6-K 1 u92218e6vk.htm PT TELEKOMUNIKASI INDONESIA

PT TELEKOMUNIKASI INDONESIA

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13 a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

For the month of      October     , 2003

Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI INDONESIA

(Translation of registrant’s name into English)

Jalan Japati No. 1 Bandung-40133 INDONESIA

(Address of principal executive office)

[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

Form 20-F  [x] Form 40-F  [  ]

[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934

Yes  [  ] No  [x]

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

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SIGNATURES

PRESS RELEASE

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned, thereunto duly authorized.

				Perusahaan Perseroan (Persero) PT TELEKOMUNIKASI INDONESIA
				(Registrant)
Date		October 31, 2003		By		/s/ Rochiman Sukarno (Signature)
						Rochiman Sukarno Head of Investor Relation Unit

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PRESS RELEASE
No. TEL. 448 /PR000/UHI/2003

TELKOM’S 2003 THIRD QUARTER RESULTS

Jakarta, October 31, 2003. Herewith, please find enclosed Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia, Tbk. (“TELKOM”) Balance Sheet and Statement of Income (unaudited) for the Third Quarter of Year 2003 as submitted to the Indonesian Capital Market Authority ( BAPEPAM ) on October 31st, 2003.

ROCHIMAN SUKARNO
Head of Investor Relations

For further information, please contact:

Investor Relations Unit
PT Telekomunikasi Indonesia, Tbk

Phone		: 62-21-5215109
Fax		: 62-21-5220500
E-mail		: investor@telkom.co.id
Website		: www.telkom.co.id

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PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
SEPTEMBER 30, 2002 AND 2003
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollar)

			2002				2003
			Rp				Rp				US$
ASSETS
CURRENT ASSETS
Cash and cash equivalents				7,378,883				4,860,585				567,693
Temporary investments				565,682				—				—
Trade accounts receivable
	Related parties — net of allowance for doubtful accounts of Rp519,483 million in 2002 and Rp616,387 million in 2003			1,399,127				863,995				100,910
	Third parties — net of allowance for doubtful accounts of Rp331,148 million in 2002 and Rp413,959 million in 2003			1,908,851				2,439,780				284,954
Other accounts receivable — net of allowance for doubtful account of Rp31,216 million in 2002 and Rp170,043 million in 2003				166,849				285,928				33,395
Inventories — net of allowance for obsolescence of Rp56,642 million in 2002 and Rp51,345 million in 2003				230,386				185,596				21,677
Prepaid expenses				542,306				896,462				104,702
Other current assets				111,062				38,663				4,516
Total Current Assets				12,303,146				9,571,009				1,117,847
NONCURRENT ASSETS
Long-term investment — net				104,348				69,741				8,145
Property, plant and equipment — net of accumulated depreciation of Rp18,870,782 million in 2002 and Rp23,813,004 million in 2003				25,890,299				31,959,967				3,732,769
Property, plant and equipment under revenue-sharing arrangements — net of accumulated depreciation of Rp901,671 million in 2002 and Rp876,749 million in 2003				388,181				317,441				37,076
Advances and other noncurrent assets				998,996				307,906				35,962
Intangible assets				2,163,862				3,283,817				383,535
Advance payment for investment in share of stock				268,101				79,768				9,317
Escrow accounts				129,292				447,838				52,305
Property not used in operations				6,446				12,355				1,443
Total noncurrent assets				29,949,525				36,478,833				4,260,552
TOTAL ASSETS				42,252,671				46,049,842				5,378,399

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PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Continued)
SEPTEMBER 30, 2002 AND 2003
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollar)

			2002				2003
			Rp				Rp				US$
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade account payable
	Related parties			1,162,709				723,204				84,467
	Third parties			1,783,909				2,365,467				276,275
Other accounts payable				125,707				135,289				15,801
Taxes payable				1,459,605				1,794,260				209,561
Dividends payable				667,866				69,418				8,108
Accrued expenses				1,516,889				2,876,231				335,930
Unearned income				528,985				660,464				77,139
Advances from customers and suppliers				836,434				692,107				80,834
Bank Loans and Current maturities of long-term liabilities				2,821,110				2,126,321				248,344
Liability for cross-ownership transactions				389,167				—				—
Total Current Liabilities				11,292,381				11,442,761				1,336,459
NONCURRENT LIABILITIES
Deferred tax liabilities — net				1,971,291				1,528,421				178,512
Unearned income on revenue-sharing arrangements				180,202				122,924				14,357
Unearned initial investors payments under joint operation scheme				67,453				28,876				3,373
Long-term liabilities — net of current maturities
	Two-step loans — related party			7,804,054				7,005,308				818,186
	Suppliers’ credit loans			283,351				64,804				7,569
	Bridging loan			81,498				25,726				3,005
	Project cost payable			189,876				—				—
	Bond payable and guaranteed notes			2,353,104				2,235,511				261,097
	Bank loan			149,040				1,790,838				209,161
	Other long-term debt			9,150				9,150				1,069
	Liability for acquisition of a subsidiary			—				760,916				88,871
Total Noncurrent Liabilities				13,089,019				13,572,474				1,585,200
MINORITY INTEREST IN NET ASSETS OF SUBSIDIARIES				3,188,402				4,126,800				481,990
EQUITY
Capital stock — Rp500 par value per saries A Dwiwarna share and Series B share Authorized — one Series A Dwiwarna share and 39.999.999.999 Series B shares
	Issued and fully paid — one Series A Dwiwarna share and 10.079.999.639 Series B shares			5,040,000				5,040,000				588,648
Additional paid-in capital				1,073,333				1,073,333				125,360
Difference in value of restructuring transactions between entities under common control				(7,402,343	)			(7,032,455	)			(821,357	)
Difference due to change of equity in associated companies				258,115				342,425				39,994
Translation adjustment				179,668				160,599				18,757
	Appropriated			745,404				1,559,068				182,092
	Unappropriated			14,788,692				15,764,837				1,841,256
Total Equity				14,682,869				16,907,807				1,974,750
TOTAL LIABILITIES AND EQUITY				42,252,671				46,049,842				5,378,399

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PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
FOR THE PERIOD ENDED SEPTEMBER 30, 2001, 2002 AND 2003
(Figures in tables are presented in millions of Rupiah and thousands of United States Dollar, except share and ADS data)

				2001				2002				2003
				Rp				Rp				Rp				US$
OPERATING REVENUE
	Telephone
		Fixed lines			4,743,939				6,235,286				7,122,495				831,873
		Cellular			3,368,856				4,433,892				6,121,293				714,937
	Interconnection				1,111,550				2,221,291				3,194,323				373,081
	Joint operation scheme				1,656,844				1,214,946				858,273				100,242
	Data and internet				226,220				1,073,962				2,150,469				251,164
	Network				286,161				224,771				329,956				38,537
	Revenue-sharing arrangements				196,046				207,487				191,443				22,360
	Other telecommunications services				9,074				11,583				9,109				1,064
	Total Operating Revenue				11,598,690				15,623,218				19,977,361				2,333,258
OPERATING EXPENSES
	Personnel				1,356,893				2,201,959				3,181,770				371,615
	Depreciation				2,078,945				2,565,886				3,321,316				387,914
	Operation, maintenance and telecommunication services				1,449,631				1,839,633				2,589,311				302,419
	General and administrative				902,299				1,100,549				959,259				112,037
	Marketing				148,137				242,251				350,704				40,961
	Total Operating Expenses				5,935,905				7,950,278				10,402,360				1,214,946
OPERATING INCOME					5,662,785				7,672,940				9,575,001				1,118,312
OTHER INCOME (CHARGES)
	Interest income				461,729				452,172				220,315				25,732
	Interest expense				(809,068	)			(1,289,328	)			(942,087	)			(110,031	)
	Gain (loss) on exchange rate differences — net				114,267				462,987				294,624				34,411
	Equity in net income (loss) of associated companies				6,232				(10,109	)			(28	)			(3	)
	Gain on sales of long-term investment				—				3,196,380				—				—
	Others — net				94,412				282,677				(537,098	)			(62,730	)
	Other Income (Charges) — net				(132,428	)			3,094,779				(964,274	)			(112,621	)
INCOME BEFORE TAX					5,530,357				10,767,719				8,610,727				1,005,691
TAX EXPENSE
	Current tax				(1,702,768	)			(2,186,318	)			(2,920,463	)			(341,096	)
	Deferred tax				143,446				(17,310	)			(6,010	)			(702	)
					(1,559,322	)			(2,203,628	)			(2,926,473	)			(341,798	)
INCOME BEFORE MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES AND PRE ACQUISITION (INCOME) LOSS					3,971,035				8,564,091				5,684,254				663,893
PRE ACQUISITION (INCOME) LOSS OF SUBSIDIARIES					108,080				(142,817	)			(152,700	)			(17,835	)
MINORITY INTEREST IN NET INCOME OF SUBSIDIARIES					(436,198	)			(852,817	)			(1,159,590	)			(135,434	)
NET INCOME					3,642,917				7,568,457				4,371,964				510,624
BASIC EARNINGS PER SHARES
	Net income per share				361.40				750.84				433.73				0.05
	Net income per ADS (20 shares B per ADS)				7,228.01				15,016.78				8,674.53				1.01