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RELATED PARTY TRANSACTIONS (Tables)
12 Months Ended
Dec. 31, 2021
RELATED PARTY TRANSACTIONS  
Schedule of nature of relationship with related parties

Related parties

    

Nature of relationships parties

    

Nature of accounts/ transactions

The Government Ministry of Finance

Majority stockholder

Internet and data service revenues, other telecommunication service revenues, finance income, finance costs, and investment in financial instruments

Government agencies

Entities under common control

Network service revenues, internet and data service revenues, other telecommunication revenues, life insurance expenses, press release expenses, customer education expenses, office building lease expenses, consultant expenses, training expenses, finance income, and purchase of property and equipments

MoCI

Entity under common control

Concession fees, radio frequency usage charges, USO charges, telecommunication service revenues, and license expenses

Indosat

Entity under common control

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 telecommunication service revenues

State-owned banks

Entities under common control

Finance income and finance costs

Bank Mandiri

Entity under common control

Internet and data service revenues, other telecommunication service revenues, finance income, and finance costs

BNI

Entity under common control

Internet and data service revenues, other telecommunication service revenues, finance income, and finance costs

BRI

Entity under common control

Internet and data service revenues, other telecommunication service revenues, finance income, and finance costs

BTN

Entity under common control

Internet and data service revenues, other telecommunication service revenues, and finance income

PT Pegadaian (“Pegadaian”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

PT Kimia Farma (“Kimia Farma”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

PT Garuda Indonesia Tbk. (“Garuda Indonesia”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

PT Taspen (“Taspen”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

Perum Peruri (“Peruri”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

PT Perkebunan Nusantara III (Persero) (“PTPN III”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

PT Kereta Api Indonesia (“KAI”)

Entity under common control

Internet and data service revenues, and other telecommunication service revenues

PT Perusahaan Listrik Negara (“PLN”)

Entity under common control

Internet and data service revenues, other telecommunication service revenues, and electricity expenses

PT Asuransi Jasa Indonesia (“Jasindo”)

Entity under common control

Fixed assets insurance expenses and personal insurance expenses

PT Industri Telekomunikasi Indonesia (Persero) (“INTI”)

Entity under common control

Purchase of property and equipments

PT Pembangunan Perumahan (Persero) (“Pembangunan Perumahan”)

Entity under common control

Purchase of property and equipments

Bahana TCW

Entity under common control

Mutual funds

PT Sarana Multi Infrastruktur

Entity under common control

Other borrowings and finance costs

Digital Aplikasi Solusi (“Digiserve”), previously Teltranet (Note 1d)*

Associated company

CPE expense and telecommunication system service

Indonusa

Associated company

Pay TV expenses

Tiphone

Associated company

Distribution of SIM cards and pulse reload voucher

Finarya

Associated company

Marketing expenses

Yakes Telkom

Other related entity

Medical expenses

Padi UMKM

Other related entity

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

Key management personnel

Honorarium and facilities

Commissioners

Supervisory personnel

Honorarium and facilities

*Digiserve status which is accounted as associated company from January to August 2021, and starting from September 2021, has ceased to be associated company and becomes subsidiary with indirect ownership.

Schedule of significant transactions with related parties

2019

2020

2021

    

    

% of total

    

    

% of total

    

    

% of total

Amount

revenues

Amount

revenues

Amount

revenues

Revenues

 

  

 

  

 

  

 

  

 

  

 

  

Majority stockholder

 

  

 

  

 

  

 

  

 

  

 

  

Ministry of Finance

 

101

 

0.07

 

184

 

0.13

 

212

 

0.15

Entities under common control

 

 

  

 

 

  

 

 

  

Government agencies

 

3,894

 

2.87

 

3,894

 

2.85

 

5,882

 

4.11

Indosat

 

860

 

0.63

 

1,034

 

0.76

 

1,056

 

0.74

Pertamina

196

0.14

406

0.30

631

0.44

BNI

 

578

 

0.43

 

547

 

0.40

 

404

 

0.28

BRI

 

619

 

0.46

 

580

 

0.43

 

341

 

0.24

Bank Mandiri

204

0.15

191

0.14

212

0.15

PLN

41

0.03

107

0.08

153

0.11

Pegadaian

229

0.17

178

0.13

148

0.10

Peruri

 

164

 

0.12

 

41

 

0.03

 

136

 

0.09

Kimia Farma

161

0.12

122

0.09

120

0.08

BTN

258

0.19

162

0.12

110

0.08

PTPN III

73

0.05

73

0.05

99

0.07

KAI

144

0.11

92

0.07

84

0.06

Garuda Indonesia

112

0.08

115

0.08

79

0.06

Others (each below Rp75 billion)

 

1,224

 

0.90

 

1,036

 

0.76

 

619

 

0.43

Sub-total

 

8,757

 

6.45

 

8,578

 

6.29

 

10,074

 

7.04

Associated companies

 

75

 

0.06

 

47

 

0.03

 

16

 

0.01

Other related entities

47

0.03

160

0.12

33

0.02

Total

 

8,980

 

6.61

 

8,969

 

6.57

 

10,335

 

7.22

2019

2020

2021

    

    

% of total

    

    

% of total

    

    

% of total

Amount

expenses

Amount

expenses

Amount

expenses

Expenses

 

  

 

  

 

  

 

  

 

  

 

  

Entities under common control

MoCI

 

8,767

 

9.49

 

8,347

 

8.94

 

8,570

 

8.64

PLN

 

2,434

 

2.64

 

2,859

 

3.06

 

2,349

 

2.37

Indosat

 

676

 

0.73

 

563

 

0.60

 

467

 

0.47

Jasindo

 

267

 

0.29

 

255

 

0.27

 

385

 

0.39

INTI

 

 

 

50

 

0.05

 

81

 

0.08

Others (each below Rp75 billion)

 

301

 

0.33

 

262

 

0.28

 

241

 

0.24

Sub-total

 

12,445

 

13.48

 

12,336

 

13.20

 

12,093

 

12.19

Associated companies

 

  

 

  

 

  

 

  

 

  

 

  

Indonusa

 

437

 

0.47

 

432

 

0.46

 

210

 

0.21

Teltranet

173

 

0.19

 

122

0.13

 

134

 

0.14

Finarya

 

198

 

0.21

125

0.13

Others (each below Rp75 billion)

 

79

 

0.09

 

53

 

0.06

 

 

Sub-total

 

689

 

0.75

 

805

 

0.86

 

469

 

0.48

Other related entities

 

  

 

  

 

  

 

  

 

  

 

  

Padi UMKM

 

 

 

 

 

269

 

0.27

Yakes Telkom

 

133

 

0.14

 

125

 

0.13

 

115

 

0.12

Others (each below Rp75 billion)

 

1,169

 

1.27

 

11

 

0.01

 

 

Sub-total

 

1,302

 

1.41

 

136

 

0.14

 

384

 

0.39

Total

 

14,436

 

15.64

 

13,277

 

14.20

 

12,946

 

13.06

2019

2020

2021

    

    

% of total

    

    

% of total

    

    

% of total

Amount

finance income

Amount

finance income

Amount

finance income

Finance income

 

  

 

  

 

  

 

  

 

  

 

  

Entities under common control

 

  

 

  

 

  

 

  

 

  

 

  

State-owned banks

 

743

 

67.85

 

564

 

70.50

 

348

 

62.37

Government agencies

18

1.64

8

1.00

14

2.51

Others

 

10

 

0.91

 

 

 

 

Total

 

771

 

70.40

 

572

 

71.50

 

362

 

64.88

2019

2020

2021

    

    

% of total

    

    

% of total

    

    

% of total

Amount

finance cost

Amount

finance cost

Amount

finance cost

Finance cost

 

  

 

  

 

  

 

  

 

  

 

  

Majority stockholder

 

  

 

  

 

  

 

  

 

  

 

  

Ministry of Finance

 

33

 

0.61

 

25

 

0.54

 

17

 

0.39

Entities under common control

 

  

 

 

  

 

 

 

State-owned banks

 

1,332

 

24.43

 

1,163

 

25.27

 

1,247

 

28.38

Sarana Multi Infrastruktur

 

263

 

4.82

 

313

 

6.80

 

192

 

4.37

Total

 

1,628

 

29.86

 

1,501

 

32.61

 

1,456

 

33.14

2019

2020

2021

    

    

% of total

    

    

% of total

    

    

% of total

Amount

revenues

Amount

revenues

Amount

revenues

Distribution of SIM card and pulse reload voucher

 

  

 

  

 

  

 

  

 

  

 

  

Associated companies

Tiphone

 

5,927

 

4.37

 

1,766

 

1.29

 

959

 

0.67

Total

 

5,927

 

4.37

 

1,766

 

1.29

 

959

 

0.67

2020

2021

    

    

% of total

    

    

% of total

Amount

property and
equipment
purchased

Amount

property and
equipment
purchased

Purchase of property and equipment (Note 13)

 

  

 

  

 

  

 

  

Entities under common control

 

 

 

 

Pembangunan Perumahan

 

 

 

309

 

1.02

INTI

 

57

 

0.19

 

104

 

0.34

Others

 

2

 

0.01

 

 

Total

 

59

 

0.20

 

413

 

1.36

c.   Balance of accounts with related parties

2020

2021

    

    

% of total

    

    

% of total

Amount

assets

Amount

assets

Cash and cash equivalents (Note 4)

 

15,899

 

6.47

 

31,100

 

11.26

Other current financial assets (Note 5)

 

1,108

 

0.45

 

329

 

0.12

Trade receivables - net (Note 6)

 

2,343

 

0.95

 

1,378

 

0.50

Contract assets

Majority stakeholder

Ministry of Finance

49

0.02

7

0.00

Entities under common control

Government agencies

487

0.20

389

0.14

Taspen

165

0.07

167

0.06

Others (each below Rp75 billion)

414

0.17

227

0.08

Sub-total

1,066

0.44

783

0.28

Associated companies

1

0.00

1

0.00

Other related entities

2

0.00

Total

1,118

0.46

791

0.28

Other current assets

 

  

 

  

 

  

 

  

Entities under common control

 

  

 

  

 

  

 

  

MoCI

 

4,376

 

1.78

 

4,749

 

1.72

Others

 

50

 

0.02

 

49

 

0.02

Sub-total

 

4,426

 

1.80

 

4,798

 

1.74

Associated companies

Teltranet

107

0.04

Total

 

4,533

 

1.84

 

4,798

 

1.74

Other non-current assets

 

  

 

  

 

  

 

  

Entities under common control

 

  

 

  

 

  

 

  

MoCI

 

1,237

 

0.50

 

1,573

 

0.57

Others

 

20

 

0.01

 

25

 

0.01

Sub-total

 

1,257

 

0.51

 

1,598

 

0.58

Other related entities

 

2

 

0.00

 

 

Total

 

1,259

 

0.51

 

1,598

 

0.58

2020

2021

    

    

% of total

    

    

% of total

Amount

liabilities

Amount

liabilities

Trade payables (Note 17)

 

  

 

  

 

  

 

  

Majority stockholder

 

  

 

  

 

  

 

  

Ministry of Finance

 

1

 

0.00

 

8

 

0.01

Entities under common control

 

  

 

  

 

  

 

  

MoCI

 

1,204

 

0.96

 

1,329

 

1.01

Indosat

 

31

 

0.02

 

144

 

0.11

Others (each below Rp75 billion)

 

378

 

0.30

 

386

 

0.29

Sub-total

 

1,613

 

1.28

 

1,859

 

1.41

Other related entities

 

470

 

0.37

 

 

Associated companies

73

0.06

5

0.00

Total

 

2,157

 

1.71

 

1,872

 

1.42

Accrued expenses

 

  

 

  

 

  

 

  

Majority stockholder

 

  

 

  

 

  

 

  

Ministry of Finance

 

4

 

0.00

 

3

 

0.00

Entities under common control

 

  

 

  

 

  

 

  

PLN

 

98

 

0.08

 

81

 

0.06

State-owned banks

 

40

 

0.03

 

40

 

0.03

Others

 

6

 

0.00

 

7

 

0.01

Sub-total

 

144

 

0.11

 

128

 

0.10

Other related entities

 

 

 

 

Total

 

148

 

0.11

 

131

 

0.10

2020

2021

    

    

% of total

    

    

% of total

Amount

liabilities

Amount

liabilities

Contract liabilities

Majority stockholder

Ministry of Finance

97

0.08

19

0.01

Entities under common control

Government agencies

799

0.64

295

0.23

MoCl

218

0.17

118

0.09

Others (each below Rp75 billion)

354

0.28

229

0.17

Sub-total

1,371

1.09

642

0.49

Associated companies

1

0.00

2

0.00

Other related entities

4

0.00

1

0.00

Total

1,473

1.17

664

0.50

Customer deposits

 

20

 

0.02

 

19

 

0.01

Short-term bank loans (Note 20)

 

3,797

 

3.03

 

1,578

 

1.20

Two-step loans (Note 21a)

 

568

 

0.45

 

355

 

0.27

Long-term bank loans (Note 21c)

 

17,026

 

13.58

 

17,630

 

13.46

Other borrowings (Note 21d)

 

3,645

 

2.91

 

2,605

 

1.99

Schedule of remuneration of the Board of Commissioners and key management personnel

2019

2020

2021

 

    

    

% of total

    

    

% of total

    

    

% of total

 

Amount

expenses

Amount

expenses

Amount

expenses

 

Board of Directors

 

270

 

0.29

263

 

0.28

347

 

0.35

Board of Commissioners

 

123

 

0.13

108

 

0.12

140

 

0.14