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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2023
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS | 31. RELATED PARTY TRANSACTIONS a. Nature of relationships and accounts/transactions with related parties Details of the nature of relationships and accounts/transactions with significant related parties are as follows: ​
Related parties |  | Nature of relationships |  | 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
State-owned enterprises | ​ | ​ | ​ | ​
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, finance costs, cash in bank, time deposits, loan, and consultant expenses
BNI | ​ | Entity under common control | ​ | Internet and data service revenues, other telecommunication service revenues, finance income, finance costs, cash in bank, time deposits, loan, consultant expenses, and financing
BRI | ​ | Entity under common control | ​ | Internet and data service revenues, other telecommunication service revenues, finance income, finance costs, cash in bank, time deposits, and loan
PT Taspen (Persero) (“Taspen”) | ​ | 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 electrical utility expenses
Related parties |  | Nature of relationships |  | Nature of accounts/ transactions
PT Asuransi Jasa Indonesia (“Jasindo”) | ​ | Entity under common control | ​ | Property and equipment insurance expenses and personal insurance expenses
PT BNI Life Insurance (“BNI Life Insurance”) | ​ | Entity under common control | ​ | Medical expenses
Bahana TCW | ​ | Entity under common control | ​ | Mutual funds
Sarana Multi Infrastruktur | ​ | Entity under common control | ​ | Other borrowings and finance costs
BTN | ​ | Entity under common control | ​ | Cash in bank and time deposits
BSI | ​ | Entity under common control | ​ | Cash in bank, time deposits, and loan
PT Omni Inovasi Indonesia Tbk. (“Omni Inovasi Indonesia”) | ​ | Associated company | ​ | Distribution of SIM cards and pulse reload voucher
PT Fintek Karya Nusantara (“Finarya”) | ​ | Associated company | ​ | Marketing expenses and distribution of SIM cards and pulse reload voucher
Indonusa | ​ | Associated company | ​ | Internet and data service revenues and other telecommunication service revenues
PT Kereta Cepat Indonesia China (“KCIC”) | ​ | Other related entity | ​ | Other telecommunication service revenues
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
​ The outstanding balances of trade receivables and payables as of December 31, 2022 and 2023 are unsecured and interest-free and the settlement is expected to occur in cash. There have been no guarantees provided or received for any related party receivables or payables. The Group recorded a decrease in impairment loss from trade receivables of related party amounted to Rp152 billion, Rp33 billion, and Rp91 billion for the years ended December 31, 2021, 2022, and 2023, respectively. b. Significant transactions with related parties The following are significant transactions with related parties: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | revenues | ​ | Amount | ​ | revenues | ​ | Amount | ​ | revenues
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Majority stockholder |  |  |  |  |  |  |  |  |  |  |  |
Ministry of Finance |  | 212 |  | 0.15 |  | 199 |  | 0.14 |  | 174 |  | 0.12
Entities under common control |  | ​ |  |  |  | ​ |  |  |  | ​ |  |
Government agencies |  | 5,598 |  | 3.91 |  | 3,029 |  | 2.06 |  | 3,235 |  | 2.17
Indosat |  | 1,056 |  | 0.74 |  | 1,923 |  | 1.31 |  | 2,195 |  | 1.47
Pertamina | ​ | 631 | ​ | 0.44 | ​ | 752 | ​ | 0.51 | ​ | 755 | ​ | 0.51
MoCI | ​ | 284 | ​ | 0.20 | ​ | 791 | ​ | 0.54 | ​ | 516 | ​ | 0.35
BNI |  | 404 |  | 0.28 |  | 493 |  | 0.33 |  | 509 |  | 0.34
BRI | ​ | 341 | ​ | 0.24 | ​ | 104 | ​ | 0.07 | ​ | 190 | ​ | 0.13
Bank Mandiri | ​ | 212 | ​ | 0.15 | ​ | 180 | ​ | 0.12 | ​ | 156 | ​ | 0.10
Taspen | ​ | 53 | ​ | 0.04 | ​ | 56 | ​ | 0.04 | ​ | 106 | ​ | 0.07
Others (each below Rp100 billion) |  | 1,495 |  | 1.04 |  | 1,370 |  | 0.94 |  | 900 |  | 0.60
Sub-total |  | 10,074 |  | 7.04 |  | 8,698 |  | 5.92 |  | 8,562 |  | 5.74
Associated companies |  | 16 |  | 0.01 |  | 6 |  | 0.00 |  | 8 |  | 0.01
Other related entities | ​ | 33 | ​ | 0.02 | ​ | 52 | ​ | 0.04 | ​ | 130 | ​ | 0.09
Total |  | 10,335 |  | 7.22 |  | 8,955 |  | 6.10 |  | 8,874 |  | 5.96
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | expenses | ​ | Amount | ​ | expenses | ​ | Amount | ​ | expenses
Expenses |  |  |  |  |  |  |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Entities under common control | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
MoCI |  | 8,570 |  | 8.64 |  | 9,965 |  | 9.82 |  | 10,300 | ​ | 9.88
PLN |  | 2,349 |  | 2.37 |  | 2,473 |  | 2.44 |  | 2,602 | ​ | 2.50
Indosat |  | 467 |  | 0.47 |  | 537 |  | 0.53 |  | 566 | ​ | 0.54
Jasindo |  | 385 |  | 0.39 |  | 296 |  | 0.29 |  | 198 | ​ | 0.19
Government agencies |  | 114 |  | 0.11 |  | 179 |  | 0.18 |  | 144 | ​ | 0.14
BNI Life Insurance | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 143 | ​ | 0.14
Bank Mandiri | ​ | 8 | ​ | 0.01 | ​ | — | ​ | — | ​ | 109 | ​ | 0.10
Others (each below Rp100 billion) |  | 200 |  | 0.20 |  | 229 |  | 0.23 |  | 272 | ​ | 0.26
Sub-total |  | 12,093 |  | 12.19 |  | 13,679 |  | 13.49 |  | 14,334 |  | 13.75
Associated companies |  |  |  |  |  |  |  |  |  |  |  |
Finarya |  | 125 |  | 0.13 | ​ | 110 | ​ | 0.11 | ​ | 126 | ​ | 0.12
Others (each below Rp100 billion) |  | 344 |  | 0.35 |  | 37 |  | 0.04 |  | 0 |  | 0.00
Sub-total |  | 469 |  | 0.48 |  | 147 |  | 0.15 |  | 126 |  | 0.12
Other related entities |  |  |  |  |  |  |  |  |  |  |  |
Padi UMKM |  | 269 |  | 0.27 |  | 626 |  | 0.62 |  | 561 |  | 0.54
Others (each below Rp100 billion) |  | 115 |  | 0.12 |  | 98 |  | 0.10 |  | 94 |  | 0.09
Sub-total |  | 384 |  | 0.39 |  | 724 |  | 0.72 |  | 655 |  | 0.63
Total |  | 12,946 |  | 13.06 |  | 14,550 |  | 14.36 |  | 15,115 |  | 14.50
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | finance income | ​ | Amount | ​ | finance income | ​ | Amount | ​ | finance income
Finance income |  |  |  |  |  |  |  |  |  |  |  |
Entities under common control |  |  |  |  |  |  |  |  |  |  |  |
State-owned banks |  | 348 |  | 62.37 |  | 459 |  | 52.28 |  | 312 |  | 29.41
Government agencies | ​ | 14 | ​ | 2.51 | ​ | 16 | ​ | 1.82 | ​ | 56 | ​ | 5.28
Total |  | 362 |  | 64.88 |  | 475 |  | 54.10 |  | 368 |  | 34.69
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | finance cost | ​ | Amount | ​ | finance cost | ​ | Amount | ​ | finance cost
Finance cost |  |  |  |  |  |  |  |  |  |  |  |
Majority stockholder |  |  |  |  |  |  |  |  |  |  |  |
Ministry of Finance |  | 17 |  | 0.39 |  | 10 |  | 0.25 |  | 5 |  | 0.11
Entities under common control |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
State-owned banks |  | 1,247 |  | 28.38 |  | 1,004 |  | 24.63 |  | 1,111 |  | 23.68
Sarana Multi Infrastruktur |  | 192 |  | 4.37 |  | 109 |  | 2.67 |  | 74 |  | 1.58
Sub-total | ​ | 1,439 | ​ | 32.75 | ​ | 1,113 | ​ | 27.30 | ​ | 1,185 | ​ | 25.26
Total |  | 1,456 |  | 33.14 |  | 1,123 |  | 27.55 |  | 1,190 |  | 25.37
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | revenues | ​ | Amount | ​ | revenues | ​ | Amount | ​ | revenue
Distribution of SIM card and voucher |  |  |  |  |  |  |  |  |  |  |  |
Associated companies |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Omni Inovasi Indonesia | ​ | 959 | ​ | 0.67 | ​ | 981 | ​ | 0.67 | ​ | 467 | ​ | 0.31
Finarya |  | — |  | — |  | 141 |  | 0.10 |  | 159 |  | 0.11
Total |  | 959 |  | 0.67 |  | 1,122 |  | 0.77 |  | 626 |  | 0.42
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | property and equipment purchased | ​ | Amount | ​ | property and equipment purchased
Purchase of property and equipment |  |  |  |  |  |  |  |
Entities under common control |  | 122 |  | 0.35 |  | 64 |  | 0.19
Total |  | 122 |  | 0.35 |  | 64 |  | 0.19
​ c. Balance of accounts with related parties
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | assets | ​ | Amount | ​ | assets
Cash and cash equivalents (Note 4) |  | 24,902 |  | 9.06 |  | 22,173 |  | 7.74
Other current financial assets (Note 5) |  | 400 |  | 0.15 |  | 800 |  | 0.28
Trade receivables (Note 6) |  | 2,009 |  | 0.73 |  | 2,357 |  | 0.82
Contract assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Majority stockholder | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ministry of Finance | ​ | 24 | ​ | 0.01 | ​ | 36 | ​ | 0.01
Entities under common control | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agencies | ​ | 295 | ​ | 0.11 | ​ | 293 | ​ | 0.10
Others (each below Rp100 billion) | ​ | 273 | ​ | 0.10 | ​ | 288 | ​ | 0.10
Sub-total | ​ | 568 | ​ | 0.21 | ​ | 581 | ​ | 0.20
Associated companies | ​ | 1 | ​ | 0.00 | ​ | 1 | ​ | 0.00
Other related entities | ​ | 1 | ​ | 0.00 | ​ | 1 | ​ | 0.00
Total | ​ | 594 | ​ | 0.22 | ​ | 619 | ​ | 0.21
Other current assets |  |  |  |  |  |  |  |
Entities under common control |  |  |  |  |  |  |  |
MoCI |  | 5,093 |  | 1.85 |  | 5,971 |  | 2.08
Others |  | 96 |  | 0.03 |  | 35 |  | 0.01
Sub-total |  | 5,189 |  | 1.88 |  | 6,006 |  | 2.09
Associated companies | ​ | 2 | ​ | 0.00 | ​ | 2 | ​ | 0.00
Other related entities |  | — |  | — |  | 16 |  | 0.01
Total |  | 5,191 |  | 1.88 |  | 6,024 |  | 2.10
Other non-current assets |  |  |  |  |  |  |  |
Entities under common control |  |  |  |  |  |  |  |
MoCI |  | 1,291 |  | 0.47 |  | 1,987 |  | 0.69
Others |  | 16 |  | 0.01 |  | 6 |  | 0.00
Total |  | 1,307 |  | 0.48 |  | 1,993 |  | 0.69
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | liabilities | ​ | Amount | ​ | liabilities
Trade payables (Note 16) |  |  |  |  |  |  |  |
Majority stockholder |  |  |  |  |  |  |  |
Ministry of Finance |  | 0 |  | 0.00 |  | 17 |  | 0.01
Entities under common control |  |  |  |  |  |  |  |
MoCI |  | 1,342 |  | 1.07 |  | 2,400 |  | 1.84
Indosat |  | 140 |  | 0.11 |  | 129 |  | 0.10
BNI | ​ | 85 | ​ | 0.07 | ​ | 120 | ​ | 0.09
Bank Mandiri | ​ | 14 | ​ | 0.01 | ​ | 105 | ​ | 0.08
Others (each below Rp100 billion) |  | 138 |  | 0.11 |  | 95 |  | 0.07
Sub-total |  | 1,719 |  | 1.37 |  | 2,849 |  | 2.18
Associated companies |  | 13 |  | 0.01 |  | 40 |  | 0.03
Other related entities | ​ | 43 | ​ | 0.03 | ​ | 84 | ​ | 0.06
Total |  | 1,775 |  | 1.41 |  | 2,990 |  | 2.28
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued expenses |  |  |  |  |  |  |  |
Majority stockholder |  |  |  |  |  |  |  |
Ministry of Finance |  | 1 |  | 0.00 |  | 1 |  | 0.00
Entities under common control |  |  |  |  |  | ​ |  |
PLN |  | 57 |  | 0.05 |  | 100 |  | 0.08
Others |  | 76 |  | 0.06 |  | 76 |  | 0.06
Sub-total |  | 133 |  | 0.11 |  | 176 |  | 0.14
Total |  | 134 |  | 0.11 |  | 177 |  | 0.14
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2023
​ |  | ​ |  | % of total |  | ​ |  | % of total
​ | ​ | Amount | ​ | liabilities | ​ | Amount | ​ | liabilities
Contract liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Majority stockholder | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ministry of Finance | ​ | 34 | ​ | 0.03 | ​ | 18 | ​ | 0.01
Entities under common control | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Government agencies | ​ | 328 | ​ | 0.26 | ​ | 498 | ​ | 0.38
MoCI | ​ | 62 | ​ | 0.05 | ​ | 137 | ​ | 0.11
Others (each below Rp100 billion) | ​ | 171 | ​ | 0.14 | ​ | 313 | ​ | 0.24
Sub-total | ​ | 561 | ​ | 0.45 | ​ | 948 | ​ | 0.73
Associated companies | ​ | 2 | ​ | 0.00 | ​ | 14 | ​ | 0.01
Other related entities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
KCIC | ​ | — | ​ | — | ​ | 1,133 | ​ | 0.87
Others | ​ | 3 | ​ | 0.00 | ​ | 2 | ​ | 0.00
Sub-total | ​ | 3 | ​ | 0.00 | ​ | 1,135 | ​ | 0.87
Total | ​ | 600 | ​ | 0.48 | ​ | 2,115 | ​ | 1.62
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term bank loans (Note 19a) |  | 4,462 |  | 3.55 |  | 4,916 | ​ | 3.77
Two-step loans (Note 20a) |  | 209 |  | 0.17 |  | 84 | ​ | 0.06
Long-term bank loans (Note 20c) |  | 11,284 |  | 8.97 |  | 11,099 | ​ | 8.51
Other borrowings (Note 20d) |  | 1,314 |  | 1.04 |  | 362 | ​ | 0.28
​ d. Significant agreements with related parties i. The Government The Company obtained two-step loans from the Government (Note 20a). ii. Indosat The Company has an agreement with Indosat to provide international telecommunication services to the public. The Company has also entered into an interconnection agreement between the Company’s fixed line network (Public Switched Telephone Network or “PSTN”) and Indosat’s Global System for Mobile ("GSM”) cellular telecommunication network in connection with the implementation of Indosat Multimedia Mobile services and the settlement of related interconnection rights and obligations. The Company also has an agreement with Indosat for the interconnection of Indosat's GSM mobile cellular telecommunication network with the Company's PSTN, which enable each party’s customers to make domestic calls between Indosat’s GSM mobile network and the Company’s fixed line network, as well as enabling Indosat’s mobile customers to access the Company’s International Direct Dialing (“IDD”) service by dialing “007”. The Company has been handling customer billings and collections for Indosat. Indosat is gradually taking over the activities and performing its own direct billing and collection. The Company has received compensation from Indosat computed at 1% of the collections made by the Company starting from January 1, 1995, as well as the billing process expenses which are fixed at a certain amount per record. On December 11, 2008, the Company and Indosat agreed to implement IDD service charge tariff which already took into account the compensation for billing and collection. The agreement is valid and effective starting from January to December 2012, and is subsequently applicable up until a new agreement becomes available. On December 18, 2017, the Company and Indosat signed amendments to the interconnection agreements for the fixed line networks (local, Sambungan Langsung Jarak Jauh (“SLJJ”), and international) and mobile network for the implementation of cost-based tariff obligations under MoCI Regulation No. 8/Year 2006. These amendments took effect starting from January 1, 2018. Telkomsel also entered into an agreement with Indosat for the provision of international telecommunication services to its GSM mobile cellular customers. The Company also provides leased lines to Indosat and its subsidiaries, namely PT Aplikanusa Lintasarta ("Lintasarta"). The leased lines can be used by these companies for telephone, telegraph, data, telex, facsimile, or other telecommunication services. iii. Others The Company entered into an agreement with Lintasarta for the use of satellite transponders or the Company's subscribed circuit telecommunication satellite frequency channels. e. Remuneration of key management and supervisory personnel Key management personnel consists of the Directors of the Company and supervisory personnel consists of the Board of Commissioners. The Company provides remuneration in the form of salaries/honorarium and facilities to support the governance and oversight duties of the Board of Commissioners along with the leadership and management duties of the Directors. Total of such remuneration is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2022 | ​ | 2023 |
​ |  | ​ |  | % of total |  | ​ |  | % of total |  | ​ |  | % of total |
​ | ​ | Amount | ​ | expenses | ​ | Amount | ​ | expenses | ​ | Amount | ​ | expenses |
Board of Directors |  | 347 |  | 0.35 | ​ | 401 |  | 0.39 | ​ | 475 |  | 0.46 | ​
Board of Commissioners |  | 140 |  | 0.14 | ​ | 164 |  | 0.16 | ​ | 179 |  | 0.17 | ​
​ The amounts disclosed in the table are amounts recognized as general and administration expense during the reporting periods.

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