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To maintain its leadership in the Indonesian telecommunication industry market, TELKOM has developed new products and endeavored to enter new markets. The organizational transformation has been conducted since , aiming at transforming TELKOM into a customer centric company.
TELKOM has prepared and managed new businesses by launching new products and preparing a vehicle for its overseas expansion. TELKOM has launched new products and services, including the broadband internet access, and become more focused on the application and content business.
Responding to those challenges. Organizational Restructuring. Consumer Directorate focuses on being a delivery channel function management unit for the retail segment. This Directorate controls Regional Divisions seven regions. Finance Directorate focuses on being a Company finance management unit, and the Finance Center manages a centralized finance function. In addition to corporate office function, there are some units which have the same level as the directorate; Strategic Invesment and Corporate Planning unit, which focus on the corporate planning function and strategic business planning, and corporate support units, namely corporate communication, corporate affairs and internal audit units.
The telecommunication business environment has become increasingly competitive, while the demand for transparency from the stock exchange authority has been rising. To be able to boost its growth to a higher level than that of the industry in this situation, TELKOM needs to change its organization.
The organizational change should be able to respond quickly and accurately to the customers demand by providing products with higher quality than that of the competitors and satisfying services. In , the organization change was focused on restructuring some functions, which serve as a basis for ensuring quick and quality services.
Those functions are closely related to the implementation of the information technology management function and supply management, and to the risk management control function, namely the Risk Management, Legal and Compliance. The unit also conducted the functions of asset management and supply management. The implementation of the business activities were carried out by organization units, which are as follows:. Operating business management.
The corporate support function was carried out by the Corporate Affairs, Corporate Communication, and the Internal Audit. In addition, the RUPSLB did not appoint the deputy president director with the task and responsibility of the deputy president director because the COO was taken over by the directors of operating business lines controlled by the president director.
With the new structure, the regional division will function as a customer service division that is coordinated by the Consumer Directorate. Meanwhile, the Head Office will be the center following the establishment of the Finance Center and the Human Resources Center, which aim at creating a standardized system.
The Financial function is under the Finance Director and conducted centrally in terms of policy, while the finance operation in all business units are managed by the Finance Center unit. The three directorates constitute of organization units outside the Corporate Office, which are positioned as business units.
Each business unit is led by a director. The infrastructure and service management unit constitutes of an organization unit that is given the role to pay more attention to conduct infrastructure and service management. The two directorates are responsible to the President Director. Operations, maintenance and telecommunication services.
Dividend per share 1. Current liabilities 2. Capital stock 3. Exchange Rate Information. The exchange rates used for translation of monetary assets and liabilities denominated in foreign currencies are the buy and sell rates published by Reuters in , and The Reuters buy and sell rates, applied respectively to monetary assets and liabilities, were Rp. The consolidated financial statements are stated in Rupiah. The translations of Rupiah amounts into US Dollars are included solely for the convenience of the readers and have been made using the average of the market buy and sell rates of Rp.
The convenience translations should not be construed as representations that the Rupiah amounts have been, could have been, or can in the future be, converted into US Dollars at this or any other rate of exchange. Current political and social events in Indonesia may adversely impact business activity in Indonesia. These events have resulted in political instability, as well as general social and civil unrest on a number of occasions in the past few years.
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In both instances, the Government was forced to drop or substantially reduce such proposed increases. Actions by separatist movements and clashes between religious and ethnic groups have also resulted in social and civil unrest in parts of Indonesia. For example, in the province of Papua formerly Irian Jaya , there have been numerous clashes between supporters of separatist movements and the Indonesian military.
In the provinces of Maluku and Central Sulawesi Poso , clashes between religious groups have resulted in thousands of casualties and displaced persons in recent years. The Government has attempted to resolve problems in these troubled regions with limited success. Political and related social developments in Indonesia have been unpredictable in the past and there can be no assurance that social and civil disturbances will not occur in the future and on a wider scale, or that any such disturbances will not, directly or indirectly, have a material adverse effect on us or on an investment in the ADSs or Common Stock.
Further, these social and civil disturbances could continue to have a material adverse effect on investment and confidence in and the performance of the Indonesian economy and in turn our business. A bombing campaign struck religious buildings throughout Indonesia in This terrorist attack resulted in a significant decline in international tourism. Marriott Hotel in Jakarta killing at least 12 people and injuring more than people.
In October , multiple bombs exploded in two locations in Bali, killing 22 people and injuring at least Indonesian and United States government officials have indicated that some of these bombings may be the responsibility of Jemaah Islamiya, a Southeast Asian-based terrorist network allegedly linked to the international terrorist organization, Al-Qaeda. There can be no assurance that further terrorist acts will not occur in the future.
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A number of governments have from time to time issued warnings to their citizens in relation to a perceived increase in the possibility of terrorist activities in Indonesia, targeting foreign, particularly United States, interests. Such acts could destabilize Indonesia and increase internal divisions within the Government as it considers responses to such instability and unrest.
Violent acts arising from and leading to instability and unrest have in the past had, and could continue to have, a material adverse effect on investment and confidence in, and the performance of, the Indonesian economy and our business. There can be no assurance Continued depreciation or volatility of the Rupiah against the US Dollar or other currencies could adversely affect general economic conditions in Indonesia. Changes in the current exchange rate policy may result in significantly higher domestic interest rates, liquidity shortages, capital or exchange controls or the withholding of additional financial assistance by multilateral institutions.
Indonesia ended its Extended Financing Facility with the International Monetary Fund and the consequences thereof are unpredictable. Other consequences of ending the EFF are not known at this stage. Since the financial crisis of , the members of the Paris Club have been an important source of funding for the Government. The Paris Club is an informal voluntary group of 19 creditor countries that coordinates solutions for payment difficulties experienced by debtor nations.
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This was done by extending the period within which the amounts could be repaid. As of the date of this Annual Report, regional governments in Indonesia are not allowed to borrow in foreign currency and any change to Indonesian law allowing them to borrow in foreign currency could be a source of potential debt service problems. The World Bank and Asian Development Bank lending programs are subject to regular compliance reviews and can be reduced or withdrawn at any time.
The impact of any elimination of lending cannot be assessed but is likely to be materially adverse. The meeting resulted in the Any such downgrade would have an adverse impact on liquidity in the Indonesian financial markets and the ability of Indonesian companies, including TELKOM, to raise additional financing and the interest rates at which such additional financing is available. The tsunami and the earthquake caused approximately Rp. Scientists and seismic experts believe that rather than relieving stresses along the Sunda fault, located to the south of Sumatra, the seismic stresses along the Sunda fault continue unabated or have increased, and warned of the possibility of further earthquakes and tsunamis.
As a result of these natural disasters, TELKOM suffered asset and income losses from our network in those affected regions. To achieve this objective, TELKOM has determined that it should increase its focus on multimedia and other types of services in addition to its present core business concentration on local, domestic long-distance and mobile cellular services. The Government has an aggregate interest of approximately In addition, there can be no assurance that the Government will not direct opportunities to other telecommunications service providers in which it holds an interest.
The integrated networks consist of copper access network, optical access network, BTS, switches, optimal transmissions, satellites and application server. CDMA-based fixed wireless technology enables rapid development of telephone networks and reduces the capital expenditures per line by obviating the need for the installation of underground cables. Customers generally have all features offered by cellular services except roaming to other area code and internationally. Postpaid TELKOMFlexi customers are charged tariffs that are similar to PSTN tariff rates for this service while prepaid customers are charged tariffs slightly higher than postpaid rates but with no monthly fees.
TELKOM may need to raise significant additional funds in order to support its growth, undertake acquisitions, meet unexpected contingencies and develop new or enhanced services and products. It may also need to respond to competitive pressures, acquire complementary businesses or technologies or take advantage of opportunities.
TELKOM cannot be certain that such additional funding, if needed, will be available on acceptable terms, if at all. The telecommunications industry is capital intensive in nature. In order to satisfy customer demand and provide service and technology that is comparable to and compatible with, other telecommunications service providers, TELKOM must continue to expand and modernize its network, which involves substantial capital investment.
TELKOM relies heavily on its internal funds, two-step loans obtained through the Government and third-party financing, including vendor financing to support the development of its fixed line network. If TELKOM does not have sufficient internal funds or is unable to obtain adequate vendor or other third-party financing for its planned capital expenditures or otherwise fund such expenditures through other financing arrangements, TELKOM may have to forego, delay or postpone certain of its planned capital expenditures.
This may prevent TELKOM from being able to expand sufficiently and upgrade its network, which could adversely affect its revenues and growth.
Laws permitting the formation of labor unions, combined with weak economic conditions, have resulted and may continue to result, in labor unrest and activism in Indonesia. The Employment Law provide more protection for the employee, such as requiring a ruling from the Industrial Relations Court for termination of an employee in certain situations, and covers the increment of severance amount, service and compensation payment payable to terminated employees as well as to allow employees to unionize without intervention from employers.
The Employment Law and new implementation regulations that may be issued thereunder may substantially affect labor relations in Indonesia. The telecommunications industry is characterized by rapid and significant changes in technology.
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TELKOM may face increasing competition from technologies being developed or that may be developed in the future. New technologies, services or standards could require significant changes to its business model, the development of new products or the provision of additional services. In addition, due to changes in customer preferences or inefficiencies in existing infrastructure, TELKOM may need to substantially upgrade to a next generation network to implement convergent and cost-effective technologies and upgrade its billing and credit control systems to accommodate growth in its business and the adoption of new technologies and services.
New products and services may be expensive to develop and may result in the introduction of additional competitors into the marketplace. TELKOM cannot accurately predict how emerging and future technological changes will affect its operations or the competitiveness of its services. Similarly, TELKOM cannot provide any assurances that the technologies it adopts will not soon thereafter become obsolete or subject to intense competition from new technologies in the future. If TELKOM is unable to keep pace with rapid technological changes, its business, financial condition and results of operations could be materially and adversely affected.
There are a number of uncertainties in the current regulatory environment for the Indonesian telecommunications industry. In particular, the Telecommunications Law No. The Telecommunications Law only outlines the framework and substantive principles for the liberalization of the telecommunications industry. TELKOM considers that there is uncertainty in the Indonesian regulatory environment with regard to, among other things:. It may also impose certain mandatory obligations on the license holders.
Any breach of the terms and conditions of its licenses or business authority or failure to comply with applicable regulations may result in such licenses or business authority being revoked. However, such annual tariff review adjustment has not been applied on a consistent basis. There can be no assurance that the Government will implement further tariff increases or that tariffs will keep pace with costs over time. Any failure of the Government to implement regular tariff increases could have a material adverse effect on our business, financial condition and results of operations.