
246 Whistleblowing System
251 Policy Regarding Reporting Share Ownership of
Directors and Commissioners
252 Employee Stock Ownership Program
253 Significant Legal Disputes
253
Information Regarding Administrative Sanctions
254 Information Access and Company’s Public Data
255 Corporate Code of Conduct
257 Anti Corruption Policy
CORPORATE GOVERNANCE PRINCIPLE
AND PLATFORM
Telkom consistently applies the principles of Good
Corporate Governance (GCG) to fulfill the following
objectives:
1. Supporting Telkom’s purpose, “To build a more
prosperous and competitive nation as well as deliver
the best value to our Stakeholders”.
2. Supporting Telkom’s vision, “To be the most preferred
digital telco to empower the society”.
3. Supporting Telkom’s mission, “Advance rapid build
out of sustainable intelligent digital infrastructure
and platforms that are affordable and accessible
to all; nurture best-in-class digital talent that helps
develop nation’s digital capabilities and
increase
digital adoption; and orchestrate a digital ecosystem
to deliver superior customer experience”.
4. Providing added value and benefits for Shareholders
and Stakeholders.
5. Maintain and
improve
long-term health and
competitive business continuity.
6. Increase the trust of Shareholders and Stakeholders
in Telkom.
In implementing GCG, Telkom refers to various relevant
regulations as a reference, including:
1. Law No. 40 Year 2007 regarding Limited Liability
Companies;
2. Law No. 8 Year 1995 regarding Capital Market;
3. SOE Minister Regulation No. PER-01/MBU/2011
regarding the Implementation of Good Corporate
Governance in State-Owned Enterprises as amended
by State-Owned Enterprises Regulation No. PER-09/
MBU/2012 regarding Amendments to the Regulation
of the State Minister for BUMN No. PER-01/MBU/2011
regarding the Implementation of Good Corporate
Governance in State-Owned Enterprises.
4. Financial Services Authority Regulation No. 33/
POJK.04/2014 regarding Directors and Commissioners
of Issuers or Public Companies;
5. Financial Services Authority Regulation No. 34/
POJK.04/2014 regarding Nomination and Remuneration
Committee of Issuers or Public Companies;
6. Financial Services Authority Regulation No. 55/
POJK.04/2015 regarding Establishment and Guidelines
for Work Implementation of Audit Committee;
7. Financial
Service Authority Regulation No.11/
PJOK.04/2017 regarding Reports of Ownership or Any
Changes in Ownership of Public Company Shares.
8. Financial Services Authority Regulation No. 8/
POJK.04/2015 regarding Website of Issuers or Public
Companies;
9. Financial Services Authority Regulation No. 29/
POJK.04/2016 regarding Annual Report of Issuers or
Public Companies;
144
10. Financial Services Authority Regulation No. 21/
of
regarding
POJK.04/2015
Governance Guidelines for Public Companies;
Implementation
11. Financial Services Authority Circular Letter No. 32/
SEOJK.04/2015 regarding Governance Guidelines for
Public Companies;
12. Financial Services Authority Circular Letter No. 16/
SEOJK.04/2021 regarding Form and Content of Annual
Report of Issuers or Public Companies.
IMPLEMENTATION OF
GCG BASIC PRINCIPLES
Telkom also refers to GCG implementation guidelines,
including the principles of Corporate Governance
developed by the Organization for Economic Cooperation
and Development (OECD) and General Guidelines for
Indonesian Corporate Governance developed by the
National Committee on Governance Policy (KNKG).
The application of GCG best practices also refers to the
ASEAN Corporate Governance Scorecard.
Internally,
Telkom builds a strong foundation in the implementation
of GCG for Subsidiaries which is regulated in the Board
of Directors’ Resolution No. PD.602.00/r.00/HK000/
COP-D0030000/2011 regarding the TelkomGroup GCG
Guidelines as a guide for Telkom and its subsidiaries
in operating and transacting according to GCG ethics
and principles.
Telkom applies 5 (five) GCG principles in carrying out its
business processes, namely:
1. Transparency
a. The publication of financial statements and Annual
Report and other material information, such as the
decision making process as a means for investors to
access important information easily.
b. Information access in the form of company website,
print, and press releases, direct meeting with
Investor, public expose, and press gathering.
2. Accountability
a. The accessible charter, guide, or manual that
contains the clear
implementation,
and accountability of Shareholders, Board of
Commissioners, Directors, Committees,
and
Corporate Secretary.
functions,
b. Implement the mechanism of checks and balances
of authority and role in the management of the
Company.
c. Have a clear Key Performance Indicator (KPI) and
operational targets.
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
3. Responsibility
a. Comply with laws and/or tax regulations, fair competition, industrial relations, occupational health and safety,
payroll standards, and other relevant regulations.
b. Have mechanisms and procedures that regulate and evaluate compliance with applicable laws and regulations,
as well as implement good corporate principles.
c. Having a manager of Legal and Compliance function for ensuring the fulfillment of all rules and regulations.
4. Independency
a. To carry out professionalism within the Company without a conflict of interest and free from the influence of
pressures from other parties that are not appropriate with regulations and contrary to right corporate principles.
b. Include rules/authority for corporate decision making in the Board Manual and Company’s Articles of Association
which emphasizes independency.
c. Have additional policies in the Corporate Governance Guidelines oriented towards the principle of independency,
such as conflict of interest transaction policies, the prohibition of donations from political parties, and prohibitions
on affiliation.
5. Fairness
a. Apply the principles of equality and fairness in fulfilling the rights of Stakeholders that arise based on agreements
and applicable laws and regulations.
b. Respect the rights of minority Shareholders.
c. Prohibit the practice of insider trading.
d. Implement performance management based on a balanced scorecard.
e. Conducting open auctions in the procurement of goods/services and implementing e-procurement.
IMPLEMENTATION OF GCG MANAGEMENT
PRINCIPAL - FINANCIAL SERVICES AUTHORITY
Telkom has implemented 8 (eight) principles of corporate management in accordance with the Corporate Governance
Guidelines for Public Companies from the Financial Services Authority (OJK), as follows:
Principle
Recommendation
Implementation
Status
Principle 1
Improving The Value
of General Meeting
Shareholders (GMS).
1.
or
methods
Technical
procedures
for open and
closed voting that prioritizes
independence and interest of
the Shareholders.
Telkom already has technical procedures
for voting set out in the procedures for the
General Meeting of Shareholders.
Comply
2. Members of
the Board of
Directors and the Board of
Commissioners
the
Annual GMS.
attend
All of the members of the Board of Directors
and the Board of Commissioners attended
the GMS.
Comply
3.
A summary of minutes of GMS
is available at the Website at
least 1 year.
Telkom provided a Summary of Minutes of
GMS at the Company’s Website under Investor
Relations.
Comply
145
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
Principle
Recommendation
Implementation
Status
Comply
Comply
Comply
Comply
Comply
Comply
Telkom has a policy on communications with
investor through Non-Deal Roadshow, One
on One Meeting, Earnings Call, Public Expose,
Conference, and Investor Summit.
Telkom has made available materials of each
Earnings Call, Conference and materials of
presentation to investor at the Company’s
website to provide equality for Shareholders
and Investor regarding the implementation of
Communications with the Company.
Telkom has a policy on communications with
investor through Non-Deal Roadshow, One
on One Meeting, Earnings Call, Public Expose,
Conference, and Investor Summit.
At the Shareholders’ discretion, members
of the Board of Commissioners have been
appointed by taking into account a variety of
skills, knowledge, experiences and Telkom’s
business conditions, and complexity.
Based on the Joint Regulation of the Board
of Commissioners and Directors No. 05/
KEP/DK/2022 and No. PD.620.00/r.01/HK200/
COP-M4000000/2022 regarding Guidelines
for the Work Procedures of the Board of
Commissioners and Directors (Board Manual)
(Persero) PT
Limited Liability Company
Telekomunikasi Indonesia Tbk, there is a policy
to assess the performance of Company's
Board of Commissioners carried out by
Series A Dwiwarna shareholders through the
General Meeting of Shareholders mechanism.
Based on the Joint Regulation of the Board
of Commissioners and Directors No. 05/
KEP/DK/2022 and No. PD.620.00/r.01/HK200/
COP-M4000000/2022 regarding Guidelines
for the Work Procedures of the Board of
Commissioners and Directors (Board Manual)
(Persero) PT
Limited Liability Company
Telekomunikasi Indonesia Tbk, there
is a
policy for self-assessment which is disclosed in
the Annual Report.
Principle 2
Improving The Public
Listed Company
Communication Quality
with Shareholders or
Investors.
Principle 3
Strengthening The
Membership and
Composition of Board
of Commissioners.
Principle 4
Improving The
Quality of Duty and
Responsibility of Board
of Commissioners.
1.
2.
1.
2.
1.
a
policy
To
have
communications
Public
Shareholders or Investors.
Company
on
between
and
Posted the communications
policy of a Public Company at
the Website.
a
policy
To
have
communications
Public
Shareholders or Investors.
Company
on
between
and
Posted the communications
policy of a Public Company at
the Website.
The Board of Commissioners
has the policy to self-assess the
performance of the Board of
Commissioners.
2.
The self-assessment policy is
reported in the Annual Report.
146
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Principle
Recommendation
Implementation
3.
The Board of Commissioners
has a policy of resignation in
the event of involvement in any
financial crimes.
4.
The Board of Commissioners
through the Nomination and
Remuneration Committee for-
mulates a succession policy
in the process of nominating
members of the Board of
Directors.
Principle 5
Strengthening
Membership and
Compositions of Board
of Directors.
1.
Determination of the number
of members of the Board of
Directors takes
into account
conditions
the Company’s
and effectiveness in decision
making.
2. Determination
of
the
composition of members of
the Board of Directors takes
into account a variety of skills,
knowledge, and experiences as
required.
3. Members
of
the Board
of Directors
in charge of
accounting and finance have
skills and/or knowledge
in
accounting.
In accordance with Telkom’s Articles of
jo. Regulation of Financial
Association,
Services Authority No.
33/POJK.04/2014
regarding the Board of Directors and Board of
Commissioners of Issuers or Public Companies,
any member of the Board of Commissioners
who does not meet any requirements to be
a member of the Board of Commissioners
as set out in the Articles of Association and
Regulation of Financial Services Authority No.
33/POJK.04/2014 including any involvement
in any financial crimes, consequently his/her
position will be null and void.
In the event that the members of the Board
of Commissioners resign, it will be resolved at
the GMS.
in
and
Nomination
the Nomination
The
Remuneration
and
Committee
Remuneration Committee Charter states that
one of its duties is to provide recommendations
to the Board of Commissioners to be submitted
to the Series A Dwiwarna Shareholders, one of
which is regarding Succession Planning for
Members of the Board of Directors.
In addition, as a SOE, the provision of
succession of the Board of Directors refers
to Regulation of Minister of SOE No. PER-
03/MBU/02/2015 on the requirements, and
procedures for the appointment and dismissal
of a member of the Board of Directors of SOE.
Determination of the number of Directors
of the company refers to Article 2 paragraph
(1) and paragraph (2) of Financial Service
Authority Regulation No. 33/POJK.04/2014
regarding the Board of Directors and Board of
Commissioners of Issuers or Public Companies
which stipulates that the number of members
of the Board of Directors consists of at least 2
(two) members of the Board of Directors, of
which 1 (one) is appointed as President Director.
At the shareholders’ discretion, members
of the Board of Directors of the Company
have been appointed by taking into account
a variety of skills, knowledge, experiences,
and the Company’s conditions and business
complexity.
The members of the Board of Directors in
charge of accounting and finance in the
company
is the Finance Director & Risk
Management who has sufficient accounting
and financial knowledge and experience as
can be seen in the position and education
history of the Board of Directors under the
section of Profiles of the Board of Directors.
Status
Comply
Comply
Comply
Comply
Comply
147
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Principle
Recommendation
Implementation
Status
Principle 6
Improving The Quality
of Task execution and
Responsibility of Board
of Directors.
1.
2.
3.
The Board of Directors has
the policy to self-assess the
performance of the Board of
Directors.
The self-assessment policy is
reported in an Annual Report.
The Board of Directors has a
policy of resignation
in the
event of involvement in any
financial crimes.
Principle 7
Improving Corporate
Governance Aspect
Through Stakeholders
Participation.
1.
To have a policy to prevent
Insider Trading practice
2.
To have a policy of Anti-
Corruption and Anti-Fraud.
The Board of Directors has a policy that
regulates performance evaluation, process
and indicators for assessing the performance
of the Board of Directors individually and
collegially, this is stated in the Board of
Directors Performance Assessment section in
the Board Manual.
Results of the self-assessment of the Board
of Directors are reported in the Company’s
Annual Report under the section of Corporate
Governance.
Based on Telkom's Articles of Association
and Financial Service Authority Regulation
No. 33/POJK.04/2014 regarding the Board
of Directors and Board of Commissioners of
Issuers or Public Companies, any member of
the Board of Directors who does not meet the
requirements to become a member of the
Board of Directors and who is involved in a
financial crime, his position as Director will be
null and void.
In the event that the member of the Board of
Directors resigns, it will be decided through
the GMS mechanism.
Based on Regulation of the Director of Human
Capital Management No. PR 209.05/r.01/ K250/
regarding Employee
COP-A4000000/2020
Discipline, the policy to prevent Insider Trading
practice is contained in Article 5 regarding
prohibitions for each employee include abuse
of authority or position and unauthorized use
of company information.
implementation of
in
anti-corruption
Telkom is always committed to supporting
anti-corruption
the
and
corporate
the
environment by developing programs and
procedures as outlined in internal policies,
namely the Integrity Pact, Business Ethics,
LHKPN Reporting (Wealth Report of State
Administrators),
Discipline,
Gratification Control, and ISO implementation
37001:2016 Anti-Bribery Management System.
Employee
3.
To have a policy on the selection
and
capacity building of
Suppliers and Vendors.
Telkom selects suppliers and vendors based
on procurement policies that exist within
internally which are managed
Telkom
through the SSO Procurement & Sourcing
Center Unit which is carried out based on
Regulation of the Director of Finance & Risk
PR.301.08/r.05/HK240/
Management No.
COP-K0700000/2022 regarding Guidelines for
Procurement Implementation.
148
Comply
Comply
Comply
Comply
Comply
Comply
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Principle
Recommendation
Implementation
4.
To have a policy on
fulfillment of creditors’ rights.
the
5.
6.
1.
2.
Principle 8
Improving The
Implementation of
Information Disclosure.
have
To
Whistleblowing system.
a
policy
on
long-term
To have a Policy on the granting
of
to
the Board of Directors and
Employees.
incentives
Status
Comply
Comply
Comply
Telkom has a policy to fulfill the rights of our
Creditors through the Financial Accounting
Unit & Corporate Finance Unit that sets out
and manages the rights of Telkom’s creditors.
Through the Resolution of the Board of
Commissioners No. 01/KEP/DK/2022 regarding
Policies and Procedures
for Handling
Complaints (Whistleblowing System) within
the TelkomGroup which was later ratified
by Directors Regulation No. PD. 622.00/r.00/
HK200/COP-C0000000/2022 dated January
25, 2022, Telkom guarantees and ensures the
protection of the confidentiality of reporters,
both employees and third parties who submit
complaints or reports of alleged violations. This
Whistleblowing System develops complaint
channels into 7 (seven) complaint channels,
which can be accessed on the Telkom website
in the Telkom Integrity Line menu.
regarding Guidelines
In determining the incentives obtained by
the Board of Directors, Telkom is guided
by Regulation of Minister of SOE No. PER-
12/MBU/11/2020
for
Determining the
Income of the Board
of Directors, Board of Commissioners,
and Supervisory Board of State-Owned
Enterprises and their amendments as well
as Guidelines for the
Implementation of
Work (Charter) of Committee for Nomination
and Remuneration. As for employees, this
incentive is contained in the Collective Labor
Agreement regarding Compensation and
Benefits and Director of Human Capital
Management Regulation No. PR 207.22/r.00/
PS770/COP-J2000000/2016
regarding
Awards and Recognition which explain the
mechanism of giving rewards to employees
in the form of stock option as well as an
explanation of reward level, one of them at the
advanced level are rewarded consistently and
in the long-term financially.
To use wider
information
technology along with website
as a medium of information
disclosure.
The Annual Report of Public
Companies disclose the most
current beneficial owners of
the
ownership,
at least 5% other than major
shareholders and controllers.
company’s
Telkom also active in various social media
as medium for information disclosure and
product promotion. In addition, Telkom also
use the mailing list system as medium for
information disclosure and communication
with Investor.
Telkom discloses the ultimate beneficial owner
in the ownership of company shares with
ownership of 5% or more in Telkom's Annual
Report in the Composition of Shareholders
section.
Comply
Comply
149
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk CORPORATE GOVERNANCE STRUCTURE
Telkom implements a corporate governance structure in accordance with the provisions of the Capital Market and Law
no. 40 of 2007 regarding Limited Liability Companies. The Governance Structure at Telkom consists of Main Organs
and Supporting Organs, as follows:
MAIN ORGANS
BOARD OF
DIRECTOR
GENERAL MEETING OF
SHAREHOLDERS (GMS)
BOARD OF
COMMISSIONERS
SUPPORTING ORGANS
CORPORATE
SECRETARY
INTERNAL
AUDITOR
AUDIT
COMMITTEE
COMMITTEE FOR
NOMINATION AND
REMUNERATION
COMMITTE FOR PLANNING
AND RISK EVALUATION
AND MONITORING
150
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE CORPORATE GOVERNANCE ASSESSMENT
The principles of Good Corporate Governance (GCG) implemented by Telkom are able to support accountability and
increase business success. By implementing GCG within Telkom’s environment, Telkom can further increase value and
create a superior corporate image in the future. Going forward, Telkom is committed to implementing governance as
a whole in accordance with relevant regulations, including laws, government regulations, and ministerial regulations.
In addition, Telkom’s responsibility as an issuer listed on the Indonesia Stock Exchange cannot be separated from the
rules imposed by Financial Services Authority (OJK).
Telkom participates in the ranking of the ASEAN Corporate Governance Scorecard (ACGS) which is a parameter for
measuring governance practices initiated by the ASEAN Capital Market Forum (ACMF). The parameters used in ACGS
are based on OECD principles and are expected to increase investor confidence in listed companies in ASEAN.
The components of the ACGS assessment are as follows:
1. Rights of Shareholders.
The basic rights of shareholders include participating in decisions related to fundamental changes in the corporation,
participating effectively and using votes in GMS and the right to obtain information regarding the rules that apply
at GMS (including voting procedures).
2. Equal Treatment of Shareholders.
Provisions related to share ownership and voting rights, summons for GMS, prohibition of insider trading and abusive
self-dealing (abuse of authority), related party transactions conducted by members of the Board of Commissioners
and Board of Directors, as well as protection for minority shareholders from abusive acts.
3. The Role of Stakeholders.
Stakeholder rights stipulated by law or through collective agreements, development of mechanisms to improve
employee performance and participation, protection of stakeholder freedom of expression.
4. Disclosure and Transparency.
Transparency of ownership structure, quality and timely delivery of Annual Reports, disclosure of RPT (Related Party
Transactions) and company share transactions conducted by members of the Board of Directors and Board of
Commissioners, External auditors and Auditor’s Reports, Company communication media, and investor relations .
5. Board Responsibilities.
Provisions related to the duties and responsibilities, structure and performance of the Board of Directors and Board
of Commissioners.
Based on the results of the ACGS assessment organized by the Indonesian Institute for Corporate Directorship (IICD),
Telkom has managed to maintain the title of “Very Good” for the last 3 (three) years.
Telkom’s GCG implementation has succeeded in bringing the company to an appreciation from the 13th IICD Corporate
Governance Award 2022. Telkom won The Best State-Owned Enterprise in the category of Top 50 Issuers with the
Largest Market Capitalization. This event is an initiation from Indonesian Institute for Corporate Directorship (IICD)
as a form of appreciation to companies that have been able to implement good corporate governance. Furthermore,
the IICD recommendations from the results of the 2022 ACGS assessment of the implementation of GCG at Telkom
were reported along with the follow-up by Telkom to the Head of Risk Management and Compliance at the Ministry
of State-Owned Enterprises.
Then Telkom also received an award from Warta Ekonomi as Excellence Good Corporate Governance Implementation
on Strengthening the Company’s Business Lines in the Information, Technology and Communication category. Through
the 2022 Indonesia Excellence Good Corporate Governance Awards: Implementing a Continuous Process, Telkom is
considered capable of consistently implementing GCG in managing its company’s activities. The implementation of
good corporate governance will certainly have a positive impact on the process of business growth, company value
and shareholders in a sustainable manner and create fair market competition and a conducive business climate, and
ultimately contribute to developing Indonesia.
151
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk GENERAL MEETING OF SHAREHOLDERS (GMS)
General Meeting of Shareholders (GMS) is Telkom’s general meeting one of the governance organ that functions as
a means for shareholders to make important and strategic decisions. Annual GMS (AGMS) is held once every year in
accordance with Telkom’s Articles of Association and the laws and regulations and has the following routine discussion
agenda:
1. Approval of the Company’s Annual Report, including Board of Commissioners Supervisory Task Report.
2. Ratification of the Company’s Financial Statement and Annual Partnership and Community Development Program
Report, as well as the Exemption of Liabilities of the members of the Board of Directors and Commissioners.
3. Determination of Company’s Net Income, including dividend payment in the Financial Year.
4. The determination of remuneration for the members of the Board of Directors and Commissioners.
5. The appointment of Public Accounting Firm to audit the Company’s Financial Statements, including audit of Internal
Control over Financial Reporting and Appointment of a Public Accounting Firm to audit Financial Statements
of Partnership and Community Development Programs.
6. Any other agenda proposed by one or more shareholders that represent 1/20 or more of all shares that have
a voting right.
AGMS FOR THE 2020 FINANCIAL YEAR
On May 28, 2021, AGMS was held for the performance of the 2020 Financial Year. At the AGMS, the Company appointed
independent parties to carry out vote counts and/or conduct validation at the meeting of the Securities Administration
Bureau PT Datindo Entrycom and Notary Utiek R. Abdurachman SH. , MLI., MKn. with details of the agenda, vote count
and realization of the 2020 AGMS resolutions as follows:
Agenda
AGMS Resolution
Status of the AGMS
Resolution
1.
Approve the Annual Report for the Financial Year of 2020 including the Supervisory Report
Resolution effective
of the Board of Commissioners, and ratify the Consolidated Financial Statements of the
immediately.
Company for the Financial Year of 2020 which have been audited by the Public Accounting
Firm (KAP) Purwantono, Sungkoro & Surja (member firm of Ernst & Young Global Limited)
according to the report Number: 00884/2.1032/AU.1/06/1007-2/1/IV/2021 dated 29 April, 2021
with an opinion “fair, in all material respects”, as well as provide full acquittal and discharge
of responsibility (volledig acquit et de charge) to the Board of Directors and the Board of
Commissioners of the Company for management and supervision actions that have been
carried out in the Financial Year ending on 31 December, 2020 as long as these actions would
not be considered as criminal acts and are reflected in the report books of the Company.
Agree
Disagree
Abstain
The Result of Decision Making
78,476,251,347 shares or 96.2584707%
1,782,798,421 shares or 2.1867692%
1,267,542.900 shares or 1.5547601%
2.
Ratify the Annual Report of the Partnership and Community Development Program (PKBL)
Resolution effective
for the Financial Year of 2020 and ratify the Financial Statements of PKBL of 2020 which
immediately.
have been audited by KAP Purwantono, Sungkoro & Surja (member firm of Ernst & Young
Global Limited) according to the report Number: 00094/2.1032/AU.2/11/0687-4/1/II/2021 dated
23 February, 2021 with an opinion “fair in all material respects”, as well as provide full acquittal
and discharge of responsibility (volledig acquit et de charge) to the Board of Directors and
the Board of Commissioners of the Company for management and supervision actions
PKBL for the Financial Year of 2020, as long as these actions are not criminal acts and are
reflected in the report.
152
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Agenda
AGMS Resolution
Status of the AGMS
Resolution
Agree
Disagree
Abstain
The Result of Decision Making
76,258,022,462 shares or 93.5376053%
3,980,720,606 shares or 4.8827266%
1,287,849,600 shares or 1.5796681%
3.
1. To approve and determine the appropriation of the Company’s net profit for the Financial
• Dividend distribution
Year 2020 in the amount of Rp20,804,310,657,418.00 (twenty trillion eight hundred four
was conducted on July
billion six hundred fifty-seven thousand and four hundred eighteen) as follow:
2, 2021.
• Dividend distribution
was conducted on July
2, 2021.
a. Cash Dividend amounting to 60% of the net profit or
in the amount of
Rp12,482,586,394,450.80 (twelve trillion four hundred eighty two billion five hundred
eighty six million three hundred ninety four thousand and four hundred fifty Rupiah
point eighty cents) or amounting to Rp126.0075 (one hundred twenty six point zero
zero seven five Rupiah) per shares based on issued shares on the date of the Meeting,
amounting to 99,062,216,600 (ninety nine billion sixty two million two hundred sixteen
thousand and six hundred) shares;
b. Special Dividend amounting to 20% of the net profit or in the amount of
Rp4,160,862,131,483.60 (four trillion one hundred sixty billion eight hundred sixty two
million one hundred thirty one thousand and four hundred eighty three Rupiah point
sixty cents) or amounting to Rp42.0025 (forty two point zero zero two five Rupiah)
per shares based on issued shares on the date of the mvzeeting, amounting to
99,062,216,600 (ninety nine billion sixty two million two hundred sixteen thousand and
six hundred) shares;
c. Recorded as Retained Earnings in the amount of 20% from net profit or amounting to
Rp4,160,862,131,483.60 (four trillion one hundred sixty billion eight hundred sixty two
million one hundred thirty one thousand four hundred eighty three Rupiah point sixty
cents) which will be used for the development of the Company.
2. The distribution of Cash Dividend and Special Dividend for the Financial Year 2020 will be
conducted with the following conditions:
a. Those who are entitled to receive Cash Dividend and Special Dividend are shareholders
whose names are recorded in the Company’s Shareholders on June 10, 2021, up to 16.15
Western Indonesia Time;
b. Cash Dividend and Special Dividend shall be paid all at the latest on July 2, 2021.
3. To grant the power and authority to the Board of Directors with the right of substitution
to further regulate the procedure of dividend distribution and to announce the same
with due regard to the prevailing laws and regulations in the stock exchange where the
Company’s shares are listed.
Agree
Disagree
Abstain
The Result of Decision Making
76,157,129,413 shares or 93.4138505%
3,996,685,689 shares or 4.9023092%
1,372,777,566 shares or 1.6838402%
153
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Agenda
AGMS Resolution
Status of the AGMS
Resolution
4.
1. To grant power and authority to Shareholder Serie A Dwiwarna to determine the amount
Resolution effective
of tantieme for Financial Year 2020 and to determine honorarium allowance, facility, and
immediately.
other incentives to members of the Board of Commissioners for Year 2021.
2. To grant power and authority to the Board of Commissioners which previously has
obtained written approval from Shareholder Serie A Dwiwarna to determine the amount
of tantieme for Financial Year 2020 and also to determine salary, allowance, facility, and
other incentives to members of the Board of Directors for Year 2021.
Agree
Disagree
Abstain
The Result of Decision Making
75,089,718,737 shares or 92.1045714%
4,488.754,931 shares or 5.5058782%
1,948,119,000 shares or 2.3895504%
5.
1. To reappoint the Public Accounting Firm Purwantono, Sungkoro & Surja (a member firm
Resolution effective
of Ernst & Young Global Limited) to conduct an integrated audit of the Company which
immediately.
include the audit of the Consolidated Financial Statements of the Company, including
the Internal Control Audit over Financial Reporting and to audit the Financial Statements
of Partnership and Community Development Program for the Financial Year 2021.
2. To grant authority to the Board of Commissioners of Company to determine the
appropriate audit fee, addition of the scope of work required and other terms, and
conditions of the relevant Public Accounting Firm.
3. To grant power and authority to the Board of Commissioners which previously has obtained
written approval from Shareholder Serie A Dwiwarna to determine the substitute Public
Accounting Firm in Purwantono, Sungkoro & Surja (a member firm of Ernst & Young Global
Limited), in the event cannot complete its duty for any reason to audit of Financial Reporting
and the Financial Statements of Partnership and Community Development Program for
the Financial Year 2021.
Agree
Disagree
Abstain
The Result of Decision Making
77,741,267,774 shares or 95.3569446%
2,428,372,047 shares or 2.9786257%
1,356,952,847 shares or 1.6644297%
6.
1. Approve amendment to the Articles of Association to adjust to the Regulation of the
Resolution effective
Financial Services Authority Number 14/POJK.04/2019 regarding Amendment to the
immediately.
Regulation of the Financial Services Authority Number 32/POJK.04/2015 regarding
Increase in Capital for Public Companies by Providing Pre-emptive Rights, Regulation
if the Financial Services Authority Number 15/POJK.04/2020 regarding Plans and
Implementation of General Meeting of Shareholders of Public Companies, and Regulation
of the Financial Services Authority Number 16/POJK.04/2020 regarding Implementation
of General Meeting of Shareholders of Public Companies Electronically
2. Approve the amendment to the Articles of Association of the Company to adjust the
company’s business activities to the Indonesian Standard Industrial Classification of 2020.
3. Approve to reconstitute all provisions of the Articles of Association of the Company in
connection with the amendments as referred to in points 1 and 2 of the a for rementioned
decisions.
154
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Agenda
AGMS Resolution
Status of the AGMS
Resolution
4. Grant power and authority to the Board of Directors of the Company with the right of
substitution to take all necessary actions in connection with the resolutions of the agenda
of this Meeting, including reconstitute and restate the entire Articles of Association of
the Company in a Notary Deed, and grant the power with the right of substitution to
submit to the competent authority to obtain a receipt of notification of amendments
to the Articles of Association of the Company, conduct everything deemed necessary
and useful for this purpose with nothing is excluded, including to make additions and/
or any alterations of the amendments to the Articles of Association, if it is required by the
competent authority.
Agree
Disagree
Abstain
The Result of Decision Making
58,233,851,711 shares or 71.4292721%
21,672,557,680 shares or 26.5834214%
1,620,183,277 shares or 1.9873065%
7.
Affirm the enforcement of Regulation of the Minister of SOE Number PER-11MBU/11/2020 dated
Resolution effective
12 November 2020 regarding Management Contracts and Annual Management Contracts for
immediately.
the Board of Directors of State-Owned Enterprises as well as the amendments there of.
Agree
Disagree
Abstain
The Result of Decision Making
80,126,825,278 shares or 98.2830542%
111,866,990 shares or 0.1372153%
1,287,900,400 shares or 1.5797304%
Resolution effective
immediately.
8.
1. To honorably dismiss the following members of the Board of Commissioners of the
Resolution effective
Company:
No. Name
Position
immediately.
1)
Mr. Rhenald Kasali
President Commissioner/Independent
Mr. Alex Denni
Commissioner
Commissioner
Mr. Ahmad Fikri Assegaf
Commissioner
Mr. Chandra Arie Setiawan
Independent Commissioner
Mr. Marsudi Wahyu Kisworo
Independent Commissioner
2)
3)
4)
5)
Each was appointed based on the resolution of the Annual GMS of the financial year of
2018, Annual GMS of the financial year of 2019, effective as of the close of this GMS, with
gratitude for the contribution of efforts and thought during their term as the member
of the Board of Commissioners of the Company.
2. To appoint the names below as members of the Board of Commissioners of the Company:
No. Name
Position
1)
Mr. Bambang Permadi Soemantri
President Commissioner/Independent
Brodjonegoro
Commissioner
Mr. Isa Rachmatarwata
Commissioner
Mr. Arya Mahendra Sinulingga
Commissioner
Mr. Bono Daru Adji
Independent Commissioner
Mr. Abdi Negara Nurdin
Independent Commissioner
2)
3)
4)
5)
155
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Agenda
AGMS Resolution
Status of the AGMS
Resolution
3. To confirm the honorably dismissal of Mr. DIAN RACHMAWAN as Wholesale & Inter-
national Service Director who was appointed based on Annual GMS financial year 2019,
effective as of the closing of this GMS, with gratitude for the contribution of efforts and
thought during their term as the member of the Board of Directors of the Company.
4. To change the nomenclature of positions for members of the Board of Directors of
the Company, from originally as Director of Finance to Director of Finance and Risk
Management.
5. Re-assign Mr. Heri Supriadi, who was appointed based on the Resolution of the Annual
General Meeting of Shareholders for the Financial Year of 2019, previously the Director of
Finance to become the Director of Finance and Risk Management, with a term of office
continuing the remaining term of office in accordance with the resolution of the AGM.
6. Reappoint Mr. Bogi Witjaksono as Wholesale & International Service Director.
7. The term of office of the appointed members of the Board of Commissioners and the
Board of Directors as referred to in number 2 and number 6, is in accordance with the
provisions of the Articles of Association of the Company, with due observance of the laws
and regulations in the capital market sector and without prejudice to the right of the GMS
to dismiss at any time.
8. With the confirmation of dismissal, and the appointment of members of the Board of
Commissioner as referred to in number 1, and number 2, as well as the dismissal, changes
in nomenclature of positions, re-assignment, and the appointment of members of the
Board of Directors as referred to in number 3, number 4, number 5 dan number 6, the
composition of members of the Board of the Company shall be as follows:
a. Board of Commissioners
No.
1)
2)
3)
4)
5)
6)
7)
8)
9)
Name
Position
Mr. Bambang
President Commissioner/Independent
Permadi
Soemantri
Brodjonegoro
Commissioner
Mr. Wawan
Independent Commissioner
Iriawan
Mr. Bono Daru
Independent Commissioner
Adji
Mr. Abdi Negara
Independent Commissioner
Nurdin
Mr. Marcelino
Commissioner
Rumambo
Pandin
Mr. Ismail
Commissioner
Mr. Rizal
Commissioner
Mallarangeng
Mr. Isa
Commissioner
Rachmatarwata
Mr. Arya
Mahendra
Sinulingga
Commissioner
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Agenda
AGMS Resolution
b. Board of Directors
No.
Name
Position
Status of the AGMS
Resolution
1)
2)
3)
4)
5)
6)
7)
8)
9)
Mr. Ririek
Adriansyah
President Director
Mr. Budi
Strategic Portofolio Director
Setyawan Wijaya
Mr. Edi Witjara
Enterprise and Business Service Director
Mr. Heri Supriadi
Financial Risk Management Director
Mr. Herlan
Wijanarko
Network & IT Solution Director
Mr. Bogi
Wholesale and International Service
Witjaksono
Director
Mr. Muhammad
Digital Business Director
Fajrin Rasyid
Mr. Afriwandi
Human Capital Management Director
Mrs. FM
Consumer Service Director
Venusiana R.
9. Members of the Board of Directors and the Board of Commissioners, who are appointed as
referred to in number 2 and number 6, however still in other positions that are prohibited
based on laws and regulations to be concurrent with the position of member of the Board
of Directors or the Board of Commissioners of a State-Owned Enterprise, must resign or
be dismissed from such position.
10. To grant power and authority to the Board of Directors of the Company, with the right of
substitution, to state of the resolution as adopted in the GMS in the Notarial Deed and to
appear before Notary or authorized official and to make any adjustments or corrections
which are necessary when required by the competent authority for the purposes of
implementation of the resolutions of the meeting.
Agree
Disagree
Abstain
The Result of Decision Making
55,156,958,053 shares or 67.6551739%
23,162,924,856 shares or 28.4114963%
3,206,709,759 shares or 3.9333298%
In practice, AGMS decision of the Financial Year of 2020 immediately applies to business implementation
and Company operation.
157
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk AGMS FOR THE 2021 FINANCIAL YEAR
On May 28, 2021, AGMS was held for the performance of the 2020 Financial Year. At the AGMS, the Company appointed
independent parties to carry out vote counts and/or conduct validation at the meeting of the Securities Administration
Bureau PT Datindo Entrycom and Notary Ashoya Ratam SH., MKn . with details on the agenda, vote count and
realization of AGMS resolutions for the 2021 Financial Year as follows:
Status of the AGMS
Resolution
Resolution effective
immediately.
Resolution effective
immediately.
Agenda
1.
2.
AGMS Resolution
Approved the Annual Report of the Company for the Financial Year of 2021
including the Report on the Supervisory Duties of the Board of Commissioners,
and ratified the Consolidated Financial Statements of the Company for the
year ended on December 31, 2021 which have been audited by the Public
Accounting Firm (KAP) Purwantono, Sungkoro & Surja (a member firm of
Ernst & Young Global Limited) according to its report Number: 00614/2.1032/
AU.1/06/0702-1/1/IV/2022 dated April 18, 2022 with an opinion of “fair, in
all material respects”, as well as provided full acquittal and discharge of
responsibility (volledig acquit et de charge) to the Board of Directors and
Board of Commissioners of the Company for management and supervision
actions that have been carried out in the Financial Year ended on December
31, 2021 as long as the action is not a criminal offense and has been reflected in
the aforementioned Report.
Agree
Disagree
Abstain
The Result of Decision Making
86,750,611,190 shares or 99.4895581%
393,836,612 shares or 0.4516698%
51,246,733 shares or 0.0587721%
Ratified the Financial Statements and Implementation of Social and
Environmental Responsibility Program of the Company for the Financial
Year of 2021 which includes the Financial Report of the Micro and Small
Business Funding Program that have been audited by the Public Accounting
Firm (KAP) Purwantono, Sungkoro & Surja (a member of firm of Ernst &
Young Global Limited) according to its report Number: 00046/2.1032/AU.2/11/
0687-5/1/II/2022 dated February 4, 2022, and provides full acquittal and
discharge of responsibility (volledig acquit et de charge) to the Board of
Directors and Board of Commissioners of the Company for the management
and supervision action on the Social and Environmental Responsibility
Program which ended on December 31, 2021 as long as the action is not a
criminal offense and has been reflected in the aforementioned Report.
Agree
Disagree
Abstain
The Result of Decision Making
86,878,103,517 shares or 99.6357721%
260,667,085 shares or 0.2989449%
56,923,933 shares or 0.0652830%
158
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Status of the AGMS
Resolution
Dividend distribution was
conducted on June 30, 2022.
The decision on retained
earning effective immediately.
Agenda
3.
AGMS Resolution
1. Determined the utilization of the Company’s net profit for the Financial
Year of 2021, which totally in the amount of Rp24,759,868,402,874.00, shall
be allocated as follows:
a. Cash Dividend amounting to 60% of the net profit or in the amount of
Rp14,855,921,041,724.40 or Rp149.9656 per share, based on the amount of
shares issued on the date of the Meeting, amounting to 99.062.216.600
shares.
b. Recorded as Retained Earnings in the amount of 40% of the net
profit or amounting to Rp9,903,947,361,149.60 which will be utilized for
Company’s business development
2. The distribution of Cash Dividend for the Financial Year of 2021 shall be
conducted with the following conditions:
a. Those who are entitled to receive Dividend are shareholders whose
names are recorded in the Register of Shareholders of the Company at
the close of the trading of the Company’s shares on the Indonesia Stock
Exchange on June 9, 2022.
b. Cash Dividend will be fully paid at the latest on July 1, 2022.
3. Granted power and authority to the Board of Directors with the right of
substitution to further regulate the procedure of dividend distribution
and to announce the same with due regard to the prevailing laws and
regulations at the stock exchange where the Company’s shares are listed.”
Agree
Disagree
Abstain
The Result of Decision Making
83,598,594,269 shares or 95.8746813%
3,537,310,930 shares or 4.0567495%
59,789,336 shares or 0.0685691%
Resolution effective
immediately.
4.
1. Granted power and authority to Shareholder of Serie A Dwiwarna to
determine the amount of tantiem for the members of the Board of
Commissioners for performance in the Financial Year of 2021 as well as
salary/honorariums, benefits, facilities,, and other incentives for Year of 2022.
2. Granted power and authority to the Board of Commissioners after obtaining
written approval from the Shareholder of Serie A Dwiwarna to determine
the amount of tantiem to the members of the Board of Directors for the
Financial Year of 2021
as well as salary/honorariums, benefits, facilities, and other incentives for
Year of 2022.”
Agree
Disagree
Abstain
The Result of Decision Making
75,005,483,919 shares or 86.0197104%
12,149,969,480 shares or 13.9341392%
40,241,136 shares or 0.0461504%
159
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Status of the AGMS
Resolution
Resolution effective
immediately.
Agenda
5.
AGMS Resolution
1. Reappointed the Public Accounting Firm (KAP) Purwantono, Sungkoro &
Surja (a member firm of Ernst & Young Global Limited) as KAP that will
audit the Consolidated Financial Statements of the Company and Report
of Micro and Small Business Funding Program of the Company for the
Fiscal Year 2022.
2. Granted power and authority to the Board of Commissioners of the
Company to appoint KAP to conduct an audit of the Consolidation Financial
Statements of the Company for other periods in Financial Year of 2022.
3. Granted authority the Board of Commissioners of the Company to determine
the audit services fee and other requirements for the KAP, as well as determine
replacement KAP in case KAP Purwantono, Sungkoro & Surja (a member firm
of Ernst & Young Global Limited), for any reason, is not able to complete the
audit of the Consolidated Financial Statements of the Company, Report of
Micro and Small Business Funding Program of the Company as well as other
reports for the Financial Year of 2022, including determining audit service fee
and other requirements for the replacement KAP.”
Agree
Disagree
Abstain
The Result of Decision Making
83,776,438,962 shares or 96.0786417%
3,249,334,273 shares or 3.7264848%
169,921,300 shares or 0.1948735%
6.
1. Approved the Amendment to the Articles of Association of the Company
to adjust the Business Activities of the Company to be in line with the
Indonesia Standard Industrial Classification of 2020.
Resolution effective
immediately.
2. Approved to reconstitute all provisions of the Articles of Association of the
Company in connection with the amendment as referred to point 1 of this
resolution.
3. Granted power and authority to the Board of Directors of the Company
with the right of substitution to take all necessary actions in connection
to the resolutions of the agenda of this Meeting, including reconstitute
and restate the entire Articles of Association of the Company in a Notarial
Deed and granted power with the right of substitution to submit the same
to the competent authority in order to obtain approval and/or receipt of
notification regarding amendment to the Articles of Association of the
Company, conduct everything as may be deemed necessary and useful for
this purpose with nothing excluded, including to make additions and/or
any alterations of amendments to the Articles of Association, if it is required
by the competent authority.
Agree
Disagree
Abstain
The Result of Decision Making
62,197,663,488 shares or 71.3311177%
24,639,007,047 shares or 28.2571372%
359,024,000 shares or 0.4117451%
160
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Agenda
7.
AGMS Resolution
Status of the AGMS
Resolution
1. Affirmed the enforcement of MSOE Regulation No. PER-05/MBU/04/2021
regarding Corporate Social and Environmental Responsibility Program of
State-Owned Enterprises as well as the amendments thereof.
Resolution effective
immediately.
2. Affirmed the enforcement of MSOE Regulation No. PER-11/MBU/07/2021
regarding Requirements and Procedures of Appointment and Dismissal
of the Member of Board of Director of State-Owned Enterprises as well as
the amendments thereof.
3. Affirmed the enforcement of MSOE Regulation No. PER-13/MBU/09/2021
regarding the Sixth Amendment to the MSOE Regulation No. PER-04/
MBU/2014 regarding Guidelines for the Determination of Remuneration of
Board of Directors,
Board of Commissioners, and Supervisory Board of State-Owned
Enterprises as well as the amendments theretof.
Agree
Disagree
Abstain
The Result of Decision Making
83,745,134,639 shares or 96.0427405%
3,382,011,496 shares or 3.8786451%
68,548,400 shares or 0.0786144%
8.
Approved the delegation of power and authority to the Board of Commissioners
to approve the Statement of Founder of the Telkom Pension Fund regarding
the Amendment to the Regulations of the Telkom Pension Fund which results
in Changes in Funding and/or Amount of Pension Benefits.”
Resolution effective
immediately.
Agree
Disagree
Abstain
The Result of Decision Making
71,123,484,529 shares or 81.5676564%
15,657,110,706 shares or 17.9562888%
415,099,300 shares or 0.4760548%
In practice, AGMS decision of the Financial Year of 2021 immediately applies to business implementation
and Company operation.
161
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk BOARD OF COMMISSIONERS
The Board of Commissioners is one of the organs of
the Company and has duties and responsibilities that
collectively oversee the running of the Company and
provide advice to the Board of Directors, based on Law
no. 40 of 2007 regarding Limited Liability Companies. In
addition, the Board of Commissioners is also tasked with
ensuring that the implementation of GCG principles has
been implemented in every Telkom business practice.
BOARD OF COMMISSIONERS’
CHARTER
The work guidelines for Telkom’s Board of Commissioners
are regulated
in Board Manual of the Board of
Commissioners and Directors which was approved and
signed by the Board of Commissioners and Directors
in Joint Regulation of the Board of Commissioners and
Directors No. 05/KEP/DK/2022 and PD.620.00/r.01/HK200/
COP-M4000000/2022 regarding Guidelines for the Work
Procedures of the Board of Commissioners and Directors
(Board Manual) Limited Liability Company (Persero) PT
Telekomunikasi Indonesia, Tbk. In the charter, there is a
work order that regulates the responsibilities, obligations,
and division of tasks of the Board of Commissioners. In
addition, this Charter also stipulates provisions regarding
meetings, conflicts of interest, share ownership, as well
as the relationship between the Board of Commissioners
and the Board of Directors and the GMS. The duties
and responsibilities of members of the Board of
Commissioners are also regulated in the Company’s
Articles of Association.
BOARD OF COMMISSIONERS’
AUTHORITIES, DUTIES, AND
RESPONSIBILITIES
Telkom’s Articles of Association stipulates the Board of
Commissioners’ obligations to:
1. Provide advice to the Board of Directors in performing
the Company’s management;
2. Provide opinion and give approval over the Annual
Work Plan and Budget of the Company as well as other
work plans which have been prepared by the Board
of Directors, in accordance with the provisions of the
Articles of Association and the prevailing laws and
regulations;
3. Keep up with Company’s activities progress, provide
opinions and advice to the GMS regarding every issue
considered important for the Company’s management;
4. Report to Series A Dwiwarna shareholder if there is any
indication of decreasing performance of the Company;
162
5. Propose to the GMS for the appointment of Public
Accountant who will perform the audit over the
Company’s book;
6. Review and analyze the periodic reports and the
Annual Report prepared by the Board of Directors as
well as execute the Annual Report;
7. Provide explanation, opinion, and advice to the GMS
regarding the Annual Report, if requested;
8. Draw up the minutes of the meeting of the Board of
Commissioners and keep their copies;
9. Report to the Company with regard to their and/
or their families share ownership in the Company
aforesaid and in other companies;
10. Provide report regarding the supervisory duties, which
have been performed during the recently passed
Financial Year to the GMS;
11. Provide explanation regarding any matters inquired
about or requested by Series A Dwiwarna shareholder
with due observance of the statutory regulations,
particularly those prevailing in the Capital Market
sector;
12. Perform other obligations
framework of
supervisory duties and advice provision, to the extent,
it does not contradict the statutory regulations, the
Articles of Association and/or the resolutions of the GMS.
in the
The authority of the Board of Commissioners is as follows:
1. Examine books, letters, as well as other documents,
examine cash position
for verification purposes
and other securities and examine the assets of the
Company;
2. Enter the yards, buildings, and offices used by the
Company;
3. Ask explanation from the Board of Directors and/
or other officials regarding any issues regarding the
Company’s management;
4. Be informed of any policies and actions, which have
been and which will be taken by the Board of Directors;
5. Ask the Board of Directors and/or other officials under
the level of the Board of Directors, with the knowledge
of the Board of Directors, to attend the meeting of
the Board of Commissioners, while requests for or
support for activities other than meetings will be
carried out with due observance of professionalism,
ethics, interests of the Company and the organs of the
Company;
6. Appoint and dismiss a secretary of the Board of
Commissioners;
7. Suspend the members of the Board of Directors in
accordance with the provisions of this Articles of
Association of the Company;
8. Form the Audit Committee, the Remuneration
and Nomination Committee, the Risk Monitoring
if considered
Committee, and other committees,
necessary, with due observance of the capability of the
company;
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE 9. Utilize experts for certain matters and within a certain
period on the account of the Company, if considered
necessary;
10. Perform the management actions over the Company
in certain conditions for a certain period under the
provisions of this Articles of Association;
11. Approve the appointment and dismissal of the
Corporate Secretary and/or the Head of Internal
Supervisory Unit;
12. Examine and review the Annual Report prepared by
the Board of Directors and sign the Annual Report;
13. Attend the meeting of the Board of Directors and give
viewpoint towards the matters being discussed;
14. Perform other supervisory authorities long as it does not
contradict with the statutory regulations, the Articles of
Association and/or the resolutions of the GMS;
15. In order to carry out their supervisory function,
members of the Board of Commissioners at agreed
working hours or other times, jointly or individually,
with or without prior notification to the Board of
Directors, by taking into account professionalism, the
interests of the Company, the public and organs, have
rights access but not limited to buildings and locations
from or other places that are used to be controlled by
the Company’s subsidiaries and have rights to check
books, documents, reports, and inventory of goods,
and check cash positions (for verification purposes)
and other guarantees and to find out all actions taken
by the Directors of the subsidiary which are based on
the principle of disclosure of information by taking
into account the confidentiality of the Company, and
can provide advice to subsidiaries regarding policies/
actions that have been decided or will be taken by the
Directors of the subsidiaries either requested or not.
In the event of a company loss, members of the Board
of Commissioners have a collective responsibility for
mistakes or omissions in carrying out their duties, unless
proven:
1. Such loss is not caused by their mistake or negligence;
2. They have performed in good faith, full responsibility,
and prudentially for the interest and based on the
purpose and objective of the Company;
3. They do not have any conflict of interest either directly
or indirectly with the management activities causing
the loss; and
4. They have taken the action to prevent the occurrence
or continuation of such loss.
TERM OF SERVICE OF
MEMBERS OF THE BOARD
OF COMMISSIONERS
Members of the Board of Commissioners have 5 years
term of office without reducing the authority of the GMS
to dismiss members at any time. The GMS has the right
to reappoint members of the Board of Commissioners for
the next 1 term after their term of office ends.
MECHANISM OF RESIGNATION
AND DISMISSAL OF THE
BOARD OF COMMISSIONERS
Based on the Minister of SOE Regulation Number:
PER-02/MBU/02/2015
the Regulation of
regarding
the Minister of State-Owned Enterprises regarding
Requirements and Procedures for Appointment and
Dismissal of Members of the Board of Commissioners
and Supervisory Board of State-Owned Enterprises, as
well as amendments to the Minister of SOE Regulation
Number: PER- 10/MBU/10/2020, members of the Board
of Commissioners may resign and/or be dismissed at
any time before their term of office ends for various
reasons. Members of the Board of Commissioners may
be dismissed by the Minister of SOE or the GMS for
other reasons for the interests and objectives of the SOE
and/or the Company.
BASIS OF APPOINTMENT
OF THE BOARD OF
COMMISSIONERS
The mechanism for selecting and appointing members
of Telkom’s Board of Commissioners is carried out
through the GMS. In addition, the appointment of
Telkom’s Board of Commissioners is based on the
Minister of SOE Regulation Number PER-02/MBU/02/2015
regarding the Regulation of the Minister of State-Owned
Enterprises regarding Requirements and Procedures for
Appointment and Dismissal of Members of the Board of
Commissioners and Supervisory Board of State-Owned
Enterprises, as well as amendments to the regulations.
Minister of SOE Number: PER-10/MBU/10/2020. The
appointment or selection of the Board of Commissioners
takes
into account the competence and expertise,
integrity and background required by the Company.
163
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk ORIENTATION PROGRAM FOR NEW MEMBERS
OF THE BOARD OF COMMISSIONERS
Each new member of the Board of Commissioners must attend an orientation to understand Telkom’s activities and
conditions. This orientation program is coordinated by the Corporate Secretary, in accordance with the Regulation
of the Minister of SOEs No. PER-01/MBU/2011. In 2022, there are no orientation program for members of the Board of
Commissioners because in 2022 there are no change in members of the Board of Commissioners.
EDUCATION, TRAINING, SEMINAR, AND CONGRESS
Every year, Telkom provides opportunities for members of the Board of Commissioners to attend various educations,
trainings, seminars, and other similar activities. The goal is that members of the Board of Commissioners can develop
their knowledge and expertise.
The following table presents information related to education and/or training that members of the Board of
Commissioners have attended during 2022.
EDUCATION, TRAINING, SEMINAR, AND CONGRESS OF MEMBERS OF THE BOARD
OF COMMISSIONERS OF TELkOM IN 2022
No
Program
Organizer
Location
Date
Commisioners
Telkom
Online
January 5, 2022
Ismail
1.
2.
3.
4.
5.
6.
7.
8.
9.
Dubai Expo Panelist "Satu
Data Vaksin"
Early Years Briefing at
AdMedika
Tech for Good Institute (TFGI)
Inaugural Dialogue Indonesia
Leaders Offsite Meeting
The 1st National Conference
"Leveraging the Roles of Audit
Committee"
AdMedika
Jakarta
Grab Indonesia
Jakarta
CTO Ministry of
Finance
Bali
IKAI
Online
Indonesia Fiscal Reform
Development Policy Loan
IMF
Online
Startup Glory "Sharing Session" Telkom
Financing for the Sustainable
Development Goals
IAI Italy
Webinar Tel-U "Connectivity
Improvement on The Rural
Urban Area"
TIP & Telkom
University
Denpasar,
Bali
Online
Online
January 10,
2022
January 13,
2022
January 13,
2022
January 26-27,
2022
January 27,
2022
January 28,
2022
February 1,
2022
February 2,
2022
Marcelino R Pandin
Bambang PS
Brodjonegoro
Isa Rachmatarwata
1. Bambang PS
Brodjonegoro
2. Bono Daru Adji
3. Wawan Iriawan
4. Abdi Negara Nurdin
Isa Rachmatarwata
Marcelino R Pandin
Bambang PS
Brodjonegoro
Ismail
10.
Webinar "Road to Indonesia 5G
Security Readiness"
Cloud Computing
Indonesia & Huawei
Online
February 7,
2022
Ismail
164
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
11.
12.
13.
14.
15.
16.
17.
18.
19.
Program
Organizer
Location
Date
Commisioners
Sultra TV Talkshow "Roadmap
for Implementation
of Indonesia's Digital
Transformation"
Sultra TV
Online
February 8,
2022
Ismail
Webinar Tel U
APTIKOM
Bandung
March 23, 2022
Ismail
BUMN Goes To Campus
Ministry of Finance
Online
Speaker Invitation to IoT Asia+:
Indonesia Roadshow
IoT Asia+
Online
Data-Driven Series: Data
Revolution in Indonesia's
Public Sector
Press Conference "Preparation
for the Implementation of the
First Phase of ASO"
Mobile World Congress (MWC)
"Develop Open Technology
and Metaverse Ecosystem in
Indonesia"
Meeting of the OPEC Fund for
International Development
Forbes Digital Assets & Web3
Summit
Algoritma in
partnership with
KPK and LPS
PPI Ministry of
Communication
and Information
Technology
Ministry of
Communication
and Information
Technology, Meta
Connectivity & TIP
OPEC Fund for
International
Development
February 24,
2022
February 24,
2022
February 24,
2022
Isa Rachmatarwata
Ismail
Ismail
February 25,
2022
Ismail
Online
Jakarta
Barcelona,
Spain
March 8, 2022
Ismail
Online
March 16, 2022
Isa Rachmatarwata
Forbes
Online
March 16, 2022 Marcelino R Pandin
20. Webinar "Apakah Tarif Internet
Menjadi hambatan Utama
Terwujudnya Indonesia
Terkoneksi?”
PPI Ministry of
Communication
and Information
Technology
Online
March 17, 2022
Ismail
Ministry of SOE
Online
March 17, 2022 Bono Daru Adji
21.
22.
Onboarding Commissioner
Program Batch 4 of 2022
Ministry of SOE Leadership
Forum
Ministry of SOE
Nusa Dua,
Bali
March 19, 2022
23. Workshop Telkom Corporate
Telkom
Jakarta
March 23, 2022
Organization Post-5 Bold
Moves
1. Marcelino R Pandin
2. Bono Daru Adji
3. Wawan Iriawan
4. Abdi Negara Nurdin
1. Bambang PS
Brodjonegoro
2. Arya M Sinulingga
3. Isa Rachmatarwata
4. Marcelino R Pandin
5. Ismail
6. Rizal Mallarangeng
7. Bono Daru Adji
8. Wawan Iriawan
9. Abdi Negara Nurdin
165
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No
Program
Organizer
Location
Date
Commisioners
24. Workshop National Resilience
Institute
National Resilience
Institute
Jakarta
March 24, 2022 Marcelino R Pandin
25.
Global Solution Summit
Global Solution
Initiative
Berlin
March 27-31,
2022
Bambang PS
Brodjonegoro
26.
27.
28.
29.
30.
31.
Student Communication
Forum - TRISAKTI
Socialization of the Law on
Central and Regional Financial
Relations
Keynote Speech ABDI
International Web summit:
Cyber Security to Prevent
Future Cyber Warfare
Gathering Pelindo Digital
Squad
The 5th Conference on Web3,
Blockchain & Crypto
World Bank Indonesia
Partnership: Advisory
Committee Meeting on
Accelerating Human Capital
Development
32.
Opening Ceremony Upgrade
3G ke 4G at TSO Gatsu
33.
G20 Talk
Press Conference for Internet
of Things (IoT) Creation 2022
program "Recover Stronger,
Collaboration Beyond Borders"
Trisakti University
DKI Jakarta
March 27, 2022 Arya M Sinulingga
Ministry of Finance
Bandung
March 29, 2022
Isa Rachmatarwata
El Jhon: ABDI
(Asosiasi Big Data
& AI)
Online
March 30, 2022
Ismail
Pelindo
Bogor
March 31, 2022 Arya M Sinulingga
MC-SQUARE Leuven Online
March 31, 2022 Marcelino R Pandin
World Bank
Online
April 6, 2022
Isa Rachmatarwata
Telkomsel
Jakarta
April 6, 2022
Ismail
Online
April 8, 2022
Bambang PS
Brodjonegoro
Online
April 12, 2022
Ismail
Oxford Society
Indonesia
Ministry of
Communication
and Information
Technology
& Asosiasi IoT
Indonesia (Asioti)
National Association of
Broadcasters (NAB) Show
NAB
Las Vegas,
USA
April 20-27,
2022
1. Abdi Negara Nurdin
2. Marcelino R Pandin
Sharing Session Update about
Capital Market
Telkom
Online
April 22, 2022
1. Bambang PS
Brodjonegoro
2. Arya M Sinulingga
3. Isa Rachmatarwata
4. Marcelino R Pandin
5. Ismail
6. Rizal Mallarangeng
7. Bono Daru Adji
8. Wawan Iriawan
9. Abdi Negara Nurdin
Global Spectrum
Series
Bangkok dan
Online
April 26, 2022
Ismail
APAC Spectrum Conference -
Session 2: Balancing priorities
– Delivering a Spectrum
Strategy to Meet The Varied
Connectivity Requirements of
the APAC Region
34.
35.
36.
37.
166
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
38.
39.
40.
Program
Organizer
Location
Date
Commisioners
Lead by Example
IFG
Global Meeting of the
Emerging Markets Forum
Global Emerging
Market
Online
Paris
April 27, 2022
Arya M Sinulingga
May 15-18, 2022 Bambang PS
Brodjonegoro
TowerXchange Meetup Europe
2022
The Euromoney
Institutional Investor
PLC group
London,
Inggris
May 15-19, 2022
1. Rizal Mallarangeng
2. Bono Daru Adji
3. Wawan Iriawan
41.
T7 Summit
T7
Berlin,
Jerman
May 23-25,
2022
ISEI - UNSRAT
Online
May 31, 2022
Bambang PS
Brodjonegoro
Bambang PS
Brodjonegoro
42.
The Impact of IKN on the
Regional Economy and
Banking Sector of North
Sulawesi
43.
Panelists on ITU - WSIS
ITU, UNESCO, UNDP
and UNCTAD
Jenewa and
Online
June 1, 2022
Ismail
44.
Talk Show Streaming through
Youtube
Heartline Networks Online
June 3, 2022
Marcelino R Pandin
45. Workshop Political Parties
in Local Governance and
Development
Penang Institute &
Konrad Adenauer
Shifting
Penang,
Malaysia
June 6-7, 2022 Marcelino R Pandin
46.
47.
48.
49.
50.
Musrebang Polri 2023
Indonesian Police
Jakarta
June 14, 2022
Isa Rachmatarwata
BPKP
Online
June 14, 2022
Bono Daru Adji
ANU - Indonesia
project
Canberra/
Australia
June 15, 2022
Bambang PS
Brodjonegoro
PWC
Online
June 15, 2022
Bambang PS
Brodjonegoro
SDPPI
Lombok, NTB June 16, 2022
Ismail
Rakornas Pengawasan Intern
Pemerintah Tahun 2022
Prospect for Australia -
Indonesia Trade Investment
Partnership
Navigating Post-pandemic
Opportunities: Indonesian M&A
Outlook and Insights
Public Lecture About Wisely
Utilizing Telecommunications
Devices in Islamic Boarding
Schools to Support Digital
Transformation
51.
Digital Banking Trends and
Innovations
52.
Meeting of OFID 2022
Association of
Capital Market Legal
Consultants
OPEC Fund for
International
Development
Online
June 16, 2022
Bono Daru Adji
Vienna
June 20, 2022
Isa Rachmatarwata
53.
54.
National Team Alert Call II to
control the frequency onboard
the KRI Banda Aceh TNI AL at
the Tanjung Priok Kolinlamil
Global Pathways to a Hydrogen
Energy Futures (GPHEF)
Conference
SDPPI and TNI AL
Jakarta
June 21, 2022
Ismail
Institute on Sci-ence
for Global Policy
Online
June 23, 2022
Bambang PS
Brodjonegoro
167
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No
55.
Program
Organizer
Location
Date
Commisioners
Indonesia 5G & Digital
Connectivity Workshop by
UST-DA
USTDA’s contrac-tor
& BCIU
Jakarta
June 29, 2022
Ismail
56.
Asian Impact Leader Net-work
AVPN - The
Rockefeller
Foundation
Bellagio
July 4-8, 2022
Bambang PS
Brodjonegoro
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
67.
68.
Focus Group Discussion
Implementation Multiple
Voting Shares in Indonesia
Indonesia
Corporate Secretary
Association
Jakarta
July 5, 2022
Bono Daru Adji
FGD Impact of the Increase
in World Oil Prices on the
National Energy Supply and
the burden on the State
Budget
Keynote Speech inauguration
of TelkomGroup membership
in TIP (Telecom Infra Project)
BPK RI
Online
July 6, 2022
Isa Rachmatarwata
Telkom
Bandung
July 11, 2022
Ismail
Next Gen Fest 2022
Berita Satu
Online
July 14, 2022
Arya M Sinulingga
Speech Education of Publik
Communication
Keterbukaan
Informasi Publik
(KIP)
DKI Jakarta
July 19, 2022
Arya M Sinulingga
Engaging Your Team and Be A
Great Leader
Update on the Implementation
of PaDi UMKM
Speaker GSMA Mobile 360 Asia
Pacific Conference and Policy
Leaders Forum "Digital Policies
& New Business Models for a
Digital Future”
Speaker at the Digital
Transformation Indonesia
Conference and Exhibition
(DTICX) conference
PPM-Management Online
July 22, 2022
Arya M Sinulingga
Ministry of SOE
Online
August 1, 2022 Bono Daru Adji
Mobile 360 Asia
Pacific
Singapore
August 3, 2022
Ismail
Jakarta
August 4, 2022
Ismail
APTIKNAS (Asosiasi
Pengusaha
Teknologi Informasi
dan Komunikasi
(TIK) Nasional)
Resource Person for the Press
Conference "Adjustment to
the Schedule for the Stages of
Switching Off Analog TV"
PPI Ministry Of
Communication
And Information
Technology
Online
August 6, 2022
Ismail
Policy Talk Side Event B20:
Group Discussion on Digital
Economy
Transforming the Economy
towards a Resilient and
Sustainable Economic Growth
Kemenkop - B20
KADIN
Bali
August 8, 2022 Bambang PS
Brodjonegoro
BAPPENAS
Bali
August 8, 2022 Bambang PS
Brodjonegoro
69. Webinar Indonesia Economic
Indofood
Online
Outlook 2023
August 8, 2022 Bambang PS
Brodjonegoro
168
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
Program
Organizer
Location
Date
Commisioners
70.
Philantrophy festival
71.
Kick Off E-Monev 2022 KIP
Philantrophy
Indonesia
Keterbukaan
Informasi Publik
(KIP)
Online
August 9, 2022 Bambang PS
Brodjonegoro
Online
August 10, 2022 Arya M Sinulingga
72.
GRC Masterclass
Ministry of SOE
Online
October 14,
2022
Ismail
Event Metro TV
Metro TV
Online
August 16, 2022
Isa Rachmatarwata
Communication Summit BSI
(Bank Syariah Indonesia)
Bank Syariah
Indonesia
DKI Jakarta
August 18, 2022 Arya M Sinulingga
Ministry of
Communication
and Information
Technology
Keterbukaan
Informasi Publik
(KIP)
Jakarta
August 19, 2022
Ismail
DKI Jakarta
August 23,
2022
Arya M Sinulingga
73.
74.
75.
79.
80.
81.
Talkshow Speaker “Dukung Era
Baru TV Digital: Jabodetabek
Siap ASO"
76. Workshop Monev 2022 KIP
77.
Discussion of the 2023 State
Budget Bill
78.
Trade Policy Advisory Group
Telkom University Scientific
Oration
Green Data Center Book
Launch
DPD Secretariat
Online
Badan Kebijakan -
Kemendag
Jakarta
Telkom University
Bandung
IDPRO - MAASKEI
Jakarta
Advancing the Global Circular
Carbon Economy
KAPSACR
82.
T20 Summit
LPEM - CSIS
Bali
Bali
83.
Fuel Subsidy Budget Transfer
TVRI
Online
84.
85.
Pasundan Discussion Volume
XIII
BULOG Public Relations
Workshop
GEMA PASUNDAN
Online
BULOG
DKI Jakarta
86.
Young Leaders BUMN
BNI
DKI Jakarta
August 24,
2022
August 25,
2022
August 27,
2022
August 30,
2022
Bambang PS
Brodjonegoro
Bambang PS
Brodjonegoro
Bambang PS
Brodjonegoro
Bambang PS
Brodjonegoro
September 2,
2022
Bambang PS
Brodjonegoro
5-7 September
2022
Bambang PS
Brodjonegoro
September 5,
2022
September 10,
2022
September 15,
2022
September 16,
2022
Isa Rachmatarwata
Arya M Sinulingga
Arya M Sinulingga
Arya M Sinulingga
87.
G20 Global Financial Stability
Ministry of Economy
and Finance
Seoul / South
Korea
September 21-
23, 2022
Bambang PS
Brodjonegoro
88.
Bali Annual
Telecommunication
International Conference
(BATIC) 2022
TELIN
Bali
September 21-
23, 2022
1. Marcelino R Pandin
2. Wawan Iriawan
3. Abdi Negara Nurdin
89.
The 9th Annual XCION
Workshop
XCION Indonesia –
ICION
Bali
September 22,
2022
Marcelino R Pandin
169
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No
Program
Organizer
Location
Date
Commisioners
90.
BUMN Legal Summit 2022
Ministry of SOE
Bali
91.
Game Developer Gathering &
Mini Game Exhibition
Indigo Telkom
Bali
92. Workshop Internal Audit
Telkom
Yogyakarta
93.
Sharing Session Digitalization
of GKBI
94.
IT Leaders Festival 2022
Telkom
Yogyakarta
Computing/The
Channel Company
London, UK
September 22-
23, 2022
Bono Daru Adji
Wawan Iriawan
September 24,
2022
September 29-
30, 2022
September 29,
2022
October 4,
2022
Marcelino R Pandin
Bono Daru Adji
Wawan Iriawan
Wawan Iriawan
Marcelino R Pandin
95.
96.
97.
Special Event Toward the
G20 Summit: Infrastructure
Development Through
Innovative Financing
IPv6 switch ON "Boosting
Indonesian Digital Economy
Development"
Updates regarding Startup
with Venture Capital in Silicon
Valley
Task Force 8 - T20
Indonesia - Delloitte
Washington
DC
October 10-11,
2022
Bambang PS
Brodjonegoro
Jakarta
October 10,
2022
Ismail
PPI Ministry Of
Communication
And Information
Technology - IPv6
Summit Alignment
Telkom
United States October 12-15,
98.
GRC Masterclass
Ministry of SOE
Online
2022
October 14,
2022
Bambang PS
Brodjonegoro
1. Bambang PS
Brodjonegoro
2. Arya M Sinulingga
3. Isa Rachmatarwata
4. Marcelino R Pandin
5. Ismail
6. Rizal Mallarangeng
7. Bono Daru Adji
8. Wawan Iriawan
9. Abdi Negara Nurdin
99.
International Alumni Awards
Celebration
University of
Illi-nois - Urbana
Champaign
100.
Tech Crunch Event 2022
Tech Crunch
BUMN Goes to Campus Institut
Teknologi PLN
PLN
Meta
Jakarta
"Connectivity for the Future of
Metaverse Indonesia" at the
Digital Experts Talk CfDS x
Meta"Future Rural Broadband
Connectivity, Disaster Recovery,
Remote Sensing and
Geo-Localization:
Illnois, USA
October 17-18,
2022
Bambang PS
Brodjonegoro
San
Fransisco,
USA
DKI Jakarta
October 18-22,
2022
1. Marcelino R Pandin
2. Abdi Negara Nurdin
October 24,
2022
October 25,
2022
Arya M Sinulingga
Ismail
101.
102.
170
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
103.
Program
Organizer
Location
Date
Commisioners
Opportunities and Challenges
on Technologies, Applications
and Regulation” International
Seminar 2022
HAPS (High Attitude
Platform Station)
Jakarta
October 26,
2022
Ismail
104.
Taping Video Opening at the
Policy Roundtable Session at
the 2022 Fyuz Event
Fyuz
Madrid, Spain October 26,
Ismail
105.
The Indonesian Summit 2022
Bank Danamon
Jakarta
2022
October 27,
2022
October 29,
2022
November 1,
2022
Bambang PS
Brodjonegoro
Arya M Sinulingga
Ismail
Kubik Empowering Leadres
Forum
Government Keynote
Address "Driving Digitalization
Ecosystems in ASEAN" at the
AIBP Conference & Exhibition
Kubik Leadership
Online
AIBP
Jakarta
Public lecture on Indonesian
economy
University of
Indonesia
Paramadina
University
Depok
Jakarta
November 2,
2022
Bambang PS
Brodjonegoro
November 2,
2022
Bambang PS
Brodjonegoro
PTC
DKI Jakarta
November 4,
2022
Arya M Sinulingga
106.
107.
108.
109.
110.
Global Economy: Reflections
and challenges from G20
Presidency
Optimizing The Future
Role of Corporate Secretary
“Challenges, Issues &
Opportunities"
Communication
112. Working visit and technical
cooperation with the South
Korean Ministry of Science and
ICT
111. Workshop PLN
PLN
DKI Jakarta
November 7,
2022
Arya M Sinulingga
Ministry of Science
and ICT South Korea
South Korea
November 7-10,
2022
Ismail
113.
114.
Bloomberg CEO Forum: New
Capital City
LPS
AVPN Community Engage-
ment
AVPN
115.
B20 summit
B20 - KADIN
116.
B20 Indonesia 2022
KADIN
Bali
Bali
Bali
Bali
November
12,022
Bambang PS
Brodjonegoro
November 12,
2022
Bambang PS
Brodjonegoro
November 13-
14, 2022
Bambang PS
Brodjonegoro
November 13-
14, 2022
1. Arya M Sinulingga
2. Marcelino R Pandin
117.
118.
119.
Kawan Lama Group Summit
2022
Public lecture Telkom Uni-
versity
“Developing Happy Digital
Ecosystem by Aligning In-
dustry, Government, and
Education” at the Tri Hita
Karana Forum 2022
Kawan lama Group
Jakarta
November 16,
2022
Bambang PS
Brodjonegoro
Telkom University
Bandung -
online
Novevmber 17,
2022
Bambang PS
Brodjonegoro
Nusa Dua,
Bali
November 17,
2022
Ismail
Ministry Of
Communication
and Information
Technology and
HDX
171
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No
Program
Organizer
Location
Date
Commisioners
120.
GRC Masterclass
Ministry of SOE
Online
November 17,
2022
121.
GRC Masterclass
Ministry of SOE
Online
December 8,
2022
1. Bambang PS
Brodjonegoro
2. Arya M Sinulingga
3. Isa Rachmatarwata
4. Marcelino R Pandin
5. Ismail
6. Rizal Mallarangeng
7. Bono Daru Adji
8. Wawan Iriawan
9. Abdi Negara Nurdin
1. Bambang PS
Brodjonegoro
2. Arya M Sinulingga
3. Isa Rachmatarwata
4. Marcelino R Pandin
5. Ismail
6. Rizal Mallarangeng
7. Bono Daru Adji
8. Wawan Iriawan
9. Abdi Negara Nurdin
Annual Meeting of PT. Circleka
Indonesia Utama
PT Circleka Utama
Indonesia
Gading
Serpong
December 13,
2022
Bambang PS
Brodjonegoro
122.
123.
December 22,
2022
Bambang PS
Brodjonegoro
December 27,
2022
Bambang PS
Brodjonegoro
Background Study Meeting of
RPJPN
BAPPENAS
Jakarta
124.
FGD Region Development
BAPPENAS
Jakarta
172
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE BOARD OF COMMISSIONERS’ DIVERSITY
The diversity policy for members of the Board of Commissioners takes into account the implementation of GCG
principles and Law no. 39 of 1999 regarding Human Rights in the mechanism. Candidates for members of the Board
of Commissioners are determined by fulfilling the aspects of diversity, non-discrimination, human rights, and the
principle of fairness. The appointment or election of the Board of Commissioners takes into account the competence
and expertise, integrity, and background required by the Company.
BOARD OF COMMISSIONERS’ DIvERSITy AS OF DECEMBER 31, 2022
Name
Position
Gender
Background of
Expertise & Skill
Level of
Education
Male
Economics and Planology Doctoral
Bambang Permadi Soemantri
Brodjonegoro
Wawan Iriawan
Bono Daru Adji
Abdi Negara Nurdin
President
Commissioner/
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Marcelino Rumambo Pandin
Commissioner
Male
6.
Ismail
Commissioner
Male
No.
1.
2.
3.
4.
5.
7.
8.
9.
Male
Law
Male
Law
Male
Economy, Content and
Digital
Architect, Business
Management and
Technology
Electrical Engineering
and Telecommunications
Engineering
Public Communication
and Political
Doctoral
Master
Bachelor
Doctoral
Doctoral
Doctoral
Master
Bachelor
Rizal Mallarangeng
Commissioner
Male
Isa Rachmatarwata
Commissioner
Arya Mahendra Sinulingga
Commissioner
Male
Male
Mathematics
Civil Engineering
Composiiton Diversity of Board of Comissioners’s
Position
Composition Diversity of Board of Comissioners’s
Education Level
Independent
44%
Doctoral
56%
Master
22%
Non Independent
56%
to Bachelor
22%
173
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk BOARD OF COMMISSIONERS’ DOUBLE POSITION
In order to apply the principle of transparency, Telkom discloses information on the concurrent positions of the Board
of Commissioners as of December 31, 2022 in the table below:
BOARD OF COMMISSIONERS’ DOUBLE POSITION AS OF DECEMBER 31, 2022
Telkom
No.
Name
Posotion
1.
Bambang
Permadi
Soematri
Brodjonegoro
President
Commissioner/
Independent
Commissioner
Other
Position
Audit
Committee,
KEMPR
2.
Wawan Iriawan
3.
Bono Daru Adji
Independent
Commissioner
Independent
Commissioner
4.
Abdi Negara
Nurdin
Independent
Commissioner
Audit
Committee,
KNR
Audit
Committee,
KEMPR
Audit
Committee,
KNR
Subsidiary
Other Entities
None
1.
2.
3.
4.
5.
6.
7.
8.
Commissioner of PT Bukalapak, Tbk
Independent Commissioner of PT Astra
International, Tbk
Independent Commissioner of PT TBS Energi
Utama, Tbk
Commissioner of PT Combiphar
President Commissioner of PT Oligo
Infrastruktur
Independent Commissioner of PT Indofood, Tbk
President Commissioner of PT Nusantara
Green Energy
President Commissioner of PT Prudential
Syariah
None
None
None
Managing Partner, Assegaf Hamzah & Partners
None
1.
2.
3.
4.
5.
6.
Commissioner of PT Nagara Sains Ekosistem
Commissioner of PT Sugih Reksa Indotama
Co-Founder of Producer Give.ID
Commissioner of PT NSA
Founder of Maleo Music
Co-Founder and Commissioner of PT Hijau
Multi Kreatif
5.
Marcelino
Rumambo
Pandin
Commissioner
KNR
None
None
6.
Ismail
Commissioner
KNR,
KEMPR
KNR,
KEMPR
None
General Director of Resources and Equipment
of Post and Information Technology, Ministry of
Communication and Information
None
Commissioner of PT Energi Mega Persada
Commissioner
Commissioner
KEMPR
None
General Director of Budget, Ministry of Finance
Commissioner
KNR,
KEMPR
None
1.
2.
3.
Member of the Board of Trus-tees of Universitas
Sumatera Utara
Special Staff III to the Minister of State-Owned
Enterprises (SOE)
General Secretary of Institut Teknologi
Bandung Alumni Asso-ciation
7.
8.
9.
Rizal
Mallarangeng
Isa
Rachmatarwata
Arya Mahendra
Sinulingga
174
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE BOARD OF COMMISSIONERS’
SELF ASSESSMENT POLICY
Telkom’s Board of Commissioners has a self-assessment
policy to assess the performance of the Board of
Commissioners, in accordance with the Joint Regulation
of the Board of Commissioners and Directors No. 05/KEP/
DK/2022 and PD.620.00/r.01/HK200/ COP-M4000000/2022
regarding Guidelines
for the Work Procedures of
the Board of Commissioners and Directors (Board
Manual) of the Company (Persero) PT Telekomunikasi
Indonesia, Tbk. Self-assessment is carried out by each
member of the Board of Commissioners to assess the
performance of the Board of Commissioners collegially,
which means that it is not an individual performance
assessment. This policy is a guideline used as a form of
accountability for the performance appraisal of the Board
of Commissioners. With this policy, each member of the
Board of Commissioners is expected to contribute to
improving their performance on an ongoing basis.
INDEPENDENT COMMISSIONER
As of December 31, 2022, Telkom has a total of 9
Commissioners and 4 of them are
Independent
Commissioners. This amount exceeds the provisions
of the Financial Services Authority Regulation No. 33/
POJK.04/2014 by 30%.
Criteria for determining Independent Commissioners
and appointment at the GMS refers to:
1. Regulation of the Minister of State-Owned Enterprises
No. PER-02/MBU/02/2015, as well as changes to
the Minister of SOE Regulation Number: PER-10/
MBU/10/2020, which includes Formal Requirements,
Material Requirements, and Other Requirements.
2. Financial Services Authority Regulation No. 33/
POJK.04/2014 regarding Directors and Board of
Commissioners of Issuers or Public Companies, as
follows:
a. Not a person who works or has the authority and
responsibility to plan, lead, control, or supervise the
activities of the Company in the past 6 (six) months,
except for the reappointment as an Independent
Commissioner in the following period.
b. Do not have Telkom shares either directly or indirectly.
c. Has no affiliation with Telkom, members of the
Board of Commissioners, members of the Board of
Directors, or main Shareholders of Telkom.
d. Has no direct or indirect business relationship
related to Telkom’s business activities.
INDEPENDENCE STATEMENT
Each member of the Board of Commissioners must carry
out their duties independently without any intervention
from other parties. In the composition of Telkom’s Board
of Commissioners, there are Independent Commissioners
whose requirements refer to the provisions applicable
in the Capital Market environment. In accordance with
Article 25 of the Financial Services Authority Regulation
No. 33/POJK.04/2014, Independent Commissioners who
have served for 2 terms of office (2 times for 5 years) may
be reappointed by declaring their independence to the
GMS and publicly disclosed in the Annual Report.
As of December 31, 2022, there is no Independent
Commissioner of Telkom who has complied with these
provisions. However, Telkom requires each Independent
Commissioner to continue to sign an Independence
Statement every year, as an effort to implement GCG.
BOARD OF COMMISSIONERS’
MEETING
In accordance with Telkom’s Board Manual and in
line with Financial Service Authority Regulation No.
33/POJK.04/2014, in particular Article 31, the Board of
Commissioners is required to hold a meeting at least
1 time in 1 month or at any time deemed necessary. In
addition, the Board of Commissioners is also required
to hold joint meetings with the Board of Directors at
least once every 3 months or at any time if necessary.
During 2022, the Board of Commissioners has held 27
internal meetings and 12 joint meetings with the Board
of Directors.
If more than half of the members of the Board of
Commissioners, the meeting is considered a quorum.
Decision making in the Board of Commissioners meeting
is carried out by prioritizing deliberation for consensus.
If consensus cannot be reached, then decision making
is based on the majority vote of the members of the
Board of Commissioners who are present or represented
at the meeting. In the event that the number of votes is
balanced, the decision taken is in accordance with the
opinion of the Chairperson of the meeting.
175
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk The table below shows the frequency of attendance of each member of the Board of Commissioners in internal
meetings and the frequency of attendance of each member of the Board of Commissioners and Board of Directors in
joint meetings during 2022.
BOARD OF COMMISSIONERS’ ATTENDANCE & AGENDA AT INTERNAL MEETINGS
No
1.
Date
Meeting’s Agenda
Monday, January 10, 2022
1. Proposed Contract Extension for Members and Secretariat Staff of the Board
of Commissioners at KEMPR;
2. Proposed Board of Commissioners Decision regarding the Appointment and
Remuneration System for the Board of Commissioners’ Organs;
3. Proposed Agenda for the Joint Meetings of the Board of Commissioners and
Directors for 2022.
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
2.
Monday, January 24, 2022
Determination of TelkomGroup Nominated Talent Proposals for 2022
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
3.
Wednesday, February 9, 2022
Discussion on B2B & B2C Business Translation to Support TELKOM’s Performance
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
4.
Friday, February 25, 2022
Extension of Contract Period for Secretariat Staff in the Audit Committee
Attendance List
BPSB
ANN
BDA
√
√
√
5.
Wednesday, March 16, 2022
Digital Talent Discussion
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
WI
√
AMS
√
AMS
√
IR
√
IR
√
IS
√
IS
√
MRP
RM
√
√
MRP
RM
√
√
6.
Thursday, April 14, 2022
1. Board of Commissioners Monitoring KPI 2022
2. Arrangements for Official Travel of the Company’s Management
Attendance List
BPSB
ANN
BDA
-
√
-
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
7.
Monday, April 18, 2022
1. Report of the Audit Committee on the Implementation of the 2021 Financial
Statement Audit by the Public Accounting Firm/EY Public Accountant
(KAP/AP EY)
2. Proposal for the Issuance of Corporate Bonds in 2022
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
-
8.
Tuesday, April 26, 2022
Management of Government Assignment Programs
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
-
IS
√
IS
√
MRP
RM
√
√
MRP
RM
√
√
9.
Monday, May 23, 2022
1. Discussion of the 2021 AGMS Agenda
2. Finalization of the Proposed Decision on the 2021 Bond Issuance Application
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
176
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
10.
Date
Monday, June 13, 2022
Meeting’s Agenda
Monitoring Telkomsel’s Investment in PT Application Karya Anak Bangsa
(AKAB/Gojek)
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
11.
Monday, June 30, 2022
Discussion on Strategic Fit Digico Telkom
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IR
√
IS
√
IS
√
MRP
RM
√
√
MRP
RM
√
√
12.
Monday, July 13, 2022
Discussion on Formation of SOE Digital Healthcare Ecosystem Initiative Legal
Entity (FitAja)
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
13.
Friday, July 22, 2022
Discussion of Requests for Approval for Changes in the Use of Phase-2 MDI500
Project Funds
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
-
IR
√
IS
√
MRP
RM
√
√
14.
Tuesday, August 23, 2022
Discussion on Proposed Changes to Pension Fund Regulations;
Others: Honorarium for Supporting Organs of the Board of Commissioners.
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
15.
Tuesday, August 25, 2022
1. Proposed Changes to the BPPU Directory EBIS KPI Dictionary, and Alignment
of the Board of Directors’ Work Values;
2. Discussion of CSS 2023-2025; Board Manual Discussion
Attendance List
BPSB
ANN
BDA
√
√
√
16.
Tuesday, September 6, 2022
Strategic Fit Digico Telkom
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
WI
√
AMS
√
AMS
√
17.
Thursday, September 8, 2022
Strategic Fit Fixed Mobile Convergence
Attendance List
BPSB
ANN
BDA
√
√
√
18.
Tuesday, September 13, 2022
Strategic Fit Project Sirius
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
WI
√
AMS
√
AMS
√
IR
√
IR
√
IR
√
IR
√
IS
√
IS
√
IS
√
IS
√
MRP
RM
√
√
MRP
RM
√
√
MRP
RM
√
√
MRP
RM
√
√
19
Friday, September 16, 2022
Strategic Fit Project Sirius: Follow-up Meeting on 13 September 2022
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
177
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No
20.
Date
Meeting’s Agenda
Tuesday, September 27, 2022
FMC, Infraco and Data Center Co. Project Deepening.
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
21.
Wednesday, October 26, 2022
Telkom Digital Business Development Ytd September 2022
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
22.
Monday, October 31, 2022
Discussion of Release Commitment Budget Capex Phase II 2022
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
23.
Friday, November 4, 2022
Discussion on the Batam Data Center Initiative’s Strategic Fit
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
√
√
24.
Wednesday, November 23, 2022 1. Discussion of the Board of Commissioners’ Work Program and Budget and
the Board of Commissioners’ Organs for 2023;
2. Discussion of the 2023 RKAP Study.
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
-
IR
√
IS
√
MRP
RM
√
√
25.
Monday, December 5, 2022
1. Discussion on Strategic Fit Project Infraco;
2. Others: proposed extension of Ms. FM Venusiana R. as Acting PLT Director of
Enterprise and Business Service.
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
26.
Wednesday, December 14, 2022 Discussion of Telkomsel’s investment in GoTo
Attendance List
BPSB
ANN
BDA
√
√
-
WI
√
AMS
√
IR
√
IR
√
IS
√
IS
√
MRP
RM
√
√
MRP
RM
√
√
27.
Monday, December 19, 2022
Discussion:
1. Application for Release Phase I of the Telkom Parent Capex Commitment
Budget and Withdrawal of Telkom Parent Loans in the 2023 RKAP;
2. Proposal to write off Receivables for the 2022 Financial Year
Attendance List
BPSB
ANN
BDA
√
√
√
WI
√
AMS
√
IR
√
IS
√
MRP
RM
-
√
Remark:
BPSB
Bambang Permadi Soemantri Brodjonegoro
AMS
Arya Mahendra Sinulingga
RM
Rizal Mallarangeng
ANN
Abdi Negara Nurdin
BDA
Bono Daru Adji
WI
Wawan Iriawan
IR
IS
Isa Rachmatarwata
Ismail
MRP
Marcelino Rumambo Pandin
178
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE BOARD OF COMMISSIONERS’ ATTENDANCE AT INTERNAL MEETINGS
Name
Position
Total Meetings
Total Attendance
Percentage of
Attendance %
Bambang Permadi
Soemantri Brodjonegoro
Abdi Negara Nurdin
Bono Daru Adji
Wawan Iriawan
President
Commissioner/
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Arya Mahendra Sinulingga
Commissioner
Isa Rachmatarwata
Commissioner
Ismail
Marcelino Rumambo
Pandin
Commissioner
Commissioner
Rizal Mallarangeng
Commissioner
27
27
27
27
27
27
27
27
27
26
27
25
27
25
25
27
26
27
96
100
93
100
93
93
100
96
100
No.
1.
2.
3.
4.
5.
6.
7.
8.
9.
BOARD OF DIRECTORS’ ATTENDANCE AND AGENDA AT JOINT MEETINGS
No
1.
Date
Friday, January 28,
2022
Attendance List of
BoC
December 2021 Ytd Performance and BOC Concern
Meeting’s Agenda
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
n/a
√
√
√
√
2.
Friday,
February 25, 2022
1. January 2022 Ytd Performance
2. BoC Concern
a. Routine: IndiHome Improvement, EBIS CFU Turn Around, Progress, and Settlement of
Uncollectible Accounts.
b. Addition:
1. Completion of Audit of Financial Statements for Financial Year 2021
2. Update on Telkom’s Competitive Position towards Local and Regional Competitors
and the Development of Competitor Initiatives in Winning the Competition
3. Digico progress and its relation to FU Digital
179
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
No
Date
Meeting’s Agenda
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS
Dir.
CONS
(FMvR)
Act.Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
n/a
√
√
√
√
3.
Friday,
March 2vv5, 2022
1. February 2022 Ytd Performance
2. BoC Concern
a. Routine: IndiHome Improvements, EBIS CFU Turn Around, Progress and Settlement of
Uncollectible Accounts TelkomGroup
b. Addition
1. Digico Progress and Alignment with Other Digital Initiatives
2. Risk Analysis of the Impact of the Russian-Ukrainian Crisis on Telkom’s Stock Prospects
and Performance in 2022
3. Settlement of TelkomGroup Legal/Litigation Cases Q4 2021 (Including PINS
Investigation Follow-up)
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
n/a
√
√
√
√
4.
Monday,
April 25, 2022
1. March 2022 Ytd Performance
2. BoC Concern
a. Routine: IndiHome Improvements, EBIS CFU Turn Around, Progress and Settlement of
Uncollectible Accounts TelkomGroup
b. Addition
1. Submission of the TelkomGroup Cost Leadership Update
2. Update on the Health Level of the Company’s Subsidiaries
3. Submission of the GMS Preparation Report
4. Submission of the RAFI Preparation Report – Eid al-Fitr 1443 H
5. Development of Top Talent and Telkom’s Talent System Support for BUMN Talent Pool
6. GoTo Progress Update: Report on Fulfillment of Telkomsel’s Investment Bisplan in
GoTo (FY 2021) and Achievement of GoTo-Telkomsel Synergy Bisplan.
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
n/a
√
√
√
√
180
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
5.
Date
Meeting’s Agenda
Thursday,
May 25, 2022
1. April 2022 Ytd Performance
2. BoC Concern
a. Routine: IndiHome Improvements, EBIS CFU Turn Around, Progress and Settlement of
Uncollectible Accounts TelkomGroup
b. Addition
1. Progress of Network Modernization and Development of 5G
2. B2B Digital Platform Progress; Big Data / Data Analytics, IoT, Cyber Security
TelkomGroup
3. Development of Data Center & Cloud
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
-
√
√
√
n/a
-
√
√
√
6.
Friday,
June 25, 2022
1. May 2022 Ytd Performance
2. BoC Concern
a. Routine: IndiHome Improvements, EBIS CFU Turn Around, Progress and Settlement of
Uncollectible Accounts TelkomGroup
b. Addition:
1. Update related to TelkomGroup Transformation; Telkom Regional and Digital Talent
Transformation
2. B2B Digital Platform Progress; B2C TelkomGroup and Data Center Co
3. Strategic Fit DigiCo
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
-
√
√
n/a
√
√
√
√
7.
Tuesday,
July 26, 2022
1. June 2022 Ytd Performance
2. BoC Concern
a. Routine: IndiHome Improvements, EBIS CFU Turn Around, Progress and Settlement of
Uncollectible Accounts TelkomGroup
b. Addendum: Completion of TelkomGroup Legal/Litigation Cases Q2/2022
3. Others: Response of the Board of Directors to the Concern of the Board of Commissioners
regarding the Establishment of FitAja Digital Nusantara (FDN)
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
-
√
√
√
n/a
√
√
√
181
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
No
8.
Date
Meeting’s Agenda
Wednesday,
August 31, 2022
1. May 2022 Ytd Performance
2. 2. BoC Concern
a. Routine: IndiHome Improvements, EBIS CFU Turn Around, Progress and Settlement of
Uncollectible Accounts TelkomGroup
b. Addendum: Manual Board Approval:
Submission of Proposals for Updating & Revision of the Board Manual for the 2022 Period
3. Others: Distribution of Audit Fees
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
-
-
n/a
√
√
√
9.
Wednesday,
September 28,
2022
1. August 2022 Ytd Performance
2. BoC Concern:
IndiHome Improvement, EBIS CFU Turn Around, Progress and Settlement of TelkomGroup
Uncollectible Accounts;
3. Update on the health level of the company’s subsidiaries;
4. CFU Enterprise Progress: development of market development initiatives for the private
sector (non MSOE/non Ministries/institutions).
Attendance List of
BoC
Attendance List of
BoD
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
√
n/a
√
√
√
10.
Friday,
October 28, 2022
1. September 2022 Ytd Performance
2. BoC Concern:
IndiHome Improvement, EBIS CFU Turn Around, Progress and Settlement of TelkomGroup
Uncollectible Accounts;
3. Strengthening the Second Line and Third Line Functions (Risk, Audit, Legal) and determining
the proposed indicators for the successful implementation of the Second Line and Third
Line functions.
4. Discussion of the First Draft RKAP 2023.
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
ConwS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
√
n/a
√
√
√
11.
Monday,
November 28, 2022
1. October 2022 Ytd Performance
2. BoC Concern: Improvement of IndiHome, Turn Around CFU EBIS, Progress and Settlement
of TelkomGroup Uncollectible Accounts;
3. Ratification of the 2023 RKAP:
a. 2023 RKAP Final Proposal;
b. The Impact of FMC and Infraco Strategic Initiatives on the 2023 RKAP.
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
182
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No
Date
Meeting’s Agenda
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
√
√
√
√
√
n/a
√
√
√
12.
Friday,
December 23, 2022
1. November 2022 Ytd Performance and BoC Concern: IndiHome Improvement, Turn Around
CFU EBIS, Progress and Settlement of TelkomGroup Uncollectible Accounts;
2. Brainstorming BoC-BoD:
a. Roadmap to Healthy Profitability of Telkom’s B2B Business
b. Telkom B2B Business: Special/independent entity vs. As an entity in Telkom
Attendance List of
BoC
BPSB
√
IS
√
MRP
RM
√
√
WI
√
AMS
BDA
√
√
IR
√
ANN
√
Attendance List of
BoD
President
Director
(RA)
Dir.
NITS
(HW)
Dir.
WINS
(BW)
Dir.
kMR
(HS)
Dir.
CONS
(FMvR)
Act. Dir.
EBIS
(FMvR)
Dir.
EBIS
(EW)
Dir.
HCM
(AF)
Dir.
SP
(BSW)
Dir.
DB
(MFR)
√
-
√
√
√
√
n/a
√
√
√
Remarks:
BPSB
Bambang Permadi Soemantri
BDA
Bono Daru Adji
EW
Edi Witjara
IS
MRP
RM
WI
Brodjonegoro
Ismail
Marcelino Rumambo Pandin
Rizal Mallarangeng
Wawan Iriawan
AMS
Arya Mahendra Sinulingga
IR
ANN
RA
HW
BW
Isa Rachmatarwata
HS
Heri Supriadi
Abdi Negara Nurdin
FMvR
FM Venusiana R.
Ririek Adriansyah
Herlan Wijanarko
Bogi Witjaksono
AF
BSW
MFR
Afriwandi
Budi Setyawan Wijaya
Muhamad Fajrin Rasyid
BOARD OF COMMISSIONERS’ ATTENDANCE AT JOINT MEETINGS
Name
Position
Total Meetings
Total
Attendances
Percentage of
Attendance %
Bambang Permadi
Soemantri Brodjonegoro
Abdi Negara Nurdin
Bono Daru Adji
Wawan Iriawan
President
Commissioner/
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Independent
Commissioner
Arya Mahendra Sinulingga
Commissioner
Ismail
Commissioner
Isa Rachmatarwata
Commissioner
Marcelino Rumambo
Pandin
Commissioner
Rizal Mallarangeng
Commissioner
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
100
100
100
100
100
100
100
100
100
No.
1.
2.
3.
4.
5.
6.
7.
8.
9.
183
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk BOARD OF DIRECTORS’ ATTENDANCE AT INTERNAL MEETINGS
No.
Name
Position
Total of Meetings
Total of
Attendance
Percentage of
Attendance %
1.
2.
3.
4.
5.
6.
7.
8.
9.
Ririek Adriansyah
President Director
Afriwandi
Director of HCM
Budi Setyawan Wijaya
Director of SP
Bogi Witjaksono
Director of WINS
Edi Witjara
Director of EBIS1
FM Venusiana R
Acting Director of
EBIS1
FM Venusiana R
Director of CONS
Herlan Wijanarko
Director of NITS
Heri Supriadi
Director of FRM
10.
Muhamad Fajrin Rasyid
Director of DB
Remark:
1. Has been out of position since July 8, 2022
12
12
12
12
5
7
12
12
12
12
12
12
12
10
4
6
11
10
12
12
100
100
100
83
80
86
92
83
100
100
The position of Director of EBIS is filled by appointing Ms. FM Venusiana R as Acting Director of EBIS in addition to her position as Director
of Consumer Service
BOARD OF COMMISSIONERS’ PERFORMANCE ASSESSMENT
In general, the Board of Commissioners is in charge of supervising management policies and the course of management
both regarding the Company and the Company’s business carried out by the Board of Directors. In addition, the
Board of Commissioners is also tasked with providing advice to the Board of Directors, including supervising the
implementation of the Company’s Long Term Plan, Company’s Annual Work Plan and Budget, provisions of the
Articles of Association and GMS Resolution, as well as law and regulation, for the benefit of the Company in accordance
with the aims and objectives of the Company. These tasks have been formulated in the form of Key Performance
Indicators (KPI) for the supervision of the Board of Commissioners whose achievements are evaluated every 3 (three)
months. The aggregation of evaluation results in 2022 shows that the Board of Commissioners has carried out
its supervisory duties well.
BOARD OF COMMISSIONERS’ PERFORMANCE ASSESSMENT BASED ON kPI yEAR 2022
key Performance Indicators
Planning
Supervision and Direction
Reporting
Dynamic
Point
Achievement Score
Point (%)
Score (%)
18
28
18
36
100
105
108
100
100
103
In addition, the performance of the Board of Commissioners is also assessed through a GCG assessment, referring to
Resolution of Secretary of the Ministry of SOE No. SK-16/S.MBU/2012 regarding Indicators/Parameters of Assessment
and Evaluation of the Implementation of Good Corporate Governance (GCG) in SOE.
184
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE COMMITTEE UNDER BOARD OF COMMISSIONERS’ ASSESSMENT
Audit Committee, Nomination and Remuneration Committee, and Planning and Risk Evaluation and Monitoring
Committee assist the Board of Commissioners in carrying out their duties. The Committee’s performance appraisal
is carried out annually by the Board of Commissioners and for 2022, the assessment is carried out with KPI
self-assessment. Throughout 2022, these Committees generally performed well, and were able to carry out their duties
and responsibilities as presented in the table below.
PERFORMANCE OF THE COMMITTEES UNDER THE BOARD OF COMMISSIONERS IN 2022
Committees
Audit Committee
Committee for Nomination and Remuneration
Committee for Planning and Risk Evaluation and Monitoring
Score (%)
100
100
100
BOARD OF DIRECTORS’ PERFORMANCE ASSESSMENT
Key Performance Indicator (KPI) is one of the measuring tools that can be used in assessing the performance of the
Board of Directors. The formal basis for this assessment is the Minister of SOE Regulation Number: PER-11/MBU/11/2020
dated November 12, 2020 regarding Management Contracts and Annual Management Contracts for Directors of
State-Owned Enterprises, which contain:
1. Obligation to sign the Management Contract by the Board of Directors. The Management Contract contains the
promise or statement of the prospective members of the Board of Directors, namely that if he/she is reappointed/
reappointed as a members of the Board of Directors, he/she promises to fulfill all the targets set by the GMS/Minister,
including KPI that have been previously determined, and apply the principles of GCG.
2. Performance appraisal based on KPI is determined collegially for the President Director, and individually for each
member of the Board of Directors.
3. The establishment of five perspectives in collegial preparation of the KPI for the Board of Directors, namely:
a. Economic and social values for Indonesia;
b. Business model innovation;
c. Technology leadership;
d. Increased investment; and
e. Talent development.
The calculation of the achievement of the Board of Directors KPI is collegially and individually was evaluated by the
Public Accountant Office (KAP) which audits Telkom’s financial statements. The collegial achievement report of KPI is
presented in Board of Directors’ Collegiate Assessment section of this Annual Report.
185
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk AUDIT COMMITTE
Under the Board of Commissioners, there is an Audit
Committee that assists in its supervisory duties and
functions, in accordance with Financial Service Authority
Regulation No. 55/POJK.04/2015 dated December 23, 2015,
the provisions of US SEC Exchange Act 10A-3, the principles
of Good Corporate Governance (GCG), Regulation of the
Minister of State-Owned Enterprises Number PER-12/
MBU/2012 and its amendments governing the Supporting
Organs of the Board of Commissioners/Supervisory Board
of State-Owned Enterprises and PER-5/MBU/09/2022
regarding
in
SOEs,and other regulations. This committee works based
on Regulation of the Board of Commissioners No. 11/KEP/
DK/2021 regarding Guidelines for Work Implementation
(Charter) of the Company’s Audit Committee (Persero) PT
Telekomunikasi Indonesia Tbk.
Implementation of Risk Management
AUDIT COMMITTEE’S SCOPE,
DUTIES, AND RESPONSIBILITIES
Telkom’s Audit Committee has the following scope, duties
,and responsibilities:
1. Supervision of Financial Information
b. Reviewing the process of preparing financial reports
whether they have been carried out in accordance
with applicable regulations, policies, and systems,
and procedures;
c. Evaluate the financial information that will be
published by the Company such as financial reports,
projections, and other financial information;
d. Ensuring that financial reports and other related
information are presented based on financial or
management accounting data and information
correctly and accurately
in accordance with
generally accepted accounting principles.
2. Supervision of Internal Audit
a. Reviewing the Annual Audit Work Program (PKAT)
and the Internal Audit Annual Non-Audit Work
Program (PKNAT);
b. Evaluating the effectiveness of the Company’s
Internal Audit;
c. Reviewing
the
implementation of
follow-up
on
internal auditor findings and/or external
auditor findings and Management Letters
(recommendations) by the Board of Directors;
d. Evaluate status and follow-up on significant issues;
e. Regularly review and recommend improvements
to the Internal Audit Charter.
186
3. Oversight of Internal Control
a. Reviewing the adequacy of management efforts
to build and operate effective internal controls,
controls over financial
particularly
reporting;
internal
b. Conduct immediate discussions on findings and
matters containing indications of weaknesses and/
or obstacles in internal control, inefficiencies in
the Company’s activities, errors in the application
of accounting standards, and violations of the
applicable laws and regulations.
4. Supervision of External Audit
a. Assisting the Board of Commissioners in the process
of appointing independent auditor candidates who
will carry out integrated audits of the Company and
its consolidated Subsidiaries;
b. Provide recommendations to the Company’s Board
of Commissioners regarding the appointment of
AP and/or KAP who will provide audit services;
c. Review and provide pre-approval for non-audit
services to be assigned to independent auditors;
d. Oversight of the integrated audit process in the
Company and the audit process in Subsidiaries
whose financial statements are consolidated into
the Company’s consolidated financial statements;
e. Providing an independent opinion in the event of
a difference of opinion between management and
the independent auditors;
f. Evaluate the
implementation of the provision
of audit services on annual historical financial
information by AP and/or KAP.
5. Supervision of compliance with regulations and
legislation as well as complaints regarding the process
of accounting and financial reporting
a. Conduct a review of compliance with laws and
regulations related to the Company’s business
activities including but not limited to laws and
regulations in the Capital Market sector, taxation,
and/or regulations related to good corporate
governance, as well as regulations and other laws
(financial
relating to financial reporting risks
reporting risk);
b. Providing facilities to receive, review and follow up
on complaints (Whistle-blower) which includes the
Company, Subsidiaries, and affiliates (The definition
of affiliate is as regulated in Law No. 8 of 1995
regarding Capital Markets, in Article 1 number 1);
c. Ensuring that the Company’s management creates
a work culture that encourages every employee to
comply with the Company’s code of ethics.
6. Carry out other tasks given by the Board of
Commissioners.
7. Maintain the confidentiality of documents, data and
information of the Company and its consolidated
Subsidiaries.
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE AUDIT COMMITTEE’S COMPOSITION
In accordance with Financial Service Authority Regulations and US SEC Regulations, Audit Committee at Telkom must
have at least 3 members, chaired by an Independent Commissioner, and 2 other members must be independent
parties.
The following is the composition of the Audit Committee for 2022, which is based on the AGMS Resolution dated May
28, 2021, which stipulates changes to the composition of the Board of Commissioners, and Board of Commissioners
Decision No. 08/KEP/DK/2021 dated 2 August 2021 regarding the Membership Composition of the Audit Committee of
the Company (Persero) PT Telekomunikasi Indonesia Tbk:
AUDIT COMMITTEE’S COMPOSITION AS OF DECEMBER 31, 2022
Jabatan
Chairman
Name and
Double Position Status
Bono Daru Adji*
Independent Commissioner
Basis of Appointment
Term of Service
Resolution of the Board of Commissioners No. 05/KEP/
DK/2021 dated June 8, 2021, and finally re-established
through Resolution of the Board of Commissioners No.
08/KEP/DK/2021 dated August 2, 2021.
June 8, 2021 -
Present
Members
Bambang P.S.
Brodjonegoro*
President Commissioner/
Independent Commissioner
Resolution of the Board of Commissioners No. 05/KEP/
DK/2021 dated June 8, 2021, and finally re-established
through Resolution of the Board of Commissioners No.
08/KEP/DK/2021 dated August 2, 2021.
June 8, 2021 -
Present
Wawan Iriawan *
Independent Commissioner
Resolution of the Board of Commissioners No. 17/KEP/
DK/2020 dated September 1, 2020 No. 05/KEP/DK/2021
dated June 8, 2021, and finally re-established through
Resolution of the Board of Commissioners No. 08/KEP/
DK/2021 dated August 2, 2021.
September 1, 2020 -
Present
Abdi Negara Nurdin *
Independent Commissioner
Resolution of the Board of Commissioners No. 05/KEP/
DK/2021 dated June 8, 2021, and finally re-established
through Resolution of the Board of Commissioners No.
08/KEP/DK/2021 dated August 2, 2021.
June 8, 2021 -
Present
Emmanuel Bambang
Suyitno
Independent Member/
Financial Expert
Edy Sihotang
Independent Member/
Financial & Forensic Audit
Expert
Resolution of the Board of Commissioners No. 17/KEP/
DK/2020 dated September 1, 2020 No. 05/KEP/DK/2021
dated June 8, 2021, and finally re-established through
Resolution of the Board of Commissioners No. 08/KEP/
DK/2021 dated August 2, 2021.
September 1, 2020 -
Present
Resolution of the Board of Commissioners No. 08/KEP/
DK/2021 dated August 2, 2021.
August 2, 2021 -
Present
Remark:
• Profile of Audit Committee members from the Board of Commissioners can be seen on Profile of the Board of Commissioners.
The decision of the Board of Commissioners dated 2 August, 2021 is the legal basis whereby all the old members were
reappointed and joined in the new Audit Committee.
187
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk AUDIT COMMITTEE MEMBER’S PROFILE WHO ARE NOT BOARD
OF COMMISSIONERS’ DOUBLE POSITION
EMMANUEL BAMBANG SUYITNO
INDEPENDENT MEMBER/FINANCIAL ExPERT
Age
52 years old
Nationality
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 2007 MBA, Institut Pengembangan Manajemen Indonesia (IPMI) International Business School, Indonesia.
• 1995
Bachelor Degree in Accounting, Universitas Indonesia, Indonesia.
Basis of Appointment
Resolution of the Board of Commissioners No. 17/KEP/DK/2020 dated September 1, 2020, then amended and re-established through.
Resolution of the Board of Commissioners No. 08/KEP/DK/2021 on August 2, 2021.
Term of Service
September 1, 2020 up to present.
Duties and Responsibilities
Served to oversee and monitor the integrated audit process, the process of consolidating financial statements, and the effectiveness
of internal control over financial reporting.
Career Experiences
• 2020 - Present
Independent Member/Financial Expert of Audit Committee.
• 2017 - 2020
Corporate Secretary Division, PT PP Presisi Tbk.
• 2016 - 2017
SVP - Head of Investor Relations, Corporate Finance, MIS & Audit, Lucky Group of Indonesia.
• 2014 - 2016
• 1994 - 2014
Audit Committee Member, PT Danareksa Persero.
Audit Committee, Risk Management and Audit, Corporate Secretary, Investor Relations, Corporate Finance,
ChemOne Holdings Pte Ltd, PT Indika Energy Tbk, PT. Surya Citra Media Tbk, PT. Kopitime Dot Com Tbk, Jan
Darmadi Group, Ernst and Young.
Certificates and Professional Licenses
• 2019
Certification in Audit Committee Practices (CACP), Ikatan Komite Audit Indonesia.
• 2015
Indonesia Registered Accountant (RNA) by Ministry of Finance of the Republic of Indonesia.
• 2014 Chartered of Accountant by International Federation of Accountants (IFAC), Ikatan Akuntan Indonesia (IAI).
188
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
INDEPENDENT MEMBER/FINANCIAL & FORENSIC AUDIT ExPERT
EDY SIHOTANG
Age
57 years old
Nationality
Indonesian
Domicile
Jakarta, Indonesia
Educations
• 1997 MBA, University of Illinois at Urbana-Champaign, USA.
• 1991
Diploma IV in Accounting, Sekolah Tinggi Akuntansi Negara, Indonesia.
• 1985 Diploma III in Accounting, Sekolah Tinggi Akuntansi Negara, Indonesia.
Basis of Appointment
Resolution of the Board of Commissioners No. 08/KEP/DK/2021 dated August 2, 2021.
Term of Service
August 2, 2021 up to present.
Duties and Responsibilities
Served to oversee and monitor the integrated audit process, the process of consolidating financial statements, and the effectiveness
of internal control over financial reporting.
Career Experiences
• 2021 - Present
Independent Member/Financial & Forensic Audit Expert.
• 2019 - 2020
Vice President Investigation & WBS, PT Pertamina (Persero).
• 2018 - 2019
Head of Internal Audit, PT Pertamina Geothermal Energy.
• 2013 - 2017
Head of Internal Audit, PT Pertamina Internasional Eksplorasi dan Produksi.
• 2009 - 2012
GCG & Compliance, Corporate Secretary, PT Pertamina (Persero).
• 2006 - 2009
Head of Internal Auditor/Inspector, Badan Rehabilitasi dan Rekonstruksi NAD-Nias.
• 1999 - 2005
Widyaiswara/Lecturer, Badan Pendidikan dan Pelatihan Keuangan, Department of Finance.
• 1997 - 1998
Auditor, Public Accounting Firm (KAP) Hadori, Soejatna & Rekan.
• 1985 - 1997
Auditor, Badan Pengawasan Keuangan dan Pembangunan (BPKP).
Professional Licenses and Certificates
• 2021
Certification of Audit Committee Practices (CACP), Ikatan Komite Audit Indonesia.
• 2019
Certified Forensic Auditor (CFrA), Lembaga Sertifikasi Profesi Auditor Forensik, Indonesia.
• 2014 Chartered Accountant (CA), Ikatan Akuntan Indonesia.
• 2014 Certified Control Self-Assessment (CCSA), Institute of Internal Auditor, USA.
• 2013
Certified Risk Management Assurance (CRMA), Institute of Internal Auditor, USA.
• 2012 Qualified Internal Auditor (QIA), Institute of Internal Auditor, Indonesia.
• 2011
Certified Internal Auditor (CIA), Institute of Internal Auditor, USA.
• 2009 Certified Fraud Examiner (CFE), Association of CFE, USA.
• 1996
Certified Public Accountant (CPA), USA.
189
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk AUDIT COMMITTEE INDEPENDENCE
Telkom Audit Committee members must always have integrity and be independent in carrying out their duties and
responsibilities. All members of Audit Committee are required to sign an integrity and independence pact so that
Telkom is confident that every decision taken through Audit Committee will be free from pressure from other parties
as a form of commitment to independence.
AUDIT COMMITTEE’S PERFORMANCE AND
IMPLEMENTATION ACTIVITIES
Telkom has summarized the performance and implementation of Audit Committee’s activities during 2022 Financial
Year in Committee’s Activity Report, which contains:
1. Conduct discussions on the Company’s quarterly consolidated financial reports
The Audit Committee conducts studies and discussions with management regarding the Company’s quarterly
consolidated financial statements before these financial reports are reported to the Financial Services Authority
and the Stock Exchange, so that the quality of the financial reports issued by management is presented fairly, there
are sufficient disclosures and there are no material misstatements.
2. Supervise the Integrated Audit process for the 2021 and 2022 Financial years
a. The Audit Committee has held discussions with the Independent Auditor KAP Purwantono, Sungkoro &
Surja, (a member firm of Ernst & Young Global Limited) (KAP PSS/EY) together with the Internal Auditor and
management (VP Financial Policy, SGM Shared Service of Finance), regarding standard quality and acceptability
financial accounting applied by the company, the appropriateness of significant accounting estimates and
judgments and the adequacy of disclosures in the consolidated financial statements, as well as the effectiveness
of internal controls implemented by management, so that the quantity and quality of financial reports issued by
management are presented fairly and there are no significant misstatements material.
b. The Audit Committee has reviewed and discussed the audited consolidated financial statements and notes
to the consolidated financial statements in the Annual Report (Form 20F) with the company’s management.
Regarding to corporate risk management, the Audit Committee oversees and monitors the risk of fraud and
financial reporting risks that may have a material impact on the presentation of the financial statements.
c. In addition, the Audit Committee also reviews and discusses with the Independent Auditor (KAP PSS/EY) the
management’s compliance with the implementation of Capital Market regulations and other regulations related
to the company’s business in accordance with PSA 62 standards which began to be audited in 2017.
d. The Audit Committee has held discussions with KAP PSS/EY regarding the Integrated Audit plan for the 2022
Financial Year.
e. The Audit Committee has discussed developments - Interim Integrated Audit for Financial Year 2022 and the
Early Warning Report (EWR).
3. Reviewing and supervising the implementation of the work program of the Internal Audit Department for the
2022 Financial year
a. On a quarterly basis, the Audit Committee reviews the Management Report of the Internal Audit Department
which contains the implementation of the work programs of all Internal Auditor Sub-Units, including the
constraints found in the field.
b. The Audit Committee evaluates the status of completion of internal audits, special audits and investigative
audits, settlement of pending matters, implementation of recommendations from the audit process and internal
consultation as well as from the external audit process, including follow-up monitoring.
4. Holding a workshop with the Internal Audit Department
The Audit Committee held a workshop with the Internal Audit Department which aims to observe changes in the
company’s needs for the Internal Audit function. In the workshop, a strategic session was held to discuss strategic
matters relating to the adequacy of the fulfilment of Internal Audit’s duties and functions, as well as strategies to
strengthen Internal Audit to face the challenges faced today and in the future.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
5. Reviewing the Internal Audit Department’s Annual Audit Work Program (PkAT) and Annual Non-Audit Work
Program (PkNAT) plans for the 2023 Financial year
The Audit Committee has conducted studies and discussions as well as input and recommendations on the
proposed Annual Audit Work Program (PKAT) and Annual Non-Audit Work Program (PKNAT) for the Internal Audit
Department for the 2023 Financial Year before the work programs were determined by Management.
6. Supervise the Internal Control
a. The Audit Committee reviews significant issues and other findings, as well as follow-up actions, such as special
audits and investigative audits.
b. The Audit Committee reviews the Control Self-Assessment (CSA).
7. Evaluate the performance of the Independent Auditor who audited the Company’s consolidated
financial statements for the 2021 Financial Year and provide recommendations to the Board of Commissioners
regarding the appointment of an Independent Auditor who will audit the Company’s consolidated financial
statements for the 2022 Financial Year
a. The Audit Committee prepares an evaluation report on the audit implementation of the Company’s consolidated
financial statements for the 2021 Financial Year which is submitted to the Board of Commissioners and the
Capital Market Authority (OJK).
b. Referring to the Audit Committee’s evaluation report on the audit of the Company’s consolidated financial
statements for the 2021 Financial Year, the Board of Commissioners proposes a candidate for an Independent
Auditor to audit the consolidated financial statements for the 2022 Financial Year to the Company’s Annual
General Meeting of Shareholders (AGMS) for 2022.
8. Supervise the audit process of the Social and Environmental Responsibility Program (TJSL) being implemented
by the Community Development Center (CDC) Unit for Financial year 2022
The Audit Committee has held discussions with CDC management regarding the implementation of the 2022 Social
and Environmental Responsibility Program and the audit process for the 2022 TJSL Program financial reports, as
well as agreed upon procedures (Agreed Upon Procedure/AUP) for compliance with the applicable regulations in
management of the TJSL Program that has been carried out by KAP PSS/EY.
9. Conducting joint studies with the Planning and Risk Evaluation and Monitoring Committee (kEMPR)
The Audit Committee has conducted joint discussions regarding special assignments given by the Board of
Commissioners.
10. Preparing the 2023 Audit Committee Annual Work Program
The Audit Committee has prepared and discussed the 2023 Audit Committee Annual Work Program together with
the Board of Commissioners to ensure that the work program includes all duties and responsibilities that have
been regulated and specified in the Charter, as well as specific tasks assigned by the Board of Commissioners.
11. Conduct a review of the complaint information that is received through the Whistleblowing System (WBS)
program for the 2022 Financial year
a. The Audit Committee evaluates and monitors all WBS reports that enter the Telkom Integrity line, which is
managed by Deloitte.
b. The Audit Committee reviews and follows up on all WBS reports it receives in accordance with the escalation.
c. The Audit Committee coordinates with other stakeholders regarding incoming WBS to ensure that incoming
WBS has been followed up in accordance with governance.
12. The Audit Committee has held discussions with the HCM Directorate regarding employee integrity management
reports to ensure that management has been carried out properly. The employee integrity management reports
are the My Integrity application, ISO 37001: 2016 SMAP, Business Ethics and Integrity Pact, LHKPN and gratuities.
191
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk AUDIT COMMITTEE’S MEETING
Audit Committee must be carry out a Committee Meeting at least once a month, in accordance with Telkom’s Audit
Committee Charter. This provision is more intensive when compared to the minimum provisions for Committee
Meetings regulated in Financial Service Authority Regulation No. 55/ POJK.04/2015 dated December 23, 2015 regarding
Establishment and Guidelines for Work Implementation of Audit Committee, particularly in Article 13, which states
that Audit Committee holds regular meetings at least once every three months. Throughout 2022, Audit Committee
has held 31 Committee Meetings with the attendance rate as presented in the table below.
AUDIT COMMITTEE’S MEETING ATTENDANCES 2022
No.
Name
Total Meetings
Total Attendances
1.
2.
3.
4.
5.
6.
Wawan Iriawan
Bono Daru Adji
Bambang P. S. Brodjonegoro
Abdi Negara Nurdin
Edy Sihotang
Emmanuel Bambang Suyitno
31
31
31
31
31
31
31
31
31
31
31
31
Percentage of
Attendance %
100
100
100
100
100
100
AUDIT COMMITTEE’S EDUCATION AND TRAINING
Members of Telkom Audit Committee regularly attend various trainings, seminars, and workshops with the aim
of improving and developing competencies related to the implementation of the duties and functions of Audit
Committee. The following table presents information related to the training that has been attended by members of
Audit Committee during 2022.
EDUCATION AND TRAINING OF AUDIT COMMITTEE IN 2022
Name
Training Program
Date
Location
Emmanuel
Bambang Suyitno
a. The 1st National Conference “Leveraging
January 26-27, 2022
Jakarta (Virtual)
the Roles of Audit Committee”
b. Crime Challenges and Mitigation and
Enhancement of Cyber Security in the
Financial Services Industry
March 10, 2022
Jakarta (Virtual)
c. Oversight Function of External Audit
April 7,2022
Jakarta (Virtual)
d. Optimizing Sustainability Governance
Through a Single Set of High Quality
Global Sustainability Reporting Standards
e.
f.
Sharing Session Update about Capital
Market
Bank Digitalization: Lesson Learnt from
Asian Countries
April 12, 2022
Jakarta (Virtual)
April 22, 2022
Jakarta (Virtual)
May 19, 2022
Jakarta (Virtual)
No.
1.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
No.
Name
Training Program
Date
Location
g. Digital Governance: Prerequisites
Support Digital Transformation
to
August 11, 2022
Jakarta (Virtual)
h. Fostering Agility
to Combat Money
September 28, 2022
Jakarta (Virtual)
i.
j.
k.
l.
Laundering & Economic Crime
Recent Update Sustainability Disclosure
Standard
September 30, 2022
Jakarta (Virtual)
Consumer Protection in the Digital Era
October 6, 2022
Jakarta (Virtual)
Follow-up Socialization of SOE Ministerial
Regulation Number: PER-5/MBU/09/2022
regarding
Implementation of Risk
Management in SOEs
Further discussion of SOE Ministerial
Regulation Number: PER-5/MBU/09/2022
regarding
Implementation of Risk
Management in SOE
October 14, 2022
Jakarta (Virtual)
October 17, 2022
Jakarta (Virtual)
m. Training: Tools for New Auditor
October 18-20, 2022
Chicago (Offline)
n. Fraud Detection With Data Science
October 27,2022
Jakarta (Virtual)
o. Cybersecurity: Are You Protected?
November 3, 2022
Jakarta (Virtual)
p.
“Data Protection for Indonesia’s Digital
Transformation”
November 3, 2022
Jakarta (Virtual)
q. Key Audit Matters: Why It Matters
November 12, 2022
Jakarta (Virtual)
r. GRC Masterclass: Strengthening the Role
of the Audit Committee, Risk Committee,
and Integrated Governance
November 17, 2022
Jakarta (Virtual)
s. Corporate Radar & Early Warning System November 19, 2022
Jakarta (Virtual)
t.
u.
a.
b.
Integrating your Financial & Sustainability
Disclosures & Carbon Tax
Indonesia International Conference for
Sustainability Finance & Economy 2022
The 1st National Conference "Leveraging
the Roles of Audit Committee"
Sharing Session Update about Capital
Market
November 21, 2022
Jakarta (Virtual)
November 19, 2022
Jakarta (Virtual)
January 26-27, 2022
Jakarta (Virtual)
April 22, 2022
Jakarta (Virtual)
c. Webinar IIA "Evolution IPPF Embracing
August 30, 2022
Jakarta (Virtual)
the Future"
d.
Implementation of Risk Management in
Ministry of SOE
October 17, 2022
Jakarta (Virtual)
e.
Tools for New Auditor
October 18-20, 2022
Chicago
f.
Key Audit Matters: Why It Matters
November 12, 2022
Jakarta (Virtual)
g. Governance, Risk and Compliance
November 17, 2022
Jakarta (Virtual)
2.
Edy Sihotang
Remark:
*Education and Training of Audit Committee members who are members of the Board of Commissioners can be seen in the Education and Training of the
Board of Commissioners.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
COMMITTEE FOR NOMINATION
AND REMUNERATION
Telkom has Committee for Nomination and Remuneration
(KNR) as a form of GCG implementation. This committee
is tasked with assisting the Board of Commissioners in
fulfilling their responsibilities related to remuneration
decisions, submission of Top Talent proposals, and
nominations for the Board of Directors and the Board
of Commissioners of Subsidiaries. With KNR, Telkom
hopes that the selection process and remuneration
policy-making can be carried out in accordance with
professional and independent considerations without
any pressure from other parties.
The establishment of Committee for Nomination and
Remuneration (KNR) refers to Financial Service Authority
Regulation No. 34/POJK.04/2015 regarding Committee
for Nomination and Remuneration for Issuers or Public
Companies and Regulation of the Minister of State-
Owned Enterprises Number PER-12/MBU/2012 and its
amendments regulates the Supporting Organs of the
Board of Commissioners/Supervisory Board of State-
Owned Enterprises and PER-5/MBU/09/2022 regarding
Implementation of Risk Management in SOEs as an
external regulation.
(Charter) of Committee
Internally, the provisions regarding KNR are regulated
in Committee
for Nomination and Remuneration
Charter, which is stipulated by Resolution of the Board
of Commissioners No. 12/KEP/DK/2021 dated November
29, 2021 regarding Guidelines for the Implementation
for Nomination
of Work
and Remuneration of the Company
(Persero) PT
Telekomunikasi Indonesia, Tbk. The guidelines contain the
working procedures of the KNR whose task is to assist the
Board of Commissioners in overseeing the determination
of qualifications and the nomination process, as well as
the remuneration of the Board of Commissioners, Board
of Directors, and executive officers.
KNR’S SCOPE, DUTIES, AND
RESPONSIBILITIES
KNR’s scope, duties, and responsibilities are as follows:
1. For Nomination
a. Conduct regular reviews of the Company’s Talent
Management System as well as monitoring and
evaluating its implementation.
b. Evaluating the talent classification system and
procedure carried out by the Board of Directors.
c. Validate and calibrate talents proposed by the
Board of Directors to the Board of Commissioners/
Supervisory Board (selected talent) to produce a
list of talents that will be nominated by the Board
of Commissioners/Supervisory Board (nominated
talent) to the GMS/Minister.
194
d. Evaluate the candidates for representatives of the
Company who will be proposed as members of the
Board of Directors or the Board of Commissioners
of the Company’s Subsidiaries, prior to submission
to the GMS/Minister.
e. Reviewing the proposed organizational structure of
the Company one level below the Board of Directors
proposed by the Board of Directors, referring to the
principles of good corporate governance.
f. Assist the Board of Commissioners who together
with or consult with the Board of Directors in
selecting candidates for strategic positions within
the Company in accordance with the provisions in
the Company’s Articles of Association, including the
management of Subsidiaries.
recommendations
the Board of
Commissioners to be submitted to Series A
Dwiwarna Shareholders regarding:
i. Proposed composition of position for members
g. Provide
to
of the Company’s Board of Directors.
ii. Candidates
for members of the Board of
Directors and Commissioners of Subsidiaries
comply with the threshold.
h. Develop policies and criteria needed
iii. Candidates for President Director and President
Commissioner of all the Company’s Subsidiaries.
in the
nomination process for candidates for members of
the Board of Directors including the management
of the Company’s Subsidiaries.
2. For Remuneration
a. Provide
to
recommendations
the Board of
Commissioners to be submitted to the GMS
through the Series A Dwiwarna Shareholder
regarding the policy, amount and/or structure of
the remuneration of the Board of Directors and the
Board of Commissioners by taking into account:
i. Remuneration
applicable
the
in
telecommunications industry;
ii. The duties, responsibilities, and authorities of
the members of the Board of Directors and/or
the Board of Commissioners are related to the
achievement of the goals and performance of
the Company;
iii. Performance targets for each member of the
Board of Directors and Board of Commissioners.
b. Propose remuneration for the Board of Directors
and Board of Commissioners in the form of salary or
honorarium, fixed allowances and facilities, as well
as variable incentives to the Board of Commissioners
at least once in 1 (one) year.
c. Propose indicators and performance evaluations
(Key Performance Indicators) for the Board of
Commissioners.
d. Prepare proposal
individual performance
evaluation systems (Individual Key Performance
Indicators) for members of the Board of Directors.
for
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
e. Develop and monitor the
implementation of
Performance Achievement Indicators (KPI) both
Collegial KPI and Directors’ Individual KPI.
f. Deliver the progress of the realization of the
Performance Achievement
(KPI) to
the Shareholder/Minister in accordance with the
provisions of the legislation.
Indicators
g. Evaluating the remuneration policy for employees
who require approval/response from the Board of
Commissioners/Supervisory Board.
h. Develop competency development programs for
Committee members and/or members of the Board
of Commissioners.
In Letter of Minister of SOE number S.675/MBU/10/2018
dated October 18, 2018, regarding approval of proposals,
limits and/or criteria for the authority of the Board of
Commissioners of PT Telekomunikasi Indonesia (Persero)
Tbk, there is a division of authority for the nomination of
the Company’s representatives in management of the
Company’s Subsidiaries, then:
1. The authority of Series A Dwiwarna Shareholder is for:
a. President Director and President Commissioner of
the Company’s subsidiaries.
b. Company
management
and
Commissioners), with total assets ≥ 50% of total
parent assets and/or subsidiary revenue ≥ 50% of
parent revenue.
(Directors
2. The authority of the Board of Commissioners of PT
Telkom Indonesia (Persero) Tbk is for the Director
(other than the President Director) and the Board
than
(other
of Commissioners
the President
Commissioner) in the Company’s subsidiary with
a total asset ≤ 50% of the total assets of the parent
company, and/or a subsidiary with revenue ≤ 50% of
the parent company’s total revenue.
In 2022, KNR Telkom has conducted a Feasibility and
Compliance Test for 18 (eighteen) times for 18 (eighteen)
management positions (target positions) with 62 candidates
in 8 (eight) Subsidiaries, as a follow-up to Letter of Minister
of SOE number S.675/MBU/10/2018, dated October 18, 2018.
KNR’S COMPOSITION
Telkom’s Board of Commissioners issued Resolution
of the Board of Commissioners No. 06/KEP/DK/2021
dated June 8, 2021 regarding Membership Composition
of Committee for Nomination and Remuneration of
PT Telekomunikasi
Indonesia, Tbk. The Resolution
was issued by the Board of Commissioners because it
refers to Financial Service Authority Regulation No. 34/
POJK.04/2015 regarding Committee for Nomination
and Remuneration of Issuers or Public Companies
stipulates that the number of members of Committee
for Nomination and Remuneration is at least 3 people
with the provision that 1 Chairman who is concurrently a
member is an Independent Commissioner, and the other
two members may come from members of the Board
Commissioners, parties from outside the Company, as
well as parties holding managerial positions under the
Board of Directors in charge of human resources.
The following table presents information regarding the composition of Telkom’s KNR members as of December 31, 2022.
COMMITTEE FOR NOMINATION AND REMUNERATION’S COMPOSITION AS OF DECEMBER 31, 2022
Position
Name and Double Position
Status
Basis of Appointment
Term of
Service
Chairman Wawan Iriawan*
Independent Commissioner
Resolution of the Board of Commissioners No. 06/KEP/
DK/2021 dated June 8, 2021
June 8, 2020 -
Present
Members
Rizal Mallarangeng*
Commissioner
Resolution of the Board of Commissioners No. 10/KEP/DK/2020
dated June 29, 2020 and updated with Resolution of the Board
of Commissioners No. 06/KEP/DK/2021 dated June 8, 2021
June 29, 2020 -
Present
Arya Mahendra Sinulingga*
Commissioner
Resolution of the Board of Commissioners No. 06/KEP/
DK/2021 dated June 8, 2021
June 8, 2021-
Present
Ismail*
Commissioner
Marcelino Rumambo Pandin*
Commissioner
Resolution of the Board of Commissioners No. 06/KEP/
DK/2019 dated December 17, 2019, updated several times with
the latest amendment based on Resolution of the Board of
Commissioners No. 06/KEP/DK/2021 dated June 8, 2021
May 29, 2019 -
Present
Resolution of the Board of Commissioners No. 06/KEP/
DK/2019 dated December 17, 2019, updated several times with
the latest amendment based on Resolution of the Board of
Commissioners No. 06/KEP/DK/2021 dated June 8, 2021
May 29, 2019 -
Present
Abdi Negara Nurdin*
Independent Commissioner
Resolution of the Board of Commissioners No. 06/KEP/
DK/2021 dated June 8, 2021
June 8, 2021
Remark:
*Profile of KNR members from the Board of Commissioners can be seen on Profile of the Board of Commissioners.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
KNR’S INDEPENDENCE
Throughout 2022, each member of KNR has acted independently and fulfilled the independence aspect in carrying out
their duties, in accordance with the applicable terms and conditions stated in Financial Services Authority Regulation
No. 34/POJK.04/2015 regarding Committee for Nomination and Remuneration of Issuers or Public Companies and
Resolution of the Board of Commissioners No. 12/KEP/DK/2021 dated November 29, 2021 regarding Guidelines for
Implementation of Work (Charter) of Committee for Nomination and Remuneration of the Company (Persero) PT
Telekomunikasi Indonesia, TBK.
KNR’S PERFORMANCE AND IMPLEMENTATION ACTIVITIES
Until the end of 2022, Committee for Nomination and Remuneration has assisted the implementation of the duties of
the Board of Commissioners in producing decisions, through the implementation of a series of activity agendas, namely:
1. Preparation of the Board of Commissioners Decision Number: 03/KEP/DK/2022/RHS which regulates Key
Performance Indicators (KPI) for the Directors collegially and individually in 2022.
2. Amendment to the Resolution of the Board of Commissioners Number: 03KEP/DK/2022/RHS regarding Collegial
and Individual Key Performance Indicators (KPI) for Directors of the Company (Persero) as stated in the Board of
Commissioners’ Decree
KNR’S MEETINGS
Based on Financial Service Authority Regulation No. 34/POJK.04/2015 regarding Committee for Nomination and
Remuneration, Telkom is required to hold a Committee for Nomination and Remuneration Meeting at least once in
4 months. During 2022, KNR has held Committee meetings including circular decisions 40 times. The following table
presents information of attendance rate of each member at Committee for Nomination and Remuneration meeting
in 2022.
COMMITTEE FOR NOMINATION AND REMUNERATION’S MEETING ATTENDANCE IN 2022
No.
Name
Total of Meetings
Total of Attendance
1.
2.
3.
4.
5.
6.
Wawan Iriawan
Abdi Negara Nurdin
Arya Mahendra Sinulingga
Ismail
Marcelino Rumambo Pandin
Rizal Malarangeng
40
40
40
40
40
40
40
37
37
34
32
32
Percentage of
Attendance %
100
93
93
85
80
80
KNR’S EDUCATION AND TRAINING
Given that all members of Committee for Nomination and Remuneration are the Board of Commissioners, an explanation
of education and training can be seen in the profile section of the Board of Commissioners in this Annual Report.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE REMUNERATION OF THE BOARD OF COMMISSIONERS
AND THE BOARD OF DIRECTORS
BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS
REMUNERATION MECHANISM AND PROCEDURE
KNR* by the instructions
from the Board of
Commisioners create
remuneration draft. The
result will be decide in
1
3
KNR ask independent
Party for Suggestion
Independent Party give
the suggestion to KNR
2
5
4
AGMS
*KNR: Committe for Nomination and Remuneration
Furthermore, the procedure for proposing up to the determination of the remuneration of Telkom’s Board of
Commissioners and Board of Directors are explained as follows:
1. The Board of Commissioners requests the KNR to draft a remuneration proposal for the Board of Commissioners
and the Board of Directors.
2. If needed, Committee for Nomination and Remuneration can request an independent party to draw up a framework
on the remuneration of the Board of Commissioner and the Board of Directors.
3. The Committee for Nomination and Remuneration proposes the remuneration framework referred to to the Board
of Commissioners.
4. The Board of Commissioners proposes remuneration for the Board of Commissioners and the Board of Directors
to GMS.
5. The GMS delegates authority and power to the Board of Commissioners, with the prior approval of Series
A Dwiwarna Shareholders to determine the remuneration for Board of Commissioners and the Board of Directors.
REMUNERATION ACCEPTANCE OF THE BOARD
OF COMMISSIONERS
In 2022, total remuneration paid by Telkom to all the Board of Commissioners who served in 2022 and previous period
is Rp119.259 billion. The following table presents information on the remuneration paid to the Board of Commissioners
in 2022.
BOARD OF COMMISSIONERS’ RECAPITULATION OF REMUNERATION
Honorarium and
Other Allowance
Tantiem
Total
(Rp million)
4,046,628,571
8,026,027,397
12,072,655,968
No.
Commissioners
Position
Bambang P, S,
Brodjonegoro
President Commissioner/
Independent Commissioner
1.
2.
3.
Bono Daru Adji
Independent Commissioner1
3,629,080,000
7,223,424,658
10,852,504,658
Abdi Negara
Nurdin
Independent Commissioner1
3,631,008,571
7,223,424,658
10,854,433,229
4.
Wawan Iriawan
Independent Commissioner1
3,627,151,429
12,150,000,000
15,777,151,429
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No.
Commissioners
Position
Honorarium and
Other Allowance
Tantiem
Total
(Rp million)
5.
6.
7.
8.
9.
Total
Arya Mahendra
Sinulingga
Independent Commissioner
3,627,151,429
7,223,424,657
10,850,576,086
Isa Rachmatarwata Commissioner1
3,627,151,429
7,223,424,657
10,850,576,086
Ismail
Marcelino
Rumambo Pandin
Commissioner1
Commissioner2
3,627,151,429
12,482,073,657
16,109,225,086
3,629,080,000
12,482,073,657
16,111,153,657
Rizal Mallarangeng Commissioner2
3,631,008,571
12,150,000,000
15,781,008,571
33,075,411,429
86,183,873,341
119,259,284,770
Remarks:
1. Tantiem is declared as gross tantiem, including LTI, which is given to management of the Company who served in 2019 financial year.
2. Remuneration for tantiem rights for Financial Year 2022.
REMUNERATION ACCEPTANCE OF THE BOARD OF DIRECTORS
In 2022, total remuneration paid by Telkom to all the Board of Directors who served in 2022 and previous period is
Rp170.957 billion. The following table presents information on the remuneration paid to each Board of Directors in 2022.
BOARD OF DIRECTORS’ RECAPITULATION OF REMUNERATION
No.
Directors
Position
Honorarium & Other Allowance
Tantiem
Total
(Rp million)
Ririek Adriansyah President Director
6,068,268,800
19,500,000,000
25,568,268,800
1.
2.
3.
4.
5.
6.
7.
8.
9.
Afriwandi
Director of HCM
Heri Supriadi
Director of KMR
FM Venusiana R, Director of CONS
& Acting Director
of EBIS
Edi Witjara
Director of EBIS1
Herlan Wijanarko Director of NITS
Director of DB
Muhamad Fajrin
Rasyid
Budi Setyawan
Wijaya
4,941,000,000
4,941,000,000
4,941,000,000
3,184,088,320
4,941,000,000
4,941,000,000
16,575,000,000
21,516,000,000
16,575,000,000
21,516,000,000
16,575,000,000
21,516,000,000
0
3,184,088,320
16,575,000,000
21,516,000,000
16,575,000,000
21,516,000,000
Director of SP
4,941,000,000
16,575,000,000
21,516,000,000
Bogi Witjaksono Director of WINS
3,304,350,096
9,804,387,959
13,108,738,055
Total
42,202,707,216
128,754,387,959
170,957,095,175
Remark:
1. Has been out of position since 8 July 2022
The position of EBIS Director is filled by appointing Ms. FM Venusiana R as Acting Director of EBIS in addition to her position as Director of Consumer
Service
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
COMMITTEE FOR PLANNING AND RISK
EVALUATION AND MONITORING
Telkom’s highest governance instrument is expected
to be able to evaluate and monitor the business plans
and risks faced in carrying out its business activities.
Therefore, Telkom has formed Committee for Planning
and Risk Evaluation and Monitoring (KEMPR) whose task
is to assist the Board of Commissioners in supervising
and monitoring the Company’s risk planning and
management activities.
KEMPR’S SCOPE, DUTIES, AND
RESPONSIBILITIES
The duties and
responsibilities of KEMPR were
officially stipulated through Regulation of the Board of
Commissioners No. 13/KEP/DK/2021 dated November
29, 2021 regarding Work Implementation Guidelines
(Charter) of Committee for Planning and Risk Evaluation
and Monitoring (KEMPR) of PT Telekomunikasi Indonesia
(Persero), Tbk. Some things covered by KEMPR Charter are:
1. The establishment and the appointment of its members;
2. The structure and requirements of membership,
duties, responsibilities, and authority; and
3. The scope of work, meetings, reporting, a term of
office, and funding.
Then, the scope, duties, and responsibilities of KEMPR in
helping the Board of Commissioners oversee the course
of the Company which are:
1. Conduct a comprehensive evaluation of the proposed
Company’s Long-Term Plan
(RJPP), Corporate
Strategic Scenario (CSS), and Company’s Budget Work
Plan (RKAP) submitted by the Board of Directors;
2. To evaluate the implementation of RJPP, CSS, and
RKAP to assess whether the implantation is in line
with the target of RJPP, CSS, and RKAP which has
been approved by the Board of Commissioners; and
3. Monitoring the implementation of enterprise risk
management and project risk management, especially
for projects whose implementation is through the
approval of the Board of Commissioners.
KEMPR’S COMPOSITION
Based on Regulation of the Board of Commissioners
No. 09/KEP/DK/2021 dated August 2, 2021 regarding
Membership Composition of Committee for Planning
and Risk Evaluation and Monitoring of Telkom, then the
composition of KEMPR members as of the end of 2022
can be seen in the following table.
With the appointment of KEMPR members, on August 2,
2021, the following KEMPR members will no longer carry
out their duties in the committee.
COMMITTEE FOR PLANNING AND RISk EvALUATION AND MONITORING’S COMPOSITION AS OF DECEMBER 31, 2022
Position
Chairman
Members
Name and Double
Position Status
Arya Mahendra Sinulingga*
Commissioner
Basis of Appointment
Regulation of the Board of Commissioners No. 07/KEP/
DK/2021 dated June 8, 2021 and updated with No. 09/KEP/
DK/2021 dated August 2, 2021.
Term of
Service
May 28, 2021 -
Present
Bambang P. S. Brodjonegoro*
President Commissioner/
Independent Commissioner
Regulation of the Board of Commissioners No. 07/KEP/
DK/2021 dated June 8, 2021 and updated with No. 09/KEP/
DK/2021 dated August 2, 2021.
May 28, 2021 -
Present
Rizal Mallarangeng*
Commissioner
Ismail*
Commissioner
Isa Rachmatarwata*
Commissioner
Regulation of the Board of Commissioners No. 11/KEP/DK/2020
dated June 29, 2020, and has been updated several times with
the latest amendments based on Resolution of the Board of
Commissioners No. 09/KEP/DK/2021 dated August 2, 2021.
June 29, 2020 -
Present
Regulation of the Board of Commissioners No. 05/KEP/DK
2019 dated May 29, 2019.
May 24, 2019 -
Present
Regulation of the Board of Commissioners No. 07/KEP/
DK/2021 dated June 8, 2021 and updated with No. 09/KEP/
DK/2021 dated August 2, 2021.
May 28, 2021 -
Present
Bono Daru Adji*
Independent Commissioner
Regulation of the Board of Commissioners No. 07/KEP/
DK/2021 dated June 8, 2021 and updated with No. 09/KEP/
DK/2021 dated August 2, 2021.
May 28, 2021 -
Present
Embun Prowanta
Independent Member
Regulation of the Board of Commissioners No. 02/KEP/
DK/2020 dated January 15, 2020, and was updated several
times, with the latest amendment based on Resolution of
the Board of Commissioners No. 09/KEP/DK/2021 dated
August 2, 2021.
January 9, 2020
- Present
Siswa Rizali
Independent Member
Resolution of the Board of Commissioners No. 09/KEP/
DK/2021 dated August 2, 2021.
August 2, 2021 -
Present
Remarks:
*Profile of KEMPR members from the Board of Commissioners can be seen on Profile of the Board of Commissioners.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk KEMPR’S MEMBER PROFILE WHO ARE NOT BOARD
OF COMMISSIONERS’ MEMBER
Age
59 years old
Educations
EMBUN PROWANTA
INDEPENDENT MEMBER
Nationality
Indonesian
Domicile
Jakarta, Indonesia
• 2017 Doctoral Degree, Universitas Brawijaya, Indonesia.
• 1993 Master Degree in Management, Universitas Gajah Mada, Indonesia.
• 1988 Bachelor Degree in Mathematic and Science Study, Universitas Nasional, Indonesia.
Basis of Appointment
Resolution of the Board of Commissioners No. 02/KEP/DK/2020 dated January 15, 2020 regarding Membership Composition of
Committee for Planning and Risk Evaluation and Monitoring of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia, Tbk
as later amended and updated with the latest update through Resolution of the Board of Commissioners No. 09/KEP/DK/2021 dated
August 2, 2021 regarding Membership Composition of Committee for Planning and Risk Evaluation and Monitoring of Perusahaan
Perseroan (Persero) PT Telekomunikasi Indonesia, Tbk.
Term of Service
January 9, 2020 up to present.
Duties and Responsibilities
Together with other KEMPR members, it is tasked with evaluating the proposed Company Long Term Plan (RJPP), Corporate Strategic
Scenario (CSS), and Company Budget Activity Plan (RKAP) submitted by the Board of Directors, evaluating the implementation
of RJPP, CSS, and RKAP, and supervising the implementation of Telkom’s enterprise risk management and Telkom’s project risk
management.
Career Experiences
• 2020 - Present
• 2017 - Present
• 1996 - Present
Professional License and Certificate
• 2022 Certificate in Sustainability for Finance.
Certified Investment Banking (CIB) by Association of Indonesian Capital Market Professional.
• 2018
Assessor Risk Management by BNSP.
• 2017
Certified Risk Professional (CRP) by Association of Indonesian Capital Market Professional.
• 2016
• 2012
Certified Securities Analysts (CSA) by Association of Securities Analysts Indonesia.
• 2008 Certified Financial Planner (CFP) by Financial Planning Standard Board Indonesia.
• 2005 Recommended Trainer Level 1 & 2 on Bank Risk Management by BSMR & GARP.
Independent Member/Secretary of Committee for Planning and Risk Evaluation and Monitoring (KEMPR).
Assessor of Lembaga Sertifikasi Profesi Pasar Modal (LSPPM).
Postgraduate Lecturer at Perbanas Institute Jakarta.
Age
49 years old
Educations
SISWA RIzALI
MEMBER
Nationality
Indonesian
Domicile
South Tangerang, Indonesia
• 2022 Master of Social Sciences (Economics), National University of Singapore, Singapore.
• 1996 Bachelor of Economics, Universitas Indonesia, Indonesia.
Basis of Appointment
Reseolution of the Board of Commissioners No. 09/KEP/DK/2021 dated August 2, 2021 regarding Membership Composition of
Committee for Planning and Risk Evaluation and Monitoring of the Company (Persero) PT Telekomunikasi Indonesia, Tbk.
Term of Service
August 2, 2021 up to present.
Duties and Responsibilities
Together with other KEMPR members, they are tasked with evaluating the proposed Company Long Term Plan (RJPP), Corporate
Strategic Scenario (CSS), and Company Budget Work Plan (RKAP) submitted by the Board of Directors, evaluating the implementation
of RJPP, CSS, and RKAP, as well as conducting supervising the implementation of Telkom’s enterprise risk management and project
risk management.
Career Experiences
• 2021
• 2019 - 2021
• 2015 - 2018
Professional License and Certificate
• 2022 Certified Risk Professional (CRP) by Association of Indonesia Capital Market Professional.
• 2008
Member of Committee for Planning and Risk Evaluation and Monitoring.
Investment and Placement Committee, Badan Pengelola Keuangan Haji.
Director of Investment, PT Asanusa Asset Management.
Investment Manager Representative Certificate.
200
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
KEMPR’S INDEPENDENCE
In carrying out their duties during 2022, KEMPR members have acted independently and fulfilled the independence
aspects in accordance with the terms and conditions stated in Resolution of the Board of Commissioners No. 13/
KEP/DK/2021 dated November 29, 2021 regarding Guidelines for Implementation of Work (Charter) of Committee for
Planning and Risk Evaluation and Monitoring of PT Telekomunikasi Indonesia (Persero), Tbk.
KEMPR’S PERFORMANCE AND IMPLEMENTATION ACTIVITIES
Until the end of 2022, Telkom’s KEMPR has carried out various activities consisting of:
1. Company Long Term Plan (RJPP) and Corporate Strategic Scenario (CSS)
a. Focus on Monitoring Implementation of RJPP 2020-2024 and CSS 2022-2024
• Development of initiatives related to digital connectivity, digital platforms, and digital services.
• Strengthening the foundation and sharpening the strategy in implementing the Five Bold Moves initiative.
• Ensuring Company transformation and Subsidiary streaming programs are running according to plan.
b. Evaluation of 2023-2025 CSS Proposals
KEMPR’s focus in preparing the 2023-2025 CSS includes among others:
•
Increasing the effectiveness of the orchestration business portfolio within the scope of the TelkomGroup,
including digital business
• Development and improvement of the effectiveness of the Five Bold Moves initiative
•
Improved digital platform & service business performance.
2. Company Work Plan and Budget, as well as Capital Expenditures
a. Focus on Monitoring the Implementation of the 2022 RKAP and Capital Expenditures
• Accelerating the utilization of new business opportunities and improving performance during the COVID-19
pandemic.
• Program governance and effectiveness for subsidiaries, especially troubled subsidiaries.
•
Improved efficiency and capex contribution to company revenue and profitability.
b. Evaluation of the 2023 RKAP and Capital Expenditure Proposals
KEMPR’s focus in preparing the 2023 RKAP and capital expenditures includes:
•
•
•
Increasing IndiHome’s business competitiveness in each customer segment.
Improvement of enterprise business capabilities both at national and regional scope.
Increasing profitability, efficiency, and timeliness in deploying capex including ensuring anticipation and risk
mitigation of potential delays in deploying capex.
3. Company Risk Management (Enterprise Risk Management/ERM)
Based on monitoring of the Company’s risk profile, there are three things that receive attention, specifically:
a. Implementation of risk management both within the scope of the Company and on strategic projects.
b. Improving the quality of ERM implementation in Subsidiaries.
c. TelkomGroup’s compliance with BUMN Ministerial Regulation No. 5 of 2022 regarding Implementation of Risk
Management in SOEs.
4. Certain Actions of the Board of Directors that Require the Approval of the Board of Commissioners
During 2022 KEMPR has assisted the Board of Commissioners in reviewing strategic plan proposals submitted by
the Board of Directors, including the following projects:
a. Support for the Establishment of a New Joint Venture Subsidiary for SOE Digital Healthcare Ecosystem Initiative
Legal Entities (FitAja)
b. Strategic Fit Digico B2B Telkom
c. Changes in the Use of Phase-2 MDI500 Project Funds
d. Strategic Fit Project Fixed Mobile Convergence (FMC) Speed 2
e. Approval of the Statement of the Founder of the Telkom Pension Fund regarding Changes to the Telkom Pen-
sion Fund
f. Approval of the Release Commitment Budget Capex Phase II of the 2022 RKAP
g. Approval of the B2B and B2C Digital Business Management Strategy as KPI for Directors Individual Director of
Digital Business for 2022
h. Batam Data Center Initiative Strategic Fit Approval
i. Approval of Strategic Fit Project Infraco
j. Approval of Write-off of Uncollectible Accounts Receivable in 2022
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
KEMPR’S MEETING
During 2022, Telkom’s KEMPR has held 28 Committee Meetings. The following table presents information of the
attendance rate of KEMPR members during Committee Meetings in 2022.
COMMITTEE FOR PLANNING AND RISk EvALUATION AND MONITORING’S MEETING ATTENDANCE IN 2022
No.
Name
1.
2.
3.
4.
5.
6.
7.
8.
Ismail
Rizal Mallarangeng
Arya Mahendra Sinulingga
Bambang P.S. Brodjonegoro
Bono Daru Adji
Isa Rachmatarwata
Embun Prowanta
Siswa Rizali
Total of
Meetings
Total of
Attendance
Percentage of
Attendance %
28
28
28
28
28
28
28
28
28
26
27
28
26
28
28
28
100
92.86
96.43
100
92.86
100
100
100
KEMPR’S EDUCATION AND TRAINING
In 2022, Telkom has included KEMPR members to improve their competence, through education and/or training as
shown in the table below.
TRAINING AND EDUCATION ATTENDED By COMMITTEE FOR PLANNING
AND RISk EvALUATION AND MONITORING 2022
No.
1.
2.
Name
Name of Training
Date
Location
Siswa RIzali
Certified Risk Professional (CRP)
September 12-15, 2022
Jakarta (Virtual)
Embun Prowanta
Certificate in Sustainability for Finance October 22 – November
Jakarta (Virtual)
06, 2022
Remark:
*Education and Training of KEMPR members who are members of the Board of Commissioners can be seen in the Education and Training of the Board of
Commissioners.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE BOARD OF DIRECTORS
Based on Law No. 40 Year 2007 regarding Limited
Liability Companies, the Board of Directors is an organ of
the Company which is authorized and fully responsible to
Company’s management for the Company’s interest, in
accordance with the aims and objectives of the Company,
and represents the Company both inside and outside the
court in accordance with the provisions of the Articles of
Association and laws and regulations. Telkom’s Board of
Directors must comply with the Articles of Association
of the Company, Board of Directors’ Charter, and laws
and regulations and must implement the principles of
professionalism, efficiency, transparency, independence,
accountability, responsibility, and fairness.
BOARD OF DIRECTORS’
CHARTER
Telkom has a Charter or Board Charter for Directors called
the Board Manual. The Board Manual is set forth in the
Joint Regulation of the Board of Commissioners and
Directors of the Limited Liability Company (Persero) PT
Telekomunikasi Indonesia Tbk No.PD.620.00/r.00/HK200/
COP-M4000000/2022 dated 31 August 2022. The Broad
Manual is a guide for the Board of Directors in carrying
out their duties , responsibilities, and authorities. These
regulations contain guidelines and work procedures,
authorities, duties, responsibilities, obligations, division
of tasks, meetings, conflict of interest provisions, share
ownership, mechanism arrangements and division of
labor between members of the Board of Directors which
are not regulated in the Company’s articles of association
or statutory provisions. With the existence of the Board
of Directors Manual, it is hoped that the performance of
the Directors will be more directed and synergize with
one another.
BOARD OF DIRECTORS’
AUTHORITIES, DUTIES,
AND RESPONSIBILITIES
The management of the TelkomGroup is carried out
through the TelkomGroup Board of Executives (BoE),
which is coordinated by the Main Director of Telkom as
the Chief of Executive (CEO) of the TelkomGroup. The
main duties of the President Director are:
a. Coordinating the process of structuring and/or
reconstructing aspects of the Company’s philosophy
which includes but is not limited to the vision, mission,
goals, corporate culture, and leadership architecture;
b. Formulate and state the strategic direction in order to
condition the Company’s ability to achieve sustainable
competitive growth
in the entire TelkomGroup
business portfolio and risk control as well as interacting
with external constituents;
c. Controlling the strategic planning function within
the scope of the TelkomGroup and directing growth
efforts with a focus on new business portfolios;
d. Controlling the direction of the Company and
in driving new business,
well as
the
entering/developing new markets, as
internationalization/regionalization;
TelkomGroup
e. Controlling the management of strategic aspects of
the functions of finance and risk management, human
capital, digital business, and strategic portfolios in all
business portfolios carried out within the scope of the
TelkomGroup;
f. Leading the development process for TelkomGroup
leaders, as well as appointing and dismissing office
holders
in accordance with
stipulated career management regulations, as well as
coaching TelkomGroup leaders;
in certain positions
g. Periodically reporting the Company’s performance in
accordance with the provisions applicable to public
companies; and;
h. Establish policies and decisions related to the
management of the Company and the TelkomGroup
as referred to in letters a through g and other matters
that have not been formulated in the duties and
authorities of each member of the Board of Directors in
this regulation. In carrying out his duties, the President
Director is assisted by several Directors. The following
table is the duties and responsibilities of each Director
according to their field:
203
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk In carrying out his duties, the President Director is assisted by several Directors. The following table is the duties and
responsibilities of each Director according to their field:
Directorship
Duties and Responsibilities
Director of Consumer Service
1.
Director of Enterprise &
Business Services
Director of Wholesale &
International Services
2.
1.
2.
1.
2.
Director of Strategic Portfolio
1.
The Director of Consumer Service, hereinafter referred to as the Director of CONS, in
addition to his duties as a member of the Board of Directors, is responsible for business
strategy in the context of conditioning sustainable competitive growth through
winning competitions and growing the consumer segment business portfolio.
The CONS Director as a member of the Board of Executives is appointed as the
Consumer Business CEO whose job is to conduct the parenting strategy function
through strategic control, coordination, and subsidiary performance management
to create corporate value through optimizing and harmonizing interrelationships
between the Parent and all operating managing entities and CFU subsidiaries.
Consumer Business within the scope of the TelkomGroup.
The Enterprise & Business Service Director, hereinafter referred to as the EBIS Director,
in addition to his duties as a member of the Board of Directors, is responsible for
the business strategy to condition sustainable competitive growth through winning
competitions and growing the corporate segment business portfolio (enterprise,
government, and business).
The Director of EBIS as part of the Board of Executive members is appointed as the
CEO of Enterprise Business whose task is to carry out the parenting strategy function
through strategic control, coordination, and subsidiary performance management
to create corporate value through optimizing and harmonizing inter-relationships
between Parent and all operating entities managing CFU Enterprise Business within
the scope of the TelkomGroup.
The Director of Wholesale & International Service, hereinafter referred to as the
Director of WINS, in addition to his duties as a member of the Board of Directors,
is responsible for the business strategy in the context of conditioning sustainable
competitive growth through winning competitions and growing the wholesale &
international segment business portfolio.
The Director of WINS as part of the Board of Executive members was appointed as
the CEO of Wholesale & International Business whose job is to carry out the parenting
strategy function through strategic control, coordination, and subsidiary performance
management to create corporate value through optimizing and harmonizing
interrelationships between Parent and all entities managing CFU operations
Wholesale & International Business (WIB) within the scope of the TelkomGroup.
The Strategic Portfolio Director, hereinafter referred to as SP Director, in addition to his
duties as a member of the Board of Directors, is responsible for the availability of corporate
level strategy formulation, which includes directional strategy, portfolio strategy, and
parenting strategy as well as exploring new sources of growth for the growth of the
TelkomGroup's business portfolio through alliance & acquisition and synergy.
2.
The SP Director as part of the Board of Executive members is appointed as the Chief
Strategic Officer (CSO) whose job is to carry out parenting strategy and functional
strategy & business development in order to create corporate value through
optimization and harmonization of strategy & business development management
within the scope of the TelkomGroup.
Director of Digital Business
1.
The Director of Digital Business, hereinafter referred to as the Director of DB, in
addition to his duties as a member of the Board of Directors, is responsible for the
availability of an innovation strategy formulation to optimize the exploration of a
coherent digital service business within the scope of the TelkomGroup.
2.
The DB Director as part of the Board of Executive members was appointed as
the Chief Digital & Innovation Officer (CDIO) whose job is to carry out functional
digital business parenting strategies in order to create corporate value through
optimizing and harmonizing digital business management within the scope of the
TelkomGroup.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE Directorship
Director of Network & IT
Solutions
Director of Finance and
Management Risk
Director of Human Capital
Management
1.
2.
1.
2.
1.
2.
Duties and Responsibilities
The Network & IT Solution Director, hereinafter referred to as the NITS Director, in
addition to his duties as a member of the Board of Directors, is responsible for the
business strategy to leverage the Company's resource capabilities in order to grow/
enlarge/exploit established businesses/services through efficient use of infrastructure
and IT to synergistically support the TelkomGroup's business portfolio and to transform
network/IT infrastructure in the TelkomGroup to improve operational management
efficiency with priority on network investment and IT systems to accelerate digital
business growth.
The Director of NITS as part of the Board of Executive members is appointed as
the Chief Information Technology Officer (CITO) whose job is to carry out the
parenting strategy in order to increase the Company's value through optimizing
and harmonizing the functional management of NITS within the scope of the
TelkomGroup.
The Director of Finance and Risk Management, hereinafter referred to as the Director
of KMR, in addition to his duties as a member of the Board of Directors, is responsible
for the availability of directional strategy formulation, portfolio strategy and parenting
strategy, especially from the financial, supply and risk management aspects of the
Company to realize sustainable competitive growth in the scope of TelkomGroup.
The Director of KMR as part of the Board of Executive members is appointed as Chief
Financial & Risk Officer (CFRO) in charge of carrying out the TelkomGroup's financial
& risk management functional parenting strategy, including controlling asset
management and asset leverage by implementing strategic control, coordination,
and subsidiaries performance management in order to create corporate value
through optimizing and harmonizing interrelationships between the Parent and all
operating management entities and subsidiaries FU Finance & Risk Management.
The Director of Human Capital Management, hereinafter referred to as the Director
of HCM, in addition to his duties as a member of the Board of Directors, acts as a
strategic partner for the business lines and corporate functions of the TelkomGroup's
human capital management, supports business units and subsidiaries through the
development of a center of excellence for human capital management functions ,
providing guidance and policies in the implementation of strategic human capital
alignment and integration, as well as integrating the talent management system.
The Director of HCM as part of the Board of Executives was appointed as Chief Human
Capital Officer (CHCO) whose job is to carry out the functional parenting strategy of
human capital management within the scope of the TelkomGroup and manage the
supervision of the Pension Fund and the Telkom Foundation with the implementation
of strategic control, coordination and foundation performance management in order
to create Company value through optimizing and harmonizing the interrelationships
between the Parent and all operating entities managing the operations of HCM FU
Subsidiaries.
Furthermore, in the event of Company’s losses, each member of the Board of Directors is jointly and severally liable for
losses caused by errors or negligence in carrying out their duties. Members of the Board of Directors are not responsible
for the Company’s losses if they can prove it:
1. Such loss is not caused by their mistake or negligence;
2. They have performed actions in good faith, with full responsibility, and prudentially for the interest and based on the
purpose and objective of the Company;
3. They do not have an y conflict of interest either, directly or indirectly for the management activities causing the loss; and
4. They have taken the action to prevent the occurrence or continuation of such loss.
BASIS OF APPOINTMENT OF THE BOARD OF DIRECTORS
The mechanism of selecting and appointing members of Telkom’s Board of Directors is through the GMS. The main
and controlling shareholder of Telkom, namely the Government of Indonesia, represented by the Ministry of State-
Owned Enterprises (SOE). The appointment or election of the Board of Directors takes into account the competence
and expertise, integrity, and background required by the Company. The selected prospective members are confirmed
to have met the criteria and conditions specified in the fit and proper test.
205
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk EDUCATION, TRAINING, SEMINAR, AND CONGRESS
Throughout 2022, Telkom provides opportunities for members of the Board of Directors to attend education, training,
seminars, congresses, and other activities to develop their knowledge and skills. The following table presents the education
and/or training that members of the Board of Directors of Telkom have attended during the 2022 Financial Year.
EDUCATION, TRAINING, SEMINAR, AND CONGRESS OF MEMBER OF THE BOARD OF DIRECTORS IN 2022
No.
Occasion
Date
Institution
Location
Directors Who
Attended
Speaker at MNC Investor Forum
2022
Speaker at Musyawarah Provinsi
Asosiasi Pendidikan Tinggi
Informatika dan Komputer
Provinsi Jawa Barat. Revolusi
Metaverse
Digitalisasi Nusantara Expo &
Summit
March 15, 2022
MNC
Online
Dir SP
March 23, 2022
APTIKOM
Online
Dir SP
March 29-31, 2022
B20 Indonesia
Surakarta
President
Director, Dir DB
Speaker at Tempo Talkshow
June 21, 2022
July 14, 2022
Tempo
SBM ITB
Jakarta
Jakarta
Dir SP
Dir SP
July 26, 2022
LPPI
Online
Dir SP
Speaker at Inhouse Training PLN
(Discovering Strategic Alliances &
Managing Business Partnership)
Colloquium of Stabilitas Magazine
“Embracing the Next Level of
Digital Banking - Metaverse: A
Bold New World of Opportunities
and Challenges “
Global Human Capital Summit
August 25, 2022
B20 Indonesia
Jakarta
The Good Times Summit
September 8, 2022
F20 Indonesia
Jakarta
Speaker at the event of BATIC 2022
“Building the Indo-Pacific Digital
Connectivity Ecosystem”
September 21, 2022
TELIN
Bali
Dir DB
Dir DB
All BoD
BUMN Legal Summit 2022
September 22, 2022
Forum Hukum
BUMN
Bali
Dir SP
SOE International Conference
October 17, 2022
Ministry of SOE
Bali
Masters of Scale Summit
October 17-19, 2022
Masters of Scale
San Francisco,
USA
B20 Summit
November 13-14, 2022
B20 Indonesia
Bali
Dir SP
Dir DB
President
Director, Dir SP,
Dir DB
Governance, Risk & Compliance
(GRC) Masterclass
Speaker at the event of PROFIT in
CNBC: Theme: “Groundbreaking
Neutra DC Hyperscale and
Telkom’s Business Projection in
2023”
December 8, 2022
McKinsey
Jakarta
All BoE
December 28, 2022
CNBC
Jakarta
-
1.
2.
3.
4.
5.
6.
7.
8.
9.
10
11,
12.
13.
14.
15.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE BOARD OF DIRECTORS’ DIVERSITY
Telkom upholds equality of Human Rights (HAM) as stated in Law No. 39 Year 1999 regarding Human Rights. Therefore,
Telkom’s main Shareholders and controllers guarantee there is no discrimination in the election and appointment of the
Board of Directors even though it is not contained in a special human rights policy. Each member of the Board of Directors
elected are professionals who have expertise, skills, and good integrity following Telkom’s needs in the digital era.
The results of the 2022 AGMS determined nine members of the Board of Directors, one of whom is a woman. The
decision was taken based on the results of the selection and was not an attempt to discriminate against women in
determining the position of Telkom’s Board of Directors.
BOARD OF DIRECTORS’ DIvERSITy AS OF DECEMBER 31, 2022
No.
Name
Position
Gender
Background of Expertise
& Skill
Level of Education
1.
2.
3.
4.
5.
6.
7.
8.
Ririek Adriansyah
President Director
Male
Electrical Engineering
Bachelor
Heri Supriadi
Director of FRM
Male
Business Management
FM Venusiana R.
Director of CONS
Female
Herlan Wijanarko
Director of NITS
Male
Muhamad Fajrin Rasyid Director of DB
Budi Setyawan Wijaya
Director of SP
Male
Male
Afriwandi
Director of HCM
Male
Bogi Witjaksono
Director of WINS
Male
Electrical Engineering and
Management
Electrical Engineering and
Management
Informatics Engineering
Industrial Engineering and
Management
Industrial Engineering and
Management
Electrical Engineering and
Telecommunication
Engineering
Doctoral
Master
Master
Bachelor
Master
Master
Master
Remarks:
FRM Finance & Risk Management, CONS Consumer Service, EBIS Enterprise & Business Service, NITS Network & IT Solution, WINS Wholesale & International
Service, HCM Human Capital Management, DB Digital Business, SP Strategic Portfolio.
Composition Diversity of Board of
Directors Gender
Composition Diversity of Board of Directors
Educational Level
Male
87.5%
Master
63%
Female
12.5%
Doctoral
13%
Bachelor
25%
207
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk BOARD OF DIRECTORS’ DOUBLE POSITION
During 2022, there are members of the Board of Directors of Telkom who hold double positions, both at Telkom as the
Parent Company, Subsidiaries, or other Entities. The following table provides information on members of the Board of
Directors who have double positions.
BOARD OF DIRECTORS’ DOUBLE POSITION AS OF DECEMBER 31, 2022
No.
Name
1.
2.
Ririek Adriansyah
Heri Supriadi
3.
FM Venusiana R.
Telkom
Position
Other Position
Subsidiaries
President
Director
Director of
FRM
Director of
CONS
None
None
President
Commissioner
Commissioner
a.
b.
PT Graha Sarana Duta
(Telkom Property)
PT Telekomunikasi
Selular (Telkomsel)
President
Commissioner
President
Commissioner
a.
PT Telkom Akses
None
b.
PT PINS Indonesia
Other
Entities
None
None
None
None
President
Commissioner
President
Commissioner
Commissioner
President
Commissioner
President
Commissioner
President
Commissioner
President
Commissioner
a.
PT Metranet
b.
PT MDI
c.
a.
b.
c.
PT Sigma Cipta Caraka
PT Sigma Cipta Caraka
PT Jalin Pembayaran
Nusantara
None
PT Multimedia
Nusantara
a.
Infomedia
None
6.
Budi Setyawan Wijaya
Director of SP
7.
Afriwandi
Director of
HCM
4.
5.
Herlan Wijanarko
Director of
NITS
President
Commissioner
a.
PT Dayamitra
Telekomunikasi
Muhamad Fajrin Rasyid
Dire ctor of DB
8.
Bogi Witjaksono
Director of
WINS
President
Commissioner
a.
PT Telekomunikasi
Indonesia Internasional
None
Chairman of the
Supervisory Board
b.
Dana Pensiun Telkom
President
Commissioner
b.
PT Telkom Satelit
President
Commissioner
c.
PT Telkom Data
Ekosistem
President
Commissioner
d.
PT Telkom Infra
Remarks:
FRM Finance & Risk Management, CONS Consumer Service, EBIS Enterprise & Business Service, NITS Network & IT Solution, WINS Wholesale & International
Service, HCM Human Capital Management, DB Digital Business, SP Strategic Portfolio.
208
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE BOARD OF DIRECTORS’ SELF ASSESSMENT POLICY
The Board of Directors has a self-assessment policy to assess the performance of the Board of Directors, in accordance
with the Joint Regulation of the Board of Commissioners and the Board of Directors No. 08/KEP/DK/2020 and
PD.620.00/r.00/HK200/COP-M4000000/2020 regarding Guidelines for Work Procedures of the Board of Commissioners
and Directors (Board Manual) of the Company (Persero) PT Telekomunikasi Indonesia, Tbk. These guidelines are used
by Telkom as a form of accountability for collegially assessing the performance of the Board of Directors. Each member
of the Board of Directors assesses the performance of the Board of Directors collegially, which means not assessing
the individual performance of each member of the Board of Directors. With this self-assessment, it is hoped that
each member of the Board of Directors can contribute to improving the performance of the Board of Directors on an
ongoing basis. More complete information regarding the Board of Directors’ self-assessment policy can be accessed
through the Telkom Board Manual which is found on the menu on the Telkom website.
BOARD OF DIRECTORS’ COLLEGIATE ASSESSMENT
No.
kPI
Unit
Target
Polarity
Point
A. Economic and Social value for Indonesia
1.
Profitability Expansion
a.
b.
c.
EBITDA
Cash Flow from Operation (CFO)
Income for the year
ROIC with long term rate ROIC ≥ WACC
Interest Bearing Debt to Equity in the range of
investment grade rated companies
Interest Bearing Debt to EBITDA in the range of
investment grade rated companies
Consumer Operational
a.
Home-served/Home-passed
New Corporate Structure (incl: InfraCo,
PlatformCo, DigiCo)
T Rp
T Rp
T Rp
%
X
X
%
%
74.3
68.9
21.2
100
0.55
Maximize
Maximize
Maximize
Maximize
Minimize
0.7
Minimize
44
100
Maximize
Maximize
Development of digital platform for handling the
COVID-19 pandemic
Time
March 2021 Minimize
B. Business Model Innovation
1.
2.
3.
Penetration of Bundling Product Fixed & Mobile
TelkomGroup
B2B IT/Digital External Revenue
B2C Digital Services (non-connectivity) External
Revenue
C. Technology Leadership
Project Milestone Completion for Planned 5G
Initiative
KSSL
480
Maximize
T Rp
T Rp
Time
11.71
9.72
Maximize
Maximize
December
2021
Minimize
Mobile Data Revenue Share
%
49
Maximize
2.
3.
4.
5.
6.
7.
1.
2.
6
6
5
5
4
4
5
5
5
5
5
5
6
9
209
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No.
kPI
Unit
Target
Polarity
Point
D. Investment Increase
1.
Telkom Digital Venture:
a.
Telkom Venture Fund Value
T Rp
b. Money Multiplier
2.
% Subsidiaries with ROIC > WACC Telkom
E. Talent Development
% Woman in Nominated Talent
% Millenial (< 40 tahun) in Top Talent
Digital Talent Readiness (Build)
Project milestone ITDRI
1.
2.
3.
4.
Total
X
%
%
%
Total
Time
BOARD OF DIRECTORS’ MEETING
6
1.5
50
15
3
Maximize
Maximize
Maximize
Maximize
Maximize
632
Maximize
December
2021
Minimize
5
5
5
2
2
4
2
100
Based on the Company’s Articles of Association, Telkom’s Board of Directors has a stipulation to hold an internal
meeting once a month, but may hold other meetings at any time. Meanwhile, joint meetings between the Board of
Directors and the Board of Commissioners are held at least once in 4 months.
In meeting, a quorum is reached when more than half of the members of the Board of Directors are present or legally
represented at the meeting. Each member of the Board of Directors who is present or legally represented has one
vote. The decision making mechanism at the Board of Directors meeting is based on deliberation to reach consensus.
If consensus is not reached, then decision making will be carried out based on the majority vote of the members of
the Board of Directors who are present.
In 2022, Telkom Board of Directors held 54 meetings. The following table explains the frequency of attendance of the
Board of Directors’ meetings during the 2022 reporting period.
BOARD OF DIRECTORS’ ATTENDANCE AND AGENDA AT INTERNAL MEETINGS
No.
Date
1.
January 4, 2022
1.
2.
Operational Performance Report & Revenue W4 December 2021
Report of Limited Meetings Agenda
Meeting’s Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
2.
January 11, 2022
Attendance List
3.
January 18, 2022
1.
2.
1.
2.
3.
Operational Performance Report, Revenue & SI Program Action Based YtD
December 2021 (Outlook)
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
Report of Director Meeting’s Format 2022
Report of Corporate Theme 2022 TelkomGroup
Operational Performance Report & Revenue W2 January 2022
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
210
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
No.
4.
Date
January 20, 2022
Meeting’s Agenda
1.
2.
3.
Report of Company Performance YtD December 2021
BOC concern material that is reported regularly
Additional concerns that need to be reported
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
5.
January 25, 2022
1.
2.
3.
4.
Operational Performance Report and Revenue YtD December (Closing) 2021 and
W3 January 2022
Report of Director Meeting’s Format 2022
Report of Gerakan PeduliInfrastruktur
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
6.
February 2, 2022
Attendance List
7.
February 8, 2022
Attendance List
8.
February 15, 2022
Attendance List
9.
February 22, 2022
1.
2.
3.
1.
2.
1.
2.
3.
1.
2.
Operational Performance Report & Revenue W4 January 2022
Report of STO’s Naming
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
Operational Performance Report, Revenue & SI Program Action Based YtD January
2022 (Outlook)
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
Operational Performance Report & Revenue W2 February 2022
Report of Five Bold Moves Program
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
-
-
-
Operational Performance Report and Revenue YtD January (Closing) 2022 and W3
February 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
10.
March 1, 2022
1.
2.
Operational Performance Report & Revenue W4 February 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
11.
March 08, 2022
1.
2.
3.
4.
Operational Performance Report, Revenue & SI Program Action Based YtD February
2022 (Outlook)
Report of Product Plan 2022
Kickoff Quality Control (QC) PSB IndiHome
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
12.
March 15, 2022
1.
2.
3.
Operational Performance Report & Revenue W2 March 2022
Report of Five Bold Moves: Report of Fixed-mobile Convergence (FMC) Program
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
-
√
√
√
√
√
211
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No.
13.
Date
March 22, 2022
Meeting’s Agenda
1.
2.
Operational Performance Report and Revenue YtD February (Closing) 2022 and W3
March 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
14.
March 29, 2022
1.
2.
Operational Performance Report & Revenue W4 March 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
-
15.
April 5, 2022
Attendance List
16.
April 12, 2022
1.
2.
3.
4.
1.
2.
3.
4.
Report of Follow up on the Direction of the President of the Republic of Indonesia
regarding Increasing Use of Domestic Products
Report of Limited Meetings Agenda
Report of TelkomGroup Safari Ramadhan Readiness (including an update on the
SOE Minister’s Safari Ramadhan readiness)
Operational Performance Report, Revenue & SI Program Action Based YtD March
2022 (Outlook)
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
Report of Limited Meetings Agenda
Operational Performance Report & Revenue W1 April 2022
Report of Redefining IT Transformation (Progress of audiences IT pain point program
at CFU-FU)
Report of House Style Gedung Telkom
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
17.
April 14, 2022
1.
2.
Report of Management YtD March 2022
BoC Concern Joint Meetings Performance YtD March 2022
Attendance List
RA
√
AW
-
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
-
-
-
-
√
18.
April 19, 2022
Attendance List
19.
May 10, 2022
Attendance List
20.
May 18, 2022
1.
2.
3.
1.
2.
3.
1.
2.
3.
Operational Performance Report & Revenue W2 April 2022
Update Earning Call FY Material 2021
Report of Limited Meetings Agenda
RA
-
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
-
√
Operational Performance Report, Revenue & SI Program Action Based YtD April
2022 (Outlook)
Report of Update the Readiness of IKN’s Satgas
Report of Limited Meetings Agenda
RA
√
AW
-
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
-
Kick Off Satgas Increased Use of Domestic Products (P3DN) 2022
Report of Limited Meetings Agenda
Operational Performance Report & Revenue W2 May 2022
Attendance List
RA
√
AW
√
HS
-
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
-
√
21.
May 20, 2022
1. Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
212
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No.
22.
Date
May 24, 2022
1.
2.
Operational Performance Report and Revenue YtD April (Closing) and W3 May 2022
Report of Limited Meetings Agenda
Meeting’s Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
23.
May 31, 2022
Attendance List
24.
June 7, 2022
1.
2.
3.
1.
2.
3.
Operational Performance Report & Revenue W4 May 2022
Update always on backbone national: Design & Capacity
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
Operational Performance Report, Revenue & SI Program Action Based YtD May 2022
(Outlook)
Report of Readiness of Celebrate 57th Telkom’s Anniversary
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
25.
June 14, 2022
1.
2.
Operational Performance Report & Revenue W4 December 2021
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
-
√
-
√
√
26.
June 21, 2022
Attendance List
27.
June 28, 2022
Attendance List
28.
July 5, 2022
Attendance List
29.
July 19, 2022
1.
2.
3.
4.
5.
1.
2.
3.
4.
5.
1.
2.
3.
1.
2.
3.
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Operational Performance Report and Revenue YtD May (Closing) 2022 and W2 June
2022
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
√
√
√
√
Operational Performance Report & Revenue W3 June 2022
Kick Off Satgas INDI 4.0 TelkomGroup
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
√
-
√
√
√
Operational Performance Report, Revenue & SI Program Action Based YtD June
2022 (Outlook)
Kick Off Satgas Telkom Organization Post 5 Bold Moves
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
Operational Performance Report & Revenue W2 July 2022
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
30.
July 22, 2022
1. Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
213
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No.
31.
Date
July 26, 2022
Meeting’s Agenda
1.
2.
3.
Operational Performance Report & Revenue YtD June (Closing) and W3 July 2022
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
32.
August 2, 2022
1.
2.
Report of Limited Meetings Agenda
Operational Performance Report & Revenue W4 July 2022
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
33.
August 16, 2022
Attendance List
34.
August 23, 2022
1.
2.
3.
4.
1.
2.
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Operational Performance Report & Revenue W2 August 2022
RA
√
AW
√
HS
-
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
Report of Limited Meetings Agenda
Operational Performance Report and Revenue YtD July (Closing) 2022 and W3
August 2022
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
-
35.
August 24, 2022
1.
2.
3.
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
36.
August 30, 2022
1.
2.
Operational Performance Report & Revenue W4 August 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
37.
September 7, 2022
1.
2.
Operational Performance Report, Revenue & SI Program Action Based YtD August
2022 (Outlook)
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
38.
September 13, 2022
1.
2.
Operational Performance Report & Revenue W1 September 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
39.
September 20, 2022
1.
2.
3.
Operational Performance Report & Revenue W2 September 2022
Report of Program Non-5 Bold Moves: Regional Empowerment Office (REO)
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
40.
September 23, 2022
1.
2.
3.
4.
Report of Company Performance YtD August 2022
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Plan of Spectrum Auction 2100 MHz
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
214
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No.
41.
Date
September 27, 2022
Attendance List
42.
October 4, 2022
Attendance List
43.
October 11, 2022
Meeting’s Agenda
Operational Performance Report and Revenue YtD August (Closing) 2022 and W3
September 2022
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
Operational Performance Report & Revenue W4 September 2022
Report of Progress Mitigation Fraud IndiHome
Report of Limited Meetings Agenda
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
Operational Performance Report, Revenue & SI Program Action Based YtD
September 2022 (Outlook)
Report of Limited Meetings Agenda
1.
2.
3.
1.
2.
3.
1.
2.
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
44.
October 19, 2022
1.
2.
3.
4.
5.
Operational Performance Report & Revenue W2 October 2022
Report of Roadmap Management of Digital B2B & B2C TelkomGroup
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
-
√
√
45.
November 1, 2022
1.
2.
Operational Performance Report & Revenue W4 October 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
46.
November 08, 2022
1.
2.
3.
Operational Performance Report, Revenue & SI Program Action Based YtD October
2022 (Outlook)
Report of National Appreciation of Innovation
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
-
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
-
√
47.
November 15, 2022
1.
2.
Operational Performance Report & Revenue W2 November 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
48.
November 22, 2022
1. Operational Performance Report and Revenue YtD October (Closing) 2022 and W3
Attendance List
49.
November 23, 2022
November 2022
RA
-
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
1.
2.
3.
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
50.
November 29, 2022
1.
2.
Report of Limited Meetings Agenda
Operational Performance Report & Revenue W4 November 2022
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
215
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk No.
51.
Date
December 6, 2022
Meeting’s Agenda
1.
2.
3.
Report of Limited Meetings Agenda
Report of Digital Group Strategic Orchestration (DGSO)
Operational Performance Report, Revenue & SI Program Action Based YtD
November 2022 (Outlook)
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
52.
December 13, 2022
1.
2.
Operational Performance Report & Revenue W1 December 2022
Report of Limited Meetings Agenda
Attendance List
RA
√
AW
√
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
53
December 20, 2022
1.
2.
3.
Report of Limited Meetings Agenda
Report of Limited Meetings Agenda
Operational Performance Report and Revenue YtD November (Closing) 2022 and
W2 December 2022
Attendance List
RA
√
AW
-
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
√
N/A
√
√
√
√
54
December 28, 2022
1.
2.
3.
4.
Report of Limited Meetings Agenda
Report of System Integration Design (FIONA-Anaplan)
Report of Masterplan IT & Maturity level IT
Operational Performance Report & Revenue W3 December 2022
Attendance List
RA
-
AW
-
HS
√
FMv
EW(1)
HW
MFR
BSW
BW
-
N/A
√
√
-
√
Remarks:
1. Has been out of position since July 8, 2022
RA
DR
Ririek Adriansyah
HW Herlan Wijanarko
FMv FM Venusiana R.
BSW Budi Setyawan Wijaya
HS
Heri Supriadi
Dian Rachmawan
MFR Muhamad Fajrin Rasyid
EW Edi Witjara
BW Bogi Witjaksono
AW Afriwandi
BOARD OF DIRECTORS’ ATTENDANCE AT JOINT MEETINGS
No.
Name
Position
Total of Meetings
Total of
Attendance
Percentage of
Attendance
%
1.
2.
3.
4.
5.
6.
7.
8.
9.
Ririek Adriansyah
President Director
Heri Supriadi
Director of FMR
FM Venusiana R
Director of CONS
& Acting Director
of EBIS
Herlan Wijanarko
Director of NITS
Muhamad Fajrin Rasyid
Director of DB
Budi Setyawan Wijaya
Director of SP
Edi Witjara
Afriwandi
Director of EBIS1
Director of HCM
Bogi Witjaksono
Director of WINS
Remark:
1. Has been out of position since 8 July 2022
54
54
54
54
54
54
27
54
54
51
51
52
52
50
48
25
51
50
94
94
96
96
93
89
93
94
93
The position of EBIS Director is filled by appointing Ms. FM Venusiana R as Acting Director of EBIS in addition to her position as Director of Consumer
Service
216
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
CORPORATE SECRETARY
Telkom has a Corporate Secretary/Investor Relations
function which facilitates the internal communication of
the Board of Directors and the Board of Commissioners,
in accordance with POJK No. 35/POJK.04/2014 regarding
Corporate Secretary of Issuers or Public Companies. In
terms of external communication, Corporate Secretary/
Investor Relations role
is to establish relationships
between the Company and Stakeholders, especially
the Government, Shareholders, and Financial Services
Authority (OJK) and provide information about the
company. In addition, from a compliance perspective,
Corporate Secretary/Investor Relations has an important
role in ensuring that Telkom complies with laws and
regulations related to the Capital Market, so that the
company’s business processes can run properly and
comply with the provisions.
CORPORATE SECRETARY’S
DUTY AND RESPONSIBILITY
The Corporate Secretary has the following duties and
responsibilities:
1. Preparing and organizing GMS, including the material,
particularly the Annual Report;
2. Attending the Board of Directors’ Meetings and Joint
Meetings between the Board of Commissioners and
Board of Directors;
3. Managing and maintaining documents related to the
Company’s activities, including the GMS’s documents
and other important documents of the Company; and
types and
contents of information that can be presented to
the Stakeholders, including information that can be
published as public documents.
4. Determining criteria
regarding
the
CORPORATE SECRETARY’S
FUNCTIONS
The functions of Corporate Secretary include:
1. To prepare and communicate accurate, complete, and
timely information regarding the performance and
prospect of the Company to Stakeholders.
2. To synergize with related units,
subsidiaries,
for
monitoring and
implementation.
socialization,
reviewing of GCG, and
including the
implementation,
its
3. To assist the Board of Directors in various activities,
information, and documentation, among others:
a. Preparing the Register Book of Shareholders;
b. Attending the Board of Directors’ meetings and
preparing its minutes of meetings; and
c. Preparing and organizing GMS.
4. To publish the company’s information in a tactical,
strategic, and timely manner.
217
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk CORPORATE SECRETARY’S PROFILE
EDWIN JULIANUS
SEBAyANG
Age
53 years old
Nationality
Indonesian
Domicile
Jakarta, Indonesia
Education
•
1996 Master Of Business Administration, University of
Exeter, United Kingdom.
•
1993 Bachelor of Economic, University of Kristen Satya
Wacana.
Basis of Appointment
Decision Letter of the Board of Directors.
Term of Service
Start from January 1st 2023 up to present.
Career Experiences
•
•
2021-2022
2010-2020
Director of PT MNC Asset Management.
Head of Research PT MNC Sekuritas.
218
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
CORPORATE SECRETARY’S IMPLEMENTATION TASKS
Until the end of 2022, Corporate Secretary of Telkom has organized activities as presented in the following table.
CORPORATE SECRETARy’S IMPLEMENTATION ACTIvITIES IN 2022
No.
Date
Name of Activities
Organizer
Location
January 5-6, 2022
13th Credit Suisse ASEAN Conference
Credit Suisse
January 12, 2022
DBS Pulse of Asia 2022
DBS
January 13, 2022
Nomura Virtual Indonesia Corporate Day
Nomura
February 10, 2022
Mandiri Investment Forum 2022
Mandiri Sekuritas
March 4, 2022
Nomura ASEAN Conference
April 21-22, 2022
Macquarie Indonesia Day
Nomura
Macquarie
Online
Online
Online
Online
Online
Online
May 12, 2022
May 16, 2022
Investor Day with SOE – Abu Dhabi
Mandiri Sekuritas
Abu Dhabi
Investor Day with SOE – Paris
Mandiri Sekuritas
May 18-19, 2022
Investor Day with SOE – London
Mandiri Sekuritas
June 8, 2022
UBS OneASEAN Conference 2022
June 10, 2022
12.
June 29, 2022
13.
June 30, 2022
CITI 3rd Pan-Asia Regional Investor
Conference
UOB Kay Hian Virtual Shariah Gems
Conference 2022
UBS
CITI
UOB
Morgan Stanley Virtual ASEAN Conference
2022
Morgan Stanley
Online
14.
August 11-12, 2022
CGS-CIMB 14th Annual Indonesia
Conference 2022
CGS-CIMB
Bali
September 5-6, 2022
JPMorgan ASEAN CEO-CFO Forum 2022
JPMorgan
September 8-9 ,2022
JPMorgan ASEAN CEO-CFO Forum 2022
JPMorgan
September 14-15, 2022
29th Annual CITIC CLSA Flagship Investors’
Forum 2022
CLSA
London
New York
Online
October 6, 2022
IDX-Daiwa-Bahana Best of Indonesia 2022
IDX-Daiwa
Singapore
October 12, 2022
Investor Day with Macquarie
Macquarie
Paris
London
Online
Singapore
Online
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
15.
16.
17.
18.
19.
20.
November 7-8, 2022
21.
November 9, 2022
22.
November 10, 2022
NDR SOE with Mandiri Sekuritas and
Jeffriess - New York
NDR SOE with Mandiri Sekuritas and
Jeffriess – Boston
NDR SOE with Mandiri Sekuritas and
Jeffriess – San Fransisco
Mandiri Sekuritas
New York
Mandiri Sekuritas
Boston
Mandiri Sekuritas
San Fransisco
23.
November 23-24, 2022
Investor Day with CLSA
CLSA
Hong Kong
219
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk CORPORATE SECRETARY’S TRAINING AND EDUCATION
In 2022, Telkom will provide training for Investor Relations Unit to develop the competence of Corporate Secretary/
Investor Relations. Some of the education and training provided by Telkom during 2022 are as follows.
TRAINING AND EDUCATION ATTENDED By CORPORATE SECRETARy/INvESTOR RELATIONS IN 2022
No.
1.
Date
Name of Activities
Organizer
May 17, 2022
Training Good Corporate Governance (GCG).
Training ASEAN Corporate Governance
Scorecard (ACGS)
Telkom Corpu
Location
Online
2.
May 31, 2022
3.
June 16, 2022
4.
June 24, 2022
5.
June 28, 2022
Seminar Master Class: “Reporting Gender
Equality and Employment Practices for
Sustainability and Annual Report”
Virtual demos with Q&A webinar, for the
user about Toppan Merrill Bridge launching
a new Fillings & Versions Apps
Dissemination of Information Changes in
Report Format E009 - Monthly Report on
Registration of Securities Holders/Changes
in Shareholder Structure
Webinar with topic “ASEAN Corporate
Governance Scorecard (ACGS) – Journey to
ASEAN Asset Class”
IDX, GRI, & IBCWE
Online
Toppan Merrill
Online
ICSA & IDX
Online
RSM Indonesia
Online
6.
7.
8.
August 29, 2022
Webinar New Accounting Standards (IFRS
& PSAK) & Sustainability Reporting Update
Deloitte
November 5, 12, 19, 26,
2022
Standar Profesi Sekretaris Perusahaan
Pendidikan Dasar II
ICSA
November 30, 2022
Consultative Workshop To Scale Up Green
Finance In Indonesia
OJK, IDX, ADB, &
UNDP
Online
Online
Jakarta
220
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE INTERNAL AUDIT DEPARTMENT
Internal Audit Department (IA) is a part of TelkomGroup
whose function
independent and
is to provide an
objective view of Company’s business activities and helps
the TelkomGroup achieve its goals through a systematic
and disciplined approach in evaluating and improving
the effectiveness of risk management, control, and
implementation of GCG. Internal Audit Department is
also expected to add value and improve the effectiveness
and efficiency of Company’s business operations.
INTERNAL AUDIT CHARTER
Telkom has an IA Charter as stated in Resolution of
the Board of Directors Number SK.13/PW000/TEL-
00000000/2021 dated May 18, 2021 regarding Internal
Audit Charter, and has been approved by President
Director, President Commissioner, and Chairman of Audit
Committee. This charter is guided by the international
standards of the Institute of Internal Auditors (IIA). IA
Charter contains references and guidelines for IA in
carrying out the functions and roles of carrying out
internal audit activities in the company, in the form of
vision, mission, structure, status, duties, responsibilities
and authorities of
internal auditor
requirements.
IA, as well as
INTERNAL AUDIT
DEPARTMENT’S DUTIES
AND RESPONSIBILITIES
Duties and responsibilities of IA Telkom, based on Internal
Audit Charter, are :
1. To prepare work plans and annual risk-based audit
programs in line with the direction and development
of the company’s business and carry out work plans
and audit programs that have been approved by the
Audit Committee and approved by the President
Director;
2. To help the Company to ensure that
internal
controls and risk management systems have been
implemented effectively and efficiently about:
i. financial reporting to produce information that is
free from material misstatement and by applicable
standards and regulations;
ii. operational controls to ensure that management
objectives are achieved appropriately;
iii. asset management has been carried out
appropriately to protect assets from physical and
legal risks and ensure optimal use of assets;
iv. ensure that the Company’s activities comply with
the applicable laws and regulations.
3. To monitor, analyze, and
report on
follow-up
improvements that have been recommended;
4. To develop evaluation methods and quality
improvement programs for the activities and results
of the Internal Audit in collaboration with the Audit
Committee;
5. To provide consultancy needed by the Company,
Subsidiaries, Affiliated Companies, and Other Entities
following the agreed scope of internal audit;
6. To perform audit synergies with units that carry out
the internal audit function in Subsidiaries, Affiliated
Companies, and Other Entities;
7. Follow up on reports of whistle-blowers coming
through the Telkom Integrity Line regarding alleged
fraud in the Company, Subsidiaries, and other Affiliated
Entities, and submit reports to the Audit Committee
and President Director.
221
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk SVP INTERNAL AUDIT DEPARTMENT’S PROFILE
DARU MULyAWAN
Age
51 years old
Nationality
Indonesian
Domicile
South Tangerang, Indonesia
Educations
•
1991 - 1996
Bachelor Degree of Accounting in
Universitas Diponegoro.
Basis of Appointment
Resolution of the Board of Directors of the Limited Liability
Company (Persero) PT Telekomunikasi Indonesia Tbk
Number SK 981/PS720/HCB-105/2022 dated June 30, 2022
regarding Assignment of Employee Exchange Employees as
SVP of Internal Audit.
Term of Office
July 1, 2022 – June 30, 2024.
Carreer Experiences
•
•
•
July 2022 – present
January 2020 – June 2022 SVP Internal Audit Telkomsel.
July – December 2019
SVP Internal Audit Telkom.
•
July 2016 – June 2019
•
July 2013 – June 2016
VP Risk Management
Telkomsel.
SVP Enterprise Resource
Planning Telkomsel.
VP Accounting and Asset
Management Telkomsel.
•
January 2012 – June 2013 GM Financial Accounting
Policy and System Telkomsel.
222
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
INTERNAL AUDIT DEPARTMENT’S STRUCTURE AND POSITION
Telkom’s Internal Audit (IA) reports directly to President Director. This unit is headed by Senior Vice President of Internal
Audit (SVP IA) who is appointed and dismissed by President Director with approval of the Board of Commissioners. As
of the end of 2022, IA Telkom consists of 92 employees.
If SVP IA does not meet the requirements and/or fails or is unable to carry out its duties, the President Director may
terminate SVP IA with the approval of the Board of Commissioners. This is in line with Financial Service Authority
Regulation No. 56/POJK.04/2015 regarding “Formation and Guidelines for the Preparation of Internal Audit Department
Charter”. Until the end of 2022, Telkom IA organizational structure can be seen below.
SvP INTERNAL
AUDIT
vP PLANNING &
DEvELOPMENT
AUDIT
vP INFRASTRUCTURE
& OPERATION AUDIT
vP INFORMATION
TECHNOLOGy AUDIT
vP INTEGRATED &
FINANCIAL AUDIT
AVP AUDIT
PARTNER 1
AVP QUALITY
ASSURANCE
& SYSTEM
DEVELOPMENT
AVP QUALITY
INFRASTRUCTURE
& SUPPLY AUDIT
AVP APPLICATION
TRANSACTION
AUDIT
AVP ICOFR & RISK
MANAGEMENT
AUDIT
AVP AUDIT
PARTNER 2
AVP RESOURCE &
ADMINISTRATION
AVP SERVICE
OPERATION
& SUPPORT
AUDIT
AVP AUDIT
PARTNER 3
POOL OF
AUDITOR
AVP SERVICE
DELIVERY AUDIT
AVP INFORMATION
SYSTEM
OPERATION AUDIT
AVP
INFORMATION
SECURITY AUDIT
AVP FINANCIAL
& ASSET
MANAGEMENT
AUDIT
AVP A&A
COMPLIANCE
AUDIT
INTERNAL AUDIT DEPARTMENT’S TASK IMPLEMENTATION
Every year, IA Telkom makes a work plan as outlined in Program Kerja Audit Tahunan (PKAT) or Annual Audit Work
Program and Program Kerja Non Audit Tahunan (PKNAT) or Annual Non-Audit Work Program, which are approved
by Audit Committee and President Director. In 2022 financial year, IA Telkom has carried out 68 assignments outside
of PKNAT, which include audit, consultation, evaluation, and review activities. The description of IA Telkom activities
are as follow:
Sub Department
Audit
Consultation
Evaluation
Review
Total
Infrastructure & Operation Audit
(IOA)
Integrated & Financial Audit (IFA)
Information & Technology Audit
(ITA)
Total
8
7
9
24
8
4
10
22
-
5
1
6
7
9
-
16
23
25
20
68
223
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk INTERNAL AUDIT’S QUALIFICATION
AND PROFESSIONAL CERTIFICATION
Telkom’s Internal Audit Division Employees need to have certain certifications in order to carry out standardized work
and so the quality of internal control can run well. At the end of 2022, certifications held by Telkom’s Internal Audit
Division Employees are presented in the table below.
No.
Certification Type
Number of Certification
Asian Chartered Professional Accountant (ACPA)
Chartered Accountant (CA)
Certification in Audit Committee Practice (CACP)
Cisco Certified Network Associate (CCNA)
Cisco Certified Network Professional (CCNP)
Certified Data Center Professional (CDCP)
Certified Data Center Specialist (CDCS)
Certified Data Privacy Solution Engineer (CDPSE)
Certified Ethical Hacker (CEH)
Certified Enterprise Risk Governance (CERG)
Certified Financial Consultant (CFC)
Certified Fraud Examiner (CFE)
Certified Forensic Auditor (CFrA)
Certified Internal Auditor (CIA)
Certification of Internal Audit Executive (CIAE)
Certified Internal Audit Leader (CIAL)
Certified International Procurement Professional (CIPP)
Certified Information Systems Auditor (CISA)
Certified Chief Information Security Officer (CISO)
Certified Information Systems Security Professional (CISSP)
Certified IT Infrastructure Library (ITIL) – IT Intermediate Examination
Service Strategy
Certified IT Infrastructure Library (ITIL) – IT Intermediate Examination
Service Transition
Certified IT Infrastructure Library (ITIL) – IT Service Management
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
Certified Professional Marketer (CPM)
Certified Policy Management Professional (CPMP)
Certified Risk Associate (CRA)
Certified Risk Governance Professional (CRGP)
Certification in Risk Management Assurance (CRMA)
Certified Risk Management Officer (CRMO)
Certified Risk Management Professional (CRMP)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
224
2
9
3
4
2
2
2
1
6
1
1
3
1
3
3
1
1
3
1
1
1
1
2
1
1
2
1
2
1
2
10
1
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
Total
Certification Type
Number of Certification
Certified Risk Professional (CRP)
Certified Securities Analyst (CSA)
Certified Scrum Product Owner (CSPO)
Certified Governance, Risk Management and Compliance Auditor (GRCA)
Certified Governance, Risk Management and Compliance Professional (GRCP)
Certified in International Financial Reporting Standard (IFRS)
ISO 20000: 2018 ITSMS – Auditor/ Lead Auditor
ISO 27001: 2013 ISMS – Auditor/ Lead Auditor
ISO 37001: 2016 – Lead Auditor
Microsoft Certified Solution Associate
Microsoft Certified Technology Specialist: Windows Server 2008
Network Infrastructure Configuration
Offensive Security Certified Professional (OSCP)
Qualified Internal Audit (QIA)
Qualified Risk Governance Professional (QRGP)
Qualified Wealth Planner (QWP)
Red Hat Certified System Administrator (RHCSA)
Sertifikasi Akuntan Publik
Sertifikasi Auditor Hukum Indonesia
Sertifikasi Manajemen Umum Dana Pensiun (MUDP)
Sertifikasi Wakil Manajer Investasi
The Open Group Architecture Framework version 9 Foundation (TOGAF 9)
3
1
1
2
2
2
1
3
2
1
1
2
3
1
1
1
1
1
1
2
1
108
INTERNAL AUDIT’S TRAINING AND EDUCATION
In 2022, Telkom will involve IA Telkom employees in various educational and training activities organized by Telkom
CorpU, ACFE, IIA, ISACA, SPRINT, BPKP, and others. This is done because Telkom realizes the importance of maintaining
the competence of IA Telkom employees. The following are recapitulation of education and training attended by IA
Telkom employees.
Programs
Number of Participants
Number of Days
Culture
Leadership
Business
Technical
Certification
Sharing Knowledge
Total
5
14
8
21
13
5
66
191
77
567
214
21
321
1,391
225
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk INTERNAL CONTROL SYSTEM
The implementation of Internal Control System (SPI) at
Telkom is a continuous monitoring mechanism, including
the reliability of financial reports, availability of complete
and timely financial reports, including the evaluation of
financial reporting. Telkom’s SPI is under the supervision
of President Director and Director of Finance, and is
carried out by the Board of Directors, management, and
other personnel collectively.
Telkom continues to strive to ensure that the preparation
of consolidated financial statements is in accordance with
Financial Accounting Standards set by Indonesian Institute
of Accountants (IAI) and also complies with the provisions of
SOX Section 404 because Telkom’s shares are listed on New
York Stock Exchange. SOX Section 404 requires Telkom to
establish, maintain, test, and disclose the effectiveness of
internal control over financial reporting.
In addition to the financial aspect, SPI also aims to
provide adequate guarantees for the achievement of
efficiency and effectiveness of operational activities,
as well as compliance with regulations. Through this
system, Telkom monitors the Company’s compliance
with applicable laws and regulations, both regulations
issued by Telkom officials and government regulations.
In addition, Telkom also controls its operational activities
within the SPI framework, according to the activities in
the applicable work procedures in each function.
INTERNAL CONTROL
FRAMEWORK
SPI which was implemented by Telkom is in line with the
Internal Control-Integrated Framework 2013 from The
Committee of Sponsoring Organizations of the Treadway
Commission (COSO). Telkom is committed to always
ensuring that policies, compliance, and all business
activities are carried out in accordance with applicable
laws and regulations, both internal and external. The unit
responsible for compliance with laws and regulations
is Legal & Compliance Unit under Corporate Secretary
Department. The unit carries out several activities, such
as legal advisory, legal opinion, legal review, and litigation.
Telkom implements five components of internal control
in accordance with the COSO Framework. These
components are interlinked at all levels and business
units of the company. The five components implemented
by Telkom are:
1. Control Environment
a. Demonstrates commitment to integrity and ethical
values.
b. Exercises oversight responsibility.
c. Establishes structure, authority, and responsibility.
d. Demonstrates commitment to competence.
e. Enforces accountability.
2. Risk Assessment
a. Specifies relevant objectives.
b. Identifies and analyzes risk.
c. Assesses fraud risk.
d. Identifies and analyzes significant change.
3. Control Activities
a. Selects and develops control activities.
b. Selects and develops general controls over
technology.
c. Deploys through policies and procedures.
4. Information and Communication
a. Uses relevant information.
b. Communicates internally.
c. Communicates externally.
5. Monitoring Activity
a. Conducts ongoing and/or separate evaluations.
b. Evaluates and communicate deficiencies.
226
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE INTERNAL CONTROL IMPLEMENTATION IN TELKOM
The five components have been applied to Telkom’s policies, including the following:
INTERNAL CONTROL IMPLEMENTATION IN TELkOM
Control Environment
·
·
·
Telkom is committed to integrity and ethical values by building and establishing a corporate culture as a guide for main players
in building leadership patterns and strengthening organizational synergies, as an engine of economic growth, an accelerator
of social welfare, a provider of employment, and a provider of high performing culture talent. Telkom guarantees sustainable
competitive growth in the form of long-term superior performance achievement. Core Values AKHLAK (Amanah, Kompeten,
Harmonis, Loyal, Adaptif, and Kolaboratif) are the main values of SOE human resources that must be adopted by TelkomGroup
so that every TelkomGroup resource knows, implements, and internalizes seriously, consistently and consequently, thus bring
forth to daily behaviors that shape the work culture of TelkomGroup which is in line with the Core Values of SOE.
Telkom ensures the effectiveness of implemented Internal Audit activities by implementing the SOA 302/404 prerequisites
and managed with a risk-based audit approach. Telkom also ensures that effective coordination and co-operation with internal
and external parties, and business risks to all business activities are adequately managed with internal control systems.
Telkom has a Competency Directory that defines the company's competency needs. One of them is Finance Stream which
includes the competence of Corporate Finance with the sub-area of capital structure competency and Working Capital
Management (Treasury Management). Then, Accounting with sub-area competence of Financial Accounting, Management
Accounting, and Corporate Tax. The competency development policy is aimed at creating superior, global quality, and highly
competitive employees.
Risk Assessment
·
·
·
·
Telkom has several considerations in developing accounting policies, such as Statements of Financial Accounting Standards
(PSAK), Interpretation of Statements of Financial Accounting Standards (ISAK), International Accounting Standards (IAS),
related laws, and changes in impacted internal environments.
Telkom has a principle of financial assertion in ICOFR planning that is well respected by all relevant employees.
Telkom manages internal and external corporate risk with established mechanisms.
Telkom also implements an anti fraud policy control system and has potential fraud prevention.
Control Activities
·
·
·
Telkom sets up a Business Process Owner (BPO) and AO (Application Owner) that have duties and responsibilities related to
ICOFR.
Risk determination rules and internal controls refer to the ICOFR policy consisting of segregation of duties, risk determination,
and determination of internal controls.
Telkom has guidelines for the implementation of information systems security that are aligned with company needs and can
be implemented on an ongoing basis.
Information and Communication
·
·
Telkom has accounting policies implemented under IFAS and IFRS, outlined following accounting principles and
implementation, including information or data related to the process and disclosure of financial reporting, and regulates the
components of the consolidated financial statements.
Telkom has an information technology policy that provides a frame of reference for each process or unit associated with the
organization's IT operations in the preparation and implementation of guidelines and procedures. The scope of IT regulations
in our company covers aspects of IT governance and IT management.
Monitoring Activity
·
·
Telkom has an Internal Audit Charter that includes the auditor's requirements in Internal Audit Department, which has
professional integrity and behavior, knowledge of risks and important controls in the field of information technology,
knowledge of Capital Market laws and regulations.
CEO TelkomGroup always increases awareness from management regarding audit and change management in the form of
CEO Notes and establishes Integrated Audit and forms Probis IFRS.
Telkom regularly conducts assessments related to the implementation of SPI, to improve the quality of the Company’s
Internal Control System (SPI). In 2022, Telkom has conducted an assessment of the implementation of SPI, in line with
Regulation of the Minister of State-Owned Enterprises Article 26 Paragraph (2) of 2011 regarding Implementation of
Good Corporate Governance (GCG) in SOE. The result of SPI assessment in 2022 stated that the effectiveness of the
Telkom Control System is effective.
227
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk FINANCIAL AND OPERATIONAL
CONTROL
from financial plans,
The Company runs a control system for the financial
function starting
feedback,
adjustments to validation process to ensure that plans are
implemented or to change existing plans in response to
various changes that occur. Operational control includes
the placement process so that operational activities are
carried out effectively and efficiently.
In general, financial and operational control at Telkom,
includes:
1. Physical Control of Assets and Intangible Assets
Physical control of assets in the corporate environment
is directed at securing and protecting risky assets.
2. Separation of Functions and Authorization
Segregation of functions is geared towards adequate
review and reduces the potential for errors and fraud.
3. Execution of Events and Transactions
Control is carried out to ensure that transaction
activities are carried out properly according to the plan
and need that have been determined.
4. Accurate and On Time Records on Events and
Transactions
Accurate and on time records of operational events
and transactions that carried out.
5. Restricted Access and Accountability for Resources
and Their Records
Access to company resources and records should be
limited only to the personnel that assigned the duties
and responsibilities.
6. Good Documentation of Control Events and
Transactions
Every event and transaction in the company is well
documented as basic evidence of the occurrence and
fairness of the transaction.
EFFECTIVENESS OF INTERNAL
CONTROL SYSTEM OVERVIEW
Telkom reviews the effectiveness of control system
based on the supervision carried out by Internal Audit
Department, and External Audit Unit. Management is
responsible for the implementation of a reliable and
effective Internal Control System and ensures that it is
embedded at every level of the organization.
Internal Audit Department oversees the implementation
of Internal Control System and report it to the Board of
Directors and the Board of Commissioners. The audit
findings will be submitted to the relevant management
for follow-up. Based on the supervision in 2022, Internal
Control System at Telkom is considered to have been
running effectively.
STATEMENT OF THE BOARD
OF DIRECTIONS AND/OR THE
BOARD OF COMMISSIONERS
ON ADEQUACY OF INTERNAL
CONTROL SYSTEM
In an effort to ensure the effectiveness of internal
control system, the Board of Directors and the Board of
Commissioners through Audit Committee hold regular
meetings with the Internal Audit and External Audit Unit.
The meeting discussed internal control monitoring and
follow-up plans on matters that need to be of concern
to management. Internal Audit and External Audit Unit
will report to the Board of Directors and the Board of
Commissioners the result of monitoring and testing of
internal controls at least once a year.
The Board of Directors and the Board of Commissioners
assess that Telkom’s internal control system has been
running effectively and has met the adequacy of policy
and standard referred. This adequacy includes:
1. Provisions of Sarbanes-Oxley Act (SOX) 302, 404,
and 906.
a. SOX 302 Corporate Responsibility for Financial
Reports
Require the CEO and CFO to provide certification
the effectiveness of design and
regarding
implementation of internal control and disclosure
of significant deficiencies in internal control in the
context of financial reporting (Internal Control over
Financial Reporting/ICoFR).
b. SOX 404 Management Assessment of Internal
Controls
Require companies that list their shares on United
States stock exchange to design,
implement,
document, evaluate, and disclose the result of
evaluation of the effectiveness of internal control
over financial reporting (internal control over Fina
ncial Reporting/ICoFR).
c. SOX 906 Corporate Responsibilities for Financial
Reports: Failure of Corporate Officers to Certify
Financial Reports
i.
If misrepresented, the CEO and CFO are subject
to criminal penalties of up to $1 million or up to 10
years in prison, or both, or
ii. If the disclosure is intentional, the CEO and CFO
are subject to criminal penalties of up to $5
million or up to 20 years in prison, or both.
2. Regulation of the Minister of State-Owned Enterprises
Number 1 of 2011 Article 26 paragraph (2) regarding the
Implementation of Good Corporate Governance (GCG)
in SOEs.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
RISK MANAGEMENT SYSTEM
in
role
important
Within Telkom and its Subsidiaries, the risk management
system has an
realizing GCG.
Various business risks can be identified through the
improvement of
implementation and continuous
the management system. By implementing a good
risk management system, the company can compile
appropriate risk changes to support business expansion
and expansion of business scope for communication
transformation in the digital era.
GENERAL ILLUSTRATION
REGARDING THE RISK
MANAGEMENT SYSTEM
As a company listed on the New York Stock Exchange
(NYSE), Telkom has an obligation to implement risk
management by complying with the Sarbanes-Oxley
Act, specifically articles 302 and 404, also SOE Minister
Regulation No. 1 of 2011. Implementation of a risk
management system is not only a form of Telkom’s
compliance, but so that the company’s business
continuity can run well.
1. Decision of the Commissioners (KAKOM No. 7/2006
Risk Management regarding the Authorities and
Responsibilities of the Commissioners, the Obligations
Implementation
of the Directors regarding the
of Risk Management);
2. Decree of the Board of Directors/Regulation of the Board
of Directors (KD 13/2009 regarding Guidelines for the
Management of SOX Sections 302 and 404, Company
Management refers to the provisions of the US SEC;
3. Regulation of the Board of Directors of a Limited
Liability Company (Persero) (Number: 614.00/r/01/
HK200/COP-D0030000/2021)
regarding Company
Risk Management;
4. Regulation of
Management
the Director of Finance and
614.00/r.01/HK200/
Risk
COP-I0000000/2022
for
Implementing Corporate Risk Management (Telkom
Enterprise Risk Management);
regarding Guidelines
(PR
5. Standard Operation Procedure, (Number: SOP.RMPP.03/
RSG/2022) regarding the explanation of the regulations
for the director of finance and risk management for
corporate companies (Persero) PR 614.00/r.01/HK200/
implementation
COP-I0000000/2022
guidelines for enterprise risk management.
regarding
From the aspect of the company’s internal regulations,
relating to the regulation of the implementation of risk
management, Telkom has also issued various company
policies in the form of:
These various regulations and provisions form the
foundation for Telkom to carry out risk management, of
course referring to various existing standards and best
practices.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk HEAD OF RISK MANAGEMENT DEPARTMENT’S PROFILE
JATI WIDAGDO
Age
49 years old
Nationality
Indonesian
Domicile
Jakarta, Indonesia
Education
•
1996 Bachelor Degree in Industrial Engineering,
Sekolah Tinggi Teknologi Telkom, Indonesia.
Executive Course
• Executive Education: INSEAD (Global Leadership Course).
• Kellog Northwestern (Operational Strategy).
•
• BCI (Risk Management & Business Continuity Plan.
Standford (Driving Innovation).
Basis of Appointment
Decision Letter of Telkom Directors No. SK 1804/PS720/
HCB-105/2021 dated July 30, 2021 regarding Employee
Movements.
Term of Office
August 1, 2021 up to present.
Career Experiences
2021 - Present
•
2020 - 2021
•
2019 - 2020
•
2016 - 2019
•
•
2009 - 2016
SVP Risk Management.
CEO Admedika.
CEO BOSNET Distribution Indonesia.
Director IT and Operation PT Integrasi
Logistik Cipta Solusi.
Assistant Vice President RPM in Telkom.
Experience Engaged in Strategic Projects
•
2020 - 2021
Head of PMO Digital Market (PADI)
MSME Ministry of SOE.
Lead of Digitization Port and Logistics.
Digital Healthcare.
•
•
2020
2017 - 2019
230
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
JAJAT SUTARJAT
Age
55 years
Nationality
Indonesian
Domicile
Bandung, Indonesia
Educational Background
2003
1992
MM Financial STMB Yayasan Pendidikan Telkom.
Bachelor of Industrial Engineering ITB.
Executive Course
1. Euromoney-Hongkong (M&A Winning Strategy).
2. American Management Association (AMA Strategic Planning).
3. The 9th Annual on Future EMEA Executive - STL Telco 2.0/London.
4. Workshop & Executive Training ICFR - Ernst & Young.
5. Risk Governance Master Class - ERM Academy/Malaysia.
6. London (Working with Business Processes: Discovery, Assessment, Mapping, Analysis and Design).
Certification
1. Certified Governance Risk Compliance Professional (GRCP) OCEG 2022.
2. Certified Governance Professional (CGP) LSP MKS 202.
3. Certified Risk Professional (CRP) LSPPM 2021.
4. Certified in Enterprise Risk and Governance (CERG) from CRMS - Kuala Lumpur 2017.
Basis of Appointment
Decision Letter of Telkom Directors No. SK 1247/PS720/HCB-105/2022 dated August 26, 2022 regarding Employee Movements.
Term of Office
August 26, 2022 up to present.
Career Experiences
2022 – Present
2021 – 2022
2020 – 2021
2017 – 2020
2015 – 2017
2012 – 2014
2006 - 2012
VP Risk Operation & Process Management.
VP Risk Strategy & Governance.
VP Governance & Risk Management
Senior Principal Expert Risk and Process Assurance .
VP Risk & Process Management.
VP Corporate Strategic Planning.
AVP Corporate Strategic Planning.
RISK MANAGEMENT DEPARTMENT’S TRAINING
AND CERTIFICATION
As a commitment to constantly improve the risk management system, Telkom regularly enrolls members of the Risk
Management Department to attend education and training to improve competency and quality.
Apart from that, just like in previous years, Telkom conducted outreach and workshops on risk management in
offices, divisions, and subsidiaries. This is done so that all units within Telkom have the same understanding in the
implementation of risk management. The table below describes the risk management training activities in 2022:
RISk MANAGEMENT TRAINING IN 2022
No.
1.
2.
3.
year
2022
2022
2022
Name
Training Activities
Organization Institution
ISO 22301 BCMS Lead
Implementer
Risk Assessment Project
Risk Based Audit
Online
Sprint Consultant
Online
Online
Tap Kapital
CRMS (Center of Risk
Management & Sustainability)
231
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Name
Training Activities
Organization Institution
year
2022
2022
Training Anti-Fraud:
Membangun Strategi
Anti-Fraud dalam Organisasi
Training ASEAN Corporate
Governance Scorecard (ACGS)
2022
Risk Based Budgeting
Online
Online
Online
ACFE (Association of Certified
Fraud Examiners)
Indonesian Institute for
Corporate Director
CRMS (Center of Risk
Management & Sustainability)
2022
Assessment significant business
process ICOFR
Online
Deloitte
2022
Business Process Management
Online
IPQI Training Center Member
of Proxsis
PROFESSIONAL CERTIFICATION
Risk Management Department consists of professionals who are experts in their fields. By the end of 2022, there are 17
members of Telkom Risk Management Department who have professional certifications related to risk management,
as presented in the table below.
Member’s Name
Certification
year of Review
Status
No.
4.
5.
6.
7.
8.
No.
1.
2017
2021
2021
2022
2017
2020
2021
2022
2021
2021
2022
2020
2020
2020
2020
2020
2021
2021
2021
2021
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Jajat Sutarjat
a. Certified in Enterprise Risk Governance (CERG)
b. Certified Risk Professional (CRP)
c. Certified Governance Professional (CGP)
d. Certified Risk Governance Professional (CRGP)
2.
Moh Ahmad
a. Certified in Enterprise Risk Governance (CERG)
b. Certified Risk Professional (CRP)
c. Certified Governance Professional (CGP)
d. Certified Risk Governance Professional (CRGP)
3.
Hendri Purnaratman a. Certified Risk Professional (CRP)
b. Certified Governance Professional (CGP)
c. Certified Risk Governance Professional (CRGP)
4.
5.
6.
7.
8.
9.
Agus Suprijanto
Certified Risk Professional (CRP)
Rudi Sudiro M
Certified Risk Professional (CRP)
Iswatoen Hasanah
Certified Risk Professional (CRP)
Tati Krisnayanti
Certified Risk Professional (CRP)
Fivtina Marbelanty
Certified Risk Professional (CRP)
Sophia Khana
a. Certified Risk Professional (CRP)
10.
Meylia Candrawati
a. Certified Risk Professional (CRP)
b. Certified Governance Professional (CGP)
b. Certified Governance Professional (CGP)
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No.
Member’s Name
Certification
year of Review
Status
11.
12.
13.
14.
15.
16.
17.
Nofriandi Rosa
Certified Risk Professional (CRP)
Tatwanto Prastistho
Certified Risk Professional (CRP)
Dimas Prasstyo
Certified Risk Professional (CRP)
Ardistya Wirawan
Certified Risk Professional (CRP)
Alya Mutiara Basti
Certified Risk Professional (CRP)
Rizka Raniah
Rahmat
Niken Dwi
Trisnaningati
Certified Risk Professional (CRP)
Certified Risk Professional (CRP)
2021
2021
2021
2022
2022
2022
2022
Active
Active
Active
Active
Active
Active
Active
In addition, training and certification programs are also aimed at divisions and/or sub-units where, in 2022 the Certified
Risk Professional (CRP) program has been carried out for 22 Telkom employees who are the main risk managers in
their respective divisions and/or sub-units. So that since 2020 the total number of TelkomGroup employees who have
participated in the Certified Risk Professional (CRP) program are 115 employees.
RISK AWARENESS AND CULTURE
In line with the Strategic Plan of the Ministry of SOEs 2020-2024, specifically related to strengthening the risk
management function and GCG of SOEs, increasing the Risk Aware Culture is important in achieving company
targets & goals.
A good Risk Aware Culture can improve:
1. Organizational capability to manage measurable risk levels
2. Improving Corporate Governance Compliance
3. Achievement of company performance targets
As a basis for the behavior of Telkom personnel in realizing risk management practices, Risk Aware Culture is one of
the implementations of AKHLAK’s Core Values, especially on the KOMPETEN value, namely continuing to learn and
develop capabilities. The risk awareness program is carried out in 3 categories, namely the leader journey, people
journey, and program journey.
1. Leader Journey
a. Sharing Session Involving Telkom Leaders
Telkom routinely conducts sharing sessions involving C-Level Executives from divisions and subsidiaries with the
aim of building a commitment to risk management implementation.
b. Training and Certification
Telkom also strengthens risk management through relevant training programs that are attended by Heads of
Units and Management of Subsidiaries.
c. Webinars with External Experts
The webinar program is conducted by external experts, both consultants, practitioners, and academics.
2. People Journey
a. Communicate Clearly (Compile Story)
Telkom’s Risk Management Department intensively conducts advisory and also provide coaching to Units
and Subsidiaries in order to strengthen risk management through several platforms (information listed on the
platform is available in Indonesian language) including:
1) Diarium (Digital Poster)
2) Telegram Channels
3) WhatsApp Blast
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Risk Awareness
Risk Awareness
28213 Pengikut
28213 Pengikut
Risk Awareness
Risk Awareness
1 tahun yang lalu
1 tahun yang lalu
Diarium by Telkom Indo...
Dalam rangka meningkatkan
kualitas Manajemen Risiko,
saat ini Departemen Risk
Management sedang
mengadangkan survei yang
bertujuan untuk mengumpulkan
persepsi Bapak/Ibu terhadap
budaya risiko perusahaan
dan masukan megenai
pelaksanaan manajemen risiko di
TelkomGroup.
Untuk itu kami mohon bantuan
Bapak/Ibu untuk dapat
mengisi Survei Budaya Risiko
Perusahaan di TelkomGroup &
Peningkatan Kualitas Manajemen
Risiko di TelkomGroup. Silahkan
klik link; berikut, diperlukan
sekitar 5 - 10 menit untuk
mengisi.
Risk Awareness Tel...
174 subscribers
Risk Awareness Telkom Group
Semangat Pagi Telkomers ..!!
Berdasarkan PD.614/r.01/K.200/
COP-D0030000/2021/ tentang
manajemen risiko perusahaan,
Telkom menggunakan ISO
31000:2018, yang disusun oleh
International Organization for
Standarization, sebagai standar
manajemen risiko perusahaan.
ISO 31000 : 2018 memberikan
pedoman bahwa pengelolaan risiko
didasarkan pada prinsip, kerangka
kerja, dan proses.
Hari ini kak min akan memperk-
enalkan Prinsip manajemen risiko
berdasarkan ISO 31000 : 2018.
Prinsip manajemen risiko
memberikan panduan terhadap
karakteristik manajemen risiko
yang efektif dan efisien,
mengkomunikasikan nilainya, serta
menjelaskan maksud dan
Tampilan Channel Risk Awareness
di Platform Diarium TelkomGroup
Display of the Risk Awareness Channel
on the TelkomGroup Diarium Platform
Tampilan Broadcast
Display Broadcast
on Whatsapp Diarium
di Whatsapp Diarium
Tampilan Channel Risk Awareness
Display of the Risk Awareness
Channel on Telegram
di Telegram
b. Mandatory Digital Learning
Telkom conducts mandatory digital training related to risk management which must be attended by all
TelkomGroup entities. Besides that, after participating in digital training, awareness measurements were also
carried out in the form of a risk culture survey.
SUMMARy IMPROvEMENT PROGRAM RISk AWARENESS
No.
1.
2.
3.
Issue
2021
2022
2021 Program Evaluation
Policies, regulations
and SOPs related to
Risk Management
Implementation of
Risk Management
(Risk Monitoring)
Implementation of
Risk Management
(Risk Evaluation)
As many as 68% of
respondents strongly agree
and agree that policies,
regulations, and SOPs
related to Risk Management
are easy to obtain.
As many as 89% of
respondents strongly agree
and agree that information
regarding risk management
policies and procedures
can be accessed easily by
all units.
Create Risk Management
management policies that
are contained in the PD, PR
and SOP uploaded to the
ERM Online application.
As many as 80% of
respondents strongly
agree and agree That the
management of major
unit risks has been carried
out properly, monitored
transparently and measured
objectively.
As many as 86% of
respondents strongly agree
and agree that they have
monitored risks, have used
ERM Online in compiling
and regularly updating
the Risk Register and Risk
Reporting.
Socialization and
enhancements have been
carried out on the ERM
Online application in order
to make it easier for units to
carry out risk monitoring in
a transparent manner.
As many as 32% of
respondents strongly
agree and agree that
monitoring and evaluation
of the implementation of
risk management in the
workplace has not gone
well.
As many as 92% of
respondents strongly agree
and agree that periodic
monitoring and updating of
risk mitigation reports have
been carried out which have
been evaluated by the Risk
Management Department.
•
Implementation of
LO (Liaison Officer) to
strengthen and oversee
risk management in units
and subsidiaries.
• Evaluation and
Assessment of RME KPIs
every quarter.
234
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE No.
4.
Risk management
budget
5.
Risk management
competency
Issue
2021
2022
2021 Program Evaluation
As many as 22% of
respondents strongly
agree and agree that
Senior Leaders find it
difficult to allocate
budgets related to risk
mitigation activities.
As many as 68% of
respondents strongly
agree and agree that
the competency of the
person in charge of risk
management in the unit is
still lacking, so it needs
to be improved.
As many as 93% of
respondents strongly agree
and agree that the risk
mitigation plan has been
integrated with the budget
preparation process to
mitigate risk.
As many as 90% of
respondents strongly
agree and agree have PIC
Risk Management to help
identify and manage risks.
Adding quantitative
features to the ERM Online
application (Budget Plan,
Realization of risk response,
risk impact).
Conduct CRP training
and certification for risk
managers in related units.
c. New Employee Training Program
Every new employee is required to attend several trainings, one of which is regarding Risk Management.
3. Program Journey
a. Breakdown Silos
The Risk Management Department acts as an intermediary and communication center across divisions and
subsidiaries to be able to carry out collaborative cooperation in the context of mitigating corporate risk. One form
of activity that has been implemented is advisory for the alignment of strategy and risk management of all units.
b. Assume responsibility for risk
There is a risk manager in each division and subsidiary who conducts direct identification and monitoring so that
it is expected to be able to capture all possible risks that exist in the company.
c. Utilization of technology and IT tools
Telkom has an online ERM application that is used by all divisions and subsidiaries in real time. Some of the
modules that have been developed include:
1) Telkom and Subsidiaries’ Risk Register Module
2) Project Risk Module
3) EWS (Early Warning System) Module
4) LED Module (Loss Event Database)
5) Support Needed Module
FRAMES: Revenue
Assurance & Fraud Mgt
ICCA:
CSA ICOFR Management
EITA:
Process Management
i-Library:
Dokumentasi IMS
Portal SAS:
Evaluasi Security Physic
Tools pendukung
lainnya:
Display of ERM TelkomGroup Online Application
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk d. Implement risk management KPIs
11. Coordinating the risk-based budgeting unit together
with financial control.
12. Coordinating the preparation/updating of the BCP
Set.
13. Coordinate risk assessment and business impact
analysis.
14. Perform BCP (sampling) evaluation and testing.
15. Carry out ISO 22301 Certification: BCMS.
16. Managing Insurance (property, Director & Officer/
DNO, personal accident, in-orbit satellite insurance,
etc.).
17. Support revenue assurance.
18. Oversee the implementation of fraud management.
19. Carry out the ICoFR fraud risk assessment business
process.
20. Prepare risk management reports to BOD and BOC.
21. Prepare risk management reporting and support the
risk management agenda of the Ministry of SOEs.
22. Develop and update ERM policies and SOPs (ERM
PR, ERM SOP, guidelines for implementing risk
assessment, BCMS, insurance, fraud management,
and revenue).
23. Planning and facilitating the assessment of the
effectiveness of risk management (risk maturity
assessment).
24. Compiling,
performance
effectiveness units.
developing,
indicators
and
for
evaluating
key
risk management
25. Develop policies, governance, and good corporate
governance roadmaps.
26. Develop
policies,
governance,
and
quality
management roadmaps.
27. Formulate policies (including methods), governance,
and
management
mechanisms,
process
communications.
28. Manage, design, and develop company business
processes (enterprise-wide processes, business unit
processes).
29. Manage, design, and remediate ICoFR business
processes.
30. Review
the organization’s high-layer business
processes.
to
commitment
the
The Senior Leader’s
implementation of risk management is evidenced
by the implementation of KPI Risk Management
Effectiveness as one of the performance indicators
assessed for all BOD-1 units in Telkom. Assessment is
carried out quarterly by Telkom’s Risk Management
Department on the Risk Register and Risk Reporting
of all BOD-1 units. The parameters used to evaluate
the effectiveness of Risk Management
include
completeness, quality, and reporting time delivery.
RISK MANAGEMENT
DEPARTMENT’S ACTIVITIES
During 2022, the Risk Management Department has
carried out its duties and responsibilities in managing
various risks. Duties and responsibilities that have been
carried out, namely:
1. Compile and update the TelkomGroup risk profile.
2. Developing CSS and RKAP risk factors.
3. Coordinate and carry out advisory activities in the
context of compiling risk registers, risk reviews, and
escorting ERM improvements in both units and
subsidiaries.
4. Updating the risk universe.
5. Conduct risk taxonomy mapping based on SOE
Minister Regulation Number PER-5/MBU/09/2022
regarding Implementation of Risk Management in
State-Owned Enterprises.
6. Categorizing parent entities and entities under the
TelkomGroup parent company based on risk intensity
referring to the Minister of SOE Regulation Number
PER-5/MBU/09/2022 regarding Implementation of
Risk Management in State-Owned Enterprises.
7. Perform
alignment
implementation with Subsidiaries.
of
risk management
8. Conducting Risk Maturity 2022 measurements at
Telkom and 12 Subsidiaries with external independent
consultants.
9. Develop a TelkomGroup ERM strategy and roadmap.
implement a
10. Develop and
risk management
architecture (risk appetite, risk acceptance criteria,
risk tolerance, risk capacity).
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE TYPES OF RISK AND MANAGEMENT METHOD
The Risk Management Department at Telkom has a function to assist the Company’s management in identifying
strategic risks related to business processes. The following table presents some of the main risks that affect Telkom’s
business activities.
TABLE OF RISk AND MANAGEMENT METHOD
Type of Risk
Risks that is Faced
The Impact to Telkom
Mitigation/Risk Management
1. Sistemic Risks
Political and
Social
Macro Economy
Risk of Disaster
Disruptions
to political
stability, social, and security
turmoil both domestically
and internationally caused
by specific issues such as
geopolitical crises,
trade
wars, and so on.
Has a negative
impact on
business growth, operations,
financial condition, results of
supply chain of
operations,
production
and
equipment
prospects, as well as market
prices of securities.
Changes
inflation.
in the rate of
The fluctuation of Rupiah
Exchange rate.
Increase in energy and fuel
prices.
Increase
rates.
in
loan
interest
of
decrease
The
Government or Company’s
credit rating.
1. Affects the purchasing power
and ability to pay customers.
2. Have the
impact on the
business, financial condition,
business result or business
prospect.
3. Have a material adverse effect
to
the business, financial,
condition, business proceeds
or business prospect.
a. Monitoring the influence of socio-
political turmoil on operational/
service disruptions.
b. The maintenance of awareness
improvement of
through
the
safety & security functions.
c. Monitoring supply chain
issues
related to raw materials and
looking
to
for
materials/device designs.
alternatives
a. Monitoring
the
influence
of
macroeconomy to the change to
increase the expense through Cost
Leadership program.
b. To
look for the opportunity to
increase the spending of APBN
pursuant to the government focus
(health, energy, education, etc).
floods,
disasters
such
Natural
lightning,
as
earthquakes,
hurricanes,
tsunamis,
volcanic
eruptions, epidemics, fires,
droughts and pandemics,
as well as other events such
as power outages, riots,
terrorist attacks, which are
beyond Telkom’s control.
Disrupting its business operations
and give negative impact to the
financial performance and profit,
business prospect as well as
market price of securities.
a. Monitoring
indicators that have
the potential to cause disturbances
to equipment such as device
humidity and temperature, ship
traffic on the SKKL route through
the system.
b. Transfer of risk by using the
insurance of assets to anticipate
the natural disaster and fire.
c. Coordination
with
ASKALSI
(Indonesian Sea Cable Association)
and BAKAMLA (Indonesian Marine
Safety Agency) to secure SKKL.
d. Preventive & corrective action by
preparing the disaster recovery
plan and crisis management team.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
Type of Risk
Risks that is Faced
The Impact to Telkom
Mitigation/Risk Management
2. Business Related Risks
Operational Risk
in
failure
The
the
sustainability of network
operation, main system,
gateway
Telkom’s
on
network, or other operator’s
network.
Threat of physical and cyber
security, such as brute force
attack, DDoS attack, and
threats do Data Center.
Has the negative impact to the
business, financial condition,
proceeds from the operation and
business prospect.
a. Implementation of BCM, BCP, and
DRP.
b. Certification of Integrated Man-
agement System (IMS) for infra-
structure management.
Has the negative impact to the
business, financial condition,
result
operation
materially.
from
the
the
a. The upgrade of preventive action
in
vulnerability
assessment and penetration test
periodically.
form of
b. Monitor and identify all types of
attack in the real-time as well as to
choose and conduct a necessary
action immediately.
c. Preparing the recommendation to
handle cyber attack based on the
historical incident analysis.
coordination
with
relevant parties to handle the cyber
attack.
d. Intensive
Risks related to sub-optimal
internet services.
May face a lawsuit and damage
the reputation.
To be more prudent
the
preparation of contract with content
provider partner.
in
New technology.
Has an impact on the competitive
power.
The
limit of operation
period, damage or ruin,
delay or failure to launch,
or the revocation of satellite
license.
Can create
to financial
loss
condition, operation result, and
capability to give services.
a. The preparation of Technology
Roadmap by taking into account
the
future
possible
of
competitor’s technologies.
and
implementation
technologies
b. Acceleration of
IDN
Digital Network) program
support future services.
(Indonesia
to
a. The planning
to change
the
satellite of which operation period
will be immediately expired.
b. The insurance of satellite operation
during the active period.
c. Insurance for manufacturing and
launching of new satellite.
d. Developing
the understanding
with regulator in relation to the
satellite operation by Telkom.
Financial Risk
Interest rate risk.
Market price risk.
impact on
increasing
Has an
interest expenses, especially for
floating interest loans.
Interest rate swap contract from the
float interest rate to become the fix
interest rate upon certain loan term.
Has an impact of changes in
fair value on the performance
of financial assets measured
through profit or loss.
Perform hedging activities of
financial assets.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
Type of Risk
Risks that is Faced
The Impact to Telkom
Mitigation/Risk Management
Foreign exchange rate risk. Has negative
impact on the
financial condition or result from
the operation.
from
risk mainly
Credit
trade receivables and other
receivables.
Liquidity risk.
Adverse
condition,
performance,
prospects.
impact on financial
operational
business
and
Adverse
condition,
performance,
prospects.
impact on financial
operational
business
and
Placement of time deposit and
hedging to cover the fluctuation risk
of foreign exchange.
Continuous monitoring of accounts
receivable balances and periodic
billing.
a. Maintaining
balances
financial liabilities.
adequate
in an effort to
cash
fulfill
b. Perform
analysis
to monitor
statement of financial position
liquidity ratios such as current ratio
and debt to equity ratio against
debt agreement requirements.
The limitation of financing
capital expenditures.
Legal and
Compliance Risk
Regulation Risk
Penalty/fine by KPPU
in
relation to the price-fixing
and the occurrence of class
action.
The change of Indonesian
or International Regulation.
Has a material adverse effect to
the business, financial condition,
operational performance, and
business prospect.
improving
the
Maintaining and
Company’s performance to gain the
trust from national or global fund
institution sources.
Reducing
revenue
Telkom’s
and has negative impact to the
business, reputation, and profit.
Strengthening legal review towards
corporate action plan or certain
contract.
Has the impact to the business,
financial condition, operational
performance,
business
prospect.
and
a. Analysis on the
impact of the
the
regulation plan
industry in general and Telkom in
particular.
towards
Transformation
Risk
The failure of significant
business and organizational
transformation initiatives.
Has an
growth and
financial performance
short and long-term.
impact on business
the company's
in the
b. Giving inputs so that the regulation
that will be stipulated will give
positive impact to the Company
and industry.
a. Market Assessment and strategic
situation analysis on transformation
initiatives.
b. Preparation of strategic fit and
transformation
for
roadmap
initiatives.
c. Conducting risk assessment of
transformation initiatives both at
the pre and post-transformation
stages.
of
d. Implementation
change
management by maximizing the
Project Management Office (PMO)
function.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
RISK MANAGEMENT
SYSTEM’S REVIEW
ON THE EFFECTIVENESS
During 2022, Telkom’s risk management system has
been running effectively. The implemented system can
manage Telkom’s various business risks to support every
policy and process in the TelkomGroup. The effectiveness
of the risk management system at Telkom is supported
information
by several tools or risk management
systems, namely:
1. Generic Tools Enterprise Risk Management Online
(ERM Online), which is used by all units to manage risk
register.
2. Specific Tools
for
certain
risk management
which are:
a. Fraud Management System (FRAMES) application is
used as an early detection system for the possibility
of Customer and Third Party Fraud.
b. i-Library
Service
application managed by
Operation Division and to be used to manage
the documentation system of the
Integrated
Management System.
c. SMK 3 Online application managed by Security &
Safety unit for Health and Safety Documentation
Management.
The evaluation process for assessing the effectiveness of
Risk Management implementation will be carried out in
2022, namely:
1. Measurement of Risk Maturity Index (RMI).
2. Monitoring and evaluation of the effectiveness of risk
mitigation through the ERM Online application.
3. One-on-one evaluation/discussion and advisory with
business units as needed.
4. Joint reporting and evaluation with BOD and
Committee for Planning and Risk Evaluation and
Monitoring (KEMPR).
STATEMENT OF BOARD OF
DIRECTORS AND BOARD
OF COMMISSIONERS
ON ADEQUACY OF RISK
MANAGEMENT SYSTEM
In an effort to ensure the
implementation of risk
management, the Board of Directors and Board of
Commissioners through the Planning and Risk Evaluation
and Monitoring Committee conduct meetings with the
Risk Management Department on a regular basis. The
meeting discussed risk monitoring in the corporate
environment and follow-ups that have been carried out
by the risk owner to minimize the risks that occur. The
Risk Management Department will report to the Board of
Directors and Board of Commissioners the results of risk
monitoring on a quarterly basis.
In 2022, the Board of Directors and Board of Commissioners
assess that the risk management system at Telkom
has been running well according to and fulfilling the
adequacy of the policies and standards referred to. The
adequacy includes among others:
1. Adequacy of Risk Management Information System
The risk management system implemented in the
Company refers to the ISO 31000:2018 framework
and adopts various international standards to ensure
the best implementation of risk management. The
preparation of the company’s risk register and risk
profile has utilized the ERM Online application, as well
as the monitoring and evaluation process as well as
the dashboard.
2. Adequacy of Risk Identification, Measurement,
Monitoring, and Control Processes.
The Board of Directors through the Internal Audit
function has carry out
inspections, evaluations,
reports, and/or recommendations for improvement
of adequacy and the effectiveness of the risk
management process then followed up through
evaluation by the Evaluation Committee and Planning
and Risk Monitoring.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
RISK MANAGEMENT SYSTEM
(FRAMEWORK) AND POLICY
In
implementing risk management policies, Telkom
is guided by two policy bases, namely Regulation
of the Board of Directors No. PD.614.00/r.01/HK.200/
COP-D0030000/2021 dated April 30, 2021 regarding
Corporate Risk Management (Telkom Enterprise Risk
Management) and Regulation of the Director of Finance
PR.614.01/r.00/HK200/COP-D0030000/2016
number
regarding Guidelines for the Implementation of Corporate
Risk Management (Telkom Enterprise Risk Management).
In 2021, the standardization of risk management at
Telkom from which originally referred to COSO ERM
switched to ISO 31000: 2018 Risk Management - Principles
and Guidelines, where this standardization consists
of 3 (three) main components, namely:
1. Principle
Risk Management Principles as the foundation for
how risk management works to ensure the creation
and protection of value, including:
1) Integrated
Risk management is an integrated part of the
company’s overall activities.
2) Structured & Comprehensive
In practice, the company takes a structured and
comprehensive approach to provide consistent and
comparable results.
3) Customized
The risk management framework and process
must be adapted and proportionate to the external
and internal context of the organization in line with
the company’s goals.
4) Inclusive
It is necessary to involve the right stakeholders
at the right time to take their knowledge, views,
and perceptions into account, thereby increasing
awareness of risk management, which is well-
informed.
5) Dynamic
Risks can appear, change, and disappear along
with the changes in the context and conditions of
the company’s internal and external environment.
The application of risk management must be able
to anticipate, detect, acknowledge, and respond to
these changes and events in an appropriate and
timely manner.
6) Best Available Information
Risk management is based on historical, current
information and expectations for the future. Risk
management explicitly considers all limitations and
uncertainties associated with such information and
expectations. Information must be timely, clear,
and available to relevant stakeholders.
7) Human & Culture Factors
Behavior and culture significantly affect all aspects
of risk management at every level and stage of the
company’s activities.
8) Continuous Improvement
Risk management
through learning and experience.
is continuously
improved
2. Framework
The framework that regulates the commitment to
the role and division of Telkom’s risk management
functions includes:
1) Leadership & Commitment
i. The Board of Directors ensures that risk
management is integrated into all activities of
the Company and must demonstrate leadership
and commitment, by:
a. Customize and implement all components of
the framework;
b. Issue a statement or policy that sets out risk
management approaches, plans, or actions;
c. Ensure that necessary resources are allocated
to manage risk;
d. Establish
authority,
and
accountability at the appropriate level within
the Company.
responsibility,
responsible
is
ii. The Board of Directors
for managing
the Board of
risks, while
Commissioners is responsible for overseeing risk
management.
2) Integration
i. Risk management becomes
inseparable
from the Company’s objectives, governance,
leadership and commitment, strategy, goals,
and operations.
ii. The integration of risk management into the
Company is a dynamic and iterative process and
must be adapted to the needs and culture of the
Company.
iii. Risks are managed in every part of the Company’s
structure, where everyone in the Company has
the responsibility to manage risks.
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
3) Design
3. Context assignment - Scope, context, and criteria;
a) Risk assessment consisting of:
i. Risk identification;
It is a process to find, recognize, and describe risks
in achieving the Company’s objectives. Relevant,
appropriate, and up-to-date
is
essential in identifying risks.
information
ii. Risk analysis;
It is a process to understand the nature and
characteristics of risk, including its level of risk.
Risk analysis involves a detailed consideration
of the uncertainty, the source of the risk, the
consequences, the possibilities, events, scenarios,
controls, and their effectiveness. An event can
have many causes and consequences and can
also affect a variety of objectives.
iii. Risk evaluation.
Is a process to support decision-making. Risk
evaluation
involves comparing risk analysis
results with established risk criteria to determine
where additional measures are needed.
b) Risk treatment;
i. Risk treatment is to select and implement
options for dealing with risk, which consists of:
a. risk aversion;
b. accept risks;
c. mitigating risks;
d. dividing/transferring risks.
ii. The risk treatment plan should be integrated
into the Company’s management plans and
processes
in consultation with appropriate
stakeholders.
c) Monitoring and review;
i. Monitoring and review are to ensure and improve
the quality and effectiveness of the process
design, implementation, and risk management
outcomes.
ii. Monitoring and review should be carried out at
all process stages, including planning, collecting,
analyzing information, documenting results, and
providing feedback.
d) Recording and reporting;
i. The risk management process and its results
should be documented and reported through
appropriate mechanisms.
ii. Reporting
is an
is
It
integral part of corporate
governance.
improve the
intended to
quality of dialogue with stakeholders and
support the Board of Directors and the Board of
Commissioners in fulfilling their responsibilities.
i. The design of the risk management framework is
carried out by examining and understanding the
external and internal context of the Company.
ii. The Board of Directors and the Board of
Commissioners demonstrate and articulate
their ongoing commitment to risk management
through policies, statements, or other forms, and
are communicated within the Company and
stakeholders.
iii. Authority,
responsibility, and accountability
related to risk management are established and
communicated at all levels within the Company.
iv. Management ensures the appropriate allocation
v. The
Company
of resources for risk management.
establishes
approved
communication and consulting approaches
to support the framework and facilitate the
implementation of effective risk management.
4) Implementation
implementation
Risk management
requires
stakeholders’ involvement and awareness, thus
allowing the Company to consider uncertainty in
decision-making explicitly.
5) Evaluation
The company evaluates the effectiveness of the
risk management
framework by periodically
measuring its performance of the risk management
framework.
6) Improvements
i. The Company monitors and adjusts the risk
in anticipation of
framework
management
external and internal changes.
ii. The Company is constantly improving the suit-
ability, adequacy, and effectiveness of the risk
management framework and how to integrate
risk management processes.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
RISK MANAGEMENT’S ORGANIzATIONAL STRUCTURE
As an initiative to strengthen the risk management organization based on directions and aspirations from the Ministry
of SOEs and the Board of Commissioners, governance of the management function is under the responsibility of
the Risk Management Department which is under the Directorate of Finance & Risk Management. Appointment
and dismissal of members of Risk Management Department is carried out by President Director, Director of HCM
or SGM HCBP based on Resolution of President Director, Director of HCM or SGM HCBP. The number of employees
in Risk Management Department are currently 27 peoples. The arrangement of the organizational constellation
of the Risk Management department is regulated in the Directors Regulation Number: PD.202.47/r.06/HK200/
COP-A2000000/2021 regarding the Organization of the Directorate of Finance & Risk Management, it is explained
that the Risk Management Department is the department that has the role and responsibility for providing business
processes, implementation of governance and quality management, management of strategic & operational risk
management, adequate, and effective management of Enterprise Risk Management (ERM) within the scope of the
TelkomGroup. The structure of the Risk Management Department is as follows:
President Director
Director
VP
Director of Finance & Risk
Management
Risk Management
Department
SVP
RM
VP Risk Strategy &
Governance
VP Risk Operartion &
Process Management
AVP
Strategic
Risk Mgt
AVP Risk Mgt
Planning and
Policy
AVP
Governance
& Quality Mgt
AVP
Operational
Risk Mgt
AVP Risk
Reporting &
Support
AVP Process
Mgt
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk VP RISK STRATEGY & GOVERNANCE
1. VP Risk Strategy & Governance is responsible for
managing Enterprise Risk Management
(ERM)
at an adequate and effective strategic level and
implementing governance and quality within the
scope of TelkomGroup.
2. In carrying out its responsibilities, VP Risk Strategy
& Governance carries out the main activities, among
others, but not limited to the following:
and
a. Formulate
Risk
develop
Management (ERM) strategies, roadmaps, policies,
and architectures;
Enterprise
b. Compiling and managing the Company’s risks,
including Risk Profile, Risk Factors, RKAP, including
risk management advisory activities within the
TelkomGroup;
c. Develop, assign, and assess the Key Performance
Indicator Risk Management Department and
develop, manage, and update the Application
Support ERM;
d. Formulate strategies, policies, and mechanisms for
GCG and quality management within the scope of
TelkomGroup;
e. Coordinating and overseeing the implementation of
GCG & quality management as well as mechanisms
and business process disclosure (DCP) along with
its evaluation and reporting; and
f. Carry out advisory functions for implementing
GCG and quality management within the scope of
TelkomGroup.
3. In carrying out
its activities, VP Risk Strategy &
is not
interacts among others, but
Governance
limited to:
a. All units in the Company and its Subsidiaries and
other entities, including the Foundation, in terms
of managing enterprise quality management
and GCG;
b. All units in the Company in terms of advisory on the
preparation of risk register units, preparation of Risk
Profile, and KPI assessment of Risk Management
Effectiveness;
c. All Subsidiaries
management;
terms of advisory
risk
in
d. Financial Controller Unit in terms of risk budgeting
& monitoring;
e. Internal Audit Department in terms of auditing the
effectiveness of Enterprise Risk Management (ERM)
implementation;
f. Performance management unit determines and
measures KPI Risk Management Department.
4. In carrying out the duties and authorities as referred
to in paragraph (3), VP Risk Strategy & Governance is
assisted by:
a. AVP Strategic Risk Management.
b. AVP Risk Management Planning & Policy.
c. AVP Governance & Quality Management.
RISK MANAGEMENT GROUP
TASKS AND RESPONSIBILITIES
SVP RISK MANAGEMENT
1. The Risk Management Department is led by the Senior
Vice President of Risk management, referred to as SVP
Risk Management.
2. In carrying out its duties and authorities, the SVP of
Risk Management is responsible for reporting to the
Director of Finance and Risk Management.
3. SVP Risk Management is responsible for managing
policies, controlling, supervising, and implementing
risk management
the
management of Enterprise Risk Management
implementation of governance and
(ERM), the
quality management, business processes, and risk
management reports within the TelkomGroup.
functions,
including
4. If not otherwise determined by the Board of
Directors or Company Regulations related to the
Executive Committee, the SVP of Risk Management is
responsible as Secretary of the Executive Committee
of the Risk Management, Compliance, and Revenue
Assurance Company.
5. In carrying out
its
strategies,
roadmaps,
responsibilities, SVP Risk
Management carries out the main activities, among
others, but not limited to the following:
a. Determine
policies,
governance, and mechanisms in risk management
(Enterprise Risk Management), governance &
quality management, and process management at
TelkomGroup;
b. Coordinating
risk
management, GCG, quality management, and
process management with related units within the
TelkomGroup;
implementation
the
of
c. Coordinating strategies and implementation of
risk management and GCG with external parties,
including regulators; and
d. Coordinate
the monitoring, evaluation, and
reporting processes of management, GCG,
quality management, and process management
implementation at TelkomGroup.
6. In carrying out the duties and authorities as referred to
in paragraph (3), SVP Risk Management is assisted by:
a. VP Risk Strategy & Governance; and
b. VP Risk Operation & Process Management.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE VP RISK OPERATION & PROCESS
MANAGEMENT
1. VP Risk Operation & Process Management is responsible
for managing Enterprise Risk Management (ERM) at
the operational level and the availability of adequate
and effective business processes within the scope of
the Company.
2. In carrying out its responsibilities, VP Risk Operation &
Process Management carries out the main activities,
among others, but not limited to the following:
a. Coordinate management business continuity
insurance management,
management
revenue assurance, and fraud management;
(BCP),
b. Conduct business risk reviews, regularization notes,
waivers, and ICoFR risk assessments;
c. Coordinating
risk-based budgeting,
support
hedging, budget management & KPI/KM, risk
culture, and risk competency enhancement;
d. Prepare the Company’s risk management reporting;
e. Formulate strategies, policies, governance, and
management mechanism management processes
that
include, among others, enterprise-wide
process, business unit process, cross-functional
process, and business process ICoFR (Transactional
Level Control) of the Company;
f. Ensure that all ICoFR business processes are by the
provisions of SOA 404 to meet compliance with
financial and internal control audits (integrated
audits); and
g. Formulate strategies, policies, governance, and
control mechanisms for the Company’s Internal
Entity Level Control.
3. In carrying out its activities, VP Risk Operation &
Process Management interact, among others, but is
not limited to:
a. Infrastructure Management Business Unit and Asset
Management Unit in terms of business continuity
management and insurance management;
b. Customer Management Business Unit in terms of
revenue assurance and fraud management;
c. Financial controller unit in terms of risk-based
budgeting and budget management;
d. All units in terms of business risk review, risk culture
management, risk competency enhancement, and
risk management reporting; and
e. Organizational Development Management Unit,
Corporate Policy Management Unit,
Internal
Audit Management Unit, all operational units and
subsidiaries in terms of management and audit of
the enterprise-wide process, business unit process,
cross-functional process, and business process
ICoFR (Transactional Level Control).
4. In carrying out the duties and authorities as referred
to in paragraph (3), VP Risk Operation & Process
Management is assisted by:
a. AVP Process Management.
b. AVP Risk Reporting & Support; and
c. AVP Operational Risk Management.
245
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk WHISTLEBLOWING SYSTEM
DELIVERING A VIOLATION
REPORT
Reports or complaints of violations can be submitted via
website, e-mail, fax, or letter with address:
Website
Hotline
Faksimile
Email
PO Box
SMS
WhatsApp
: https://id.deloitte-halo.com/
telkomwbs/
: (021) 5088 4601
: (021) 5088 4602
: Telkomwbs@tipoffs.info
: Telkom Integrity Line
PO Box 2800 JkP 10028
: 0813 9000 3217
: 0813 9000 3217
The complaint must meet the following requirements:
1. Issues in accounting and internal control over financial
reporting that has the potential to result in material
misstatements in the Company’s financial statements;
the
issues, especially
involving
2. Audit
those
independence of the Public Accounting Firm;
3. Violation of the laws and regulations of the capital
market relating to the company’s operations;
4. Violation of internal regulations that have the potential
to cause harm to the company;
behaviour
5. Fraud and/or Abuse of Position committed by
officials and/or employees within the TelkomGroup
Environment;
6. Disrespectful
of
Commissioners, Organs of the Board of Commissioners,
Directors, Management, and employees of the
company, including but not limited to dishonesty,
conflict of
interest and providing misleading
information to the public which directly or indirectly
has the potential to damage reputation or cause losses
to the company.
the Board
of
(WBS) since 2006,
Telkom already has and operates a Whistleblowing
System
following up on The
Sarbanes-Oxley Act of 2002. The establishment of WBS
mechanism is an effort to prevent fraud and is a medium
for all individuals within Telkom and third parties to
report violation, fraud, or other form of ethical violation
related to Telkom.
One of the concerns of Audit Committee as WBS manager
is to increase the credibility of WBS system so that it
can become a trusted medium for the public to submit
report of violation. Audit Committee has conducted a
series of comparative studies and studies to formulate
the necessary improvement so that Telkom’s WBS can
make an optimal contribution to improving the quality
of internal control.
To increase the independence and effectiveness of the
WBS, on January 31, 2022 the Telkom Integrity Line
was launched which is a new phase of the WBS, the
result of the development of the existing WBS system.
The development of this WBS involved Deloitte as an
independent consultant. Previously, this system was
managed internally by the Audit Committee of PT Telkom,
which submitted complaints via 4 (four) channels,
namely email, telephone number, fax and website. With
the existence of Deloitte, the complaint channels are
divided into 7 (seven) channels, which are independent
and confidential. Complaint handling policies and
procedures within the TelkomGroup have been set
forth in Kep. Dekom No. 01/KEP/DK/2022 dated January
25, 2022 and has been ratified by Directors Regulation
number: PD.622/r.00/HK200/COP-C0000000/2022 dated
February 22, 2022.
246
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
PROTECTION TO THE
COMPLAINANT
Telkom guarantees the protection of the identity of the
reporter who utilizes the WBS mechanism. This is based
on the following internal policies:
1. Resolution of the Board of Commissioners No. 08/
KEP/DK/2016 dated June 8, 2016, regarding Policy
Procedures for Complaints Handling (Whistleblower)
of PT Telkom Indonesia (Persero) Tbk and Consolidated
Subsidiaries.
2. Directors Regulation No. P.6.618.00/r.00/HK200/
COP-C0000000/2016 dated December 21, 2016.
3. Resolution of the Board of Commissioners No. 01/KEP/
DK/2018 regarding Standard Operating Procedure of
the Whistleblower System at Perusahaan Perseroan
(Persero) PT Telekomunikasi
Indonesia, Tbk and
Consolidated Subsidiaries.
Telkom follows up on any complaints or reports through
WBS by prioritizing confidentiality and the principle
of presumption of innocence. The aim is to encourage
parties to have courage and feel safe in submitting
reports of violations without any fear or worry.
THE COMPLAINT HANDLING
Telkom operates Whistleblowing System mechanism
under responsibility of Audit Committee. In practice,
WBS mechanism refers to Financial Service Authority
Regulation No. 55/ POJK.04/2015 and Sarbanes-Oxley
Act 2002 Section 301 regarding Public Company Audit
Committee. All complaint reports handled by Audit
Committee cover the following topics:
1. Accounting and auditing.
2. Violation of regulation.
3. Fraud and/or the allegation of corruption.
4. Code of conduct.
In order to fulfill a responsible and not defamatory
complaint report against someone, Telkom determines
certain complaint requirements. Report can be followed
up immediately if the truth and accuracy of the complaint
information has been supported by sufficient data.
Some WBS complaints could not be followed up due to
inaccurate and unreliable data and information.
247
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk
COMPLAINT HANDLING MECHANISM
The following is a diagram of the mechanism for handling violations reported through Telkom WBS.
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248
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
THE PARTY THAT MANAGES THE COMPLAINT
WBS mechanism at Telkom is managed by several parties which are Whistleblower Protection Officer (WPO), Audit
Committee, and Investigation Committee with their respective duties and responsibilities.
Whistleblower Protection Officer (WPO) is a member of Audit Committee whose job is to handle complaints by doing
the following:
1. Receiving the complaint.
2. Administering the complaint.
3. Conducting the initial verification of whether the complaint is in line with the criteria.
4. Monitoring the follow up of the complaint.
The Audit Committee through meetings determines decisions relating to:
1. Approval to follow up or not to receive complaints.
2. Approval whether the complaint is followed up to internal or external parties.
3. Assessment whether the follow up of complaints is adequate or not.
Internal Auditors play a role in:
1. Conducting the initial assessment of the complaint received by Audit Committee.
2. Preparing initial assessment reports and submitting the reports to the President Director to be copied to Audit
Committee.
The Investigation Committee has a role in:
1. Conducting further investigation upon the complaint that has been initially assessed by Internal Auditor.
2. Preparing reports on the result of further investigation and submitting the reports to the President Director to be
copied to the Audit Committee.
THE RESULT OF COMPLAINT HANDLING
Throughout 2022, Telkom has received 26 complaints that meet the criteria for follow-up. Of the 26 complaints, 16
complaints were declared closed and 10 others were waiting for additional data to ensure the next follow-up.
Website
Email
P.O Box
Fax
Hotline WhatsApp
SMS
Reporting Channel
Total in
2022
Category
Accounting issues and
internal control over financial
reporting
Auditing issues
Violation of the laws and
regulations of the capital
market relating to the
company's operations
Violation of internal
regulations
Fraud and/or abuse of the
position
Disgraceful behavior
Gratuities and bribes
0
0
0
9
4
1
0
Total in 2022
14
0
0
0
3
4
0
0
7
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5
0
0
0
5
0
0
0
0
0
0
0
0
0
0
0
17
8
1
0
26
249
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk COMPARISON OF COMPLAINT HANDLING WITH THE PREvIOUS yEAR
Description 2022
Jumlah
2022
(Deloitte)
2021
2020
Total Complaints:
Qualified:
Follow-up
Closed (not proven / not fulfilled)
Additional Data
Further studies according to the
procedure
129
26
16
9
1
36
0
0
0
0
48
1
1
0
1
Remarks
complaints received
complaints worthy of actions
THE COMPLAINT HANDLING
MECHANISM
1. The organizational unit or other party appointed as
the party responsible for receiving complaints in the
whistleblowing system monitors incoming complaints
from all existing distribution channels as mentioned in
point V above;
2. The complaints received are reviewed and verified to
ensure that the complaint meets the requirements
to be determined as a valid complaint and will be
processed further. Meanwhile, complaints that do not
meet the requirements are not processed and stored
as archives for the Whistleblowing Manager;
3. Complaints that meet the requirements and will
be processed further, are sorted based on the level/
levelling being complained about and submitted to:
a. The Board of Commissioners through the Audit
Committee, for complaints against one or more
members of the Board of Directors of Telkom
(including the Main Director), employees on duty at
Telkom’s Internal Audit Unit or employees within the
supporting organs of the Board of Commissioners;
b. Main Director of Telkom through SVP Internal
Audit, for all complaints against all TelkomGroup
employees including members of the Board of
Directors and/or Commissioners of Subsidiaries,
except for Telkom Directors and Telkom employees
who serve in the Internal Audit Unit;
c. Ministry of BUMN, for complaints against the Board
of Commissioners.
4. For complaints that meet the requirements as referred
to in point 3.a. and 3.b. above, an in-depth study is
carried out through a preliminary examination by the
company’s Internal Audit Group Unit (IAG) or other
independent parties if necessary, and a Preliminary
Examination Report (LHP) is prepared to be submitted
to the Audit Committee and the Main Director;
5. Based on the Preliminary LHP received from the IAG
Unit or an independent party, the Audit Committee
and/or Main Director through the appointed Team,
will evaluate and decide whether the results of the
inspection need to be followed up and processed
further or not need to be followed up and stored as
files;
6. For LHP which needs to be followed up and requires
the assistance of an independent party, approval
will be sought from the Board of Commissioners.
While the follow-up of LHP which does not require
the assistance of an independent party, a Letter of
Request for Internal Investigation is made from the
Audit Committee and/or IAG to the Main Director;
who then assigned the Investigation Committee to
conduct an investigation;
7. In the event that the Board of Commissioners agrees
to use the assistance of a Consultant/Independent
Third Party, the Audit Committee will select, appoint
and assign the selected Consultant/Independent
Third Party to conduct an investigation and prepare
an LHP for the investigation or examination that has
been carried out;
8. If the Board of Commissioners does not approve the
use of independent party assistance, then the LHP
that needs to be followed up is processed by making
an Internal Investigation Request Letter to the Main
Director as stated in point 6 above.
250
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
INVESTIGATION PROCESS
The investigation process as a follow-up to the Preliminary
LHP is carried out by an Investigation Committee formed
by the President Director with the following procedure:
1. The Investigation Committee examines the issues to
be investigated as stated in the Preliminary LHP to
determine whether the investigation process requires
the assistance of an expert or whether it concerns
a subsidiary company. If the investigation process
in a subsidiary
concerns personnel and/or units
company, the Investigation Committee will convey this
matter to the President Commissioner and Directors
of the subsidiary in question;
2. In the event that Expert assistance is required, the
Investigation Committee will ask the Main Director to
process the appointment and assignment of Experts
to handle the investigation in question;
3. If the investigation does not require the assistance
of Experts, the Investigation Committee will form an
Investigation Team whose members include personnel
from subsidiaries (if needed) to carry out the necessary
investigations and prepare an Investigation Report;
4. The Investigation Report is submitted to the President
Director and/or the Telkom Audit Committee as
material for evaluation of the company’s management
to be followed up to the next stage (if necessary).
COOPERATION HANDLING
OF INTEGRATED WBS
On March 2, 2021, Telkom together with 26 other SOEs
and Corruption Eradication Commission (KPK) signed a
Perjanjian Kerja Sama (PKS) or Cooperation Agreement
of Complaint Handling as an effort to eradicate corruption
through an integrated Whistleblowing System (WBS).
The scope of the cooperation agreement
includes,
among others:
1. Formulation and/or strengthening of the internal rules
for handling complaints;
2. Commitment to complaint handling management;
3. Handling complaint through application;
4. Coordination and
complaints; and
joint activities
for handling
5. Exchange of data and/or information.
Further discussion of WBS can be found in Sustainability
Report.
POLICY REGARDING REPORTING SHARE
OWNERSHIP OF DIRECTORS
AND COMMISSIONERS
Provisions regarding periodic reporting of any changes in
share ownership directly or indirectly from each member
of the Board of Directors and Board of Commissioners
of Telkom are regulated in Board Manual of the Board
of Directors and the Board of Commissioners listed in
the Joint Regulations of the Board of Commissioners
and Board of Directors Number: 05/KEP/DK/2022 and
Number:
PD.620.00/r.01/HK200/COP-M4000000/2022
regarding Guidelines for the Work Procedures of the
Board of Commissioners and Directors (Board Manual)
of the Company (Persero) PT Telekomunikasi Indonesia,
Tbk. This is also done by Telkom to comply with Financial
Service Authority Regulation No.
11/POJK.04/2017
regarding Ownership Report or Any Change in Share
Ownership of a Public Company. In the 2022 Financial
Year Annual Report, Telkom provides information on
share ownership by members of the Board of Directors
and Board of Commissioners, as well as the changes in
the “Composition of Shareholders” section.
Company has routinely reported the share ownership
of members of the Board of Directors and members of
the Board of Commissioners every month and disclosed
it in the Annual Report and financial report. Member
of the Board of Directors and member of the Board of
Commissioners reports the change in share ownership
no later than three working days after the occurrence of
ownership or any change in ownership of the shares of
a Public Company. This policy applies to all member of
the Board of Directors and Board of Commissioners. As
of the end of 2022, there are no members of the Board
of Commissioners who carry out share buying/selling
transaction conducted by issuer. These activities are
reported to OJK as part of the information disclosure of
the Company’s management.
251
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk EMPLOYEE STOCK OWNERSHIP PROGRAM
Employee stock ownership program is an implementation
of a long-term performance-based compensation policy
for management and/or employees owned by Telkom as
a Public Company. In addition, the provision of long-term
compensation is one of the efforts to increase a sense of
belonging, retention, and give appreciation for employee
contributions.
Regarding the stock transfer process, employees
who become program participants are subject to
the provisions of the Lock-Up Period based on the
following levels:
a. Level BP I and II are subject to a Lock Up Period of 12
(twelve) months;
b. Level BP III and IV are subject to a Lock Up Period of
There are two stock ownership programs that have been
carried out by Telkom, namely Employee Stock Ownership
Program (ESOP) for employees and Management Stock
Ownership Program (MSOP) for management. This
program was started in 1995, when Telkom conducted
an Initial Public Offering (IPO). Then, Telkom decided to
carry out this program again on June 14, 2013.
6 (six) months;
c. Levels BP V to VII are subject to a Lock Up Period of
3 (three) months.
2. Execution Time
Telkom stock ownership program by employees and/
or management was implemented on June 14, 2013.
3. Employee and/or Management Requirements in
The following are some provisions related to the
implementation of ESOP program in 2013:
Telkom Stock Ownership Program
a. Meet Eligibility Criteria:
Subsidiaries/Affiliates whose
i. Employees of Company and Employees
of
financial
statements are consolidated in Telkom Financial
Statements;
of
ii. Directors
Subsidiaries/Affiliates whose
financial statements are consolidated, except
BOD/BOC Telkom and Telkomsel.
b. Have contributed at least 1 month in 2012;
c. In the event that employee has an inactive status in
2013, then:
i. The person concerned
is still entitled to
participate in the program, with the allocation of
stock calculated proportionally according to the
contribution of the person concerned in 2012;
ii. The person concerned did not quit at his own
request (APS), was dismissed due to a serious
violation of employee discipline, and/or quit
because he was appointed as the Board of
Directors of a SOE.
d. The program is optional with conditions: the right
to buy is non-transferable and void if it is not used
during the offer period.
4. Execution Pricing or Pricing
Whereas, in the implementation of employee stock
ownership program in 2013, Telkom set a stock transfer
price of Rp10,714 (ten thousand seven hundred and
fourteen rupiah), which is 90% of the average closing
price of stock trading for a period of 25 days prior to the
price fixing date.
1. Number of Shares
Number of shares offered during ESOP program
period in 2013 was 64,284,000 Series B stock which
were the result of buyback phase III or Treasury Stock.
The amount was allocated to each participant with the
following conditions:
a. Participants have an active status, referring to the
Band Position level, Role Category, and participant’s
contribution period as of December 31, 2012;
temporary
b. Participants have a non-active status, referring to
the Band Position level and the contribution period
during 2012, except in the event that the person
concerned dies, the contribution is calculated at
100%.
252
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE
No.
1.
2.
Date
November 14, 1995
June 14, 2013
Number of
Employees
43,218
24,993
Number of Shares
Stock value
116,666,475 shares
Rp239 billion
59,811,400 shares
Rp661 billion
(equivalent to 299,057,000 shares
after a stock split)
SIGNIFICANT LEGAL DISPUTES
Throughout 2022, Telkom faced 116 legal cases consisting of 45 criminal law cases and 71 civil law cases. Among these
cases, 48 cases are a continuation of cases from the previous period, while the remaining 68 cases are cases that
began in 2022. Until the end of 2022, there are 62 cases that have not been completed and the process will continue
for the next period.
RECAPITULATION OF LAWSUITS CASES IN 2020-2022
Status
2022
Legal Issues
2021
2020
In process
Final and binding (inkracht)
Sub Total
Total
Criminal
Civil*
Criminal
Civil
Criminal
Civil
18
27
45
44
27
71
18
10
28
28
14
42
29
4
33
36
7
43
116
70
76
Remark:
*Combination of Civil and Non-Litigation Cases.
Throughout 2022, apart from the legal cases faced by Telkom, there were no civil or criminal cases faced by members
of the Board of Commissioners and Directors of Telkom, both those who are still in office and those who have ended
their positions.
INFORMATION REGARDING ADMINISTRATIVE
SANCTIONS
Throughout 2022, Telkom did not receive administrative sanctions, whether members of the Board of Commissioners
and/or Directors, by the Otoritas Jasa Keuangan (OJK) and other authorities.
253
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk INFORMATION ACCESS AND COMPANY‘S
PUBLIC DATA
Stakeholders can easily access Telkom
information
through various approaches and media. This is done
because Telkom continues to strive to establish good
relations with all Stakeholders and comply with Financial
Service Authority Regulation No. 31/POJK.04/2015
regarding Disclosure of Material Information and Facts
by Issuers or Public Companies. Until the end of the 2022
period, Telkom has provided several approaches and
media as communication channels as follows:
1. General Meeting of Shareholders (GMS)
.
GMS is a medium for Telkom to convey information
related to the Company’s performance to Shareholders.
Shareholders can participate in strategic decision
making, for the betterment of the Company.
PPID Telkom has an E-PPID channel as an online
service facility for requests for public information and
as a form of implementing information disclosure
in the TelkomGroup which can be accessed via the
https://eppid.telkom.co.id/sites page.
5. Meeting with Analyst and Investor
Telkom always held meetings with Analyst and
Investor. This meeting is held for Telkom to provide
information on the Company’s performance and
prospects as well as providing the latest information on
the telecommunications industry in general. In times
of pandemic, meetings with Analyst and Investor are
held online.
2. Media
6. Contact via E-Mail
Throughout 2022, Telkom made news releases and
sent them to the mass media to disseminate Company
information to Stakeholders.
3. Website
Telkom’s website is available in two languages, namely
Indonesian and English, with a page www.telkom.co.id
page. Stakeholders can access the latest information
on profits, GCG practices, implementation of CSR
programs, job opportunities and career development,
as well as Telkom products. In addition, Stakeholders can
also access Telkom reports, including Annual Report,
Financial Report, and other report.
4. Information and Documentation Management
Officer (PPID)
PPID a form of transparent and accountable corporate
public information service to fulfill the rights of
in accordance
applicants for public
with statutory provisions.
is
responsible for carrying out the functions of storing,
information.
documenting, and/or serving public
is an official who
information
One of the corporate contact facilities listed on the
Telkom website is in the form of e-mail contacts, which
can be used by Stakeholders to communicate with
each other. Specifically, Telkom customers can use the
e-mail address customercare@telkom.co.id, while the
e-mail address Investor@telkom.co.id is intended for
Investor.
7. Internal Media
Telkom has an Intra Telkom bulletin which is managed
as a means of information, education, and outreach to
all internal employees of the Company.
8. Social Media
In line with the current digital era, Telkom uses a variety
of social media to reach out to Stakeholders and the
wider community. Besides that, This communication
channel is also useful for communicating with young
people who are very familiar with digital media and
social media today.
Social Media
Twitter
Facebook
Instagram
youTube
Tiktok
Account
Followers/
Subscribers/
Fans
@TelkomIndonesia
Telkom Indonesia @telkomindonesia
Telkom
Indonesia Official
Tiktok
Telkom Indonesia
150.1K Followers
526,437 Fans
553K Followers
19.5K Subscribers
61.3K Subscribers
Remark:
Data as of December 31, 2022.
254
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE CORPORATE CODE OF CONDUCT
CODE OF CONDUCT’S IMPLEMENTATION FOR BOARD OF
DIRECTORS, BOARD OF COMMISSIONERS AND EMPLOYEES
The code of ethics within the TelkomGroup is regulated in Directors Regulation No.PD.201.01/2014 regarding Business
Ethics within the TelkomGroup and Regulation of the Director of Human Capital Management No.PR.209.05/r.01/
HK250/COP-A4000000/2020 regarding Employee Discipline. In addition to complying with applicable policies, the
application of Telkom’s code of ethics refers to the Sarbanes-Oxley Act (SOA) 2002 section 406.
Members of the Board of Directors, members of the Board of Commissioners, and extended families of Telkom
employees are required to implement this code of conduct. Telkom’s code of conduct regulates business ethics for the
external environment (customers, suppliers, contractors, and other external parties) as well as employee work ethics
for the internal environment (applies to fellow Telkom personnel).
In addition to code of conduct, Telkom requires employees, Directors, and the Board of Commissioners to sign an
Integrity Pact. The Integrity Pact contains the commitment of employees and Directors not to violate the integrity
and established code of conduct which includes Resolution of the Board of Directors Number KD.36/HK290/
COP-D0053000/2009.
CODE OF CONDUCT’S PRINCIPLES
The Telkom Code of Conduct, which applies, among others, regulates the main matters regarding:
1. Employee Ethics
The system of values or norms that are used by all employees and leaders in the daily work.
2. Business Ethics
The system of values or norms that are upheld by the Company as guidelines for the company, management, and
its employees to interact with the surrounding business environment.
DISSEMINATION OF THE CODE OF ETHICS AND ITS EFFORTS
TO ENFORCEMENT
Every Telkom employee who violates the code of ethics will potentially receive sanctions after going through an
investigation process and various considerations. The following table presents Telkom’s code of ethics, which regulates
provisions related to sanctions for each type of violation.
No.
Main Thing
Type of violation
Penalty
1.
Employee Work Ethics
1. Misdemeanor
Light Discipline Punishment
2.
Business Ethics
2. Moderate Violation
Moderate Discipline Punishment
3.
1.
Serious Violation
Insider Trading
Severe Discipline Punishment
Integrity Committee Decision
2. Conflict of Interest
Employee Discipline Committee Decision
3. Window Dressing
Integrity Committee Decision
4. Do gratuities
Employee Discipline Committee Decision
255
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk EFFORTS TO DISSEMINATION OF CODE OF CONDUCT
Information about ethics is conveyed to all TelkomGroup personnel by Telkom Management on a regular basis. These
materials cover the topics of GCG, Business Ethics, Integrity Pact, Fraud, Risk Management, Internal Control (SOA),
Whistleblowing, Prohibition of Gratification, IT Governance, Information Security, and other matters related to corporate
governance practices. Telkom also socializes business ethics through various media, including through e-learning.
One of the efforts to disseminate the code of ethics is to apply the obligation to each employee to make an Integrity
Pact, which is filled out and signed by all employees every year as long as they are still employees of TelkomGroup. The
table below presents information on efforts to disseminate Telkom’s code of ethics during 2022.
TELkOM’S 2022 CODE OF CONDUCT SOCIALIZATION TABLE
No.
1.
2.
3.
Oncoming
Amount Reached
E-learning
Face to face (training, communication forum/
workshop)
Socialization material through the intranet portal
9731/9,731
616/9,731
9731/9,731
REPORT ON RESULTS OF APPLICATION OF CODE OF CONDUCT
During 2022, violations of code of conducts for Employee Discipline Violations at Telkom were recorded in 13 cases
consisting of 3 cases decided with 25 perpetrators and 10 cases in process with 118 people. This number increased
compared to the previous period, which was 16 cases and consisted of 109 perpetrators. Judging from the information,
Telkom still needs to continue to improve the quality of supervision (internal control) so that violations of the code of
ethics can be reduced every year.
The following table presents data related to violations of code of conducts that processed during 2022.
RESULTS OF CODE OF CONDUCT IN 2022
Forms of Code violation
Number of Code violations
in 2022
Sanctions Given in 2022
No.
1.
Misuse of Goods/Assets/Money/
Authority-Position
12 cases
Disciplinary Punishment:
Minor
Medium
Severe
Acquitted
: 6
: 9
: 5
: 4
On Progress
: 118
Dismissal
Acquitted
Severe
Severe
: 0
: 0
: 0
: 1
2.
Absenteeism
0 cases
3.
4.
Criminal Case
Violations of Moral Norms
0 case
1 case
256
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 05 CORPORATE GOVERNANCE ANTI CORRUPTION POLICY
Telkom Indonesia as a company or issuer that has been listed on the IDX and NYSE continues to be committed to
maintaining the principles of GCG to ensure that the company continues to grow and avoids corruption, kickbacks,
fraud, bribery, and illegal gratuities. As a form of commitment in preventing all practices of corruption, kickbacks,
fraud, and illegal gratuities, Telkom Indonesia has developed programs and procedures as outlined in the following
internal policies:
1. Decision of the Board of Directors of the Company Number: KD.36/HK290/COP-D0053000/2009 regarding
Integrity Pact.
2. Company Regulation PD.201.01/r.00/PS150/COP-B0400000/2014 regarding Business Ethics in TelkomGroup.
3. Regulation of Director of Human Capital Management Number: PR.209.03/r.01/PS000/COP-A4000000/2017
regarding Obligations for Reporting on Assets of State Administrators within TelkomGroup.
4. Regulation of Director of Human Capital Management Number: PR.209.05/r.01/HK250/COP-A4000000/2020
regarding Employee Discipline.
5. Regulation of Director of Human Capital Management Number: PR.209.04/r.01/PS950/COP-A4000000/2021
regarding Gratification Control.
Telkom Indonesia has also implemented ISO 37001:2016 Anti Bribery Management System (SMAP) since 2020. Policies,
targets, and all SMAP implementation documents are outlined in ISO 37001:2016 Anti Bribery Management System
Manual and 17 Procedures.
ANTI-CORRUPTION, KICKBACKS, ANTI GRATIFICATION,
AND ANTI-FRAUD PROGRAMS AND PROCEDURES
During 2022, Telkom conducts anti-corruption training and socialization programs for employees as well as external
audits to support the implementation of anti-corruption, kickbacks, anti-gratification, and anti-fraud. Apart from issuing
internal regulations to prevent corrupt practices, kickbacks, fraud, bribery, and illegal gratification, Telkom also holds
various programs for all employees. The following are the programs implemented by Telkom Indonesia during 2022:
1. Conducting training and understanding of business ethics and signing the annual Integrity Pact, which is
mandatory for all employees.
2. Conducted Awareness and Internal Audit training on ISO 37001:2016 Anti-Bribery Management System by experts
in their fields to the team on the scope of expansion.
3. Participated in Technical Guidance Training, UPG Development, Training on Gratification Prone Points by the KPK
Anti-Corruption Education Center for UPG (Gratification Control Unit).
4. Conducting training on Lead Auditor ISO 37001:2016 Anti-Bribery Management System through an external
institution, the Professional Evaluation and Certification Board.
5. Completed Gratification e-learning training by the Anti-Corruption Learning Center (ACLC) to the Gratification
Control Unit (UPG) team and all Regional Human Capital Managers.
6. Participate in the 2022 Gratification Control Unit (UPG) personnel training for selected agencies by the Corruption
Eradication Commission.
7. Conducted ISO 19011:2018 Internal Auditor training for representatives of the scope of the Anti-Bribery Management
System certification.
8. Carry out an Internal Surveillance Audit ISO 37001:2016 Anti-Bribery Management System.
9. Conducting ISO 37001:2016 ISO 37001:2016 surveillance External Audit Management System.
10. Organized a program to commemorate World Anti-Corruption Day (HAKORDIA) within Telkom.
With the implementation of these programs within Telkom Indonesia, it is hoped that it will further enhance a work
environment that is conducive and free from corrupt practices.
257
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk 06
TANGGUNG JAWAB
LINGKUNGAN
DAN SOSIAL
258
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 06
TANGGUNG JAWAB
LINGKUNGAN
DAN SOSIAL
260
261
Brief Summary of Corporate Social Responsibility
and Environment
Corporate Social Responsibility and Environment
Program Implementation Report
259
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk BRIEF SUMMARY OF CORPORATE SOCIAL
RESPONSIBILITY AND ENVIRONMENT
The Company runs its business by considering employee rights and positive impacts on other stakeholders and
contributing to environmental preservation. Telkom implements good corporate governance through social
responsibility and environment (TJSL) or corporate social responsibility (CSR). The implementation and reporting
of the Company’s CSR program refer to generally accepted principles, including ISO 26000 Guidance for Social
Responsibility, Sustainable Development Goals (SDGs), Global Reporting Initiative (GRI), and Sustainability Accounting
Standards Board (SASB).
Based on SEOJK No.16/POJK.04/2021 regarding the Form and Content of Annual Reports of Issuers or Public
Companies, Telkom conveys information on implementing CSR in a Sustainability Report, which is separate from this
Annual Report. The basis for preparing Telkom’s Sustainability Report is OJK Regulation No.51/POJK.03/2017 regarding
implementing Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies.
Access to the 2022 Sustainability Report:
In addition, as a BUMN, Telkom implements TJSL following the Regulation of the Minister of State-Owned Enterprises
Number: PER-05/MBU/04/2021 regarding Social and Environmental Responsibility of State-Owned Enterprises as
last amended by the Regulation of the Minister of State-Owned Enterprises Number: PER-6/MBU/09/2022 regarding
Amendments to the Regulation of the Minister of State-Owned Enterprises Number: PER-05/MBU/04/2021 Regarding
the Social and Environmental Responsibility Program for State-Owned Enterprises (“PM BUMN PER-6/2022”). PM
BUMN PER-6/2022 Article 23 stipulates that reports on implementing the BUMN TJSL Program are included in the
BUMN performance annual report (Annual Report). The report on the implementation of the SOE TJSL Program is an
integral part of the Annual Report for the Corporate Social and Environmental Responsibility sub-chapter, while the
Financial Report for the MSE Funding Program is presented as an attachment to this Annual Report.
260
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 CORPORATE SOCIAL RESPONSIBILITY AND
ENVIRONMENT PROGRAM
IMPLEMENTATION REPORT
CSR SUSTAINABILITY STRATEGY
FRAMEWORK
We are committed to implementing sustainable practices
through our Social and Environmental Responsibility
Programs, supported by good organizational governance
practices. The Board of Directors also ensures oversight of
implementing the Company’s social and environmental
responsibility strategy and operations and encourages
compliance to ensure program accountability. The
Company’s sustainability program is also aligned with
environmental, social, and governance (ESG) aspects
and supports strategic business goals to maximize
sustainability performance achievements.
Telkom has carried out a sustainability strategy through
the Social and Responsibility Environment Program
(TJSL), which is realized through the Main Program
“SUSTAIN”, which is in line with the achievement of the
Sustainable Development Goals (SDGs) targets, with the
following description:
1. Speed-up inclusive education and quality healthy
life to support a prosperous and competitive nation,
namely encouraging the realization of
inclusive
education and good quality of healthy life to help a
profitable and competitive nation through digital
infrastructure support and digital talent education to
support increased literacy national digital.
2. Uplift sustainable infrastructure and encourage
greeneration to increase climate change resiliency,
namely supporting the realization of sustainable
infrastructure and encouraging efforts to increase
resilience to climate change through community
empowerment and
the deployment of digital
environmental ecosystems.
3. Scale-up SME capacity and enlarge SME fund
intensify economic growth, namely
access to
increasing access and capacity of Micro and Small
Enterprises (SME) to financial services to expand
employment, improve labor productivity and promote
economic growth by intensifying channels’ quality
and strengthening loan repayment capacity.
4. Transform excellent MSME platform to build up
digital engine value creation, namely accelerating
digital platform transformation for superior MSEs
to form digital economic growth centers through
increasing MSE digital literacy and digital market
penetration and accelerating the utilization of BUMN
houses.
5. Assure good TJSL governance, risk and compliance
management reinforcement, namely maintaining
accountability aspects of the management of the
TJSL Program and aspects of the implementation of
risk management and compliance through quality
improvement and evaluation of governance, as well
as overseeing audit processes and management
reporting.
6. Intensify
and
communication for TJSL program impact through
partnership/collaboration, namely activating the
publication of the
implementation of the TJSL
program by prioritizing communication from aspects
of the impact of the Telkom TJSL Program through
multi-stakeholder partnerships/collaborations.
branding
impact
strong
7. Nurture TJSL process digitization and data analytics
to enable data-driven decision making, namely
strengthening the transformation of digitization and
digitalization of the management of the TJSL Program
through
information
systems, utilizing data analytics and decision support
systems in strategic decision making.
improving and maintaining
COMMITMENT AND POLICY ON
SOCIAL AND ENVIRONMENTAL
RESPONSIBILITY
The legal basis for implementing Corporate Social and
Environmental Responsibility activities refers to the
Regulation of the Minister of State-Owned Enterprises
Number: PER-05/MBU/04/2021 regarding Social and
Environmental Responsibility of State-Owned Enterprises
as last amended by the Regulation of the Minister of
State-Owned Enterprises Number: PER-6/MBU/09/2022
regarding Amendments to the Minister of State-Owned
Enterprises Regulation Number: PER-05/MBU/04/2021
regarding Social and Environmental Responsibility
Programs for State-Owned Enterprises. In addition, the
guidelines for implementing the TJSL Program refer to the
Shareholders/Capital Owners Aspiration Letter No. S-787/
MB/10/2021 dated 8 October 2021 regarding Aspirations
of Shareholders/Capital Owners for Compilation of the
Company’s 2022 Work Plan and Budget. To carry out
this obligation, Telkom has formulated regulations and
policies as operational guidelines in implementing the
TJSL Program, namely Regulations Board of Directors No.
PD.703.00/r.00/HK200/CDC-A1000000/2021,
regarding
Social and Environmental Responsibility Programs.
261
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk For Telkom, the TJSL program is one of the efforts to
contribute to improving the welfare and quality of life
of the community in a sustainable manner. Through
the TJSL Program, Telkom carries out strategic steps
in the social and environmental fields to support the
Sustainable Development Goals (SDG), namely:
1. Social assistance in the framework of increasing
2.
community welfare;
Initiatives to improve the quality of nutrition and
community food security;
3. Health assistance in the context of new normal
4.
adaptation;
Increasing digital inclusion as an effort to equalize
access to quality education for the nation;
5. Digital certification program for vocational;
6. Digital competency
improvement program
for
millennials;
7. Empowerment of groups with disabilities to increase
8.
9.
the independence of vulnerable communities;
Improving community hygiene through the provision
of proper sanitation and clean water facilities;
Increasing access to funding and capacity building
for MSEs;
10. Utilization of digital platform solutions for MSEs;
11. Infrastructure to support mobility and local economic
growth;
12. Development of independent assisted villages;
13. Sustainable settlement development programs;
14. Reduction of e-waste through recycling of digital
devices;
15. Integrated waste management solutions and circular
economy development;
16. Reducing the greenhouse gas effect through planting
mangroves and coral reefs;
17. Handling climate change through restoration and
conservation of fostered forests;
18. Strengthening
institutional synergy
to prevent
violence and terrorism;
19. Student social project competition: Innovillage; and
20. Activate
the Employee Volunteering Program
through social project incubation (Ayo Bikin Nyata).
Telkom seeks to encourage socially responsible behavior
in all parts of the organization, including the parent
company and Subsidiaries’ units, functions, and divisions.
This is done by disseminating core values and developing a
corporate culture for all TelkomGroup people. In addition,
employee involvement was carried out in the Employee
Volunteering Program (EVP) through an employee
social project incubation with the Ayo Bikin Nyata (Let’s
Make Real) program. Implementation of the Social and
Environmental Responsibility Program (TJSL) is under the
authority of the Community Development Center (CDC)
unit, specifically publication of the implementation of
the Company’s CSR Program is under the authority of the
Corporate Communication Sub-Department.
In carrying out the TJSL Program, Telkom encourages
and ensures the active role of stakeholders in planning
and formulating an integrated, directed, and measurable
TJSL Program to create added value for the Company.
TelkomGroup continues to strive to create shared values
for stakeholders.
262
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 REALIZATION OF SOCIAL AND ENVIRONMENTAL
RESPONSIBILITY (TJSL) PROGRAM 2022
In 2022, the total funds realized for implementing the TJSL Program amounted to Rp372.24 billion, an increase of 4.7%
from 2021. The table for the realization of the implementation of the TJSL Program in 2022 is as follows:
No.
1.
2.
3.
4.
TJSL Pillars
Realizations
(Rp Billion)
Social Pillar
Economic Pillar
Environmental Pillar
Pillars of Law and Governance
Total
72.99
259.24
37.57
2.43
372.24
263
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk TJSL REALIZATION PER PRIORITY SECTOR
I. TJSL Program Focus on Education Sector
No.
1.
2.
3.
4.
Featured Program
Descriptions
SDGs
Realizations
Increasing digital
inclusion as an effort to
equalize access to the
quality of the nation’s
education
Digital certification
program for vocational
Digital competency
improvement program
for millennials
Empowerment of
groups with disabilities
to increase the
independence of
vulnerable communities
Telkom’s efforts in helping schools and
students to gain internet & computer
access as well as improving ICT
(Technology, Information, and Computer)
skills for learning purposes in 3T (Foremost,
Outermost, and Disadvantaged) areas,
through the use of IndiHome fiber optic
technology, Orbit, and Satellite Mangoesky.
Telkom’s efforts to support the
improvement of digital education
competence in Indonesia through the
implementation of a digital certification
program for high school/vocational high
school graduates.
Telkom’s commitment to supporting
digital education competence in Indonesia
on an ongoing basis by holding a Digital
Bootcamp for Millennials through the role
of Rumah BUMN.
Telkom assists in the form of digital
application devices and software for
disabilities as well as digital training and
certification for persons with disabilities to
increase the independence of vulnerable
communities, which are carried out at
several location points.
364 location points
18,200 Benefit
recipients
4,917 registrants
1,040 participants
passed certification
540 schools
25 provinces
516 participants
3 location points
326 persons with
disabilities
8 location points
Education Digitalization Inclusion Program
Digital Certification Program for Vocational (DigiUp)
Digital Competence Improvement Program for Millennials
(Coding for Millennials)
Empowerment of groups with disabilities in order to
increase the independence of vulnerable communities
264
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 II. TJSL Program Focus on the Environmental Sector
No.
1.
2.
3.
4.
Featured Program
Descriptions
SDGs
Realizations
Reduction of e-waste
through digital device
recycling
Integrated Waste
Management Solutions
and Circular Economy
Development
Reducing the effect
of greenhouse gases
through the planting
of mangroves and coral
reefs
Handling Climate Change
through restoration and
conservation of fostered
forests
Telkom’s efforts in reducing the amount
of electronic waste, through collection by
means of donations, sorting, and repairing
to be further distributed as an educational
support tool for community groups in
need.
Telkom initiates the development of
integrated waste management by
piloting in Tuksongo Village, Borobudur,
through processing household waste into
economically valuable products so that it
can generate social, environmental, and
community economic benefits.
Telkom has carried out the rehabilitation of
coral reefs, cultivation of mangroves, and
planting of trees/greening as an effort to
reduce the greenhouse gas effect.
191 electronic devices
12 beneficiary
communities
1 ton of managed waste
generation
70 kg of generated
waste that is recycled
Rp7.5 million per month
of circular economy
income
31,550 mangrove
plantings
550 coral reef substrates
Efforts to deal with climate change through
planting tree seeds scattered in several
locations.
48,100 tree seedlings/50
ha
5 location points
Eduvice: Electronic Waste Reduction Program through
Digital Device Recycling
Integrated Waste Management and Circular Economy
Development - TPS Balkondes Tuksongo
Mangrove and Coral Reef Cultivation Program
Handling Climate Change through Fostered Forest
Conservation
265
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk III. TJSL Program Focus on Development of MSEs
UMK funding and UMK Development Program grants are formulated through the 3C approach, namely access to
capital, access to competence, and access to commerce. Through this program, Telkom is committed to strengthening
the capacity of Fostered MSEs to contribute to national economic growth and are oriented towards creating added value
for the Company. The realization of the 2022 MSE Development Program Implementation is as follows:
No.
1.
2.
3.
Featured Program
Descriptions
SDGs
Realizations
Increasing MSEs access to
Financial Services (Access
to Capital)
Strengthening MSE
Business Capacity
through coaching of Go
Modern and Go Digital
(Access to Competence)
Penetration of digital and
global market access:
online marketplace, and
virtual expo (Access to
Commerce)
Telkom distributes the MSE Funding
Program as working capital and increases
the business capacity of the MSEs assisted.
The loan is channeled to fostered MSEs
engaged in various business sectors such
as industry, trade, livestock, plantations,
fisheries, agriculture, services, and others.
MSE competency improvement programs
through skills training and certification,
including Halal and PIRT (Home Industry
Products), and assistance in making
NIB (Business Identification Number).
In addition, the Access to Competence
program is carried out by digitizing
business activity solutions to increase the
productivity of MSEs.
Acceleration of promotion of UMK products
through marketplaces and virtual expos to
increase UMK market access for consumers
without having to open physical outlets .
Rp247.47 billion
disbursement of PUMK
funds
5,032 Fostered MSEs
15,261 UMK Go Modern
15,135 UMK Go Digital
1,362 Halal & PIRT
Certifications
3,785 NIB
UMK Go Online: 5,793
UMK Go Global: 21
Fostered UMK-Craft Category (Omah Wayang Maju Karya)
Fostered UMK-Craft Category (diTUTA)
Fostered UMK-Food Category (Yanies Cookies)
Fostered UMK-Fashion Category (Ozzy Batik)
266
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 REALIZATION OF THE COMPANY’S CREATING SHARED VALUE
PROGRAM
Creating Shared Value (CSV) is a strategic step for the company to create social and economic value with the community.
CSV implementation is expected to contribute to efforts to resolve socioeconomic problems and improve social welfare.
Throughout 2022, the implementation of the TJSL Program with the CSV approach will be realized through 2 (two)
programs, namely:
Descriptions
Social Benefit
Business Benefit
Realizations
No.
1.
CSV
Programs
Student
social project
competition:
Innovillage
The potential for increasing
the socioeconomic
benefits of the community
at the location of the
implementation of the social
project
Innovilage is a socio-
digipreneurship
incubation for
students, collaborating
with universities
throughout Indonesia
to provide solutions
to community social
problems, as well as
a corporate digital
talent crowdsourcing
program.
2.
Utilization
of Digital
Platforms for
MSEs
Telkom initiates
the utilization of
digitization solutions
for MSME business
activities through
application & digital
platform utilization
and product
commercialization
through digital
e-commerce.
- Encouraging MSE digital
literacy toward increasing
user adoption of digital
service utilization
- Helping MSEs to innovate
to develop business
quickly to be applied
independently
- Encouraging MSEs to
upgrade through the
implementation of
digitization
- Telkom has
an inventory
of applicable
digital solutions
to be developed
to market
validation
- Telkom has
Company Digital
Talent Pool
profiling
- Increase the
number of
subscribers and
user traction on
digital platforms
for MSEs
- Increase
usage digital
connectivity
• 1,442 registrants
• 402 social project
proposals
• 120 colleges
• 150 social projects
funded
• 25 Provinces
distributed social
projects funded
• 137 districts/
cities with social
projects funded
• 450 Digital Talent
Candidates
• 620 UMK Class Up
• 14,930 active UKM
Access users
• 1,767 active users
of mySooltan
• 2,506 active PaDI
UMKM users
• 1,681 SSL High
Speed Internet
One of the Implementations of the Innovillage Social Project:
Internet of Things for Hydroponic Management
Socialization of Innovillage Participants to the Villagers of the
Social Project Implementation Location
Safe and Growing Business Training with Digital Marketing
Socialization of the Use of the QREN Application for MSEs
267
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk COLLABORATION TJSL PROGRAM REALIZATION
Telkom also contributes to implementing the Collaborative TJSL Program with the Ministry of SOEs and others.
Throughout 2022, the Collaborative TJSL Program has been implemented, which represents three focus priority areas,
namely environment, education, and MSE development, including:
Programs
Program Realization
SOEs Collaboration
No.
1.
SOEs Service Volunteer
Program
The BUMN Bakti Volunteer Program provides
opportunities for all BUMN employees with
the involvement of Telkom as many as four
employees with locations spread in Surakarta,
Karangasem, Banten, and Anambas.
Apart from that, Telkom also participated by
becoming the coordinator in the Lampung
area, Way Kambas. The BUMN Bakti programs
implemented in this area include: (1)
Educational Assistance for the Rainbow Root
Reading Gardens, (2) Assistance for Honey
Farming MSMEs, (3) Environmental Assistance
for Elephant Posts and Rawa Kibang.
Telkom’s contribution to the Banten
educational assistance collaboration
program included the assistance of 3,000
school uniforms and a digital educational
device package consisting of an all-in-one
PC, projector, internet network, and screen
projector. The implementation of this program
is spread across three regencies and two cities
in Banten Province.
The BeriArti Festival through Rumah BUMN
Batam, Telkom has initiated the MSME
exhibition program with the realization of a
total of 6,000 visitors.
Telkom, Bukit Asam, PTPN VII
Telkom, BRI, Bahana PUI, Angkasara
Pura II, Danareksa, and PLN
Telkom, Mandiri, BRI, BTN, BNI,
Pertamina, PLN, Inalum, Pegadaian,
and BUMN Foundation
2.
Educational Assistance
Collaborative Program
3
UMK Exhibition
Collaboration Program
Festival BeriArti: Collaboration for the UMK Exhibition
Organizing Program
Telkom Employees Selected to Become SOE Service
Volunteers 2022
Implementation of the 2022 BUMN Volunteer Program in
Lampung
Distribution of Computer Packages in the Context of
Educational Aid Collaboration Program in Banten
268
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 MSE FUNDING PROGRAM
The MSE Funding Program (Access to capital) is a community economic empowerment program with the primary
objective of expanding access to credit for MSEs through financing in the form of capital assistance loans with
relatively low levels of administrative services. The management of the MSE Funding Program run by Telkom is
also strengthened through the digitalization process, making it easier for MSEs to access loan applications, obtain
information, and monitor installment history.
Throughout 2022, the UMK Funding Program funds that have been distributed by Telkom amounted to Rp237.52
billion to 5,032 MSEs engaged in the industrial, trade, agriculture, livestock, plantation, fisheries, services, and other
business sectors. The following is data on the realization of the number of Fostered Partners and the distribution of
MSE Funding funds per business sector from 2020 to 2022.
Table of Distribution of Funds for the MSE Funding Program and the Number of Telkom Fostered Partners
No.
Business Sectors
Number of Fostered Partners
Total Distributions
(Rp Billion)
1.
2.
3.
4.
5.
6.
7.
8.
Industry
Trading
Agriculture
Farm
Plantation
Fishery
Service
Others
Total
Growth (%)
2022
2021
2020
2022
2021
2020
1,012
2,836
112
140
49
104
760
19
5,032
(6.29)
1,095
2,929
110
146
50
117
847
76
5,370
5.48
1,043
2,795
100
168
45
99
807
34
5,091
(8.15)
48.98
128.50
6.02
6.98
2.51
4.93
38.89
0.71
47.12
118.75
5.07
6.27
2.32
4.91
35.83
3.01
45.10
112.74
4.46
7.38
2.02
4.81
33.11
0.93
237.52
223.28
6.37
6.04
210.55
(12.53)
The number of UMK Funding Program Foster Partners in 2022 decreased by 6.29% compared to 2021, while the amount
of funds disbursed in 2022 increased by 6.37%.
269
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk FUND DISTRIBUTION EFFECTIVENESS OF MSE FUNDING
PROGRAM
In 2022, Telkom targets the effectiveness of the distribution of PUMK Program funds at 90% of the available funds,
with the realization reaching 95.11% (score 3). This achievement has been consistent in the last three years as a form of
the company’s commitment to empowering the national MSE sector.
Table of Effectiveness of Distribution of Telkom Partnership Program Funds
Partnership Program
Unit
2022
2021
2020
Amount of Funds Disbursed
Amount of Funds Available
Level of Effectiveness of Funding
Funding Effectiveness Level Score
Rp billion
237.52
223.28
221.66
Rp billion
238.35
231.92
225.58
%
95.11
96.58
98.27
3
3
3
MSE FUNDING PROGRAM REFUND COLLECTIBILITY
The realization of collectibility of refunds for the Telkom UMK Funding Program in 2022 reached 76.07% (score 3), with
a collectibility target of 70%. This performance has been relatively consistent in the last three years, as a form of the
company’s success in managing loan funds for the UMK Funding Program.
Partnership Program Refund Collectibility Table
Collectibility
Collectibility Percentage
Score
Unit
%
2022
2021
2020
76.07
74.82
74.03
3
3
3
270
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 CAPACITY BUILDING OF FOSTERED MSES
Types of UMK Development Programs
Training
• Report training simple
finance
• Offline Marketing Training
• MSME Skills Training
Product Packaging
• Product photo assistance
• Packaging grants product
Digitization
•
Introduction to
Digitalization Business
and Marketplace
• Digital Training
Marketing
UMK
DEVELOPMENT
PROGRAMS
Networking
• Business Matching
• Benchmark
• Local Sharing (local hero/
plasma/Podcast)
Online Onboarding
• Marketplace Optimization
• Advanced Digital Marketing Training
• B2B Marketing Training
Legal Assistance
• NIB Registration at OSS
• SPP-IRT/Halal/BPOM/IPR
Licensing
Exhibition
• Curation
• Offline Exhibition Event (Local/
Regional/International)
To support MSEs’ efforts to upgrade, Telkom has developed the capacity of MSEs through the Go Modern and Go
Digital programs, expanding market access through the Go Online and Go Global programs, and other activities to
increase the productivity of the assisted MSEs. One of Telkom’s efforts to increase the capacity of Fostered MSEs is
to participate in the Dubai Expo 2022 exhibition, WSBK, and Mandalika MotoGP 2022, as well as the Proudly Made
in Indonesia National Movement Program 2022 (Program Gerakan Nasional Bangga Buatan Indonesia 2022). This
exhibition presents various products from Telkom’s Leading MSEs such as fashion, food, and crafts, which are the
mainstay products of Indonesia’s creative economy. In addition, the UMK Development Program activities are carried
out by increasing the competence of UMK, including by holding mindset, skill-set, tool-set training, as well as assisting
UMK in obtaining certification and business licenses. The achievements of the UMK Development Program are
presented in the following table:
Table of Achievements of the 2022 UMK Development Program
No.
Program Type
Achievement of Fostered UMK
1.
2.
3.
4.
5.
6.
7.
8.
9.
UMK Go Modern
UMK Go Digital
UMK Go Online
UMK Go Global
Certifications (Halal and PIRT)
NIB Assistance
Mindset Training
Skillset Training
Toolset Training
15,261
15,135
5,793
21
1,362
3,785
102
1,284
239
271
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk DISTRIBUTION EFFECTIVENESS OF SOCIAL AND
ENVIRONMENTAL RESPONSIBILITY PROGRAMS
In setting the 2022 target, Telkom is expected to be able to distribute 100% of the TJSL program from the budget
allocation of Rp125 billion. The realization of the TJSL Program in 2022 is Rp124.78 billion or 99.82% of the budget
allocation for that year.
Table of Effectiveness of Telkom’s Social, Economic and Environmental Empowerment Program Distribution of Funds
Community Development Program
Unit
2022
2021
2020
Amount of Funds Disbursed
Fund Allocation Available
Level of Effectiveness of Funding
Rp billion
124.78
124.76
124.73
Rp billion
125
125
124.74
%
99.82
99.80
99.99
BUDGET ALLOCATION OF SOCIAL AND ENVIRONMENTAL
RESPONSIBILITY PROGRAM
In accordance with the regulations of the Ministry of SOEs, the sources of funds for the TJSL Program are part of the
budget, which is calculated as the Company’s costs and a provision for a portion of the Company’s net profit in the
previous fiscal year. The total TJSL budget increased from Rp345 billion in 2021 to Rp355 billion in 2022. The increase
in the budget allocation for the TJSL program was due to an additional 4.5% budget allocation for the MSE Funding
Program due to the rise in the number of available funds.
Telkom Social and Environmental Responsibility Program Budget Allocation Table
No.
1.
2.
Program Type
MSE Funding Program
Social and Environmental Responsibility Program
Total Number
Changes
2022
2021
2020
%
Rp billion
4.5
-
4.5
230
125
355
220
125
345
225.58
124.74
350.32
272
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 FINANCIAL STATEMENT
Statement of Financial Position (Rp)
ASSETS
Current Assets
Cash and Cash Equivalents
Loan to Foster Partners net of allowance for impairment
losses of Rp84,929,581,437
Total current assets
Non current assets
Other assets
Troubled Loan net of allowance for impairment losses of
Rp289,951,899,219
Total non current assets
TOTAL ASSETS
LIABILITIES AND NET ASSETS
LIABILITIES
Current Liabilities
Payables and other current liabilities
Overpayment of Installments
TOTAL LIABILITIES
NET ASSETS
Without restrictions from resource provider
With restrictions from resource provider
TOTAL NET ASSETS
TOTAL LIABILITIES DAN NET ASSETS
11,599,419,605
293,000,450,534
304,599,870,139
-
-
304,599,870,139
380,916,088
203,691,711
584,607,799
304,015,262,340
-
304,015,262,340
304,599,870,139
273
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Statement of Comprehensive Income (Rp)
WITHOUT RESTRICTIONS FROM RESOURCE PROVIDER
REVENUES
Loan Administration Service Income
Interest Income
Other Income
TOTAL REVENUES
INCOME (EXPENSES)
Recovery/(Allowance) for Impairment of Loan
Other Income/(Expenses)
TOTAL INCOME/(EXPENSES)
SURPLUS
WITH RESTRICTIONS FROM RESOURCE PROVIDER
OTHER COMPREHENSIVE INCOME
TOTAL COMPREHENSIVE INCOME
NET ASSETS
WITHOUT RESTRICTIONS FROM RESOURCE PROVIDER
Statement of Changes in Net Assets (Rp)
Beginning balance
Surplus
Ending balance
Other comprehensive income
Total
WITH RESTRICTIONS FROM RESOURCE PROVIDER
TOTAL NET ASSETS
15,482,696,576
301,902,379
46,014,976
15,830,613,931
4,422,134,092
190,366,869
4,612,500,961
20,443,114,892
-
-
20,443,114,892
283,572,147,448
20,443,114,892
304,015,262,340
-
304,015,262,340
-
304,015,262,340
274
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 Statement of Cash Flows (Rp)
OPERATING ACTIVITIES
Loan repayments from Foster Partners
Payment Loan
Acceptance of Loan Administration Services
Interest Income
Distribution of Loan Funds to Development Partners
Partnership Development Fund
Partnership Development Fund Refund
Return of Excess Installments to Fostered Partners
NET CASH FLOWS RECEIVED TO OPERATING ACTIVITIES
INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS AT END OF YEAR
226,749,898,042
(372,611,905)
15,236,139,190
301,902,379
(237,524,200,000)
-
-
(236,788,598)
4,154,339,108
4,154,339,108
7,445,080,497
11,599,419,605
DIGITALIZATION OF MSE MANAGEMENT
In 2021, Telkom digitized the management of the MSE Funding Program, starting from MSE capital assistance
to monitoring loan repayments through the implementation of UKM Access. Through the UKM Access application,
it is possible to integrate the MSE management system as a whole, including with all TelkomGroup service solutions
for the MSE segment, to make the process of submitting the Telkom PUMK Program for Fostered MSEs candidates
easier, faster, and paperless.
Throughout 2022, Telkom will implement a comprehensive enhancement system based on Sustainable Development
Goals (TPB/SDGs). Furthermore, to improve the customer experience for MSEs and managers, Telkom has re-
engineered the UKM Access application to become UKM Access Reborn. It divided applications specifically for TJSL
Managers through the New Smart Survey and for Development Partners through UKM Access Reborn. In addition,
to add virtual account installment payment options, Telkom is collaborating with Bank Syariah Indonesia (BSI) with
Development Partners in Aceh City as a pilot project. Telkom also migrated the CDC Dashboard, which initially used
the Extract Transform Load (ETL) mechanism to become a machine-to-machine mechanism through the Application
Programming Interface (API), which was integrated with SIMPKBL in real-time.
In early 2022, to create a comprehensive profile of Telkom-assisted SMEs based on personal data and business data
profiles, Telkom CDC developed the One Data UKM platform. On the other hand, through One UKM Data, it is hoped
that it will become a decision-maker tool for corporate businesses, especially for offering TelkomGroup products that
are right for SMEs.
275
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk CSR ACTIVITIES SUCCESS PARAMETERS
Telkom measures the success of TJSL Program activities through community satisfaction as beneficiaries of the
TJSL Program using the community satisfaction Index (IKM) and Net Promoter Score (NPS) methods. In addition,
to measure the impact of the benefits of the CSR program, an assessment is carried out using the Social Return on
Investment (SROI) method. In 2022, the Company measured the CSR (TJSL) Index with an achievement of 83.08%.
This achievement illustrates that the CSR activities carried out by the Company are in the excellent category or at a
substantial level and positively influence the Company’s image. This is due to the increased perception of the assisted
MSEs/beneficiaries and the surrounding community towards Telkom’s CSR program, especially in the dimensions of
citizenship, governance, and workplace.
Meanwhile, the Net Promoter Score (NPS) is used to measure the success of social responsibility toward society. With
the NPS, Telkom identifies people’s motivation to recommend or promote Telkom’s products and services. The 2022
NPS measurement result of 55.53% shows a positive value from the public’s point of view in recommending Telkom
products. This increase indicates community motivation in advocating or promoting Telkom’s products and services.
The results of the 2022 NPS measurement show a positive value from the community’s point of view in recommending
the use of Telkom products.
Then, Social Return on Investment (SROI) is used to measure the beneficial impact of implementing the TJSL Program.
Throughout 2022, 3 priority programs have been calculated in Environment, Education, and MSE Development with
an average value above 1. This indicates that every rupiah that has been socially invested in the TJSL Program provides
returns in the form of more beneficial impacts of more than 1 rupiah.
AWARDS OF TJSL PROGRAM 2022
Date
Events
Awards
March 23
BUMN Corporate
Communications and
Sustainability Summit
(BCOMSS)
1st Place – CID Bidang Pendidikan
1st Place – SME Development
1st Place – Creating Shared Values
1st Place – TJSL Officer of The Year
Providing Agencies/
Institutions
Ministry of State-Owned
Enterprises (BUMN)
March 30
Top Business
July 18
Info Brand & Trans n Co
August 15
Bisnis Indonesia Award
August 26
Nusantara CSR Award
Top CSR Award 2022 #Star5 & Top Leader
on CSR Commitment 2022
Top CSR Award
Best of CSR Concept. CSR Impact and CSR
Donation Value
Top CSR of The Year
Bisnis Indonesia Award
The most Consistent Digital Telco
Company in Implementing Integrated CSR
Bisnis Indonesia
Best Program Peningkatan Mutu
Pendidikan
La Toffi Scholl of CSR
September 15 HR Online Asia Pacific
Gold Medalist on CSR Strategy
HR Excellence Award
276
PT Telkom Indonesia (Persero) TbkAnnual Report 2022CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTChapter 06 Date
Events
Awards
Providing Agencies/
Institutions
November 4 United Nations
1st Runner Up – Community Engagement &
Partnership
Women’s Empowerment
Principles (WEPs) Awards
November 11
Anugerah CSR IDX Channel
Award
1st Place – Economic Development
Initiatives
IDX Channel
November 22
Indonesia SDGs Award (ISDA)
Best of CSR Concept. CSR Impact and CSR
Donation Value
Corporate Forum for CSR
Development (CFCD)
November 23
Taiwan Institute for
Sustainable Energy
Best Practice – Global Sustainability
Program
Global Corporate
Sustainability Awards
December 1
SDG Action Award
3rd Place – Pelaku Usaha Besar
Ministry of National
Development Planning
(Bappenas)
277
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk 07
APPENDIX
278
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 07 APPENDIX 07
APPENDIX
280 Appendix 1 : Glossary
285 Appendix 2 : List of Abbreviations
289 Appendix 3 : Cross Reference to the Circular
Letter by the Financial Services Authority
No. 16/SEOJK.04/2021
310 Appendix 4 : Affiliate Transactions List
279
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk APPENDIX 1:
GLOSSARY
Glossary
Description
2G
3G
4G/LTE
5G
ADS
AKHLAK
Application
Development
Platform
ARPU
The abbreviation for second-generation: relating to or using a technology that gave mobile phone
users improved features and allowed people to send text messages (SMS).
The generic term for third generation mobile telecommunications technology. 3G offers high
speed connections to cellular phones and other mobile devices, enabling video conference and
other applications requiring broadband connectivity to the internet.
A fourth generation super fast internet network technology based on IP that makes the process
of data transfer much faster and more stable.
A fifth generation of cellular mobile communications which targets high data rate, reduced
latency, energy saving, cost reduction, higher system capacity and massive device connectivity.
American Depositary Share (also known as an American Depositary Receipt, or an “ADR”), a
certificate traded on a U.S. securities market (such as the New York Stock Exchange) representing
a number of foreign shares. Each of our ADS represents 100 shares of common stock.
Defined as Amanah (trustworthy), Kompeten (competent), Harmonis (harmonious), Loyal (loyal),
Adaptif (adaptive), and Kolaboratif (collaborative) values that underlie the behavior of SOE personnel.
Defined as an application creation platform which refers to a set of technologies that can assist
companies in designing, developing, and implementing these applications.
Average Revenue per Unit, a measure used primarily by telecommunications and network
companies that expresses how much revenue an average user generates. It is defined as the total
revenue from a particular service divided by the number of users of that service.
Artificial Intelligent
Defined as computer program developed by human on a system so that they can think like
human and can complete certain task by processing and recognizing data pattern.
B2B (Business-to-
business)
B2C (Business-to-
customer)
Backbone
The sale of products or services provided by one business and intended for another business, not
to consumers.
A business that provides services or sales of goods or services to individual or group of consumers
directly.
telecommunications network consisting of
The main
switching
facilities connecting several network access nodes. The transmission links between nodes
and switching facilities
include microwave, submarine cable, satellite, fiber optic and
other transmission technology.
transmission and
Balanced Scorecard
One of the tools used by managers to measure the performance of a business seen from four
perspectives. The four perspectives consist of a financial perspective, a customer perspective, an
internal business process perspective, and a growth and learning perspective.
Bandwidth
The capacity of a communication link.
Bapepam-LK
Badan Pengawas Pasar Modal dan Lembaga Keuangan, or the Indonesian Capital Market and
Financial Institution Supervisory Agency, the predecessor to the OJK.
Big Data Platform
Defined as a large, varied, and dynamic data processing platform.
Broadband
A signaling method that includes or handles a relatively wide range (or band) of frequencies.
BTS
SOE/BUMN
Base Transceiver Station, equipment that transmits and receives radio telephony signals to and
from other telecommunication systems.
State-Owned Enterprise/Badan Usaha Milik Negara is a government-owned company, state-
owned company, state-owned entity, state-owned company, public-owned company, or
parastatal which is a legal entity formed by the Government to conduct commercial activities on
behalf of the Government as the owner.
280
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 07 APPENDIX Glossary
CFU
Description
Customer Facing Unit, similar to a strategic business unit, which is an organizational unit that
interacts with certain customer segments, with responsibility for profit and loss respectively, and
is responsible for restructuring subsidiaries and business portfolios that are relevant to certain
business segments that being its responsibility.
Cloud Computing
The practice of using a network of remote servers hosted on the internet to store, manage, and
process data, rather than a local server or a personal computer.
Cloud Hybrid
Co-Location
The storage infrastructure that uses a combination of on-premises storage resources with a
public cloud storage provider.
Telecommunication infrastructure leasing service that owned existing sites after the first
customer or Anchor Tenant, which offers the space in telecommunication infrastructure to install
their equipments.
Common Stock
Our Series B shares having a par value of Rp50 per share.
CPE
Cyber Attack
Cyber Security
Data Center
Customer Premises Equipment, any handset, receiver, set-top box or other equipment used by
the consumer of wireless, fixed line or broadband services, which is the property of the network
operator and located on the customer’s premises.
A cyber attack is deliberate of the exploitation of computer systems, technology-dependent
enterprises, and networks. Cyber attacks use malicious code to alter computer code, logic or data,
resulting in disruptive consequences that can compromise data and lead to cybercrimes, such as
information and identity theft.
An effort to protect information from cyber attacks. Cyber attacks in information operations are
any kind of deliberate action to disrupt the confidentiality, integrity, and availability of information.
The facility composed of networked computers, storage systems and computing infrastructure
that organizations use to assemble, process, store and disseminate large amounts of data.
Data Management
Platform
Defined as a platform that manages data, such as collecting, organizing, and activating data from
various online and offline sources, for the purposes of advertising and personalization initiatives.
Deep-Link
Diarium
Digitization
The use of a hyperlink that links to a specific, generally searchable or indexed, piece of web content
on a website, rather than the website’s home page.
A tool or media that used by PT Telkom Indonesia (Persero) Tbk to distribute the information
about internal company.
Process of converting non-digital information to digital. If a company uses this digital information
to increase business, generate revenue, or simplify some business processes, it is called digitization.
The result of the digitization and digitization process is called digital transformation.
e-Commerce
Electronic commerce, the buying and selling of products or services over electronic systems such
as the internet and other computer networks.
e-Procurement
Electronic procurement, the process of procuring goods and services carried out online.
EBITDA
Adjusted EBITDA is defined as earnings before interest, tax, depreciation, and amortization.
Adjusted EBITDA and other related ratios in this Annual Report serve as additional indicators on
our performance and liquidity, which is a non-GAAP financial measure.
Edutainment
Education and entertainment.
Face Recognition
The technology capable of matching a human face from a digital image or a video frame against
a database of faces, which is typically employed to authenticate users through ID verification
services, and works by pinpointing and measuring facial features from a given image.
Fiber Optic
Cables using optical fiber and laser technology through which modulating light beams
representing data are transmitted through thin filaments of glass.
281
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Glossary
Fixed Wireline
Gateway
Gbps
GHz
Description
A fixed wire or cable path linking a subscriber at a fixed location to a local exchange, usually with
an individual phone number.
A peripheral that bridges a packet-based network (IP) and a circuit-based network (PSTN).
Gigabit per second, the average number of bits, characters, or blocks per unit time passing
between equipment in a data transmission system. This is typically measured in multiples of the
unit bit per second.
Gigahertz, The hertz (symbol Hz), is the international standard unit of frequency defined as the
number of cycles per second of a periodic phenomenon.
GraPARI
Telkomsel service network.
Graphical Processing
Unit (GPU) Farming
GSM
High Throughput
Satellite
Defined as a graphics processing usage allocation system.
Global System for Mobile Telecommunication which is the European standard for digital cellular
telephones.
Communication satellite that provides more throughput than conventional communication
satellites (Fixed Satellite Service or FSS), which refers to a significant increase in capacity when
using the same amount of orbital spectrum from 2 to more than 100 times as much capacity as
the classic FSS.
Hyperscale Data
Center
Data center that can accommodate 5,000 or more servers and has an area of more than 10,000
square feet (over 900 square meters).
Homes Passed
A connection with access to fixed-line voice, IPTV and broadband services.
In-memory database
Defined as database processing performed on memory storage media.
Insider Trading
The trading of a public company’s stock or other securities (such as bonds or stock options) by
individuals with access to nonpublic information about the company. In various countries, some
kinds of trading based on insider information is illegal.
Interconnection
The physical linking of a carrier’s network with equipment or facilities not belonging to that
network.
Internet of Things
Computing concept that describes the idea of everyday physical objects being connected to the
internet and being able to identify themselves to other devices and send and receive data.
Intranet
IP
IPO
IP Transit
IPTV
ISP
Latency
SIM cards
A computer network based on TCP / IP protocols such as the internet, however the usage is
restricted or closed and only certain people or users can log on and use the intranet network.
Internet Protocol, the method or protocol by which data is sent from one computer to another
on the internet.
Initial Public Offering, the first sale of stock by a Company to the public.
The large-scale interconnection service to the global internet with reliable performance, bundled
with extensive features, Block IP with BGP routing, and Autonomous System (AS) owned by clients.
Internet Protocol Television, a system through which television services are delivered using the
Internet Protocol suite over a packet-switched network such as the internet, instead of being
delivered through traditional terrestrial, satellite signal, and cable television formats.
Internet Service Provider, an organization that provides access to the internet.
Delay in network communications that indicating the time it takes for data to transfer across the
network.
Subscriber Identity Module card is a stamp-sized smart card placed on a mobile phone that holds
the key to the telecommunication service.
Leased Line
A dedicated telecommunications transmissions line linking one fixed point to another, rented
from an operator for exclusive use.
282
PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 07 APPENDIX Glossary
Mbps
Metro Ethernet
Description
Megabit per second, a measure of speed for digital signal transmission expressed in millions of
bits per second.
Bridge or relationship between locations that are apart geographically. This network connects
LAN customers at several different locations.
MHz
Megahertz, a unit of measure of frequency equal to one million cycles per second.
Mobile Broadband
The marketing term for wireless internet access through a portable modem, mobile phone, USB
Wireless Modem or other mobile devices.
Multimedia Data
Extraction
Defined as advances in web analytics, news, social media crawlers (such as text, sound, and
images) that are integrated with analytics engines.
Network Access Point
A public network exchange facility where ISPs connected in peering arrangements.
OJK
OTT
Postpaid
PoP
Prepaid
PSA 62
PSTN
Pulse
Otoritas Jasa Keuangan, or the Financial Services Authority, the successor of Bapepam-LK, is an
independent institution with the authority to regulate and supervise financial services activities in
the banking sector, capital market sector as well as a non-bank financial industry sector.
Over The Top, an umbrella term commonly used to refer to the delivery of audio, video and other
media over the internet without the involvement of multi-system operators in the control or
distribution of content.
A type of communication service where customers can use telecommunications services first and
then pay for them.
Point of Presence. An access point, location or facility that connects to and helps other devices
establish a connection with the Internet, which may consist of a router, switches, servers and
other data communication devices. We operate two points of presence, namely main and primary
points of presence. The "main point of presence" is the main transportation network that contains
traffic aggregates within a country. The "primary point of presence" is a collection of major regional
transportation networks that have the ability to create a service.
A type of communication service where the customer makes an advance payment in order to use
telecommunications services.
Audit Standard Statement No. 62 (PSA 62) is a statement issued by the Indonesian Accounting
Association which states that in conducting audits of financial statements of government entities
or other recipients of government financial assistance which conducts stock offers through the
capital market, auditors must comply with the provisions of the Capital Market Law.
Public Switched Telephone Network, a telephone network operated and maintained by Telkom.
The unit in the calculation of telephone charges.
Reverse Stock
The compression of shares to become a smaller amount of shares using higher value per share.
RMJ
GMS
Regional Metro Junction, an inter-city cable network installation service in one regional (region/
province).
General Meeting of Shareholders, which may be an Annual General Meeting of Shareholders
(“AGMS”) or an Extraordinary General Meeting of Shareholders (“EGMS”).
Satellite Transponder
Radio relay equipment embedded in a satellite that receives signals from earth and amplifies and
tra nsmits the signal back to the earth.
Security Insight
Platform
Self-Assessment
SKKL
Defined as a platform for generating insights on cyber security.
Guidelines are used as a form of accountability for collegially assessing the performance of the
Board of Commissioners.
Sistem Komunikasi Kabel Laut/Submarine Communications Cable System, a cable laid on the sea
bed between land-based stations to carry telecommunication signals across stretches of ocean.
283
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Glossary
Description
SKSO
SMS
SOA
SOX Section 404
Dwiwarna Share
Earth Station
Stock Split
Switching
Sistem Komunikasi Kabel Laut/Submarine Communications Cable System, a cable laid on the sea
bed between land-based stations to carry telecommunication signals across stretches of ocean.
Short Messaging Service, a technology allowing the exchange of text messages between mobile
phones and between fixed wireless phones.
Sarbanes-Oxley Act, effective from July 30, 2002, also known as the Public Company Accounting
Reform and Investor Protection Act and Corporate and Auditing Accountability and Responsibility
Act.
SOX Section 404 (Sarbanes-Oxley Act Section 404) mandates that all publicly-traded companies
must establish internal controls and procedures for financial reporting and must document, test,
and maintain those controls and procedures to ensure their effectiveness.
The Series A Dwiwarna Share have a par value of Rp50 per share. The Dwiwarna Share is held by
the Government and provides special voting rights and veto rights over certain matters related to
our corporate governance.
Antennas and related equipment used to receive or transmit telecommunication signals via
satellites.
Splitting the number of shares to increase the shares volume using a lower value per share.
A mechanical, electrical or electronic device that opens or closes circuits, completes or breaks an
electrical path, or selects paths or circuits, used to route traffic in a telecommunications network.
Fixed Line
Fixed wireline and fixed wireless.
TPE
A normalized way to refer to transponder bandwidth which simply means how many transponders
would be used if the same total bandwidths used only 36 Mt transponder (1 TPE = 36 MHz).
Treasury Stock
Stock/share which bought back/repurchased by the issuing company.
USO
Universal Service Obligation, the service obligation imposed by the Government on all
telecommunications services providers for the purpose of providing public services in Indonesia.
Various standalone
and embedded AI
capabilities
Defined as various kinds of artificial intelligence (AI) capabilities, both stand-alone and combined
with other devices, such as Indonesian Natural Language Processing (NLP), Sentiment Analysis,
Text to Speech, Speech to Text, Image Recognition for Objects Detection/Counting/Segmentation,
Machine/Deep Learning, Facial Recognition, and Robotics Process Automation (RPA).
VoIP
VPN
VSAT
Vulnerability
Management
Platform
Whistleblower
Voice over Internet Protocol, a means of sending voice information using the IP.
Virtual Private Network, a secure private network connection, built on top of publicly-accessible
infrastructure, such as the internet or the public telephone network. VPN typically employs some
combination of encryption, digital certificates, strong user authentication and access control
to secure the traffic they carry. VPN provides connectivity to many machines behind a gateway
or firewall.
Very Small Aperture Terminal, a relatively small antenna, typically 1.5 to 3.0 meters in diameter,
placed in the user’s premises and used for two-way communications by satellite.
It is a platform for managing cyber security vulnerabilities such as malware, viruses or hacking.
The term for employees, former employees or workers, members of institutions or organizations
who report actions that are considered to violate the regulation to the authorities.
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 07 APPENDIX APPENDIX 2:
LIST OF ABBREVIATIONS
Keywords
Description
Keywords
Description
A2P
ACGS
ACHI
ACMF
ADS
AGMS
Application to Person
ASEAN Corporate Governance
Scorecard
AKHLAK Culture Health Index
ASEAN Capital Market Forum
American Depositary Shares
Annual General Meeting of
Shareholders
AKHLAK
Amanah Kompeten Harmonis Loyal
Adaptif Kolaboratif
AO
AP
API
ARPU
ASEAN
ASKALSI
ATM
B2B
B2C
Application Owner
Administered Prices
Application Programming Interface
Average Revenue per Unit
Association of Southeast Asian Nations
Asosiasi Kabel Laut Seluruh Indonesia
or Indonesian Submarine Cable
Association
Automated Teller Machine
Business-to-Business
Business-to-Consumer
BAKAMLA
Badan Keamanan Laut or Maritime
Security Agency
BAM
Business Account Manager
Bapepam-LK
Badan Pengawas Pasar Modal dan
Lembaga Keuangan or Financial
Institution Supervisory Agency
BBM
BCM
BCP
BOC
BOD
BPJS
BPK
BPO
BPS
Fuel oil
Business Continuity Management
Business Continuity Plan
Board of Commissioners
Board of Directors
Badan Penyelenggara Jaminan Sosial
or Social Insurance Administration
Organization
Audit Board of the Republic of
Indonesia
Business Process Outsourcing
Badan Pusat Statistik or Central
Bureau of Statistics
BSCS
BTS
CAGR
CAPEX
CDC
CDIO
CDN
CEO
CFO
CFRO
CHCO
CITO
COCA
CONS
COSO
Batam-Singapore Cable System
Base Transceiver Station
Compund Annual Growth Rate
Capital Expenditure
Community Development Center
Chief Digital & Innovation Officer
Content Delivery Networks
Chief Executive Officer
Chief Financial Officer
Chief Financial & Risk Officer
Chief Human Capital Officer
Chief Information Technology Officer
Calendar of Culture Action
Consumer Service
Committee of Sponsoring
Organizations of the Treadway
Commission
COVID-19
Corona Virus Disease 19
CPaaS
CPE
CSLS
CRM
CSA
CSR
CSS
DB
Communication Platform as a Service
Customer Premises Equipment
Customer Satisfaction and Loyalty
Survey
Customer Relationship Management
Control Self Assessment
Corporate Social Responsibility
Corporate Strategic Scenario
Digital Business
DC Co
Data Center Co
DRP
DSL
DTH
EBIS
Disaster Recovery Plan
Digital Subscriber Line
Direct to Home
Enterprise & Business Service
Edutainment
Education and Entertainment
EGM
ERM
ESG
ESOP
Executive General Manager
Enterprise Risk Management
Environmental, Social, and Governance
Employee Stock Ownership Program
285
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Keywords
Description
Keywords
Description
ETL
EWR
EY
FHCI
FMC
Extract Transform Load
Early Warning Report
Ernst & Young
Forum Human Capital Indonesia
Fixed & Mobile Convergence
FRAMES
Fraud Management System
FRM
Gbps
GCG
GCT
GDP
GHz
GMS
GRI
GRO
GSD
GSM
Finance & Risk Management
Gigabit per second
Good Corporate Governance
Group Corporate Transformation
Gross Domestic Product
Gigahertz
General Meeting of Shareholders
Global Reporting Initiative
Government Relationship Officer
Graha Sarana Duta
Global System for Mobile
Communication
HAKORDIA
Hari Anti Korupsi Dunia or World Anti-
Corruption Day
HAM
HCM
HD
HR
HSDC
HTS
IA
IAI
IAS
ICOFR
ICT
IDN
IDX/BEI
IFAS
Hak Asasi Manusia or Human Rights
Human Capital Management
High Definition
Human Resource
HyperScale Data Center
High Throughput Satellite
Internal Audit
Ikatan Akuntan Indonesia or Institute
of Indonesia Chartered Accountants
International Accounting Standards
Internal Control over Financial
Reporting
Information and Communications
Technology
Indonesia Digital Network
Indonesia Stock Exchange/Bursa Efek
Indonesia
Indonesian Financial Accounting
Standard
IFRS
IGG
IHSG
IIA
IICD
IKM
IMF
IMS
IOH
IoT
IPLC
IPO
IPR
ISAK
ISO
ISP
IT
ITDRI
International Financial Reporting
Standard
Indonesia Global Gateway
Indeks Harga Saham Gabungan or
Composite Stock Price Index
Institute of Internal Auditor
Indonesia Institute for Corporate
Directorship
Indeks Kepuasan Masyarakat or
Community Satisfaction Index
International Monetary Fund
Integrated Management System
Indosat Ooredoo Hutchsion
Internet of Things
International Data Center or
International Connectivity
Initial Public Offering
Intellectual Property Rights
Interpretasi Standar Akuntansi
Keuangan or Interpretation of
Statements of Financial Accounting
Standards
International Organization for
Standardization
Internet Service Provider
Information Technology
Indonesia Telecommunication and
Digital Research Institute
JaKaLaDeMa
Jawa Kalimantan Sulawesi Denpasar
Mataram
Jo.
KAP
KDK
KEKD
KEMPR
Juncto
Kantor Akuntan Publik or Public
Accountant Firm
Komite Disiplin Karyawan
Ethics and Compliance & Discipline
Committee
Komite Evaluasi dan Monitoring
Perencanaan dan Risiko or Committee
for Planning and Risk Evaluation and
Monitoring
KEU
Keuangan or Finance
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Description
Keywords
Description
KIPAS
KNKG
KNR
KPI
KPK
KPPU
KTI
kWh
LED
LSE
LTE
LTI
M&A
MDI
MDM
MNO
MSOP
MSE
MTN
MTTI
MTTR
MVNO
NAP
NIB
NITS
NPS
NPWP
Komunitas Provokasi Aktivasi or
Community Cultural Activation
Provocation
Komite Nasional Kebijakan
Governance or Governance Policy
National Committee
Komite Nominasi dan Remunerasi
or Committee for Nomination and
Remuneration
Key Performance Indicator
Komisi Pemberantasan Korupsi or
Corruption Eradication Commission
Komisi Pengawasan Persaingan
Usaha or Commission for the
Supervision of Business Competition
Kawasan Timur Indonesia or Eastern
Indonesia
KiloWatt Hour
Light Emitting Diode
London Stock Exchange
Long Term Evolution
Long Term Incentive
Merger & Acquisition
Metra Digital Investama
Metra Digital Media
Mobile Network Operator
Management Stock Ownership
Program
Micro and Small Enterprise
Medium-Term Notes
Mean Time to Install
Mean Time to Repair
Mobile Virtual Network Operator
Network Access Point
Business Identification Number
Network & IT Solution
Net Promoter Score
Nomor Pokok Wajib Pajak or Tax
Identification Number
NSP
Personal Dialing Tone
NYSE
OECD
OJK
OLO
OTT
PaDi
PAYU
New York Stock Exchange
Organization for Economic
Co-operation and Development
Otoritas Jasa Keuangan or Financial
Services Authority
Other Licensed Operator
Over the Top
Pasar Digital
Pay As You Use
PEFINDO
PT Pemeringkat Efek Indonesia
PKBL
PN
POJK
PoP
POTS
PPID
PPKM
PPMP
PSAK
PSTN
QMS
QoS
RJPP
RKAP
ROA
ROE
RPT
SaaS
Program Kemitraan dan Bina
Lingkungan or Partnership and
Community Development Program
Perusahaan Negara or State Company
Peraturan Otoritas Jasa Keuangan
or Regulation of Indonesia Financial
Services Authority
Point of Presence
Plain Old Telephone Service
Pejabat Pengelola Informasi
dan Dokumentasi or Information
Management and Documentation
Officer
Enforcement of Restrictions on
Community Activities
Defined Benefit Pension Plan
Pernyataan Standar Akuntansi
Keuangan or Statements of Financial
Accounting Standards
Public Switched Telephone Network
Quality Management System
Quality of Service
Rencana Jangka Panjang Perseroan
or Company’s Long Term Plan
Rencana Kerja Anggaran dan
Pendapatan or Budgeting and
Revenue Work Plan
Return on Asset
Return on Equity
Related Party Transaction
Software as a Service
287
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk Keywords
Description
Keywords
Description
SAK
SASB
SDG
Standar Akuntansi Keuangan or
Financial Accounting Standard
Sustainability Accounting Standards
Board
Sustainable Development Goals
SD-WAN
Software Defined-Wide Area Network
SEA-ME-WE 5
Southeast Asia-Middle East -Western
Europe 5
SEA-ME-WE 6
Southeast Asia-Middle East -Western
Europe 6
SEA-US
Southeast Asia-United States
SEC
SEM
SEOJK
SFH
SGM
SIUP
SKKL
SKSO
SLI
SMAP
SMB
SME
SMK
Securities and Exchange Commission
Structural Equation Modeling
Surat Edaran Otoritas Jasa Keuangan
or Circular Letter of Indonesia Financial
Service Authority
School from Home
Senior General Manager
Surat Izin Usaha Perdagangan or
Business Permit
Sistem Komunikasi Kabel Laut or
Submarine Communications Cable
System
Sistem Komunikasi Serat Optik or
Fiber Optic Communication System
Sambungan Langsung Internasional
or International Direct Dialing
Sistem Manajemen Anti Penyuapan or
Anti-Bribery Management System
Small Medium Business
Small and Medium Enterprise
Sekolah Menengah Kejuruan or
Vocational School
SMK3/OHSAS
Sistem Manajemen Keselamatan
dan Kesehatan Kerja or Occupational
Health and Safety Assessment System
SOX
SP
Sarbanes Oxley Act
Strategic Portfolio
SPI
SROI
SSO
TAM
THR
TIOC
TKDN
TLK
TLKM
USO
VAR
VF
VOD
VOD
VoIP
VP
VPN
WBS
WFH
WIB
WINS
WPO
VP
VPN
WBS
WEO
WFH
WIB
WINS
WPO
Sistem Pengendalian Internal or
Internal Control System
Social Return on Investment
Shared Service Operation
Tele Account Management
Tunjangan Hari Raya or Religious
Holiday Allowance
Telkom Integrated Operation Center
Domestic Component Level
Telkom Ticker in New York Stock
Exchange
Telkom Ticker in Bursa Efek Indonesia
Universal Service Obligation
Value Added Reseller
Volatile Food
Video on Demand
Voice over Data
Voice over Internet Protocol
Vice President
Virtual Private Network
Whistleblowing System
Work from Home
Wholesale and International Business
Wholesale and International Service
Whistleblower Protection Officer
Vice President
Virtual Private Network
Whistleblowing System
World Economic Outlook
Work From Home
Wholesale and International Business
Wholesale and International Service
Whistleblower Protection Officer
288
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CROSS REFERENCE TO THE CIRCULAR LETTER
BY THE FINANCIAL SERVICES AUTHORITY
NO. 16/SEOJK.04/2021
No.
CRITERIA
EXPLANATION
PAGES
I
1.
2.
3.
4.
II
1.
2.
a.
FORM OF ANNUAL REPORT
Annual Report is presented in the form of printed documents and electronic copies of documents.
Annual Report presented as printed document should be printed on light-colored, good quality,
A4 sized paper, bound and possible to be reproduced in good quality.
Annual Report can present information in the form of pictures, graphs, tables, and/or diagrams
by including clear titles and/or descriptions, thus they are easy to read and understand.
Annual Report presented in the form of a copy of an electronic document is the Annual Report
converted in PDF format.
CONTENT OF ANNUAL REPORT
Annual Report should at least
contain information about:
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
key financial data highlight;
stock information (if any);
Board of Commissioners’ report;
Directors’ report;
Issuer or Public Company’s profile;
management discussion and analysis;
Issuer or Public Company’s governance;
Issuer or Public Company social and environmental
responsibility;
audited annual financial report; and
statement of Directors and board of Commissioners
on the responsibility for the Annual Report.
Description of The Contents of Annual Report
Key Financial Data Highlight
Highlights of Key Financial Data presents information in
comparative form over a period of 3 (three) financial years
or since the commencement of business if the Issuer or
Public Company has been running for less than 3 (three)
years, and should at least contain:
12-15
16-18
22-27
28-33
6-7
85-141
143-257
259-277
329
34-35
12-15
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
revenue;
gross profit;
profit (loss);
(loss)
profit
non-controlling interests;
attributable
to parent
and
comprehensive profit (loss);
comprehensive profit (loss) attributable to parent
and non-controlling interests;
net profit (loss) per share;
total assets;
total liabilities;
total equity;
profit (loss) to total asset ratio;
profit (loss) to equity ratio;
profit (loss) to revenue ratio;
289
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CRITERIA
EXPLANATION
PAGES
14)
15)
16)
17)
current ratio;
liabilities to equity ratio;
liabilities to total asset ratio; and
other financial information and ratios relevant to
Issuer or Public Company and their industry type.
b.
Stock Information
Information of stock for Public Company shall at least
contains:
1)
stock issued for three months period (if any)
presented in comparative form in the last 2 (two)
financial years at least contain:
16-18
a)
outstanding stock;
b) market capitalization by the price in the Stock
Exchange where the stock is listed;
c)
d)
e)
highest, lowest, and closing stock price by the
price in the Stock Exchange where the stock
is listed; and
traded volume in the Stock Exchange where
the stock is listed;
stock prices before and after corporate
actions;
in the event of corporate actions such as stock split,
reverse stock, stock dividend, stock bonus, and par
value decrease, stock price information referred
to in point 1) should then include explanation
concerning at least:
date of corporate actions;
a)
b)
c)
d)
date of corporate actions;
ratio of stock split, reverse stock, stock
dividend, stock bonus, and the changes of
par value;
amount of outstanding stock before and after
corporate actions; and
number of conversion effects executed (if
any); and
e)
stock price before and after corporate actions;
in the event that the company’s stock trade
is suspended and/or delisted during the year
reported, Issuer or Public Company should explain
the reason for such suspension and/or delisting;
and
in the event that the suspension as referred to in
number 3) and/or the process of delisting is still
ongoing until the final period of the Annual Report,
the Issuer or Public Company should explain the
actions taken to resolve the matter.
2)
3)
4)
18
No suspension/
delisting
No suspension/
delisting
c.
Board of Directors’ Report
Board of Directors’ Report shall at least contain:
28-33
1)
brief description about the performance of Issuer
or Public Company, that at least include:
a)
strategies and strategic policies of Issuer or
Public Company;
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CRITERIA
EXPLANATION
PAGES
b)
c)
d)
e)
Board of Directors' role in strategy formulation
and the strategic policy of the Issuer or Public
Company;
the process carried out by the Board of
Directors to ensure the implementation of
the Issuer's or Company's strategy Public;
comparison between the results achieved
with those targeted by the Issuer or Public
Company; and
constraints experienced by Issuers or Public
Company;
2)
3)
description of the Issuer or Public Company's
business prospects; and
implementation of Issuer or Public Company’s
governance.
d.
Board of Commissioners’ Report
Board of Commissioners’ Report shall at least contains:
22-27
1)
2)
3)
assessment on the performance of the Directors in
managing the Issuer or Public Company, including
supervision of the Board of Commissioners in the
formulation and implementation of the Issuer's
or Public Company's strategy by the Board of
Directors;
overview on the business prospects of Issuer or
Public Company established by the Board of
Directors;
overview on the implementation of Issuer or Public
Company’s governance;
e.
Profile of Issuer or Public Company
The Issuer or Public Company’s Profile at least contains:
1)
2)
3)
4)
5)
6)
name of Issuer or Public Company, including, if any,
changes in names, reasons for such changes, and
the effective date of name;
access to Issuer or Public Company, including
branch or representative offices that enables
people to obtain the information of:
6
6
a)
b)
c)
address;
telephone number;
e-mail address; and
d) website address;
brief history of the Issuer or Public Company;
vision and mission of Issuer or Public Company
and corporate culture or company values;
business activities according to the latest articles of
association, business activities conducted during
the financial year, and as well as types of goods
and/or services produced;
the operational area of Issuer or Public Company;
is an area for the implementation of operational
activities or the range of the company’s operational
activities.
44-45
38-39
46-47
10-11
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CRITERIA
EXPLANATION
7)
8)
9)
organizational structure of
Issuer or Public
Company in a form of chart, of at least to 1 (one)
structural level under Board of Directors including
the committees under
Board of Directors
(if any) and committees under the Board of
Commissioners,
accompanied by name and position;
a list of industry association memberships both
on a national and international scale related to the
implementation of sustainable finance;
a list of industry association memberships both
on a national and international scale related to the
implementation of sustainable finance;
a)
b)
c)
d)
e)
f)
g)
h)
name and position that corresponds to the
duties and responsibilities;
latest photograph;
age;
nationality;
educational background;
employment record, consisting of:
(1)
(2)
legal basis of Board of Directors
members appointment for the first
time at the related Issuer or Public
Company;
double position, either as member
of Directors, Commissioners, and/or
committee as well as other positions (if
any); and
(3) work experience and the time period
both inside and outside the Issuer or
Public Company;
affiliation with other members of the Board
of Directors, members of the Board of
Commissioners, major shareholders, and
controllers either directly or
indirectly to
individual owners, including the names of
affiliated parties. In the event that a member
of the Board of Directors has no affiliation, the
Issuer or Public Company shall disclose this
matter; and
changes in the composition of the members
of the Board of Directors and the reasons for
the changes. In the event that there is no
change in the composition of the members
of the Board of Directors, it will be disclosed
regarding this matter
PAGES
48-49
50-51
58-62
63
63
10)
profile of Board of Commissioners, consisting of:
52-56
a)
b)
c)
name and title;
latest photograph;
age;
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CRITERIA
EXPLANATION
PAGES
d)
e)
f)
g)
h)
i)
nationality;
educational background and/or certification;
employment record, consisting of:
(1)
(2)
(3)
legal basis for the appointment as a
member of the Board of Commissioners;
legal basis for the first appointment as a
member of the Board of Commissioners
who is an independent commissioner
of the related Issuer or Public Company;
double position, either as member of
Board of Commissioners, Directors, and/
or committee, as well as other positions,
both inside and outside the Issuer or
Public Company. In the event that a
member of the Board of Commissioners
does not have double positions, then
this is disclosed; and
(4) work experience and the time period
both inside and outside the Issuer or
Public Company;
affiliation with other members of the Board
of Commissioners, major
shareholders,
and controllers either directly or indirectly
to individual owners, including names of
affiliated parties; In the event that a member
of the Board of Commissioners does not have
any affiliation, the Issuer or Public Company
shall disclose this matter;
of
independence
the
statement
independent commissioner in the event that
the independent commissioner has served
more than 2 (two) terms; and
of
changes in the composition of the members
of the Board of Commissioners and the
reasons for the changes. In the event that
there is no change in the composition of the
members of the Board of Commissioners,
this matter shall be disclosed;
11)
12)
in the event of a change in the composition of
the Board of Commissioners and/or Directors
taking place after the fiscal year until the deadline
of Annual Report submission, management
composition stated in the Annual Report is then
the composition of the Board of Commissioners
and/or Directors both the latest and the previous
one;
number of employees by gender, position,
level, and employment status
age, education
(permanent/contracted)
in the financial year.
Disclosure of information can be presented in
tabular form.
57
175
57
57
67-69
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk PAGES
70-71
70
71
70
72-77
No.
CRITERIA
EXPLANATION
13)
name of shareholders and ownership percentage
at the end of financial year, information includes
among others:
a)
shareholders having 5% (five percent) or more
shares of Issuer or Public Company;
b) member of Directors and Board of
Commissioners owning shares of Issuer or
Public Company. In the event that all members
of the Board of Directors and/or all members
of the Board of Commissioners do not own
shares, then this matter is disclosed; and
c)
group of public shareholders each having
less than 5% (five percent) share ownership of
Issuer or Public Company;
The above information can be presented in tabular
form.
the percentage of indirect ownership of the shares
of the Issuer or Public Company by members
of the Board of Directors and members of the
Board of Commissioners at the beginning and
end of the financial year, including information on
shareholders registered in the shareholder register
for the benefit of indirect ownership of members of
the Board of Directors and members of the Board
of Commissioners;
In the event that all members of the Board of
Directors and/or all members of the Board of
Commissioners do not have indirect ownership
of the shares of the Issuer or Public Company, this
matter shall be disclosed.
of
shareholders
number
ownership
percentage at the end of financial year presented
in the following classifications:
and
a)
b)
c)
d)
local institution ownership;
foreign institution ownership;
local individual ownership; and
foreign individual ownership;
information concerning major and controlling
shareholder of Issuer or Public Company, both
direct and indirect, until the individual owner,
presented in the form of scheme or diagram;
names of subsidiaries, associated companies, joint
ventures in which Issuer or Public Company owns
control with the entities, along with the percentage
of share ownership, line of business, total asset, and
operating status of such companies (if any);
For subsidiaries, information of company’s address
should be added;
14)
15)
16)
17)
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PT Telkom Indonesia (Persero) TbkAnnual Report 2022Chapter 07 APPENDIX PAGES
78-79
80-81
82-83
No.
CRITERIA
EXPLANATION
18)
19)
chronology of stock listing, number of stock, par
value, and offering price from the beginning of
listing up to the end of the financial year and name of
Stock Exchange where Issuer or Public Company’s
stock are listed including stock splits, reverse stock,
stock dividends, shares bonuses, and changes
in the nominal value of shares, implementation
of conversion effects, implementation of capital
additions and subtractions (if any);
information of other securities listing other than
the securities referred to in point 18) which have
not matured in the financial year at least contain
the name of the securities, year of issue, interest
rate/yield, maturity date, offering value, and rating
of securities (if any);
20)
information on the use of public accounting
services (AP) and public accounting firms (KAP)
and their networks/associations/allies include:
a)
b)
c)
d)
e)
name and address;
assignment period;
information on audit and/or non-audit
services provided;
audit and/or non-audit
for each
assignment given during the financial year;
and
fee
in the event that AP and KAP and their
networks/associations/allies,
are
appointed do not provide non-audit services,
then the information is disclosed; and
which
Disclosure of information on the use of AP and KAP
services and their networks/associations/allies can
be presented in tabular form.
f.
Management Discussion and
Analysis
21)
name and address of capital market supporting
institutions and/or professions other than AP and
KAP.
82-83
Annual Report must contain discussion and analysis of
Financial Report and other significant information by
emphasizing material changes taking place during the
year under review. It should at least contain:
1)
2)
operational review by business segment
in
accordance with the industry of Issuer or Public
Company, consisting of at least:
89-105
a)
b)
c)
Production, which includes process, capacity
and its development;
Revenue; and
Profitability;
comprehensive financial performance including
a comparison between the financial performance
of the last two financial years, explanation on the
causes of such changes and their impact, which
among others includes:
115-126
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3)
4)
5)
6)
a)
b)
c)
d)
current assets, non-current assets, and total
assets;
Short-term liabilities, long-term liabilities, and
total liabilities;
equity;
revenue, expenses and profit (loss), other
comprehensive revenue and comprehensive
income (loss); and
e)
cash flow;
capability to pay debts by presenting relevant ratio;
account receivables collectability of Issuer or Public
Company receivable by presenting relevant ratio;
capital structure and management’s policies on
the capital structure, as well as basis of the policy
making;
for the
discussion on material commitment
investment of capital expenditure with explanation
concerning:
a)
b)
c)
d)
purpose of such commitment;
sources of funds expected to fulfill to the
commitment;
currency of denomination;
steps taken by the Issuer or Public Company
to protect the position of related foreign
currency against risks;
127
131
128
130
7)
discussion on realization of investment of capital
expenditure within the last Financial year, that at
least contains:
129
8)
9)
10)
a)
b)
c)
type of capital expenditure investments;
purpose of capital expenditure investments;
value of capital expenditure
issued;
investments
material information and facts occurring after the
date of accountant’s report (if any);
business prospects of Issuer or Public Company in
relation to the industry, economy in general, and
international market, and accompanied with the
supporting quantitative data from reliable Data
resource;
132
133-134
comparison between target/projection at the
beginning of financial year and the realization, that
includes:
134
a)
b)
c)
d)
revenue;
profit (loss);
capital structure; or
other information deemed necessary by the
Issuer or Public Company;
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11)
target/projection of the Issuer or Public Company
within 1 (one) year, that includes:
PAGES
135
a)
b)
c)
d)
e)
revenue;
profit (loss);
capital structure;
dividend policy; or
other information deemed necessary by the
Issuer or Public Company;
12) marketing aspects of the goods and/or services of
Issuer or Public Company, including among others
marketing strategies and market Share;
13)
description of dividend during the past 2 (two)
financial years (if any), includes at least:
106-114
136
a)
b)
c)
dividend policy; including information on the
percentage of dividends distributed to net
income;
date of cash dividend payment and/or date of
non-cash dividend Distribution;
amount of dividend per share (cash and/or
non-cash); and
d)
amount of dividend paid per year;
Disclosure of information can be presented in
tabular form. In the event that the Issuer or Public
Company does not distribute dividends in the last
2 (two) years, this matter shall be disclosed.
14)
realization of the use of proceeds from Public
Offering is under the Following conditions:
137
a)
b)
in the event that during the financial year
reported, the Issuer is obliged to submit
report on realization of use of proceeds, then
Annual Report should disclose accumulated
realization of use of Proceeds until the end of
the financial year; and
in the event that there is a change in the
use of proceeds as stipulated in Financial
Services Authority Regulation on Report on
Realization of Use of Proceeds, the Issuer
should then explain such change;
15) material information (if any) concerning, among
others investment, expansion, divestment, merge,
acquisition, debt/capital restructuring, affiliated
transaction, and transaction with conflict of
interests, taking place during the financial year (if
any). Information includes:
138
a)
b)
c)
d)
date, value and object of transaction;
name of transacting parties;
nature of Affiliated relation (if any);
explanation of fairness of transaction; and
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e)
f)
compliance with related rules and regulations;
in the event that there
is an affiliation
relationship, in addition to disclosing the
information as referred to in letter a) to letter
e), the Issuer or Public Company also discloses
information:
(1)
(2)
a statement from the Board of Directors
that the affiliate transaction has gone
to
through adequate procedures
ensure that the affiliated transaction
is carried out
in accordance with
generally accepted business practices,
among others, by complying with the
arms-length principle; and
the role of the Board of Commissioners
and the audit committee in carrying
out adequate procedures to ensure
that affiliated transactions are carried
out
in accordance with generally
accepted business practices, among
others, by complying with the arms-
length principle;
g)
h)
i)
and/or
for affiliated
transactions or material
transactions which are business activities
carried out in order to generate business
regularly,
income and are carried out
repeatedly
an
explanation
is added that the affiliated
transactions or material transactions are
business activities carried out in order to
generate business income and are carried
out
repetitive, and/or
continuous;
continuously,
regularly.
routine,
In the case of affiliate transactions or material
transactions referred to has been disclosed
in
report annual financial, added
information regarding disclosure references
in reports the annual finances.
the
for disclosure of affiliated transactions and/or
conflict of interest transactions resulting from
the implementation of affiliated transactions
and/or conflict of
transactions
that have been approved by independent
information
additional
shareholders,
regarding the date of the GMS which
approved the affiliated transactions and/or
conflict of interest transactions is added;
interest
in the event that there are no affiliated
transactions and/or conflict of
interest
transactions, then such matters shall be
disclosed;
16)
description of changes in regulation which have a
significant effect on the Issuer or Public Company
and its impacts on the financial report (if any); and
139
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g.
Governance of Issuer or Public
Company
Governance of Issuer or Public Company at least contains
brief description of:
17)
changes in the accounting policy, rationale and
impacts on the financial statement (if any).
PAGES
140-141
1)
General Meeting of Shareholders (GMS) shall at
least contain:
152-161
a)
Information regarding the resolutions of the
GMS in the financial year and 1 (one) year prior
to the financial year includes:
(1)
(2)
resolutions of the GMS in the financial
year and 1 (one) year before the financial
year are realized in the financial year;
and
resolutions of the GMS for the financial
year and 1 (one) year before the financial
year that have not been realized and
the reasons for not realizing them;
b)
in the event that the Issuer or Public Company
uses an independent party in the conduct
of the GMS to calculate the votes, then this
matter shall be disclosed;
2)
Directors, consisting of among others:
203-216
a)
scope of work and responsibility of each
member of the Directors;
b)
c)
regarding
Information
the duties and
responsibilities of each member of the
Board of Directors is described and can be
presented in tabular form.
disclosure that the Directors have Directors’
charter;
implementation
policies and
regarding
the frequency of meetings of the Board of
Directors, joint meetings of the Board of
Commissioners, and the level of attendance
of members of the Board of Directors in such
meetings including attendance at the GMS;
Information on the
level of attendance
of members of the Board of Directors at
the meeting of the Board of Directors, the
meeting of the Board of Directors with the
Board of Commissioners, or the GMS can be
presented in tabular form.
d)
training and/or competency improvement of
members of the Board of Directors:
(1)
(2)
policies on training and/or improving
the competence of members of
including
the Board of Directors,
for newly
an orientation program
appointed members of the Board of
Directors (if any); and
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e)
f)
and/or
training
competency
improvement attended by members of
the Board of Directors in the financial
year (if any);.
The Board of Directors’ assessment of the
performance of the committees that support
the implementation of the Board of Directors’
duties for the financial year shall at least
contain:
1)
2)
performance appraisal procedures; and
criteria used such as performance
achievement during
the financial
year, competence and attendance in a
meeting; and
in the case that the Issuer or Public Company
does not have a committee that supports
the implementation of tasks the Board of
Directors, then it is disclosed regarding this
matter.
3)
Board of Commissioners, consisting of among
others:
162-185
a)
b)
c)
description of responsibility of the Board of
Commissioners;
disclosure that the Board of Commissioners
has Board of Commissioners’ charter;
policies and implementation of the frequency
of meetings of the Board of Commissioners,
meetings of the Board of Commissioners
with the Board of Directors and the level
of attendance of members of the Board of
Commissioners in the meeting including
attendance at the GMS;
Information on the level of attendance of
members of the Board of Commissioners at
the meeting of the Board of Commissioners,
the meeting of the Board of Commissioners
with the Board of Directors, or the GMS can
be presented in tabular form.
d)
training and/or competency improvement of
members of the Board of Commissioners:
(1)
(2)
policies on training and/or improving
the competence of members of the
including
Board of Commissioners,
orientation
newly
programs
appointed members of the Board of
Commissioners (if any); and
for
and/or
training
competency
improvement attended by members
of the Board of Commissioners in the
financial year (if any);
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e)
performance appraisal of the Board of
Directors and the Board of Commissioners
as well as each member of the Board of
Directors and the Board of Commissioners,
including among others:
(1)
(2)
procedure of performance assessment
implementation;
the criteria used are performance
the financial
achievements during
year, competence and attendance at
meetings; and
(3)
parties conducting the assessment;
f)
The Board of Commissioners’ assessment
of the performance of the Committees that
support the implementation of the duties of
the Board of Commissioners in the financial
year includes:
(1)
(2)
performance appraisal procedures; and
the criteria used are performance
achievements during
the financial
year, competence and attendance at
meetings;
4)
The nomination and remuneration of the Board of
Directors and the Board of Commissioners shall at
least contain:
197-198
a)
b)
nomination procedure,
including a brief
description of the policies and process for
nomination of members of the Board of
Directors and/or members of the Board of
Commissioners; and
and
procedures
of
remuneration for the Board of Directors and
the Board of Commissioners, among others:
implementation
(1)
(2)
(3)
procedures
determining
for
remuneration for the Board of Directors
and the Board of Commissioners;
the
remuneration structure of
the
Board of Directors and the Board
of Commissioners such as salaries,
allowances, bonuses and others; and
the amount of remuneration for each
member of the Board of Directors and
member of the Board of Commissioners;
Disclosure of
information can be
presented in tabular form.
5)
Syariah supervisory board, for Issuer or Public
Company running business under the principles of
Syariah as expressed in the Articles of Association,
contains at least:
Tidak relevan
a)
name;
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b)
c)
d)
e)
the legal basis for the appointment of the
syariah supervisory board;
period of assignment of
supervisory board;
the
syariah
tasks
and
supervisory board; and
responsibilities
of
syariah
frequency and method of advising and
supervisory on the compliance of syariah
principles in capital market toward the Issuer
or Public Company;
6)
Audit Committee, consisting of among others:
186-193
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
name and position in the committee;
age;
nationality;
educational background;
employment record, consisting of:
(1)
(2)
legal basis of appointment as member
of committee;
double position, either as member of
Board of Commissioners, Directors,
and/or committee and other positions
(if any); and
(3) work experience and the time period,
both inside and outside the Issuer or
Public Company;
period of service of Audit Committee
members;
disclosure of
Committee;
independence of Audit
training and/or competency improvement
that have been followed in the financial year
(if any);
disclosure of company policies and the
implementation on
frequency of Audit
Committee meetings and the attendance
of Audit Committee members
in such
meetings; and
brief description activities carried out by Audit
Committee during the financial year based
on what is stated in Audit Committee Charter;
7)
Committee or
function of nomination and
remuneration of Issuers or Public Companies,
consisting of among others:
194-198
a)
b)
c)
d)
e)
name and position in the committee;
age;
nationality;
educational background;
employment record, consisting of:
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(1)
(2)
legal basis
committee member;
of
appointment
as
double position, either as member of
Board of Commissioners, Directors and/
or committee and the other positions (if
any); and
f)
g)
h)
i)
j)
k)
l)
m)
(3) work experience and the time period
both inside and outside the Issuer or
Public Company;
period of service of committee members;
disclosure of independence of committee;
training and/or competency improvement
that have been followed in the financial year
(if any);
description of duties and responsibilities;
disclosure that the committee has charter of
committee;
disclosure of company policies and the
implementation on frequency of committee
meetings and the attendance of committee
members in such meetings;
brief description activities during the financial
year;
in the event that no nomination and
remuneration committee
formed, the
Issuer or Public Company is sufficient to
disclose the information as referred to in
letter i) to letter l) and disclose:
is
(1)
(2)
reasons for not forming the committee;
and
the party carrying out the nomination
and remuneration function;
8)
other committees the Issuer or Public Company
has in order to support the function and tasks
of Directors (if any) and/or committees that
support the functions and duties of the Board of
Commissioners, consisting of among others:
199-202
a)
b)
c)
d)
e)
name and position in the committee;
age;
nationality;
educational background;
employment record, consisting of:
(1)
(2)
legal basis
committee member;
of
appointment
as
double position, either as member of
Board of Commissioners, Directors and/
or committee and the other positions (if
any); and
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(3) work experience and the time period
both inside and outside the Issuer or
Public Company;
period of service of committee members;
disclosure of independence of committee;
training and/or competency improvement
that have been followed in the financial year
(if any);
description of duties and responsibilities;
disclosure that the committee has charter of
committee;
disclosure of company policies and the
implementation on frequency of committee
meetings and the attendance of committee
members in such meetings; and
brief description activities during the financial
year;
f)
g)
h)
i)
j)
k)
l)
9)
Corporate Secretary, consisting among others:
217-220
a)
b)
c)
d)
e)
f)
name;
domicile;
employment record, consisting of:
(1)
legal basis of appointment as Corporate
Secretary; and
(2) work experience and the time period
both inside and outside the Issuer or
Public Company;
educational background;
training and/or competency improvement that
have been followed in the financial year; and
brief description activities carried out by
Corporate Secretary during the financial year;
10)
Internal audit unit, consisting among others:
221-225
a)
b)
c)
d)
e)
f)
g)
name of internal audit unit’s chief;
employment record, consisting of:
(1)
legal basis of appointment as internal
audit unit’s chief; and
(2) work experience and the time period
both inside and outside the Issuer or
Public Company;
qualification/certification as an internal audit (if
any);
training and/or competency improvement
that have been followed in the financial year;
structure and position of internal audit unit;
description of tasks and responsibilities of
internal audit unit;
disclosure that the unit has charter internal
audit unit; and
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h)
brief description of the implementation of the
duties of the internal audit unit in the financial
year including the policy and implementation
of the frequency of meetings with the Board
of Directors, Board of Commissioners, and/or
audit committee;
11)
description of internal control system implemented
by Issuer or Public Company, consisting of at least:
226-228
a)
b)
c)
operational and financial control, along with
compliance with other prevailing rules and
regulations; and
review on effectiveness of internal control
system;
statement of the Board of Directors and/or
Board of Commissioners on the adequacy of
the internal control system;
12)
risk management system implemented by Issuer
or Public Company, consisting of at least:
229-245
a)
b)
c)
d)
general description of risk management
system of Issuer or Public Company;
types of risks and efforts to manage such
risks; and
review on effectiveness of
risk
management system of Issuer or Public
Company;
the
statement of the Board of Directors and/or
Board of Commissioners on the adequacy of
the internal control system;
legal cases that have a material impact faced
by
Issuers or Public Companies, subsidiaries,
members of the Board of Directors and members
of the Board of Commissioners (if any), at least
contain:
a) material of the case/claim;
b)
c)
status of settlement of case/claim; and
impacts on the financial condition of the Issuer
or Public Company;
information on administrative sanctions to Issuer
or Public Company, members of the Board of
Commissioners and Directors, by Financial Service
Authority and other authorities during the fiscal
year (if any);
13)
14)
253
253
15)
information on code of conducts and culture of
Issuer or Public Company (if any) consisting of:
255-256
a) main points of code of conducts;
b)
c)
form of socialization of code of conducts and
efforts to enforce it; and
is
disclosure of that code of conducts
applicable to member of Directors, Board of
Commissioners, and employers of Issuer or
Public Company;
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16)
a brief description of the policy of providing
long-term performance-based compensation to
management and/or employees owned by the
Issuer or Public Company (if any), including the
management stock ownership program (MSOP)
and/or share ownership program by employees
(employee stock ownership program/ESOP);
In terms of providing compensation in the form of
a management stock ownership program (MSOP)
and/or an employee stock ownership program
(ESOP), the information disclosed must at least
contain:
a)
b)
c)
amount of stock and/or options;
time period of exercise;
requirements for eligible employees and/or
Management; and
d)
exercise price;
17)
brief description of disclosure policy information
regarding:
251
a)
the
share ownership of members of
Board of Directors and members Board of
Commissioners no later than 3 (three) working
days after the occurrence of ownership or
any change of ownership of the Company's
shares Open; and
b)
implementation of the said policy;
18)
explanation on Whistleblowing System at the
Issuer or Public Company to report misconducts
causing potential loss to the company or the
stakeholders (if any), consisting of among others:
246-251
a)
b)
c)
d)
e)
procedure to submit whistleblowing report;
protection for whistleblower;
handling of whistleblowing;
party managing whistleblowing; and
results of whistleblowing handling, consisting
of at least:
(1)
number of whistleblowing registered
and processed in financial year; and
(2)
follow up of whistleblowing;
In the event that the Issuer or Public Company
does not have a whistleblowing system, it is
disclosed regarding this matter.
19)
a description of the anti-corruption policy of the
Issuer or Public Company, at least containing:
257
a)
programs and procedures
implemented
in overcoming the practice of corruption,
kickbacks, fraud, bribery and/or gratuities in
Issuers or Public Companies; and
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b)
anti-corruption
employees of Issuers or Public Companies;
training/socialization
to
In the event that the Issuer or Public Company does
not have an anti-corruption policy, the reasons for
not having the said policy are explained.
20)
implementation of Public Company Governance
Guidelines for Issuer that issues Equity Securities
or Public Company, consisting of:
144-149
a)
b)
disclosure
recommendations; and/or
of
implemented
explanation concerning unimplemented
recommendation, including reasons for such
conditions and alternatives (if any).
Disclosure of information can be presented in
tabular form.
h.
Social and Environmental
Responsibility of Issuer or Public
Company
1)
in
the
social
section
and
Information disclosed
environmental
a
responsibility
Sustainability Report as referred to in the Financial
Services Authority’s Regulation No. 51/POJK.03/2017
concerning the Implementation of Sustainable
Finance for Financial Services Institutions, Issuers,
and Public Companies, containing at least :
is
Telkom will
publish the 2022
Sustainability
Report separately
a)
b)
c)
d)
e)
f)
explanation of the sustainability strategy;
an overview of
(economic, social, and environmental);
sustainability aspects
brief profile of the Issuer or Public Company;
explanation of the Board of Directors;
sustainability governance;
sustainability performance;
g) written verification from an independent
party, if any;
h)
i)
feedback sheet for readers, if any; and
the response of the Issuer or Public Company
to the previous year's report feedback;
in
The Sustainability Report as referred to
number 1), must be prepared in accordance with
the Technical Guidelines for the Preparation of
a Sustainability Report for Issuers and Public
Companies as contained in Appendix II which is
an integral part of this Financial Services Authority
Circular Letter;
2)
3)
Information on the Sustainability Report in number
1) could be:
a)
disclosed in other relevant sections outside
of the social and environmental responsibility
section, such as the Directors’ explanation
regarding the Sustainability Report disclosed
in the section related to the Directors’ Report;
and/or
Information
available on
Sustainability
Report 2022
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b)
refers to other sections outside the social and
environmental responsibility section while
still referring to the Technical Guidelines for
the Preparation of Sustainability Reports for
Issuers and Public Companies as listed in
Appendix II which is an integral part of this
Financial Services Authority Circular Letter,
such as profiles Issuer or Public Company;
The Sustainability Report as referred to in number
1) is an inseparable part of the Annual Report but
can be presented separately from the Annual
Report;
Telkom will
publish the 2022
Sustainability
Report separately
4)
5)
6)
7)
In the event that the Sustainability Report is
presented separately from the Annual Report, the
information disclosed in the said Sustainability
Report must:
a)
b)
contains all the information as referred to in
number 1); and
for
prepared in accordance with the Technical
Guidelines
the Preparation of a
Sustainability Report for Issuers and Public
Companies as contained in Appendix II which
is an integral part of this Circular Letter of
Financial Services Authority;
In the event that the Sustainability Report is
presented separately from the Annual Report, then
the social and environmental responsibility section
contains information that information regarding
social and environmental responsibility has been
disclosed in the Sustainability Report which is
presented separately from the Annual Report; and
Submission of the Sustainability Report which
is presented separately from the Annual Report
must be submitted together with the submission
of the Annual Report.
260
329
34-35
The annual financial statements contained
in the
Annual Report are prepared in accordance with financial
accounting standards
in Indonesia and have been
audited by a public accountant registered with the
Financial Services Authority. The said annual financial
report contains a statement regarding the accountability
for financial statements as regulated in the Financial
Services Authority Regulation regarding the Board of
Directors' responsibility for financial reports or the laws
and regulations in the capital market sector which
regulates the periodic reports of securities companies in
the event that the Issuer is a securities company.
Statement of members of Directors and Board of
Commissioners on the responsibility for the Annual Report
is composed in accordance to the format of Statement
of Members of Directors and Board of Commissioners
on the Responsibility for the Annual Report as attached
in the Appendix I as an inseparable part of the Circular
Letter of FSA.
i.
Audited Financial Statement
j.
Statement of Members
Board of Directors and Board
of Commissioners on The
Responsibility for the Annual Report
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Annual Report 2022 PT Telkom Indonesia (Persero) Tbk APPENDIX 4:
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License/Application Service
EDC Cooperative Sharing
Pojok Celebes Mandiri
E-Ticketing Service
Telkomsat
Incubation Service
Maintenance Service
Manage Capacity Service
Management Service
Telecommunication Facilities Service:
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SARTEL-SARPEN Service
Satellite Link/Transponder/VISAT/Sirkit
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Device Installation Service
Maintenance Service
Manage Capacity Service
Management Service
Supporting Service
1.
2.
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4.
5.
6.
7.
1.
2.
3.
4.
5.
6.
1.
2.
3.
4.
5.
6.
7.
1.
2.
3.
4.
5.
1
2
3
4
5
6
7
8
9
10
11
12
13
14 15
16
17
18
19
20
21
22
23
24 25
26
27
28
29
30
31
32
33
34 35
36
37
38
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23
24 25
26
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28
29
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31
32
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34 35
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Credit Voucher Fee Service/RITNAS
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Technical Assistance Service/Investigation
Survey
Device Installation Service
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Building Rental Service/Tower
GSD
Construction Service
Lease & Trade Service
Building Management Service/Site
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Supporting Service
Transport Management Service
Infomedia Nusantara
Advertising/Printing Service
Call Center/Contact Center Service -
Outsourcing
Colocation/Maintenance/Supporting
Service
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Management Service
Outsourcing Service
Building Management Service/Site
Supporting Service
Melon
Content Service/PIB
SARTEL-SARPEN Service
1.
2.
3.
4.
1.
2.
3.
4.
1.
2.
3.
4.
5.
6.
1.
2.
3.
4.
5.
6.
7.
8.
1.
2.
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21
22
23
24 25
26
27
28
29
30
31
32
33
34 35
36
37
38
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1.
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Survey
1.
2.
3.
4.
2.
3.
4.
1.
2.
3.
4.
5.
6.
1.
2.
3.
4.
5.
6.
7.
8.
1.
2.
Device Installation Service
Manage Capacity Service
Building Rental Service/Tower
GSD
Construction Service
Lease & Trade Service
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Supporting Service
Transport Management Service
Infomedia Nusantara
Advertising/Printing Service
Call Center/Contact Center Service -
Outsourcing
Service
Colocation/Maintenance/Supporting
Building Management Service/Site
Access Network Service
Management Service
Outsourcing Service
Supporting Service
Melon
Content Service/PIB
SARTEL-SARPEN Service
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20
21
22
23
24 25
26
27
28
29
30
31
32
33
34 35
36
37
38
Telkom Metra
SHL Interest
Advertising/Printing Service
Colocation/Maintenance/Supporting
Service
Content Service/PIB
Management Service
Building Rental Service/Tower
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Satellite Link/Transponder/VISAT/Sirkit
Service
Pramindo Ikat Nusantara
CPE Managed Application Service
CPE Managed Device Service
CPE Managed Network Service
Credit Voucher Fee Service/RITNAS
Maintenance Service
Building Management Service/Site
Supporting Service
1.
2.
3.
4.
5.
6.
7.
8.
1.
2.
3.
4.
5.
6.
7.
8. Work Facilities Rental Service/Seat
Management
9.
Server Rental Service
Telkomsel
Advertising/Printing Service
APP2P Service
Collection Service
Colocation/Maintenance/Supporting
Service
Credit Voucher Fee Service/RITNAS
I/C SLI 007 Service
Domestic Incoming Service
(Interconnection)
Content Service/PIB
E_Payment/Money Service
1.
2.
3.
4.
5.
6.
7.
8.
9.
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8. Work Facilities Rental Service/Seat
Management
9.
Server Rental Service
Telkomsel
Advertising/Printing Service
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Colocation/Maintenance/Supporting
Service
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(Interconnection)
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1.
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5.
6.
7.
8.
1.
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3.
4.
5.
6.
7.
1.
2.
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4.
5.
6.
7.
8.
9.
1
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5
6
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11
12
13
14 15
16
17
18
19
20
21
22
23
24 25
26
27
28
29
30
31
32
33
34 35
36
37
38
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Supporting Service
Rental Link : Metroethernet, Astinet, VPN
IP, DINACCESS Service
15.
SMS KA Service
Telin
2
3
4
5
6
7
8
9
10
11
12
13
14 15
16
17
18
19
20
21
22
23
24 25
26
27
28
29
30
31
32
33
34 35
36
37
38
Technical Assistance Service/Investigation
Survey
Colocation/Maintenance/Supporting
Service
Hosting Service/CDN
Content Service/PIB
International Service IPLC/SIMBOX
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08
CONSOLIDATED
FINANCIAL
STATEMENTS
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CONSOLIDATED
FINANCIAL
STATEMENTS
329 Audited Consolidated Financial Statements
2022 and Audited Financial Statements
2022 for Program Pendanaan Usaha Mikro
dan Usaha Kecil
327
Annual Report 2022 PT Telkom Indonesia (Persero) Tbk This page is intentionally left blank
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk. and its subsidiaries
Consolidated financial statements
as of December 31, 2022 and for the year then ended with independent
auditor’s report
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2022 AND FOR THE YEAR THEN ENDED
WITH INDEPENDENT AUDITOR’S REPORT
TABLE OF CONTENTS
Statement of the Board of Directors
Report of Independent Registered Public Accounting Firm
Consolidated Statement of Financial Position
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows
Notes to the Consolidated Financial Statements
Page
1
2
3
4
5-114
This report is originally issued in the Indonesian language.
Independent Auditor’s Report
Report No. 00351/2.1032/AU.1/06/0687-1/1/III/2023
The Shareholders and the Boards of Commissioners and Directors
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk.
Report on the Audit of the Consolidated Financial Statements
Opinion
We have audited the accompanying consolidated financial statements of Perusahaan Perseroan
(Persero) PT Telekomunikasi Indonesia Tbk. (the “Company”) and its subsidiaries (collectively
referred to as the “Group”), which comprise the consolidated statement of financial position as of
December 31, 2022, and the consolidated statement of profit or loss and other comprehensive
income, consolidated statement of changes in equity, and consolidated statement of cash flows for
the year then ended, and notes to the consolidated financial statements, including a summary of
significant accounting policies.
In our opinion, the accompanying consolidated financial statements present fairly, in all material
respects, the consolidated financial position of the Group as of December 31, 2022, and its
consolidated financial performance and cash flows for the year then ended, in accordance with
Indonesian Financial Accounting Standards.
Basis for opinion
We conducted our audit in accordance with Standards on Auditing established by the Indonesian
Institute of Certified Public Accountants (“IICPA”). Our responsibilities under those standards are
further described in the Auditor’s Responsibilities for the Audit of the consolidated Financial
Statements paragraph of our report. We are independent of the Group in accordance with the
ethical requirements relevant to our audit of the consolidated financial statements in Indonesia, and
we have fulfilled our other ethical responsibilities in accordance with such requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Key audit matter
Key audit matters are those matters that, in our professional judgment, were of most significance
in our audit of the consolidated financial statements of the current period. Such key audit matters
were addressed in the context of our audit of the consolidated financial statements taken as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on such key
audit matters. For the key audit matter below, our description of how our audit addressed such key
audit matter is provided in such context.
i
This report is originally issued in the Indonesian language.
Independent Auditor’s Report (continued)
Report No. 00351/2.1032/AU.1/06/0687-1/1/III/2023 (continued)
Key audit matter (continued)
We have fulfilled the responsibilities described in the Auditor’s Responsibilities for the Audit of the
Consolidated Financial Statements paragraph of our report, including in relation to the key audit
matter communicated below. Accordingly, our audit included the performance of procedures
designed to respond to our assessment of the risks of material misstatement of the accompanying
consolidated financial statements. The results of our audit procedures, including the procedures
performed to address the key audit matter below, provide the basis for our opinion on the
accompanying consolidated financial statements.
Evaluation of property and equipment estimated useful lives
Description of the key audit matter:
As of December 31, 2022, the balance of consolidated property and equipment of the Group was
Rp173,329 billion. As discussed in Notes 2ac and 11 to the accompanying consolidated financial
statements, the Group reviews the estimated useful lives of its property and equipment at least
annually and such estimates are updated if expectations differ from previous estimates due to
changes in expectation of physical wear and tear, technical or commercial obsolescence, and legal
or other limitations on the continuing use of the property and equipment.
Auditing the Group's estimated useful lives of property and equipment is complex and requires
significant judgment because the determination of the estimated useful lives considers a number of
factors, including strategic business plans, expected future technological developments, and
market behavior.
Audit response:
We obtained an understanding and evaluated the design and tested the operating effectiveness, of
internal controls over the Group’s process of estimating the useful lives of its property and
equipment. For example, we tested management’s review control on checking the completeness
and accuracy of the assets classification data and assessing the appropriateness of the judgments
regarding the most relevant data to be considered in determining useful lives.
To test whether the estimated useful lives of property and equipment used by management was
reasonable, our audit procedures included, among others, obtaining an understanding of
management’s strategy related to assets replacement and assessed the reasonableness of such
assumptions by considering external sources, such as telecommunication technology growth,
changes in market demand, and current economic and regulatory trends. We assessed whether
there were any potential sources of contrary information by performing benchmarking analysis on
the estimated useful lives of property and equipment against other public companies within the
telecommunication industry.
ii
This report is originally issued in the Indonesian language.
Independent Auditor’s Report (continued)
Report No. 00351/2.1032/AU.1/06/0687-1/1/III/2023 (continued)
Other information
Management is responsible for the other information. Other information comprises the information
included in the 2022 Annual Report (“The Annual Report”). The Annual Report is expected to be
made available to us after the date of this independent auditor’s report.
Our opinion on the accompanying consolidated financial statements does not cover the Annual
Report, and accordingly, we do not express any form of assurance on the Annual Report.
In connection with our audit of the accompanying consolidated financial statements, our
responsibility is to read the Annual Report when it becomes available and, in doing so, consider
whether the Annual Report is materially inconsistent with the accompanying consolidated financial
statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.
When we read the Annual Report, if we conclude that there is a material misstatement therein, we
are required to communicate the matter to those charged with governance and take appropriate
actions based on the applicable laws and regulations.
Responsibilities of management and those charged with governance for the consolidated
financial statements
Management is responsible for the preparation and fair presentation of the consolidated financial
statements in accordance with Indonesian Financial Accounting Standards, and for such internal
control as management determines is necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the
Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going
concern, and using the going concern basis of accounting, unless management either intends to
liquidate the Group or to cease its operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Group’s financial reporting
process.
Auditor’s responsibilities for the audit of the consolidated financial statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial
statements taken as a whole are free from material misstatement, whether due to fraud or error,
and to issue an independent auditor’s report that includes our opinion. Reasonable assurance is a
high level of assurance, but is not a guarantee that an audit conducted in accordance with Standards
on Auditing established by the IICPA will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these consolidated financial statements.
iii
Independent Auditor’s Report (continued)
Report No. 00351/2.1032/AU.1/06/0687-1/1/III/2023 (continued)
This report is originally issued in the Indonesian language.
Auditor’s responsibilities for the audit of the consolidated financial statements (continued)
As part of an audit in accordance with Standards on Auditing established by the IICPA, we exercise
professional judgment and maintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the consolidated financial statements,
whether due to fraud or error, design and perform audit procedures responsive to such risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may
intentional omissions,
misrepresentations, or override of internal control.
involve collusion, forgery,
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Group’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
Conclude on the appropriateness of management's use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the Group's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our independent auditor’s report to the related disclosures in the consolidated financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusion is based
on the audit evidence obtained up to the date of our independent auditor’s report. However,
future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure, and content of the consolidated financial
statements, including the disclosures, and whether the consolidated financial statements
represent the underlying transactions and events in a manner that achieves fair presentation.
iv
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As of December 31, 2022
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
Notes
2022
2021
ASSETS
CURRENT ASSETS
Cash and cash equivalents - net
Other current financial assets - net
Trade receivables - net allowance for expected
credit losses
Related parties
Third parties
Contract assets - net
Other receivables - net
Inventories - net
Assets held for sale
Contract costs
Prepaid taxes
Claim for tax refund
Other current assets
Total Current Assets
NON-CURRENT ASSETS
Contract assets - net
Long-term investments
Contract costs
Property and equipment
Right-of-use assets
Intangible assets
Deferred tax assets - net
Other non-current assets
Total Non-current Assets
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade payables
Related parties
Third parties
Contract liabilities
Other payables
Taxes payable
Accrued expenses
Customer deposits
Short-term bank loans
Current maturities of long-term
loans and other borrowings
Current maturities of lease liabilities
Total Current Liabilities
NON-CURRENT LIABILITIES
Deferred tax liabilities - net
Contract liabilities
Long service award provisions
Pension benefits and other post-employment
benefits obligations
Long-term loans and other borrowings
Lease liabilities
Other liabilities
Total Non-current Liabilites
TOTAL LIABILITIES
EQUITY
Capital stock
Additional paid-in capital
Other equity
Retained earnings
Appropriated
Unappropriated
Net equity attributable to:
Owners of the parent company
Non-controlling interests
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
3,32,37
4,32,37
5,32,37
5,37
6,32,37
37
7
11b
9
27a
27b
8,32
6,32,37
10,37
9
11,32,35a
12
14
27f
13,27,32,37
15,32,37
15,37
17a,32
37
27c
16,32,37
32
18a,32,37
18b,32,37
12,37
27f
17b,32
31
30
19,32,37
12,37
21
22
29
20
31,947
1,349
1,620
7,014
2,457
245
1,144
6
671
1,464
380
6,760
55,057
34
8,653
1,741
173,329
20,336
8,302
4,117
3,623
220,135
275,192
431
18,026
6,295
463
5,372
15,445
2,382
8,191
8,858
4,925
70,388
1,023
1,561
1,031
10,272
27,331
13,736
588
55,542
125,930
4,953
2,711
9,697
15,337
96,560
129,258
20,004
149,262
275,192
38,311
493
961
7,549
2,330
195
779
818
656
2,144
690
6,351
61,277
143
13,800
1,608
165,026
18,469
7,506
3,824
5,531
215,907
277,184
497
16,673
6,795
609
3,923
15,885
2,416
6,682
9,690
5,961
69,131
1,158
1,283
1,206
11,563
36,319
10,426
699
62,654
131,785
4,953
2,711
9,395
15,337
89,250
121,646
23,753
145,399
277,184
The accompanying notes form an integral part of these consolidated financial statements.
1
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE INCOME
For the Year Ended December 31, 2022
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
REVENUES
COST AND EXPENSES
Operation, maintenance, and telecommunication
service expenses
Depreciation and amortization expenses
Personnel expenses
General and administrative expenses
Interconnection expenses
Marketing expenses
Unrealized (loss) gain on changes in fair value of investments
Other income - net
Gain on foreign exchange - net
OPERATING PROFIT
Finance income
Finance cost
Share of loss of long-term investment in associates
PROFIT BEFORE INCOME TAX
INCOME TAX (EXPENSE) BENEFIT
Current
Deferred
PROFIT FOR THE YEAR
OTHER COMPREHENSIVE INCOME
Other comprehensive income to be reclassified to profit
or loss in subsequent periods:
Foreign currency translation
Changes in fair value of investments
Share of other comprehensive income of
long-term investment in associates
Other comprehensive income not to be reclassified to profit
or loss in subsequent periods:
Defined benefit actuarial gain - net
Other comprehensive income - net
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
Profit for the year attributable to:
Owners of the parent company
Non-controlling interests
Total comprehensive income for the year attributable to:
Owners of the parent company
Non-controlling interests
BASIC EARNINGS PER SHARE
(in full amount)
Net income per share
Net income per ADS (100 Series B shares per ADS)
Notes
23,32
2022
147,306
2021
143,210
25,32
11,12,14
24
26,32
32
32
10
32
32
10
27d
22
10a
10b
30
20
28
(38,184)
(33,255)
(14,907)
(5,854)
(5,440)
(3,929)
(6,438)
26
256
39,581
878
(4,033)
(87)
36,339
(9,259)
600
(8,659)
27,680
299
3
1
1,464
1,767
29,447
20,753
6,927
27,680
22,468
6,979
29,447
(38,133)
(31,816)
(15,524)
(5,016)
(5,181)
(3,633)
3,432
174
50
47,563
558
(4,365)
(78)
43,678
(9,556)
(174)
(9,730)
33,948
28
(2)
(1)
1,955
1,980
35,928
24,760
9,188
33,948
26,767
9,161
35,928
209.49
20,949.46
249.94
24,994.39
The accompanying notes form an integral part of these consolidated financial statements.
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3
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2022
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
Notes
2022
2021
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers and other operators
Cash receipts from tax refund
Cash receipts from finance income
Cash payments for expenses
Cash payments to employees
Cash payments for corporate and final income taxes
Cash payments for finance costs
Cash payments for short-term and low-value lease assets
Cash payments for value added taxes - net
Cash receipts from (payments for) others - net
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of property and equipment
Proceeds from insurance claims
Dividend received from associated company
Purchase of property and equipment
Purchase of intangible assets
Addition of long-term investment in financial instrument
Increase (decrease) in advances and other assets
(Placement in) proceeds from other current financial assets - net
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank loans and other borrowings
Proceeds from initial public offering of subsidiary
Proceeds from issuance of new shares of subsidiaries
Repayments of bank loans and other borrowings
Cash dividend paid to the Company's stockholders
Cash dividend paid to non-controlling interests of subsidiaries
Repayments of principal portion of lease liabilities
Placement in shares buyback from non-controlling interests by subsidiary
12
11
11
10
11,39
14,39
10
13
18,19
1e
18,19
21
20
146,268
2,411
865
(45,559)
(14,052)
(8,465)
(4,064)
(3,873)
(515)
338
143,902
3,768
564
(44,811)
(13,262)
(9,679)
(4,426)
(5,308)
(2,084)
(311)
73,354
68,353
526
299
17
(35,138)
(3,259)
(1,401)
560
(854)
756
133
-
(29,712)
(2,845)
(6,400)
(442)
807
(39,250)
(37,703)
35,958
-
45
(44,304)
(14,856)
(10,103)
(6,896)
(681)
46,612
18,463
-
(43,740)
(16,643)
(13,242)
(4,436)
-
Net cash used in financing activities
(40,837)
(12,986)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
(6,733)
17,664
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS
ALLOWANCE FOR EXPECTED CREDIT LOSSES
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR
CASH AND CASH EQUIVALENTS AT END OF THE YEAR
3
3
370
(1)
38,311
31,947
59
(1)
20,589
38,311
*Information on non-cash transactions are presented in Note 39
The accompanying notes form an integral part of these consolidated financial statements.
4
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL
a. Establishment and general information
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk. (the “Company”) was
originally part of “Post en Telegraafdienst”, which was established and operated commercially in
1884 under the framework of Decree No. 7 dated March 27, 1884 of the Governor General of the
Dutch Indies which was published in State Gazette No. 52 dated April 3, 1884.
In 1991, the status of the Company was changed into a state-owned limited liability corporation
(“Persero”) based on Government Regulation No. 25/1991. The ultimate parent of the Company is
the Government of the Republic of Indonesia (the “Government”) (Note 21).
The Company was established based on Notarial Deed No. 128 dated September 24, 1991 of Imas
Fatimah, S.H. The deed of establishment was approved by the Ministry of Justice of the Republic
of Indonesia in its Decision Letter No. C2-6870.HT.01.01.Th.1991 dated November 19, 1991 and
was published in State Gazette No. 5 dated January 17, 1992, Supplement No. 210.
The Company's Articles of Association have been amended several times, the latest amendments
made is in relation with adjustments of the Company’s business activities in the Articles of
Association with the Standard Classification of Indonesian Business Fields in 2020.
Amendments to the Articles of Association as stated in the Notary Deed of Ashoya Ratam, S.H.,
M.Kn. No. 37 dated June 22, 2022, the amendment has been received and approved by the
Minister of Law and Human Rights of the Republic of Indonesia (“MoLHR”) based on letter No.
AHU-0044650.AH.01.02. Year of 2022 dated June 29, 2022, concerning Acceptance of Notification
Approval of Amendment to the Articles of Association of the Limited Liability Company (Persero)
PT Telekomunikasi Indonesia Tbk.
In accordance with Article 3 of the Company’s Articles of Association, the scope of its activities is
to provide telecommunication network and telecommunication and information services, and to
optimize the Company’s resources to provide high quality and competitive goods and/or services
to gain/pursue profit in order to increase the value of the Company by applying the Limited Liability
Company principle. In regard to achieving its objectives, the Company is involved in the following
activities:
i. Main business:
(a) Planning, building, providing, developing, operating, marketing or selling or leasing, and
maintaining telecommunications and information networks in a broad sense in accordance
with prevailing laws and regulations.
(b) Planning, developing, providing, marketing or selling, and improving telecommunications
and information services in a broad sense in accordance with prevailing laws and
regulations.
(c) Investing, including in the form of equity capital in other companies in line with and to achieve
the purposes and objectives of the Company.
ii. Supporting business:
(a) Providing
payment
transactions
and money
transferring
services
through
telecommunications and information network.
(b) Performing other activities and undertakings in connection with the optimization of the
Company's resources, among which including the utilization of the Company's property and
equipment and movable assets, information systems, education and training, and repairs
and maintenance facilities.
(c) Collaborating with other parties in order to optimize the information, communication or
technology resources owned by other parties as services provider in the information,
communication and technology industry, as to achieve the purposes and objectives of the
Company.
5
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
a. Establishment and general information (continued)
The Company is domiciled and headquartered in Bandung, West Java, located at Jalan Japati
No. 1, Bandung.
The Company was granted several networks and/or services provision licenses by the Government
which are valid for an unlimited period of time as long as the Company complies with prevailing
laws and regulations and fulfills the obligation stated in those licenses. For every license issued by
the Ministry of Communication and Information (“MoCI”), an evaluation is performed annually and
an overall evaluation is performed every five years. The Company is obliged to submit reports of
networks and/or services annually to the Indonesian Directorate General of Post and Informatics
(“DGPI”), replacing the previously known as Indonesian Directorate General of Post and
Telecommunications (“DGPT”).
The reports comprising of several informations, such as network development progress, service
quality standard achievement, number of customers, license payment, and universal service
contribution. Meanwhile, for internet telephone services for public purpose, internet interconnection
service, and internet access service, additional information is required, such as operational
performance, customer segmentation, traffic, and gross revenue.
Details of these licenses are as follows:
License
License No.
Type of service
License to operate internet
telephone services for
public purpose
License to operate internet
service provider
License to operate content
service provider
License for the
implementation of
internet interconnection
services
License to operate data
communication system
services
License to operate IPTV
service provider
License of electronics
money issuer and money
transfer
License of operate fixed
network long distance
direct line
License to operate fixed
international network
License to operate fixed
closed network
License of operate circuit
switched-based local
fixed line network
127/KEP/DJPPI/
Internet telephone
KOMINFO/3/2016
services for
public purpose
2176/KEP/M.KOMINFO/ Internet service
12/2016
1040/KEP/M.KOMINFO/ Content service
16/2017
1004/KEP/M.KOMINFO/ Internet interconnection
2018
provider
provider
services
Grant date/latest
renewal date
March 30, 2016
December 30, 2016
May 16, 2017
December 26, 2018
046/KEP/M.KOMINFO/
02/2020
Data communication
system services
August 3, 2020
022/KEP/M.KOMINFO/
02/2021
Bank Indonesia License Electronics money and
23/587/DKSP/Srt/B
Multimedia IPTV service
provider
money transfer
February 25, 2021
July 1, 2021
073/KEP/M.KOMINFO/
02/2021
Fixed network long
distance direct line
August 23, 2021
service
082/KEP/M.KOMINFO/
02/2021
094/KEP/M.KOMINFO/
02/2021
095/KEP/M.KOMINFO/
02/2021
Fixed international
network
Fixed closed network
Circuit switched-based
and packet
switched-based
local fixed line network
October 8, 2021
December 9, 2021
December 9, 2021
6
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Company’s Board of Commissioners, Board of Directors, Audit Committee, Corporate
Secretary, Internal Audit, and Employees
i. Boards of Commissioners and Directors
Based on resolutions made at Annual General Meeting (“AGM”) of Stockholders of the
Company as covered by Notarial Deed of Ashoya Ratam, S.H., M.Kn., No. 34, dated June 18,
2021, the composition of the Company’s Boards of Commissioners and Directors as of
December 31, 2022 and 2021, respectively, were as follows:
2022
2021
Bambang Permadi
Soemantri Brojonegoro
Bambang Permadi
Soemantri Brojonegoro
Arya Mahendra Sinulingga Arya Mahendra Sinulingga
Rizal Mallarangeng
Isa Rachmatarwata
Ismail
Marcelino Rumambo Pandin Marcelino Rumambo Pandin
Bono Daru Adji
Wawan Iriawan
Abdi Negara Nurdin
Ririek Adriansyah
Bono Daru Adji
Wawan Iriawan
Abdi Negara Nurdin
Ririek Adriansyah
Rizal Mallarangeng
Isa Rachmatarwata
Ismail
President Commissioner/
Independent Commissioner
Commissioner
Commissioner
Commissioner
Commissioner
Commissioner
Independent Commissioner
Independent Commissioner
Independent Commissioner
President Director
Director of Finance dan
Risk Management
Director of Digital Business
Director of Strategic Portfolio
Director of Enterprise & Business Service* F.M. Venusiana R.
Director of Wholesale &
International Services
Bogi Witjaksono
Director of Human Capital Management Afriwandi
Director of Network & IT Solution
Director of Consumer Service
Herlan Wijanarko
F.M. Venusiana R.
Heri Supriadi
Muhamad Fajrin Rasyid
Budi Setyawan Wijaya
Heri Supriadi
Muhamad Fajrin Rasyid
Budi Setyawan Wijaya
Edi Witjara
Bogi Witjaksono
Afriwandi
Herlan Wijanarko
F.M. Venusiana R.
* On July 8, 2022, Mr. Edi Witjara was appointed as President Director of PT Industri Telekomunikasi Indonesia (Persero) and based on the Company's
Board of Commissioners Letter No. 073/SRT/DK/2022 dated July 11, 2022, Mrs. F.M. Venusiana R. was appointed as Temporary Replacement Officer
for Director of Enterprise & Business Service, whose term of service has been extended based on the Letter of the Company's Board of Commissioners
No. 167/SRT/DK/2022 dated December 6, 2022 regarding the Extension of Term of Service for Mrs. F.M. Venusiana R. as Officer (PLT) for Director of
Enterprise & Business Service.
ii. Audit Committee, Corporate Secretary, and Internal Audit
The composition of the Company’s Audit Committee, Corporate Secretary, and Internal Audit
as of December 31, 2022 and 2021, respectively, were as follows:
2022
2021
Chairman
Member
Member
Member
Member
Member
Corporate Secretary*
Internal Audit
Bono Daru Adji
Bambang Permadi
Soemantri Brojonegoro
Wawan Iriawan
Abdi Negara Nurdin
Bono Daru Adji
Bambang Permadi
Soemantri Brojonegoro
Wawan Iriawan
Abdi Negara Nurdin
Emmanuel Bambang Suyitno Emmanuel Bambang Suyitno
Edy Sihotang
R. Achmad Faisal
Daru Mulyawan
Edy Sihotang
Andi Setiawan
Harry Suseno Hadisoebroto
* On January 2, 2023, Mr. R. Achmad Faisal was replaced by Mr. Edwin Julianus Sebayang as Corporate Secretary.
7
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Company’s Board of Commissioners, Board of Directors, Audit Committee, Corporate
Secretary, Internal Audit, and Employees (continued)
iii. Employees
As of December 31, 2022 and 2021, the Company and its subsidiaries (collectively referred to
as the “Group”) had 20,951 employees and 20,884 employees, respectively.
c. Public offering of securities of the Company
The Company’s number of shares prior to its Initial Public Offering (“IPO”) totalled 8,400,000,000,
consisting of 8,399,999,999 Series B shares and 1 Series A Dwiwarna share, and were wholly-
owned by the Government. On November 14, 1995, 933,333,000 new Series B shares and
233,334,000 Series B shares owned by the Government were offered to the public through an IPO
and listed on the Indonesia Stock Exchange (“IDX”) and 700,000,000 Series B shares owned by
the Government were offered to the public and listed on the New York Stock Exchange (“NYSE”)
and the London Stock Exchange (“LSE”) in the form of American Depositary Shares (“ADS”). There
were 35,000,000 ADS and each ADS represented 20 Series B shares at that time.
In December 1996, the Government had a block sale of its 388,000,000 Series B shares, and
in 1997, distributed 2,670,300 Series B shares as incentive to the Company’s stockholders who
did not sell their shares within one year from the date of the IPO. In May 1999, the Government
further sold 898,000,000 Series B shares.
To comply with Law No. 1/1995 on Limited Liability Companies, at the AGM of Stockholders of
the Company on April 16, 1999, the Company’s stockholders resolved to increase the Company’s
issued share capital by the distribution of 746,666,640 bonus shares through the capitalization of
certain additional paid-in capital, which was made to the Company’s stockholders in August 1999.
On August 16, 2007, Law No. 1/1995 on Limited Liability Companies was amended by the
issuance of Law No. 40/2007 on Limited Liability Companies which became effective on the same
date. Law No. 40/2007 has no effect on the public offering of shares of the Company.
The Company has complied with Law No. 40/2007.
In December 2001, the Government had another block sale of 1,200,000,000 shares or
11.9% of the total outstanding Series B shares. In July 2002, the Government further sold a block
of 312,000,000 shares or 3.1% of the total outstanding Series B shares.
At the AGM of Stockholders of the Company held on July 30, 2004, the minutes of which were
covered by Notarial Deed No. 26 of A. Partomuan Pohan, S.H., LLM., the Company’s stockholders
approved the Company’s 2-for-1 stock split for Series A Dwiwarna and Series B share. The Series
A Dwiwarna share with par value of Rp500 per share was split into 1 Series A Dwiwarna share with
par value of Rp250 per share and 1 Series B share with par value of Rp250 per share. The stock
split resulted in an increase of the Company’s authorized capital stock from 1 Series A Dwiwarna
share and 39,999,999,999 Series B shares
to 1 Series A Dwiwarna share and
79,999,999,999 Series B shares, and the issued capital stock from 1 Series A Dwiwarna share and
10,079,999,639 Series B shares to 1 Series A Dwiwarna share and 20,159,999,279 Series B
shares. After the stock split, each ADS represented 40 Series B shares.
During the Extraordinary General Meeting (“EGM”) held on December 21, 2005 and the AGMs held
on June 29, 2007, June 20, 2008, and May 19, 2011, the Company’s stockholders approved
phase I, II, III, and IV plan, respectively, of the Company’s program to repurchase its issued
Series B shares.
8
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
c. Public offering of securities of the Company (continued)
During the period of December 21, 2005 to June 20, 2007, the Company had bought back
211,290,500 shares from the public (stock repurchase program phase I). On July 30, 2013, the
Company had sold all such shares.
At the AGM held on April 19, 2013 as covered by Notarial Deed No. 38 dated April 19, 2013 of
Ashoya Ratam, S.H., M.Kn., the stockholders approved the changes to the Company’s plan on the
treasury stock acquired under phase III. At the AGM held on April 19, 2013, the minutes of which
were covered by Notarial Deed No. 38 of Ashoya Ratam, S.H., M.Kn., the stockholders approved
the Company’s 5-for-1 stock split for Series A Dwiwarna and Series B shares. Series A Dwiwarna
share with par value of Rp250 per share was split into 1 Series A Dwiwarna share with par value
of Rp50 per share and 4 Series B shares with par value of Rp50 per share. The stock split resulted
in an increase of the Company’s authorized capital stock from 1 Series A Dwiwarna and
79,999,999,999 Series B shares to 1 Series A Dwiwarna and 399,999,999,999 Series B shares.
The issued capital stock increased from 1 Series A Dwiwarna and 20,159,999,279 Series B shares
to 1 Series A Dwiwarna and 100,799,996,399 Series B shares. After the stock split, each ADS
represented 200 Series B shares. Effective from October 26, 2016, the Company change the ratio
of Depositary Receipt from 1 ADS representing 200 series B shares to become 1 ADS representing
100 series B shares (Note 21). Profit per ADS information have been retrospectively adjusted to
reflect the changes in the ratio of ADS.
On May 16 and June 5, 2014, the Company deregistered from Tokyo Stock Exchange (“TSE”)
and delisted from the LSE, respectively.
As of December 31, 2022, all of the Company’s Series B shares are listed on the IDX and
38,896,686 ADS shares are listed on the NYSE (Note 21).
On June 16, 2015, the Company issued Continuous Bonds I Telkom Phase I 2015, with a nominal
amount of Rp2,200 billion for Series A with a seven-year period, Rp2,100 billion for Series B with
a ten-year period, Rp1,200 billion for Series C with a fifteen-year period, and Rp1,500 billion for
Series D with a thirty-year period, which respectively are listed on the IDX (Note 19b).
On December 21, 2015, the Company sold the remaining shares of treasury shares phase III.
On June 29, 2016, the Company sold the treasury shares phase IV.
At the AGM held on April 27, 2018 which were covered by Notarial Deed No. 54 of Ashoya Ratam,
S.H., M.Kn., the stockholders approved for cancellation of 1,737,779,800 shares of treasury stock
by reducing the Company’s capital stock.
9
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries
As of December 31, 2022 and 2021, the Company has consolidated the following directly and
indirectly owned subsidiaries (Notes 2b and 2d):
i. Direct subsidiaries:
Subsidiary
PT Telekomunikasi
Selular
(“Telkomsel”)
Nature of business
Mobile telecommunication
networks and service
Start year of
operation
commencement
1995
Percentage of ownership*
2022
2021
65
65
Total assets before
elimination
2022
100,991
2021
101,302
PT Dayamitra
Leasing of towers and other
1995
72
72
56,072
57,728
Telekomunikasi Tbk.
(“Mitratel”)
telecommunication services
PT Multimedia
Nusantara
(“Metra”)
Network telecommunication
services and multimedia
1998
100
100
18,710
18,758
PT Telekomunikasi
International telecommunication
1995
100
100
13,949
12,705
Indonesia
International
(“Telin”)
PT Sigma Cipta
Caraka
(“Sigma”),
previously
consolidated
under Metra
PT Telkom Satelit
Indonesia
(“Telkomsat”)
and information services
Consultation service of
hardware, computer
software, and
data center
Telecommunication - provides
satellite communication
system and its related
services and
infrastructures
1988
100
100
8,522
5,093
1996
100
100
6,470
5,515
PT Graha Sarana Duta
("GSD")
Developer, trade, service,
and transportation
PT Telkom Akses
(“Telkom Akses”)
Construction, service and
trade in the field of
telecommunication
1982
2013
100
100
5,865
5,884
100
100
5,308
4,973
PT Telkom Data
Ekosistem
(“TDE”),
previously was
PT Sigma Tata
Sadaya
PT Metra-Net
(“Metra-Net”)
PT Infrastruktur
Telekomunikasi
Indonesia
(“Telkom Infra”)
Data center
1996
100
100
3,202
3,411
Multimedia portal service
Construction, service and
trading in the field of
telecommunication
2009
2014
100
100
1,731
1,640
100
100
1,360
1,259
*Percentage of ownership amounting to 99.99% is presented with rounding of 100%.
All direct subsidiaries are domiciled in Indonesia.
10
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
i. Direct subsidiaries (continued):
Subsidiary
PT PINS Indonesia
Nature of business
Telecommunication
(“PINS”)
construction and services
PT Napsindo
Primatel
Internasional
(“Napsindo”)
Telecommunication -
provides Network Access
Point ("NAP"), Voice Over
Data ("VOD"), and other
related sevices
1999; ceased
operations on
January 13,
2006
*Percentage of ownership amounting to 99.99% is presented with rounding of 100%.
All direct subsidiaries are domiciled in Indonesia.
Start year of
operation
commencement
1995
Percentage of ownership*
Total assets before
elimination
2022
2021
2022
100
100
797
2021
1,589
60
60
5
5
ii. Indirect subsidiaries:
Subsidiary
PT Metra Digital
Nature of business
Trading service related to
Investama
(“MDI”)
Telekomunikasi
Indonesia
International Pte. Ltd.
("Telin Singapore"),
domiciled in Singapore
information and
technology, multimedia,
entertainment, and
investment
Telecommunication and
related services
Telekomunikasi
Indonesia
International Ltd.
("Telin Hong Kong"),
domiciled in Hong Kong
Investment holding and
telecommunication
services
Start year of
operation
commencement
2013
Percentage of ownership*
2022
100
2021
100
Total assets before
elimination
2022
9,019
2021
5,784
2008
100
100
3,678
3,272
2010
100
100
2,981
2,998
PT Infomedia
Nusantara
(“Infomedia”)
Data and information
1984
100
100
2,268
2,359
service - provides
telecommunication
information services and
other information services
in the form of print and
electronic media and call
center services
PT Telkom Landmark
Tower
(“TLT”)
Property development
and management
services
2012
55
55
2,100
2,139
PT Persada Sokka
Leasing of towers and other
2008
100
100
1,401
1,097
Tama
("PST")
telecommunication services
PT Finnet Indonesia
Information technology
2006
60
60
1,248
1,294
(“Finnet”)
services
PT Nuon Digital Indonesia Digital content exchange
2010
100
100
1,199
1,187
(“Nuon”),
previously was
PT Melon Indonesia
hub services
*Percentage of ownership amounting to 99.99% is presented with rounding of 100%.
Other than those specifically stated, indirect subsidiaries are domiciled in Indonesia.
11
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
ii. Indirect subsidiaries (continued):
Subsidiary
Nature of business
Telecommunication
information and
other information services
PT Metra Digital
Media
(“MD Media”)
PT Telkomsel Mitra
Inovasi
(“TMI”)
Start year of
operation
commencement
2013
Percentage of ownership*
Total assets before
elimination
2022
2021
2022
100
100
986
2021
1,201
Business management
2019
100
100
945
692
consulting and investment
services
Telekomunikasi
Indonesia
International (TL) S.A.
("Telkomcel"),
domiciled in Timor Leste
Telecommunication
networks, mobile,
internet, and
data services
PT Telkomsel
Ekosistem Digital
("TED")
PT Administrasi
Medika
(“Ad Medika”)
Provides service related
to information and
technology, multimedia,
entertainment, and
investment
Health insurance
administration services
2012
100
100
836
708
2021
100
100
807
197
2002
100
100
632
543
TS Global
Satellite services
1996
70
70
566
596
Network Sdn. Bhd.
(“TSGN”),
domiciled in Malaysia
PT Swadharma
Sarana Informatika
(“SSI”)
Cash replenishment
services and
ATM maintenance
2001
51
51
458
489
PT Digital Aplikasi
Communication system
2014
100
100
384
389
Solusi
("Digiserve")
services
PT Nusantara Sukses
Service and trading
2014
100
100
301
313
Investasi
(“NSI”)
Telekomunikasi
Indonesia
International Inc.
(“Telin USA”),
domiciled in USA
Telecommunication and
information services
2014
100
100
294
191
PT Graha Yasa Selaras
Tourism service
(”GYS”)
PT Nutech Integrasi
(“Nutech”)
System integrator
service provider
PT Graha Telkomsigma
Management and
("GTS")
consultation services
PT Collega Inti Pratama
Trading and services
("CIP")
Telekomunikasi
Indonesia Intl
(Malaysia) Sdn. Bhd.
(”Telin Malaysia”),
domiciled in Malaysia
Telecommunication and
information services
2012
2001
1999
2001
2013
51
51
285
283
60
60
273
198
100
100
190
205
70
70
70
173
170
70
125
27
PT Media Nusantara
Consultation services
2012
55
55
116
119
Data Global
("MNDG")
*Percentage of ownership amounting to 99.99% is presented with rounding of 100%
Other than those specifically stated, indirect subsidiaries are domiciled in Indonesia.
12
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1.
GENERAL (continued)
d. Subsidiaries (continued)
ii. Indirect subsidiaries (continued):
Subsidiary
Nature of business
PT Bosnet Distribution Trade and consultation
Start year of
operation
commencement
2012
Percentage of ownership*
Total assets before
elimination
2022
2021
2022
2021
60
60
36
36
Indonesia
(“BDI”)
PT Metra TV
(“Metra TV”)
services
Subscription broadcasting
2013
100
100
34
services
PT Pojok Celebes
Travel agent services
2008
100
100
33
26
45
Mandiri
("PCM")
Telecommunication and
information services
Telekomunikasi
Indonesia
International
(Australia) Pty. Ltd.
(“Telin Australia”),
domiciled in Australia
2013
100
100
33
34
PT Metraplasa
(“Metraplasa”)
Network and e-commerce
2012
60
60
30
61
services
PT Teknologi Data
Telecommunication service
2013
100
100
7
8
and data center
Infrastruktur
(“TDI”),
previously was
PT Satellit Multimedia
Indonesia
*Percentage of ownership amounting to 99.99% is presented with rounding of 100%.
Other than those specifically stated, indirect subsidiaries are domiciled in Indonesia.
e.
Initial public offering and acquisition transactions in subsidiaries
i. Mitratel
Based on the Deed of Decision of the Shareholders Outside the General Meeting of
Shareholders (Circular) No. 31 dated August 21, 2021 from Notary Ashoya Ratam, S.H., M.Kn.,
the shareholders of Mitratel decided and approved the change of Mitratel's status from a private
company to a public company under the name of PT Dayamitra Telekomunikasi Tbk.
On November 12, 2021, Mitratel received an effective statement from the Financial Services
Authority ("OJK") with letter No. S-201/D.04/2021 to conduct an initial public offering (“IPO”) of
23,493,524,800 ordinary shares with a par value of Rp228 per share and an offering price of
Rp800 per share. On November 22, 2021, Mitratel's shares have been listed on IDX based on
Letter No. S-08617/BEI.PP3/11-2021 regarding Approval of Securities Listing dated November
15, 2021.
Mitratel obtained IPO funds amounting to Rp18,463 billion (after deducted by share issuance
costs), so that the Company's share ownership in Mitratel diluted from 99.99% to 71.87%.
Hence, the Company still controls Mitratel.
For this transaction, the Company has been accounted the difference in non-controlling
ownership transactions are as follows:
Proceeds from IPO of 28.13% ownership interests
Net assets attributable to non-controlling interests
Increase in equity attributable to parent company
18,463
(9,397)
9,066
On June 2, 2022, Mitratel announced to buyback its shares with a maximum amount of
Rp1,000 billion. The buyback period of Mitratel's shares is for three months starting from
June 2, 2022 to September 2, 2022. Mitratel has exercised buyback of 885,200,000 of its shares
or equivalent to Rp681 billion.
13
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
1. GENERAL (continued)
e.
Initial public offering and acquisition transactions in subsidiaries (continued)
ii. Metra
On August 29, 2014, Metra and Telstra Holding Singapore Pte. Ltd. established PT Teltranet
Aplikasi Solusi (“Teltranet”), currently known as PT Digital Aplikasi Solusi (“Digiserve”).
Metra's share ownership in Teltranet was 51%. Metra had no control in determining the financial
and operating policies of Teltranet, hence it was recognized as ownership in associates.
Based on the Share Purchase Agreement dated August 31, 2021, Metra purchased Digiserve's
shares owned by Telstra Holdings Singapore Pte. Ltd. as many as 13,115,477 shares or
equivalent to 49% share ownership with an acquisition value of AU$1, thus becoming a
subsidiary of Metra.
As of December 31, 2021, Metra has recorded the difference between the acquisition value and
fair value, resulting in goodwill recognized amounted to Rp64 billion (Note 14).
iii. TDE
TDE was previously Sigma’s subsidiary. Based on Share Acquisition Deed No. 388 dated
December 27, 2021 of Jimmy Tanal, S.H., M.Kn., the Company entered into a takeover of TDE’s
shares, so that the Company's ownership in TDE became 99.89%, impacting Sigma’s
ownership which diluted to 0.11%. The Company purchased 2,106,465,158,910 series B shares
of TDE or equivalent to Rp2,106 billion. The Company has made cash payments of Rp1,250
billion and paid-up capital in other forms (“inbreng”) of Rp856 billion for the takeover of TDE’s
shares.
iv. Telkomsel
Based on the Resolution of Shareholders on December 14, 2021, Telkomsel established a
subsidiary, namely PT Telkomsel Ekosistem Digital (“TED”), which was formalized by Notarial
Deed No. 19 dated December 16, 2021 of Bonardo Nasution, S.H. The total paid-up capital of
TED were 197,000 shares (Rp1,000,000 par value per share). Telkomsel own 196,989 shares
and paid Rp197 billion on December 29, 2021.
v. Sigma
Based on Notarial Deed No. 120 dated April 19, 2022 of Jimmy Tanal, S.H., M.Kn., the
Company acquired Sigma shares from Metra, resulted in 56.39% ownership by the Company
and diluting Metra’s ownership into 43.61%.
f. Completion and authorization for the issuance of the consolidated financial statements
The Company’s management is responsible for the preparation and fair presentation of these
consolidated financial statements in accordance with Indonesian Financial Accounting Standards,
which have been completed and authorized for issuance by the Board of Directors of the Company
on March 24, 2023.
14
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Group consolidated financial statements have been prepared in accordance with Financial
Accounting Standards ("Standar Akuntansi Keuangan” or “SAK") including Indonesian Statement of
Financial Accounting Standards ("Pernyataan Standar Akuntansi Keuangan" or “PSAK”) and
interpretation of Financial Accounting Standards ("Interpretasi Standar Akuntansi Keuangan" or “ISAK”)
in Indonesia published by the Financial Accounting Standards Board of Institute of Indonesian
Chartered Accountants and Regulation No. VIII.G.7 of the Capital Market and Financial Institution
Supervisory Agency (“Bapepam-LK”) regarding the Presentation and Disclosure of Financial
Statements of Issuers or Public Companies, enclosed in the decision letter KEP-347/BL/2012.
a. Basis of preparation of consolidated financial statements
The consolidated financial statements, except for the consolidated statements of cash flows, are
prepared on accrual basis. The measurement basis used is historical cost, except for certain
accounts which are measured using the basis mentioned in the relevant notes herein.
The consolidated statements of cash flows are prepared using the direct method and present the
changes in cash and cash equivalents from operating, investing, and financing activities.
Figures in the tables of the consolidated financial statements are presented and rounded to billions
of Indonesian rupiah (“Rp”) and millions of US$, unless otherwise stated. Figures in the
consolidated financial statements which still contain values but below Rp1 billion and US$ 1 million,
are presented with zero.
New accounting standards
On January 1, 2022, the Group adopted the new and revised statement of financial accounting
standards and interpretations of financial accounting standards effective from that date.
Adjustments to the Group's accounting policies have been made as required, in accordance with
the transitional provisions of the respective standards and interpretations. The adoption of the new
and revised standards and interpretations did not result in major changes to the Group's accounting
policies and had no material effect on the amounts reported for the current or prior financial year:
i. Amendment to PSAK 22: Business Combinations
ii. Amendments to PSAK 57: Provisions, Contingent Liabilities, and Contingent Assets
iii. Annual Improvement of PSAK 71: Financial Instruments
iv. Annual Improvement of PSAK 73: Leases
Accounting standards issued but not yet effective
Effective January 1, 2023
i. Amendment PSAK 1: Presentation of Financial Statements
This amendment changes the term “significant” to “material” and provides an explanation
regarding material accounting policies.
ii. Amendment PSAK 16: Fixed Assets
This amendment regulates the treatment of results before the intended use.
iii. Amendment PSAK 25: Accounting Policies, Changes in Accounting Estimates, and Errors
This amendment provides a new definition of “accounting estimates” and explanations.
iv. Amendment to PSAK 46: Income Tax on Deferred Tax on Assets and Liabilities arising from
a Single Transaction
This amendment provides for the recognition of a deferred tax asset or liability on initial
recognition of a transaction that gives rise to an equal amount of asset and liability.
15
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
a. Basis of preparation of consolidated financial statements (continued)
Accounting standards issued but not yet effective (continued)
Effective January 1, 2024
i. Amendment PSAK 1: Presentation of Financial Statements
This amendment clarifies long-term liabilities with covenant and the classification of liabilities as
short-term liabilities or long-term liabilities
ii. Amendment PSAK 73: Leases
This amendment regulates lease liabilities in sale and leaseback transactions.
b. Principles of consolidation
The consolidated financial statements consist of the financial statements of the Company and the
subsidiaries over which it has control. Control is achieved when the Group is exposed, or has rights,
to variable returns from its involvement with the investee and has the ability to affect those returns
through its power over the investee. Specifically, the Group controls an investee if and only if the
Group has the power over the investee, exposure or rights, to variable returns from its involvement
with the investee, and the ability to use its power over the investee to affect its returns.
Generally, there is a presumption that a majority of voting rights results in control. To support this
presumption and when the Group has less than a majority of the voting or similar rights of an
investee, the Group considers all relevant facts and circumstances in assessing whether it has
power over an investee, including:
i. The contractual arrangement with the other vote holders of the investee,
ii. Rights arising from other contractual arrangements, and
iii. The Group's voting rights and potential voting rights.
The Group re-assesses whether it controls an investee if facts and circumstances indicate that
there are changes to one or more of the three elements of control. Consolidation of a subsidiary
begins when the Group obtains control over the subsidiary and ceases when the Group loses
control over the subsidiary. Assets, liabilities, income and expenses, of a subsidiary acquired or
disposed of during the year are included in the consolidated statements of profit or loss and other
comprehensive income from the date the Group gain control until the date the Group ceases to
control the subsidiary.
Profit or loss and each component of other comprehensive income (“OCI”) are attributed to the
equity holders of the Company and to the non-controlling interests, even if this results in the non-
controlling interests having a deficit balance.
All intra-Group assets and liabilities, equity, revenue and expenses and cash flow relating to
transactions within Group are fully eliminated on consolidation.
In case of loss of control over a subsidiary, the Group:
i. derecognizes the assets (including goodwill) and liabilities of the subsidiary at the carrying
amounts on the date when it loses control;
ii. derecognizes the carrying amounts of any non-controlling interests of its former subsidiary on
the date when it loses control;
iii. recognizes the fair value of the consideration received (if any) from the transaction, events, or
condition that caused the loss of control;
iv. recognizes the fair value of any investment retained in the subsidiary at fair value on the date of
loss of control; and
v. recognizes any surplus or deficit in profit or loss that is attributable to the Company’s owner.
16
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
c. Transactions with related parties
The Group has transactions with related parties. The definition of related parties used is in
accordance with the Bapepam-LK’s Regulation No. VIII.G.7 regarding the Presentations and
Disclosures of Financial Statements of Issuers or Public Companies, enclosed in the decision letter
No. KEP-347/BL/2012. The party which is considered as a related party is a person or entity that
is related to the entity that is preparing its financial statements.
Under the Regulation of Bapepam-LK No. VIII.G.7, a government-related entity is an entity that is
controlled, jointly controlled or significantly influenced by the government. Government in this
context is the Minister of Finance or the Local Government, as the shareholder of the entity.
Key management personnel are identified as the persons having authority and responsibility for
planning, directing and controlling the activities of the entity, directly or indirectly, including any
director (whether executive or otherwise) of the Group. The related party status extends to the key
management of the subsidiaries to the extent they direct the operations of subsidiaries with minimal
involvement from the Company’s management.
d. Business combinations and goodwill
Business combination is accounted for using the acquisition method. The consideration transferred
is measured at fair value, which is the aggregate of the fair value of the assets transferred, liabilities
incurred or assumed, and the equity instruments issued in exchange for control of the acquiree.
For each business combination, non-controlling interest is measured at fair value or at the
proportionate share of the acquiree’s identifiable net assets. The choice of measurement basis is
made on a transaction-by-transaction basis. Acquisition-related costs are expensed as incurred.
The acquiree’s identifiable assets and liabilities are recognized at their fair values at the acquisition
date.
Goodwill is initially measured at cost, being the excess of the aggregate of the consideration
transferred and the amount recognized for non-controlling interests, and any previous interest
held, over the net identifiable assets acquired and liabilities assumed. If the fair value of net assets
acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether
it has correctly identified all of the assets acquired and all of the liabilities assumed, and reviews
the procedures used to measure the amounts to be recognized at the acquisition date. If the re-
assessment still results in an excess of the fair value of net assets acquired over the aggregate
consideration transferred, then the gain is recognized in profit or loss.
When the determination of consideration from a business combination includes contingent
consideration, it is measured at its fair value on acquisition date. Contingent consideration is
classified either as equity or a financial liability. Amounts classified as a financial liability are
subsequently remeasured to fair value with changes in fair value recognized in profit or loss when
adjustments are recorded outside the measurement period. Changes in the fair value of the
contingent consideration that qualify as measurement period adjustments are adjusted
retrospectively, with corresponding adjustments made against goodwill. Measurement-period
adjustments are adjustments that arise from additional information obtained during the
measurement period, which cannot exceed one year from the acquisition date, about facts and
circumstances that existed at the acquisition date.
If the initial accounting for a business combination is incomplete by the end of the reporting period
in which the combination occurs, the Group shall report in its consolidated financial statements
provisional amounts for the items for which the accounting is incomplete. During the measurement
period, the Group shall retrospectively adjust the provisional amounts recognized at the acquisition
date to reflect new information obtained about facts and circumstances that existed as of the
acquisition date and, if known, would have affected the measurement of the amounts recognized
as of that date. The measurement period ends immediately after the Company receives the
information about the facts and circumstances that existed at the acquisition date or learns that
additional information cannot be obtained. However, the measurement period must not exceed one
year from the date of acquisition.
17
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
d. Business combinations and goodwill (continued)
In a business combination achieved in stages, the acquirer remeasures its previously held equity
interest in the acquiree at its acquisition-date fair value and recognizes the resulting gain or loss, if
any, in profit or loss.
Based on PSAK 38 (Revised 2012), “Common Control Business Combination”, the transfer of
assets, liabilities, shares or other ownership instruments among the companies under common
control would not result in a gain or loss for the Company or individual entity in the same group.
Since the restructuring transaction between entities under common control does not result in a
change of the economic substance of the ownership of assets, liabilities, shares, or other
instruments of ownership, which are exchanged, assets or liabilities transferred are recorded at
book value using the pooling-of-interests method.
In applying the pooling-of-interests method, the components of the financial statements for the
period during the restructuring occurred must be presented in such a manner as if the restructuring
has occurred since the beginning of the earliest period presented. The excess of consideration paid
or received over the carrying value of interest acquired, net of income tax, is directly recognized to
equity and presented as “Additional Paid-in Capital” under the equity section of the consolidated
statement of financial position.
At the initial application of PSAK 38 (Revised 2012), all balances of the Difference In Value of
Restructuring Transactions of Entities under Common Control was reclassified to “Additional Paid-
in Capital” in the consolidated statement of financial position.
e. Cash and cash equivalents
Cash and short-term deposits in the statement of financial position comprise cash in banks and on
hand and short-term highly liquid deposits with a maturity of three months or less, that are readily
convertible to a known amount of cash and subject to an insignificant risk of changes in value.
For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of
cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are
considered an integral part of the Group’s cash management.
Time deposits with maturities of more than three months but not more than one year are
presented as part of “Other current financial assets” in the consolidated statements of financial
position (Note 2u).
f.
Investments in associates
An associate is an entity over which the Group (as investor) has significant influence. Significant
influence is the power to participate in the financial and operating policy decisions of the investee,
but does not include control or joint control over those operating policies. The considerations made
in determining significant influence are similar to those necessary to determine control over
subsidiaries. Holding of 20% or more of the voting power of the investee (held directly or indirectly,
through subsidiaries) is presumed to give rise to significant influence, unless it can be clearly
demonstrated that this is not the case. Conversely, a holding of less than 20% of the voting power
is presumed not to give rise to significant influence, unless it can be clearly demonstrated that there
is in fact significant influence.
18
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
f.
Investments in associates (continued)
The existence of significant influence will usually be evidenced in one or more of the following ways:
representation on the boards of directors and commisioners or equivalent governing body of
i.
the investee;
ii. participation in policy-making processes, including participation in decisions about dividends
and other distributions;
iii. material transactions between the investor and the investee;
iv. interchange of managerial personnel;
v. provision of essential technical information.
The Group’s investments in its associates are accounted for using the equity method.
Under the equity method, the investment in an associate is initially recognized at cost. The carrying
amount of the investment is adjusted to recognize changes in the investor’s share of the net assets
of the associate since the acquisition date. On acquisition of the investment, any difference between
the cost of the investment and the entity's share of the net fair value of the investee's identifiable
assets and liabilities is accounted for as follows:
i. Goodwill relating to an associate, or a joint venture is included in the carrying amount of the
investment and is neither amortized nor individually tested for impairment, and
ii. Any excess of the entity's share of the net fair value of the investee's identifiable assets and
liabilities over the cost of the investment is included as income in the determination of the
entity's share of the associate or joint venture's profit or loss in the period in which the
investment is acquired.
The consolidated statements of profit or loss and other comprehensive income reflect the Group’s
share of the results of operations of the associate. Any change in the other comprehensive income
of the associate is presented as part of other comprehensive income. In addition, when there has
been a change recognized directly in the equity of the associate, the Group recognizes its share of
the change in the consolidated statements of changes in equity. Unrealized gain and losses
resulting from transactions between the Group and the associate are eliminated to the extent of the
interest in the associate.
The Group determines at each reporting date whether there is any objective evidence that the
investments in associated companies are impaired. If there is, the Group calculates and recognizes
the amount of impairment as the difference between the recoverable amount of the investments in
the associates and their carrying value.
These assets are included in “Long-term investments” in the consolidated statements of financial
position.
For the reporting purpose of investment in associates using the equity method, the assets and
liabilities as of the statement of financial position date with functional currency other than Rupiah
are translated into Indonesian rupiah using the rate of exchange prevailing at that date, while
revenues and expenses are translated into Indonesian rupiah at the average rates of exchange for
the year. The resulting translation adjustments are reported as part of “translation adjustment” in
the equity section of the consolidated statements of financial position.
g. Trade and other receivables
Trade and other receivables are recognized initially at fair value and subsequently measured at
amortized cost, less a loss allowance based on lifetime expected credit losses at each reporting
date. The Group has made allowance for expected credit losses based on the collective
assessment of historical impairment rates and individual assessment of its customers’ credit
history, adjusted for forward-looking factors specific from the customers and the economic
environment. Receivables are written-off in the year are determined to be uncollectible (Note 2u).
19
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
h. Inventories
Inventories consist of components, which represent telephone terminals, cables, and other spare
parts. Inventories also include Subscriber Identification Module ("SIM") cards, handsets, wireless
broadband modems, and prepaid vouchers which are expensed upon sale.
Inventories are valued at the lower of cost and net realizable value. Net realizable value is
determined by either estimating the selling price in the ordinary course of business, less estimated
cost to sell or determining the prevailing replacement costs.
The costs of inventories consist of the purchase price, import duties, other taxes, transport,
handling, and other costs directly attributable to their acquisition.
Cost is determined using the weighted average method.
The amounts of any write-down of inventories below cost to net realizable value and all losses
of inventories are recognized as an expense in the period in which the write-down or loss occurs.
The amount of any reversal of any write-down of inventories, arising from an increase in net
realizable value, is recognized as a reduction in the amount of general and administrative expenses
in the year in which the reversal occurs.
Provision for obsolescence is primarily based on the estimated forecast of future usage of these
inventory items.
i. Prepaid expenses
Prepaid expenses are amortized over their future beneficial periods using the straight-line method.
j. Assets held for sale
Assets (or disposal groups) are classified as held for sale when their carrying amount is to be
recovered principally through a sale transaction rather than through continuing use and a sale is
considered highly probable. Assets held for sale are stated at the lower of carrying amount and fair
value less costs to sell.
Assets that meet the criteria to be classified as held for sale are reclassified from property and
equipment and depreciation on such assets is ceased.
k.
Intangible assets
Intangible assets mainly consist of software. Intangible assets are recognized if it is highly probable
that the expected future economic benefits that are attributable to each asset will flow to the Group,
and the cost of the asset can be reliably measured.
Intangible assets are stated at cost less accumulated amortization and impairment losses, if any.
Intangible assets are amortized over their estimated useful lives. The amortisation period and the
amortisation method for an intangible asset with a finite useful life are reviewed at least at the end
of each reporting period. When the carrying amount of an intangible asset exceeds its estimated
recoverable amount, the asset is written down to its estimated recoverable amount.
20
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
k.
Intangible assets (continued)
Intangible assets except goodwill, are amortized using the straight-line method, based on the
estimated useful lives of the intangible assets as follows:
Software
License
Other intangible assets
Years
3-6
3-20
1-30
Intangible assets are derecognized on disposal, or when no further economic benefits are
expected, either from further use or from disposal. The difference between the carrying amount
and the net proceeds received from disposal is recognized in the consolidated statements of profit
or loss and other comprehensive income.
l. Property and equipment
Property and equipment are stated at cost less accumulated depreciation, and impairment losses,
if any.
The cost of an item of property and equipment includes: (a) purchase price, (b) any costs directly
attributable to bringing the asset to its location and condition, and (c) the initial estimate of the costs
of dismantling and removing the item and restoring the site on which it is located. Each part of an
item of property and equipment with a cost that is significant in relation to the total cost of the item
is depreciated separately.
Property and equipment, except land rights, are depreciated using the straight-line method based
on the estimated useful lives of the assets as follows:
Buildings
Leasehold improvements
Switching equipment
Telegraph, telex, and data communication equipment
Transmission installation and equipment
Satellite, earth station, and equipment
Cable network
Power supply
Data processing equipment
Vehicles
Other telecommunication peripherals
Office equipment
Other equipment
Years
15-50
2-15
3-15
5-15
3-40
3-20
5-25
3-20
3-20
4-8
5
2-5
2-5
Significant expenditures related to leasehold improvements are capitalized and depreciated over
the lease term.
The depreciation method, useful life, and residual value of an asset are reviewed at least at each
financial year-end and adjusted, if appropriate. Based on review the useful life of towers in
Indonesia are changed from previous year in line with technological development and changes in
the level of usage expectations. The residual value of an asset is the estimated amount that the
Group would currently obtain from disposal of the asset, after deducting the estimated costs of
disposal, if the asset is already of the age and in the condition expected at the end of its useful life.
21
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
l. Property and equipment (continued)
Property and equipment acquired in exchange for a non-monetary asset or for a combination of
monetary and non-monetary assets are measured at fair value unless, (i) the exchange
transaction lacks commercial substance; or (ii) the fair value of neither the asset received, nor the
asset given up is measured reliably.
Major spare parts and standby equipment that are expected to be used for more than 12 months
are recorded as part of property and equipment.
When assets are retired or otherwise disposed of, their cost and the related accumulated
depreciation are derecognized from the consolidated statement of financial position and the
resulting gains or losses on the disposal or sale of the property and equipment are recognized in
the consolidated statements of profit or loss and other comprehensive income.
Certain computer hardware can not be used without the availability of certain computer software.
In such circumstance, the computer software is recorded as part of the computer hardware. If the
computer software is independent from its computer hardware, it is recorded as part of intangible
assets.
The cost of maintenance and repairs are charged to the consolidated statements of profit or loss
and other comprehensive income as incurred. Significant renewals and betterments are capitalized
to the related property and equipment account.
Property under construction is stated at cost less impairment (if any), until the construction is
completed, at which time it is reclassified to the property and equipment account to which it relates.
During the construction period until the property is ready for its intended use or sale, borrowing
costs, which include interest expense and foreign currency exchange differences incurred on loans
obtained to finance the construction of the asset, as long as it meets the definition of a qualifying
asset are, capitalized in proportion to the average amount of accumulated expenditures during the
period. Capitalization of borrowing cost ceases when the construction is completed, and the asset
is ready for its intended use or sale.
m. Leases
The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the
contract conveys the right to control the use of an identified asset for a period of time in exchange
for consideration. The lease term corresponds to the non-cancellable period of each contract,
except in cases where the Group is reasonably certain of exercising renewal options contractually
foreseen.
The Group has made use of the package of practical expedients available under PSAK 73, which
among other things:
•
•
the use of a single discount rate to a portfolio of leases with reasonably similar characteristics;
the accounting for operating leases with a remaining lease term of less than 12 months as
short-term leases;
the exclusion of initial direct costs for the measurement of the right-of-use assets (“ROU”) as
short-term leases;
the use of hindsight in determining the lease term where the contract contains options to
extend or terminate the lease;
•
•
• not to separate non-lease components from lease components, and instead, account for both
as a single lease component; and
• not to recognize a lease liability and a ROU asset for leases where the underlying assets are
low-value assets (i.e. underlying assets with a maximum value of US$5,000 or Rp50 million
when it is new).
22
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
m. Leases (continued)
The Group applies the definition of a lease and related guidance set out in PSAK 73 to all lease
contracts.
i. The Group as lessee
The Group applies a single recognition and measurement approach for all leases, except for
short-term leases and leases of low-value assets. The Group recognizes lease liabilities to
make lease payments and ROU assets representing the right to use the underlying assets.
The Group recognizes ROU assets at the commencement date of the lease. ROU assets are
measured at cost, less any accumulated amortization and impairment losses, and adjusted for
any remeasurement of lease liabilities. The cost of ROU assets includes the amount of lease
liabilities recognized, initial direct costs incurred, restoration costs and lease payments made
at or before the commencement date less any lease incentives received.
ROU assets are amortized on a straight-line basis over the shorter of the lease term and the
estimated useful lives of the assets, as follows:
Land rights
Buildings
Transmission installation and equipment
Vehicles
Others
Years
1-33
1-15
3-25
4-8
2-25
If ownership of the leased asset transfers to the Group at the end of the lease term or the cost
reflects the exercise of a purchase option, depreciation is calculated using the estimated useful
life of the asset. The ROU assets are subject to impairment in accordance with PSAK 48
Impairment of Assets.
Lease liabilities
At the commencement date of the lease, the Group recognizes lease liabilities measured at
the present value of lease payments to be made over the lease term. The lease payments
include fixed payments (including in substance fixed payments) less any lease incentives
receivable, variable lease payments that depend on an index or a rate, and amounts expected
to be paid under residual value guarantees. The lease payments also include the exercise
price of a purchase option reasonably certain to be exercised by the Group and payments of
penalties for terminating the lease, if the lease term reflects the Group exercising the option to
terminate. Variable lease payments that do not depend on an index or a rate are recognized
as expenses in the period in which the event or condition that triggers the payment occurs.
In calculating the present value of lease payments, the Group uses its incremental borrowing
rate at the lease commencement date because the interest rate implicit in the lease is not
readily determinable. After the commencement date, the amount of lease liabilities is
increased to reflect the accretion of interest and reduced for the lease payments made. In
addition, the carrying amount of lease liabilities is remeasured if there is a modification, a
change in the lease term, a change in the lease payments, or a change in the assessment of
an option to purchase the underlying asset.
Short-term leases with a duration of less than 12 months and low-value assets leases, as well
as those lease elements, partially or totally not complying with the principles of recognition
defined by PSAK 73 will be treated similarly to operating leases. The Group will recognize
those lease payments on a straight-line basis over the lease term in the consolidated
statements of profit or loss and other comprehensive income.
23
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
m. Leases (continued)
ii. The Group as lessor
Under PSAK 73, a lessor continues to classify leases as either finance leases or operating
leases and account for those two types of leases differently. Leases in which the Group transfers
substantially all the risks and rewards incidental to ownership of an asset are classified as
finance leases, otherwise it will be classified as operating leases. Lease classification is made
at the inception date and is reassessed only if there is a lease modification.
At the commencement date, the Group recognizes assets held under a finance lease at an
amount equal to the net investment in the lease and present it as finance lease receivable. The
net investment in the lease includes fixed payments (including in substance fixed payments)
less any lease incentives receivable, variable lease payments that depend on an index or a rate,
and residual value guarantees provided to the lessor by the lessee. The lease payments also
include the exercise price of a purchase option reasonably certain to be exercised by the lessee
and payments of penalties for terminating the lease, if the lease term reflects the Group
exercising the option to terminate.
As required by PSAK 71, an allowance for expected credit loss has been recognized on the
finance lease receivables and presented under “Other receivables”.
Rental income arising from operating leases is accounted for on a straight-line basis over the
lease terms and is included in revenue in the consolidated statement of profit or loss and other
comprehensive income due to its operating nature. Initial direct costs incurred in negotiating and
arranging an operating lease are added to the carrying amount of the underlying assets and
recognized over the lease term on the same basis as rental income. Contingent rents are
recognized as revenue in the period in which they are earned.
If an arrangement contains lease and non-lease components, the Group applies PSAK 72
Revenue from Contracts with Customers to allocate the consideration in the contract. Revenue
arising from operating lease is recorded as Revenue from lessor transactions (Note 2r).
n. Deferred charges - land rights
Costs incurred to process the initial legal land rights are recognized as part of the property and
equipment and are not amortized. Costs incurred to process the extension or renewal of legal land
rights are deferred and amortized using the straight-line method over the shorter of the legal term
of the land rights or the economic life of the land.
o. Trade payables
Trade payables are obligations to pay for goods and/or services that have been acquired from
suppliers in the ordinary course of business. Trade payables are classified as current liabilities if
the payment is due within one year or less. If not, they are presented as non-current liabilities.
Trade payables are recognized initially at fair value and subsequently measured at amortized cost
using the effective interest method.
24
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
p. Borrowings
Borrowings are recognized initially at fair value, net of transaction costs incurred. Borrowings are
subsequently carried at amortized cost; any difference between the proceeds (net of transaction
costs) and the redemption value is recognized in the consolidated statements of profit or loss and
other comprehensive income over the period of the borrowings using the effective interest method.
Fees paid on obtaining loan facilities are recognized as transaction costs of the loan to the extent
that it is probable that some or all of the facilities will be drawn down. In this case, the fee is deferred
until the drawdown occurs. To the extent there is no evidence that it is probable that some or all of
the facilities will be drawn down, the fee is capitalized as a prepayment for liquidity services and
amortized over the period of the facilities to which it relates.
q. Foreign currency translations
The functional currency and the reporting currency of the Group are both in Indonesian rupiah,
except for the functional currency of Telekomunikasi Indonesia International Ltd., Hong Kong,
Telekomunikasi
Indonesia
International Inc., USA and Telekomunikasi Indonesia International S.A., Timor Leste whose
functional currency is maintained in U.S. Dollar and Telekomunikasi Indonesia International, Pty.
Ltd., Australia whose functional currency is Australian Dollar, TS Global Network Sdn. Bhd., and
Telekomunikasi Indonesia International Sdn. Bhd. whose functional currency is Malaysian ringgit.
International Pte. Ltd., Singapore, Telekomunikasi
Indonesia
Transactions in foreign currencies are translated into Indonesian rupiah at the rates of exchange
prevailing at transaction date. At the consolidated statements of financial position dates, monetary
assets and liabilities denominated in foreign currencies are translated into Indonesian rupiah based
on the buy and sell rates quoted by Reuters prevailing at the consolidated statements of financial
position dates, as follows (in full amount):
United States Dollar (“US$”) 1
Australian Dollar (“AU$”) 1
Singapore Dollar (“SGD”) 1
New Taiwan Dollar (“TWD”) 1
Euro (“EUR”) 1
Japanese Yen ("JPY") 1
Malaysian Ringgit ("MYR") 1
Hong Kong Dollar (“HKD”) 1
2022
2021
Buy
Sell
Buy
Sell
15,567
10,583
11,614
508.15
16,623
118.12
3,529
1,996
15,571
10,589
11,622
508.47
16,635
118.17
3,539
1,997
14,250
10,353
10,555
515.04
16,125
123.81
3,420
1,828
14,255
10,359
10,561
515.40
16,137
123.86
3,424
1,828
The result of foreign exchange gains or losses, realized and unrealized, are credited or charged to
the consolidated statements of profit or loss and other comprehensive income of the current year,
except for foreign exchange differences incurred on borrowings during the construction of qualifying
assets which are capitalized to the extent that the borrowings can be attributed to the construction
of those qualifying assets (Note 2l).
25
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
r. Revenue and expense recognition
Revenue from contract with customers
PSAK 72 establishes a comprehensive framework to determine how, when, and how much revenue
is to be recognized. The standard provides a single principles-based five-step model for the
determination and recognition of revenue to be applied to all contracts with customers. The
standard also provides specific guidance requiring certain types of costs to obtain and/or fulfil a
contract to be capitalized and amortized on a systematic basis that is consistent with the transfer
to the customer of the goods or services to which the capitalized cost relates.
Below is the summary of the Group’s revenue recognition accounting policy for each revenue
stream:
i. Mobile
Revenue from mobile primarily comprises of revenue from cellular service which among others:
telephone service, interconnection service, internet and data service and Short Messaging
Services (“SMS”) service. Those services are offered on postpaid or prepaid basis.
For prepaid services, initial package sales (also known as SIM cards and initial charging
vouchers) and top up vouchers are initially recognized as contract liabilities. The Group
recognizes contract assets for the services from postpaid customers that have not been billed.
All mobile services revenues are recognized based on output method, either per actual usage
or allowance unit used (if services sold in plan basis), because the customer simultaneously
receives and consumes the benefits provided by the Group.
For services sold in bundled plan, total consideration is allocated to performance obligations
based on stand-alone selling price for each of product and/or service. The Group estimates the
stand-alone selling price using the price enacted if the services are sold on a stand-alone basis.
Most bundled plans sold by the Group only include services which are generally satisfied over
the same period of time. Therefore, the revenue recognition pattern is generally not impacted
by the allocation.
The consideration that is received is allocated between the telecommunication services sold
and the points issued, with the consideration allocated to the points that are equal to its fair
value. The fair value of points issued is deferred and recognized as revenue when the points
are redeemed, expired, or when the program is terminated.
ii. Consumer
Revenue from consumer primarily comprises of revenue from fixed telephone and Indihome
services. Revenues from fixed telephone service are derived from customer who subscribes to
fixed telephone service only, while revenues from Indihome service are derived from customer
who subscribes to internet services or to bundled package with combination of consumer
service (i.e. telephone, internet and data, and paid TV). Those services are offered on a
postpaid basis and billed in the following month. In 2021, the Group has applied a new term
and condition that the contract with customer is an open-ended contract with minimum
12-month contract and substantive early termination penalty. The contract duration under
PSAK 72 is 12-month contract and can be renewed in monthly contract basis afterward.
All consumer services are recognized using the output method based on the customer's actual
usage or time elapsed basis as the customer simultaneously receives and consumes the
benefits provided by the Group.
26
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
r. Revenue and expense recognition (continued)
Revenue from contract with customers (continued)
ii. Consumer (continued)
Customers may be required to pay an upfront fee at the commencement of the contract. The
upfront fee is considered to be a material right because the customer is not required to pay an
upfront fee when the customer renews the service beyond the original contract period. The
Group values the renewal option in the amount of the consideration received from the upfront
fee for the installation service. The Group defers the amount of renewal option as contract
liabilities and recognizes it as revenue on a straight-line basis over the expected term of the
customer relationships. The Group estimates the expected customer life based on the historical
information and customer trends and updates the evaluation on an annual basis.
iii. Enterprise
Revenue from enterprise customers primarily comprises of revenue from providing telephone
service, internet and data, information technologies, and other services (e.g. manage service,
call center service, e-health, e-payment, and others). Some of the contracts with enterprise
customers are bespoke in nature.
Revenues from enterprise customers are recognized overtime using output method based on
actual usage or time elapsed if the provision of service does not depend on usage (i.e. minute
of voice, kilobyte of data, etc.), except for sales of goods which are recognized at a point in
time, because the customer simultaneously receives and consumes the benefits provided by
the Group. Revenues for performance obligations that are satisfied at a point in time is
recognized when control of goods is transferred to the customer, typically when the customer
has physical possession of the goods.
Some of the arrangements in enterprise customers are offered as bundled arrangements. For
bundled arrangements, the product and/or service in the contract is accounted for as a single
performance obligation when it is separately identifiable from other promises in the contract
and the customer can benefit from the product/service on its own. The total consideration is
allocated to each distinct performance obligation that has been included in the contract, based
on its stand-alone selling price. The stand-alone selling price is determined according to the
observable prices at which individual product and/or service are sold separately, adjusted for
market conditions and normal discounts as appropriate. Alternatively, when the observable
prices are not available, the expected cost-plus margin approach is used to determine the
stand-alone selling prices.
Certain contracts with enterprise customers may give rise to variable consideration as the
contract price depends on a future event (e.g. usage based contract or revenue-share based
contract). In estimating the variable consideration, the Group is required to use either the
expected value method or the most likely amount method based on the method that better
predicts the amount of consideration to which it will be entitled. The Group determines that the
most expected value method is the appropriate method to use in estimating the variable
consideration for a single contract with a large number of possible outcomes.
Before including any amount of variable consideration in the transaction price, the Group
considers whether the amount of variable consideration is constrained. The Group determines
that the estimates of variable consideration are not constrained based on its historical
experience, business forecast, and the current economic conditions and only includes variable
consideration to the extent that it is highly probable that a significant reversal in the amount of
cumulative revenue recognized will not occur when the uncertainty associated with the variable
consideration is subsequently resolved.
27
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
r. Revenue and expense recognition (continued)
Revenue from contract with customers (continued)
iii. Enterprise (continued)
When another party is involved in providing products and/or services to a customer, the Group
is the principal if it controls the specified products and/or services before those products and/or
services are transferred to the customer. Revenues are recorded on the net amount that has
been retained (the amount paid by the customer less the amount paid to the suppliers), when,
in substance, the Group has acted as agent and earned commission from the suppliers of the
products and/or services sold.
iv. Wholesale and International Business (“WIB”)
Revenue from WIB is mainly comprises of interconnections service for interconnection of other
telecommunications carriers’ subscriber calls to the Group’s subscribers (incoming call) and
calls between other telecommunications carriers subscribers through the Group’s network
(transit) and network service with other telecommunications carriers. All of these services are
recognized based on output method using the basis of the actual recorded traffic for the month.
Contract assets
A contract asset is initially recognized for revenue earned from delivery of goods or services
because the receipt of consideration is conditional on certain milestones or upon completion of the
project. Upon completion of the milestones or the project, the amount recognized as contract assets
is reclassified to trade receivables.
Contract assets are subject to impairment assessment.
Contract liabilities
A contract liability is recognized if a payment is received or a payment is due (whichever is earlier)
from a customer before the Group transfers the related goods or services. Contract liabilities are
recognized as revenue when the Group performs under the contract (i.e., transfers control of the
related goods or services to the customer).
Incremental cost of obtaining/fulfilling contract with customers
The incremental costs of obtaining/fulfilling contracts with customers, which principally are
comprised of sales commissions and contract fulfilment costs, are initially recognized on the
consolidated statements of financial position as contract costs. These costs are subsequently
amortized on a systematic basis that is consistent with the period and pattern of transfer to the
customer of the related products or services. Costs that do not qualify as costs of obtaining/fulfilling
contract with customers are expensed as incurred or in accordance with other relevant standards.
At the end of each reporting year, the Group evaluates whether there is an indication that
capitalized contract costs may be impaired. An impairment exists when the carrying amount of the
contract costs exceeds the amount expected to be received in exchange for goods and services.
When impairment exists, an impairment loss is recognized in profit or loss.
28
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
r. Revenue and expense recognition (continued)
Revenue from lessor transactions
Revenue from lessor transactions comprises of revenue from telecommunication tower operating
leases and other rental. Rental income is recognized on a straight-line basis over the lease term
and is included in revenue in the statement of profit or loss due to its operating nature.
Expenses
Expenses are recognized as they are incurred.
s. Employee benefits
i. Short-term employee benefits
All short-term employee benefits which consist of salaries and related benefits, vacation pay,
incentives and other short-term benefits are recognized as expense on undiscounted basis
when employees have rendered service to the Group.
ii. Post-employment benefit plans and other long-term employee benefits
Post-employment benefit plans consist of funded and unfunded defined benefit pension plans,
defined contribution pension plan, other post-employment benefits, post-employment health
care benefit plan, defined contribution health care benefit plan and obligations under the Labor
Law.
Other long-term employee benefits consist of Long Service Awards (“LSA”), Long Service Leave
(“LSL”), and pre-retirement benefits.
The cost of providing benefits under post-employment benefit plans and other long-term
employee benefits calculation is performed by an independent actuary using the projected unit
credit method.
The net obligations in respect of the defined pension benefit plans and post-retirement health
care benefit plans are calculated at the present value of estimated future benefits that the
employees have earned in return for their service in the current and prior periods less the fair
value of plan assets. The present value of the defined benefit obligation is determined by
discounting the estimated future cash outflows using interest rates of Government bonds that
are denominated in the currencies in which the benefits will be paid and that have terms to
maturity approximating the terms of the related retirement benefit obligation. Government bonds
are used as there are no deep markets for high quality corporate bonds.
Plan assets are assets owned by defined benefit pension plan and post-retirement health care
benefits plan as well as qualifying insurance policy. The assets are measured at fair value as of
reporting dates. The fair value of qualifying insurance policy is deemed to be the present value
of the related obligations (subject to any reduction required if the amounts receivable under the
insurance policies are not recoverable in full).
Remeasurement, comprising of actuarial gain and losses, the effect of the asset ceiling
(excluding amounts included in net interest on the net defined benefit liability (asset)) and the
return on plan assets (excluding amounts included in net interest on the net defined benefit
liability (asset)) are recognized immediately in the consolidated statements of financial position
with a corresponding debit or credit to retained earnings through OCI in the period in which they
occur. Remeasurements are not reclassified to profit or loss in subsequent periods.
Past service costs are recognized immediately in profit or loss on the earlier of:
(a) the date of plan amendment or curtailment; and
(b) the date that the Group recognized restructuring-related costs.
29
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
s. Employee benefits (continued)
ii. Post-employment benefit plans and other long-term employee benefits (continued)
Net interest is calculated by applying the discount rate to the net defined benefit liabilities or
assets.
Gains or losses on curtailment are recognized when there is a commitment to make a material
reduction in the number of employees covered by a plan or when there is an amendment of
defined benefit plan terms such as that a material element of future services to be provided by
current employees will no longer qualify for benefits, or will qualify only for reduced benefits.
Gains or losses on settlement are recognized when there is a transaction that eliminates all
further legal or constructive obligation for part or all of the benefits provided under a defined
benefit plan (other than the payment of benefit in accordance with the program and included in
the actuarial assumptions).
For defined contribution plans, the regular contributions constitute net periodic costs for the
period in which they are due and, as such, are included in “personnel expenses” as they become
payable.
In April 2022, the Institute of Indonesia Chartered Accountants’ Accounting Standard Board
issued a press release regarding attribution of benefits to periods of service in accordance with
PSAK 24: Imbalan Kerja which was adopted from IAS 19 Employee Benefits. The press release
conveyed the information that the fact pattern of the pension program based on the Labor Law
currently enacted in Indonesia is similar to those responded and concluded in the IFRS
Interpretation Committee (“IFRIC”) Agenda Decision Attributing Benefit to Periods of Service
IAS 19. The Group has adopted the said press release and accordingly changed its accounting
policy regarding attribution of benefits to periods of service previously applied.
In prior years, the Group attributed benefits under the defined benefit plan’s benefit formula to
periods of service from the date when employees provide their services until their retirement
age. The Group changed the policy for attributing benefits under the plan to the date when
employee service first leads to benefits under the plan until the date when further employee
service will lead to no material amount of further benefits under the plan.
iii. Share-based payments
The Company operates an equity-settled share-based compensation plan. The fair value of the
employee’s services rendered which are compensated with the Company’s shares is
recognized as an expense in the consolidated statements of profit or loss and other
comprehensive income and credited to additional paid-in capital at the grant date.
iv. Early retirement benefits
Early retirement benefits are accrued at the time the Group makes a commitment to provide
early retirement benefits as a result of an offer made in order to encourage voluntary
redundancy. A commitment to a termination arises when, and only when a detailed formal plan
for the early retirement cannot be withdrawn.
30
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
t. Taxes
Income tax
Current and deferred income taxes are recognized as income or an expense and included in the
consolidated statements of profit or loss and other comprehensive income, except to the extent
that the income tax arises from a transaction or event which is recognized directly in equity, in
which case, the income tax is recognized directly in equity.
Current income tax assets and liabilities are measured at the amounts expected to be recovered
or paid by using the tax rates and tax laws that have been enacted or substantively enacted at
each reporting date. Management periodically evaluates positions taken in Annual Tax Returns
("Surat Pemberitahuan Tahunan"/"SPT Tahunan") with respect to situations in which applicable tax
regulation is subject to interpretation. Where appropriate, management establishes provisions
based on the amounts expected to be paid to the Tax Authorities.
Tax assessment
Amendment to taxation obligation is recorded when an assessment letter (“Surat Ketetapan Pajak”
or “SKP”) is received or, if appealed against, when the results of the appeal have been determined.
The additional taxes and penalty imposed through an SKP are recognized as revenue or expense
in the current year profit or loss, unless objection/appeal is taken. The additional taxes and penalty
imposed through the SKP are deferred as long as they meet the asset recognition criteria.
Deferred tax
The Group recognizes deferred tax assets and liabilities for temporary differences between the
financial and tax bases of assets and liabilities at each reporting date. The Group also recognizes
deferred tax assets resulting from the recognition of future tax benefits, such as the benefit of tax
losses carried forward to the extent their future realization is probable. Deferred tax assets and
liabilities are measured using enacted or substantively enacted tax rates and tax laws at each
reporting date which are expected to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled.
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced if it is
no longer probable that sufficient taxable profit will be available to compensate part or all of the
benefits of deferred tax assets. Unrecognized deferred tax assets are re-assessed at each
reporting date and recognized if it is probable that future taxable profits will be available for
recovery. Tax deductions arising from the reversal of deferred tax assets are excluded from
estimates of future taxable income.
Deferred tax transactions which are recognized outside profit or loss. Therefore, deferred taxes on
these transactions are recognized either in other comprehensive income or recognized directly in
equity.
Deferred tax assets and liabilities are offset in the consolidated statements of financial position, if
and only if it has a legally enforceable right to set off current tax assets and liabilities and the
deferred tax assets and liabilities relate to income taxes levied by the same Tax Authority on either
the same taxable entity or different taxable entities which intend either to settle current tax liabilities
and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each
future period in which significant amounts of deferred tax assets or liabilities are expected to be
recovered or settled.
31
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
t. Taxes (continued)
Value Added Tax (“VAT”)
Revenues, expenses and assets are recognized net of the VAT amount except:
i. VAT arising from the purchase of assets or services that cannot be credited by the Tax Office,
which VAT is recognized as part of the acquisition cost of the asset or as part of the applied
expenses; and
ii. Receivables and payables are presented including the amount of VAT.
Uncertainty over income tax
ISAK 34: Uncertainty Over Income Tax Treatments stated that the recognition and measurement
of tax assets and liabilities that contain uncertainty over income tax are determined by considering
whether to be treated separately or together, the assumptions used in the examination of tax
treatments by the Tax Authorities, consideration the probability that the Tax Authorities will accept
uncertain tax treatment and re-consideration or estimation if there is a change in facts and
circumstances.
If the acceptance of the tax treatment by the Tax Authorities is probable, the measurement is in
line with income tax fillings. If the acceptance of the tax treatment by the Tax Authorities is not
probable, the Group measures its tax balances using the method that provides the better predict
of resolution (i.e. most likely amount or expected value).
Final tax
Indonesian tax regulations impose final tax on several types of transactions based on the gross
value of the transaction. Therefore, final tax which is charged based on such transaction remains
subject to tax even though the tax payer incurred a loss on the transaction.
Final tax on construction services and lease are presented as part of “Other income - net”.
u. Financial instruments
The Group classifies financial instruments into financial assets and financial liabilities. A financial
instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
i. Financial assets
Initial recognition and measurement
Financial assets are classified, at initial recognition, and subsequently measured at amortized
cost, fair value through OCI (“FVTOCI”), and fair value through profit or loss (“FVTPL”).
The classification of financial assets at initial recognition depends on the financial asset’s
contractual cash flow characteristics and the Group’s business model for managing them. With
the exception of trade receivables that do not contain a significant financing component of for
which the Group has applied the practical expedient, the Group initially measures a financial
asset at its fair value plus, in the case of a financial asset not at FVTPL, transactions costs.
Trade receivables that do not contain a significant financing component or which the Group
has applied the practical expedient are measured at the transaction price in determined under
PSAK 72.
32
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
u. Financial instruments (continued)
i. Financial assets (continued)
In order for a financial asset to be classified and measured at amortized cost or FVTOCI, it
needs to give rise to cash flows that are solely payments of principal and interest on the
principal amount outstanding. This assessment is referred to as the solely payments of
principal and interest (“SPPI”) test and is performed at instrument level.
The Group’s business model for managing financial assets refers to how it manages its
financial assets in order to generate cash flows. The business model determines whether cash
flows will result from collecting contractual cash flows, selling the financial assets, or both.
Purchases or sales of financial assets that require delivery of assets within a time frame
established by regulation or convention in the marketplace (regular way trades) are recognized
on the trade date, i.e., the date that the Group commits to buy or sell the asset.
Subsequent measurement
For purposes of subsequent measurement, financial assets are classified in four categories:
(a) Financial assets at amortized cost (debt instruments)
The Group measures financial assets at amortized cost if both of the following conditions
are met:
• The financial asset is held within a business model with the objective to hold financial
assets in order to collect contractual cash flows; and
• The contractual terms of the financial asset give rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.
Financial assets at amortized cost are subsequently measured using the effective interest
rate (“EIR”) method and are subject to impairment. Gains and losses are recognized in
profit or loss when the asset is derecognized, modified or impaired. The Group’s financial
assets at amortized cost consist of cash and cash equivalents, other current financial
assets, trade and other receivables, and other non-current assets.
(b) Financial assets at FVTOCI with recycling of cumulative gains and losses (debt
instruments)
The Group measures debt instruments at FVTOCI if both of the following conditions are
met:
• The financial asset is held within a business model with the objective of both holding
to collect contractual cash flows and selling; and
• The contractual terms of the financial asset give rise on specified dates to cash flows
that are solely payments of principal and interest on the principal amount outstanding.
For debt instruments at FVTOCI, interest income, foreign exchange revaluation, and
impairment losses or reversals are recognized in the statement of profit or loss and
computed in the same manner as for financial assets measured at amortized cost. The
remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative
fair value change recognized in OCI is recycled to profit or loss.
The Group has no debt instruments classified at FVTOCI with recycling of cumulative
gains and losses as of December 31, 2022 and 2021.
33
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
u. Financial instruments (continued)
i. Financial assets (continued)
Subsequent measurement (continued)
(c) Financial assets designated at FVTOCI with no recycling of cumulative gains and losses
upon derecognition (equity instruments)
Upon initial recognition, the Group can elect to classify irrevocably its equity investments
as equity instruments designated at FVTOCI when they meet the definition of equity under
PSAK 71 and are not held for trading. The classification is determined on an instrument-
by-instrument basis. Gains and losses on these financial assets are never recycled to
profit or loss. Dividends are recognized as other income in the statement of profit or loss
when the right of payment has been established, except when the Group benefits from
such proceeds as a recovery of part of the cost of the financial asset, in which case, such
gains are recorded in OCI. Equity instruments designated at FVTOCI are not subject to
impairment assessment. The Group’s financial assets at this category consists of long-
term investment in financial instruments.
(d) Financial assets at FVTPL
Financial assets at FVTPL include financial assets held for trading, financial assets
designated upon initial recognition at FVTPL, or financial assets mandatorily required to
be measured at fair value. Financial assets are classified as held for trading if they are
acquired for the purpose of selling or repurchasing in the near term. Derivatives, including
separated embedded derivatives, are also classified as held for trading unless they are
designated as effective hedging instruments. Financial assets with cash flows that are not
solely payments of principal and interest (“SPPI”) are classified and measured at FVTPL,
irrespective of the business model. Notwithstanding the criteria for debt instruments to be
classified at amortized cost or at FVTOCI, as described above, debt instruments may be
designated at FVTPL on initial recognition if doing so eliminates, or significantly reduces,
an accounting mismatch.
Financial assets at FVTPL are carried in the statement of financial position at fair value
with net changes in fair value recognized in the statement of profit or loss. The Group’s
financial assets at FVTPL consists of other long-term investment in financial instruments
and other current financial assets.
Expected credit losses (“ECL”)
The Group recognizes an allowance for ECL for all debt instruments not held at FVTPL. ECL
are based on the difference between the contractual cash flows due in accordance with the
contract and all the cash flows that the Group expects to receive, discounted at an
approximation of the original effective interest rate. The expected cash flows will include cash
flows from the sale of collateral held or other credit enhancements that are integral to the
contractual terms.
34
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
u. Financial instruments (continued)
i. Financial assets (continued)
Expected credit losses (“ECL”) (continued)
ECL are recognized in two stages. For credit exposures for which there has not been a
significant increase in credit risk since initial recognition, ECL are provided for credit losses that
result from default events that are possible within the next 12-months (a 12-month ECL). For
those credit exposures for which there has been a significant increase in credit risk since initial
recognition, a loss allowance is required for credit losses expected over the remaining life of
the exposure, irrespective of the timing of the default (a lifetime ECL).
For trade receivables and contract assets, the Group applies a simplified approach in
calculating ECL. Therefore, the Group does not track changes in credit risk, but instead
recognizes a loss allowance based on lifetime ECL at each reporting date. The Group has
established a provision model that is based on its historical credit loss experience, adjusted for
forward-looking factors specific to the debtors and the economic environment.
The Group considers a financial asset in default when contractual payments are 90 days past
due. However, in certain cases, the Group may also consider a financial asset to be in default
when internal or external information indicates that the Group is unlikely to receive the
outstanding contractual amounts in full before taking into account any credit enhancements
held by the Group. Trade receivables are written-off when there is low possibility of recovering
the contractual cash flow, after all collection efforts have been done and have been fully
provided for allowance.
ii. Financial liabilities
Initial recognition and measurement
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through
profit or loss, loans and borrowings, payables or as derivatives designated as hedging
instruments in an effective hedge, as appropriate.
All financial liabilities are recognized initially at fair value and, in the case of loan and borrowings
and payables, net of directly attributable transaction costs.
The Group classifies its financial liabilities as: (a) financial liabilities at FVTPL or (b) financial
liabilities measured at amortized cost.
The Group’s financial liabilities include trade and other payables, accrued expenses, customer
deposits, Interest-bearing loans, and lease liabilities. Interest-bearing loans consist of short-
term bank loans, two-step loans, bonds, long-term bank loans, and other borrowings.
35
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
u. Financial instruments (continued)
ii. Financial liabilities (continued)
Subsequent measurement
The measurement of financial liabilities depends on their classification, as described below:
(a) Financial liabilities at FVTPL
Financial liabilities at FVTPL include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at FVTPL. Financial liabilities are classified
as held for trading if they are incurred for the purpose of repurchasing in the near term.
This category also includes derivative financial instruments entered into by the Group that
are not designated as hedging instruments in hedge relationships. Separated embedded
derivatives are also classified as held for trading unless they are designated as effective
hedging instruments. Gains or losses on liabilities held for trading are recognized in the
statement of profit or loss.
Financial liabilities designated upon initial recognition at FVTPL are designated at the initial
date of recognition, and only if the criteria in PSAK 71 are satisfied. The Group has not
designated any financial liability as at FVTPL.
(b) Financial liabilities measured at amortized cost
This is the category most relevant to the Group. After initial recognition, interest-bearing
loans and other borrowings are subsequently measured at amortized cost using the EIR
method. Gains and losses are recognized in profit or loss when the liabilities are
derecognized as well as through the EIR amortization process. Amortized cost is
calculated by taking into account any discount or premium on acquisition and fees or costs
that are an integral part of the EIR. The EIR amortization is included as finance costs in
the statement of profit or loss. This category generally applies to interest-bearing loans
and other borrowings. For more information, refer to Note 19 Long-Term Loans and Other
Borrowings.
iii. Offsetting financial instruments
Financial assets and liabilities are offset and the net amount is reported in the consolidated
statements of financial position when there is a legally enforceable right to offset the
recognized amounts and there is an intention to settle them on a net basis, or realize the assets
and settle the liabilities simultaneously. The right of offset must not be contingent on a future
event and must be legally enforceable in all of the following circumstances:
(i)
(ii) the event of default; and
(iii) the event of insolvency or bankruptcy of the Group and all of the counterparties.
the normal course of business;
iv. Derecognition of financial instruments
The Group derecognizes a financial asset when the contractual rights to the cash flows from
the financial asset expire, or when the Group transfers substantially all the risks and rewards
of ownership of the financial asset.
The Group derecognizes a financial liability when the obligation specified in the contract is
discharged or cancelled or has expired.
36
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
v. Treasury stock
Reacquired Company’s shares of stock are accounted for at their reacquisition cost and classified
as “Treasury Stock” and presented as a deduction in equity. The cost of treasury stock
sold/transferred is accounted for using the weighted average method. The portion of treasury stock
transferred for employee stock ownership program is accounted for at its fair value at grant date.
Any difference between the carrying amount and consideration from future re-sale of treasury
stocks, is recognized as part of additional paid-in capital in the equity.
w. Dividends
Dividend for distribution to the stockholders is recognized as a liability in the consolidated financial
statements in the year in which the dividend is approved by the stockholders. The interim dividend
is recognized as a liability based on the Board of Directors’ decision supported by the approval
from the Board of Commissioners.
x. Basic and diluted earnings per share and earnings per ADS
Basic earnings per share is computed by dividing profit for the year attributable to owners of the
parent company by the weighted average number of shares outstanding during the year. Income
per ADS is computed by multiplying the basic earnings per share by 100, the number of shares
represented by each ADS.
The Company does not have potentially dilutive financial instruments.
y. Segment information
The Group's segment information is presented based upon identified operating segments. An
operating segment is a component of an entity:
i.
that engages in business activities from which it may earn revenues and incur expenses
(including revenues and expenses relating to transactions with other components of the same
entity);
ii. whose operating results are regularly reviewed by the Group’s Chief Operating Decision Maker
(“CODM”) i.e., the Directors, to make decisions about resources to be allocated to the segment
and assess its performance; and
iii. for which discrete financial information is available.
z. Provisions
Provisions are recognized when the Group has present obligations (legal or constructive) arising
from past events and it is probable that an outflow of resources embodying economic benefits will
be required to settle the obligations and the amount can be measured reliably.
Provisions for onerous contracts are recognized when the contract becomes onerous for the lower
of the cost of fulfilling the contract and any compensation or penalties arising from failure to fulfill
the contract.
aa. Impairment of non-financial assets
At the end of each reporting period, the Group assesses whether there is an indication that an non-
financial assets may be impaired. These assets include property and equipment, current assets,
and other non-current assets, including intangible assets. If such indication exists, the recoverable
amount is estimated for the individual asset. If it is not possible to estimate the recoverable amount
of the individual asset, the Group determines the recoverable amount of the Cash-Generating Unit
(“CGU”) to which the asset belongs (“the asset’s CGU”).
37
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
aa. Impairment of non-financial assets (continued)
The recoverable amount of an asset (either individual asset or CGU) is the higher of the asset’s
fair value less costs to sell and its value in use (“VIU”). Where the carrying amount of the asset
exceeds its recoverable amount, the asset is considered impaired and is written down to its
recoverable amount. In assessing the value in use, the estimated net future cash flows are
discounted to their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset.
In determining fair value less costs to sell, recent market transaction prices are taken into account,
if available. If no such transactions can be identified, the Group uses an appropriate valuation
model to determine the fair value of the asset. These calculations are corroborated by multiple
valuations or other available fair value indicators.
Impairment losses of continuing operations are recognized in the consolidated statements of profit
or loss and other comprehensive income.
At the end of each reporting period, the Group assesses whether there is any indication that
previously recognized impairment losses for an asset, other than goodwill, may no longer exist or
may have decreased. If such indication exists, the recoverable amount is estimated. A previously
recognized impairment loss for an asset, other than goodwill, is reversed only if there has been a
change in the assumptions used to determine the asset’s recoverable amount since the last
impairment loss was recognized. The reversal is limited such that the carrying amount of the asset
does not exceed its recoverable amount, nor exceeds the carrying amount that would have been
determined, net of depreciation, had no impairment been recognized for the asset in prior periods.
Reversal of an impairment loss is recognized in the consolidated statement of profit or loss and
other comprehensive income.
Goodwill is tested for impairment annually and when circumstances indicate that the carrying value
may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of
each CGU (or group of CGUs) to which the goodwill relates. When the recoverable amount of the
CGU is less than its carrying amount, an impairment loss is recognized. Impairment loss relating
to goodwill can not be reversed in future periods.
ab. Current and non-current classifications
The Group presents assets and liabilities in the statement of financial position based on current
and non-current classification. An asset is presented as current when it is:
i. expected to be realized or intended to be sold, or consumed in the normal operating cycle;
ii. held primarily for the purpose of trading; or
iii. expected to be realized within twelve months after the reporting period; or
iv. cash or cash equivalent unless restricted from being exchanged or used to settle a liability for
at least twelve months after the reporting period.
Assets which do not meet above criteria are classified as non-current assets.
A liability is presented as current when:
i.
ii.
iii.
iv. there is no unconditional right to defer the settlement of the liability for at least twelve months
it is expected to be settled in the normal operating cycle;
it is held primarily for the purpose of trading;
it is due to be settled within twelve months after reporting period; or
after the reporting period.
The terms of liability that could, at the option of counterparty, result in its settlement by the issue of
equity instruments do not affect its classification.
Liabilities which do not meet above criteria are classified as long-term liabilities.
Deffered tax assets and liabilities are classified as non-current assets and liabilities.
38
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
ac. Significant accounting judgements, estimates and assumptions
The preparation of the Group's consolidated financial statements requires management to make
judgements, estimates, and assumptions that affect the reporting amounts of revenue, expenses,
assets and liabilities, and the accompanying disclosures, and disclosures of contingent liabilities,
at the end of the reporting period.
Uncertainty about these assumptions and estimates can produce results that require a material
adjustment to the carrying amounts of assets and liabilities affected in the coming periods.
i. Judgements
The following judgements were made by management in applying the Group's accounting
policies that have the most significant influence on the amounts recognized in the consolidated
financial statements:
Income taxes
Uncertainties exist with respect to the interpretation of complex tax regulations, changes in tax
laws, and the amount and timing of future taxable income could necessitate future adjustments
to tax income and expense already recorded. Judgment is also involved in determining the
provision for corporate income tax. There are certain transactions and computation for which
the ultimate tax determination is uncertain during the ordinary course of business.
The Group recognizes liabilities for anticipated tax audit issues based on estimates of whether
additional taxes will be due. Where the final tax outcome of these matters is different from the
amounts that were initially recorded, such differences will impact the current and deferred
income tax assets and liabilities in the year in which such determination is made.
ii. Estimates and assumptions
Estimates and assumption are continually evaluated and are based on historical experience and
other factors, including expectations of future events that are believed to be reasonable under
the circumstances.
The Group makes estimates and assumptions concerning the future. The resulting accounting
estimates will, by definition, seldom equal the related actual results. The estimates and
assumptions at the reporting date that have a significant risk of causing a material adjustment
to the carrying amounts of assets and liabilities within the next financial year are addressed
below.
(a) Retirement benefits
The present value of the retirement benefit obligations depends on a number of factors that
are determined on an actuarial basis using a number of assumptions. The assumptions
used in determining the net cost (income) for pensions include the discount rate and return
on investment (“ROI”). Any changes in these assumptions will impact the carrying amount
of the retirement benefit obligations.
The Group determines the appropriate discount rate at the end of each reporting period.
This is the interest rate that should be used to determine the present value of estimated
future cash outflows expected to be required to settle the obligations. In determining the
appropriate discount rate, the Group considers the interest rates of Government bonds that
are denominated in the currency in which the benefits will be paid and that have terms to
maturity approximating the terms of the related retirement benefit obligations.
If there is an improvement in the ratings of such Government bonds or a decrease in
interest rates as a result of improving economic conditions, there could be a material impact
on the discount rate used in determining the post-employment benefit obligations.
Other key assumptions for retirement benefit obligations are based in part on current
market conditions. Additional information is disclosed in Notes 30 and 31.
39
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
ac. Significant accounting judgements, estimates and assumptions (continued)
ii. Estimates and assumptions (continued)
(b) Useful lives of property and equipment
The Group estimates the useful lives of its property and equipment based on expected
asset utilization, considering strategic business plans, expected future technological
developments and market behavior. The estimates of useful lives of property and
equipment are based on the Group’s collective assessment of industry practice, internal
technical evaluation, and experience with similar assets.
The Group reviews its estimates of useful lives at least each financial year-end and such
estimates are updated if expectations differ from previous estimates due to changes in
expectation of physical wear and tear, technical or commercial obsolescence, and legal or
other limitations on the continuing use of the assets. The amounts of recorded expenses
for any year will be affected by changes in these factors and circumstances. A change in
the estimated useful lives of the property and equipment is a change in accounting
estimates and is applied prospectively in profit or loss in the period of the change and future
periods.
In 2021, the Company accelerated the useful lives of Multi-Service Access Node (“MSAN”)
assets until 2022. In 2022, the Group changed the estimated useful lives of towers in
Indonesia (Note 11).
Details of the nature and carrying amounts of property and equipment are disclosed in Note
11.
(c) Determining the lease term of contracts with renewal and termination options - Group as
lessee
The Group determines the lease term as the non-cancellable term of the lease, together
with any periods covered by an option to extend the lease if it is reasonably certain to be
exercised, or any periods covered by an option to terminate the lease, if it is reasonably
certain not to be exercised.
The Group has several lease contracts that include extension and termination options. The
Group applies judgement in evaluating whether it is reasonably certain whether or not to
exercise the option to renew or terminate the lease. That is, it considers all relevant factors
that create an economic incentive for it to exercise either the renewal or termination. After
the commencement date, the Group reassesses the lease term if there is a significant event
or change in circumstances that is within its control and affects its ability to exercise or not
to exercise the option to renew or to terminate.
(d) Allowance for expected credit losses for financial assets
For trade receivables and contract assets, the Group applies a simplified approach in
calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead
recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has
established an allowance for expected credit losses methodology that is based on its
historical credit loss experience, adjusted for forward-looking factors specific to the debtors,
and the economic environment.
For term deposits and debt instruments at FVTOCI, the Group applies the low credit risk
simplification. At every reporting date, the Group evaluates whether the deposits or debt
instrument are considered to have low credit risk using all reasonable and supportable
information that is available without undue cost or effort. In making that evaluation, the
Group reassesses the internal credit rating of the debt instrument. In addition, the Group
considers that there has been a significant increase in credit risk when contractual
payments are more than 30 days past due.
40
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
ac. Significant accounting judgements, estimates and assumptions (continued)
ii. Estimates and assumptions (continued)
(d) Allowance for expected credit losses for financial assets (continued)
The Group assesses whether there is objective evidence that other receivables or other
financial assets have been impaired at the end of each reporting period. Allowance for
expected credit losses of receivables is calculated based on a review of the current status
of existing receivables and historical collection experience. Such allowances are adjusted
periodically to reflect the actual and anticipated experience. Details of the nature and
carrying amounts of allowance for expected credit losses of receivables are disclosed in
Note 5.
The Group also closely monitors the changes in shared risk characteristics of certain
account receivables by evaluating the customer segmentations portfolios which the
respective customers might engage in business industries, or locate in areas, which have
become affected, or are more prone to be affected, by the pandemic. The Group has
reassessed the model used to calculate ECLs based on the latest reasonable and
supportable data to better reflect the current change in circumstances. Methods and
approaches will continue to be monitored and updated if additional reasonable and
supportable data and information are available; including forward-looking information and
other input in the future.
(e) Revenue
(i) Critical judgements in determining the performance obligation, timing of revenue
recognition and revenue classification
The Group provides information technology services that are bespoke in nature.
Bespoke products consist of various goods and/or services bundled together in order
to provide integrated solution services to customers. In addition to the bespoke
service, Group also provide multiple standard product as bundling product in contract
with customer. Significant judgment is required in determining the number and nature
of performance obligations promised to customers in those contracts. The number and
nature of performance obligations will determine the timing of revenue recognition for
such contract.
The Group reviews the determination of performance obligations on a contract-by-
contract basis. When a contract consisting of several goods and/or service is
assessed to have one performance obligation, the Group applies a single method of
measuring progress for the performance obligation based on the measurement
method that best depicts the economics of the contract, which in most cases is over
time.
The Group also presents the revenue classification using consistent approach.
When a contract consisting of several goods and/or service is assessed to have one
performance obligation, the Group presents that performance obligations in one
financial statement line items which best represent the main service of the Group,
which in most cases is the internet, data and information technology services.
(ii) Critical judgements in determining the stand-alone selling price
The Group provides wide array of products related to telecommunication and
technology. To determine the stand-alone selling price for goods and/or services that
do not have any readily available observable price, the Group uses the expected cost-
plus margin approach. The Group determines the appropriate margin based on
historical achievement.
41
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
ac. Significant accounting judgements, estimates and assumptions (continued)
ii. Estimates and assumptions (continued)
(f) Test for impairment of non-current assets and goodwill
The application of the acquisition method in a business combination requires the use of
accounting estimates in allocating the purchase price to the fair market value of the assets
and liabilities acquired, including intangible assets. Certain business acquisitions by the
Group resulted goodwill, which is not amortized but is tested for impairment annually and
every indication of impairment exists.
The calculation of future cash flows in determining the fair value of property and equipment
and other non-current assets of the acquired entity at the acquisition date involves
significant estimation. Although management believes that the assumptions used are
appropriate, significant changes to those assumptions can materially affect the evaluation
of recoverable amounts and may result in impairment according to PSAK 48: Impairment
of Assets.
(g) Fair value measurement of financial instruments
When the fair values of financial assets and financial liabilities recorded in the statement of
financial position cannot be measured based on quoted prices in active markets, their fair
value is measured using valuation techniques including the discounted cash flow (“DCF”)
model. The inputs to these models are taken from observable markets where possible, but
where this is not feasible, a degree of judgement is required in establishing fair values.
Judgements include considerations of inputs such as liquidity risk, credit risk and volatility.
Changes in assumptions relating to these factors could affect the reported fair value of
financial instruments
(h) Acquisition
The Group evaluates each acquisition transaction to determine whether it will be treated
as an asset acquisition or business combination. For transactions that are treated as an
asset acquisition, the purchase price is allocated to the assets obtained, without the
recognition of goodwill. For acquisitions that meet the business combination definition,
the Group applies the accounting for business acquisiton method for assets acquired and
liabilities assumed which are recorded at fair value at the acquisition date, and the results
of operations are included with the Group's results from the date of each acquisition.
Any excess from the purchase price paid for the amount recognized for assets acquired
and liabilities incurred is recorded as goodwill. The Group continues to evaluate
acquisitions that are counted as a business combination for a period not exceeding one
year after the applicable acquisition date of each transaction to determine whether
additional adjustments are needed to allocate the purchase price paid for the assets
acquired and liabilities assumed. The fair value of assets acquired and liabilities incurred
are usually determined using either an estimated replacement cost or a discounted cash
flow valuation method. When determining the fair value of tangible assets acquired, the
Group estimates the cost of replacing assets with new assets by considering factors such
as the age, condition, and economic useful lives of the assets. When determining the fair
value of the intangible assets obtained, the Group estimates the applicable discount rate
and the time and amount of future cash flows, including the rates and terms for the
extension and reduction.
42
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
3. CASH AND CASH EQUIVALENTS - NET
2022
Balance
2021
Balance
Cash on hand
Cash in bank
Related parties
PT Bank Mandiri (Persero) Tbk. (“Bank Mandiri”)
Currency
Rp
PT Bank Negara Indonesia (Persero) Tbk. (“BNI”)
PT Bank Rakyat Indonesia (Persero) Tbk. (“BRI”)
PT Bank Tabungan Negara (Persero) Tbk. ("BTN")
PT Bank Syariah Indonesia Tbk. (“BSI”)
Others (each below Rp100 billion)
Sub-total
Third parties
PT Bank CIMB Niaga Tbk. (”Bank CIMB Niaga”)
The Hongkong and Shanghai Banking Corporation
Ltd. ("HSBC Hongkong")
PT Bank Permata Tbk. (“Bank Permata”)
Standard Chartered Bank (“SCB”)
JPMorgan Chase & Co.
Others (each below Rp100 billion)
Sub-total
Total of cash in banks
Time deposits
Related parties
BTN
Bank Mandiri
BSI
BRI
BNI
Sub-total
Currency
(in million)
-
-
49
2
6
3
0
-
7
0
0
-
11
-
-
-
0
-
-
0
55
5
-
16
5
9
-
8
58
5
2
386
2
0
-
-
31
-
-
21
-
9
Rupiah
equivalent
11
Currency
(in million)
-
Rupiah
equivalent
12
6,413
758
34
1
5
0
4,298
111
0
0
2,691
179
2,713
-
229
0
1
17,433
1,379
5
861
10
412
245
53
140
405
130
29
17
23
3
29
0
3,741
-
32
2
1
3
0
-
2
0
0
-
0
-
0
-
-
-
-
5
44
23
-
21
8
7
-
6
46
6
0
-
2
0
8,660
459
30
0
5
0
2,859
34
0
0
6,035
6
1,368
0
37
-
-
19,493
570
74
628
42
2,326
300
83
96
541
90
24
19
5
-
19
0
4,817
21,174
24,310
1,655
844
489
1,220
845
319
378
145
5,895
-
-
31
-
-
47
-
43
580
604
441
210
544
675
6,739
610
10,403
Rp
US$
EUR
JPY
HKD
AU$
Rp
US$
SGD
EUR
Rp
US$
Rp
US$
Rp
US$
Rp
Rp
US$
US$
HKD
Rp
US$
SGD
US$
Rp
US$
TWD
MYR
AU$
MMK
SGD
EUR
Rp
Rp
US$
Rp
Rp
US$
Rp
US$
43
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
3. CASH AND CASH EQUIVALENTS - NET (continued)
2022
Balance
2021
Balance
Currency
Currency
(in million)
Rupiah
equivalent
Currency
(in million)
Rupiah
equivalent
Time deposits (continued)
Third parties
PT Bank Mega Tbk. (“Bank Mega”)
PT Bank Pembangunan Daerah Jawa Barat dan
Banten Tbk. (“BJB”)
PT Bank Maybank Indonesia Tbk. ("Maybank")
Bank CIMB Niaga
PT Bank Muamalat Indonesia Tbk.
PT Bank Danamon Indonesia Tbk.
(“Bank Danamon”)
Others (each below Rp100 billion)
Sub-total
Total of time deposits
Allowance for credit expectation losses
Total
Rp
US$
Rp
US$
Rp
US$
MYR
Rp
US$
Rp
Rp
US$
Rp
-
12
-
-
-
14
2
-
11
-
-
9
-
1,986
181
1,423
-
220
224
6
122
168
295
40
133
70
4,868
10,763
(1)
31,947
-
17
-
11
-
8
2
-
-
-
-
-
-
1,689
235
910
153
197
107
7
0
-
-
0
-
289
3,587
13,990
(1)
38,311
Interest rates per annum on time deposits are as follows:
Rupiah
Foreign currency
2022
1.95% - 6.50%
0.25% - 4.05%
2021
1.25% - 7.75%
0.20% - 1.75%
The Group placed the majority of its cash and cash equivalents in state-owned (related party) banks
because they have the most extensive branch networks in Indonesia and are considered to be
financially sound banks, as they are owned by the State.
44
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
4. OTHER CURRENT FINANCIAL ASSETS
Time deposit
Related parties
BSI
Bank Mandiri
Others (each below Rp100 billion)
Third parties
PT Bank UOB Indonesia (“UOB”)
SCB
Others (each below Rp100 billion)
Total time deposits
Escrow accounts
Total escrow accounts
Mutual funds
Related parties
Others (each below Rp100 billion)
Third parties
PT Henan Putihrai Asset Management
(“HPAM”)
Total mutual funds
Others (each below Rp100 billion)
Total others
Allowance for expected credit losses
Total
2022
Balance
2021
Balance
Foreign
currency
(in millions)
Rupiah
equivalent
Foreign
currency
(in millions)
Rupiah
equivalent
Currency
Rp
Rp
US$
Rp
US$
US$
Rp
US$
Rp
US$
Rp
Rp
Rp
US$
-
-
5
-
100
10
79
130
- -
160
-
71
5
20
-
12
7
-
2
-
2
-
-
-
0
0
182
102
18
32
653
383
30
413
81
200
281
0
2
0
2
(0)
1,349
3
-
-
2
-
1
-
-
-
-
-
-
44
-
18
29
342
43
21
64
78
-
78
9
-
-
9
(0)
493
The time deposits have maturities of more than three months but not more than one year, with interest
rates as follows:
Rupiah
Foreign currency
2022
2021
2.50% - 5.00%
1.95% - 5.06%
2.50% - 3.75%
0.06% - 0.50%
45
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
5. TRADE RECEIVABLES - NET
Trade receivables arise from services provided to both retail and non-retail customers, with details as
follows:
a. By debtor
(i) Related parties
State-owned enterprises
PT Indonusa Telemedia ("Indonusa")
PT Indosat Tbk. (“Indosat”)
Others (each below Rp100 billion)
Total
Allowance for expected credit losses
Net
(ii) Third parties
Individual and business subscribers
Overseas international carriers
Total
Allowance for expected credit losses
Net
b. By age
(i) Related parties
Up to 3 months
3 to 6 months
More than 6 months
Total
Allowance for expected credit losses
Net
(ii) Third parties
Up to 3 months
3 to 6 months
More than 6 months
Total
Allowance for expected credit losses
Net
46
2022
2021
1,985
385
175
156
2,701
(1,081)
1,620
2022
2021
12,517
984
13,501
(6,487)
7,014
1,336
439
148
176
2,099
(1,138)
961
13,323
890
14,213
(6,664)
7,549
2022
2021
1,522
183
996
2,701
(1,081)
1,620
2022
2021
7,116
481
5,904
13,501
(6,487)
7,014
952
164
983
2,099
(1,138)
961
7,120
760
6,333
14,213
(6,664)
7,549
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
5. TRADE RECEIVABLES - NET (continued)
b. By age (continued)
(iii) Aging of total trade receivables
2022
2021
Allowance for
Expected
expected
credit losses
credit
loss rate
Allowance for Expected
expected
credit losses
credit
loss rate
Gross
Gross
Not past due
Past due up to 3 months
Past due more than 3 to 6 months
Past due more than 6 months
Total
6,964
1,674
664
6,900
16,202
399
349
222
6,598
7,568
5.7%
20.8%
33.4%
95.6%
5,625
2,447
924
7,316
16,312
532
328
253
6,689
7,802
9.5%
13.4%
27.4%
91.4%
The Group has made allowance for expected credit losses based on the collective assessment
of historical impairment rates and individual assessment of its customers’ credit history,
adjusted for forward-looking factors specific from the customers and the economic
environment. The Group does not apply a distinction between related party and third party
receivables in assessing amounts past due. As of December 31, 2022 and 2021, the carrying
amounts of trade receivables of the Group considered past due but not impaired amounted to
Rp2,069 billion and Rp3,417 billion, respectively. Management believes that receivables past
due but not impaired, along with trade receivables that are neither past due nor impaired, are
due from customers with good credit history and are expected to be recoverable.
c. By currency
(i) Related parties
Rupiah
U.S. Dollar
Total
Allowance for expected credit losses
Net
(ii) Third parties
Rupiah
U.S. Dollar
Singapore Dollar
Others (each below Rp100 billion)
Total
Allowance for expected credit losses
Net
2022
2021
2,694
7
2,701
(1,081)
1,620
2022
2021
12,020
1,352
89
40
13,501
(6,487)
7,014
d. Movements in the allowance for expected credit losses
Beginning balance
Allowance for expected credit losses
Receivables written off
Ending balance
2022
2021
7,802
567
(801)
7,568
2,098
1
2,099
(1,138)
961
12,517
1,606
56
34
14,213
(6,664)
7,549
8,360
474
(1,032)
7,802
The receivables written-off relate to both related party and third party trade receivables.
Management believes that the allowance for expected credit losses of trade receivables is
adequate to cover losses on uncollectible trade receivables.
As of December 31, 2022 and 2021, certain trade receivables of the subsidiaries amounting to
Rp1,129 billion and Rp2,330 billion, respectively, have been pledged as collateral under lending
agreements (Notes 18a and 19c).
47
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
6. CONTRACT ASSETS - NET
Contract assets
Allowance for expected credit losses
Net
Current portion
Non-current portion
2022
2021
2,610
(119)
2,491
(2,457)
34
2,588
(115)
2,473
(2,330)
143
Management believes that the allowance for expected credit losses of contract assets is adequate to
cover losses on uncollectible contract assets.
Refer to Note 32 for details of related party transactions.
7.
INVENTORIES - NET
Inventories, all recognize at net realizable value, consist of:
Components
SIM cards and prepaid vouchers
Others (each below Rp100 billion)
Total
Provision for obsolescence
Net
2022
2021
588
321
294
1,203
(59)
1,144
578
148
122
848
(69)
779
Management believes the provision is adequate to cover losses from the decline in inventory value
due to obsolescence.
The inventories recognized as expenses included in operations, maintenance and telecommunication
service expenses in 2022 and 2021 amounted to Rp747 billion and Rp739 billion, respectively (Note
25).
Certain inventories of the subsidiaries have been pledged as collateral under lending agreements as
of December 31, 2022 and 2021 amounted to RpNil and Rp557 billion, respectively.
As of December 31, 2022 and 2021, modules (part of property and equipment) and components held
by the Group with book value amounting to Rp94 billion and Rp122 billion, respectively, have been
insured against fire, theft, and other specific risks. The total sum insured as of December 31, 2022 and
2021 amounted to Rp111 billion and Rp133 billion, respectively.
Management believes the insurance coverage is adequate to cover potential losses of inventories
arising from the insured risks.
48
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
8. OTHER CURRENT ASSETS
The breakdown of other current assets are as follows:
Prepaid frequency license fees - current
portion (Note 35c.i)
Advances
Prepaid salaries
Others (each below Rp100 billion)
Total
9. CONTRACT COSTS
Movements of contract costs are as follows:
At January 1, 2022
Amortization during the year
Addition current year
At December 31, 2022
Current
Non-current
At January 1, 2021
Amortization during the year
Addition current year
At December 31, 2021
Current
Non-current
2022
2021
5,289
679
218
574
6,760
4,923
683
185
560
6,351
Cost to obtain
1,532
(338)
360
1,554
(354)
1,200
Cost to obtain
1,245
(281)
568
1,532
(312)
1,220
2022
Cost to
fulfill
732
(514)
640
858
(317)
541
2021
Cost to
fulfill
463
(488)
757
732
(344)
388
Total
2,264
(852)
1,000
2,412
(671)
1,741
Total
1,708
(769)
1,325
2,264
(656)
1,608
There is no provision for impairment of contract costs as of December 31, 2022 and 2021, respectively.
10. LONG-TERM INVESTMENTS
The breakdown of long-term investments are as follows:
Financial instruments
At fair value through profit or loss:
Equity
Convertible bonds
At fair value through
other comprehensive income:
Equity
Associates
PT Jalin Pembayaran Nusantara ("Jalin")
Others (each below Rp100 billion)
Total long-term investments
49
2022
2021
7,624
884
22
8,530
115
8
123
8,653
12,962
681
18
13,661
107
32
139
13,800
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
10. LONG-TERM INVESTMENTS (CONTINUED)
a. Long-term investment in financial instrument
Investments in equity at fair value through profit or loss are long-term investments in the form of
shares in various start-up companies engaged in information and technology. The Group does not
have significant influence in these start-up companies.
The investments include Telkomsel's investment in PT GoTo Gojek Tokopedia Tbk. (“GOTO”). As
of December 31, 2022, Telkomsel assessed the fair value of the investment in GOTO was Rp91
per share. The total unrealized loss from changes in fair value of Telkomsel’s investment in GOTO
as of December 31, 2022, amounted to Rp6,741 billion and was presented as unrealized loss on
changes in fair value of investments in the consolidated statement of profit or loss.
Investments in equity at fair value through profit or loss also included investments by MDI in several
start-up entities engaged in the information and technology sector. The additional investments
during the year by MDI amounted to Rp1,362 billion. The total unrealized gain from changes in fair
value of MDI’s investment amounted to Rp54 billion as of December 31, 2022 and was presented
as unrealized gain arising from change of valuation of investment in the consolidated statement of
profit or loss.
Investments in convertible bonds at fair value through profit or loss represent long-term
investments owned by Telkomsel and MDI in the form of convertible bonds in various start-up
companies engaged in information and technology, which will be immediately converted into
shares when they mature.
b. Long-term investment in associates
Investment in others which include investment in:
(i) Jalin was previously a subsidiary, on June 19, 2019, the Group sold of its 67.00% ownership,
thus ownership in Jalin is 33.00%.
(ii) PT Fintek Karya Nusantara (“Finarya”) of 24.83%. Finarya was previously a subsidiary of
Telkomsel. In 2019, there was an increase in issued and paid up capital made by various
investors hence Finarya became associate entity of Telkomsel.
(iii) PT Omni Inovasi Indonesia Tbk. (“Omni Inovasi Indonesia”) (previously PT Tiphone Mobile
Indonesia Tbk.) of 24.00%. Since 2019, management has recognized full impairment of
investment in PT Omni Inovasi Indonesia Tbk.
The unrecognized share in losses in other investments cumulatively as of December 31, 2022 and
2021 was amounting to Rp346 billion and Rp341 billion, respectively.
50
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
11. PROPERTY AND EQUIPMENT
The details of property and equipment are as follows:
December 31,
2021
Additions
Deductions
Reclassifications/
Translations
December 31,
2022
At cost:
Directly acquired assets
Land rights
Buildings
Leasehold improvements
Switching equipment
Telegraph, telex, and data communication
equipment
Transmission installation and equipment
Satellite, earth station, and equipment
Cable network
Power supply
Data processing equipment
Other telecommunication peripherals
Office equipment
Vehicles
Other equipment
Property under construction
Total
Accumulated depreciation and
impairment losses:
Directly acquired assets
Buildings
Leasehold improvements
Switching equipment
Telegraph, telex, and data communication
equipment
Transmission installation and equipment
Satellite, earth station, and equipment
Cable network
Power supply
Data processing equipment
Other telecommunication peripherals
Office equipment
Vehicles
Other equipment
Total
Net book value
1,821
17,296
1,477
18,324
1,583
165,621
10,528
67,559
22,035
19,258
9,121
2,352
537
47
2,950
340,509
5,537
1,163
12,225
1,582
94,532
5,199
18,735
15,874
14,130
4,330
1,866
270
40
175,483
165,026
10
778
80
1,066
-
4,494
155
7,807
433
877
1,261
157
100
2
16,936
34,156
632
130
1,985
-
12,087
830
4,388
1,699
1,806
1,717
261
38
3
25,576
-
(1)
(86)
(130)
-
(9,501)
(5)
(9)
(719)
(390)
-
(85)
(165)
(3)
-
(11,094)
(1)
(86)
(127)
-
(9,362)
(5)
(9)
(712)
(388)
-
(79)
(135)
(2)
(10,906)
7
874
100
823
-
10,492
126
(662)
1,527
1,209
20
201
133
5
(15,288)
(433)
60
-
17
-
78
17
(604)
29
(58)
20
25
69
3
(344)
1,838
18,947
1,571
20,083
1,583
171,106
10,804
74,695
23,276
20,954
10,402
2,625
605
51
4,598
363,138
6,228
1,207
14,100
1,582
97,335
6,041
22,510
16,890
15,490
6,067
2,073
242
44
189,809
173,329
51
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
11. PROPERTY AND EQUIPMENT (continued)
The details of property and equipment are as follows (continued):
December 31,
2020
Additions
Deductions
Reclassifications/
Translations
December 31,
2021
At cost:
Directly acquired assets
Land rights
Buildings
Leasehold improvements
Switching equipment
Telegraph, telex, and data communication
equipment
Transmission installation and equipment
Satellite, earth station, and equipment
Cable network
Power supply
Data processing equipment
Other telecommunication peripherals
Office equipment
Vehicles
Other equipment
Property under construction
Total
Accumulated depreciation and
impairment losses:
Directly acquired assets
Buildings
Leasehold improvements
Switching equipment
Telegraph, telex, and data communication
equipment
Transmission installation and equipment
Satellite, earth station, and equipment
Cable network
Power supply
Data processing equipment
Other telecommunication peripherals
Office equipment
Vehicles
Other equipment
Total
Net book value
1,800
16,137
1,410
17,506
2,012
159,196
10,423
60,796
20,988
17,663
7,513
2,125
551
68
2,524
320,712
4,872
1,061
11,621
1,582
87,991
4,412
15,978
14,757
12,780
2,885
1,574
229
47
159,789
160,923
20
197
45
1,112
-
3,829
359
8,722
303
250
1,646
205
34
6
13,613
30,341
652
132
1,871
-
11,554
743
4,210
1,546
1,708
1,492
357
71
4
24,340
-
(5)
(35)
(1,223)
-
(3,479)
(15)
(33)
(390)
(314)
-
(57)
(43)
-
(29)
(5,623)
(2)
(30)
(1,223)
-
(3,227)
(16)
(11)
(383)
(301)
-
(57)
(26)
-
(5,276)
1
967
57
929
(429)
6,075
(239)
(1,926)
1,134
1,659
(38)
79
(5)
(27)
(13,158)
(4,921)
15
-
(44)
-
(1,786)
60
(1,442)
(46)
(57)
(47)
(8)
(4)
(11)
(3,370)
1,821
17,296
1,477
18,324
1,583
165,621
10,528
67,559
22,035
19,258
9,121
2,352
537
47
2,950
340,509
5,537
1,163
12,225
1,582
94,532
5,199
18,735
15,874
14,130
4,330
1,866
270
40
175,483
165,026
a. Gain on sale of property and equipment
Proceeds from sale of property and equipment
Net book value
Gain on disposal or sale of property and equipment
2022
2021
526
(129)
397
756
(36)
720
b. Others
(i) During 2022 and 2021, the CGUs that independently generate cash inflows are fixed wireline,
cellular, and others. Management believes that there is no indication of impairment in the
assets of such CGUs as of December 31, 2022 and 2021.
(ii)
Interest capitalized to property under construction amounted to Rp79 billion and Rp52 billion
for the year ended December 31, 2022 and 2021, respectively. The capitalization rate used to
determine the amount of borrowing costs eligible for capitalization ranged from 5.63% to
7.90% and 5.63% to 8.70% for the year ended December 31, 2022 and 2021, respectively.
(iii) No foreign exchange loss was capitalized as part of property under construction for the year
ended December 31, 2022 and 2021.
52
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
11. PROPERTY AND EQUIPMENT (continued)
b. Others (continued)
(iv) During 2022 and 2021, the Group obtained proceeds from the insurance claim on lost and
broken property and equipment, with a total value of Rp299 billion and Rp133 billion,
respectively, and were recorded as part of “Other income - net” in the consolidated
statements of profit or loss and other comprehensive income. During 2022 and 2021, the net
carrying values of those assets of Rp270 billion and Rp103 billion, respectively, were
charged to the consolidated statements of profit or loss and other comprehensive income.
(v)
In 2022, the estimated useful lives of Group towers were changed from 30 to 40 years. The
impact of reduction in the depreciation expense for the year ended December 31, 2022 and
the estimate for the year ended 2023 amounted to Rp93 billion and Rp373 billion,
respectively. Towers are presented as part of transmission installation and equipment.
(vi) As of December 31, 2022 and 2021, the equipment units of Telkomsel with the carrying
amount of Rp6 billion and Rp818 billion, respectively, to be exchanged, and therefore the
equipment units were reclassified as assets held for sale in the consolidated statement of
financial position. In 2022 and 2021, the equipment units of Telkomsel with the net carrying
amount of Rp909 billion and Rp258 billion, respectively, had been exchanged with
equipment units of PT ZTE Indonesia. There is no provision for impairment of assets held
for sale as of December 31, 2022 and 2021.
(vii)
In 2021, the Company decided to discontinue the use of MSAN assets and accelerate the
depreciation of the MSAN assets, which have been fully depreciated in 2022. The impact of
accelerated depreciation of MSAN assets for the year ended December 31, 2022 and 2021
amounted to Rp1,494 billion and Rp1,603 billion, respectively. MSAN assets are presented
as part of cable network.
(viii) The Group owns several pieces of land located throughout Indonesia with Right to Build
(“Hak Guna Bangunan” or “HGB”) for a period of 8-50 years which will expire between 2023
and 2071. Management believes that there will be no issue in obtaining the extension of the
land rights when they expire.
(ix) As of December 31, 2022 and 2021, the Group’s property and equipment excluding land
rights, with net carrying amount of Rp172,112 billion and Rp161,287 billion, respectively,
were insured againts fire, theft, earthquake and other specified risks, including business
interruption, under blanket policies totalling Rp36,319 billion and Rp29,601 billion, HK10
million and HK8 million, SG$373 million and SG$360 million, and MYR54 million and MYR72
million, respectively, and first loss basis amounted to Rp2,750 billion, respectively.
Management believes that the insurance coverage is adequate to cover potential lossess
from the insured risks.
(x)
As of December 31, 2022 and 2021, the percentage of completion of property under
construction was approximately 55.91% and 75.63% respectively, of the total contract value,
with estimated dates of completion until August 2025 and February 2025, respectively. The
balance of property under construction mainly consist of buildings, transmission installation
and equipment, cable network, and power supply. Management believes that there is no
impediment to the completion of the construction in progress.
(xi) As of December 31, 2022 and 2021, all assets owned by the Company have been pledged
as collateral for bonds (Note 19b) while certain property and equipment of the Company’s
subsidiaries with gross carrying value amounting to Rp18,370 billion and Rp22,939 billion,
respectively, have been pledged as collateral under lending agreements (Notes 18a and
19c).
53
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
11. PROPERTY AND EQUIPMENT (continued)
b. Others (continued)
(xii) As of December 31, 2022 and 2021, the cost of fully depreciated property and equipment of
the Group that are still used in operations amounted to Rp67,979 billion and Rp67,355 billion,
respectively. The Group is currently conducting modernization of network assets to replace
the fully depreciated property and equipment.
(xiii) In 2022 and 2021, the total fair values of land rights and buildings of the Group amounted to
Rp49,014 billion and Rp45,604 billion, respectively.
12. RIGHT-OF-USE ASSETS
The carrying amounts of right-of-use assets recognized and the movement during the year:
Land rights Buildings
Transmission
installation and
equipment
Vehicles
Others
Total
As at January 1, 2021
Additions
Deductions and reclassifications
Depreciation expense
As at December 31, 2021
Additions
Deductions and reclassifications
Depreciation expense
As at December 31, 2022
4,100
968
(111)
(955)
4,002
1,169
(217)
(867)
4,087
568
532
(25)
(346)
729
121
17
(204)
663
12,912
4,341
(850)
(3,283)
13,120
8,205
(2,399)
(4,067)
14,859
535
82
(10)
(197)
410
488
(197)
(178)
523
451
66
16
(325)
208
23
8
(35)
204
18,566
5,989
(980)
(5,106)
18,469
10,006
(2,788)
(5,351)
20,336
The carrying amounts of the lease liabilities and the movements are as follows:
2022
2021
As at January 1
Accretion of interest
Additions (Note 39a)
Deductions
As at December 31
Current maturities
Non-current
Maturity analysis of lease payments are as follows:
Less than 1 year
1-5 years
More than 5 years
Total lease payments
Interest
Net present value of lease payments
Current maturities
Non-current
54
16,387
931
10,006
(8,663)
18,661
(4,925)
13,736
15,617
1,784
4,783
(5,797)
16,387
(5,961)
10,426
2022
5,893
11,272
4,888
22,053
(3,392)
18,661
(4,925)
13,736
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
12. RIGHT-OF-USE ASSETS (continued)
The Group leases several assets including land rights, building, transmission installation and
equipment, vehicles, and others which used in operations, which generally have lease term between
1 and 33 years.
The Group also has certain leases with lease terms of twelve months or less and low-value leases.
The Group applies the ‘short-term lease’ and ‘lease of low-value assets’ recognition exemptions for
these leases. There are no lease contracts with variable lease payments.
Detail of expenses related to leases are as follows:
Depreciation expense of right-of-use assets
Expense relating to short-term leases
Interest expense on lease liabilities
Expense relating to leases of low-value assets
2022
2021
5,351
3,821
931
52
5,106
5,251
1,784
57
13. OTHER NON-CURRENT ASSETS
The breakdown of other non-current assets is as follows:
Prepaid frequency license fees -
net of current portion (Note 35c.i)
Advances
Claims for tax refund - net of current portion (Note 27b)
Prepaid expenses
Security deposit
Prepaid taxes - net of current portion (Note 27a)
Others (each below Rp100 billion)
Total
2022
2021
1,291
781
621
446
144
-
340
3,623
1,572
868
1,488
454
102
601
446
5,531
14.
INTANGIBLE ASSETS
The details of intangible assets are as follows:
Gross carrying amount:
Balance, January 1, 2022
Additions
Deductions
Reclassifications/translations
Balance, December 31, 2022
Accumulated amortization and
impairment losses:
Balance, January 1, 2022
Amortization
Deductions
Reclassifications/translations
Balance, December 31, 2022
Net book value
Goodwill
Software
License
Other intangible
assets
Total
1,492
-
-
-
1,492
17,458
2,527
(175)
(31)
19,779
(402)
-
-
-
(402)
1,090
(11,714)
(2,063)
175
(14)
(13,616)
6,163
174
440
-
6
620
(125)
(26)
-
(1)
(152)
468
1,512
49
(70)
-
1,491
20,636
3,016
(245)
(25)
23,382
(889)
(91)
70
-
(910)
581
(13,130)
(2,180)
245
(15)
(15,080)
8,302
55
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
14.
INTANGIBLE ASSETS (continued)
The details of intangible assets are as follows:
Gross carrying amount:
Balance, January 1, 2021
Additions
Deductions
Reclassifications/translations
Balance, December 31, 2021
Accumulated amortization and
impairment losses:
Balance, January 1, 2021
Amortization
Impairment
Deductions
Reclassifications/translations
Balance, December 31, 2021
Net book value
Goodwill
Software
License
Other intangible
assets
Total
1,428
64
-
-
1,492
(125)
-
(277)
-
-
(402)
1,090
14,688
2,938
(19)
(149)
17,458
(9,863)
(1,828)
-
11
(34)
(11,714)
5,744
94
80
-
-
174
(94)
(31)
-
-
-
(125)
49
1,474
11
-
27
1,512
(756)
(143)
-
-
10
(889)
623
17,684
3,093
(19)
(122)
20,636
(10,838)
(2,002)
(277)
11
(24)
(13,130)
7,506
(i) Goodwill resulted from the acquisition of Sigma (2008), Admedika (2010), data center PT Bina
Data Mandiri (“BDM”) (2012), Contact Centres Australia Pty. Ltd. (2014), MNDG (2015), Melon
and PT Griya Silkindo Drajatmoerni (“GSDm”) (2016), TSGN and Nutech (2017), SSI, CIP, and
Telin Malaysia (2018), PST (2019), and Digiserve (2021) (Note 1e).
(ii) As of December 31, 2021, the impairment of goodwill arising from the acquisition of Contact
Centres Australia Pty. Ltd., SSI and Telin Malaysia amounted to Rp37 billion, Rp179 billion, and
Rp61 billion, respectively. The impairment losses are presented as part of "Depreciation and
amortization expenses” in the consolidated statements of profit or loss and other comprehensive
income.
(iii) The remaining amortization periods of software range for the years ended December 31, 2022
and 2021 are from 1-6 years, respectively. The amortization is presented as part of “Depreciation
and amortization expenses” in the consolidated statements of profit or loss and other
comprehensive income.
(iv) As of December 31, 2022 and 2021, the cost of fully amortized intangible assets that are still used
in operations amounted to Rp9,640 billion and Rp7,910 billion, respectively.
15. TRADE PAYABLES
The breakdown of trade payables is as follows:
Related parties
Purchases of equipments, materials, and services
Payables to other telecommunication providers
Sub-total
Third parties
Purchases of equipments, materials, and services
Payables to other telecommunication providers
Radio frequency usage charges, concession fees,
and Universal Service Obligation (“USO”) charges
Sub-total
Total
56
2022
2021
262
169
431
14,453
2,231
1,342
18,026
18,457
385
112
497
12,806
2,538
1,329
16,673
17,170
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
15. TRADE PAYABLES (continued)
Trade payables by currency are as follows:
Rupiah
U.S. Dollar
Others
Total
2022
2021
16,727
1,636
94
18,457
15,584
1,506
80
17,170
Terms and conditions of the above trade payables:
a. The Group’s trade payables are non-interest bearing and are normally settled on 1 year term.
b. Refer to Note 32 for details on related party transactions.
c. Refer to Note 37b.v for the Group’s liquidity risk management.
16. ACCRUED EXPENSES
The breakdown of accrued expenses is as follows:
Operation, maintenance,
and telecommunication services
Salaries and benefits
General, administrative, and marketing expenses
Interest and bank charges
Total
Refer to Note 32 for details of related party transactions.
17. CONTRACT LIABILITIES
a. Current portion
Advances from customers for Mobile
Advances from customers for WIB
Advances from customers for Enterprise
Advances from customers for Consumer
Others (each other below Rp100 billion)
Total
b. Non-current portion
Advances from customers for Consumer
Advances from customers for WIB
Advances from customers for Enterprise
Total
2022
2021
8,183
4,014
3,067
181
15,445
8,978
4,180
2,583
144
15,885
2022
2021
3,577
1,188
1,126
233
171
6,295
2022
2021
844
700
17
1,561
4,155
1,138
1,161
185
156
6,795
787
457
39
1,283
Contract liabilities at the beginning period which were recognized as revenue in 2022 and 2021
amounted to Rp6,795 billion and Rp7,834 billion, respectively.
Refer to Note 32 for details of related party transactions.
57
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
18. SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM LOANS AND OTHER
BORROWINGS
a. Short-term bank loans
Lenders
Related parties
Bank Mandiri
BNI
Sub-total
Third parties
PT Bank HSBC Indonesia ("HSBC")
MUFG Bank ("MUFG")
PT Bank DBS Indonesia ("DBS")
UOB
PT Bank Central Asia ("BCA")
Others (each below Rp100 billion)
Sub-total
Total
Outstanding
2022
2021
3,483
979
4,462
1,836
1,349
475
-
-
69
3,729
8,191
550
1,028
1,578
1,937
1,853
545
400
350
19
5,104
6,682
Other significant information relating to short-term bank loans as of December 31, 2022 is as
follows:
Total
facility
(in
billions)*
Borrower
Maturity date
Interest rate
Interest rate per
annum
Security**
Mandiri
2021 - 2022
Nutech,
Mitratel
3,100
July 26, 2023 -
September 27, 2023
Monthly
3.85% - 9.00%
2020
Finnet
500
April 28, 2023
Monthly
1 month
JIBOR + 1.30%
BNI
2014 - 2017
GSD, Sigmaa
350 November 7, 2023 -
January 9, 2024
Monthly
7.90% - 8.50%
2017 - 2021
HSBC
2014
2018 - 2019
MUFG Bank
2018 - 2022
DBS
2018
Sigmad, Metra,
PINS,
Metranet,
Telkomsat,
GSD, Melon
Infomedia,
Metra, GSD,
Telkom Infra,
Mitratel
Telkom Infra,
Infomedia
Metranet,
Telkom Infra,
Infomediab
1,135 February 18, 2023 -
June 6, 2023
Monthly
1 month JIBOR +
2.00% - 2.50%
Sigmac,e
400 November 17, 2023
Monthly
Under BLR 7.40%
2,250
January 31, 2023 -
December 31, 2023
Monthly,
Quarterly
2,430
June 21, 2023 -
October 31, 2023
Monthly
1 month
JIBOR + 0.80%
3 month
JIBOR + 1.00%
1 month
JIBOR + 0.70%
3 month
JIBOR + 0.40%
475
July 31, 2023
Monthly
1 month JIBOR +
1.20% - 1.45%
Trade
receivables
58
Trade
receivables
and property
and
equipment
None
Trade
receivables
and property
and
equipment
Trade
receivables
Trade
receivables
None
None
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
18. SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM LOANS AND OTHER
BORROWINGS (continued)
a. Short-term bank loans (continued)
Other significant information relating to short-term bank loans as of December 31, 2022 is as follows
(continued):
* In original currency
** Refer to Note 5 and Note 11 for details of trade receivables and property and equipment pledged as collateral.
a Based on the latest amendment on July 28, 2022.
b Based on the latest amendment on March 28, 2018 and July 6, 2018.
c Based on the latest amendment on July 16, 2018 and November 17, 2021
d Based on the latest amendment on April 23, 2021.
e Unsettled loan will be automatically extended.
As stated in the agreements, the Group is required to comply with all covenants or restrictions such
as limitation that the Company must have a majority shareholding of at least 51% of the subsidiaries
and maintaining financial ratios. As of December 31, 2022, the Group has complied with all
covenants.
The credit facilities were obtained by the Group for working capital purposes.
b. Current maturities of long-term loans and other borrowings
Two-step loans
Bonds
Bank loans
Other borrowings
Total
Notes
19a
19b
19c
19d
2022
2021
118
-
7,788
952
8,858
138
2,200
6,311
1,041
9,690
19. LONG-TERM LOANS AND OTHER BORROWINGS
Two-step loans
Bonds
Bank loans
Other borrowings
Total
Notes
19a
19b
19c
19d
2022
2021
91
4,793
22,085
362
27,331
217
4,793
29,745
1,564
36,319
Scheduled principal payments as of December 31, 2022 are as follows:
Notes
19a
19b
19c
19d
Total
91
4,793
22,085
362
27,331
2024
91
-
6,720
362
7,173
Year
2025
-
2,098
5,785
-
7,883
Two-step loans
Bonds
Bank loans
Other borrowings
Total
a. Two-step loans
2026
2027
-
-
4,226
-
4,226
Thereafter
-
2,695
3,187
-
5,882
-
-
2,167
-
2,167
Two-step loans are unsecured loans obtained by the Government from overseas banks which are
then re-loaned to the Company. Loans obtained up to July 1994 are payable in Rupiah based on
the exchange rate at the date of drawdown. Loans obtained after July 1994 are payable in their
original currencies and any resulting foreign exchange gain or loss is borne by the Company.
59
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
19. LONG-TERM LOANS AND OTHER BORROWINGS (continued)
a. Two-step loans (continued)
2022
Outstanding
2021
Outstanding
Lenders
Overseas banks
Total
Current maturities (Note 18b)
Long-term portion
Currency
Yen
US$
Rp
Foreign
currency
(in millions)
1,536
-
-
Rupiah
Rupiah
Foreign
currency
(in millions)
2,304
1
-
equivalent
181
-
28
209
(118)
91
equivalent
285
14
56
355
(138)
217
Lenders
Overseas banks
Principal payment
Currency
Yen
Rp
schedule
Semi-annually
Semi-annually
Interest payment period
Semi-annually
Semi-annually
Interest rate per
annum
2.95%
7.125%
The loans were intended for the development of telecommunications infrastructure and supporting
telecommunications equipment. The loans will be settled semi-annually and due on various dates
until 2024.
The Company had used all facilities under the two-step loans program since 2008 and the
withdrawal period for the two-step loan has ended.
Under the loan covenants, the Company is required to maintain financial ratios as follows:
i. Projected net revenue to projected debt service ratio should exceed 1, 2:1 for the two-step loans
originating from Asian Development Bank (“ADB”).
ii. Internal financing (earnings before depreciation and finance costs) should exceed 20%
compared to annual average capital expenditures for loans originating from the ADB.
As of December 31, 2022, the Company has complied with the above-mentioned ratios.
b. Bonds
2015
Series A
Series B
Series C
Series D
Total
Unamortized debt issuance cost
Total
Current maturities (Note 18b)
Long-term portion
Outstanding
2022
2021
-
2,100
1,200
1,500
4,800
(7)
4,793
-
4,793
2,200
2,100
1,200
1,500
7,000
(7)
6,993
(2,200)
4,793
2015
Bonds
Series A
Series B
Series C
Series D
Total
Principal
Issuer
2,200 The Company
2,100 The Company
1,200 The Company
1,500 The Company
7,000
Issuance
date
Listed on
IDX
IDX
IDX
IDX
Maturity date
June 23, 2015 June 23, 2022
June 23, 2015 June 23, 2025
June 23, 2015 June 23, 2030
June 23, 2015 June 23, 2045
Interest
payment period
Quarterly
Quarterly
Quarterly
Quarterly
Interest rate
per annum
9.93%
10.25%
10.60%
11.00%
60
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
19. LONG-TERM LOANS AND OTHER BORROWINGS (continued)
b. Bonds (continued)
The bonds are not secured by specific security but by all of the Company’s assets, movable or non-
movable, either existing or in the future (Note 11b.xi). The underwriters of the bonds are PT Bahana
TCW Management Investment (“Bahana TCW”), PT BRI Danareksa Sekuritas, PT Mandiri
Sekuritas, and PT Trimegah Sekuritas Indonesia, Tbk. and the trustee is Bank Permata.
The Company received the proceeds from the issuance of bonds on June 23, 2015.
The funds received from the public offering of bonds net of issuance costs, were used to finance
capital expenditures which consisted of wave broadband, backbone, metro network, regional metro
junction, information technology application and support, and acquisition of some domestic and
international entities.
As of December 31, 2022, the rating of the bonds issued by Pefindo is idAAA (Triple A).
Based on the Indenture Trusts Agreement, the Company is required to comply with all covenants
or restrictions, including maintaining financial ratios as follows:
(a) Debt to equity ratio should not exceed 2:1.
(b) EBITDA to interest ratio should not be less than 4:1.
(c) Debt service coverage is at least 125%.
As of December 31, 2022, the Company has complied with the above-mentioned ratios.
c. Bank loans
Lenders
Related parties
BNI
Bank Mandiri
BRI
BSI
Sub-total
Third parties
BCA
Bank CIMB Niaga
DBS
Bank Permata
Bank of China
Syndication of banks
HSBC
MUFG Bank
Bank Danamon
UOB Singapore
PT Bank ANZ Indonesia ("Bank ANZ")
Others (each below Rp100 billion)
Sub-total
Total
Unamortized debt issuance cost
Current maturities (Note 18b)
Long-term portion
2022
Outstanding
Foreign
currency
(in millions)
Rupiah
Currency
2021
Outstanding
Foreign
Rupiah
currency
(in millions) equivalent
-
-
-
-
-
-
0
-
-
-
-
24
-
-
-
22
-
-
11
7,500
7,374
2,223
533
17,630
8,651
194
5
3,887
1,188
400
350
338
750
1,972
-
314
286
152
36
18,523
36,153
(97)
36,056
(6,311)
29,745
equivalent
5,472
4,381
1,409
22
11,284
9,757
2,221
61
1,500
1,021
1,000
680
265
750
500
455
205
198
60
34
18,707
29,991
(118)
29,873
(7,788)
22,085
-
-
-
-
-
-
4
-
-
-
-
17
-
-
-
13
-
-
10
Rp
Rp
Rp
Rp
Rp
Rp
US$
Rp
Rp
Rp
Rp
US$
Rp
Rp
Rp
US$
Rp
Rp
MYR
61
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
19. LONG-TERM LOANS AND OTHER BORROWINGS (continued)
c. Bank loans (continued)
Other significant information relating to bank loans as of December 31, 2022 is as follows:
Borrower
Currency
Total
facility
(in
billions)*
Current
period
payment
(in billions)*
Principal
payment
schedule
Interest
payment
period
Interest rate
per annum
Security**
GSD
The
Company,
GSD, TLT,
Sigma,
Mitratel
The
Company,
GSD,
Mitratel,
The
Company
SSI
The
Company,
Mitratel,
PST, GSD
Rp
Rp
Rp
Rp
182
8,175
32 2020 - 2024
Monthly
8.75%
1,384 2016 - 2033 Monthly,
Quarterly
1 month
JIBOR + 2.25%;
3 months JIBOR +
1.70% - 1.85%
Rp
6,693
1,128 2019 - 2027 Quarterly 3 months JIBOR +
1.50% - 1.85%
Trade
receivables
Trade
receivables
and property
and
equipment
None
Rp
2,500
455 2019 - 2026 Quarterly 3 months JIBOR +
1.70% - 1.85%
None
55
11 2019 - 2024
Monthly
7.50%
None
15,986
2,880 2020 - 2030 Quarterly,
Semi-
annually
3 months
JIBOR + 1.50%
GSD, PINS,
Mitratel
Telin
Rp
2,500
65 2020 - 2029
US$
0
- 2024 - 2030
Mitratel
Rp
3,500
2,000 2023 - 2028
Mitratel
Rp
1,500
167 2021 - 2028
Quarterly 3 months JIBOR +
1.30% - 1.95%
6 months
SOFR + 1.82%
Semi-
annually
Semi-
annually
3 months
JIBOR + 1.70%
Semi-
annually
3 months JIBOR +
1.50% - 2.40%
Telkomsel
Rp
1,000
900 2021 - 2023 Quarterly
1 month
JIBOR + 2.00%
Mitratel
Rp
2,500
- 2024 - 2030
Telin
US$
0
0 2019 - 2025
Mitratel
Rp
750
- 2023 - 2028
Semi-
annually
Semi-
annually
7.68%
6 months
LIBOR + 1.25%
Semi-
annually
3 months
JIBOR + 1.50%
MUFG Bank
2021
Bank Danamon
2022
UOB Singapore
2018
ANZ
2015
Mitratel
Rp
500
- 2022 - 2028 Quarterly
Mitratel
Rp
636
182 2022 - 2025 Quarterly
3 months
JIBOR + 1.60%
3 months
JIBOR + 1.50%
Telin
US$
0
0 2019 - 2024
Semi-
annually
6 months
LIBOR + 1.25%
GSD, PINS
Rp
740
88 2020 - 2025 Quarterly 3 months JIBOR +
1.40% - 2.00%
62
Trade
receivables
and
property and
equipment
None
None
Property
and
equipment
Property
and
equipment
None
None
None
Property
and
equipment
None
None
None
None
BNI
2018
2013 - 2021
Bank Mandiri
2017 - 2020
BRI
2017 - 2019
BSI
2019
BCA
2020 - 2021
Bank CIMB
Niaga
2019 - 2022
2021 - 2022
DBS
2021
Bank Permata
2020 - 2021
Bank of China
2019
Syndication
of banks
2022
2018
HSBC
2021
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
19. LONG-TERM LOANS AND OTHER BORROWINGS (continued)
c. Bank loans (continued)
Other significant information relating to bank loans as of December 31, 2022 is as follows
(continued):
* In original currency
** Refer to Note 5 and Note 11 for details of trade receivables and property and equipment pledged as collateral.
a Telkomsel has no collateral for its bank loans, or other credit facilities. The terms of the various agreements with Telkomsel’s lenders
and financiers require compliance with a number of covenants and negative covenants as well as financial and other covenants,
which include, among other things, certain restrictions on the amount of dividends and other profit distributions which could adversely
affect Telkomsel’s capacity to comply with its obligation under the facility. The terms of the relevant agreements also contain default
and cross default clauses. As of December 31, 2022, Telkomsel has complied with the above covenants.
As stated in the agreements, the Group is required to comply with all covenants or restrictions such
as dividend distribution, obtaining new loans, and maintaining financial ratios. As of December 31,
2022, the Group obtained waiver from lenders for the non-fulfillment financial ratios in Metra,
Sigma, GSD, and TLT. The waivers from HSBC, Bank DBS, BNI, and Bank Mandiri were received
on December 19, 2022, December 22, 2022, December 23, 2022, December 29, 2022, and
December 26, 2022. As of December 31, 2022, the Group has complied with all covenants.
The credit facilities were obtained by the Group for working capital purposes and investment
purposes.
d. Other borrowings
Lenders
PT Sarana Multi Infrastruktur (Persero)
("Sarana Multi Infrastruktur")
Unamortized debt issuance cost
Total
Current maturities (Note 18b)
Long-term portion
Outstanding
2022
2021
1,315
(1)
1,314
(952)
362
2,609
(4)
2,605
(1,041)
1,564
Other significant information relating to other borrowings as of December 31, 2022, is as follows:
Sarana Multi
Infrastruktur
November 14, 2018
March 29, 2019*
March 29, 2019*
Borrower
Currency
Total
facility
(in
billions)
Current
period
payment
(in billions)
Principal
payment
schedule
Interest rate
per annum
Security
The
Company
The
Company
Telkomsat
Rp
Rp
Rp
1,000
2,836
220
700
164
23.5
Semi-annually
(2019 - 2023)
Semi-annually
(2020 - 2024)
Semi-annually
(2020 - 2024)
3 months
JIBOR + 1.75%
3 months
JIBOR + 1.75%
3 months
JIBOR + 1.75%
None
None
None
* Based on the latest amendment on June 15, 2020.
Under the agreement, the Company and Telkomsat are required to comply with all covenants or
restrictions, including maintaining financial ratios as follows:
(a) Debt to equity ratio should not exceed 2:1
(b) Net debt to EBITDA ratio should not exceed 4:1
(c) Minimal debt service coverage at least 125%
As of December 31, 2022, the Company and Telkomsat have complied with the above-mentioned
ratios.
63
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
20. NON-CONTROLLING INTERESTS
The details of non-controlling interests are as follows:
Non-controlling interests in net assets of subsidiaries:
Telkomsel
Mitratel
Others
Total
Non-controlling interests in profit (loss)
of subsidiaries:
Telkomsel
Mitratel
Others
Total
Material partly-owned subsidiaries
2022
2021
10,535
9,038
431
20,004
13,804
9,464
485
23,753
2022
2021
6,419
502
6
6,927
9,155
64
(31)
9,188
The non-controlling interest which are considered material to the company are the non-controlling
interest in Telkomsel and Mitratel. On December 31, 2022 and 2021, The non-controlling interest in
Telkomsel holds 35.00% and 35.00% and Mitratel holds 28.15% and 28.13%, respectively.
The summarized financial information of Telkomsel and Mitratel are provided below. This information
is based on amounts before intercompany eliminations.
Summarized statements of financial position:
Current assets
Non-current assets
Current liabilities
Non-current liabilities
Total equity
Attributable to:
Telkomsel
Mitratel
2022
16,290
84,701
(32,241)
(38,708)
30,042
2021
12,288
89,014
(31,654)
(30,205)
39,443
2022
7,886
48,185
(10,200)
(12,064)
33,807
2021
21,303
36,426
(6,476)
(17,607)
33,646
Owners of the parent company
Non-controlling interests
19,507
10,535
25,639
13,804
24,769
9,038
24,182
9,464
64
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
20. NON-CONTROLLING INTERESTS (continued)
Summarized statements of profit or loss and other comprehensive income:
Revenues
Operation expenses
Other expenses - net
Profit before income tax
Income tax expense - net
Profit for the year
Other comprehensive income
(loss) - net
Total comprehensive income
for the year
Attributable to
non-controlling interests
Dividends paid to
non-controlling interests
Summarized statements of cash flows:
Operating
Investing
Financing
Net increase (decrease) in cash and
cash equivalents
CF
21. CAPITAL STOCK
Telkomsel
2022
89,039
(59,574)
(5,343)
24,122
(5,755)
18,367
2021
87,506
(52,437)
(1,932)
33,137
(6,977)
26,160
Mitratel
2022
2021
7,729
(4,576)
(1,193)
1,960
(175)
1,785
6,869
(4,129)
(1,129)
1,611
(230)
1,381
145
(75)
(1)
8
18,512
26,085
1,784
1,389
6,419
9,155
9,784
13,204
502
272
64
-
Telkomsel
Mitratel
2022
42,970
(8,652)
(30,783)
2021
40,789
(12,943)
(34,239)
2022
6,020
(10,893)
(7,921)
2021
5,363
(12,597)
25,851
3,535
(6,393)
(12,794)
18,617
Description
Number of shares
2022
Percentage of
ownership
Total paid-in
capital
Series A Dwiwarna share
Government
Series B shares
Government
The Bank of New York Mellon Corporation*
Directors (Note 1b):
Ririek Adriansyah
Budi Setyawan Wijaya
Afriwandi
Herlan Wijanarko
Heri Supriadi
Commisioner (Note 1b):
Arya Mahendra Sinulingga
Public (individually less than 5%)
Total
1
51,602,353,559
3,889,668,580
1,156,955
275,000
42,500
42,500
40,000
87,500
43,568,550,005
99,062,216,600
0
52.09
3.93
0
0
0
0
0
0
43.98
100.00
0
2,580
194
0
0
0
0
0
0
2,179
4,953
65
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
21. CAPITAL STOCK (continued)
Description
Number of shares
2021
Percentage of
ownership
Total paid-in
capital
Series A Dwiwarna share
Government
Series B shares
Government
The Bank of New York Mellon Corporation*
Directors (Note 1b):
Ririek Adriansyah
Budi Setyawan Wijaya
Afriwandi
Herlan Wijanarko
Heri Supriadi
Edi Witjara
Public (individually less than 5%)
Total
1
51,602,353,559
4,829,039,080
1,156,955
275,000
42,500
42,500
40,000
32,500
42,629,234,505
99,062,216,600
0
52.09
4.87
0
0
0
0
0
0
43.04
100.00
0
2,580
241
0
0
0
0
0
0
2,132
4,953
* The Bank of New York Mellon Corporation serves as the Depositary of the registered ADS holders for the Company’s ADSs.
The Company issued only 1 Series A Dwiwarna share which is held by the Government and cannot
be transferred to any party, and has a veto right in the General Meeting of Stockholders of the
Company with respect to election and removal of the Boards of Commissioners and Directors,
issuance of new shares, and amendments of the Company’s Articles of Association.
22. OTHER EQUITY
Difference due to acquisition of non controlling interests
In subsidiaries
Translation adjustment
Effect of change in equity of associated companies
Unrealized holding gain on available-for-sale securities
Other equity components
Total
2022
2021
8,358
910
386
6
37
9,697
8,358
611
386
3
37
9,395
66
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
23. REVENUES
The Group derives revenues in the following major product lines:
2022
Mobile
Consumer
Enterprise
WIB
Others
Consolidated revenue
Telephone revenues
Cellular
Fixed lines
Total telephone revenues
Interconnection revenues
Data, internet, and information
technology service revenues
Cellular data and internet
Internet, data communication, and
information technology services
SMS
Others
Total data, internet, and information
technology service revenues
Network revenues
Indihome revenues
Other services
Call center service
Manage service and terminal
E-health
E-payment
Others
Total other services
Total revenues from
contract with customer
Revenues from lessor transactions
Total revenues
Adjustments and eliminations
Total external revenues as reported in
note operating segment
11,905
-
11,905
285
69,006
-
4,260
9
73,275
3
-
-
-
-
20
5
25
-
757
757
-
-
308
-
-
308
-
25,232
-
-
-
-
52
52
85,493
-
85,493
-
26,349
-
26,349
5
-
604
604
-
147
175
322
8,187
-
-
7,750
49
1,733
9,532
1,438
2,788
1,139
1,156
729
454
1,309
4,787
19,149
-
19,149
12
2,228
-
860
3,088
937
-
25
1
-
-
280
306
12,840
2,604
15,444
(2)
85,493
26,354
19,161
15,442
-
-
-
-
-
-
-
207
207
-
-
-
-
-
-
664
664
871
-
871
(632)
239
12,052
1,536
13,588
8,472
69,006
10,286
4,309
2,809
86,410
2,378
28,020
1,164
1,157
729
474
2,310
5,834
144,702
2,604
147,306
2021
Mobile
Consumer
Enterprise
WIB
Others
Consolidated revenue
Telephone revenues
Cellular
Fixed lines
Total telephone revenues
Interconnection revenues
Data, internet, and information
technology service revenues
Cellular data and internet
Internet, data communication, and
information technology services
SMS
Others
Total data, internet, and information
technology service revenues
Network revenues
Indihome revenues
Other services
Call center service
Manage service and terminal
E-health
E-payment
Others
Total other services
Total revenues from
contract with customer
Revenues from lessor transactions
Total revenues
Adjustments and eliminations
Total external revenues as reported in
note operating segment
-
649
649
-
-
7,976
26
1,596
9,598
1,087
2,605
1,012
2,047
640
459
1,036
5,194
19,133
-
19,133
8
19,141
73
185
258
7,419
-
2,056
-
922
2,978
789
-
69
1
-
-
325
395
11,839
2,412
14,251
4
14,255
-
-
-
-
-
-
-
180
180
-
-
-
-
-
25
426
451
631
-
631
(426)
205
14,737
1,730
16,467
7,787
64,500
10,272
4,754
2,698
82,224
1,880
26,325
1,081
2,048
640
487
1,859
6,115
140,798
2,412
143,210
14,664
-
14,664
368
64,500
-
4,728
-
69,228
4
-
-
-
-
3
-
3
84,267
-
84,267
-
84,267
-
896
896
-
-
240
-
-
240
-
23,720
-
-
-
-
72
72
24,928
-
24,928
2
24,930
67
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
23. REVENUES (continued)
Management expects that most of the transaction price allocated to the unsatisfied contracts as of
December 31, 2022 will be recognized as revenue during the next reporting periods. Unsatisfied
performance obligations as of December 31, 2022, which management expect to be realised within
one year is Rp6,455 billion, and more than one year is Rp4,703 billion.
The Group entered into non-cancellable lease agreements as a lessor. The lease agreements cover
leased lines, telecommunication equipment, and land and building. These leases have terms of
between 1 to 10 years. All leases include a clause to enable an upward revision of the rental charge
on an annual basis according to the prevailing market conditions. These lessees are also required to
provide a residual value guaranted on the properties.
There is no revenue from major customers which exceeds 10% of total revenues for the year ended
December 31, 2022 and 2021.
Refer to Note 32 for details of related parties transactions.
24. PERSONNEL EXPENSES
The breakdown of personnel expenses is as follows:
Salaries and related benefits
Vacation pay, incentives, and other benefits
Pension and other post-employment
benefits (Note 30)
LSA expense (Note 31)
Others
Total
2022
2021
9,360
3,835
1,585
92
35
14,907
8,661
4,999
1,680
153
31
15,524
Refer to Note 32 for details of related parties transactions.
25. OPERATION, MAINTENANCE, AND TELECOMMUNICATION SERVICE EXPENSES
The breakdown of operation, maintenance, and telecommunication service expenses is as follows:
2022
2021
Operation and maintenance
Radio frequency usage charges (Note 35c.i)
Leased lines and Customer Premise Equipment ("CPE")
Concession fees and USO charges (Note 15)
Electricity, gas, and water
Cost of SIM cards, vouchers, and
sales of peripherals (Note 7)
Project management
Vehicles rental and supporting facilities
Insurance
Others (each below Rp100 billion)
Total
Refer to Note 32 for details of related parties transactions.
22,746
6,510
3,530
2,601
904
747
400
343
230
173
38,184
21,467
6,097
5,003
2,472
898
739
519
305
432
201
38,133
68
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
26. GENERAL AND ADMINISTRATIVE EXPENSES
The breakdown of general and administrative expenses is as follows:
General expenses
Professional fees
Allowance for expected credit losses
Traveling
Training, education, and recruitment
Meeting
Social contribution
Collection expenses
Research and development
Others (each below Rp100 billion)
Total
Refer to Note 32 for details of related parties transactions.
27. TAXATION
a. Prepaid taxes
The Company:
Income Tax
Article 22 - Witholding tax on goods delivery
and imports
Article 23 - Witholding tax on service delivery
VAT
Subsidiaries:
Income Tax
Corporate Income Tax
Article 4(2) - Final tax
Article 23 - Witholding tax on service delivery
VAT
Total prepaid taxes
Current portion
Non-current portion (Note 13)
b. Claims for tax refund
The Company
Corporate Income Tax
Article 21 - Individual income tax
VAT
Subsidiaries
Income Tax
Corporate income tax
Article 23 - Witholding tax on services delivery
VAT
Total claims for tax refund
Current portion
Non-current portion (Note 13)
69
2022
2021
2,259
1,097
563
421
371
312
218
173
108
332
5,854
2,043
789
477
321
284
249
213
212
82
346
5,016
2022
2021
1
97
-
3
24
16
1,323
1,464
(1,464)
-
-
81
601
-
5
19
2,039
2,745
(2,144)
601
2022
2021
19
3
155
578
8
238
1,001
(380)
621
500
-
403
662
17
596
2,178
(690)
1,488
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
c. Taxes payable
The Company:
Income taxes
2022
2021
Article 4(2) - Final tax
Article 21 - Individual income tax
Article 22 - Withholding tax on goods delivery
and imports
Article 23 - Withholding tax on services
Article 25 - Installment of corporate income tax
Article 26 - Withholding tax on non-resident
income
Article 29 - Corporate income tax
VAT
VAT - Tax collector
Subsidiaries:
Income taxes
Article 4(2) - Final tax
Article 21 - Individual income tax
Article 22 - Withholding tax on goods delivery
and imports
Article 23 - Withholding tax on services
Article 25 - Installment of corporate income tax
Article 26 - Withholding tax on non-resident
income
Article 29 - Corporate income tax
VAT
VAT - Tax collector
Total taxes payable
50
79
7
48
190
5
575
244
286
1,484
287
206
5
68
260
262
1,782
493
525
3,888
5,372
d. The components of consolidated income tax expense (benefit) are as follows:
Current
The Company
Subsidiaries
Deferred
The Company
Subsidiaries
Net income tax expense
2022
2021
2,134
7,125
9,259
(103)
(497)
(600)
8,659
53
97
8
47
211
3
455
505
409
1,788
215
151
3
65
23
14
919
745
-
2,135
3,923
2,236
7,320
9,556
(614)
788
174
9,730
70
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
d. The components of consolidated income tax expense (benefit) are as follows (continued):
The reconciliation between the profit before income tax and the estimated taxable income of
the Company for the years ended December 31, 2022 and 2021 are as follows:
2022
2021
Profit before income tax consolidation
Add back consolidation eliminations
Consolidated profit before income tax and eliminations
Less: profit before income tax of the subsidiaries
Profit before income tax attributable to the Company
before deduction of income subject to final tax
Less: income subject to final tax
Profit before income tax attributable to the Company
after deduction of income subject to final tax
Temporary differences:
Allowance for expected credit losses
Deferred installation fee
Leases
Provision for employee benefits
Land rights, intangible assets, and other
Net periodic pension and other post-employment
benefits costs
Difference between book value of accounting
and tax property equipment
Accrued expenses and provision for inventory
obsolescence
Contract cost
Net temporary differences
Permanent differences:
Net periodic post-retirement health care benefit costs
Donations
Employee benefits
Expense related to income subject to final tax
Equity in net income of associates and subsidiaries
Other (income) expense from tax assesment result
Others
Net permanent differences
Taxable income of the Company
Current corporate income tax expense
Final income tax expense
Total current income tax expense of the Company
Current income tax expense of the subsidiaries
Total current income tax expense
36,339
28,617
64,956
(38,892)
26,064
(414)
25,650
(54)
104
7
(507)
7
(131)
209
68
125
(172)
212
239
169
168
(15,304)
4
73
(14,439)
11,039
2,098
36
2,134
7,125
9,259
43,678
33,098
76,776
(46,954)
29,822
(1,144)
28,678
(84)
273
7
586
(8)
91
696
(19)
132
1,674
263
228
163
148
(19,731)
32
138
(18,759)
11,593
2,202
34
2,236
7,320
9,556
71
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
d. The components of income tax expense (benefit) are as follows (continued):
The reconciliation between the income tax expense calculated by applying the applicable tax rate
of 19% to the profit before income tax less income subject to final tax, and the net income tax
expense as shown in the consolidated statements of profit or loss and other comprehensive income
is as follows:
8
Profit before income tax consolidation
Less consolidated income subject to final tax - net
2022
2021
36,339
(5,812)
30,527
43,678
(2,383)
41,295
Income tax expense calculated at the Company’s
applicable statutory tax rate
Difference in applicable statutory tax rate for
subsidiaries
Non-deductible expenses
Final income tax expense
Changes of tax rates
Deferred tax adjusment
Unrecognized deferred tax
Others
Net income tax expense
5,800
694
1,992
36
-
(508)
(61)
706
8,659
7,846
1,068
71
36
(233)
-
18
924
9,730
In October 2021, the Government issued Law No. 7/2021 concerning Harmonization of Tax
Regulations (HPP Law). In Chapter III Article 3 of the HPP Law, amendments to the Income Tax
Law have been regulated, including amendments to Article 17 paragraph (1) letter b which
stipulates that the tax rate applied to Taxable Income for domestic corporate taxpayers and
permanent establishments is 22%, which comes into force in the 2022 tax year, and for corporate
taxpayers in the form of a limited liability company with a total number of paid-up shares is traded
on a stock exchange in Indonesia of at least 40% and meeting certain requirements can receive
3% tax rate lower than the expected rate.
The Company has applied the tax rate of 19% for the year ended December 31, 2022 and 2021.
The subsidiaries applied the tax rate of 22% for the year ended December 31, 2022 and 2021.
The Company has submitted the above taxable income and current income tax expense
computation in its income tax return (“Surat Pemberitahuan Tahunan” or Annual Tax Return) for
fiscal year 2021 that will be reported to the tax office based on prevailing regulations.
e. Tax assessment
(i) The Company
Income tax and VAT fiscal year 2015
On April 25, 2017, the Tax Authorities issued Tax Overpayment Assessment Letter (“SKPLB”)
for corporate income tax amounting to Rp147 billion, and SKPKBs for underpayment of VAT
amounting to Rp13 billion (including penalty of Rp4.1 billion), underpayment of VAT on tax
collected amounting to Rp6 billion (including penalty of Rp1.5 billion), underpayment of self-
assessed offshore VAT amounting to Rp55.3 billion (including penalty of Rp16.8 billion). The
Company also received STP for VAT amounting to Rp34 billion, VAT on tax collected
amounting to Rp7 billion, and self-assessed offshore VAT amounting to Rp8 billion.
The Company accepted tax audit decision amounting to Rp17 billion for corporate income tax,
to transfer deductible temporary differences related to provision for incentives to fixed wireless
(Flexi) subscribers’ migration amounting to Rp42 billion from Annual Tax Return of corporate
income tax fiscal year 2015 to Annual Tax Return of corporate income tax fiscal year 2016.
72
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
e. Tax assessments (continued)
(i) The Company (continued)
Income tax and VAT fiscal year 2015 (continued)
The Company also accepted underpayment of VAT, underpayment of VAT on tax collected,
and STP for VAT on tax collected amounting to Rp26 billion.
The accepted portion was charged to the 2017 consolidated statements of profit or loss and
other comprehensive income. On July 24, 2017, the Company filed Objection Letter to the Tax
Authorities for corporate income tax amounting to Rp210.5 billion and self-assessed offshore
VAT amounting to Rp55.3 billion.
On May 3 and 22, 2018, the Tax Authorities issued decision letter on Company’s objections
for SKPLB of self-assessed offshore VAT amounting to Rp54.6 billion, wherein Tax Authorities
reduced the Company’s underpayment and granted all the Company’s objection. The
Company agreed with the Tax Authorities decision regarding SKPLB of self-assessed offshore
VAT amounting to Rp793 million and charged in the 2018 consolidated statements of profit or
loss and other comprehensive income. On July 18, 2018, the Tax Authorities issued Decision
Letter on Company’s objections for SKPLB of corporate income tax, wherein the Tax
Authorities has granted the several Company’s objection and additional amount of
overpayment which should be received amounting to Rp76 billion. On October 10, 2018, the
Company filed an appeal.
On July 8, 2020, the Company received appeal decision from the Tax Court regarding
corporate income tax dispute for fiscal year 2015. The Tax Court partially approved the appeal
filed by the Company. On September 9, 2020, the Company received tax refund of additional
overpayment of corporate income tax amounting to Rp90.9 billion.
On October 26, 2020, the Company received notification letter from Tax Court that Tax
Authorities filed a judicial review of corporate income tax dispute for fiscal year 2015. On
December 2, 2020, the Company filed a contra memorandum for judicial review as response
of Tax Authorities judicial review. As of the date of approval and authorization for the issuance
of these consolidated financial statements, the Company did not received verdict from the
Supreme Court. In accordance with taxation law, for all withholding income tax and VAT
except for corporate income tax has passed tax assessment period, therefore all tax liabilities
for fiscal year 2015 considered final and has permanent legal force.
The entire file of the Judicial Review Memorandum submitted by the Judicial Review Applicant
(DGT) and the Judicial Review Counter Memorandum file sent by the Respondent (Telkom)
have been forwarded by the Secretariat of the Tax Court to the Supreme Court on December
13, 2022, with a letter of introduction number PKMA-1594/XII/ PAN.Wk/2022.
As of the issuance date of these financial statements, the Company still has not received the
Supreme Court decision on the DGT’s request for review. Thus, all tax obligations for 2015
other than the type of corporate income tax can be considered final and have permanent legal
force because at the time of issuance of these consolidated financial statements, the 2015 tax
obligations have passed the expiration date for tax determination as stipulated in the tax laws
and regulations.
73
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
e. Tax assessments (continued)
(i) The Company (continued)
Income tax and VAT fiscal year 2018
On December 16, 2020, the Company received Tax Assessment Letter (“SKP”) and STP as
result of 2018 tax audit. The DGT issued SKPLB of corporate income tax amounting to
Rp101.5 billion, SKPLB of withholding tax article 21 amounting to Rp1.9 billion (include penalty
Rp573.9 million), SKPLB of withholding tax article 23 amounting to Rp4 million (include penalty
Rp1.2 million) and SKPLB of VAT for fiscal period January to August and October to December
amounting to Rp85.3 billion). Furthermore, the DGT issued SKPKB of VAT for fiscal period
September amounting to Rp240.5 billion (include penalty Rp59.5 billion), SKPKB of VAT
WAPU amounting to Rp15.17 billion (include penalty Rp4.6 billion) and STP of VAT WAPU
amounting to Rp1.2 billion. The Company agreed to receive tax audit correction of corporate
income tax amounting Rp1.1 billion, underpayment of withholding tax article 21 amounting to
Rp1.9 billion, underpayment of withholding tax article 23 amounting to Rp4 million, VAT tax
credit amounting to Rp4.8 billion, STP of VAT WAPU amounting Rp1.2 billion and
underpayment of VAT WAPU amounting to Rp15.17 billion. These corrections that have been
approved have been charged to the 2020 profit or loss income statement.
The Company did not agree with the correction from tax auditor who imposes VAT on the
transaction of submitting the space segment component (asset in constructive) of the Satelit
Merah Putih to Telkomsat. In March 2021, the Company has submitted a tax objection letter
to the Tax Authority for the correction of the tax auditor. On March 4, 2022, the Company
received notification letter from Tax Authority number KEP-00253/KEB/PJ/WPJ.19/2022 that
approved the objection filed by the Company. On April 8, 2022, the Company has received a
refund of Rp270.4 billion in accordance with the Decree. Thus, for all types of taxes in 2018
the Company has received all decisions that are final and have permanent legal force.
VAT fiscal year 2019
On May 12, 2022, the Company received a notice of field audit for overpayment of domestic
VAT for period January to December 2019. On November 30, 2022, the Company received
SKPKB and STP WAPU VAT for the period January to December 2019 amounting to Rp6.3
billion (including a fine of Rp3.1 billion) and domestic VAT SKPLB for January to December
2019 amounting to Rp 60.8 billion. The company agrees to accept the auditor's tax correction
and has charged fines and audit corrections to the 2022 income statement. Thus, for the 2019
VAT tax type, the Company has received a decision that is final and has permanent legal
force.
VAT fiscal year 2020
On September 1, 2022, the Company received a notice of field audit for overpayment of
domestic VAT for period May 2020. As at the authorization date of these consolidated financial
statements, the tax audit process is still ongoing.
(ii) Telkomsel
Income tax and VAT fiscal year 2014
On May 31, 2019, Telkomsel received the SKPKB and STP for the fiscal year 2014 amounting
to Rp150.6 billion (including penalty of Rp54.6 billion). Telkomsel accepted and paid the
portion of Rp16.5 billion on June 27, 2019 and recorded it as other expense. On August 20,
2019, Telkomsel has paid amounting to Rp99.1 billion and recorded it as claim for tax refund.
Subsequently, on August 23, 2019, Telkomsel filed an objection to the Tax Authorities
amounting to Rp134.1 billion.
74
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
e. Tax assessments (continued)
(ii) Telkomsel (continued)
Income tax and VAT fiscal year 2014 (continued)
On July 15 and July 22, 2020, Telkomsel received objection decision letter from Tax
Authorities which accepted Rp27.2 billion and rejected Rp106.8 billion. In August 27, 2020
Telkomsel received partially the tax refund Rp27.2 billion. On September 28, 2020, Telkomsel
filed an appeal to the Tax Court for the 2014 corporate income tax, withholding tax, and VAT.
In April and May 2022, Telkomsel received the Tax Court’s Verdict for the 2014 underpayment
of withholding tax and VAT which fully accepted Telkomsel’s appeal amounting to Rp13.7
billion and Rp52.3 billion. Telkomsel received the tax refund in May and June 2022, and
recorded the remaining tax assessment of Rp3.6 billion as expense in 2022 consolidated
statements of profit or loss.
In August 2022, Telkomsel received notifications that the Tax Authorities had filed judicial
reviews to the Supreme Court for the Tax Court's decision on VAT 2014 amounting Rp8 billion.
Telkomsel submitted its contra memorandums for judicial review in September 2022. As at the
authorization date of these consolidated financial statements, the results of appeal for
corporate income tax and judicial review for VAT have not yet been decided.
Income tax and VAT fiscal year 2015
On August 1, 2019, Telkomsel received the SKPKB and STP for fiscal year 2015 amounting
to Rp384.8 billion (including penalty of Rp128.6 billion). On August 28, 2019, Telkomsel has
paid the whole amount (including penalty). For the amount of Rp34.6 billion was charged to
the statement of profit or loss and other comprehensive income and for the remaining portion
amounting to Rp350.2 billion was recorded as claim for tax refund. On September 24, 2019,
Telkomsel filed an objection to the Tax Authorities amounting to Rp350.2 billion.
On July 13, 2020, Telkomsel received objection decision letter from Tax Authorities that
rejected all Company’s objection. On September 28, 2020, Telkomsel filed an appeal to the
Tax Court for the 2015 CIT, WHT, and VAT.
In April and May 2022, Telkomsel received the Tax Court’s Verdict for the 2015 underpayment
of withholding tax and VAT which partially accepted Telkomsel’s appeal amounting to Rp52.9
billion. Telkomsel received the tax refund in April and May 2022 and charge the rejected
portion of Rp3 billion as expense in 2022 consolidated financial statements of profit or loss.
In August 2022, Telkomsel received notifications that the Tax Authorities had filed judicial
reviews to the Supreme Court for the Tax Court's decision on VAT. Telkomsel submitted its
contra memorandums for judicial review in August 2022. As at the authorization date of these
consolidated financial statements, the results of appeal for corporate income tax and judicial
review for VAT have not yet been decided.
Income tax and VAT fiscal year 2018
On September 22, 2022, Telkomsel received tax underpayment assessment letters and tax
collection letters for the 2018 corporate income tax, VAT on taxable goods and withholding
tax article 26 amounting to Rp159.8 billion (including penalty of Rp48.6 billion) in total. At the
same date, Telkomsel also received tax assessment letters for 2018 VAT on taxable services
confirming tax overpayments in the amount of Rp40 billion.
75
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
e. Tax assessments (continued)
(ii) Telkomsel (continued)
Income tax and VAT fiscal year 2018 (continued)
On October 14, 2022, Telkomsel paid and accepted a portion of the CIT tax assessment of
Rp164.79 million and recorded it as expense in the consolidated statements of profit or loss.
Telkomsel also paid the remaining amount of tax assessment for CIT and VAT amounting to
Rp57.03 billion, after deducted with overpayment of Rp40.05 billion. Telkomsel recorded it as
claim for tax refund in the consolidated statements of financial position.
On December 13, 2022, Telkomsel filed an objection to the Tax Authorities amounting to
Rp119.54 billion for CIT, VAT and WHT. As at the authorization date of these consolidated
financial statements, the results of objection have not yet been received.
f. Deferred tax assets and liabilities
The details of the Group's deferred tax assets and liabilities are as follows (continued):
The Company
Allowance for expected credit losses
Net periodic pension and other
post-employment benefit costs
Difference between accounting and tax
bases of property and equipment
Provision for employee benefits
Deferred installation fee
Land rights, intangible assets and others
Accrued expenses and provision for
inventory obsolescence
Leases
Contract cost
Total deferred tax assets
Telkomsel
Provision for employee benefits
Allowance for expected credit losses
Leases
Fair value measurement of financial
instruments
Difference between accounting and tax bases of
property and equipment
License amortization
Other financial instruments
Deferred tax assets (liabilities) of Telkomsel - net
Deferred tax assets of the other subsidiaries - net
Deferred tax liabilities of the other subsidiaries - net
Deferred tax expense (income)
Total deferred tax assets - net
Total deferred tax liabilities - net
Deferred tax asset and liabilities
in financial position
(Charged) credited to
profit or loss
2022
2021
2022
2021
885
981
806
292
203
23
85
(1)
(49)
3,225
1,220
144
468
895
1,110
631
388
183
22
72
(2)
(73)
3,226
1,228
179
675
(10)
(25)
175
(96)
20
1
13
1
24
103
33
(35)
(207)
71
134
217
111
64
(1)
-
1
17
614
128
(103)
100
(7)
(549)
542
(549)
(1,445)
(146)
(119)
115
777
(1,023)
4,117
(1,023)
(1,623)
(152)
(92)
(334)
598
(824)
3,824
(1,158)
178
6
(27)
490
164
(157)
600
(100)
(28)
(23)
(575)
80
(293)
(174)
As of December 31, 2022 and 2021 the aggregate amounts of temporary differences associated
with investments in subsidiaries and associated companies, for which deferred tax liabilities have
not been recognized were Rp23,915 billion and Rp25,810 billion, respectively. Realization of the
deferred tax assets is dependent upon the Group’s capability in generating future profitable
operations. Although realization is not assured, the Group believes that it is probable that these
deferred tax assets will be realized through reduction of future taxable income when temporary
differences reverse. The amount of deferred tax assets is considered realizable, however it can be
reduced if actual future taxable income is lower than estimates.
76
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
27. TAXATION (continued)
g. Administration
In October 2021, the Government also issued Law No.7/2021 on the Harmonization of Tax
Regulations, which, among other things, regulates the rates of income tax and VAT. Starting
January 1, 2022, the Group applies the income tax rate on employee taxable income in accordance
with paragraph (1) letter a of Article 17 Chapter III, and starting April 1 2022 the VAT rate changes
to 11%. The company ensures the readiness of the surrounding billing system, administrative and
legal aspects of transactions, and builds intensive coordination between units. concerned to
prepare for the implementation of these rules.
In February 2022, the Government issued Government Regulation No. 9/2022 concerning the
Second Amendment to Government Regulation No. 51/2008 concerning Income Tax on Income
from Construction Services Business. The company ensures administrative and legal aspects of
transactions and builds solid coordination between related units to prepare for the application of
the income tax rate rule for construction service businesses as stipulated in article 3 paragraph (1)
of the regulation.
In December 2022, the Government issued Government Regulation No. 55/2022 concerning
adjustments to regulations in the field of income tax. The provision of compensation in kind and/or
benefits since the 2022 tax year is a tax object for the recipient, and for the Company it can be
financed fiscally as long as it is a cost to earn, collect and maintain income (3M). The obligation to
withhold income tax for the provision of in-kind and/or benefits is enforced starting January 1, 2023.
In this regard, the Company needs to immediately identify the provision of employee benefits in
kind and/or enjoyment in accordance with what has been agreed by the Company to
employees/employee unions. Next is determining the tax treatment, both in Corporate Income Tax
and Article 21 Income Tax. Employees then prepares or adjusts the income tax withholding system
so that they can carry out appropriate and valid withholding obligation.
28. BASIC EARNINGS PER SHARE
Basic earnings per share is computed by dividing profit for the years attributable to owners of the
parent company amounting to Rp20,753 billion and Rp24,760 billion by the weighted average number
of shares outstanding during the period totaling 99,062,216,600 shares for the years ended December
31, 2022 and 2021, respectively. The weighted average number of shares takes into account the
weighted average effect of changes in treasury stock transaction during the year.
Basic earnings per share amounting to Rp209.49 and Rp249.94 (in full amount) for the years ended
December 31, 2022 and 2021, respectively. The Company does not have potentially dilutive financial
investments for the years ended December 31, 2022 and 2021.
29. CASH DIVIDENDS AND GENERAL RESERVE
Pursuant to the AGM of Stockholders of the Company as stated in Notarial Deed No. 37 dated
May 28, 2021 of Utiek R. Abdurachman, S.H., M.Li., M.Kn., the Company’s stockholders approved the
distribution of cash dividend and special cash dividend for 2020 amounting to Rp12,482 billion
(Rp126.01 per share) and Rp4,161 billion (Rp42.00 per share), respectively.
Pursuant to the AGM of Stockholders of the Company as stated in Notarial Deed No. 29 dated
May 27, 2022 of Ashoya Ratam, S.H., M.Kn., the Company’s stockholders approved the distribution
of cash dividend for 2021 amounting to Rp14,856 billion (Rp149.97 per share). The Company paid
cash dividend on July 1, 2022. Under the Limited Liability Company Law, the Company is required to
establish a statutory reserve amounting to at least 20% of its issued and paid-up capital. The balance
of the appropriated retained earnings of the Company as of December 31, 2022 and December 31,
2021 amounting to Rp15,337 billion, respectively.
77
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS
The details of pension and other post-employment benefit liabilities are as follows:
Notes
2022
2021
Pension benefit and other post-employment
benefit obligations
Pension benefit
The Company - funded
Defined pension benefit obligation
Additional pension benefit obligation
The Company - unfunded
Telkomsel
Others
Projected pension benefit obligations
Net periodic post-employment health care
benefit
Other post-employment benefit
Long service employee benefit
Obligation under the Labor Law
Total
30a.i.a
30a.i.a.i
30a.i.a.ii
30a.i.b
30a.ii
30b
30c
30d
30e
4,234
44
522
4,275
-
9,075
-
268
1
928
10,272
4,891
-
613
4,188
3
9,695
638
300
4
926
11,563
The details of net pension benefit expense recognized in the consolidated statements of profit or loss
and other comprehensive income is as follows:
Notes
2022
2021
Pension benefit cost
The Company - funded
Defined pension benefit obligation
Additional pension benefit obligation
The Company - unfunded
Telkomsel
Total periodic pension benefit cost
Net periodic post-employment health care
benefit cost
Other post-employment benefit cost
Long service employee benefit cost
Obligation under the Labor Law
Total
30a.i.a
30a.i.a.i
30a.i.a.ii
30a.i.b
30a.ii
24
24,30b
24,30c
24,30d
24,30e
577
37
58
596
1,268
213
25
1
78
1,585
732
0
74
331
1,137
263
23
3
254
1,680
78
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
The amounts recognized in OCI are as follows:
Notes
2022
2021
Defined benefit plan actuarial gain
The Company - funded
Defined pension benefit obligation
Additional pension benefit obligation
The Company - unfunded
Telkomsel
Others
Post-employment health care benefit cost
Other post-employment benefit
Obligation under the Labor Law
Sub-total
Deferred tax effect at the applicable tax rates
Defined benefit plan acturial gain -
net of tax
30a.i.a
30a.i.a.i
30a.i.a.ii
30a.i.b
30a.ii
30b
30c
30e
27f
467
(7)
55
218
1
851
14
13
1,612
(148)
1,464
1,123
0
82
(110)
(3)
1,032
2
42
2,168
(213)
1,955
The following table presents the changes in projected post-employment health care benefit provision,
changes in post-employment health care benefit plan assets, funded status of the post-employment
health care benefit plan, and net amount recognized in the Company’s consolidated statement of
financial position as of December 31, 2022 and 2021:
Funded
Defined pension benefit obligation
The Company
Telkomsel
Post-employment
health care benefit
The Company
Projected
pension
benefit
Pension
benefit
Projected
pension
benefit
Pension
benefit
Projected
post-
employment
health care health care
benefit
Post-
employment
benefit
Balance, January 1, 2022
Service costs
Interest costs (income)
Plan administration cost
Additional welfare benefits
Cost recognized in the consolidated
obligations plan assets obligations plan assets obligation plan assets
(12,778)
-
(933)
164
-
(18,947)
-
(1,347)
63
-
13,416
-
982
-
-
23,838
178
1,635
-
65
5,020
326
328
-
-
(832)
-
(58)
-
-
Total
9,717
504
607
227
65
statement of profit or loss
1,878
(1,284)
654
(58)
982
(769)
1,403
Actuarial (gain) loss on:
Experience adjustments
Changes in demographic assumptions
Changes in financial assumptions
Return on plan assets
(excluding amount included in
net interest expense)
Changes in asset ceiling
Cost recognized in OCI
Employer’s contributions
Pension plan participants’ contributions
Benefits paid from plan assets
Benefits paid by employer
Balance, December 31, 2022
Projected pension benefit
obligation at end of year
-
-
-
300
-
300
(719)
(19)
1,767
-
(18,902)
(737)
-
(30)
-
-
(767)
-
19
(1,767)
(65)
23,136
4,234
(1)
(1)
(67)
(186)
-
(255)
-
-
(291)
-
5,128
4,275
-
-
-
37
-
37
-
-
-
-
(853)
(730)
-
(136)
-
-
(866)
-
-
-
(654)
12,878
-
-
-
-
(1,468)
(1)
(233)
(69)
84
15
-
-
-
654
(12,878)
82
84
(1,536)
(719)
-
(291)
(65)
8,509
8,509
79
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
The following table presents the changes in projected post-employment health care benefit provision,
changes in post-employment health care benefit plan assets, funded status of the post-employment
health care benefit plan, and net amount recognized in the Company’s consolidated statement of
financial position as of December 31, 2022 and 2021 (continued):
Funded
Defined pension benefit obligation
The Company
Telkomsel
Post-employment
health care benefit
The Company
Projected
pension
benefit
Projected
pension
benefit
obligations plan assets obligations plan assets obligation
Pension
benefit
Pension
benefit
benefit
Balance, January 1, 2021
Service costs
Interest costs (income)
Plan administration cost
Additional welfare benefits
Cost recognized in the consolidated
25,103
269
1,577
-
80
(19,546)
-
(1,223)
60
-
4,651
84
299
-
-
(799)
-
(52)
-
-
Projected
post-
employment
health care health care
Post-
employment
benefit
plan assets
(13,036)
-
(860)
168
-
14,443
-
955
-
-
Total
10,816
353
696
228
80
statement of profit or loss
1,926
(1,163)
383
(52)
955
(692)
1,357
Actuarial (gain) loss on:
Experience adjustments
Changes in demographic assumptions
Changes in financial assumptions
(340)
(1,122)
-
-
-
-
Return on plan assets
(excluding amount included in
net interest expense)
Cost recognized in OCI
Employer’s contributions
Pension plan participants’ contributions
Benefits paid from plan assets
Benefits paid by employer
Balance, December 31, 2021
Projected pension benefit
obligation at end of year
339
339
(226)
(21)
1,670
-
(18,947)
-
(1,462)
-
21
(1,670)
(80)
23,838
4,891
324
-
(233)
-
91
-
-
-
(105)
5,020
4,188
-
-
-
(105)
-
(1,289)
-
-
-
(121)
(1,122)
(1,522)
19
19
-
-
-
-
(832)
-
(1,394)
-
-
(588)
-
13,416
638
362
362
720
(2,045)
-
-
588
-
(12,778)
(226)
-
-
(185)
9,717
9,717
The following table presents the changes in projected post-employment health care benefit provision,
changes in post-employment health care benefit plan assets, funded status of the post-employment
health care benefit plan, and net amount recognized in the Company’s consolidated statement of
financial position as of December 31, 2022 and 2021:
The Company
Other
The Company
and its subsidiaries
Additional
pension benefit
post-employment Long service
benefit
obligations
employee
benefit
300
8
17
25
(14)
(43)
268
4
1
-
1
-
(4)
1
Obligations
under
the labor law
Total
926
1,843
78
-
78
(13)
(63)
928
148
51
199
(75)
(204)
1,763
Unfunded obligations
Balance, January 1, 2022
Service costs
Interest costs
Cost recognized in the consolidated
statement of profit or loss
Actuarial (gain) loss recognized in OCI
Benefits paid by employer
Balance, December 31, 2022
613
24
34
58
(55)
(94)
522
-
37
-
37
7
-
44
80
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
The following table presents the changes in projected post-employment health care benefit provision,
changes in post-employment health care benefit plan assets, funded status of the post-employment
health care benefit plan, and net amount recognized in the Company’s consolidated statement of
financial position as of December 31, 2022 and 2021 (continued):
The Company
The Company
and its subsidiaries
Additional
pension benefit
obligations
Other
post-employment
benefit
obligations
Long service
employee
benefit
Obligations
under
the labor law
-
-
-
-
6
(6)
-
-
-
367
7
16
23
-
-
(2)
(88)
300
1
3
-
3
-
-
-
-
4
777
254
-
Total
2,107
289
65
254
354
-
-
(42)
(63)
926
6
(6)
(126)
(492)
1,843
Balance, January 1, 2021
Unfunded
962
Service costs
Interest costs
Cost recognized in the consolidated
statement of profit or loss
Fair value of pension plan assets at
beginning of year
Changes in asset ceiling
Actuarial gain recognized in OCI
Benefits paid by employer
Balance, December 31, 2021
25
49
74
-
-
(82)
(341)
613
a. Pension benefit costs
i. The Company
(a) Funded pension plan
(i) Defined pension benefit obligation
The Company sponsors a defined benefit pension plan for employees with permanent
status prior to July 1, 2002. The plan is governed by the pension laws in Indonesia and
managed by Telkom Pension Fund (“Dana Pensiun Telkom” or “Dapen”). Pension Fund
Management in accordance with the Pension Fund and Investment Directives
Regulations determined by the Founder is carried out by the Board of Management.
The Board of Management is monitored by the Oversight Board consisting of
representatives of the Company and participants.
The pension benefits are paid based on the participating employees’ latest basic salary
at retirement and the number of years of their service. The participating employees
contribute 18% (before March 2003: 8.4%) of their basic salaries to the pension fund.
The Company made contributions to the pension fund amounted to Rp719 billion and
Rp226 billion, for the year ended December 31, 2022 and 2021, respectively.
Risks exposed to defined benefit programs are risks such as asset volatility and
changes in bond yields. The project liabilities are calculated using a discount rate that
refers to the level of government bond yields, if the return on program assets is lower,
it will result in a program deficit. A decrease in the yield of government bonds will
increase the program liabilities, although this will be offset in part by an increase in the
value of the program bonds held. The Company ensures that the investment position is
set within the framework of asset-liability matching ("ALM") that has been formed to
achieve long-term results that are in line with the liabilities in the defined benefit pension
plan. Within the ALM framework, the Company's objective is to adjust its pension assets
and liabilities by investing in a well diversified portfolio to produce an optimal rate of
return, taking into account the level of risk. Investment in the program has been well
diversified, so that one investment's poor performance will not have a material impact
on all asset groups.
81
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
a. Pension benefit costs (continued)
i. The Company (continued)
(a) Funded pension plan (continued)
(i) Defined pension benefit obligation (continued)
As of December 31, 2022 and 2021, plan assets consist of:
Cash and cash equivalents
Equity instruments*:
Financials
Consumer non-cyclicals
Basic material
Infrastructures
Energy
Technology
Industrials
Consumer cyclicals
Properties and real estate
Healthcare
Transportation and logistic
Equity-based mutual fund
Fixed income instruments:
Corporate bonds
Government bonds
Fixed income mutual funds
Midterm notes
Asset-backed securities
Sukuk
Non-public equity:
Direct placement
Property
Others
Total
2022
Quoted in
active market Unquoted
2021
Quoted in
active market Unquoted
1,320
1,638
505
271
639
141
89
315
115
98
208
8
410
-
7,884
-
-
-
-
-
-
-
13,641
-
-
-
-
-
-
-
-
-
-
-
-
-
3,117
-
122
100
30
1,090
368
187
247
5,261
762
1,571
558
300
838
118
43
421
112
143
202
16
321
-
7,736
161
-
-
-
-
-
-
13,302
-
-
-
-
-
-
-
-
-
-
-
-
-
4,558
-
-
-
-
-
355
186
545
5,644
*Since January 25, 2021, the Jakarta Stock Industrial Classification (JASICA) has been officially replaced by the IDX Industrial
Classification (IDX - IC)
Pension plan assets include Series B shares issued by the Company with fair values
totalling to Rp336 billion and Rp409 billion, representing 1.78% and 2.16% of total plan
assets as of December 31, 2022 and 2021, respectively, and bonds issued by the
Company with fair value totalling to Rp348 billion and Rp356 billion representing 1.84%
and 1.88% of total plan assets as of December 31, 2022 and 2021, respectively.
The expected return is determined based on market expectation for returns over the
entire life of the obligation by considering the portfolio mix of the plan assets. The actual
return on plan assets was Rp984 billion and Rp822 billion for the years ended
December 31, 2022 and 2021, respectively. Based on the Company’s policy issued on
January 14, 2014 regarding Dapen’s Funding Policy, the Company will not contribute
to Dapen when Dapen’s Funding Sufficiency Ratio (“FSR”) is above 105%. Based on
Dapen’s financial statement as of December 31, 2022, Dapen’s FSR is below 105%.
Therefore, the Company will contribute to the defined benefit pension plan.
82
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
a. Pension benefit costs (continued)
i. The Company (continued)
(a) Funded pension plan (continued)
(i) Defined pension benefit obligation (continued)
Based on the Company Regulations issued on September 30, 2022, regarding the
Pension Fund Regulations from the Telkom Pension Fund, the Company stipulates that
retirees who quit other than because of Disciplinary Punishment, Early Retirement, and
at their own request and receive Pension Benefits of less than Rp1 million per month
are given increase in monthly Pension Benefits to Rp1 million. In 2022 and 2021, the
Company provided employee welfare benefit to pensioners and pension beneficiaries
who entered their retirement period before June 30, 2002 amounting to Rp65 billion and
Rp80 billion.
The actuarial valuation for the defined benefit pension plan was performed based on
the measurement date as of December 31, 2022 and 2021, with reports dated
March 18, 2023 and March 24, 2022, respectively, by KKA I Gde Eka Sarmaja, FSAI
and Partner and KKA Santhi Devi and Ardianto Handoyo, an independent actuary in
association with Willis Towers Watson (“WTW”). The principal actuarial assumptions
used by the independent actuary for years December 31, 2022 and 2021 are as follows:
Discount rate
Rate of compensation increases
Indonesian mortality table
(ii) Additional pension benefit obligation
2022
2021
7.25%
8.00%
2019
7.00%
8.00%
2019
Based on the Company Regulations issued on September 30, 2022, regarding the
Regulations on Pension Funds from Telkom Pension Funds, the Company organizes a
Defined Contribution Other Benefit Program (“PMLIP”) in the form of Additional Benefits.
PMLIP participants are entitled to receive Periodic Pension Benefits every month in
accordance with the provisions in the Pension Fund Regulations. Additional Benefit
Funds are sourced from Employer Additional Benefit contributions and provision for
investment development proceeds if the FSR is achieved above 102% and the rate of
Return On Investment (“ROI”) is above the actuarial interest rate for funding. The
employer's additional benefit contribution for each PMLIP participant is set at Rp120
thousand for annual contribution period which is calculated proportionally according to
the amount received.
The actuarial valuation for additional pension benefit plan was performed based on the
measurement date as of December 31, 2022 and 2021, with reports dated March 18,
2023 and March 24, 2022, respectively, by KKA I Gde Eka Sarmaja, FSAI and Partner
and KKA Santhi Devi and Ardianto Handoyo, an independent actuary in association with
WTW. The principal actuarial assumptions used by the independent actuary for years
December 31, 2022 and 2021 are as follows:
Discount rate
Indonesian mortality table
2022
7.25%
2019
2021
7.00%
2019
Additional pension benefit obligation have been set aside since 2018 according to the
approval by the Oversight Board. As of December 31, 2022, the additional pension
benefit obligation have been fully paid to the pension recipients and no additional
obligations have been set aside because the requirements for recognizing additional
benefits as mentioned above have not been fulfilled.
83
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
a. Pension benefit costs (continued)
i. The Company (continued)
(b) Unfunded pension plan
The Company sponsors unfunded defined benefit pension plans and a defined contribution
pension plan for its employees. The defined contribution pension plan is provided to
employees with permanent status hired on or after July 1, 2002. The plan is managed by
Financial Institutions Pension Fund (Dana Pensiun Lembaga Keuangan or “DPLK”). The
Company’s contribution to DPLK is determined based on a certain percentage of the
participants’ salaries and amounted to Rp48 billion and Rp44 billion, for the years ended
December 31, 2022 and 2021, respectively.
Since 2007, the Company has provided pension benefit based on uniformization for both
participants prior to and from April 20, 1992 effective for employees retiring beginning
February 1, 2009. In 2010, the Company replaced the uniformization with Manfaat Pensiun
Sekaligus (“MPS”). MPS is given to those employees reaching retirement age, upon death
or upon becoming disabled starting from February 1, 2009.
The Company also provides benefits to employees during a pre-retirement period in which
they are inactive for 6 months prior to their normal retirement age of 56 years, known as
pre-retirement benefits (Masa Persiapan Pensiun or “MPP”). During the pre-retirement
period, the employees still receive benefits provided to active employees, which include,
but are not limited to, regular salary, health care, annual leave, bonus, and other benefits.
Since April 1, 2012, the employee is required to file a request for MPP and if the employee
does not file the request, such employee is required to work until the retirement date.
The actuarial valuation for the defined benefit pension plan was performed, based on the
measurement date as of December 31, 2022 and 2021, with reports dated March 8, 2023
and March 24, 2022, respectively, by KKA I Gde Eka Sarmaja, FSAI and Partner and KKA
Santhi Devi and Ardianto Handoyo, an independent actuary in association with WTW. The
principal actuarial assumptions used by the independent actuary for the years ended
December 31, 2022 and 2021 are as follows:
Discount rate
Rate of compensation increases
Indonesian mortality table
ii. Telkomsel
2022
7.00%-7.25%
6.10%-8.00%
2019
2021
5.75%-7.00%
6.10%-8.00%
2019
Telkomsel provides a defined benefit pension plan to its employees. Under this plan, employees
are entitled to pension benefits determined based on their latest basic salary or take-home pay
(exclusive of functional allowances) and number of service years. The plan is managed by PT
Asuransi Jiwasraya (Persero) (“Jiwasraya”), a state-owned life insurance company, through an
annuity insurance contract. Until 2004, employees contributed 5% of their monthly salaries to
the plan, while Telkomsel contributed the remaining part required under the plan. Beginning in
2005, Telkomsel has been taking the responsibility for the full amount of the contributions.
84
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
a. Pension benefit costs (continued)
ii. Telkomsel (continued)
On April 23, 2021, Telkomsel and Jiwasraya agreed to terminate the insurance program contract
(as mentioned above) and entered into restructuring agreement. The agreement replaced the
benefit plan from annuities to lumpsum benefit. Based on this agreement, both parties agreed
to determine the Cash Value (“CV”) at the termination date which divided into CV for active
participant and passive participant amounting to Rp857 billion and Rp73 billion, respectively.
There was a 5% cut from CV for active participant, hence the 95% of Rp857 billion (or equal to
Rp814 billion) plus Rp73 billion will be the amount that subsequently taken over by IFG Life
when the agreement with IFG Life become effective and accordingly, the restructuring
agreement will be terminated. On December 31, 2021, the CV of active participant amounted to
Rp853 billion.
The actuarial valuation for the defined benefit pension plan was performed based on the
measurement date as of December 31, 2022 and 2021 with reports dated February 28, 2023
and March 24, 2022, respectively, by KKA Halim and Partner, an independent actuary in
association with Milliman, and KKA Santhi Devi and Ardianto Handoyo, an independent actuary
in association with WTW. The principal actuarial assumptions used by the independent actuary
as of December 31, 2022 and 2021, are as follows:
Discount rate
Rate of compensation increases
Indonesian mortality table
b. Post-employment health care benefit cost
2022
2021
7.15%
8.00%
2019
7.00%
8.00%
2019
The Company provides post-employment health care benefits to all of its employees hired before
November 1, 1995 who have worked for the Company for 20 years or more when they retire, and
to their eligible dependents. The requirement to work for 20 years does not apply to employees
who retired prior to June 3, 1995. The employees hired by the Company starting from November
1, 1995 are no longer entitled to this plan. The plan is managed by Yayasan Kesehatan Telkom
(“Yakes Telkom”).
The defined contribution post-employment health care benefit plan is provided to employees with
permanent status hired on or after November 1, 1995 or employees with terms of service less than
20 years at the time of retirement. The Company did not make contributions to Yakes Telkom for
the years ended December 31, 2022 and 2021.
85
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
b. Post-employment health care benefit cost (continued)
As of December 31, 2022 and 2021, plan assets consists of:
Cash and cash equivalents
Equity instruments*:
Financials
Consumer non-cyclicals
Basic material
Infrastructures
Energy
Technology
Industrials
Consumer cyclicals
Properties and real estate
Healthcare
Transportation and logistic
Equity-based mutual funds
Fixed income instruments:
Government obligations
Fixed income mutual funds
Unlisted shares:
Private placement
Total
2022
Quoted in
active market Unquoted
2021
Quoted in
active market Unquoted
1,085
1,368
114
264
598
221
63
185
457
95
233
3
1,035
82
6,761
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
527
1,254
100
256
574
171
24
274
483
93
232
5
569
-
7,858
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,564
398
398
-
12,420
358
358
*Since January 25, 2021, the Jakarta Stock Industrial Classification (JASICA) has been officially replaced by the IDX Industrial Classification (IDX - IC)
Yakes Telkom plan assets also include Series B shares issued by the Company with fair value
totalling Rp228 billion and Rp229 billion, representing 1.76% and 1.79% of total plan assets as of
December 31, 2022 and 2021, respectively. The expected return is determined based on market
expectation for the returns over the entire life of the obligation by considering the portfolio mix of
the plan assets. The actual return on plan assets was Rp839 billion and Rp329 billion for the years
ended December 31, 2022 and 2021, respectively.
The actuarial valuation for the post-employment health care benefits plan was performed based on
the measurement date as of December 31, 2022 and 2021, with reports dated March 8, 2023 and
March 24, 2022, respectively, by KKA I Gde Eka Sarmaja, FSAI and Partner and KKA Santhi Devi
and Ardianto Handoyo, an independent actuary in association with WTW. The principal actuarial
assumptions used by the independent actuary as of December 31, 2022 and 2021 are as follows:
Discount rate
Health care costs trend rate assumed for next year
Ultimate health care costs trend rate
Year that the rate reaches the ultimate trend rate
Indonesian mortality table
2022
2021
7.25%
7.00%
7.00%
2022
2019
7.50%
7.00%
7.00%
2021
2019
86
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
c. Other post-employment benefits cost
The Company provides other post-employment benefits in the form of cash paid to employees on
their retirement or termination. These benefits consist of final housing allowance (Biaya Fasilitas
Perumahan Terakhir or “BFPT”) and home passage leave (Biaya Perjalanan Pensiun dan
Purnabhakti or “BPP”) and death allowance (Meninggal Dunia or “MD” allowance) is given to
employees who have passed away with an amount of 12 times from the last salary.
The actuarial valuation for the other post-employment benefits plan was performed based on
measurement date as of December 31, 2021 and 2020, with reports dated March 8, 2023 and
March 24, 2022, respectively, by KKA I Gde Eka Sarmaja, FSAI and Partner and KKA Santhi
Devi and Ardianto Handoyo, an independent actuary in association with WTW. The principal
actuarial assumptions used by the independent actuary as of December 31, 2022 and 2021, are
as follows:
Discount rate
Indonesian mortality table
d. Long service employee benefits
2022
2021
6.75%
2019
6.25%
2019
The company provides long service employee benefits to employee hired before July 1, 2002 and
have a service period of more than 30 years and retired after September 19, 2019. Total obligation
recognized as of December 31, 2022 and 2021 amounted
Rp4 billion, respectively. The related long service employee benefits cost charged to expense
amounted to Rp1 billion and Rp3 billion for the years ended December 31, 2022 and 2021,
respectively.
to Rp1 billion and
e. Obligation under the Labor Law
Under Law No. 11 Year 2020, the Group is required to provide minimum pension benefits, if not
covered yet by the sponsored pension plans, to its employees upon retirement. Total obligation
recognized as of December 31, 2022 and 2021 amounted
to Rp928 billion and
Rp926 billion, respectively. The related pension employee benefits cost charged to expense
amounted to Rp78 billion and Rp254 billion for the years ended December 31, 2022 and 2021,
respectively. The actuarial gain in OCI amounted to Rp13 billion and Rp42 billion for the years
ended December 31, 2022 and 2021, respectively.
87
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
f. Maturity Profile of Defined Benefit Obligation (“DBO”)
The timing of benefits payments and weighted average duration of DBO for 2022 and 2021 are
as follows:
Expected Benefits Payment
The Company
Funded
Defined
Additional
pension benefit pension benefit
Time Period
obligation
obligation
Unfunded Telkomsel
Post-employment Other post- Post-employment
employment
benefits
benefits
UUCK (Telkom)
health care
benefits
2022
Within next 10 years
Within 10-20 years
Within 20-30 years
Within 30-40 years
Within 40-50 years
Within 50-60 years
Within 60-70 years
Within 70-80 years
Weighted average
duration of DBO
2021
Within next 10 years
Within 10-20 years
Within 20-30 years
Within 30-40 years
Within 40-50 years
Within 50-60 years
Within 60-70 years
Within 70-80 years
Weighted average
duration of DBO
21,232
16,485
10,414
4,209
882
77
2
-
40
31
18
6
1
-
-
-
705
229
430
96
-
-
-
-
5,111
11,178
7,827
473
-
-
-
-
8,092
12,746
12,019
5,491
970
59
6
1
324
123
83
6
-
-
-
-
59
414
497
80
-
-
-
-
8.48 years
8.48 years
5.52 years 9.45 years
12.40 years
4.62 years
11.69 years
20,809
23,096
21,308
16,537
3,965
2,803
16
-
-
-
-
-
-
-
-
-
691
92
85
17
-
-
-
-
4,224
10,849
8,385
901
-
-
-
-
5,959
6,697
5,117
2,025
259
1
-
-
357
121
92
5
-
-
-
-
15
14
1
-
-
-
-
-
10.50 years
10.50 years
5.75 years 10.30 years
14.13 years
4.88 years
7.41 years
g. Sensitivity Analysis
As of December 31, 2022 and 2021, 1% change in discount rate and rate of compensation would
have effect on DBO, are as follows:
Sensitivity
2022
Funded:
Defined pension benefit obligation
Unfunded
Telkomsel
Post-employment health care benefits
Other post-employment benefits
Post-employment benefits UUCK (Telkom)
2021
Funded:
Defined pension benefit obligation
Unfunded
Telkomsel
Post-employment health care benefits
Other post-employment benefits
Post-employment benefits UUCK (Telkom)
Discount Rate
Rate of Compensation
1% Increase
1% Decrease
1% Increase
1% Decrease
Increase (decrease) in amounts Increase (decrease) in amounts
(1,948)
(24)
(430)
(1,413)
(12)
(8)
(2,040)
(27)
(434)
(1,605)
(13)
(1)
2,291
27
491
1,703
13
10
2,419
30
465
1,964
14
1
268
29
536
1,629
-
27
1,571
33
455
1,985
-
6
255
(27)
(477)
1,380
-
(24)
(1,439)
(30)
(429)
(1,686)
-
(3)
88
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
30. PENSION AND OTHER POST-EMPLOYMENT BENEFITS (continued)
g. Sensitivity Analysis (continued)
The sensitivity analysis has been determined based on a method that extrapolates the impact on
DBO as a result of reasonable changes in key assumptions occurring at the end of the reporting
period.
The sensitivity results above determine the individual impact on the Plan’s DBO at the end of the
year. In reality, the Plan is subject to multiple external experience items which may move the DBO
in similar or opposite directions, and the Plan’s sensitivity to such changes can vary over time.
There are no changes in the methods and assumptions used in preparing the sensitivity analysis
from the previous period.
28.
31. LONG SERVICE AWARDS (“LSA”) PROVISIONS
Telkomsel and Telkomsat provide certain cash awards or certain number of days leave benefits to
their employees based on the employees’ length of service requirements, including LSA and Long
Service Leaves (“LSL”). LSA are either paid at the time the employees reach certain years of
employment, or at the time of termination. LSL are either certain number of days leave benefit or cash,
subject to approval by management, provided to employees who meet the requisite number of years
of service and reach a certain minimum age.
The obligation with respect to these awards which was determined based on an actuarial valuation
using the Projected Unit Credit method amounted to Rp1,031 billion and Rp1,206 billion as of
December 31, 2022 and 2021, respectively. The related benefit costs charged to expense amounted
Rp92 billion and Rp153 billion for the years ended December 31, 2022 and 2021, respectively
(Note 24).
89
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
32. RELATED PARTIES TRANSACTIONS
a. Nature of relationships and accounts/transactions with related parties
Details of the nature of relationships and accounts/transactions with significant related parties are as
follows:
Related parties
The Government
Ministry of Finance
Nature of relationships parties
Majority stockholder
Nature of accounts/transactions
Internet and data service revenues, other
State-owned enterprises
Entity under common control
Indosat
Entity under common control
telecommunication service revenues, finance
costs, and investment in financial instruments
Internet and data service revenues, other
telecommunication services revenues,
operating expenses, and purchase of property
and equipments
Interconnection revenues, leased lines
revenues, satellite transponder usage
revenues, interconnection expenses,
telecommunication facilities usage expenses,
operating and maintenance expenses, and
usage of data communication network system
expenses
PT Pertamina (Persero) (“Pertamina”) Entity under common control
Internet and data service revenues, and other
State-owned banks
Bank Mandiri
Entity under common control
Entity under common control
telecommunication service revenues
Finance income and finance costs
Internet and data service revenues, other
telecommunication service revenues, finance
income, and finance costs
BNI
BRI
BTN
Entity under common control
Internet and data service revenues, other
telecommunication service revenues, finance
income, and finance costs
Entity under common control
Internet and data service revenues, other
telecommunication service revenues, finance
income, and finance costs
Entity under common control
Internet and data service revenues, other
telecommunication service revenues, and
finance income
PT Pegadaian (Persero)
Entity under common control
Internet and data service revenues, and other
(“Pegadaian”)
telecommunication service revenues
PT Perkebunan Nusantara III
Entity under common control
Internet and data service revenues, and other
(Persero) (“PTPN III”)
telecommunication service revenues
PT Kereta Api Indonesia (Persero)
Entity under common control
Internet and data service revenues, and other
(“KAI”)
telecommunication service revenues
PT Kimia Farma (Persero) (“Kimia
Entity under common control
Internet and data service revenues, and other
Farma”)
PT Perusahaan Listrik Negara
Entity under common control
(“PLN”)
telecommunication service revenues
Internet and data service revenues, other
telecommunication service revenues, and
electricity expenses
PT Asuransi Jasa Indonesia
Entity under common control
Fixed assets insurance expenses and personal
(“Jasindo”)
insurance expenses
PT Inti Telekomunikasi Indonesia
Entity under common control
Purchase of property and equipments
(Persero) (“INTI”)
Bahana TCW
Sarana Multi Infrastruktur
Omni Inovasi Indonesia
Finarya
Padi UMKM
Entity under common control
Entity under common control
Associated company
Mutual funds
Other borrowing and finance costs
Distribution of SIM cards and pulse reload
Associated company
Other related entities
voucher
Marketing expenses and distribution of SIM cards
and pulse reload voucher
Operational and maintenance expenses,
collection fees, training expenses, internal
security expenses, research and development
expenses, printing expenses, meeting
expenses, general and other administrative
expenses, promotion expenses, advertising
expenses, sales fees, customer education
expenses, and marketing expenses
Directors
Commissioners
Key management personnel
Supervisory personnel
Honorarium and facilities
Honorarium and facilities
The outstanding balances of trade receivables and payables at year-end are unsecured and interest-
free and the settlement occurs in cash. There have been no guarantees provided or received for any
related party receivables or payables. As of December 31, 2022 and 2021 the Group recorded a
(decrease) increase impairment loss from trade receivables of related party amounted to Rp(57) billion
and Rp82 billion. Impairment assessment is undertaken each financial year by examining the current
status of existing receivables and historical collection experience.
90
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
32. RELATED PARTIES TRANSACTIONS (continued)
b. Significant transactions with related parties
Revenues
Majority Stockholder
Ministry of Finance
Entities under common control
Indosat
Pertamina
BNI
Bank Mandiri
Pegadaian
PLN
KAI
PTPN III
Kimia Farma
BRI
Others (each below Rp100 billion)
Sub-total
Other related entities
Associated companies
Total
Expenses
Entities under common control
PLN
Indosat
Jasindo
Others (each below Rp100 billion)
Sub-total
Other related entities
Padi UMKM
Others (each below Rp100 billion)
Sub-total
Associated companies
Finarya
Others (each below Rp100 billion)
Sub-total
Total
Finance income
Entities under common control
State-owned banks
Total
Finance cost
Majority stockholder
Ministry of Finance
Entities under common control
State-owned banks
Sarana Multi Infrastruktur
Total
2022
% of total
revenues
Amount
2021
% of total
revenues
Amount
199
1,923
752
493
180
160
158
143
114
107
104
743
4,877
52
6
5,134
0.14
1.31
0.51
0.33
0.12
0.11
0.11
0.10
0.08
0.07
0.07
0.50
3.31
0.04
0.00
3.49
212
1,056
631
404
212
148
153
84
99
120
341
944
4,192
33
16
4,453
0.15
0.74
0.44
0.28
0.15
0.10
0.11
0.06
0.07
0.08
0.24
0.66
2.93
0.02
0.01
3.11
2022
% of total
expenses
Amount
2021
% of total
expenses
Amount
2,473
537
296
228
3,534
626
98
724
110
37
147
4,405
2.43
0.53
0.29
0.22
3.47
0.62
0.10
0.72
0.11
0.04
0.15
4.34
2,349
467
385
208
3,409
269
115
384
125
344
469
4,262
2.37
0.47
0.39
0.21
3.44
0.27
0.12
0.39
0.13
0.34
0.47
4.30
2022
2021
Amount
% of total
finance income
Amount
% of total
finance income
459
459
52.28
52.28
348
348
62.37
62.37
2022
Amount
% of total
finance cost
Amount
2021
% of total
finance cost
10
1,004
109
1,123
91
0.25
24.89
2.70
27.84
17
1,247
192
1,456
0.39
28.57
4.40
33.36
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
32. RELATED PARTIES TRANSACTIONS (continued)
b. Significant transactions with related parties (continued)
Purchase of property
and equipments
Entities under common control
INTI
Others
Total
Distribution of SIM
card and voucher
Associated companies
Omni Inovasi Indonesia
Finarya
Total
2022
2021
Amount
% of total
purchases
Amount
% of total
purchases
117
4
121
0.34
0.01
0.35
104
309
413
0.34
1.02
1.36
2022
% of total
revenues
Amount
2021
% of total
revenue
Amount
981
141
1,122
0.67
0.10
0.77
959
-
959
0.67
-
0.67
c. Balance of accounts with related parties
2022
% of total
assets
Amount
Cash and cash equivalents
(Note 3)
Other current financial
asset (Note 4)
Trade receivables - net
(Note 5)
Contract assets
Majority stockholder
Government
Entities under common control
Associated companies
Other related entities
Total
Other current asset
Other non-current asset
Trade payables (Note 15)
Majority stockholder
Ministry of Finance
Entities under common control
State-owned enterprises
Indosat
Others
Sub-total
Other related entities
Total
23,328
400
1,620
24
248
1
1
274
98
15
8.48
0.15
0.59
0.01
0.09
0.00
0.00
0.10
0.04
0.01
2021
Amount
29,896
329
961
7
374
1
-
382
49
25
% of total
assets
10.79
0.12
0.35
0.00
0.13
0.00
-
0.13
0.02
0.01
2022
2021
Amount
% of total
liabilities
Amount
% of total
liabilities
0.00
0.16
0.11
0.03
0.30
0.05
0.35
8
317
144
23
484
5
497
0.01
0.24
0.11
0.02
0.37
0.00
0.38
0
197
140
37
374
57
431
92
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
32. RELATED PARTIES TRANSACTIONS (continued)
c. Balance of accounts with related parties (continued)
2022
2021
Amount
% of total
liabilities
Amount
% of total
liabilities
Accrued expenses
Majority stockholder
Government
Entities under common control
State-owned enterprises
State-owned banks
Others
Sub-total
Total
Contract liabilities
Majority stockholder
Government
Entities under common control
State-owned enterprises
Others
Sub-total
Associated companies
Other related entities
Total
1
57
74
2
133
134
34
170
0
170
2
3
209
Customer deposits
Short-term bank loans (Note 18)
Two-step loans (Note 19a)
Long-term bank loans (Note 19c)
Other borrowings (Note 19d)
19
4,462
209
11,284
1,314
d. Significant agreements with related parties
i.
The Government
0.00
0.05
0.06
0.00
0.11
0.11
0.03
0.13
0.00
0.13
0.00
0.00
0.16
0.02
3.54
0.17
8.96
1.04
3
81
40
7
128
131
19
228
1
229
2
1
251
19
1,578
355
17,630
2,605
0.00
0.06
0.03
0.01
0.10
0.10
0.01
0.17
0.00
0.17
0.00
0.00
0.18
0.01
1.20
0.27
13.38
1.98
The Company obtained two-step loans from the Government (Note 19a).
ii.
Indosat
The Company has an agreement with Indosat to provide international telecommunications
services to the public.
The Company has also entered into an interconnection agreement between the Company’s
fixed line network (Public Switched Telephone Network or “PSTN”) and Indosat’s Global
System for Mobile (“GSM”) cellular telecommunications network in connection with the
implementation of Indosat Multimedia Mobile services and the settlement of related
interconnection rights and obligations.
The Company also has an agreement with Indosat for the interconnection of Indosat's GSM
mobile cellular telecommunications network with the Company's PSTN, which enable each
party’s customers to make domestic calls between Indosat’s GSM mobile network and the
Company’s fixed line network, as well as allowing Indosat’s mobile customers to access the
Company’s IDD service by dialing “007”.
93
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
32. RELATED PARTIES TRANSACTIONS (continued)
d. Significant agreements with related parties (continued)
ii.
Indosat (continued)
The Company has been handling customer billings and collections for Indosat. Indosat is
gradually taking over the activities and performing its own direct billing and collection. The
Company has received compensation from Indosat computed at 1% of the collections made
by the Company starting from January 1, 1995, as well as the billing process expenses which
are fixed at a certain amount per record. On December 11, 2008, the Company and Indosat
agreed to implement IDD service charge tariff which already took into account the
compensation for billing and collection. The agreement is valid and effective in the current year
and can be applied until a new agreement becomes available.
On December 18, 2017, the Company and Indosat signed amendments to the interconnection
agreements for the fixed line networks (local, long distance direct connection and international)
and mobile network for the implementation of the cost-based tariff obligations under the MoCI
Regulation No.8/Year 2006. These amendments took effect starting on January 1, 2018.
Telkomsel also entered into an agreement with Indosat for the provision of international
telecommunications services to its GSM mobile cellular customers.
The Company provides leased lines to Indosat and its subsidiaries, namely PT Indosat Mega
Media and PT Aplikanusa Lintasarta (“Lintasarta”). The leased lines can be used by these
companies for telephone, telegraph, data, telex, facsimile, or other telecommunication
services.
iii. Others
The Company entered into an agreement with Lintasarta for the use of satellite transponders
or the Company's subscribed circuit telecommunication satellite frequency channels.
e. Remuneration of key management and supervisory personnel
Key management personnel consists of the Directors of the Company and supervisory personnel
consists of Board of Commissioners.
The Company provides remuneration in the form of salaries/honorarium and facilities to support
the governance and oversight duties of the Board of Commissioners and the leadership and
management duties of the Directors. The total of such remuneration is as follow:
2022
2021
Board of Directors
Board of Commissioners
Amount
401
164
% of total
expenses
Amount
% of total
expenses
0.39%
0.16%
347
140
0.35%
0.14%
The amounts disclosed in the table are the amounts recognized as an expense during the reporting
periods.
94
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
33. OPERATING SEGMENTS
The Group has four primary reportable segments, namely mobile, consumer, enterprise, and WIB. The
mobile segment provides mobile voice, SMS, value added services, and mobile broadband. The
consumer segment provides Indihome services (bundled service of fixed wireline, pay TV, and
internet) and other telecommunication services to home customers. The enterprise segment provides
end-to-end solution to corporate and institutions. The WIB segment provides interconnection services,
leased lines, satellite, Very Small Aperture Terminal (“VSAT”), broadband access, information
technology services, data, and internet services to other licensed operator companies and institutions.
Other segment provides digital content products (music and games), big data, Business to Business
(“B2B”) Commerce, and financial services to individual and corporate customers. There is no operating
segments that have been aggregated to form the reportable segments.
Management monitors the operating results of the business units separately for the purpose of
decision-making about resource allocation and performance assessment. Segment performance is
evaluated based on operating profit or loss and is measured consistently with operating profit or loss
in the consolidated financial statements. However, the financing activities and income taxes are
managed on a group basis and are not separately monitored and allocated to operating segments.
Segment revenues dan expenses include transactions between operating segments and are
accounted at prices that management believes represent market prices.
Mobile
Consumer
Enterprise
WIB
Others
Total
segment
Adjustment
and
Total
elimination consolidated
2022
Segment result
Revenues
External revenues
Inter-segment revenues
Total segment revenues
Segment results
Other information
Capital expenditures
Depreciation and amortization
Provision recognized in
current year
Segment result
Revenues
External revenues
Inter-segment revenues
Total segment revenues
Segment results
Other information
Capital expenditures
Depreciation and amortization
Provision recognized in
current year
85,493
3,344
88,837
26,122
(12,343)
(21,028)
26,354
195
26,549
7,579
(9,038)
(6,738)
19,161
24,646
43,807
15,442
19,658
35,100
239
2,486
2,725
146,689
50,329
197,018
617
(50,329)
(49,712)
147,306
-
147,306
831
8,925
(1,063)
42,394
(6,055)
36,339
(128)
(434)
(45)
34
(5,983)
(3,999)
(6,612)
(5,805)
(5)
(19)
(5)
(33,981)
(37,589)
(175)
4,334
(34,156)
(33,255)
(578)
11
(567)
Mobile
Consumer
Enterprise
WIB
Others
Total
segment
Adjustment
and
elimination
Total
consolidated
2021
84,267
3,097
87,364
34,435
24,930
187
25,117
5,894
19,141
22,395
41,536
14,255
18,072
32,327
205
2,395
2,600
142,798
46,146
188,944
412
(46,146)
(45,734)
143,210
-
143,210
(307)
9,192
199
49,413
(5,735)
43,678
(10,548)
(20,333)
(10,444)
(6,566)
(4,514)
(3,909)
(4,756)
(4,702)
(99)
(285)
(13)
5
(13)
(20)
(33)
(30,275)
(35,530)
(66)
3,714
(30,341)
(31,816)
(425)
(49)
(474)
Adjustments and eliminations:
a. Revenue reconciliation
Total segment revenues
Revenue from other non-operating segments
Inter-segment elimination
Consolidated revenues
2022
2021
197,018
617
(50,329)
147,306
188,944
412
(46,146)
143,210
95
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
33. OPERATING SEGMENTS (continued)
b. Segment result reconciliation
Total segment results
Loss from other non-operating segments
Adjustment and inter-segment elimination
Finance income
Finance cost
Share of loss of long-term investment in associates
Consolidated profit before income tax
c. Capital expenditure reconciliation
Total segment capital expenditure
Capital expenditure from
other non-operating segments
Consolidated capital expenditure
d. Depreciation and amortization reconciliation
Total segment depreciation and amortization
Depreciation and amortization from
other non-operating segments
Adjustment and inter-segment elimination
Consolidated depreciation and amortization
e. Provision recognized in current year
Total segment provision
Provision recognized from other
non-operating segments
Adjustment and inter-segment elimination
Consolidated provision recognized
in current year
Geographic information:
External revenues
Indonesia
Foreign countries
Total
2022
2021
42,394
(1,772)
(1,041)
878
(4,033)
(87)
36,339
49,413
(1,237)
(613)
558
(4,365)
(78)
43,678
2022
2021
(33,981)
(175)
(34,156)
(30,275)
(66)
(30,341)
2022
2021
(37,589)
(263)
4,597
(33,255)
(35,530)
(280)
3,994
(31,816)
2022
2021
(578)
(7)
18
(567)
(425)
(3)
(46)
(474)
2022
2021
139,983
7,323
147,306
136,482
6,728
143,210
The revenue information above is based on the location of the customers.
There is no revenue from major customer which exceeds 10% of total revenues for the year ended
December 31, 2022 and 2021.
Non-current operating assets
Indonesia
Foreign countries
Total
2022
2021
178,424
3,207
181,631
169,823
2,709
172,532
Non-current operating assets for this purpose consist of property and equipment and intangible assets.
96
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
34. TELECOMMUNICATIONS SERVICE TARIFFS
Under Law No. 36 Year 1999 and Government Regulation No. 52 Year 2000, tariffs for operating
telecommunications network and/or services are determined by providers based on the tariff type,
structure, and with respect to the price cap formula set by the Government.
a. Fixed line telephone tariffs
The Government has
MoCI Regulation No. 5/2021 dated March 31, 2021 concerning “Telecommunication Operation”.
This Decree replaced the previous Decree No. 15/PER/M.KOMINFO/4/2008 dated April 30, 2008..
issued a new adjustment
formula which
is stipulated
tariff
in
Under the Decree, tariff structure for basic telephony services connected through fixed line network
consists of the following:
i. Activation fee
ii. Monthly subscription charges
iii. Usage charges, and
iv. Additional facilities fee.
b. Mobile cellular telephone tariffs
On March 31, 2021, MoCI issued MoCI Regulation No. 5/2021, which provides guidelines to
determine cellular tariffs with a formula consisting of network element cost and retail services
activity cost.
Under MoCI Regulation No. 5/2021, cellular tariffs for the operation of telecommunication services
connected through mobile cellular network consist of the following:
(i) Basic telephony services tariff
(ii) Roaming tariff, and/or
(iii) Multimedia services tariff
with the following traffic structure:
(i) Activation fee
(ii) Monthly subscription charges, and/or
(iii) Usage charges
c. Interconnection tariffs
The Indonesian Telecommunication Regulatory Body (“ITRB”), in its letter No. 262/BRTI/XII/2011
dated December 12, 2011, decided to change the basis for SMS interconnection tariff to cost basis
with a maximum tariff of Rp23 per SMS effective from June 1, 2012, for all telecommunication
provider operators.
Based on letter No.118/KOMINFO/DJPPI/PI.02.04/01/2014 dated January 30, 2014 of the Director
General of Post and Informatics, the Director General of Post and Informatics decided to implement
new interconnection tariff effective from February 1, 2014 until December 31, 2016, subject to
evaluation on an annual basis. Pursuant to the Director General of Post and Informatics letter, the
Company and Telkomsel are required to submit the Reference Interconnection Offer (“RIO”)
proposal to ITRB to be evaluated.
ITRB
Subsequently,
letters No. 60/BRTI/III/2014 dated March 10, 2014 and
No. 125/BRTI/IV/2014 dated April 24, 2014 approved Telkomsel and the Company’s revision of
RIO regarding the interconnection tariff. Based on the letter, ITRB also approved the changes to
the SMS interconnection tariff to Rp24 per SMS.
its
in
On January 18, 2017, ITRB in its letters No. 20/BRTI/DPI/I/2017 and No. 21/BRTI/DPI/I/2017,
decided to use the interconnection tariff based on the Company and Telkomsel’s RIO in 2014 until
the new interconnection tariff is set.
97
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
34. TELECOMMUNICATIONS SERVICE TARIFFS (continued)
d. Network lease tariffs
In 2008, the Director General of Post and Telecommunication issued Decree No. 115 of 2008 which
stated its agreement on Agreement on Network Lease Service Type Document, Network Lease
Service Tariff, Available Capacity of Network Lease Service, Quality of Network Lease Service,
and Provision Procedure of Network Lease Service Owned by Dominant Network Lease Service
Provider in conformity with the Company’s proposal. Through MoCI Regulation No. 5/2021, the
Government regulated the form, type, tariff structure, and tariff formula for services of network
lease.
e. Tariff for other services
The tariffs for satellite lease, telephony services, and other multimedia are determined by the
service provider by taking into account the expenditures and market price. The Government only
determines the tariff formula for basic telephony services. There is no stipulation for the tariff of
other services.
35. SIGNIFICANT COMMITMENTS AND AGREEMENTS
a. Capital expenditures
As of December 31, 2022, capital expenditures committed under the contractual arrangements are
Rp10,046 billion and US$267 million.
The above balance includes the following significant agreements:
Contracting parties
The Company and NEC Corporation
Date of
agreement
May 12, 2016 -
March 31, 2023
Telkomsel and PT Phincon
September 12, 2019 -
September 12, 2024
Significant part of the agreement
Procurement and Installation Agreement
of Sistem Komunikasi Kabel Laut ("SKKL")
Indonesia Global Gateway Platform
Development and Rollout Agreement
Support
("DRA")
Customer
Agreement
("CRM")
Relationship Management
Solution System Integrator
Technical
("TSA")
and
Telkomsel, PT Ericsson Indonesia,
PT Huawei Tech Investment, and
PT ZTE Indonesia
The Company and PT Mastersystem
Infotama
Telkomsel, PT Sempurna Global
Pratama, PT Lintas Teknologi
and PT Ericsson
Indonesia,
Indonesia
Software
Amdocs
Telkomsel,
Solutions
Liability
Limited
Company, and PT Application
Solutions
Telkomsel and PT Application
Solutions
Telkomsat and Thales Alenia Space
France ("TAS")
Telkomsel
Indonesia
Telkomsel and PT Lintas Teknologi
Indonesia
and PT Ericsson
February 1, 2021 -
January 31, 2024
Procurement Agreement
Ultimate Solution ("ROA") and TSA
for Radio
June 3, 2021 -
April 6, 2023
Procurement and Installation Agreement of
Expand IP Backbone Platform Cisco
September 1, 2021 -
September 1, 2024
Procurement
of Next
Generation of Gateway GPRS Support
Node ("GGSN") (Virtualized EPC)
Agreement
October 8, 2021 -
October 8, 2024
Agreement Online Charging System
(“OCS”) and Service Control Points
(“SCP”) System Solution Development
October 8, 2021 -
October 8, 2024
October 28, 2021 -
October 27, 2037
February 13, 2022 -
February 12, 2025
February 13, 2022 -
February 12, 2025
TSA for OCS and SCP
Procurement and Installation Agreement
of HTS 113BT Satellite System
Procurement Agreement for CS Core
Solution ROA and TSA
Procurement Agreement for CS Core
Solution ROA and TSA
98
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
35. SIGNIFICANT COMMITMENTS AND AGREEMENTS (continued)
a. Capital expenditures (continued)
Contracting parties
Telkomsel and PT Huawei Tech
Investment
Telkomsat and Space Exploration
Technologies Corporation ("SpaceX")
Date of
agreement
March 24, 2022 -
March 24, 2025
April 19, 2022 -
June 30, 2025
The Company and PT Lintas
Teknologi Indonesia
July 22, 2022 -
March 19, 2023
Significant part of the agreement
Procurement Agreement for GGSN
for Launch
Procurement Agreement
Services of HTS 113BT Satellite
Procurement and Installation Agreement
of Nokia Dense wavelength-division
multiplexing (“DWDM”) Platform
b. Borrowings and other credit facilities
(i) As of December 31, 2022, the Company has bank guarantee facilities for tender bonds,
performance bonds, maintenance bonds, deposit guarantee, and advance payment bonds for
various projects of the Company, as follows:
Lenders
BRI
BNI
Bank Mandiri
Total
Total facility
Maturity
March 14, 2024
March 31, 2023
500
500
500 December 23, 2023
1,500
Currency
Rp
Rp
Rp
Facility utilized
294
129
236
659
(ii) As of December 31, 2022, Telkomsel has bank guarantee facilities for various projects, as
follows:
Total facility
Lenders
BRI
BNI
Total
*) Bank guarantee facility with BRI is on extension process
1,000 September 25, 2022*)
2,100 December 11, 2022
3,100
Maturity
Currency
Rp
Rp
Facility utilized
23
1,577
1,600
Bank guarantee facility with BRI and BNI are mainly for performance bond and surely bond of
radio frequency (Note 35c.i).
(iii) Telin has a US$15 million or equal to Rp233 billion bank guarantee from Bank Mandiri and has
been renewed on December 23, 2022, with a maximum credit limit of US$25 million or equal
to Rp389 billion. The facility will expire on December 23, 2023. As of December 31, 2022, Telin
has not had outstanding bank guarantee facility.
c. Others
(i) Radio frequency usage
With reference to Telecommunication Law No. 36 Year 1999, based on the Decision Letter
No. 025/TEL.01.02/2022 Year 2022 dated January 28, 2022 of the MoCI, the MoCI granted
Telkomsel the rights to provide:
1. Mobile telecommunication services with radio frequency bandwidth in the 800 MHz,
900 MHz, 1,800 MHz, 2.1 GHz and 2.3 GHz; and
2. Basic telecommunication services.
99
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
35. SIGNIFICANT COMMITMENTS AND AGREEMENTS (continued)
c. Others (continued)
(i) Radio frequency usage (continued)
With reference to Decision Letters No. 191 Year 2013, No.509 Year 2016, No. 1896 year 2017,
No. 806 Year 2019, No.620 Year 2020, No. 178 Year 2021, and No. 479 Year 2022 of the
MoCI, Telkomsel is required, among other things, to:
1. Issue a performance bond each year amounting to Rp20 billion and a surety bond
amounting Rp617.15 billion for spectrum 2.1 GHz.
2. Issue a surety bond each year amounting Rp1.03 trillion for spectrum 2.3 GHz.
3. Issue a surety bond each year amounting Rp360 billion for both spectrum 2.3 GHz
Block A and C.
4. Pay an annual right of usage (“BHP”) as set forth in the decision letters. The BHP is payable
upon receipt of Surat Pemberitahuan Pembayaran (notification letter) from the DGPI.
The BHP fee is payable annually up to the expiry period of the license.
The following are radio frequency band licenses owned by Telkomsel along with the BHP fees
paid during current year:
1. Radio frequency for band 800 MHz, 900 MHz, and 1,800 MHz
Based on Decree No. 620 Year 2020 of the MoCI, concerning the extension of the
determination of radio frequency bands 800 MHz, 900 MHz and 1,800 MHz, Telkomsel
should pay annual frequency usage fees from 2020 to 2030.
2. Radio frequency for band up to 2.1 GHz
Based on Decree No. 191 Year 2013 of the MoCI, concerning the appointment of
PT Telekomunikasi Selular to use 2.1 GHz radio frequency for band 1,970 - 1,975 MHz
paired with 2,160 - 2,165 MHz, the MoCI granted to utilize the license until March 18, 2023.
Based on Decree No. 509 Year 2016 of the MoCI, concerning the extension of the
determination of radio frequency 2.1 GHz for band 1,940 - 1,945 MHz paired with 2,130 -
2,135 MHz, the MoCI granted the extension of the license until March 28, 2026.
Based on Decree No. 806 Year 2019 of the MoCI (previously was regulated on Decree
No. 356 Year 2018), concerning the extension of the determination of radio frequency 2.1
GHz for band 1,935 - 1,940 MHz paired with 2,125 - 2,130 MHz, the MoCI granted the
extension of the license until September 30, 2029.
The aforementioned 2.1 GHz radio frequency band was rearranged in pursuant to the
Decree No. 356 Year 2018 of the MoCI concerning the determination of 2.1 GHz radio
frequency band for the purposes of mobile cellular network.
Based on Decree No. 479 Year 2022 of the MoCI, concerning the appointment of
Telkomsel as winner of auction of 2.1 GHz radio frequency for band 1,975 - 1,980 MHz
paired with 2,165 - 2,170 MHz effective from January 11, 2023.
In October 2022, the MoCI issued a Decree No. 480 Year 2022 concerning the
rearrangement of the 2.1 GHz radio frequency band, including those used by Telkomsel.
3. Radio frequency for band up to 2.3 GHz
Based on Decree No. 1896 Year 2017 of the MoCI, concerning the appointment of
PT Telekomunikasi Selular to use 2.3 GHz radio frequency for band 2,300 - 2,330 MHz.
4. Radio frequency for band up to 2.3 GHz Block A and C
Based on Decree No. 178 Year 2021 of the MoCI, concerning the appointment of
PT Telekomunikasi Selular to use 2.3 GHz radio frequency for band 2,300 - 2,390 MHz,
Telkomsel shall pay the annual BHP IPFR for Block A and Block C until 2030.
100
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
35. SIGNIFICANT COMMITMENTS AND AGREEMENTS (continued)
c. Others (continued)
(i)
Radio frequency usage (continued)
The following are radio frequency band licenses owned by Telkomsel along with the BHP fees
paid during current year (continued):
4. Radio frequency for band up to 2.3 GHz Block A and C
Based on Decree No. 445 Year 2021 of the MoCI, concerning the determination of radio
frequency bands resulting from the rearrangement of the 2.3 GHz radio frequency band for
the purposes of mobile cellular network, the aforementioned 2.3 GHz radio frequency band
was rearranged.
Based on Decree No. 487 Year 2022 of the MoCI, Telkomsel received a right to use
reallocated 2.3 GHz radio frequency from PT Berca Hardayaperkasa effective from
November 18, 2022.
(ii) Receivable under non-cancelable lease agreements
The Group entered into non-cancelable lease agreements with both third and related parties.
The lease agreements cover leased lines, telecommunication equipment and land and building
with terms ranging from 1 to 10 years and with expiry dates between 2023 and 2032. Periods
may be extended based on the agreement by both parties.
The minimum amount of future lease payments and receipts for operating lease agreements
are as follows:
2022
2021
Less than 1 year
1-5 years
More than 5 years
Total
(iii) USO
2,582
8,354
5,107
16,043
3,095
6,922
4,732
14,749
On December 27, 2011, Telkomsel (on behalf of Konsorsium Telkomsel, a consortium which
was established with Mitratel on December 9, 2011) was selected by Balai Penyedia dan
Pengelola Pembiayaan Telekomunikasi dan Informatika (“BPPPTI”), now has been renamed
as Badan Aksesibilitas Telekomunikasi dan Informasi (“BAKTI”) as a provider of the USO
Program in the border areas with a total price of Rp261 billion.
In 2015, the Program was ceased. In January 2016, Telkomsel filed an arbitration claim to
BANI for the settlement of the outstanding receivables of USO Programs.
On June 22, 2017, Telkomsel received a decision letter from BANI No. 792/1/ARB-BANI/2016
requesting BAKTI to pay compensation to Telkomsel amounting to Rp218 billion, and as of
the date of the issuance of these consolidated financial statements Telkomsel has received
the payment from BAKTI amounting to Rp91 billion (before tax) and no additional payment.
The MoCI issued Regulation No. 5 Year 2021 dated March 31, 2021 which replaced previous
regulations regarding policies underlying the USO program. The regulation requires
telecommunications operators in Indonesia to contribute 1.25% of gross revenues (with due
consideration for bad debts and/or interconnection charges and/or connection charges and/or
the exclusion of certain revenues that are not considered as part of gross revenues as a basis
to calculate the USO charged) for USO development.
101
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
35. SIGNIFICANT COMMITMENTS AND AGREEMENTS (continued)
c. Others (continued)
(iii) USO (continued)
Based on Decree No. 827/KOMINFO/BAKTI.31/KS.1/10/2021 dated October 4, 2021 of BAKTI
granted Telkomsel as operating cooperation partners (“KSO”) for eight packages KSO, which
cover Nusa Tenggara, Kalimantan, Sulawesi, Maluku, West Papua, West Central Papua,
North Central Papua and South East Papua for period from 2021 until 2031.
36. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
Assets and liabilities denominated in foreign currencies are as follows:
Assets
Cash and cash equivalents
Other current financial assets
Trade receivables
Related parties
Third parties
Contract assets
Other receivables
Other current assets
Long-term investment in financial instruments
Other non-current assets
Total assets
Liabilities
Trade payables
Related parties
Third parties
Other payables
Accrued expenses
Advances from customers
Current maturities of long-term borrowings
Long-term borrowings - net of current maturities
Other liabilities
Total liabilities
Assets (liabilities) - net
Assets
Cash and cash equivalents
Other current financial assets
Trade receivables
Related parties
Third parties
Contract assets
Other receivables
Other current assets
Long-term investment in financial instruments
Other non-current assets
Total assets
Liabilities
Trade payables
Related parties
Third parties
Other payables
Accrued expenses
Advances from customers
Current maturities of long-term borrowings
Long-term loans and other borrowings
Other liabilities
Total liabilities
Assets (liabilities) - net
U.S Dollar
(in millions)
Japanese Yen
(in millions)
Others*
(in millions)
Rupiah equivalent
(in billions)
2022
261.09
27.06
0.47
86.06
30.91
0.92
0.30
372.84
0.43
780.08
(0.13)
(104.25)
(1.58)
(39.41)
(2.39)
(15.78)
(24.75)
(2.00)
(190.29)
589.79
5.74
-
-
-
-
-
-
-
-
5.74
-
(25.34)
-
(5.21)
-
(767.90)
(767.90)
-
(1,566.35)
(1,560.61)
13.60
0.02
-
8.24
-
1.11
0.46
6.22
0.55
30.20
-
(5.82)
(2.93)
(2.31)
(0.11)
(4.72)
(30.60)
-
(46.49)
(16.29)
4,298
427
7
1,481
486
32
13
5,907
17
12,668
(2)
(1,728)
(70)
(657)
(38)
(413)
(958)
(33)
(3,899)
8,769
U.S Dollar
(in millions)
Japanese Yen
(in millions)
Others*
(in millions)
Rupiah equivalent
(in billions)
2021
274.23
11.55
0.73
-
16.45
-
4,142
165
0.09
112.56
34.25
0.28
0.30
927.23
3,28
1,363.77
-
-
-
6.33
-
-
-
-
0.06
0.59
-
-
0.73
8.57
1,11
33.07
1
1,696
489
6
13
13,348
62
19,922
(0.01)
(105.54)
(3.07)
(47.23)
(0.17)
(17.16)
(37.14)
(0.29)
(210.61)
1,153.16
-
(2.37)
-
(7.82)
-
(767.90)
(1,535.80)
-
(2,313.89)
(2,313.16)
-
(5.60)
(1.54)
(2.03)
(0.68)
(4.42)
(34.51)
-
(48.78)
(15.71)
(0)
(1,586)
(66)
(703)
(12)
(402)
(1,212)
(4)
(3,985)
15,937
*Assets and liabilities denominated in other foreign currencies are presented as U.S. Dollar equivalents using the buy and sell rates quoted by
Reuters prevailing at the end of the reporting period.
The Group’s activities expose them to a variety of financial risks, including the effects of changes in
debt and equity market prices, foreign currency exchange rates, and interest rates.
102
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS
a. Fair value of financial assets and financial liabilities
i. Classification
(a) Financial asset
Amortized cost
Cash and cash equivalents
Other current financial assets
Trade receivables
Other receivables
Other non-current assets
FVTPL
Long-term investment in financial instruments
Other current financial assets
FVTOCI
Long-term investment in financial instruments
Total financial assets
2022
2021
31,947
1,268
8,634
245
186
8,508
81
22
50,891
38,311
415
8,510
195
151
13,643
78
18
61,321
(b) Financial liabilities
Financial liabilities measured at amortized cost
2022
2021
Trade payables
Other payables
Accrued expenses
Customers deposits
Short-term bank loans
Two-step loans
Bonds
Long-term bank loans
Other borrowings
Lease liabilities
Other liabilities
Total financial liabilities
ii. Fair values
18,457
463
15,445
44
8,191
209
4,793
29,873
1,314
18,661
170
97,620
17,170
609
15,885
401
6,682
355
6,993
36,056
2,605
16,387
126
103,269
The following table presents comparison of the carrying amounts and fair values of the
Company’s financial instruments, other than those the fair values are considered to approximate
their carrying amounts as the impact of discounting is not significant:
2022
FVTPL
Other current financial assets
Long-term investment in financial instruments
FVTOCI
Long-term investment in financial instruments
Financial liabilities at amortized cost
Interest-bearing loans:
Two-step loans
Bonds
Long-term bank loans
Other borrowings
Lease liabilities
Other liabilities
Total
Fair value measurement at reporting date using
Quoted prices in
active markets
Significant
for identical
assets or
liabilities
(level 1)
other
observable
inputs
(level 2)
Significant
unobservable
inputs
(level 3)
Carrying
value
Fair value
81
2,172
-
-
5,614
-
-
-
-
7,867
-
-
-
-
-
-
-
-
-
-
-
6,336
22
207
-
29,860
1,311
18,661
170
56,567
81
8,508
81
8,508
22
22
207
5,614
29,860
1,311
18,661
170
64,434
209
4,793
29,873
1,314
18,661
170
63,631
103
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
a. Fair value of financial assets and financial liabilities (continued)
ii. Fair values (continued)
The following table presents comparison of the carrying amounts and fair values of the
Company’s financial instruments, other than those the fair values are considered to approximate
their carrying amounts as the impact of discounting is not significant (continued):
2021
FVTPL
Other current financial assets
Long-term investment in financial instruments
FVTOCI
Long-term investment in financial instruments
Financial liabilities at amortized cost
Interest-bearing loans:
Two-step loans
Bonds
Long-term bank loans
Other borrowings
Lease liabilities
Other liabilities
Total
Carrying
value
Fair value
78
13,643
78
13,643
18
18
355
6,993
36,056
2,605
16,387
126
76,261
351
8,019
36,176
2,610
16,387
126
77,408
Fair value measurement at reporting date using
Quoted prices in
active markets
for identical
assets or
liabilities
(level 1)
Significant
other
inputs
(level 2)
inputs
(level 3)
observable unobservable
Significant
78
-
-
-
8,019
-
-
-
-
8,097
-
8,899
-
-
-
-
-
-
-
8,899
-
4,744
18
351
-
36,176
2,610
16,387
126
60,412
As of December 31, 2022, there was a transfer of the fair value hierarchy of financial assets
from level 2 and level 3 to level 1 with the consideration that there was a quoted price in an
active market condition for identical assets that could be accessed on the measurement date.
Therefore, these financial assets can be categorized as level 1. These financial assets are long-
term investments in shares in GOTO of Rp2,159 billion and in PT Global Sukses Solusi of Rp13
billion.
Gain on fair value measurement recognized in consolidated statements of profit or loss and
other comprehensive income for the years ended December 31, 2022 amounting to
Rp282 billion.
Reconciliations of the beginning and ending balances for items measured at fair value using
significant unobservable inputs (level 3) for the years ended December 31, 2022 and 2021 are
as follows:
Beginning balance
Gain recognized in consolidated statement
of profit or loss and other comprehensive income
Purchase/addition
Settlement/deduction
Ending balance
2022
2021
4,762
282
1,338
(24)
6,358
1,962
936
2,068
(204)
4,762
104
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
a. Fair value of financial assets and financial liabilities (continued)
ii. Fair values (continued)
The following table summarizes the quantitative information about the significant unobservable
inputs used in level 3 fair value measurements:
Industry
Valuation technique
Significant
unobservable input
Range
(weighted
average)
Sensitivity of the input
of fair value
Subsidiaries investment
Non-listed equity investment -
technology
OPM Backsolve
method
Volatility
30.00% - 93.99% 10% increase (decrease)
in
the percentage of
volatility would result in
an increase (decrease)
Rp23 billion of
the
Investment value
Exit timing
1.25 - 5 Years
Increase (decrease) in 1
year exit timing would
result
increase
(decrease) Rp22 billion
of the Investment value
in an
CoCos Equity
Volatility
20.00% - 93.99% 10% increase (decrease)
in
the percentage of
volatility would result in
an increase (decrease)
Rp13 billion of
the
Investment value
Exit timing
1 - 6 Years
Equity value/revenue
2.36x - 4.36x
multiple
Probability-weighted
Method
IPO Probability
30% - 40%
Non-listed equity investment -
credit rating agency
Discounted cash flow Weighted Average
12% - 22%
Cost of Capital
("WACC")
Terminal growth rate
1% - 5%
105
Increase (decrease) in 1
year exit timing would
result
increase
(decrease) Rp10 billion
of the Investment value
in an
Increase in 1x of equity
value/revenue multiple
would
in an
result
increase Rp3 billion of
the Investment value
50% increase (decrease)
in IPO probability would
result
increase
(decrease) Rp4 billion of
the Investment value
in an
1% decrease (increase)
in
the percentage of
WACC would result in an
increase (decrease) Rp9
billion of the Investment
value
1% increase (decrease)
in terminal growth rate
would
in an
result
increase (decrease) Rp6
billion of the Investment
value
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
a. Fair value of financial assets and financial liabilities (continued)
ii. Fair values (continued)
The following table summarizes the quantitative information about the significant unobservable
inputs used in level 3 fair value measurements (continued):
Industry
Non-listed equity investment -
telecommunication
Valuation technique
Discounted cash flow WACC
Significant
unobservable
input
Range
(weighted
average)
3.4% - 14%
Sensitivity of the input
of fair value
0.5%
decrease
in WACC
in an
(decrease)
the
result
(increase)
would
increase
Rp6
of
Investment value
billion
Convertible bonds
Non-listed equity investment -
technology
OPM
method
Terminal
growth rate
1.5% - 3.2%
1% increase (decrease)
in terminal growth rate
would
in an
result
(decrease)
increase
Rp3
the
of
Investment value
billion
Backsolve
Volatility
33.42% - 48.02% 10%
increase
(decrease)
the
in
percentage of volatility
would
in an
result
(decrease)
increase
Rp2
the
of
Investment value
billion
Exit timing
3.25 - 3.33 Years Increase (decrease) in 1
year exit timing would
result
increase
(decrease) Rp2 billion of
the Investment value
in an
iii. Fair value measurement
Fair value is the amount for which an asset could be exchanged, or a liability settled, between
parties in an arm's length transaction.
The fair values of short-term financial assets and financial liabilities with maturities of one year
or less (cash and cash equivalents, trade and other receivables, other current financial assets,
trade and other payables, accrued expenses, and short-term bank loans) and other non-current
assets are considered to approximate their carrying amounts as the impact of discounting is not
significant.
The fair values of long-term financial assets (other non-current assets (long-term trade
receivables and restricted cash) approximate their carrying amounts as the impact of
discounting is not significant.
106
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
a. Fair value of financial assets and financial liabilities (continued)
iii. Fair value measurement (continued)
The Group determined the fair value measurement for disclosure purposes of each class of
financial assets and financial liabilities based on the following methods and assumptions:
(a) Fair value through profit or loss, primarily consist of stocks, mutual funds, corporate and
government bonds, and convertible bonds. Stocks and mutual funds actively traded in
an established market are stated at fair value using quoted market price or, if unquoted,
determined using a valuation technique. The fair value of convertible bonds are
determined using valuation technique. Corporate and government bonds are stated at
fair value by reference to prices of similar at the reporting date.
(b) The fair values of long-term financial liabilities are estimated by discounting the future
contractual cash flows of each liability at rates offered to the Group for similar liabilities
of comparable maturities by the bankers of the Group, except for bonds which are based
on market price.
The fair value estimates are inherently judgemental and involve various limitations, including:
(a) Fair values presented do not take into consideration the effect of future currency
fluctuations.
(b) Estimated fair values are not necessarily indicative of the amounts that the Group would
record upon disposal/termination of the financial assets and liabilities.
b. Financial risk management objectives and policies
The Group’s activities expose it to a variety of financial risks such as market risks (including
foreign exchange risk, market price risk, and interest rate risk), credit risk, and liquidity risk.
Overall, the Group’s financial risk management program is intended to minimize losses on the
financial assets and financial liabilities arising from fluctuation of foreign currency exchange rates
and the fluctuation of interest rates. Management has a written policy on foreign currency risk
management mainly on time deposit placements and hedging to cover foreign currency risk
exposures for periods ranging from 3 up to 12 months.
Financial risk management is carried out by the Corporate Finance unit under policies approved
by the Board of Directors. The Corporate Finance unit identifies, evaluates and hedges financial
risks.
i. Foreign exchange risk
The Group is exposed to foreign exchange risk on sales, purchases and borrowings that are
denominated in foreign currencies. The foreign currency denominated transactions are
primarily in U.S. Dollars and Japanese Yen. The Group’s exposures to other foreign exchange
rates are not material.
Increasing risks of foreign currency exchange rates on the obligations of the Group are
expected to be partly offset by the effects of the exchange rates on time deposits and
receivables in foreign currencies that are equal to at least 25% of the outstanding current
foreign currency liabilities.
107
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
b. Financial risk management objectives and policies (continued)
i. Foreign exchange risk (continued)
The following table presents the Group’s financial assets and financial liabilities exposure to
foreign currency risk:
U.S. Dollar
(in billions)
0.78
(0.19)
0.59
Financial assets
Financial liabilities
Net exposure
Sensitivity analysis
2022
(in billions)
Japanese Yen U.S. Dollar
(in billions)
1.36
(0.21)
1.15
0.01
(1.57)
(1.56)
2021
Japanese Yen
(in billions)
0.00
(2.31)
(2.31)
A strengthening of the U.S. Dollar and Japanese Yen, as indicated below, against the Rupiah
at December 31, 2022 would have decreased equity and profit or loss by the amounts shown
below. This analysis is based on foreign currency exchange rate variances that the Group
considered to be reasonably possible at the reporting date. The analysis assumes that all other
variables, in particular interest rates, remain constant.
December 31, 2022
U.S. Dollar (1% strengthening)
Japanese Yen (5% strengthening)
Equity/profit (loss)
92
(9)
A weakening of the U.S. Dollar and Japanese Yen against the Rupiah at December 31, 2022
would have had an equal but opposite effect on the above currencies to the amounts shown
above, on the basis that all other variables remain constant.
ii. Market price risk
The Group is exposed to changes in debt and equity market prices related to financial assets
measured at FVTPL carried at fair value. Gains and losses arising from changes in the fair
value of financial assets measured at FVTPL are recognized in the consolidated statements of
profit or loss and other comprehensive income.
The performance of the Group’s financial assets measured at FVTPL is monitored periodically,
together with a regular assessment of their relevance to the Group’s long-term strategic plans.
As of December 31, 2022, management considered the price risk for the Group’s financial
assets measured at FVTPL to be immaterial in terms of the possible impact on profit or loss
and total equity from a reasonably possible change in fair value.
iii. Interest rate risk
Interest rate fluctuation is monitored to minimize any negative impact to financial performance.
Borrowings at variable interest rates expose the Group to interest rate risk (Notes 18 and 19).
To measure market risk pertaining to fluctuations in interest rates, the Group primarily uses
interest margin and maturity profile of the financial assets and liabilities based on changing
schedule of the interest rate.
108
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
b. Financial risk management objectives and policies (continued)
iii.
Interest rate risk (continued)
At reporting date, the interest rate profile of the Group’s interest-bearing borrowings was as
follows:
Fixed rate borrowings
Variable rate borrowings
2022
2021
(27,767)
(35,274)
(25,444)
(43,634)
Sensitivity analysis for variable rate borrowings
As of December 31, 2022, a decrease (increase) by 25 basis points in interest rates of variable
rate borrowings would have increased (decreased) equity and profit or loss by Rp88.2 billion,
respectively. The analysis assumes that all other variables, in particular foreign currency rates,
remain constant.
iv. Credit risk
The following table presents the maximum exposure to credit risk of the Group’s financial
assets:
Cash and cash equivalents
Other current financial assets
Trade receivable
Other receivable
Other non-current assets
Total
2022
2021
31,947
1,349
8,634
245
186
42,361
38,311
493
8,510
195
151
47,660
The Group is exposed to credit risk primarily from cash and cash equivalents and trade and
other receivables. The credit risk is controlled by continuous monitoring of outstanding balance
and collection. Credit risk from balances with banks and financial institutions is managed by
the Group’s Corporate Finance Unit in accordance with the Group’s written policy.
The Group placed the majority of its cash and cash equivalents in state-owned banks because
they have the most extensive branch networks in Indonesia and are considered to be financially
sound banks. Therefore, it is intended to minimize financial loss through banks and financial
institutions’ potential failure to make payments.
The customer credit risk is managed by continuous monitoring of outstanding balances and
collection. Trade and other receivables do not have any major concentration of risk whereas
no customer receivable balance exceeds 4.33% of trade receivables as of December 31, 2022
(2021: 5.05%)
Management is confident in its ability to continue to control and sustain minimal exposure to
the customer credit risk given that the Group has recognized sufficient provision for impairment
of receivables to cover incurred loss arising from uncollectible receivables based on existing
historical data on credit losses.
v. Liquidity risk
Liquidity risk arises in situations where the Group has difficulties in fulfilling financial liabilities
when they become due.
Prudent liquidity risk management implies maintaining sufficient cash in order to meet the
Group’s financial obligations. The Group continuously performs an analysis to monitor financial
position ratios, such as liquidity ratios and debt-to-equity ratios, against debt covenant
requirements.
109
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
37. FINANCIAL INSTRUMENTS (continued)
b. Financial risk management objectives and policies (continued)
v. Liquidity risk (continued)
The following is the maturity profile of the Group’s financial liabilities based on contractual
undiscounted payments:
2022
Trade and other payables
Trade and other payables
Accrued expenses
Customer deposits
Interest bearing loans:
Short-term bank loans
Two-step loans
Bonds
Long-term bank loans
Other borrowings
Lease liabilities
Other liabilities
Total
2021
Trade and other payables
Trade and other payables
Accrued expenses
Customer deposits
Interest bearing loans:
Short-term bank loans
Two-step loans
Bonds
Long-term bank loans
Other borrowings
Lease liabilities
Other liabilities
Total
Carrying
amount
Contractual
cash flows
2023
2024
2025
2026
2027 and
thereafter
18,457
463
15,445
44
8,191
209
4,793
29,873
1,314
18,661
170
97,620
(18,457)
(463)
(15,445)
(44)
(18,457)
(463)
(15,445)
(44)
(8,191)
(216)
(10,096)
(36,301)
(1,394)
(22,053)
(196)
(112,856)
(8,191)
(123)
(509)
(10,020)
(1,027)
(5,893)
(20)
(60,192)
-
-
-
-
-
(93)
(510)
(8,346)
(367)
(4,545)
(44)
(13,905)
-
-
-
-
-
-
(2,574)
(6,871)
-
(2,766)
(44)
(12,255)
-
-
-
-
-
-
(293)
(4,874)
-
(2,258)
(44)
(7,469)
-
-
-
-
-
-
(6,210)
(6,190)
-
(6,591)
(44)
(19,035)
Carrying
amount
Contractual
cash flows
2022
2023
2024
2025
2026 and
thereafter
17,170
609
15,885
401
6,682
355
6,993
36,056
2,605
16,387
126
103,269
(17,170)
(609)
(15,885)
(401)
(17,170)
(609)
(15,885)
(401)
(6,682)
(375)
(12,821)
(41,867)
(2,801)
(17,052)
(148)
(115,811)
(6,682)
(150)
(2,817)
(8,228)
(1,164)
(4,935)
(11)
(58,052)
-
-
-
-
-
(128)
(507)
(10,335)
(1,115)
(3,473)
(34)
(15,592)
-
-
-
-
-
(97)
(507)
(7,492)
(522)
(2,435)
(34)
(11,087)
-
-
-
-
-
-
(2,500)
(6,064)
-
(1,813)
(34)
(10,411)
-
-
-
-
-
-
(6,490)
(9,748)
-
(4,396)
(35)
(20,669)
The difference between the carrying amount and the contractual cash flows is interest value.
The interest value of variable-rate borrowings are determined based on the effective interest
rates as of reporting date.
110
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
38. CAPITAL MANAGEMENT
The capital structure of the Group is as follows:
Short-term debts
Long-term debts
Total debts
Equity attributable to owners
of the parent company
Total
2022
2021
Amount
Portion
Amount
Portion
8,191
54,850
63,041
129,258
192,299
4.26%
28.52%
32.78%
67.22%
100.00%
6,682
62,396
69,078
121,646
190,724
3.50%
32.72%
36.22%
63.78%
100.00%
The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a
going concern in order to provide returns for stockholders and benefits to other stakeholders and to
maintain an optimum capital structure to minimize the cost of capital.
Periodically, the Group conducts debt valuation to assess possibilities of refinancing existing debts
with new ones with have more efficient cost that will lead to more optimized cost-of-debt. In case of
idle cash with limited investment opportunities, the Group will consider buying back its shares of stock
or paying dividend to its stockholders.
In addition to complying with loan covenants, the Group also maintains its capital structure at the level
it believes will not risk its credit rating and which is comparable with its competitors.
Debt-to-equity ratio (comparing net interest-bearing debt to total equity) is a ratio which is monitored
by management to evaluate the Group’s capital structure and review the effectiveness of the Group’s
debts. The Group monitors its debt levels to ensure the debt-to-equity ratio complies with or is below
the ratio set out in its contractual borrowings arrangements and that such ratio is comparable or better
than that of regional area entities in the telecommunications industry.
The Group’s debt-to-equity ratio as of December 31, 2022 and 2021, respectively were as follows:
Total interest-bearing debts
Less: cash and cash equivalents
Net debts
Total equity attributable to owners of the parent
company
Net debt-to-equity ratio
2022
2021
63,041
(31,947)
31,094
129,258
24.06%
69,078
(38,311)
30,767
121,646
25.29%
As stated in Note 19, the Group is required to maintain a certain debt-to-equity ratio and debt service
coverage ratio by the lenders. For the periods ended December 31, 2022 and 2021, the Group has
complied with externally imposed capital requirements.
111
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
39. SUPPLEMENTAL CASH FLOWS INFORMATION
a. The non-cash investing activities for the years ended December 31, 2022 and 2021 are as follows:
Acquisition of property and equipment:
Credited to trade payables
Borrowing cost capitalization
Addition of right of uses assets credited
to leases (Note 12)
Acquisition of intangible assets:
Credited to trade payables
2022
2021
4,662
79
5,723
52
10,006
4,783
258
501
b. The changes in liabilities arising from financing activities is as follows:
January 1, 2022 Cash flows
Foreign exchange
movement
New leases
Other
Changes
Non-cash changes
6,682
355
6,993
36,056
2,605
16,387
1,510
(144)
(2,200)
(6,218)
(1,294)
(6,896)
(1)
(2)
-
55
-
60
-
-
-
-
-
10,006
December 31, 2022
8,191
209
4,793
29,873
1,314
18,661
-
-
-
(20)
3
(896)
69,078
(15,242)
112
10,006
(913)
63,041
Short-term bank loans
Two step loans
Bonds
Long-term bank loans
Other borrowings
Lease liabilities
Total liabilities from
financing activities
40. SUBSEQUENT EVENTS
a. On February 6, 2023, Telkomsel paid the entire outstanding loans to Bank of China amounting to
Rp1,000 billion.
b. On February 15, 2023, Mitratel acquired 997 Indosat’s telecommunication towers amounting to
Rp1,648 billion.
c. On March 16, 2023, the Company withdrawn facilities from Bank of China amounting to Rp1,000
billion.
41. SUMMARY OF SIGNIFICANT DIFFERENCES BETWEEN PSAK AND
INTERNATIONAL
FINANCIAL REPORTING STANDARDS (“IFRS”)
These are summary of significant differences between PSAK and IFRS for the year 2022.
Impact of significant differences between PSAK and IFRS on items in consolidated statements of
financial position as of December 31, 2022 were as follows:
Reference PSAK
Reconciliation
IFRS
ASSETS
Trade receivables - net allowance for
expected credit losses
Related parties
Third parties
Other receivables - net
Total Current Assets
Property and equipment - net of accumulated depreciation
Right-of-use asset
Deferred tax assets - net
Total Non-current Assets
b
b
d
a
a,d
d
1,620
7,014
245
55,057
173,329
20,336
4,117
220,135
389
(389)
16
16
2,009
6,625
261
55,073
(1,838)
1,195
252
(391)
171,491
21,531
4,369
219,744
TOTAL ASSETS
275,192
(375)
274,817
112
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
41. SUMMARY OF SIGNIFICANT DIFFERENCES BETWEEN PSAK AND
INTERNATIONAL
FINANCIAL REPORTING STANDARDS (“IFRS”) (continued)
Impact of significant differences between PSAK and IFRS on items in consolidated statements of
financial position as of December 31, 2022 were as follows (continued):
Reference PSAK
Reconciliation
IFRS
LIABILITIES AND EQUITY
Trade payables
Related parties
Third parties
Current maturities of lease liabilities
Total Current Liabilities
Lease liabilities
Total Non-current Liabilites
TOTAL LIABILITIES
EQUITY
Additional paid-in capital
Other equity
Retained earnings
Net equity attributable to owners of the parent company
Non-controlling interest
TOTAL EQUITY
b
b
d
d
c
c
c
d
d
431
18,026
4,925
70,388
13,736
55,542
1,344
(1,344)
(153)
(153)
1,775
16,682
4,772
70,235
(35)
(35)
13,701
55,507
125,930
(188)
125,742
2,711
9,697
111,897
129,258
20,004
149,262
(734)
(9,133)
9,833
(34)
(153)
(187)
1,977
564
121,730
129,224
19,851
149,075
TOTAL LIABILITIES AND EQUITY
275,192
(375)
274,817
Impact of significant differences between PSAK and IFRS on items in consolidated statements of
profit or loss and other comprehensive income for the year ended December 31, 2022 were as follows:
Reference PSAK
Reconciliation
IFRS
Depreciation and amortization expenses
Other income - net
a,d
d
(33,255)
26
126
9
(33,129)
35
OPERATING PROFIT
Finance cost
PROFIT BEFORE INCOME TAX
INCOME TAX (EXPENSE) BENEFIT
PROFIT FOR THE YEAR
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
Profit for the year attributable to:
Owners of the parent company
Non-controlling interests
Total comprehensive income for the year attributable to:
Owners of the parent company
Non-controlling interests
BASIC EARNING PER SHARE
(in full amount)
Net income per share
Net income per ADS (100 Series B shares per ADS)
113
39,581
135
39,716
d
(4,033)
(44)
(4,077)
36,339
(8,659)
27,680
29,447
20,753
6,927
27,680
22,468
6,979
29,447
91
36,430
(51)
(8,710)
40
27,720
40
29,487
(17)
57
40
(19)
59
40
20,736
6,984
27,720
22,449
7,038
29,487
209.49
20,949.46
(0.17)
209.32
(17.16) 20,932.30
These consolidated financial statements are originally issued in the Indonesian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk. AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2022 and For the Year Then Ended
(Amounts in the tables expressed in billions of Indonesian Rupiah, unless otherwise stated)
41. SUMMARY OF SIGNIFICANT DIFFERENCES BETWEEN PSAK AND
INTERNATIONAL
FINANCIAL REPORTING STANDARDS (“IFRS”) (continued)
a. Land rights
According to PSAK, land rights are recorded as part of property and equipment and are not
amortized, unless there is indication that the extension or renewal of land rights is not expected
to be or will not be received. Costs incurred to process the extension or renewal of land legal
rights are recognized as intangible assets and amortized over the shorter of the term of the land
rights or the economic life of the land.
According to IFRS, land rights are accounted and presented as part of right-of-use assets. Land
rights are amortized over the lease period.
b. Related party transactions
According to Bapepam-LK Regulation No. VIII.G.7 regarding the Presentation and Disclosures of
Financial Statements of Issuers or Public Companies, a government-related entity is an entity that
is controlled, jointly controlled, or significantly influenced by a government. Government in this
context is the Ministry of Finance or the Local Government, as the shareholder of the entity.
According to IFRS, a government-related entity is an entity that is controlled, jointly controlled, or
significantly influenced by a government. Government in this context refers to the Government of
Indonesia, Government agencies, and similar bodies whether local, national, or international.
c. Differences in entities under common control restructuring transactions
According to PSAK, the difference between restructuring transactions between entities under
common control is included in the grouping of additional paid-in capital in equity. Meanwhile,
according to IFRS, the difference in restructuring transactions between entities under common
control is included in the grouping of retained earnings.
d. Timing difference in applying accounting standards
The Group applied PSAK 73 Leases starting from January 1, 2020. It is equivalent with accounting
standards in IFRS 16 Leases which was implemented in the beginning January 1, 2019. Timing
difference in applying accounting standard results in differences in some of accounts in the
consolidated financial statements.
114
Program Pendanaan Usaha Mikro dan Usaha Kecil
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk
Laporan keuangan tanggal 31 Desember 2022
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen
Financial statements as of December 31, 2022
for year then ended with independent auditors’ report
PROGRAM PENDANAAN USAHA MIKRO DAN
USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk
LAPORAN KEUANGAN
TANGGAL 31 DESEMBER 2022
DAN UNTUK TAHUN YANG BERAKHIR
PADA TANGGAL TERSEBUT
The original financial statements included herein are in the
Indonesian language.
PROGRAM PENDANAAN USAHA MIKRO DAN
USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk
FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2022
AND FOR THE YEAR THEN ENDED
Daftar Isi
Table of Contents
Halaman/
Page
Surat Pernyataan SGM CDC
Laporan Auditor Independen
SGM CDC’s Statement
Independent Auditors’ Report
Laporan Posisi Keuangan .............................................
Laporan Penghasilan Komprehensif ..............................
Laporan Perubahan Aset Neto ......................................
Laporan Arus Kas .........................................................
1
2
3
4
................................ Statement of Financial Position
....................... Statement of Comprehensive Income
........................ Statement of Changes in Net Assets
......................................... Statement of Cash Flows
Catatan Atas Laporan Keuangan .................................. 5 - 23 ............................ Notes to the Financial Statements
************************
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk
LAPORAN POSISI KEUANGAN
TANGGAL 31 DESEMBER 2022
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk
STATEMENT OF FINANCIAL POSITION
FOR THE YEAR DECEMBER 31, 2022
(Expressed in Rupiah)
Tahun yang Berakhir pada
tanggal 31 Desember/
Year Ended December 31
2022
Catatan/
Notes
2021
11.599.419.605
2b,4
7.445.080.497
ASET
Aset Lancar
Kas dan Setara Kas
Pinjaman kepada Mitra Binaan setelah
dikurangi penyisihan kerugian
penurunan nilai sebesar
Rp84.929.581.437
(2021: Rp83.373.615.274)
293.000.450.534
2c,2d,5
276.896.678.393
ASSETS
Current Assets
Cash and Cash Equivalents
Loan to Foster Partners
net of allowance for
impairment losses of
Rp84,929,581,437
(2021: Rp83,373,615,274)
Jumlah aset lancar
304.599.870.139
284.341.758.890
Total Current Assets
Aset Tidak Lancar
Aset Lain-lain
Pinjaman Bermasalah
setelah dikurangi penyisihan
penurunan nilai sebesar
Rp289.951.899.219
(2021: Rp295.929.999.474)
Jumlah aset tidak lancar
Non Current Asset
Other Asset
Troubled Loan
net of allowance for
impairment losses of
Rp289,951,899,219
2021: Rp295,929,999,474)
Total Non Current Assets
-
-
- 2f, 6
-
JUMLAH ASET
304.599.870.139
284.341.758.890
TOTAL ASSETS
LIABILITAS DAN ASET NETO
LIABILITAS
Liabilitas Lancar
Utang dan Liabilitas Lancar
Lainnya
Kelebihan Pembayaran Angsuran
380.916.088 2i,7
2h,8
203.691.711
372.611.905
396.999.537
JUMLAH LIABILITAS
584.607.799
769.611.442
ASET NETO
Tanpa Pembatasan dari
Pemberi Sumber Daya
Dengan Pembatasan dari
Pemberi Sumber Daya
304.015.262.340
283.572.147.448
-
-
LIABILITIES AND NET ASSETS
LIABILITIES
Current Liabilities
Payables and Other
Current Liabilities
Overpayment of Installments
TOTAL LIABILITIES
NET ASSETS
Without Restrictions from
Resource Provider
With Restrictions from
Resource Provider
JUMLAH ASET NETO
304.015.262.340 283.572.147.448
TOTAL NET ASSETS
JUMLAH LIABILITAS DAN
ASET NETO
304.599.870.139
284.341.758.890
TOTAL LIABILITIES AND
NET ASSETS
Catatan atas laporan keuangan terlampir merupakan
bagian integral dari laporan keuangan
The accompanying notes form an integral part of these
financial statements
1
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
LAPORAN PENGHASILAN KOMPREHENSIF
Untuk Tahun yang Berakhir pada Tanggal
31 Desember 2022
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
STATEMENT OF COMPREHENSIVE INCOME
For the Year ended
December 31, 2022
(Expressed in Rupiah)
Tahun yang Berakhir pada
tanggal 31 Desember/
Year Ended December 31
2022
Catatan/
Notes
2021
15.482.696.576
301.902.379
46.014.976
9
10
9.559.461.619
294.205.015
28.660.546
TANPA PEMBATASAN DARI
PEMBERI SUMBER DAYA
PENDAPATAN
Pendapatan Jasa Administrasi
Pinjaman
Pendapatan Bunga
Pendapatan Lain - lain
JUMLAH PENDAPATAN
15.830.613.931 9.882.327.180
PENDAPATAN/(BEBAN)
Pemulihan/(Kerugian) Penyisihan
Penurunan Nilai Pinjaman
Pendapatan/(Beban) Lainnya
4.422.134.092
190.366.869
5d
(6.154.150.201)
(168.114.440)
WITHOUT RESTRICTIONS
FROM RESOURCE PROVIDER
REVENUES
Loan Administration Service
Income
Interest Income
Other Income
TOTAL REVENUES
INCOME/(EXPENSES)
Recovery/(Allowance) for
Impairment of Loan
Other Income/(Expenses)
JUMLAH PENDAPATAN/(BEBAN)
4.612.500.961
(6.322.264.641)
TOTAL INCOME/(EXPENSES)
SURPLUS
20.443.114.892
3.560.062.539
SURPLUS
DENGAN PEMBATASAN DARI
PEMBERI SUMBER DAYA
PENGHASILAN KOMPREHENSIF
LAIN
TOTAL PENGHASILAN
KOMPREHENSIF
-
-
-
-
20.443.114.892
3.560.062.539
WITH RESTRICTIONS
FROM RESOURCE PROVIDER
OTHER COMPREHENSIVE
INCOME
TOTAL COMPREHENSIVE
INCOME
Catatan atas laporan keuangan terlampir merupakan
bagian integral dari laporan keuangan
The accompanying notes form an integral part of these
financial statements
2
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
LAPORAN PERUBAHAN ASET NETO
TANGGAL 31 DESEMBER 2022
(Disajikan dalam Rupiah)
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
STATEMENT OF CHANGES IN NET ASSETS
FOR YEAR DECEMBER 31, 2022
(Expressed in Rupiah)
Tahun yang Berakhir pada
tanggal 31 Desember/
Year Ended December 31
2022
Catatan/
Notes
2021
ASET NETO
TANPA PEMBATASAN DARI
PEMBERI SUMBER DAYA
NET ASSETS
WITHOUT RESTRICTIONS
FROM RESOURCE PROVIDER
Saldo awal
Surplus
283.572.147.448
20.443.114.892
280.012.084.909
3.560.062.539
Beginning balance
Surplus
Saldo akhir
Penghasilan komprehensif lain
304.015.262.340
-
283.572.147.448 Ending balance
Other comprehensive income
-
Jumlah
304.015.262.340
283.572.147.448 Total
DENGAN PEMBATASAN DARI
PEMBERI SUMBER DAYA
-
WITH RESTRICTIONS
FROM RESOURCE PROVIDER
-
JUMLAH ASET NETO
304.015.262.340
283.572.147.448
TOTAL NET ASSETS
Catatan atas laporan keuangan terlampir merupakan
bagian integral dari laporan keuangan
The accompanying notes form an integral part of these
financial statements
3
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
LAPORAN ARUS KAS
Untuk Tahun yang Berakhir pada Tanggal
31 Desember 2022
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
STATEMENT OF CASH FLOWS
For the Year ended
December 31, 2022
(Expressed in Rupiah)
AKTIVITAS OPERASI
Rekonsiliasi surplus
menjadi kas neto dari aktivitas operasi
Surplus
Rekonsiliasi:
(Pemulihan)/penambahan penyisihan
penurunan nilai pinjaman
Perubahan aset dan liabilitas
Pinjaman kepada mitra binaan
Kelebihan pembayaran angsuran
Utang dan liabilitas lancar lainnya
Biaya yang masih harus dibayar
Tahun yang Berakhir pada
tanggal 31 Desember/
Year Ended December 31
2022
2021
20.443.114.892
3.560.062.539
(4.422.134.092) 6.154.150.201
(11.681.638.049)
(193.307.826)
8.304.183
-
(5.875.563.464)
237.720.533
(2.209.369)
(541.750.000)
OPERATING ACTIVITIES
Reconciliation of surplus to
net cash from operating activities
Surplus
Reconciliation:
(Reversal)/additional allowance
for impairment of loan
Change in assets and liabilities
Loan to fosters partners
Overpayment of installments
Payables and other current liabilities
Accrued expenses
KAS NETO DITERIMA
UNTUK AKTIVITAS OPERASI 4.154.339.108
3.532.410.440
NET CASH FLOWS RECEIVED
TO OPERATING ACTIVITIES
KENAIKAN
KAS DAN SETARA KAS
KAS DAN SETARA KAS PADA
AWAL TAHUN
KAS DAN SETARA KAS PADA
AKHIR TAHUN
4.154.339.108 3.532.410.440
CASH AND CASH EQUIVALENTS
INCREASE IN
7.445.080.497
3.912.670.057
11.599.419.605 7.445.080.497
CASH AND CASH EQUIVALENTS
AT BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS
AT END OF YEAR
Catatan atas laporan keuangan terlampir merupakan
bagian integral dari laporan keuangan
The accompanying notes form an integral part of these
financial statements
4
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
1.
INFORMASI MENGENAI UNIT COMMUNITY
DEVELOPMENT CENTER
1.
INFORMATION
DEVELOPMENT CENTER UNIT
OF
COMMUNITY
a. Pendirian dan Informasi Umum
a. Establishment and General Information
dan
Perseroan
Lingkungan
Indonesia Tbk
Pusat Pengelolaan Program Tanggung Jawab
(Community
Sosial
Development Center) (“CDC”) didirikan oleh
(Persero)
Perusahaan
PT Telekomunikasi
(BUMN
Pembina) melalui Peraturan Perusahaan
Nomor: KD. 61/ PS150/ CTG-10/ 2003 tentang
Pembentukan Organisasi Pusat Pengelola
Program Kemitraan dan Program Bina
Lingkungan (Community Development Center).
Peraturan Perusahaan ini telah beberapa kali
diubah terakhir dengan Peraturan Direktur
Human
Nomor:
Capital Management
PR.202.60/
r.02/ HK200/ COP-A2000000/
2021, tanggal 25 November 2021, tentang
Organisasi Community Development Center.
dan
Perseroan
Lingkungan
Pusat Pengelolaan Program Tanggung Jawab
(Community
Sosial
Development Center) (“CDC”) was established
by
(Persero)
Perusahaan
PT Telekomunikasi
Indonesia Tbk (“Foster
SOE”) based on Decree of the Directors
Number: 61/ PS150/ CTG-10/ 2003 regarding
Organization of Pusat Pengelola Program
Kemitraan dan Program Bina Lingkungan
(Community
Center)
Establishment. This company regulation has
been amended several times, most recently
with Decree of the Director of Human Capital
r.02/
Management Number: PR.202.60/
HK200/
dated
COP-A2000000/
November 25, 2021 regarding Organization of
Community Development Center.
Development
2021
CDC didirikan sebagai
implementasi dari
Keputusan Menteri Badan Usaha Milik Negara
(“BUMN”) No. KEP-236/ MBU/ 2003 tanggal
17 Juni 2003 tentang Program Kemitraan
BUMN dan Usaha Kecil dan Program Bina
Lingkungan. Keputusan Menteri BUMN
tersebut didasarkan pada Undang-Undang
Republik Indonesia No. 19 Tahun 2003 tentang
penyisihan
laba untuk pembinaan usaha
kecil/koperasi serta pembinaan masyarakat.
CDC was established as an implementation
from the Decree of Minister of State-Owned
Enterprises (“SOE”) No. KEP-236/MBU/2003
dated June 17, 2003
regarding SOE’s
Partnership Program and Small Enterprises
and Community Development Program. The
Decree of Minister SOE was based on The Law
of Republic of Indonesia No. 19 Tahun 2003
regarding allowance from profit to develop
small/cooperative business and community
development.
Indonesia
Telekomunikasi
Decree
On April 27, 2007, Ministry of SOE issued PER-
05/MBU/2007 replaced the Decree of Minister
of SOE No. KEP-236/MBU/2003. As an
implementation of PER-05/MBU/2007,
the
Directors of Perusahaan Perseroan (Persero)
Tbk
PT
issued
Directors
of
No. KD. 30/PR000/COP-B0030000/2007 dated
regarding Management of
June 6, 2007
Partnership
Community
Development Program which then is amended
No.
by
of
KD.21/PR0000/COP-B0030000/2010
dated
April 19, 2010 regarding Management of
Community
Partnership
Development Program.
Directors
Program
Program
Decree
and
and
the
the
Sebagai
Perseroan
Pada tanggal 27 April 2007, Kementerian
BUMN memberlakukan PER-05/MBU/2007
menggantikan Keputusan Menteri BUMN
No. KEP-236/MBU/2003.
bentuk
implementasi dari PER-05/MBU/2007, Direksi
(Persero)
Perusahaan
PT Telekomunikasi
Tbk
mengeluarkan Keputusan Direksi No. KD. 30/
PR000/ COP - B0030000/ 2007 tanggal 6 Juni
2007 tentang Pengelolaan Program Kemitraan
dan Program Bina Lingkungan yang kemudian
diubah dengan Keputusan Direksi No. KD.21/
PR000/ COP-B0030000/2010 tanggal 19 April
2010 tentang Pengelolaan Program Kemitraan
dan Program Bina Lingkungan.
Indonesia
5
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
1.
INFORMASI MENGENAI UNIT COMMUNITY
DEVELOPMENT CENTER (lanjutan)
1.
INFORMATION
DEVELOPMENT CENTER UNIT (continued)
OF
COMMUNITY
a.
Pendirian dan Informasi Umum (lanjutan)
a. Establishment and General
Information
(continued)
pada
perubahan
PER-05/MBU/2007 telah diubah beberapa kali
termasuk
tanggal
10 September 2013, Kementerian BUMN
mengeluarkan PER-08/MBU/2013
tentang
perubahan keempat atas Peraturan Menteri
BUMN No. PER-05/MBU/2007 tentang Program
Kemitraan BUMN dengan Usaha Kecil dan
Program Bina Lingkungan. Pada tanggal 22 Mei
2015, Kementerian BUMN telah menerbitkan
Peraturan Menteri BUMN No: PER-
07/MBU/05/2015 tentang Program Kemitraan
Badan Usaha Milik Negara dengan Usaha Kecil
dan Program Bina Lingkungan sebagai
pengganti PER-05/MBU/2007.
Pada tanggal 3 Juli 2015, Kementerian BUMN
menetapkan Peraturan Menteri BUMN
No: PER-09/MBU/07/2015 menggantikan
Peraturan Menteri BUMN No: PER-
07/MBU/05/2015.
Pada tanggal 19 Desember 2016, Kementerian
BUMN memberlakukan PER-03/MBU/12/2016
sebagai
terhadap
Peraturan Menteri BUMN No: PER-
09/MBU/07/2015.
perubahan
pertama
Pada tanggal 5 Juli 2017, Kementerian BUMN
memberlakukan
PER-02/MBU/07/2017
sebagai perubahan kedua atas Peraturan
Menteri BUMN No: PER-09/MBU/07/2015.
Pada tanggal 2 April 2020, Kementerian BUMN
memberlakukan
PER-02/MBU/04/2020
sebagai perubahan ketiga atas Peraturan
Menteri BUMN No: PER-09/MBU/07/2015.
Pada tanggal 20 April 2021, Kementerian
BUMN memberlakukan PER-05/MBU/04/2021
tentang Program Tanggung Jawab Sosial dan
Lingkungan (TJSL).
15
tanggal
Pada
2022,
Kementerian BUMN memberlakukan PER-
06/MBU/09/2022 tentang Program Tanggung
Jawah Sosial dan Lingkungan (TJSL).
September
Kantor pusat CDC berdomisili di Graha Merah
Putih PT Telkom Indonesia (Persero) Tbk,
Jalan Gatot Subroto Kav. 52 Jakarta.
Community Development (“CD”) Regional dan
CD Witel berdomisili di Kantor Telkom Regional
dan Kantor Telkom Wilayah (“Witel”) yang
tersebar di seluruh Indonesia.
6
the
regarding
for
PER-05/MBU/2007 has been amended
several times including the amendment on
September 10, 2013, Minister of SOE issued
PER-08/MBU/2013
fourth
amendment of regulation of Ministry of SOE No.
PER-05/MBU/2007 regarding SOE Partnership
Program with Small Business and Community
Development Program. On May 22, 2015,
Minister of SOE issued regulation No: PER-
07/MBU/2015
regarding SOE Partnership
Program with Small Business and Community
Development
PER-
05/MBU/2007.
replaced
Program
On July 3, 2015, Ministry of SOE issued
PER-09/MBU/07/2015 replaced the Decree of
Minister of SOE No. PER-07/MBU/2015.
On December 19, 2016, Ministry of SOE issued
PER-03/MBU/12/2016 as first amendments to
Regulation of Ministry of SOE No: PER-
09/MBU/07/2015.
On July 5, 2017, Ministry of SOE issued
PER-02/MBU/07/2017 as second amendment to
Ministry
SOE
Regulation
No: PER-09/MBU/07/2015.
of
On April 2, 2020, Ministry of SOE issued
PER-02/MBU/04/2020 as third amendment to
Ministry
SOE
Regulation
No: PER-09/MBU/07/2015.
of
On April 20, 2021, Ministry of SOE issued
PER-05/MBU/04/2021 regarding Social and
Environmental Responsibility Program (TJSL).
On September 15, 2022, Ministry of SOE issued
PER-06/MBU/09/2022 regarding Social and
Environmental Responsibility Program (TJSL)
CDC head office is located at Graha Merah Putih
PT Telkom Indonesia (Persero) Tbk, Gatot
Subroto Kav.
Jakarta. Community
Development (“CD”) Regional and CD Witel is
located in Telkom Regional Office and Telkom
Wilayah Office (“Witel”) Telkom which spread all
over Indonesia.
52
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
1.
INFORMASI MENGENAI UNIT COMMUNITY
DEVELOPMENT CENTER (lanjutan)
1.
INFORMATION
DEVELOPMENT CENTER UNIT (continued)
OF
COMMUNITY
b. Kegiatan Utama
b. Primary Activities
Salah satu kegiatan utama yang dilakukan
CDC adalah pembiayaan dan pembinaan
Usaha Mikro dan Usaha Kecil (UMK) melalui
Program Pendanaan UMK (PUMK).
One of CDC’s primary activities are financing
and developing Micro and Small Business
(SME) through Program Pendanaan UMK
(PUMK).
c. Sumber Dana
c. Fund Resources
Sumber dana Program PUMK berasal dari
anggaran yang diperhitungkan sebagai biaya
Perusahaan
(Persero)
PT Telekomunikasi
Indonesia Tbk (BUMN
Pembina) dan hasil pengembangan dana
program.
Perseroan
PUMK program fund resources is from budget
which has been allocated by Perusahaan
Perseroan
(Persero) PT Telekomunikasi
Indonesia Tbk’s (Foster SOE) expenses and
additional fund sourced from fund management
activities.
d. Susunan Pengelola
d. Management Structures
tanggal
Susunan Pengelola CDC pada
31 Desember 2022 dan 2021 adalah sebagai
berikut:
Management structures of CDC as of
December 31, 2022 and 2021 is as follows:
31 Desember/December 31
2022
2021
Hery Susanto
Hery Susanto
M. Wahyudi
Soni Galih Riadi
M. Wahyudi
Soni Galih Riadi
Senior General Manager
Pengelola Fungsi Dukungan:
Senior Manager Perencanaan
dan Pengendalian
Senior Manager Keuangan
PGS Senior Manager
Senior General Manager
Supporting Management:
Senior Manager of Planning and
Controlling
Senior Manager of Finance
Senior Manager of
Pemberdayaan UMK M. Wahyudi
Romles Simanjuntak
SME Empowerment Program -
Senior Manager
Pemberdayaan Sosial
dan Lingkungan
Senior Manager
Suharsono
Suharsono
Rumah BUMN Bambang Febriansyah Bambang Febriansyah
ad interim
Senior Manager of Social and
Environment Empowerment
Senior Manager of
Rumah BUMN
7
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
1.
INFORMASI MENGENAI UNIT COMMUNITY
DEVELOPMENT CENTER (lanjutan)
1.
INFORMATION
DEVELOPMENT CENTER UNIT (continued)
COMMUNITY
OF
d. Susunan Pengelola (lanjutan)
d. Management Structure (continued)
Berdasarkan
KD.21/PR000/COP-B0030000/
2010 tentang Pengelolaan Program Kemitraan
dan Program Bina Lingkungan yang telah diubah
dengan PD.703.00/r.00/HK200/CDC-A1000000/
tentang
2021
tanggal 31 Desember 2021
Program Tanggung
dan
Lingkungan, dimana CDC adalah Unit Kerja
Pengelola Program TJSL di bawah supervisi
Direktur Human Capital Management (HCM).
Pada tanggal 31 Desember 2022 dan 2021,
Direktur HCM PT Telkom Tbk adalah Bapak
Afriwandi.
Jawab Sosial
Based on KD.21/PR000/COP-B0030000/2010
of Partnership
regarding Management
Program and Community Development
Program which was amended by PD.703.00/
r.00/ HK200/ CDC-A1000000/2021 dated
December,31 2021 where CDC is the TJSL
Program Management Unit is supervised by
the Director of Human Capital Management
(HCM). As of December 31, 2022 and 2021,
the Director of HCM of PT Telkom Tbk is Mr.
Afriwandi.
Jumlah karyawan pada tanggal 31 Desember
2022 dan 2021 adalah sebagai berikut:
Number of employees as of December 31,
2022 and 2021 are as follows:
31 Desember / December 31
2022
2021
CDC Pusat
33
31
CDC Corporate
Seluruh pegawai adalah pegawai
yang
memperoleh gaji dan manfaat lainnya dari BUMN
Pembina sehingga penerapan Imbalan Kerja
(PSAK No. 24) dilaksanakan dan menjadi beban
Pembina.
Pemotongan dan penyetoran atas pajak
penghasilan pasal 21 atas pegawai BUMN
Pembina yang ditempatkan di CDC dilakukan
oleh BUMN Pembina.
All employees are employees who earn salaries
and other benefits from the Foster SOE so that
the Employee Benefits (PSAK No. 24) is
implemented by and charged to the Foster
SOE.
Witholding and payment
tax
Article 21 of the Foster SOE’s employee who is
assigned at CDC are performed by the Foster
SOE.
income
for
e. Otorisasi Penerbitan Laporan Keuangan
e. Authorization of the Issuance of Financial
Statement
Laporan keuangan
telah diselesaikan dan
disahkan untuk diterbitkan oleh Pengelola CDC
pada 21 Februari 2023.
The financial statements were completed and
authorized for issuance by CDC’s Management
on February 21, 2023.
8
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
2.
IKHTISAR KEBIJAKAN AKUNTANSI YANG
SIGNIFIKAN
2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
Kebijakan akuntansi signifikan dan diterapkan dalam
menyusun
laporan keuangan untuk tahun yang
berakhir pada tanggal 31 Desember 2022 adalah
sebagai berikut:
The significant accounting principles which are
applied consistently
in the preparation of the
financial statements for year ended December 31,
2022 are as follows:
a. Dasar Penyusunan Laporan Keuangan
a. Basis of Preparation of Financial Statements
disusun
keuangan
Laporan
berdasarkan
Standar Akuntansi Keuangan Entitas Tanpa
Akuntabilitas Publik
yang
diterbitkan oleh Dewan Standar Akuntansi
Keuangan - Ikatan Akuntan Indonesia.
(SAK ETAP)
Penerapan SAK ETAP atas penyusunan laporan
keuangan didasarkan pada Surat Edaran
Menteri Negara BUMN No: SE-02/MBU/Wk/
2012
tentang
tanggal 23 Februari 2012
Penetapan Pedoman Akuntansi Program
Kemitraan dan Bina Lingkungan yang berlaku
mulai tahun 2012.
Laporan keuangan disusun dengan dasar akrual,
kecuali untuk beberapa akun tertentu yang
lain
disusun
sebagaimana
kebijakan
akuntansi terkait.
pengukuran
dalam
berdasarkan
diuraikan
The financial statement is prepared based on
Non - Publicly Accountable Entities Financial
Accounting Standards (SAK ETAP) that was
issued by The Financial Accounting Standard
Board - Indonesian Institute of accountants.
in
of SOE Circular
the
implementation of SAK ETAP
The
preparation of the financial statement is based
on Minister
Letter
No: SE-02/MBU/Wk/2012 dated February 23,
2012 regarding Determination Guidance of
Accounting Standard for Partnership Program
and Community Development that starting from
2012.
The financial statements are prepared on the
accrual basis, except for certain accounts that
are prepared based on other measurement as
explained in related accounting policy.
Laporan arus kas yang disajikan dengan
menggunakan metode
langsung,
menyajikan penerimaan dan pengeluaran kas
dan setara kas yang diklasifikasikan ke dalam
aktivitas operasi, investasi dan pendanaan.
tidak
The statements of cash flows are presented
using the indirect method, presenting cash
receipt and payment and cash equivalents that
are classified into operating, investing and
financing activities.
Tahun buku CDC adalah 1 Januari
31 Desember.
-
The financial reporting period of CDC is January
1 - December 31.
Mata uang yang digunakan pada
laporan
keuangan adalah Rupiah yang juga merupakan
mata uang fungsionalnya.
in
Amounts
the
financial statements are
presented in Rupiah which also represents its
functional currency.
b. Kas dan Setara Kas
b. Cash and Cash Equivalents
Kas dan setara kas terdiri atas bank.
Cash and cash equivalents consist of cash in
banks.
9
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
2.
IKHTISAR KEBIJAKAN AKUNTANSI YANG
SIGNIFIKAN (lanjutan)
2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)
c. Pinjaman
c. Loan
Pinjaman pada awalnya diakui sebesar nilai
wajar dan selanjutnya diukur pada biaya
perolehan diamortisasi, setelah dikurangi
penyisihan
nilai. Penyisihan
penurunan nilai dibentuk berdasarkan evaluasi
Pengurus terhadap tingkat ketertagihan saldo
pinjaman.
penurunan
Pinjaman kepada BUMN Pembina Lain atau
Lembaga Penyalur merupakan pinjaman yang
diberikan kepada unit TJSL atau Lembaga
Penyalur sebagai bentuk sinergi antar unit
TJSL.
Pinjaman kepada mitra binaan dicatat sebagai
pinjaman sebesar pokok pinjaman yang
diberikan dan jasa administrasi pinjaman yang
telah jatuh tempo sesuai dengan kontrak.
Pendapatan jasa administrasi pinjaman dicatat
sebagai pinjaman kepada mitra binaan dan
pendapatan secara akrual untuk pinjaman yang
berkualitas lancar dan kurang lancar.
Pinjaman kepada mitra binaan dan BUMN
Pembina Lain atau Lembaga Penyalur disajikan
dalam laporan posisi keuangan pada kelompok
aset lancar sebesar jumlah yang diharapkan
dapat ditagih dari mitra binaan walaupun
pengembalian pinjaman yang disepakati akan
diterima melebihi satu tahun setelah akhir
periode pelaporan.
Penggolongan kualitas pinjaman ditetapkan
sebagai berikut:
i.
tepat waktu atau
pembayaran
Lancar adalah pembayaran angsuran
pokok dan jasa administrasi pinjaman
terjadi
dilakukan
keterlambatan
angsuran
pokok dan/atau jasa administrasi yaitu
selambat-lambatnya 30 (tiga puluh) hari
tempo pembayaran
dari
angsuran, sesuai dengan perjanjian yang
telah disepakati
tanggal
jatuh
ii. Kurang
Lancar
apabila
pembayaran
terjadi
keterlambatan
angsuran
pokok dan/atau jasa administrasi pinjaman
yang telah melampaui 30 (tiga puluh) hari
dan belum melampaui 180
(seratus
delapan puluh) hari dari tanggal jatuh
tempo pembayaran angsuran sesuai
dengan perjanjian yang telah disepakati.
Loan is initially measured based on fair values
and subsequently measured at amortized cost,
after deducted by allowance for impairment
losses. The allowance for impairment is based
on Management’s evaluation on the collectibility
of these loans.
Loan to Other Foster SOE or Distribution
Partners represents loans given to TJSL unit or
Distributing Partners as synergy form among
TJSL’s units.
Loan to foster partners are recognized in the
amount of principal and administration service
income earned as agreed in the contract.
Administration service income are recorded as
loan to foster partners and as revenues on
accrual basis for loans classified as current and
substandard loan.
Loan to foster partners and Other Foster SOE or
Distributing Partners are presented in statement
of financial position as a current asset at its
realizable value although the agreed repayment
of loan may be more than one year after
reporting period.
The classification of
collectibility are as follows:
loan based on
its
i. Current represents principal installment and
administration service income payment are
paid on time or those late payments of
maximum 30 (thirty) days from the payment
due date as agreed with the agreement.
ii. Substandard when late payment of principal
and/or administration
income
payment are between 30 (thirty) days and
180 (one hundred and eighty) days from the
payment due date of installment as agreed in
the agreement.
service
10
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
2.
IKHTISAR KEBIJAKAN AKUNTANSI YANG
SIGNIFIKAN (lanjutan)
c. Pinjaman (lanjutan)
2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)
c. Loan (continued)
Penggolongan kualitas pinjaman ditetapkan
sebagai berikut: (lanjutan)
The classification of
collectibility are as follows: (continued)
loan based on
its
iii. Diragukan apabila terjadi keterlambatan
pembayaran angsuran pokok dan/atau
jasa administrasi pinjaman yang telah
melampaui 180 (seratus delapan puluh)
hari dan belum melampaui 270 (dua ratus
tujuh puluh) hari dari tanggal jatuh tempo
pembayaran angsuran sesuai dengan
perjanjian yang telah disepakati.
iv. Macet apabila
terjadi keterlambatan
pembayaran angsuran pokok dan/atau
jasa administrasi pinjaman yang telah
melampaui 270 (dua ratus tujuh puluh) hari
tanggal jatuh tempo pembayaran
dari
angsuran sesuai dengan perjanjian yang
telah disepakati.
iii. Doubtful when late payment of principal
and/or administration service
income
payment are between 180 (one hundred
and eighty) days and 270 (two hundred and
seventy) days from the payment due date of
installment as agreed in the agreement.
iv. Loss when late payment of principal and/ or
administration service income payment
over 270 (two hundred and seventy) days
from the payment due date of installment
as agreed in the agreement.
d. Penyisihan Penurunan Nilai Pinjaman
d. Allowance for Impairment of Loan
Penyisihan pinjaman merupakan penyisihan
atas pinjaman yang mungkin tidak tertagih.
Penyisihan penurunan nilai pinjaman dibentuk
berdasarkan taksiran Pengelola CDC terhadap
tingkat ketertagihan saldo pinjaman.
Allowance for impairment of loan represents
allowance for doubtful loan. This allowance is
calculated based on the Management’s CDC
estimation of their collectibility.
signifikan
jumlahnya
CDC pertama kali menentukan apakah terdapat
bukti objektif mengenai penurunan nilai secara
individual atas pinjaman yang signifikan secara
individual atau secara kolektif untuk penerimaan
yang
secara
tidak
individual. Jika CDC menentukan tidak terdapat
bukti objektif mengenai penurunan nilai atas
aset keuangan yang dinilai secara individual,
terlepas aset keuangan tersebut signifikan atau
tidak, maka CDC memasukkan piutang tersebut
ke dalam kelompok pinjaman yang memiliki
karakteristik risiko kredit yang sejenis dan
menilai penurunan nilai kelompok
tersebut
secara kolektif.
CDC firstly determines whether there is objective
evidence that there is impairment, individually for
significat loan or collectively for loan which are
insignificant. If CDC decides that there is no
objective evidence of
impairment,
regardless
loans are significant or
insignificant, CDC classifies these loan as having
similar credit risk characteristics and determining
the impairment collectively.
individual
those
Penyisihan pinjaman dihitung berdasarkan
estimasi kerugian yang tidak dapat ditagih yaitu
secara kolektif berdasarkan prosentase tertentu
tingkat ketertagihan (collection) data historis
yang ada (minimal 2 tahun). Pinjaman yang
penurunan nilainya dinilai secara individual dan
untuk itu kerugian penurunan nilai diakui, tidak
termasuk dalam penilaian penurunan nilai
secara kolektif.
Allowance for impairment of loan is calculated
based on estimated uncollectible loss, which
collectively based on specific percentage of
available historical collectibility rate (2 years of
historical data at minimum). Loan which are
impaired
individually and of that loss are
recognised, are not included in the collective
impairment evaluation.
11
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
2.
IKHTISAR KEBIJAKAN AKUNTANSI YANG
SIGNIFIKAN (lanjutan)
2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)
e. Aset Tetap Tidak Berfungsi
e. Fixed Asset Not in Use
Aset tetap diakui berdasarkan harga perolehan
rugi
dikurangi akumulasi penyusutan dan
penurunan nilai. Aset tetap disusutkan dengan
menggunakan metode garis lurus berdasarkan
estimasi masa manfaat aset tetap dengan tarif
penyusutan sebagai berikut:
Fixed asset is recognized at their historical costs
less accumulated depreciation and loss from
impairment. Fixed asset is depreciated using
straight-line method based on the estimated
useful life and depreciation rate as follow:
Jenis Aset
Komputer
Inventaris kantor
Tarif Penyusutan/
Depreciation Rate
Masa Manfaat/
Useful Life
50%
50%
2
2
Asset types
Computers
Office equipment
Aset tetap yang sudah tidak dapat digunakan
atau dioperasikan karena rusak atau sebab lain
diklasifikasikan sebagai aset
tidak
berfungsi.
tetap
Seluruh aset tetap dalam kondisi tidak dapat
digunakan. Dengan demikian, aset
tetap
tersebut diklasifikasikan ke dalam aset tetap
tidak berfungsi.
Fixed assets that can not be used or operated
due to damaged or other reasons are classified
as fixed assets not in use.
All fixed assets are not in use. Therefore, such
fixed assets classified as fixed assets not in use.
Pada
tanggal 31 Desember 2022, nilai
perolehan aset tetap adalah Rp83.916.650 dan
nilai buku bersih aset tetap adalah nihil.
As of December 31, 2022, acquisition cost of
fixed assets not in use is Rp83,916,650 and net
book value of fixed asset is zero.
dengan
Terkait dengan aset tetap tidak berfungsi yang
nilai bukunya telah nihil tersebut di atas, SGM
CDC telah mengirim Surat kepada Kementerian
BUMN
No:Tel.243/KU710/CDC-
A1000000/2012 tanggal 19 November 2012,
perihal Permohonan Ijin Penghapusan Aset
Tetap Unit TJSL Telkom tersebut. Namun
demikian sampai dengan tanggal penyelesaian
laporan keuangan belum diperoleh
izin
penghapusan tersebut.
In relation to fixed assets not in use with zero
book value, SGM CDC has submitted a Letter
No: Tel. 243/KU710/CDC-A1000000/2012 dated
November 19, 2012 to the Ministry of SOE
requesting for Approval to write-off TJSL Telkom
the
Unit’s
completion date of the financial statements, an
approval has not been received.
fixed assets. However, until
f.
Pinjaman Bermasalah
f. Troubled Loan
Pinjaman bermasalah merupakan pinjaman
macet yang telah diupayakan pemulihannya
dengan penjadwalan kembali (rescheduling)
persyaratan
dan
peninjauan
(reconditioning), namun
terpulihkan.
Pinjaman bermasalah disajikan sebesar nilai
pokok pinjaman dengan besarnya alokasi
penyisihan sebesar 100% dari saldo pinjaman
bermasalah.
kembali
tidak
cara
Tata
bermasalah mengacu
Menteri BUMN.
penghapusbukuan
pinjaman
kepada Peraturan
Troubled loan represents loss loan which has
been attempted to be recovered by rescheduling
and reconditioning but cannot be recovered.
Troubled loan will be represented at loan
principal value with 100% of troubled loan
balance.
The procedures to write-off the troubled loan
adhere to the Ministry of SOE’s regulations.
12
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
2.
IKHTISAR KEBIJAKAN AKUNTANSI YANG
SIGNIFIKAN (lanjutan)
g. Beban Akrual
2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)
g. Accrued Expenses
Beban akrual adalah beban yang masih harus
dibayar CDC yang timbul karena diterimanya
jasa namun belum dibayar.
Accrued expenses are expenses that must be
paid by CDC which occur due to service
received but no payment was made.
h. Kelebihan Pembayaran Angsuran
h. Overpayment of Installments
Kelebihan pembayaran angsuran adalah
penerimaan angsuran yang melebihi saldo
pinjaman kepada mitra binaan. Kelebihan
pembayaran angsuran diakui dan disajikan
sebagai liabilitas pada saat setoran diterima.
Kelebihan pembayaran angsuran setiap Mitra
Binaan sampai dengan nilai Rp100.000 diakui
sebagai Pendapatan
Lain-lain Program
Kemitraan, sesuai dengan Peraturan Direktur
Human
Nomor:
Capital Management
PR.702.01.01/r.01/PR000/CDC-A1000000/
2021 tanggal 1 April 2021 tentang Petunjuk
Pelaksanaan Operasional Program Kemitraan
dan Program Bina Lingkungan.
of
installments
Overpayment
represents
repayment from foster partners which exceeds
its
is
loan balance. This overpayment
recognized and presented as liability when the
installment is received.
Overpayment of installment from each Foster
Partners to maximum amount of Rp100,000 is
recognized as Partnership Program Other
Income, based on Decree of the Human Capital
Number:
Management
PR.702.01.01/r.01/PR000/CDC-A1000000/
2021 dated on April 1, 2021
regarding
Operational Guidelines of Partnership Program
and Community Development Program.
Director
i. Utang dan Liabilitas Lancar Lainnya
i. Payables and Other Current Liabilities
Utang dan liabilitas lancar lainnya diakui pada
saat terjadinya transaksi atau saat perjanjian
kontrak dan dicatat sebesar nilai transaksi atau
perjanjian kontrak.
Payables and other current
liabilities are
recognized when transactions occur or when
contract are completed and recognized based
on transaction amount or contracts.
j. Aset Neto
Aset neto diklasifikasikan menjadi aset neto
tanpa pembatasan dari pemberi sumber daya
dan aset neto dengan pembatasan dari pemberi
sumber daya. Aset neto dengan pembatasan
dari pemberi sumber daya adalah aset yang
penggunaannya dibatasi untuk program
tertentu yang tidak dapat digunakan untuk
kegiatan lainnya. Aset neto tanpa pembatasan
dari pemberi sumber daya adalah aset yang
penggunaannya tidak dibatasi untuk tujuan
tertentu.
j. Net Assets
Net assets are classified into net assets without
restrictions from resource provider and net
assets with restrictions from resource provider.
Net assets with restrictions
from resource
provider represent assets that can only be
utilized limited to spesific program purpose. Net
assets without
resource
restrictions
provider represent assets that can be utilized
without being limited for specific purposes.
from
13
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
2.
IKHTISAR KEBIJAKAN AKUNTANSI YANG
SIGNIFIKAN (lanjutan)
2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (continued)
k. Pendapatan dan Beban
k. Revenue and Expenses
Pendapatan Jasa Administrasi Pinjaman
Loan Administration Service Income
Pendapatan jasa administrasi pinjaman diukur
dan dicatat sebesar nilai yang telah jatuh tempo
sesuai dengan kontrak untuk pinjaman dengan
status lancar dan kurang lancar.
Administration service income is measured and
recognized as incurred as stated in the contract
for current and substandard loan.
Pendapatan bunga
Interest income
Pendapatan bunga diakui secara akrual.
Pendapatan bunga diukur dan dicatat sebesar
nilai yang telah ditentukan.
Interest income is recognized based on accrual
is measured and
basis.
recorded
amount
stipulated
determined.
based on
Interest
income
Beban
Expenses
Beban diakui pada saat terjadinya.
Expense is recognised as incurred.
Dana pembinaan kemitraan diakui saat
pembayaran dana tersebut.
Fostering partnership funds are recognized
when the funds are distributed.
Sebagai implementasi pemberlakuan PER-
05/MBU/04/2021, beban pembinaan kemitraan
menjadi bagian dari biaya Program TJSL
BUMN Pembina.
As implementation of PER-05/MBU/04/2021,
Fostering Partnership Funds become part of the
expense of the Foster SOE’s TJSL Program.
l.
Perpajakan
l. Taxation
Pajak yang muncul dari seluruh transaksi yang
terjadi di CDC menjadi beban CDC dan
dilaporkan atas nama BUMN Pembina.
Tax transactions in relation to CDC are charged
to CDC and reported by the Foster SOE.
3. PENGGUNAAN PERTIMBANGAN, ESTIMASI
3. ACCOUNTING JUDGEMENTS, ESTIMATION,
DAN ASUMSI
a. Pertimbangan
AND ASSUMPTION
a. Judgements
Penentuan mata uang fungsional
The determination of functional currency
Mata uang fungsional CDC adalah mata uang
dari lingkungan ekonomi primer di mana CDC
beroperasi. Mata uang tersebut adalah mata
uang yang mempengaruhi pendapatan dan
beban dari
jasa yang diberikan. CDC
menentukan bahwa mata uang fungsionalnya
adalah Rupiah.
CDC’s functional currency is currencies from
premier economic environment where CDC
operates. The related currency is currency that
gives influence on revenues and expenses from
services given. CDC determines that their
functional currency is Rupiah.
14
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
3. PENGGUNAAN PERTIMBANGAN, ESTIMASI
DAN ASUMSI (lanjutan)
3. ACCOUNTING JUDGEMENTS, ESTIMATION,
AND ASSUMPTION (continued)
a. Pertimbangan (lanjutan)
a. Judgements (continued)
Penyisihan penurunan nilai pinjaman
Allowance for impairment of loan
Apabila terdapat bukti objektif bahwa rugi
penurunan nilai telah terjadi atas pinjaman,
CDC mengestimasi penyisihan
kerugian
penurunan nilai pinjaman yang secara khusus
tidak
diidentifikasi
tertagih. Tingkat penyisihan ditelaah oleh
Pengelola berdasarkan
faktor-faktor yang
mempengaruhi tingkat tertagihnya pinjaman
tersebut.
kemungkinan
terdapat
If there is objective evidence that losses because
of impairment have incurred on loan, CDC
estimates an allowance for impairment loss of
those loan specifically identified as uncollectible.
The allowance examined by Management based
several factors influencing of loan collectibility.
CDC menggunakan pertimbangan berdasarkan
fakta dan situasi yang tersedia, termasuk tetapi
tidak terbatas pada, jangka waktu hubungan
CDC dengan mitra binaan dan status kualitas
pinjaman pelanggan (Catatan 5 dan 6).
CDC uses judgements based on available facts
and situations, including but not limited to,
CDC’s period of relationship with foster partners
and foster partner’s loan quality status (Notes 5
and 6).
b. Estimasi dan Asumsi
b. Estimations and Assumptions
Penyisihan penurunan nilai pinjaman
Allowance for impairment of loan
terbaik yang
CDC menggunakan pertimbangan berdasarkan
fakta-fakta
tersedia untuk
mengakui penyisihan secara individu atas mitra
binaan dan lembaga penyalur terhadap jumlah
yang jatuh tempo untuk menurunkan pinjaman
individu jumlah yang diharapkan dapat ditagih.
Pencadangan secara individu ini ditelaah jika
terdapat informasi tambahan yang diterima
yang
yang
diestimasikan.
mempengaruhi
jumlah
CDC uses judgement based on best facts
available to recognize individual allowance for
foster partners and distributing partners to
adjust the individual loan to its realizable
amount. This
individual allowance will be
assessed if there is additional information
received which affect the estimated amount.
MB,
yang
CDC juga melakukan penilaian penyisihan
penurunan nilai secara kolektif terhadap risiko
dikelompokkan
pinjaman
berdasarkan karakteristik pinjaman yang sama,
tidak diidentifikasi secara
yang meskipun
spesifik memerlukan
tertentu,
memiliki risiko tidak tertagih yang lebih besar
dibandingkan dengan pinjaman yang diberikan
kepada MB lainnya. Penyisihan penurunan nilai
pinjaman dihitung berdasarkan kajian nilai
terkini dan historis tingkat ketertagihan dari
pinjaman.
cadangan
loan
risks,
regardless
the allowance
CDC also assesses
for
impairment loss collectively, grouped by the
requires
same
individually identified of allowance, have higher
uncollectible risk compares to loan provided to
other foster partners. Allowance for impairment
of loan is measured based on the evaluation of
loan
current value and historical rate of
collectability.
15
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
3. PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN
3. ACCOUNTING JUDGEMENTS, ESTIMATION,
ASUMSI (lanjutan)
AND ASSUMPTION (continued)
b. Estimasi dan Asumsi (lanjutan)
b. Estimations and Assumptions (continued)
Penyisihan pinjaman dihitung berdasarkan
estimasi kerugian yang tidak dapat ditagih yaitu
secara kolektif berdasarkan prosentase tertentu
tingkat ketertagihan (collection) data historis
yang ada (minimal 2 tahun). Penyisihan ini
disesuaikan
untuk
mencerminkan hasil aktual dan estimasi
(Catatan 5 dan 6).
berkala
secara
Allowance for impairment of loan is recognised
based on the estimation of uncollectible amount,
which is done collectively based on a specific
percentage of the two-year-minimum historical
rate of loan collectibility. This allowance is
adjusted periodically to reflect actual result and
estimation (Notes 5 dan 6).
4. KAS DAN SETARA KAS
4. CASH AND CASH EQUIVALENTS
31 Desember / December 31
2022
2021
Kas di Bank:
PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia (Persero) Tbk 3.301.996.025
5.601.276.696 3.390.277.752
4.054.802.745
PT Bank Syariah Indonesia (Persero) Tbk 2.696.146.884 -
Cash in Banks:
PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia (Persero) Tbk
PT Bank Syariah Indonesia (Persero) Tbk
Jumlah Kas dan Setara Kas 11.599.419.605
7.445.080.497
Total Cash and Cash Equivalents
5. PINJAMAN KEPADA MITRA BINAAN
5. LOAN TO FOSTER PARTNERS
a. Pinjaman kepada Mitra Binaan berdasarkan
a. Loan to Foster Partners Classified by CD
CD Regional
Regional
Pinjaman kepada Mitra Binaan
31 Desember / December 31
2022
2021
CD Regional I Sumatera
78.869.801.420
CD Regional II DKI Jakarta dan Banten 55.370.480.606
CD Regional III Jabar
CD Regional IV Jateng dan DIY
CD Regional V Jatim dan Madura
CD Regional VI Kalimantan
CD Regional VII Kawasan Timur
Indonesia
76.436.317.366
51.630.987.720
37.392.543.608 35.632.061.349
47.494.822.387 45.264.017.160
75.285.453.474 73.376.692.454
45.652.380.063 41.866.668.190
37.864.550.413
36.063.549.428
Loan to Foster Partners
CD Regional I Sumatera
CD Regional II DKI Jakarta and Banten
CD Regional III Jabar
CD Regional IV Jateng and DIY
CD Regional V Jatim and Madura
CD Regional VI Kalimantan
CD Regional VII Kawasan Timur
Indonesia
360.270.293.667
Jumlah
Penyisihan Penurunan Nilai Pinjaman (84.929.581.437) (83.373.615.274)
377.930.031.971
Total
Allowance for Impairment of Loan
Jumlah Pinjaman kepada Mitra
Binaan - Neto
293.000.450.534 276.896.678.393
Total Loan to Foster Partners - Net
16
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
5. PINJAMAN KEPADA MITRA BINAAN (lanjutan)
5. LOAN TO FOSTER PARTNERS (continued)
b. Pinjaman kepada Mitra Binaan Menurut
b. Loan to Foster Partners Classified by Sector
Sektor (lanjutan)
(continued)
Perdagangan
Industri
Jasa
Peternakan
Pertanian
Perikanan
Perkebunan
Lainnya
31 Desember / December 31
2022
2021
202.340.741.536 192.328.394.293
77.833.442.929
80.851.746.195
59.171.986.477
56.037.409.262
11.995.501.388 11.357.901.320
8.736.387.330
7.979.585.931
8.269.562.995 7.574.587.924
3.808.826.540
4.161.211.880
3.350.145.468
2.402.894.170
Trading
Industry
Service
Farming
Agriculture
Fishing
Plantation
Others
Jumlah
Penyisihan penurunan nilai pinjaman
377.930.031.971 360.270.293.667
(83.373.615.274)
(84.929.581.437)
Total
Allowance for impairment of loan
Jumlah pinjaman kepada Mitra
Binaan - Neto
293.000.450.534
276.896.678.393
Total Loan to Foster Partners - Net
Manajemen berpendapat bahwa saldo penyisihan
penurunan nilai pinjaman cukup untuk menutup
kerugian atas tidak tertagihnya pinjaman.
Termasuk di dalam saldo pinjaman kepada Mitra
binaan adalah saldo pinjaman
tambahan.
Pinjaman tambahan disalurkan untuk membiayai
kebutuhan dana pelaksanaan kegiatan usaha
mitra binaan yang bersifat jangka pendek.
Management believes that the balance of
allowance for impairment of loan is adequate to
cover losses from the uncollectible loan.
Included in loans to foster partner is balance of
additional
loans are
loans. Additional
distributed to finance the short-term funding
requirements for the business operations.
c. Pendapatan Jasa Administrasi Pinjaman
c. Loan Administration Service Income
Sejak tahun buku 2008 besarnya prosentase
pendapatan jasa administrasi pinjaman program
kemitraan terhitung berdasarkan pada ketentuan
pasal 12 ayat (2) Peraturan Menteri BUMN No:
PER-05/MBU/2007
tanggal 17 April 2007
sebesar 6% per tahun dari pokok pinjaman.
Berdasarkan PER-09/MBU/07/2015 yang efektif
tanggal 3 Juli 2015, besarnya jasa administrasi
pinjaman ditetapkan sebesar 6% per tahun dari
saldo pinjaman awal tahun.
Setelah pemberlakuan PER-02/MBU/07/2017
yang efektif tanggal 5 Juli 2017, besarnya jasa
administrasi pinjaman ditetapkan sebesar 3% per
tahun dari saldo pinjaman awal tahun.
Since 2008, the percentage of administration
service income of loan for partnership program
was based on the Decree on article 12 (2) of
The
SOE Ministry
No: PER-05/MBU/2007 dated April 17, 2007,
which is 6% per annum from the principal of the
loan.
Regulation
of
Based on PER-09/MBU/07/2015 dated July 3,
2015, administration service
income was
determined by 6% per annum from the opening
balance of the loan.
After implementation of PER-02/MBU/07/2017
dated July 5, 2017, administration service
income was determined by 3% per annum from
the opening balance of the loan.
Berdasarkan PER-05/MBU/04/2021 yang efektif
tanggal 20 April 2021, besarnya jasa administrasi
pinjaman ditetapkan sebesar 6% per tahun.
Based on PER-05/MBU/04/2021 dated April
20, 2021, administration service income was
determined by 6% per annum.
17
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
5. PINJAMAN KEPADA MITRA BINAAN (lanjutan)
5. LOAN TO FOSTER PARTNERS (continued)
c. Pendapatan Jasa Administrasi Pinjaman
c. Loan Administration Service
Income
(lanjutan)
(continued)
Berdasarkan PER-06/MBU/09/2022 yang efektif
tanggal 15 September 2022, besarnya jasa
administrasi pinjaman ditetapkan sebesar 3% per
tahun dari saldo pinjaman awal tahun.
dated
on PER-06/MBU/09/2022
Based
September 15, 2022, administration service
income was determined by 3% per annum from
the opening balance of the loan.
d. Penyisihan Pinjaman Kepada Mitra Binaan
d. Allowance for Impairment of Loan to Foster
Partners
Mutasi penyisihan penurunan nilai pinjaman
adalah sebagai berikut:
Movement of allowance for impairment of loan
is as follow:
Saldo awal
Penambahan
Pemulihan
Reklasifikasi sebagai
31 Desember / December 31
2022
2021
83.373.615.274 124.569.408.120
10.902.288.650 62.350.505.930
(46.490.504.333)
(4.278.571.317)
Beginning balance
additional
Reversal
pinjaman bermasalah
(5.067.751.170) (57.055.794.443)
Reclassification to troubled loan
Saldo akhir
84.929.581.437 83.373.615.274
Ending balance
31 Desember 2022/ December 31, 2022
Umur Pinjaman
(dari jatuh tempo)/
Loan Aging
(from maturity date)
Saldo Pinjaman/
Loan
Balance
%
Penyisihan/
Allowance
%
Akumulasi
Penyisihan/
Accumulated
Allowance
Beban
(Pemulihan)
Penyisihan/
Expense
(Recovery)
Allowance
_
Loan Quality
_
Foster Partners
Collective assessment
Kualitas Pinjaman
Mitra Binaan
Dinilai secara kolektif
Lancar
< 30 hari/ < 30 days
272.931.204.899
0,64%
1.733.220.983
(1.102.643.915)
Current
Kurang lancar
Diragukan
Macet
Sub jumlah
Bermasalah
Mitra Binaan
BUMN Pembina lain/
Lembaga Penyalur
Sub jumlah
Dinilai secara individual
Mitra Binaan Pinjaman Tambahan
Macet
Jumlah
> 30 hari ≤ 180 hari
> 30 days < 180 days
> 180 hari ≤ 270 hari
> 180 days < 270 days
17.224.907.352
6,70%
1.154.332.749 (1.298.368.754)
Substandard
6.555.940.180
12,57%
824.048.165
(1.877.558.648)
> 270 hari/ > 270 days
81.207.661.205 100,00% 81.207.661.205 5.834.537.480
377.919.713.636
84.919.263.102 1.555.966.163
9.220.206.183 100,00%
9.220.206.183 (26.450.000)
280.731.693.036
100,00%
280.731.693.036 (5.951.650.255)
Doubtful
Loss
Subtotal
Troubled
Foster Partner
Other Foster SOE/
Distributing Partners
289.951.899.219 289.951.899.219 (5.978.100.255)
Sub total
10.318.335
100,00% 10.318.335
-
Individual assessment
Additional Loan Foster Partners
Substandard
667.881.931.190
374.881.480.656 (4.422.134.092)
Total
18
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
5. PINJAMAN KEPADA MITRA BINAAN (lanjutan)
5. LOAN TO FOSTER PARTNERS (continued)
d. Penyisihan Pinjaman Kepada Mitra Binaan
d. Allowance for Impairment of Loan to Foster
(lanjutan)
Partners (continued)
31 Desember 2021/ December 31, 2021
Umur Pinjaman
(dari jatuh tempo)/
Loan Aging
(from maturity date)
Saldo Pinjaman/
Loan
Balance
%
Penyisihan/
Allowance
%
Akumulasi
Penyisihan/
Accumulated
Allowance
Beban
(Pemulihan)
Penyisihan/
Expense
(Recovery)
Allowance
_
Loan Quality
_
Foster Partners
Collective assessment
Kualitas Pinjaman
Mitra Binaan
Dinilai secara kolektif
Lancar
< 30 hari/ < 30 days
251.133.632.662
1,13%
2.835.864.898
1.715.384.658
Current
Kurang lancar
Diragukan
Macet
Sub jumlah
Bermasalah
Mitra Binaan
BUMN Pembina lain/
Lembaga Penyalur
Sub jumlah
Dinilai secara individual
Mitra Binaan Pinjaman Tambahan
Macet
Jumlah
19.966.897.402
12,28%
2.452.701.503 1.475.933.369
Substandard
> 30 hari ≤ 180 hari
> 30 days < 180 days
> 180 hari ≤ 270 hari
> 180 days < 270 days
13.786.321.543
19,60%
2.701.606.812
2.103.394.196
> 270 hari/ > 270 days
75.373.123.726 100,00%
75.373.123.726 (46.500.823.404)
360.259.975.332
83.363.296.939 (41.206.111.181)
286.683.343.291
100,00%
286.683.343.291
47.350.443.047
9.246.656.183 100,00%
9.246.656.183 (500.000)
Doubtful
Loss
Sub total
Troubled
Foster Partner
Other Foster SOE/
Distributing Partners
295.929.999.474 295.929.999.474 47.349.943.047
Sub total
Individual assessment
Additional Loan Foster Partners
10.318.335 100,00% 10.318.335 10.318.335
656.200.293.141
379.303.614.748
6.154.150.201
Loss
Total
6. ASET LAIN-LAIN
6. OTHER ASSET
Pinjaman Bermasalah Kepada Mitra Binaan
Menurut CD Regional
Pada tanggal 31 Desember 2022 dan 2021, pinjaman
bermasalah yang di klasifikasikan berdasarkan CD
Regional adalah sebagai berikut:
Troubled Loan to Foster Partners Classified by
CD Regional
As of December 31, 2022 and 2021, the troubled
loan which classified per CD Regional is as follow:
31 Desember / December 31
2022
2021
CD Regional I Sumatera 61.593.873.574 63.714.943.461
40.391.500.941
CD Regional II DKI Jakarta dan Banten
41.801.966.503
46.951.230.032 45.798.422.935
CD Regional III Jabar
23.997.654.788
CD Regional IV Jateng dan DIY
24.544.425.328
45.974.823.576 48.195.049.801
CD Regional V Jatim dan Madura
CD Regional VI Kalimantan
28.128.613.103 28.725.805.721
CD Regional VII Kawasan Timur
Indonesia
33.693.997.022 33.902.729.542
CD Corporate
PT Sang Hyang Seri (Persero) (“SHS”)
Baitul Mal Wal Tamwil (“BMT Hidayah”)
7.602.387.468
1.617.818.715
7.627.387.468
1.619.268.715
CD Regional I Sumatera
CD Regional II DKI Jakarta and Banten
CD Regional III Jabar
CD Regional IV Jateng and DIY
CD Regional V Jatim and Madura
CD Regional VI Kalimantan
CD Area VII Kawasan Timur
Indonesia
CD Corporate
PT Sang Hyang Seri (Persero) (“SHS”)
Baitul Mal Wal Tamwil (“BMT Hidayah”)
Jumlah
Penyisihan Pinjaman Bermasalah
289.951.899.219
Total
(289.951.899.219) (295.929.999.474) Allowance for Impairment of Troubled Loan
295.929.999.474
Jumlah Pinjaman Bermasalah-Neto
-
19
-
Troubled Loan Distribution-Net
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
6. ASET LAIN-LAIN (lanjutan)
6. OTHER ASSET (continued)
Pinjaman Bermasalah Kepada Mitra Binaan
Menurut CD Regional (lanjutan)
Troubled Loan to Foster Partners Classified by CD
Regional (continued)
Mutasi penyisihan penurunan nilai pinjaman
bermasalah adalah sebagai berikut:
Movement of allowance for impairment of troubled
loan is as follow:
Saldo awal
Penambahan
Pemulihan
Saldo akhir
31 Desember / December 31
2022
2021
295.929.999.474 248.580.056.427
5.067.751.170 57.055.794.443
(11.045.851.425) (9.705.851.396)
289.951.899.219 295.929.999.474
Beginning balance
additional
Reversal
Ending balance
CDC telah mengajukan surat usulan permohonan
No. Tel.03/KU 000/CDC-A1000000/2023 tanggal
17 Januari 2023 kepada Kementerian BUMN untuk
Penghapusan Piutang Bermasalah sampai dengan
31 Desember 2022 sebesar Rp289.951.899.219.
CDC has submited a letter No. Tel.03/KU 000/CDC-
A1000000/2023 on January 17, 2023 to Ministry of
SOE to propose Written off of Troubled Loans until
December
to
2022
Rp289,951,899,219.
amounting
31,
7. UTANG DAN LIABILITAS LANCAR LAINNYA
7. PAYABLES AND OTHER CURRENT LIABILITIES
Pada tanggal 31 Desember 2022 dan 2021, akun ini
merupakan uang titipan.
As of December 31, 2022 and 2021, this account
represents incidental deposit.
8. KELEBIHAN PEMBAYARAN ANGSURAN
8. OVERPAYMENT OF INSTALLMENTS
31 Desember / December 31
2022
2021
Saldo Awal
Penambahan
Pengembalian
Saldo Akhir
396.999.537
43.480.772
159.279.004
Beginning Balance
328.385.968 Additional
Refund
(236.788.598) (90.665.435)
203.691.711
396.999.537
Ending Balance
20
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
9. PENDAPATAN JASA ADMINISTRASI PINJAMAN
9. LOAN ADMINISTRATION SERVICE INCOME
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2022
2021
3.043.107.021
CD Regional I Sumatera
1.970.401.968
CD Regional II DKI Jakarta dan Banten 2.355.986.902 1.411.663.557
1.389.465.716 847.352.661
CD Regional III Jabar
1.994.521.838 1.321.872.364
CD Regional IV Jateng dan DIY
2.915.537.163 1.907.598.206
CD Regional V Jatim dan Madura
CD Regional VI Kalimantan
2.189.135.166 1.208.978.706
CD Regional VII Kawasan Timur Indonesia 1.594.942.770 891.594.157
CD Regional I Sumatera
CD Regional II DKI Jakarta and Banten
CD Regional III Jabar
CD Regional IV Jateng and DIY
CD Regional V Jatim and Madura
CD Regional VI Kalimantan
CD Regional VII Kawasan Timur Indonesia
Jumlah
15.482.696.576 9.559.461.619
Total
10. PENDAPATAN BUNGA
10.
INTEREST INCOME
Pada tanggal 31 Desember 2022 dan 2021, akun ini
merupakan pendapatan bunga atas jasa giro.
As of December 31, 2022 and 2021, this account
represents interest income from current account.
11. TRANSAKSI DAN SALDO DENGAN PIHAK
11. TRANSACTIONS AND BALANCES WITH
BERELASI
RELATED PARTIES
Hubungan dan sifat saldo akun/ transaksi dengan
pihak - pihak berelasi adalah sebagai berikut:
The relationship and nature of account balances/
transactions with related parties were as follows:
`
Hubungan/
Relation
Pihak-pihak berelasi/
Related parties
Transaksi/
Transactions
BUMN Pembina/ Foster SOE
PT Telekomunikasi Indonesia
(Persero) Tbk.
Beban pembinaan kemitraan/
Fostering partnership expenses
Perusahaan dibawah entitas
sepengendali oleh Pemerintah/
Entity under common control of
the Government
PT Bank Negara Indonesia (Persero) Tbk.
Jasa perbankan/ Banking services
Perusahaan dibawah entitas
PT Bank Mandiri (Persero) Tbk.
Jasa perbankan/ Banking services
sepengendali oleh Pemerintah/
Entity under common control of
the Government
Perusahaan dibawah entitas
PT Bank Syariah Indonesia (Persero) Tbk.
Jasa perbankan/ Banking services
sepengendali oleh Pemerintah/
Entity under common control of
the Government
Perusahaan dibawah entitas
sepengendali oleh Pemerintah/
Entity under common control of
the Government
PT Sang Hyang Seri (Persero)
BUMN Penyalur lain/ Other Foster
SOE
21
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
11. TRANSAKSI DAN SALDO DENGAN PIHAK
11. TRANSACTIONS AND BALANCES WITH
BERELASI (LANJUTAN)
RELATED PARTIES (CONTINUED)
Hubungan dan sifat saldo akun/ transaksi dengan
pihak - pihak berelasi adalah sebagai berikut:
(lanjutan)
The relationship and nature of account balances/
transactions with related parties were as follows:
(continued)
Rincian akun dan transaksi signifikan dengan pihak
- pihak berelasi adalah sebagai berikut:
The details of accounts and significant transactions
with related parties are as follows:
Aset
Kas dan Setara Kas (Catatan 4)
Kas di bank
PT Bank Mandiri (Persero) Tbk.
PT Bank Negara Indonesia
(Persero) Tbk.
PT Bank Syariah Indonesia
(Persero) Tbk.
Pinjaman kepada BUMN Pembina
Lain atau Lembaga Penyalur
(Catatan 6)
31 Desember/ 31 Desember
2022
2021
5.601.276.696
3.390.277.752
3.301.996.025
4.054.802.745
Assets
Cash and Cash Equivalents (Note 4)
Cash in banks
PT Bank Mandiri (Persero) Tbk.
PT Bank Negara Indonesia
(Persero) Tbk.
PT Bank Syariah Indonesia
2.696.146.884 -
(Persero) Tbk.
11.599.419.605
7.445.080.497
Loan to Other Foster SOE
or Distributing Partners
(Note 6)
PT Sang Hyang Seri (Persero)
Penyisihan Pinjaman Bermasalah
7.602.387.468
(7.602.387.468)
7.627.387.468
(7.627.387.468)
PT Sang Hyang Seri (Persero)
Allowance for Impairment of Troubled Loan
Jumlah pinjaman
-
-
Total loan
Jumlah aset pada pihak berelasi
11.599.419.605
7.445.080.497
Total assets in related parties
Jumlah aset
304.599.870.139 284.341.758.890
Total assets
Sebagai prosentase terhadap
jumlah aset
3,81%
2,62%
As percentage to total assets
22
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
CATATAN ATAS LAPORAN KEUANGAN
31 Desember 2022 dan Tahun yang
Berakhir pada Tanggal tersebut
(Disajikan dalam Rupiah)
The original financial statements included herein are in the Indonesian
language.
PROGRAM PENDANAAN USAHA MIKRO
DAN USAHA KECIL
(COMMUNITY DEVELOPMENT CENTER)
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA TBK
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2022 and
For the Year Ended
(Expressed in Rupiah)
11. TRANSAKSI DAN SALDO DENGAN PIHAK
11. TRANSACTIONS AND BALANCES WITH
BERELASI (LANJUTAN)
RELATED PARTIES (CONTINUED)
Pendapatan
Pendapatan Jasa Giro
PT Bank Negara Indonesia
(Persero) Tbk.
PT Bank Mandiri (Persero) Tbk.
PT Bank Syariah Indonesia
(Persero) Tbk.
31 Desember/ 31 Desember
2022
2021
221.034.470 96.045.980
198.159.035
85.875.409
(5.007.500) -
Revenues
Interest from Current Account
PT Bank Negara Indonesia
(Persero) Tbk.
PT Bank Mandiri (Persero) Tbk.
PT Bank Syariah Indonesia
(Persero) Tbk.
Jumlah pendapatan jasa giro
301.902.379
294.205.015
Total interest from current account
Jumlah pendapatan dari pihak berelasi
301.902.379
294.205.015
Total revenues from related parties
Jumlah pendapatan
15.830.613.931
9.882.327.180
Total revenues
Sebagai prosentase terhadap
jumlah pendapatan
1,91%
2,98%
As percentage to total revenues
12. LAPORAN ARUS KAS - METODE LANGSUNG
12. STATEMENT OF CASH FLOWS - DIRECT
METHOD
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2022
2021
AKTIVITAS OPERASI
Pengembalian Pinjaman dari Mitra Binaan 226.749.898.042
(372.611.905)
Pembayaran Utang
217.575.755.118
(374.821.274)
Penerimaan Jasa Administrasi
Pinjaman
9.409.437.016
Pendapatan Bunga
294.205.015
Penyaluran Dana Pinjaman ke Mitra Binaan (237.524.200.000) (223.281.500.000)
(3.165.978.773)
Dana Pembinaan Kemitraan
-
Pengembalian Dana Pembinaan Kemitraan -
3.165.978.773
Pengembalian Kelebihan Angsuran
15.236.139.190
301.902.379
OPERATING ACTIVITIES
Loan Repayments from Foster Partners
Payable Payment
Receipt from
Loan Administration Service
Interest Income
Fund transferred to Foster Partners
Fostering Partnership Funds
Refund of Fostering Partnership Funds
ke Mitra Binaan
(236.788.598) (90.665.435)
Refund to Foster Partners
KAS NETO DITERIMA
UNTUK AKTIVITAS OPERASI
KENAIKAN
KAS DAN SETARA KAS
KAS DAN SETARA KAS PADA
AWAL TAHUN
KAS DAN SETARA KAS PADA
AKHIR TAHUN
4.154.339.108
3.532.410.440
4.154.339.108
3.532.410.440
NET CASH FLOWS RECEIVED
TO OPERATING ACTIVITIES
INCREASE
IN CASH AND CASH EQUIVALENTS
7.445.080.497
3.912.670.057
CASH AND CASH EQUIVALENTS
AT BEGINNING OF YEAR
11.599.419.605
7.445.080.497
CASH AND CASH EQUIVALENTS
AT END OF YEAR
23
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ANNUAL REPORT 2022 FEEDBACK FORM
PT TELKOM INDONESIA (PERSERO) TBK
Thank you for your willingness to read this 2022 Annual Report. As part of an effort to perfect the contents of the following year’s
reporting. We look forward to hearing from you by answering the questions below.
QUESTION
1.
2.
3.
4.
In your opinion, this Annual Report has provided useful information regarding various activities carried out by PT Telkom
Indonesia (Persero) Tbk.
SA
A
OTA
D
SD
In your opinion, the material in this report including the data and information presented is easy to understand and
understand.
SA
A
OTA
D
SD
In your opinion, the material in this report including the data and information presented is quite complete, covering all
sustainability issues.
SA
A
OTA
D
SD
In your opinion, the material in this report including the data and information presented is reliable for
decision-making.
SA
A
OTA
D
SD
Remarks::
SA: Strongly Agree A: Agree OTA: On the Average D: Disagree SD: Strongly Disagree
5.
In your opinion, what information has been submitted in this report and is felt to be useful?
a.
b.
c.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
In your opinion, what information has been conveyed in this report and is felt to be of little use?
a.
b.
c.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
In your opinion, what about the display of this report both from the contents, design and layout as well as photos included?
a.
b.
c.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
In your opinion, what information is felt to be lacking and must be completed in the upcoming Annual Report?
a.
b.
c.
Your profile
Full name
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Age and Gender
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Institution / Company
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Type of Institution / Company
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Government
NGO
Industry
Public
Media
Etc
Returning forms and other matters related to the 2022 Annual Report can be submitted to:
Investor Relations
The Telkom Hub, Telkom Landmark Tower Lantai 39
Jl. Jend. Gatot Subroto Kav. 52, Jakarta 12710
Tel
Fax
E-mail
Website
: (6221) 521 5109
: (6221) 522 0500
: investor@telkom.co.id
: www.telkom.co.id