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DOKUMENTASI ANNUAL REPORT
PT TELKOM INDONESIA (PERSERO) TBK
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2018
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of event requiring this shell company report
Commission file number 1-14406
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk (Exact name of Registrant as specified in its charter)
Telecommunications Indonesia (a state-owned public limited liability company)
(Translation of Registrant’s name into English)
Republic of Indonesia (Jurisdiction of incorporation or organization)
Jl. Japati No. 1, Bandung 40133, Indonesia (Address of principal executive offices)
Investor Relations Unit
Telkom Landmark Tower, Jl. Jend. Gatot Subroto No. 52, 39th Floor, Jakarta 12710, Indonesia
(62) (22) 452-7101
(62) (21) 521-5109 (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act.
Title of Each class Trading Symbol(s) Name of each exchange on which registered
American Depositary Share representing 100 Series B Shares, par value 50 Rupiah per share TLK New York Stock Exchange
Series B Shares, par value 50 Rupiah per share New York Stock Exchange*
Securities registered or to be registered pursuant to Section 12(g) of the Act.
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common astock as of the close of the period covered by the Annual Report:
Series A Dwiwarna Share, par value 50 Rupiah per share 1 Series B Shares, par value 50 Rupiah per share 99,062,216,599
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the
preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of "accelerated filer and large accelerated
filer" in Rule 12b-2 of the Exchange Act.:
Large accelerated filer Accelerated filer Non-accelerated filer Emerging growth company
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to the extended
transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act.
The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after
April 5, 2012
Indicate by checkmark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP International Financial Reporting Standards as issued by the International Accounting Standards Board Other
If "Other" has been checked in response to the previous question, indicate by checkmark which financial statement item the registrant has elected to follow.
Item 17 Item 18
If this is an Annual Report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
* The Series B Shares were registered in connection with the registration of American Depositary Shares ("ADSs"). The Series B Shares are not listed for trading on the New York
TABLE OF CONTENTS
CERTAIN DEFINITIONS, CONVENTIONS AND GENERAL INFORMATION 11
FORWARD-LOOKING STATEMENTS 11
ITEM 1 IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS 12
ITEM 2 OFFER STATISTICS AND EXPECTED TIMETABLE 12
ITEM 3 KEY INFORMATION 12
ITEM 4 INFORMATION ON THE COMPANY 33
ITEM 4A UNRESOLVED STAFF COMMENTS 70
ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS 70
ITEM 6 DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 102
ITEM 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 115
ITEM 8 FINANCIAL INFORMATION 118
ITEM 9 THE OFFER AND LISTING 119
ITEM 10 ADDITIONAL INFORMATION 121
ITEM 11 QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 134
ITEM 12 DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 136
ITEM 13 DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 137
ITEM 14 MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND
USE OF PROCEEDS
ITEM 15 CONTROLS AND PROCEDURES 138
ITEM 16A AUDIT COMMITTEE FINANCIAL EXPERT 139
ITEM 16B CODE OF ETHICS 139
ITEM 16C PRINCIPAL ACCOUNTANT FEES AND SERVICES 139
ITEM 16D EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 140
ITEM 16E PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED
ITEM 16F CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT 141
ITEM 16G CORPORATE GOVERNANCE 141
ITEM 16H MINE SAFETY DISCLOSURE 143
ITEM 17 FINANCIAL STATEMENTS 143
ITEM 18 FINANCIAL STATEMENTS 143
ITEM 19 EXHIBITS 144
EXHIBIT 1.1 Articles of Association (as amended on July 2, 2018)
EXHIBIT 12.1 CEO Certification pursuant to section 302
EXHIBIT 12.2 CFO Certification pursuant to section 302
EXHIBIT 13.1 CEO Certification pursuant to section 906
EXHIBIT 13.2 CFO Certification pursuant to section 906
Table of Contents
The generic term for third generation mobile telecommunications technology. 3G offers high speed connections
to cellular phones and other mobile devices, enabling video conference and other applications requiring broadband
connectivity to the internet.
A grouping of disparate mobile telephony and data technologies designed to provide better performance than 3G
systems, as an interim step towards deployment of full 4G/LTE capability.
A fourth generation super fast internet network technology based on IP that makes the process of data transfer
much faster and more stable.
A fifth generation of cellular mobile communications which targets high data rate, reduced latency, energy saving,
cost reduction, higher system capacity and massive device connectivity.
American Depositary Share (also known as an American Depositary Receipt, or an "ADR"), a certificate traded
on a U.S. securities market (such as the New York Stock Exchange) representing a number of foreign shares. Each of our
ADS represents 100 shares of common stock.
Alat Pembayaran Menggunakan Kartu or card-based payment instruments, a payment instrument in the form of
credit cards, ATM and/or debit cards.
Average Revenue per User, a measure used primarily by telecommunications and networking companies which
states how much money we make from the average user. It is defined as the total revenue from specified services divided
by the number of consumers for those services.
Automated Teller Machine.
The main telecommunications network consisting of transmission and switching facilities connecting several
network access nodes. The transmission links between nodes and switching facilities include microwave, submarine cable,
satellite, fiber optic and other transmission technology.
The capacity of a communication link.
Table of Contents
Badan Pengawas Pasar Modal dan Lembaga Keuangan, or the Indonesian Capital Market and Financial