A generic term commonly used to refer to the delivery of audio, video and other media over the Internet without the involvement of a multi-system operator in the control or distribution of the content. For the reader's convenience only, certain Indonesian Rupiah amounts have been converted to U.S.
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS Not applicable
In addition, all statements, other than statements of historical fact, included in this Form 20-F are forward-looking statements. The forward-looking statements in this Form 20-F relate only to events or information as of the date the statements in this Form are made.
OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable
Although we believe that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. These forward-looking statements are subject to a number of risks and uncertainties, including changes in the economic, social and political environment in Indonesia.
KEY INFORMATION
SELECTED FINANCIAL DATA
Following the dissolution of the PKLN Team in accordance with Presidential Regulation No. 82 of 2020, we are no longer required to obtain the approval of the PKLN Team to take commercial foreign loans. After the dissolution of the PKLN Team and pending the issuance of relevant implementing regulations, there is uncertainty about the MoF approval process and how periodic reports on foreign commercial loans will be handled.
CAPITALIZATION AND INDEBTEDNESS Not applicable
However, under Presidential Regulation No. 59 of 1972, we are still required to obtain approval from the Ministry of Foreign Affairs before making foreign commercial loans. We are also required to submit periodic reports to the MoF during the term of such foreign commercial loans.
REASON FOR THE OFFER AND USE OF PROCEEDS Not applicable
RISK FACTORS
Each of the above could adversely affect our business, prospects, financial condition and results of operations. Any of the foregoing consequences could materially and adversely affect our business, financial condition, results of operations and prospects.
INFORMATION ON THE COMPANY
HISTORY AND DEVELOPMENT OF THE COMPANY Profile of Telkom Indonesia
MoCI Decree no. 549 of 2019 (on the determination of radio frequency bands as a result of the rearrangement of the 800 MHz and 900 MHz radio frequency bands for the implementation of cellular mobile networks); MoCI Decree no. 620 of 2020 (on the correct amount and deadline for payment of fees for the use of the radio frequency spectrum in the tenth year for licensing the radio frequency band for the operation of cellular mobile networks on the radio frequency 800 MHz, 900 MHz and 1800 MHz of the PT Telekomunikasi Selular Group);.
ORGANIZATIONAL STRUCTURE
Our corporate customer-facing department is responsible for relationships and interactions with small medium-sized businesses, government agencies and corporate customers. Our customer-facing digital services unit is responsible for supporting digital services for all our customers.
PROPERTY AND EQUIPMENT AND RIGHT OF USE OF ASSETS
The amount of our net profits we earn under these agreements cannot be determined but will not exceed our gross revenues from these agreements. The amount of our net profits we earn from these services cannot be determined, but will not exceed our gross revenues from these services.
OPERATING AND FINANCIAL REVIEW AND PROSPECTS
OPERATING RESULTS Overview
This increase was primarily due to an increase in data, internet and information technology services revenue, IndiHome revenue, interconnection revenue and other revenue, but was partially offset by a decline in telephony revenue. mobile and SMS revenues. The increase was primarily due to an increase in the number of fixed broadband subscribers from 8.0 million on December 31, 2020 to 8.6 million on December 31, 2021.
LIQUIDITY Liquidity Sources
As of December 31, 2021, our working capital, defined as the difference between current assets and current liabilities at the same date, increased by Rp. 14,564 billion compared to our working capital as of December 31, 2020. The following table presents information on our capital expenditures of performed according to the contractual agreements on December 31, 2021.
RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ET
We have used Verihubs solutions to complement Tribal Financial Service products such as QREN and MPS. Verihubs, one of the startups from the 2020 batch has successfully secured funding from external investors such as Insignia Venture Partners, Central Capital Ventura and Armand Ventures.
TREND INFORMATION
In October 2021, the IMF in its World Economic Outlook Update predicted that the Indonesian economy will grow by 5.9% in 2022. We have witnessed that lockdown measures, including travel restrictions and work-from-home orders, have increased use of our landlines and mobile broadband services as businesses and consumers conduct more activities and transactions online.
OFF-BALANCE SHEET ARRANGEMENTS
Government measures such as those described above have had a serious impact on economic activities and we expect this to result in a decline in revenue in various business segments. However, we expect that the slowdown in overall economic growth will have an effect on our operating result and financial position in the long term, and we are in the process of implementing measures to counter any changes in consumption.
TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS
For example, the regional government of Jakarta Province (classified as a "red zone" area that has been identified as an area of high COVID-19 transmission and where Telkom's head office is located) has implemented enhanced PSBB measures, including restrictions on travel, transport and use of public facilities, quarantines and work-from-home orders, as well as other social and physical distancing measures. We believe that consumer services and mobile services can prove resilient and register positive growth even during economic downturns.
SAFE HARBOR
In 2021, we contributed Rp 226 billion to our defined benefit pension plan and post-employment health benefit plan.
DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
BOARD PRACTICES
The Board of Commissioners must hold joint meetings with the Board of Directors at least once every three months. The Audit Committee functions under the authority of the Audit Committee Charter, which in terms of a Decision of the Board of Commissioners No.
EMPLOYEES
Serikat Pekerja Telkomsel (Serikat Pekerja Telkomsel atau SEPAKAT) mewakili total 4.339 karyawan atau 78,7% dari total tenaga kerja Telkomsel. Serikat Pekerja Infomedia Nusantara (Serikat Pekerja Infomedia Nusantara atau SPIN) mewakili total 175 karyawan atau 57,0% dari total karyawan Infomedia Nusantara per 31 Desember 2021.
SHARE OWNERSHIP
On 31 December 2021, SEKAR represented a total of 6,460 employees or 64.96% of our total workforce (excluding the employees of our subsidiaries). On the other hand, Metra Digital Media and Graha Sarana Duta's employee union (Serikat Pekerja Metra Digital or SPMD and Serikat Karyawan Graha Sarana Duta or SKATA) respectively represented a total of 114 employees (93.0% of their total number of employees) and 654 employees 85.8% of their total number of employees) of each subsidiary's total employees.
RELATED PARTY TRANSACTIONS
We are party to certain agreements and engage in transactions with certain parties related to us, such as cooperatives and foundations. Such parties include the Government and entities related to or owned or controlled by the Government, such as other SOEs.
INTEREST OF EXPERTS AND COUNSEL Not applicable
FINANCIAL INFORMATION
CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION
We are entitled to receive 65% of any dividends approved for payment by Telkomsel by virtue of our shareholding therein.
SIGNIFICANT CHANGES
- PLAN OF DISTRIBUTION Not applicable
- MARKETS
- SELLING STOCKHOLDERS Not applicable
- DILUTION Not applicable
- EXPENSES OF THE ISSUE Not applicable
II A on Trading of Equity Securities as attached to the Decision of the Board of Directors of the IDX No. Transactions on the IDX cash market must be settled and reported to the IDX on the day of the transaction (T+0).
MEMORANDUM AND ARTICLES OF ASSOCIATION Description of Articles of Association
The salaries and allowances of the members of the supervisory board are determined by the general meeting of shareholders. Under Indonesian Company Law, any dismissal (with or without cause) of a member of the board of directors must be approved by a general meeting of shareholders.
MATERIAL CONTRACTS
EXCHANGE CONTROLS
TAXATION
Holder receives with respect to the ADSs or ordinary shares in any taxable year, more than 125% of the average annual distributions required of such US Holder to carry forward any excess distribution or gain from the disposal of the ADSs or ordinary shares reasonable about such U.S.
DIVIDENDS AND PAYING AGENTS Not applicable
The payer will be required to withhold backup withholding tax from any dividend payments or proceeds from the sale or redemption of ADSs or ordinary shares in or by the United States. It is not intended to represent a complete analysis of all tax considerations applicable to an investment in ADSs or ordinary shares.
STATEMENT BY EXPERTS Not applicable
The reporting of information will generally relate to dividend payments and proceeds from the sale or redemption of ADSs or ordinary shares in or by the United States. Holders are urged to consult their tax advisors regarding the reporting obligations of foreign financial assets and their possible use for holding ADSs or ordinary shares.
DOCUMENTS ON DISPLAY
- SUBSIDIARY INFORMATION Not applicable
Holder fails to provide its correct Taxpayer Identification Number or otherwise fails to comply with or establish an exemption from such backup withholding requirements. Holders may be required to report information with respect to such holder's interest in “specified foreign financial assets” (as defined in section 6038D of the Code), including stock in a non-U.S.
QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
As of December 31, 2021, approximately 63.6% (based on total then outstanding principal amount) of our total bank borrowings were floating rate borrowings. For additional information on the maximum exposure to credit risk of our financial assets as of December 31, 2021, please refer to Note 35.b.iv to our Consolidated Financial Statements.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES American Depositary Shares
The shares will then be deposited and the depositary will execute and deliver the ADRs to the ADR holder. The deposit agreement expressly limits our obligations and liabilities and the depositor's obligations and liabilities.
MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS Not applicable
An indemnity bond may be required prior to the delivery, transfer or cancellation of ADRs or the withdrawal of shares or other Deposited Securities if the Depositary believes that fees, taxes or other charges will be payable following such transactions. We and the depositary are only obligated to act in good faith and without negligence as expressly provided in the Deposit Agreement.
CONTROLS AND PROCEDURES
- DISCLOSURE CONTROLS AND PROCEDURES
- MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
- ATTESTATION REPORT OF THE REGISTERED PUBLIC ACCOUNTING FIRM
- CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
- OVERVIEW OF INDONESIAN LAW
- COMPOSITION OF INDEPENDENT BOARD OF DIRECTORS AND BOARD OF COMMISSIONERS
- COMMITTEES
- CODE OF BUSINESS CONDUCT AND ETHICS
Indonesian company law does not require Indonesian public companies to form any of the committees described in the NYSE listing standards. Not all members of our Audit Committee are independent directors as required by Rule 10A-3 of the Exchange Act.
FINANCIAL STATEMENTS See pages F-1 through F-127
In addition, the CEO of a U.S. company must annually certify to the NYSE that he or she is not aware of any violation by the company of the NYSE's corporate governance standards. Although the requirements regarding the content of the code of ethics under the SEC rules are not identical to those set forth in the NYSE listing standards, there are significant similarities where the code of ethics under the SEC rules must be designed to promote the following : ) fair and ethical conduct, including the management of conflicts of interest between personal and professional relationships; (b) full, fair, accurate and timely disclosure in reports and documents filed with or filed with the SEC; (c) compliance with applicable laws and regulations; (d) prompt internal reporting of violations of the Code and (e) accountability for compliance with the Code.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
AND FOR EACH OF THE THREE YEARS FOR THE PERIOD ENDED DECEMBER 31, 2021 WITH THE REPORT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM. Case description As of December 31, 2021, the group's consolidated real estate and equipment balance was Rp. 163,205 billion.
