EX-99.2 3 tmb-20230405xex99d2.htm EX-99.2

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Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Program Pendanaan Usaha Mikro dan Usaha Kecil (Community Development Center) ​ Financial statements as of December 31, 2022 for year then ended with independent auditors’ report

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The original financial statements included herein are in 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

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Table of Contents

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SGM CDC’s Statement | ​
Independent Auditors’ Report | ​
Statement of Financial Position | 1
Statement of Comprehensive Income | 2
Statement of Net Assets | 3
Statement of Cash Flows | 4
Notes to the Financial Statements | 5-24

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Table of Contents | ​

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STATEMENTS OF SENIOR GENERAL MANAGER REGARDING THE RESPONSIBILITY FOR THE FINANCIAL STATEMENTS OF PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL DECEMBER 31, 2022 AND FOR THE YEAR ENDED - PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA TBK (COMMUNITY DEVELOPMENT CENTER)

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No: Tel.244/KU000/CDC-A1010000/2023

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We, the undersigned:

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Name | : | Hery Susanto
Office Address | : | Jl. Gatot Subroto Kav 52 Jakarta
Telephone | : | 021-5202173
Position | : | Senior General Manager: Community Development Center

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State that:

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​ | 1. | We are responsible for the preparation and presentation of Financial Statements of Pendanaan Usaha Mikro dan Usaha Kecil Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (“CDC”); ​
​ | 2. | Financial statements Pendanaan Usaha Mikro dan Usaha Kecil Perusahaan as of December 31, 2022 and for the year then ended have been prepared and presented in accordance with Non-publicly- Accountable Financial Accounting Standards; ​
​ | 3. | a. | All information in the Pendanaan Usaha Mikro dan Usaha Kecil Perusahaan Financial Statements has been fully and correctly disclosed;
​ | ​ | b. | The Pendanaan Usaha Mikro dan Usaha Kecil Perusahaan Financial Statements do not contain misleading material information or fact, and do not omit material information and fact; ​
​ | 4. | We are responsible for the CDC’s internal Control. ​

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The Statement letter is made truthfully.

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Jakarta, February 21, 2023

Senior General Manager CDC

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/s/ Hery Susanto

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Heri Susanto

NIK.740115

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Table of Contents | ​

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The original report included herein is in Indonesian language.

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Independent Auditors’ Report
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Report No. 00181/2.1032/AU.2/11/0687-6/1/II/2023

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​ Indonesia Tbk ​
The Shareholders and Boards of Commissioners and Directors Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Management of Pendanaan Usaha Mikro dan Usaha Kecil (Community Development Center) Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

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Opinion

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We have audited the accompanying financial statements of Program Pendanaan Usaha Mikro dan Usaha Kecil (Community Development Center) Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk ("CDC"), which comprise of statement financial position as of December 31, 2022, and the statements of comprehensive income, changes in net assets and cashflows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.

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In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the CDC as of December 31, 2022, and its financial performance and cash flows for the year then ended, in accordance with Indonesian Non-Publicy Accountable Entities Financial Accounting Standards.

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Basis for opinion

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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 Financial Statements paragraph of our report. We are independent of the CDC in accordance with the ethical requirements relevant to our audit of the 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 audit opinion.

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Table of Contents | ​

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The original report included herein is in Indonesian language.

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Independent Auditors’ Report
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Report No. 00181/2.1032/AU.2/11/0687-6/1/II/2023 (continued)

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Other information

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CDC's Management is responsible for the other information. Other information comprises the information included in the annual report year 2022 (the "Annual Report"). The Annual Report is expected to be made available to us after the date of this independent auditor's report.

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Our audn opinion on the accompanying financial statements does not cover the Annual Report, and accordingly, we do not express any form of assurance on the Annual Report.

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In connection with our audit of the accompanying 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 financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

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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.

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Responsibilities of CDC's management and those charged with governance for the financial statements

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CDC's management is responsible for the preparation and fair presentation of such financial statements In accordance With Indonesian Non-Publicly Accountable Entities Financial Accounting Standards, and for such internal control as CDC's management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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Table of Contents | ​

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The original report included herein is in Indonesian language.

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Independent Auditors’ Report
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Report No. 00181/2.1032/AU.2/11/0687-6/1/II/2023 (continued)

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Responsibilities of CDC's management and those charged with governance for the financial statements (continued)

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In preparing the financial statements, CDC's management is responsible for assessing the CDC'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 CDC's management either intends to liquidate the CDC or to cease its operations or has no realistic alternative but to do so.

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Those charged with governance are responsible for overseeing the CDC's financial reporting process.

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Auditor's responsibilities for the audit of the financial statements

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Our objectives are to obtain reasonable assurance about whether the 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 audit 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 such financial statements.

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Table of Contents | ​

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The original report included herein is in Indonesian language.

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Independent Auditors’ Report
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Report No. 00181/2.1032/AU.2/11/0687-6/1/II/2023 (continued)

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Auditor's responsibilities for the audit of the financial statements (continued)

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As part of an audit in accordance with Standards on Auditing established by the I/CPA, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

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● | Identify and assess the risks of material misstatement of the 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 audit opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or override of internal control.

● | 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 audit opinion on the effectiveness of the CDC's internal control.

● | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by CDC's management.

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Table of Contents | ​

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The original report included herein is in Indonesian language.

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Independent Auditors’ Report
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Report No. 00181/2.1032/AU.2/11/0687-6/1/II/2023 (continued)

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Auditor's responsibilities for the audit of the financial statements (continued)

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As part of an audit in accordance with Standards on Auditing established by the I/CPA, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: (continued)

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● | Conclude on the appropriateness of CDC's 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 CDC's abl/ity 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 financial statements or, if such disclosures are inadequate, to modify our audit 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 CDC to cease to continue as a going concern.

● | Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

● | Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the CDC to express an audit opinion on the financial statements. We are responsible for the direction, supervision, and performance of the CDC audit. We remain solely responsible for our audit opinion.

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Table of Contents | ​

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The original report included herein is in Indonesian language.

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Independent Auditors’ Report
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Report No. 00181/2.1032/AU.2/11/0687-6/1/II/2023 (continued)

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Auditor's responsibilities for the audit of the financial statements (continued)

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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, Including any significant deficiencies in internal control that we identify during our audit.

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Purwantono, Sungkoro & Surja

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/s/ Agung Purwanto

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Agung Purwanto

Public Accountant Registration No. AP.0687

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February 21, 2023

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Table of Contents | The original financial statements included here in are in the Indonesian language.

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ROGRAM 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) ​

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|  |  |  | ​ | ​ |
|  | Notes |  | December 31, 2022 | ​ | December 31, 2021
ASSETS |  |  |  | ​ | ​ |
Current Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and Cash Equivalents |  | 2b,4 |  | 11,599,419,605 | ​ | 7,445,080,497
Loan to Foster Partners net of allowance for impairment losses of Rp84,929,581,437 (2021: Rp83,373,615,274) |  | 2c,2d,5 |  | 293,000,450,534 | ​ | 276,896,678,393
Total Current Assets | ​ | ​ | ​ | 304,599,870,139 | ​ | 284,341,758,890
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Non Current Asset | ​ | ​ | ​ | ​ | ​ | ​
Other Asset | ​ | ​ | ​ | ​ | ​ | ​
Troubled Loan net of allowance for impairment losses of Rp289,951,899,219 (2021: Rp295,929,999,474) | ​ | 2f,6 | ​ | - | ​ | -
Total Non Current Assets | ​ | ​ | ​ | - | ​ | -
TOTAL ASSETS | ​ | ​ | ​ | 304,599,870,139 | ​ | 284,341,758,890
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LIABILITIES AND NET ASSETS | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ | ​ | ​ | ​ | ​ | ​
Current Liabilities | ​ | ​ | ​ | ​ | ​ | ​
Payables and Other Current Liabilities | ​ | 2i, 7 | ​ | 380,916,088 | ​ | 372,611,905
Overpayment of Installments | ​ | 2h, 8 | ​ | 203,691,711 | ​ | 396,999,537
TOTAL LIABILITIES | ​ | ​ | ​ | 584,607,799 | ​ | 769,611,442
NET ASSETS | ​ | ​ | ​ | ​ | ​ | ​
Without Restrictions from Resource Provider | ​ | 2j | ​ | 304,015,262,340 | ​ | 283,572,147,448
With Restrictions from Resource Provider | ​ | 2j | ​ | - | ​ | -
Total net assets | ​ | ​ | ​ | 304,015,262,340 | ​ | 283,572,147,448
TOTAL LIABILITIES AND NET ASSETS | ​ | ​ | ​ | 304,599,870,139 | ​ | 284,341,758,890

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The accompanying notes form an integral part of these financial statements

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Table of Contents | The original financial statements included here in are in the Indonesian language.

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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) ​

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|  |  |  | ​ |  | ​
|  |  |  | Year Ended December 31,
|  | Notes |  | 2022 |  | 2021
WITHOUT RESTRICTIONS FROM RESOURCE PROVIDER |  |  |  | ​ |  | ​
REVENUE |  |  |  | ​ |  | ​
Loan Administration Service Income |  | 9 |  | 15,482,696,576 | ​ | 9,559,461,619
Interest Income on |  | 10 |  | 301,902,379 | ​ | 294,205,015
Other Income |  | ​ |  | 46,014,976 | ​ | 28,660,546
TOTAL REVENUE |  | ​ |  | 15,830,613,931 | ​ | 9,882,327,180
INCOME/(EXPENSES) |  |  |  | ​ | ​ | ​
Recovery/(Allowance) for Impairment of Loan | ​ | 5d | ​ | 4,422,134,092 | ​ | 6,154,150,201
Other Income/(Expenses) | ​ | ​ | ​ | 190,366,869 | ​ | 168,114,440
TOTAL EXPENSES |  |  |  | 4,612,500,961 | ​ | 6,322,264,641
SURPLUS |  |  |  | 20,443,114,892 | ​ | 3,560,062,539
WITH RESTRICTIONS FROM RESOURCE PROVIDER |  |  |  | - | ​ | -
OTHER COMPREHENSIVE INCOME |  |  |  | - | ​ | -
TOTAL COMPREHENSIVE INCOME |  |  |  | 20,443,114,892 | ​ | 3,560,062,539

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The accompanying notes form an integral part of these financial statements

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Table of Contents | The original financial statements included here in are in the Indonesian language.

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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) ​

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|  |  |  | Year Ended December 31,
|  | Notes |  | 2022 |  | 2021
NET ASSETS | ​ | ​ | ​ | ​ | ​ | ​
WITHOUT RESTRICTIONS FROM RESOURCE PROVIDER |  |  |  | ​ |  | ​
Beginning balance | ​ | ​ | ​ | 283,572,147,448 | ​ | 280,012,084,909
Surplus | ​ | ​ | ​ | 20,443,114,892 | ​ | 3,560,062,539
Ending balance | ​ | ​ | ​ | 304,015,262,340 | ​ | 283,572,147,448
Other comprehensive income | ​ | ​ | ​ | - | ​ | -
Total | ​ | ​ | ​ | 304,015,262,340 | ​ | 283,572,147,448
WITH RESTRICTIONS FROM RESOURCE PROVIDER | ​ | ​ | ​ | - | ​ | -
TOTAL NET ASSETS | ​ | ​ | ​ | 304,015,262,340 | ​ | 283,572,147,448

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The accompanying notes form an integral part of these financial statements

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Table of Contents | The original financial statements included here in are in the Indonesian language.

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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)

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|  | ​ |  | ​ | ​
|  | Year Ended December 31, | ​
|  | 2022 |  | 2021 | ​
OPERATING ACTIVITIES |  | ​ |  | ​ | ​
Reconciliation of surplus (deficit) to net cash from operating activities | ​ | ​ | ​ | ​ | ​
Surplus |  | 20,443,114,892 | ​ | 3,560,062,539 | ​
Reconciliation: |  | ​ | ​ | ​ |
(Reversal)/additional allowance for impairment of loans |  | 4,422,134,092 | ​ | 6,154,150,201 |
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Change in asset and liability |  | ​ | ​ | ​ |
Loans to fosters partners |  | (11,681,638,049) | ​ | (5,875,563,464) | ​
Overpayment of installments |  | 193,307,826 | ​ | 237,720,533 |
Payables and other current liabilities |  | 8,304,183 | ​ | (2,209,369) | ​
Accrued expenses | ​ | - | ​ | (541,750,000) | ​
NET CASH FLOWS RECEIVED TO OPERATING ACTIVITIES |  | 4,154,339,108 | ​ | 3,532,410,440 | ​
INCREASE IN CASH AND CASH EQUIVALENTS |  | 4,154,339,108 | ​ | 3,532,410,440 | ​
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  | 7,445,080,497 | ​ | 3,912,670,057 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | 11,599,419,605 | ​ | 7,445,080,497 |

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The accompanying notes form an integral part of these financial statements

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Table of Contents | The original financial statements included here in 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)

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1. | INFORMATION OF COMMUNITY DEVELOPMENT CENTER UNIT
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​ | a. | Establishment and General Information
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​ | ​ | Pusat Pengelolaan Program Tanggung Jawab Sosial dan Lingkungan (Community Development Center) (“CDC”) was established by Perusahaan Perseroan (Persero) 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 Development Center) Establishment. This company regulation has been amended several times, most recently with Decree of the Director of Human Capital Management Number: PR.202.60/ r.02/ HK200/ COP-A2000000/ 2021 dated November 25, 2021 regarding Organization of Community Development Center.
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​ | ​ | 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.
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​ | ​ | 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) PT Telekomunikasi Indonesia Tbk issued Decree of the Directors No. KD. 30/PR000/COP-B0030000/2007 dated June 6, 2007 regarding Management of Partnership Program and Community Development Program which then is amended by Decree of the Directors No. KD.21/PR0000/COP-B0030000/2010 dated April 19, 2010 regarding Management of Partnership Program and Community Development Program.

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Table of Contents | The original financial statements included here in 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)

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1. | INFORMATION OF COMMUNITY DEVELOPMENT CENTER UNIT (continued)
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​ | a. | Establishment and General Information (continued)
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​ | ​ | PER-05/MBU/2007 has been amended for several times including the amendment on September 10, 2013, Minister of SOE issued PER-08/MBU/2013 regarding the 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 Program replaced PER-05/MBU/2007.
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​ | ​ | 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.
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​ | ​ | 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.
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​ | ​ | On July 5, 2017, Ministry of SOE issued PER-02/MBU/07/2017 as second amendment to Ministry Regulation of SOE No: PER-09/MBU/07/2015.
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​ | ​ | On April 2, 2020, Ministry of SOE issued PER-02/MBU/04/2020 as third amendment to Ministry Regulation of SOE No: PER-09/MBU/07/2015.
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​ | ​ | On April 20, 2021, Ministry of SOE issued PER-05/MBU/04/2021 regarding Social and Environmental Responsibility Program (TJSL).
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​ | ​ | On September 15, 2022, Ministry of SOE issued PER-06/MBU/09/2022 regarding Social and Environmental Responsibility Program (TJSL)
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​ | ​ | CDC head office is located at Graha Merah Putih PT Telkom Indonesia (Persero) Tbk, Gatot Subroto Kav. 52 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.

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Table of Contents | The original financial statements included here in 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)

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1. | INFORMATION OF COMMUNITY DEVELOPMENT CENTER UNIT (continued)
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​ | b. | Primary Activities
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​ | ​ | One of CDC’s primary activities are financing and developing Micro and Small Business (SME) through Program Pendanaan UMK (PUMK).
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​ | c. | Funding Resources
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​ | ​ | 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.
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​ | d. | Management Structures
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​ | ​ | Management structures of CDC as of December 31, 2022 and 2021 is as follows:

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​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021
​ | ​ | Senior General Manager | Hery Susanto | ​ | Hery Susanto
​ | ​ | Supporting Management: | ​ | ​ | ​
​ | ​ | Senior Manager of Planning and Controlling | M. Wahyudi | ​ | M. Wahyudi
​ | ​ | Senior Manager of Finance | Soni Galih Riadi | ​ | Soni Galih Riadi
​ | ​ | Senior Manager of SME Empowerment Program - ad interim | M. Wahyudi | ​ | Romles Simanjuntak
​ | ​ | Senior Manager of Social and Environment Empowerment | Suharsono | ​ | Suharsono
​ | ​ | Senior Manager of Rumah BUMN | Bambang Febriansyah | ​ | Bambang Febriansyah

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Table of Contents | The original financial statements included here in 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)

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1. | INFORMATION OF COMMUNITY DEVELOPMENT CENTER UNIT (continued)
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​ | d. | Management Structure (continued)
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​ | ​ | B Based on KD.21/PR000/COP-B0030000/2010 regarding Management of Partnership 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.
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​ | ​ | Number of employees as of December 31, 2022 and 2021 are as follows:

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​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021
​ | ​ | CDC Corporate | 33 | ​ | 31
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​ | ​ | 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.
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​ | ​ | Witholding and payment for income tax Article 21 of the Foster SOE’s employee who is assigned at CDC are performed by the Foster SOE.
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​ | e. | Authorization of the Issuance of Financial Statement
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​ | ​ | The financial statements were completed and authorized for issuance by CDC’s Management on February 21, 2023.

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Table of Contents | The original financial statements included here in 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)

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2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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​ | The significant accounting principles which are applied consistently in the preparation of the financial statements for year ended December 31, 2022 are as follows:
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​ | a. | Basis of Preparation of Financial Statements
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​ | ​ | 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.
​ | ​ | ​
​ | ​ | The implementation of SAK ETAP in the preparation of the financial statement is based on Minister of SOE Circular 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. ​
​ | ​ | 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.
​ | ​ | ​
​ | ​ | 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.
​ | ​ | ​
​ | ​ | The financial reporting period of CDC is January 1 - December 31.
​ | ​ | ​
​ | ​ | Amounts in the financial statements are presented in Rupiah which also represents its functional currency.
​ | ​ | ​
​ | b. | Cash and Cash Equivalents
​ | ​ | ​
​ | ​ | Cash and cash equivalents consist of cash in banks.

​

​

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9

Table of Contents | The original financial statements included here in 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. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
​ | ​
​ | c. | Loan
​ | ​ | ​
​ | ​ | 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 loan based on its collectibility are as follows:
​ | ​ | 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 service 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.

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10

Table of Contents | The original financial statements included here in 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. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
​ | ​
​ | c. | Loan (continued)
​ | ​ | ​
​ | ​ | The classification of loan based on its collectibility are as follows: (continued)
​ | ​ | ​ | ​
​ | ​ | 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. | Allowance for Impairment of Loan
​ | ​ | ​
​ | ​ | Allowance for impairment of loan represents allowance for doubtful loan. This allowance is calculated based on the Management’s CDC estimation of their collectibility.
​ | ​ | ​
​ | ​ | 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 individual impairment, regardless those loans are significant or insignificant, CDC classifies these loan as having similar credit risk characteristics and determining the impairment collectively.
​ | ​ | ​
​ | ​ | 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.

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11

Table of Contents | The original financial statements included here in 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)

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. | ​ | ​
2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
​ | ​
​ | e. | Fixed Asset Not in Use
​ | ​ | ​
​ | ​ | 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:

​

​

​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Asset type | Depreciation Rate | ​ | Useful Life
​ | ​ | Computer | 50% |  | 2
​ | ​ | Office equipment | 50% | ​ | 2

​

. | ​ | ​
​ | ​ | 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.
​ | ​ | ​
​ | ​ | 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.
​ | ​ | ​
​ | ​ | 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 Unit’s fixed assets. However, until the completion date of the financial statements, an approval has not been received.
​ | ​ | ​
​ | f. | Troubled Loan
​ | ​ | ​
​ | ​ | 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.

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12

Table of Contents | The original financial statements included here in 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)

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​ | ​ | ​
2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
​ | ​
​ | g. | Accrued Expenses
​ | ​ | ​
​ | ​ | Accrued expenses are expenses that must be paid by CDC which occur due to service received but no payment was made.
​ | ​ | ​
​ | h. | Overpayment of Installments
​ | ​ | ​
​ | ​ | Overpayment of installments represents repayment from foster partners which exceeds its loan balance. This overpayment is 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 Management Director Number: 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.
​ | ​ | ​
​ | i. | Payables and Other Current Liabilities
​ | ​ | ​
​ | ​ | Payables and other current liabilities are recognized when transactions occur or when contract are completed and recognized based on transaction amount or contracts.
​ | ​ | ​
​ | 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 restrictions from resource provider represent assets that can be utilized without being limited for specific purposes.

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13

Table of Contents | The original financial statements included here in 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)

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. | ​ | ​
2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
​ | ​
​ | k. | Revenue and Expense
​ | ​ | ​
​ | ​ | Loan Administration Service Income
​ | ​ | ​
​ | ​ | Administration service income is measured and recognized as incurred as stated in the contract for current and substandard loan.
​ | ​ | ​
​ | ​ | Interest income
​ | ​ | ​
​ | ​ | Interest income is recognized based on accrual basis. Interest income is measured and recorded based on stipulated amount determined.
​ | ​ | ​
​ | ​ | Expense
​ | ​ | ​
​ | ​ | Expense is recognised as incurred.
​ | ​ | ​
​ | ​ | Fostering partnership funds are recognized when the funds are distributed.
​ | ​ | ​
​ | ​ | As implementation of PER-05/MBU/04/2021, Fostering Partnership Funds become part of the expense of the Foster SOE’s TJSL Program.
​ | ​ | ​
​ | ​ | Taxation
​ | ​ | ​
​ | ​ | Tax transactions in relation to CDC are charged to CDC and reported by the Foster SOE.
​ | ​ | ​
3. | ACCOUNTING JUDGEMENTS, ESTIMATION, AND ASSUMPTION
​ | ​
​ | a. | Judgements
​ | ​ | ​
​ | ​ | The determination of functional currency
​ | ​ | ​
​ | ​ | 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.

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14

Table of Contents | The original financial statements included here in 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. | ACCOUNTING JUDGEMENTS, ESTIMATION, AND ASSUMPTION (continued)
​ | ​ | ​
​ | a. | Judgements (continued)
​ | ​ | ​
​ | ​ | Allowance for impairment of loan
​ | ​ | ​
​ | ​ | 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 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. | Estimations and Assumptions
​ | ​ | ​
​ | ​ | Allowance for impairment of loan
​ | ​ | ​
​ | ​ | 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.
​ | ​ | ​
​ | ​ | CDC also assesses the allowance for impairment loss collectively, grouped by the same loan risks, regardless requires 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 current value and historical rate of loan collectability.

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15

Table of Contents | The original financial statements included here in 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. | ACCOUNTING JUDGEMENTS, ESTIMATION, AND ASSUMPTION (continued)
​ | ​
​ | b. | Estimations and Assumptions (continued)
​ | ​ | ​
​ | ​ | 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. | CASH AND CASH EQUIVALENTS

​

​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021
​ | Cash in Bank: | ​ | ​ | ​
​ | PT Bank Mandiri (Persero) Tbk | 5,601,276,696 | ​ | 3,390,277,752
​ | PT Bank Negara Indonesia (Persero) Tbk | 3,301,996,025 | ​ | 4,054,802,745
​ | PT Bank Syariah Indonesia (Persero) Tbk | 2,696,146,884 | ​ | -
​ | Total Cash and Cash Equivalents | 11,599,419,605 | ​ | 7,445,080,497

​

​

​ | ​ | ​ | ​ | ​ | ​ | ​
5. | LOAN TO FOSTER PARTNERS
​ | ​
​ | a. | Loan to Foster Partners Classified by CD Regional

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021 | ​
​ | ​ | Loan to Foster Partners | ​ | ​ | ​ | ​
​ | ​ | CD Regional I Sumatera | 78,869,801,420 | ​ | 76,436,317,366 | ​
​ | ​ | CD Regional II DKI Jakarta & Banten | 55,370,480,606 | ​ | 51,630,987,720 | ​
​ | ​ | CD Regional III Jabar | 37,392,543,608 | ​ | 35,632,061,349 | ​
​ | ​ | CD Regional IV Jateng & DIY | 47,494,822,387 | ​ | 45,264,017,160 | ​
​ | ​ | CD Regional V Jatim & Madura | 75,285,453,474 | ​ | 73,376,692,454 | ​
​ | ​ | CD Regional VI Kalimantan | 45,652,380,063 | ​ | 41,866,668,190 | ​
​ | ​ | CD Regional VII Kawasan Timur Indonesia | 37,864,550,413 | ​ | 36,063,549,428 | ​
​ | ​ | Total | 77,930,031,971 | ​ | 360,270,293,667 | ​
​ | ​ | Allowance for Impairment of Loan | (84,929,581,437) | ​ | (83,373,615,274) | ​
​ | ​ | Total Loan to Foster Partners - Net | 293,000,450,534 | ​ | 276,896,678,393 | ​

​

​

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16

Table of Contents | The original financial statements included here in 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)

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. | ​ | ​
5. | LOAN TO FOSTER PARTNERS (continued)
​ | ​
​ | b. | Loan to Foster Partners Classified by Business Sector

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021 | ​
​ | ​ | Trading | 202,340,741,536 | ​ | 192,328,394,293 | ​
​ | ​ | Industry | 80,851,746,195 | ​ | 77,833,442,929 | ​
​ | ​ | Service | 59,171,986,477 | ​ | 56,037,409,262 | ​
​ | ​ | Farming | 11,995,501,388 | ​ | 11,357,901,320 | ​
​ | ​ | Fishing | 8,736,387,330 | ​ | 7,979,585,931 | ​
​ | ​ | Agriculture | 8,269,562,995 | ​ | 7,574,587,924 | ​
​ | ​ | Plantation | 4,161,211,880 | ​ | 3,808,826,540 | ​
​ | ​ | Others | 2,402,894,170 | ​ | 3,350,145,468 | ​
​ | ​ | Total | 377,930,031,971 | ​ | 360,270,293,667 | ​
​ | ​ | Allowance for Impairment of Loan | (84,929,581,437) | ​ | (83,373,615,274) | ​
​ | ​ | Total Loan to Foster Partners - Net | 293,000,450,534 | ​ | 276,896,678,393 | ​

​

​

​ | ​ | ​
​ | ​ | 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. Additional loans are distributed to finance the short-term funding requirements for the business operations.
​ | ​ | ​
​ | c. | Loan Administration Service Income
​ | ​ | ​
​ | ​ | Since 2008, the percentage of administration service income of loan for partnership program was based on the Decree on article 12 (2) of The Regulation of SOE Ministry No: PER-05/MBU/2007 dated April 17, 2007, which is 6% per annum from the principal of the loan.
​ | ​ | ​
​ | ​ | 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.
​ | ​ | ​
​ | ​ | Based on PER-05/MBU/04/2021 dated April 20, 2021, administration service income was determined by 6% per annum.

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17

Table of Contents | The original financial statements included here in 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. | LOAN TO FOSTER PARTNERS (continued)
​ | ​ | ​
​ | c. | Loan Administration Service Income (continued)
​ | ​ | ​
​ | ​ | Based on PER-06/MBU/09/2022 dated September 15, 2022, administration service income was determined by 3% per annum from the opening balance of the loan.
​ | ​ | ​
​ | d. | Allowance for Impairment of Loan to Foster Partners
​ | ​ | ​
​ | ​ | Movement of allowance for impairment of loan is as follow:

​

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021 | ​
​ | ​ | Beginning balance | 83,373,615,274 | ​ | 124,569,408,120 | ​
​ | ​ | Additional | 10,902,288,650 | ​ | 62,350,505,930 | ​
​ | ​ | Reversal | (4,278,571,317) | ​ | (46,490,504,333) | ​
​ | ​ | Reclassification as troubled loan | (5,067,751,170) | ​ | (57,055,794,443) | ​
​ | ​ | Ending Balance | 84,929,581,437 | ​ | 83,373,615,274 | ​

​

​

​ | ​ | ​ | ​ | ​ ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Loan Quality | ​ | Loan Aging (from maturity date) | ​ | Loan Balance | ​ | Allowance % | ​ | Accumulated Allowance | ​ | Expense (Recovery) Allowance | ​
​ | ​ | Foster Partners | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Collective assessment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Current | ​ | < 30 days | ​ | 272,931,204,899 | ​ | 0.64% | ​ | 1.733.220.983 | ​ | (1.102.643.915) | ​
​ | ​ | Substandard | ​ | > 30 days ≤ 180 days | ​ | 17,224,907,352 | ​ | 6.70% | ​ | 1.154.332.749 | ​ | (1.298.368.754) | ​
​ | ​ | Doubtful | ​ | > 180 days ≤ 270 days | ​ | 6,555,940,180 | ​ | 12.57% | ​ | 824.048.165 | ​ | (1.877.558.648) | ​
​ | ​ | Loss | ​ | > 270 days | ​ | 81,207,661,205 | ​ | 100.00% | ​ | 81.207.661.205 | ​ | 5.834.537.480 | ​
​ | ​ | Sub total | ​ | ​ | ​ | 377,919,713,636 | ​ | ​ | ​ | 84.919.263.102 | ​ | 1.555.966.163 | ​
​ | ​ | Troubled | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Foster Partner | ​ | ​ | ​ | 280,731,693,036 | ​ | 100.00% | ​ | 280.731.693.036 | ​ | (5.951.650.255) | ​
​ | ​ | Other Foster SOE/ Distributing Partners | ​ | ​ | ​ | 9,220,206,183 | ​ | 100.00% | ​ | 9.220.206.183 | ​ | (26.450.000) | ​
​ | ​ | Sub total | ​ | ​ | ​ | 289,951,899,219 | ​ | ​ | ​ | 289.951.899.219 | ​ | (5.978.100.255) | ​
​ | ​ | Individual assessment Additional Loan Foster Partners Substandard | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Substandard | ​ | ​ | ​ | 10,318,335 | ​ | 100.00% | ​ | 10.318.335 | ​ | - | ​
​ | ​ | Total | ​ | ​ | ​ | 667,881,931,190 | ​ | ​ | ​ | 374.881.480.656 | ​ | (4.422.134.092) | ​

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18

Table of Contents | The original financial statements included here in 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. | LOAN TO FOSTER PARTNERS (continued)
​ | ​
​ | d. | Allowance for Impairment of Loan to Foster Partners (continued)

​

​ | ​ | December 31, 2021
​ | ​ | Loan Quality | ​ | Loan Aging (from maturity date) | ​ | Loan Balance | ​ | Allowance % | ​ | Accumulated Allowance | ​ | Expense (Recovery) Allowance | ​
​ | ​ | Foster Partners | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Collective assessment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Current | ​ | < 30 days | ​ | 251,133,632,662 | ​ | 1.13% | ​ | 2,835,864,898 | ​ | 1,715,384,658 | ​
​ | ​ | Substandard | ​ | > 30 days < 180 days | ​ | 19,966,897,402 | ​ | 12.28% | ​ | 2,452,701,503 | ​ | 1,475,933,369 | ​
​ | ​ | Doubtful | ​ | > 180 days < 270 days | ​ | 13,786,321,543 | ​ | 19.60% | ​ | 2,701,606,812 | ​ | 2,103,394,196 | ​
​ | ​ | Loss | ​ | > 270 days | ​ | 75,373,123,726 | ​ | 100.00% | ​ | 75,373,123,726 | ​ | (46,500,823,404) | ​
​ | ​ | Sub total | ​ | ​ | ​ | 360,259,975,332 | ​ | ​ | ​ | 83,363,296,939 | ​ | (41,206,111,181) | ​
​ | ​ | Troubled | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Foster Partner | ​ | ​ | ​ | 286,683,343,291 | ​ | 100.00% | ​ | 286,683,343,291 | ​ | 47,350,443,047 | ​
​ | ​ | Other Foster SOE/ Distributing Partners | ​ | ​ | ​ | 9,246,656,183 | ​ | 100.00% | ​ | 9,246,656,183 | ​ | (500,000) | ​
​ | ​ | Sub total | ​ | ​ | ​ | 295,929,999,474 | ​ | ​ | ​ | 295,929,999,474 | ​ | 47,349,943,047 | ​
​ | ​ | Individual assessment Additional Loan Foster Partners | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Loss | ​ | ​ | ​ | 10,318,335 | ​ | ​ | ​ | 10,318,335 | ​ | 10,318,335 | ​
​ | ​ | Total | ​ | ​ | ​ | 656,200,293,141 | ​ | ​ | ​ | 379,303,614,748 | ​ | 6,154,150,201 | ​

​

​

. | ​
6. | OTHER ASSET
​ | ​
​ | 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:

​

​

​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2022 | ​ | 2021 | ​
​ | CD Regional I Sumatera | 61,593,873,574 | ​ | 63,714,943,461 | ​
​ | CD Regional II DKI Jakarta & Banten | 40,391,500,941 | ​ | 41,801,966,503 | ​
​ | CD Regional III Jabar | 46,951,230,032 | ​ | 45,798,422,935 | ​
​ | CD Regional IV Jateng and DIY | 23,997,654,788 | ​ | 24,544,425,328 | ​
​ | CD Regional V Jatim and Madura | 45,974,823,576 | ​ | 48,195,049,801 | ​
​ | 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 (“SHS”) | 7,602,387,468 | ​ | 7,627,387,468 | ​
​ | Baitul Mal Wal Tamwil (“BMT Hidayah”) | 1,617,818,715 | ​ | 1,619,268,715 | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Total | 289,951,899,219 | ​ | 295,929,999,474 | ​
​ | Allowance for Impairment of Troubled Loan | (289,951,899,219) | ​ | (295,929,999,474) | ​
​ | Troubled Loan Distribution - Net | - | ​ | - | ​

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19

Table of Contents | The original financial statements included here in 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. | OTHER ASSET (continued)
​ | ​
​ | Troubled Loan to Foster Partners Classified by CD Regional
​ | ​
​ | Movement of allowance for impairment of troubled loan is as follow:

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021 | ​
​ | ​ | Beginning balance | 295,929,999,474 | ​ | 248,580,056,427 | ​
​ | ​ | Additional | 5,067,751,170 | ​ | 57,055,794,443 | ​
​ | ​ | Reversal | (11,045,851,425) | ​ | (9,705,851,396) | ​
​ | ​ | Ending balance | 289,951,899,219 | ​ | 295,929,999,474 | ​

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. | ​
​ | 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 31, 2022 amounting to Rp289,951,899,219.

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​ | ​ | ​ | ​ | ​ | ​
7. | PAYABLES AND OTHER CURRENT LIABILITIES
​ | ​
​ | As of December 31, 2022 and 2021, this account represents incidental deposit.
​ | ​

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. | ​
8. | OVERPAYMENT OF INSTALLMENTS

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​ | ​ | ​ | December 31,
​ | ​ | ​ | 2022 | ​ | 2021
​ | Beginning Balance (Refund to foster partners) | 396,999,537 | ​ | 159,279,004
​ | Additional | 43,480,772 | ​ | 328,385,968
​ | Refund | (236,788,598) | ​ | (90,665,435)
​ | Ending Balance | 203,691,711 | ​ | 396,999,537

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20

Table of Contents | The original financial statements included here in 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)

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​ | ​ | ​ | ​ | ​ | ​
9. | LOAN ADMINISTRATION SERVICE INCOME

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​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year ended December 31,
​ | ​ | ​ | 2022 | ​ | 2021
​ | CD Regional I Sumatera | 3,043,107,021 | ​ | 1,970,401,968
​ | CD Regional II DKI Jakarta and Banten | 2,355,986,902 | ​ | 1,411,663,557
​ | CD Regional III Jabar | 1,389,465,716 | ​ | 847,352,661
​ | CD Regional IV Jateng and DIY | 1,994,521,838 | ​ | 1,321,872,364
​ | CD Regional V Jatim and Madura | 2,915,537,163 | ​ | 1,907,598,206
​ | 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
​ | Total | 15,482,696,576 | ​ | 9,559,461,619

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10. | INTEREST INCOME
​ | ​
​ | As of December 31, 2022 and 2021, this account represents interest income from current account.

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11. | TRANSACTIONS AND BALANCES WITH RELATED PARTIES
​ | ​
​ | The relationship and nature of account balances/transactions with related parties were as follows:

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​ | Relation | Related parties | Transactions
​ | Foster SOE | PT Telekomunikasi Indonesia (Persero) Tbk. | Fostering partnership expenses
​ | Entity under common control of the Government | PT Bank Negara Indonesia (Persero) Tbk. | Banking services
​ | Entity under common control of the Government | PT Bank Mandiri (Persero) Tbk. | Banking services
​ | Entity under common control of the Government | PT Bank Syariah Indonesia (Persero) Tbk. | Banking services
​ | Entity under common control of the Government | PT Sang Hyang Seri (Persero) | Other Foster SOE

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21

Table of Contents | The original financial statements included here in 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)

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11. | TRANSACTIONS AND BALANCES WITH RELATED PARTIES (CONTINUED)
​ | ​
​ | The relationship and nature of account balances/transactions with related parties were as follows:(continued)
​ | ​
​ | The details of accounts and significant transactions with related parties are as follows:

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​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2022 | ​ | 2021
​ | Assets | ​ | ​ | ​
​ | Cash and Cash Equivalents (Note 4) | ​ | ​ | ​
​ | Cash in banks | ​ | ​ | ​
​ | PT Bank Mandiri (Persero) Tbk. | 5,601,276,696 | ​ | 3,390,277,752
​ | PT Bank Negara Indonesia (Persero) Tbk. | 3,301,996,025 | ​ | 4,054,802,745
​ | PT Bank Syariah Indonesia (Persero) Tbk. | 2,696,146,884 | ​ | -
​ | ​ | 11,599,419,605 | ​ | 7,445,080,497
​ | ​ | ​ | ​ | ​
​ | Loan to Other Foster SOE or Distributing Partners (Note 6) | ​ | ​ | ​
​ | PT Sang Hyang Seri (Persero) | 7,602,387,468 | ​ | 7,627,387,468
​ | Allowance for Impairment of Troubled Loan | (7,602,387,468) | ​ | (7,627,387,468)
​ | Total loan | - | ​ | -
​ | Total assets in affiliated parties | 11,599,419,605 | ​ | 7,445,080,497
​ | Total assets | 304,599,870,139 | ​ | 284,341,758,890
​ | As percentage to total assets | 3.81% | ​ | 2.62%

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22

Table of Contents | The original financial statements included here in 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)

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11. | TRANSACTIONS AND BALANCES WITH RELATED PARTIES (CONTINUED)
​ | ​

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​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ | 2021 | ​ | 202
​ | Revenues | ​ | ​ | ​
​ | Interest from Current Account | ​ | ​ | ​
​ | PT Bank Negara Indonesia (Persero) Tbk, | 221,034,470 | ​ | 96,045,980
​ | PT Bank Mandiri (Persero) Tbk, | 85,875,409 | ​ | 198,159,035
​ | PT Bank Syariah Indonesia (Persero) Tbk. | (5,007,500) | ​ | -
​ | Total interest from deposit and current account | 301,902,379 | ​ | 294,205,015
​ | Total revenues from related parties | 301,902,379 | ​ | 294,205,015
​ | Total revenue | 15,830,613,931 | ​ | 9,882,327,180
​ | As percentage to total revenue | 1.91% | ​ | 2.98%

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12. | STATEMENT OF CASH FLOWS - DIRECT METHOD

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​ | ​ | ​ | Year ended December 31,
​ | ​ | ​ | 2022 | ​ | 2021 | ​
​ | OPERATING ACTIVITIES | ​ | ​ | ​ | ​
​ | Loan repayments from foster partners | 226,749,898,042 | ​ | 217,575,755,118 | ​
​ | Payable payment | (372,611,905) | ​ | (374,821,274) | ​
​ | Receipt from loan administration service | 15,236,139,190 | ​ | 9,409,437,016 | ​
​ | Interest income | 301,902,379 | ​ | 294,205,015 | ​
​ | Fund transferred tofoster partners | (237,524,200,000) | ​ | (223,281,500,000) | ​
​ | Fostering partnership funds | - | ​ | (3,165,978,773) | ​
​ | Refund of fostering partnership funds | - | ​ | 3,165,978,773 | ​
​ | Refund to foster partners | (236,788,598) | ​ | (90,665,435) | ​
​ | NET CASH FLOWS RECEIVED TO OPERATING ACTIVITIES | 4,154,339,108 | ​ | 3,532,410,440 | ​
​ | INCREASE IN CASH AND CASH EQUIVALENTS | 4,154,339,108 | ​ | 3,532,410,440 | ​
​ | CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 7,445,080,497 | ​ | 3,912,670,057 | ​
​ | CASH AND CASH EQUIVALENTS AT END OF YEAR | 11,599,419,605 | ​ | 7,445,080,497 | ​

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