XML 68 R26.htm IDEA: XBRL DOCUMENT
v3.24.1

LONG-TERM LOANS AND OTHER BORROWINGS | 12 Months Ended
--- | ---
Dec. 31, 2023
LONG-TERM LOANS AND OTHER BORROWINGS |
LONG-TERM LOANS AND OTHER BORROWINGS | 20. LONG-TERM LOANS AND OTHER BORROWINGS Long-term loans and other borrowings consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Notes |  | 2022 |  | 2023
Two-step loans |  | 20a |  | 91 |  | —
Bonds and MTN |  | 20b |  | 4,793 |  | 4,795
Bank loans |  | 20c |  | 22,085 |  | 22,978
Other borrowings |  | 20d |  | 362 |  | —
Total |  |  |  | 27,331 |  | 27,773
​ Scheduled principal payments as of December 31, 2023 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year
​ |  | Notes |  | Total |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter
Bonds and MTN |  | 20b |  | 4,795 |  | 2,099 | ​ | — | ​ | — | ​ | — | ​ | 2,696
Bank loans |  | 20c |  | 22,978 |  | 6,512 | ​ | 5,801 | ​ | 3,858 | ​ | 3,019 | ​ | 3,788
Total |  |  |  | 27,773 |  | 8,611 |  | 5,801 |  | 3,858 |  | 3,019 |  | 6,484
​ a. Two-step loans Two-step loans are unsecured loans obtained by the Government from overseas banks which are then re-loaned to the Company. Loans obtained after July 1994 are payable in their original currencies and any resulting foreign exchange gain or loss is borne by the Company. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 2022 | ​ | 2023
​ | ​ | ​ | ​ | Outstanding | ​ | Outstanding
​ |  | ​ |  | Foreign currency |  | Rupiah |  | Foreign currency |  | Rupiah
Lenders | ​ | Currency | ​ | (in millions) | ​ | equivalent | ​ | (in millions) | ​ | equivalent
Overseas banks |  | Yen |  | 1,536 |  | 181 |  | 768 |  | 84
​ |  | Rp |  | — |  | 28 |  | ​ |  | —
Total |  |  |  |  |  | 209 |  |  |  | 84
Current maturities (Note 19b) |  |  |  |  |  | (118) |  |  |  | (84)
Long-term portion |  |  |  |  |  | 91 |  |  |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Principal payment | ​ | Interest payment | ​ | Interest rate per | ​
Lenders |  | Currency |  | schedule |  | period |  | annum | ​
Overseas banks | ​ | Yen | ​ | Semi-annually | ​ | Semi-annually | ​ | 2.95 | %
​ |  | Rp |  | Semi-annually |  | Semi-annually |  | 7.125 | %
​ The loans were intended for the development of telecommunications infrastructure and supporting telecommunications equipment. The loans will be settled semi-annually and due on various dates through 2024. The Company had used all facilities under the two-step loans program since 2008 and the withdrawal period for the two-step loans has ended. Under the loan covenants, the Company is required to maintain financial ratios as follows:
| i. | Projected net revenue to projected debt service ratio should exceed 1.2:1 for the two-step loans originating from Asian Development Bank (“ADB”).
| ii. | Internal financing (earnings before depreciation and finance costs) should exceed 20% compared to annual average capital expenditures for loans originating from the ADB.
As of December 31, 2023, the Company has complied with the above-mentioned ratios. b. Bonds and MTN ​
​ | ​ | ​ | ​ | ​
​ | ​ | Outstanding
Bonds and MTN | ​ | 2022 | ​ | 2023
Bonds | ​ |  | ​ |
2015 |  | ​ |  | ​
Series B |  | 2,100 |  | 2,100
Series C |  | 1,200 |  | 1,200
Series D |  | 1,500 |  | 1,500
MTN |  | ​ |  | ​
MTN Mitratel 2023 |  | — |  | 550
Total |  | 4,800 |  | 5,350
Unamortized debt issuance cost |  | (7) |  | (7)
Long-term portion |  | 4,793 |  | 5,343
Current maturities (Note 19b) |  | — |  | (548)
Long-term portion |  | 4,793 |  | 4,795
​
i. |  | Bonds
2015 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Interest payment | ​ | Interest rate | ​
Bonds | ​ | Principal | ​ | Issuer | ​ | Listed on | ​ | Issuance date | ​ | Maturity date | ​ | period | ​ | per annum | ​
Series A | ​ | 2,200 | ​ | The Company | ​ | IDX | ​ | June 23, 2015 | ​ | June 23, 2022 | ​ | Quarterly | ​ | 9.93 | %
Series B | ​ | 2,100 | ​ | The Company | ​ | IDX | ​ | June 23, 2015 | ​ | June 23, 2025 | ​ | Quarterly | ​ | 10.25 | %
Series C | ​ | 1,200 | ​ | The Company | ​ | IDX | ​ | June 23, 2015 | ​ | June 23, 2030 | ​ | Quarterly | ​ | 10.60 | %
Series D | ​ | 1,500 | ​ | The Company | ​ | IDX | ​ | June 23, 2015 | ​ | June 23, 2045 | ​ | Quarterly | ​ | 11.00 | %
Total | ​ | 7,000 | ​ |  |  |  | ​ |  | ​ |  |  |  |  |  | ​
​ The bonds are not secured by specific security but by all of the Company’s assets, movable or non-movable, either existing or in the future (Note 12b.x). The underwriters of the bonds are PT Bahana, TCW Management Investment (“Bahana TCW”), PT BRI Danareksa Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk. and the trustee is Bank Permata. The company received the proceeds from the issuance of bonds on June 23, 2015. The funds received from the public offering of bonds net of issuance costs, were used to finance capital expenditures which consisted of wave broadband, backbone, metro network, regional metro junction, information technology application and support, and acquisition of some domestic and international entities. As of December 31, 2023, the rating of the bonds issued by Pefindo is idAAA (Triple A). Based on the Indenture Trusts Agreement, the Company is required to comply with all covenants or restrictions, including maintaining financial ratios as follows: (a) Debt to equity ratio should not exceed 2:1. (b) EBITDA to interest ratio should not be less than 4:1. (c) Debt service coverage is at least 125%. As of December 31, 2023, the Company has complied with the above-mentioned ratio.
| ii. | MTN
On September 26, 2023, Mitratel issued MTN amounting to Rp550 billion which will be used to support the provision of funds for credit refinancing. MTN Mitratel 2023 with annual interest rate 6.20% will mature on October 26, 2024. Bank Mandiri was appointed as trustee for the issuance of MTN Mitratel 2023. The rating of the MTN issued by Pefindo is idAAA (Triple A). c. Bank loans ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 2022 | ​ | 2023
​ | ​ | ​ | ​ | Outstanding | ​ | Outstanding
​ | ​ | ​ | ​ | Foreign | ​ | ​ | ​ | Foreign | ​ | ​
​ |  | ​ |  | currency |  | Rupiah |  | currency | ​ | Rupiah
Lenders | ​ | Currency | ​ | (in millions) | ​ | equivalent | ​ | (in millions) | ​ | equivalent
Related parties | ​ |  | ​ |  | ​ |  | ​ |  | ​ |
BNI | ​ | Rp | ​ | — | ​ | 5,472 | ​ | — | ​ | 6,182
Bank Mandiri | ​ | Rp | ​ | — | ​ | 4,381 | ​ | — | ​ | 3,453
BRI | ​ | Rp | ​ | — | ​ | 1,409 | ​ | — | ​ | 955
BSI | ​ | Rp | ​ | — | ​ | 22 | ​ | — | ​ | 509
Sub-total | ​ | ​ | ​ |  | ​ | 11,284 |  |  | ​ | 11,099
Third parties | ​ | ​ | ​ |  | ​ |  |  |  | ​ |
BCA | ​ | Rp | ​ | — | ​ | 9,757 | ​ | — | ​ | 10,170
Syndication of banks | ​ | Rp | ​ | — | ​ | 680 | ​ | — | ​ | 2,500
​ | ​ | USD | ​ | 17 | ​ | 265 | ​ | 10 | ​ | 160
Bank CIMB Niaga | ​ | Rp | ​ | — | ​ | 2,221 | ​ | — | ​ | 2,110
​ | ​ | USD | ​ | 4 | ​ | 61 | ​ | 4 | ​ | 60
DBS | ​ | Rp | ​ | — | ​ | 1,500 | ​ | — | ​ | 1,500
Bank Permata | ​ | Rp | ​ | — | ​ | 1,021 | ​ | — | ​ | 1,313
Bank of China | ​ | Rp | ​ | — | ​ | 1,000 | ​ | — | ​ | 1,400
HSBC | ​ | Rp | ​ | — | ​ | 750 | ​ | — | ​ | 625
BJB | ​ | Rp | ​ | — | ​ | — | ​ | — | ​ | 500
MUFG Bank | ​ | Rp | ​ | — | ​ | 500 | ​ | — | ​ | 500
Bank Danamon | ​ | Rp | ​ | — | ​ | 455 | ​ | — | ​ | 273
PT Bank ANZ Indonesia ("Bank ANZ") | ​ | Rp | ​ | — | ​ | 198 | ​ | — | ​ | 110
UOB Singapore | ​ | USD | ​ | 13 | ​ | 205 | ​ | — | ​ | —
Others (each below Rp100 billion) | ​ | Rp | ​ | — | ​ | 60 | ​ | — | ​ | 13
​ | ​ | MYR |  | 10 |  | 34 | ​ | 9 |  | 29
Sub-total | ​ | ​ |  |  |  | 18,707 | ​ |  |  | 21,263
Total | ​ | ​ | ​ | ​ |  | 29,991 | ​ | ​ |  | 32,362
Unamortized debt issuance cost |  | ​ |  |  |  | (118) | ​ |  |  | (102)
​ | ​ | ​ |  |  |  | 29,873 | ​ |  |  | 32,260
Current maturities (Note 19b) | ​ | ​ | ​ | ​ | ​ | (7,788) | ​ | ​ | ​ | (9,282)
Long-term portion | ​ | ​ | ​ | ​ | ​ | 22,085 | ​ | ​ | ​ | 22,978
​ Other significant information relating to bank loans as of December 31, 2023 is as follows: ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | Current |  | ​ |  | ​ |  | ​ |  | ​
​ | ​ | ​ | ​ | ​ | ​ | Total | ​ | period | ​ | Principal | ​ | Interest | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | facility | ​ | payment | ​ | payment | ​ | payment | ​ | Interest rate | ​ | ​
​ | ​ | Borrower | ​ | Currency | ​ | (in billions)* | ​ | (in billions)* | ​ | schedule | ​ | period | ​ | per annum | ​ | Security**
BNI |  |  |  |  |  |  |  |  |  | ​ |  |  |  |  |  |
2013 - 2022 | ​ | The Company, GSD, TLT, Sigma, Mitratel | ​ | Rp | ​ | 10,175 | ​ | 1,281 | ​ | 2018 - 2033 | ​ | Monthly, Quarterly | ​ | 1 month JIBOR + 2.25%; 3 months JIBOR + 0.50% - 1.85% | ​ | Trade receivables and property and equipment
2018 | ​ | GSD | ​ | Rp | ​ | 182 | ​ | 10 | ​ | 2021 - 2024 | ​ | Quarterly | ​ | 8.50% | ​ | Trade receivables
Bank Mandiri | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2017 - 2023 | ​ | The Company, GSD, Mitratel, PST | ​ | Rp | ​ | 6,893 | ​ | 1,128 | ​ | 2019 - 2029 | ​ | Quarterly | ​ | 3 months JIBOR + 1.00% - 1.85% | ​ | None
BRI | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2017 - 2019 |  | The Company |  | Rp |  | 2,500 |  | 455 |  | 2019 - 2026 |  | Quarterly |  | 3 months JIBOR + 0.75% - 1.35% |  | None
BSI | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2018 - 2021 | ​ | SSI, Telkomsel | ​ | Rp | ​ | 1,055 | ​ | 509 | ​ | 2019 - 2025 | ​ | Monthly | ​ | 5.50% - 7.50% | ​ | None
BCA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2020 - 2023 |  | The Company, Mitratel |  | Rp |  | 4,500 |  | — |  | 2024 - 2030 |  | Quarterly |  | 6.75% - 6.80% |  | None
2020 - 2023 | ​ | The Company, PST, GSD | ​ | Rp | ​ | 9,186 | ​ | 1,359 | ​ | 2020 - 2031 | ​ | Quarterly | ​ | 3 months JIBOR + 1.00% - 1.50% | ​ | None
Syndication of banks | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ |  | ​ |
2018 | ​ | Telin | ​ | USD | ​ | 0 | ​ | 0 | ​ | 2020 - 2025 | ​ | Semi-annually | ​ | 6 months SOFR + 1.55% | ​ | None
2022 | ​ | Mitratel | ​ | Rp | ​ | 2,500 | ​ | 0 | ​ | 2024 - 2030 | ​ | Quarterly | ​ | 7.68% | ​ | None
Bank CIMB Niaga | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2019 - 2022 | ​ | PINS, Mitratel | ​ | Rp | ​ | 2,300 | ​ | 70 | ​ | 2021 - 2029 | ​ | Quarterly | ​ | 3 months JIBOR + 1.30% - 1.95% | ​ | None
2021 - 2022 | ​ | Telin | ​ | USD | ​ | 0 | ​ | — | ​ | 2024 - 2030 | ​ | Semi-annually | ​ | 6 months SOFR + 1.82% | ​ | None
DBS | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2021 | ​ | Mitratel | ​ | Rp | ​ | 3,500 | ​ | — | ​ | 2023 - 2028 | ​ | Quarterly | ​ | 3 months JIBOR + 1.20% | ​ | None
Bank Permata | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2020 - 2022 |  | Mitratel |  | Rp |  | 2,000 |  | 208 |  | 2021 - 2029 |  | Quarterly |  | 3 months JIBOR + 1.30% |  | None
Bank of China |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  | Telkomsel |  | Rp |  | 1,400 |  | 2,000 |  | 2021 - 2025 |  | Monthly |  | 4.90% |  | None
HSBC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | Mitratel |  | Rp |  | 750 |  | 125 |  | 2023 - 2028 |  | Quarterly |  | 3 months JIBOR + 1.85% |  | None
BJB | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2023 | ​ | Telkomsel | ​ | Rp | ​ | 1,000 | ​ | 2,000 | ​ | 2023 - 2025 | ​ | Monthly | ​ | 5.85% | ​ | None
MUFG Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | Mitratel |  | Rp |  | 500 |  | — |  | 2022 - 2028 |  | Quarterly |  | 3 months JIBOR + 1.15% |  | None
Bank Danamon |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | Mitratel |  | Rp |  | 636 |  | 181 |  | 2022 - 2025 |  | Quarterly |  | 3 months JIBOR + 1.50% |  | None
ANZ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2015 |  | GSD, PINS |  | Rp |  | 440 |  | 88 |  | 2020 - 2025 |  | Quarterly |  | 3 months JIBOR + 1.40% - 2.00% |  | None
*In original currency
** | Refer to Notes 6 and Notes 12 for details of trade receivables and property and equipment pledged as collaterals.
As stated in the agreements, the Group is required to comply with all covenants or restrictions such as dividend distribution, obtaining new loans, and maintaining financial ratios. On December 11, 2023, December 13, 2023, and December 22, 2023, the Group obtained waiver from BNI, Bank Mandiri, and BCA, respectively, related to the non-fulfillment financial ratios in Sigma and GSD. As of December 31, 2023, the Group has complied with all covenants regarding these financial ratios. The credit facilities were obtained by the Group for working capital purposes and investment purposes. As of December 31, 2023, the Group had Rp28,995 billion and USD96 million of undrawn committed borrowing facilities available . d. Other borrowings ​
​ | ​ | ​ | ​ | ​
​ | ​ | Outstanding
Lenders |  | 2022 |  | 2023
PT Sarana Multi Infrastruktur (Persero) |  | 1,315 |  | 362
("Sarana Multi Infrastruktur") Unamortized debt issuance cost |  | (1) |  | 0
Total |  | 1,314 |  | 362
Current maturities (Note 19b) |  | (952) |  | (362)
Long-term portion |  | 362 |  | —
​ Other significant information relating to other borrowings as of December 31, 2023 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Total facility | ​ | Current period | ​ | Principal payment | ​ | Interest rate | ​ | ​
​ |  | Borrower |  | Currency |  | (in billions) |  | payment (in billions) |  | schedule |  | per annum |  | Security
Sarana Multi | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastruktur | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
March 29, 2019* | ​ | The Company | ​ | Rp | ​ | 2,836 | ​ | 700 | ​ | Semi-annually (2020 - 2024) | ​ | 3 months JIBOR + 1.75% | ​ | None
March 29, 2019* |  | Telkomsat |  | Rp |  | 164 |  | 24 |  | Semi-annually (2020 - 2024) |  | 3 months JIBOR + 1.75% |  | None
* | Based on the latest amendment on June 15, 2020
Under the agreement, the Company and Telkomsat are required to comply with all covenants or restrictions, including maintaining financial ratios as follows: (a)Debt to equity ratio should not exceed 2:1 (b)Net debt EBITDA to interest ratio should not be less than 4:1 (c)Debt service coverage is at least 125% ​ As of December 31, 2023, the Company and Telkomsat has complied with the above-mentioned ratios.

X
- Definition N/A + References No definition available. + Details
Name: | tlk_DisclosureOfLongTermLoansAndOtherBorrowingsAbstract
Namespace Prefix: | tlk_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of long-term loans and other borrowings. + References No definition available. + Details
Name: | tlk_DisclosureOfLongTermLoansAndOtherBorrowingsTextBlock
Namespace Prefix: | tlk_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration