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SHORT-TERM BANK LOANS

12 Months Ended

Dec. 31, 2024

19. SHORT-TERM BANK LOANS


	Outstanding
Lenders	2023	2024
Related parties
Bank Mandiri	4,013	3,755
BNI	903	1,799
Sub-total	4,916	5,554
Third parties
PT Bank HSBC Indonesia ("HSBC")	2,547	2,440
MUFG Bank ("MUFG")	1,155	1,805
Bank of China	—	1,000
PT Bank DBS Indonesia ("DBS")	440	440
PT Bank Maspion Indonesia Tbk. ("Bank Maspion")	—	167
UOB Indonesia	500	100
Others	92	19
Sub-total	4,734	5,971
Total	9,650	11,525

Other significant information relating to short-term bank loans as of December 31, 2024 is as follows:

Total

facility

(in

Interest rate per

Borrower

Currency

billions)*

Maturity date

Interest rate

annum

Security**

Bank Mandiri

2020 - 2023

Finnet, PST

600

February 21, 2025 -
April 28, 2025

Monthly,
Quarterly

1 month
JIBOR + 1.30%
3 months
JIBOR + 1.25%

None

2021 - 2022

Nutech, Mitratel

3,550

July 25, 2025 -
September 27, 2025

Monthly

6.00% - 9.00%

Trade receivables and property and equipment

BNI

2014 - 2024

Sigma, GSD,
Mitratel

1,350

May 29, 2025 -
January 9, 2026

Monthly

6.00% - 8.50%

Trade receivables and property and equipment

2017 - 2021

Infomedia, Metranet,
Telkom Infra

1,135

February 18, 2025 -
June 6, 2025

Monthly

1 month JIBOR +
1.75% - 2.50%

Trade receivables

HSBC

2014

Sigma^a

400

November 6, 2025

Monthly

Under BLR 7.40%

Trade receivables

2018 - 2023

Sigma, Metra,
PINS, Metranet,
Telkomsat,
GSD, TDE

2,723

January 20, 2025 -
October 4, 2025

Monthly, Quarterly

1 month
JIBOR + 0.35% - 0.80%
3 months
JIBOR + 2.00%

None

MUFG

2018 - 2019

Infomedia,
Metra, GSD,
Telkom Infra,
Telkomsat

2,176

March 27, 2025 -
October 31, 2025

Monthly, Quarterly

1 month
JIBOR + 0.25% - 0.80%
3 months
JIBOR + 0.25% -0.80%

None

Bank of China

2020

The Company

1,000

October 23, 2025

Quarterly

4.90%

None

DBS

2018

Telkom Infra,
Infomedia

440

July 31, 2025

Monthly

1 month
JIBOR + 1.20%

None

Bank Maspion

2023

Metranet

170

January 26, 2025

Monthly

7.25%

None

UOB Indonesia

2016

Finnet

500

July 31, 2025

Monthly

1 month
JIBOR + 1.75%

None

*In original currency

**Refer to Note 6 and Note 12 for details of trade receivables and property and equipment pledged as collateral.

^aUnsettled loan will be automatically extended.

As stated in the agreements, the Group is required to comply with all covenants or restrictions such as limitation that the Company must have a majority shareholding of at least 51% of the subsidiaries and must maintain certain level of financial ratios. As of December 31, 2024, the Group has complied with all covenants regarding these financial ratios, except for Sigma which its current ratio and debt service coverage ratio are still lower than required. As of December 31, 2024, the Group obtained waiver for loan amounting to Rp758 billion from HSBC for the non-fulfillment financial ratios in Sigma. The waiver from HSBC was received on December 18, 2024 and effective for the 12 months after reporting period.

The credit facilities were obtained by the Group for working capital purposes.