TABLE OF CONTENTS Telkom at a Glance 1 Financial and Operational Highlights 2 Stock Highlights 4 Message from the Chairman of the Board 6 Message from the President Director to Shareholders 8 Business Overview 10 Steps toward Success 18 Human Resource 24 Society Development 26 Corporate Information 28 Management Discussion and Analysis 33 Financial Statements 48 History in brief: 1882 A private entity was established by the Dutch Colonial Administration to provide postal and telegraph services to the public. 1906 The Dutch Administration formed an agency to assume control of post and telegraph services referred to as Post, Telegraph en Telephone Dienst (“PTT”). 1945 Indonesia proclaimed her independence as a free and sovereign state from the Dutch Colonial Administration. 1961 The agency (PTT) status was changed to a state-owned and fully controlled company (Perusahaan Negara Pos dan Telekomunikasi (“PN Postel”). 1965 PN Postel was split into two companies: Perusahaan Negara Pos dan Giro (“PN Pos dan Giro”) to manage postal services, and Perusahaan Negara Telekomunikasi (“PN Telekomunikasi”) to manage telecommunications services. 1974 PN Telekomunikasi was changed into a semi profit-making company called Perusahaan Umum Telekomunikasi (“Perumtel”) providing domestic and international telecommunications services. 1980 PT Indonesian Satellite Corporation (“Indosat”) was established as a new separate company to operate international telecommunications services. 1991 Perumtel’s status was changed to a profit-making company called Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia (“Telkom”). 1995 Telkom successfully completed its initial public offering (IPO). Ever since TELKOM shares are listed at the Jakarta Stock Exchange (JSX), Surabaya Stock Exchange (SSX), New York Stock Exchange (NYSE) and London Stock Exchange (LSE). TELKOM also offered its shares through a Public Offering Without Listing (POWL) at Tokyo Stock Exchange. Vision : to become a leading
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T A B L E O F C O N T E N T STelkom at a Glance 1
Financial and Operational Highlights 2
Stock Highlights 4
Message from the Chairman of the Board 6
Message from the President Director to Shareholders 8
Business Overview 10
Steps toward Success 18
Human Resource 24
Society Development 26
Corporate Information 28
Management Discussion and Analysis 33
Financial Statements 48
History in brief:
1882A private entity was established by the Dutch ColonialAdministration to provide postal and telegraph servicesto the public.
1906The Dutch Administration formed an agency to assumecontrol of post and telegraph services referred to as Post,Telegraph en Telephone Dienst (“PTT”).
1945Indonesia proclaimed her independence as a free andsovereign state from the Dutch Colonial Administration.
1961The agency (PTT) status was changed to a state-ownedand fully controlled company (Perusahaan Negara Posdan Telekomunikasi (“PN Postel”).
1965PN Postel was split into two companies: PerusahaanNegara Pos dan Giro (“PN Pos dan Giro”) to manage postalservices, and Perusahaan Negara Telekomunikasi (“PNTelekomunikasi”) to manage telecommunications services.
1974PN Telekomunikasi was changed into a semi profit-makingcompany called Perusahaan Umum Telekomunikasi(“Perumtel”) providing domestic and internationaltelecommunications services.
1980PT Indonesian Satellite Corporation (“Indosat”) wasestablished as a new separate company to operateinternational telecommunications services.
1991Perumtel’s status was changed to a profit-making companycalled Perusahaan Perseroan (Persero) PT TelekomunikasiIndonesia (“Telkom”).
1995Telkom successfully completed its initial public offering(IPO). Ever since TELKOM shares are listed at the JakartaStock Exchange (JSX), Surabaya Stock Exchange (SSX), NewYork Stock Exchange (NYSE) and London Stock Exchange(LSE). TELKOM also offered its shares through a PublicOffering Without Listing (POWL) at Tokyo Stock Exchange.
Vi s i o n : t o b e c o m e a l e a d i n g
PT Telekomunikasi Indonesia, Tbk. (“Telkom”) is the most
prominent telecommunications service provider in Indonesia
providing information and communication (InfoCom)
services and network. Telkom directly and through its
associated companies provides a wide range of information
and communications (“InfoCom”) services and network
including fixed wire-lines), mobile (cellular), view (pay TV
and cable TV), internet and multimedia services as well as
other related services. Telkom currently holds majority
interests in PT Telekomunikasi Selular (“Telkomsel”),
(“Infomedia”), and PT Graha Sarana Duta (“GSD”). Telkom
also holds minority interests in other associated
companies. Its consolidated total assets as of December
31, 2001 was Rp 32.47 trillion.
Telkom at a glance
InfoCom company in the region
F I N A N C I A L A N D O P E R AT I O N A L H I G H L I G H T S
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Financial HighlightsThese selected financial data for the year ended December 31, 2001 is restated from the company’s consolidated financialstatements, and for the years ended December 31, 2000, 1999, 1998 and 1997 are restated from the company’s consolidatedfinancial statements.
Consolidated Statements of Income(In Millions of Rupiah and Thousands of U.S. Dollar, except shares and American Depositary Shares/ADS data)
OPERATING INCOME 7,615,700 749,208 5,678,153 3,741,234 2,765,744 2,449,397
OTHER INCOME (CHARGES) - NET (928,411) (91,334) (888,953) (166,527) (1,339,876) (803,629)INCOME BEFORE TAX 6,687,289 657,874 4,789,200 3,574,707 1,425,868 1,645,768
INCOME BEFORE MINORITY INTERESTSIN NET INCOME OF SUBSIDIARY 4,616,635 454,170 3,322,933 2,565,827 1,167,610 1,186,964
PRE ACQUISITION LOSS 108,080 10,633 - - - -
MINORITY INTERESTS INNET INCOME OF SUBSIDIARY (474,605) (46,690) (312,930) (162,115) (15,205) (9,134)
NET INCOME 4,250,110 418,113 3,010,003 2,403,712 1,152,405 1,177,560
Weighted Average Outstanding and Fully PaidShares (in Millions) (2) 10,079,999 - 10,079,999 9,644.274 9,333.333 9,333.333Net Income per Share (Rp) 421.64 0.04 298.61 249.23 123.47 126.17Net Income per ADS (Rp) 8,432.76 0.83 5,972.23 4,984.64 2,469.44 2,523.34Declared Dividends per Share (3) (Rp) - 88.16 107.75 50.99 48.47 48.47Declared Dividends per ADS (3) (Rp) - 1,706.20 2,155.00 1,019.80 969.40 969.40
Under US GAAPNet Income (millions of Rupiah) 4,036,641 397,112 2,952,133 2,621,235 814,928 841,745Net Income per Share (Rp) 400.46 0.04 292.87 271.79 87.31 90.19Net Income per ADS (Rp) 8,009.21 0.79 5,857.41 5,435.72 1,746.27 1,803.74
(1) Stated in US Dollar based on Bridge Telerate on February 28, 2002 of Rp 10,165 per US$ 1.00
(2) Prior to IPO on November 14, 1995 TELKOM shares were 8,400,000,000 and post IPO were 9,333,333,000
In August 1999, TELKOM issued bonus shares of 746,666,640 resulted in total shares of 10,079,999,640.
Weighted average for 1999 was 213/365 x total shares pre-distribution of bonus shares plus 152/365 x total
shares post-distribution of bonus shares.
(3) Dividends for the financial year concerned, based on the outcome of the General Meeting of Shareholders held in the
early following year.
Consolidated Balance Sheets(In Millions of Rupiah and Thousands of U.S. Dollar)
As of December 31 2001 2000 1999 1998 1997Under Indonesian GAAP Rp As restated
TOTAL NON CURRENT LIABILITIES 11,836,048 11,786,375 10,693,120 10,665,301 7,825,174TOTAL LIABILITIES 21,911,371 16,295,730 15,024,342 14,605,497 11,065,751MINORITY INTERESTS IN NET ASSETS
OF SUBSIDIARY 1,235,334 814,034 533,642 359,407 337,632EQUITY 9,323,575 14,909,176 13,015,611 11,075,276 10,201,509TOTAL LIABILITIES AND EQUITY 32,470,280 32,018,940 28,573,595 26,040,180 21,604,892
Operating Ratio (%)Net Income to Equity 45.58 20.19 18.47 10.41 11.54Net Income to Total Assets 13.09 9.40 8.41 4.43 5.45Operating Income to Total Assets 23.45 17.73 13.09 10.62 11.34
Financial Ratio (%)Current Assets to Current Liabilities (Current Ratio) 72.54 228.41 174.63 109.75 78.36Total Liabilities to Total Stockholders’ Equity 235.01 109.30 115.53 131.87 108.47Total Liabilities to Total Assets 67.48 50.89 52.60 56.09 51.22
Average Revenue per User (ARPU) 171,000 179,000 191,000 236,000 NaPost-paid (KartuHALO) 287,000 281,000 276,000 236,000 NaPre-paid (SimPATI) 111,000 103,000 102,000 Na Na
TELKOM share price at the New York Stock Exchange in 2001
TELKOM share price at the Jakarta Stock Exchange in 2001
technology is moving toward the convergence of voice,
data, and image.
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Along with the trend, Telkom is focusing its
development program on three main areas of technology
deployment: transport, access and customer premise
equipment.
In transport technology, Telkom is working out the
backbone network and sets priorities on the
development of Internet Protocol (IP) and optimizes the
nodes of Asynchronous Transfer Mode (ATM). Telkom
collaborates with Cisco-Datacraft to develop IP backbone
nodes in 68 cities throughout the country. In addition,
Telkom also collaborates with Nortel-Astel to optimize
ATM nodes in 10 sites in Java, Sumatra (Medan and
Pekanbaru), and Kalimantan.
Telkom is setting on transmission network
(High Performance Backbone) to support the
development of packet backbone by, among
others, collaborating with Pirelli-Siemens to
deploy fiber optic transmission in Sumatra
using DWDM-8λ laying between Medan and
Bandarlampung. Telkom also plans to
deploy fiber optic cable in Sulawesi and
Kalimantan islands, which is currently in the
evaluation stage of the bidders’ proposal.
Besides, Telkom is in the process to procure
Telkom-2 satellite with 24 transponders C-band
covering from India to Australia to replace Palapa-
B4 satellite, which will expire in 2004.
The settlement of cross and joint
ownerships
The settlement of cross and joint
ownership enables Telkom to hold the
majority interest in Telkomsel, the
leading cellular company in the country
with approximately 50% cellular market
share and customer base of 3.25 million
as of December 31, 2001.
Steps for the overcoming of KSO
problems
The buyout of Dayamitra constitutes an
initial step for overcoming the KSO
problems which will strengthen Telkom
in developing telecommunications
services and network including
improvement of fixed-line teledensity in
Indonesia. The step was followed by the
buyout of Pramindo and Ariawest.
InfoCom superb services have
significantly enhanced business
partnership efficiency.
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“Through utilization of Telkom sophisticatedservices, I can always maintain close relationship
with my loved-ones, even from a distance”.
personalized se
rvice
Access technology is predicted to move quickly along
with the growth of the demand for broader bandwidth
due to the fact that access network remains the basic
platform as well catalyst for the deployment of data
communication in the country. This will lead to the
movement of telecommunications platform toward the
era of data oriented. Meanwhile, wire-line access
technology is designed to provide broadband services
through xDigital Subscriber Line (XDSL) technology or
through Hybrid Fiber Coaxial (HFC) technology, while
wireless technology is directed toward CDMA-1000 1X-
based technology. In supporting the government’s
program for increasing teledensity in the country,
telecommunications network infrastructure that is
compatible with Indonesian geographic condition is
needed. Telkom plans to deploy Fixed Wireless Access
(FWA) - CDMA2000 1X technology which is flexible in
time for infrastructure deployment as well as services.
Telkom expects the government’s support to the plan
by allocating the required frequency-band as well as
numbering plan.
Data-based services are not merely supplements of the
telephone service. In fact, they have become one of the
main vehicles to meet market demand. For such reason,
Telkom has delivered VoIP services with a brand-name
of TelkomSave which is supported by the development
of IP backbone.
2001 Operating Results
For 2001, Telkom booked a consolidated net income of
Rp 4,250.11 billion and earning per share of Rp 421.64
or increased by 41.20% compared to the result of last
year earning per share of Rp 298.61. The contribution
to the growth of net income was mainly the increase in
cellular of 73.36% and interconnections revenues of
41.03%.
Consolidated operating revenues increased by 33.18%
from Rp 12,111.99 billion in 2000 to Rp 16,130.79 billion
in 2001. While the growth of consolidated operating
expenses was 32.35% from Rp 6,433.84 billion in 2000
to Rp.8,515.09 billion in 2001. The difference resulted
in 34.12% increase in operating income from Rp 5,678.15
billion in 2000 to Rp 7,615.70 billion in 2001. While
consolidated earning before tax, depreciation and
amortization (EBITDA) increased from Rp 8,097.2 billion
in 2000 to Rp 10,499.5 billion bilion in 2001.
Nevertheless, EBITDA margin in 2001 was 64.78% or
lower than 2000 figure of 66.85%.
The number of Telkomsel’s cellular subscribers
increased by 92.73% during the last one year, whereas
for fixed wirelines, there were net additional lines in
service (LIS) of 556,333 lines, 4.48% lower compared to
the additional LIS of 582,412 lines in 2000. The increase
in LIS took place in Telkom regions of 339,542 lines
and in KSO regions of 216,791 lines. As of December
31, 2001, total Telkom’s lines in service were 7,218,938
consisting of 3,949,905 lines in Telkom regions and
3,269,033 lines in KSO regions.
1997 1998 1999 2000 2001
0
5,000
15,000
20,000
25,000
30,000
35,000
10,000
Total Assets (Billion Rupiah)
1997 1998 1999 2000 2001
0
1,000
2,000
3,000
4,000
5,000
Net Income (Billion Rupiah)
1997 1998 1999 2000 2001
0
5,000
10,000
15,000
20,000
Total Operatings Revenue (Billion) Services
In line with the change of Telkom’s paradigm in
providing services to its customers, the Company has
accomplished some improvement to the quality of
service. Telkom identifies a zone-20 customers, that
comprise 20% customers contributing approximately
80% revenue for Telkom. To the zone-20 customers,
Telkom applies active management approach, among
others, by encouraging the Company’s account
managers, which are backed-up by virtual account
teams consisting of back-room staff, product owner,
partners and other related functions.
For retail customers, the Company sets up a Service
Level Guarantee (SLG) policy and differentiation of
services which are already implemented in Regional
Division-II (East Java) and Regional Division-V Jakarta.
The policy will also be gradually implemented in all KSO
Divisions (Division I, III, IV, VI dan VII) starting from the
middle of 2002. The Company also offers incentives to
encourage retail customers to utilize less-physical
contact facilities such as call center/phone in, and web
in as well as to reduce customers involvement in
reaching service centers and service points.
Independent assessment on Telkom’s GCG
As part of universal assessment to measure business
practice excellence implemented in the Company, Ernst
& Young has finalized the assessment of Telkom’s Good
Corporate Governance. The conclusion of the
assessment by the year 2001 is as follows.
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Good Corporate Governance Assessment
Assessment of GovernanceGood Needs Improvement Poor
1 2 3 41. Roles and Powers - V -2. Employee Guidelines and Code of Conduct - V -3. Board Appointments - V -4. Board Skills and Resources - V -5. Board Independence - - V6. Business and Community Consultation - V -7. Strategy Setting V - -8. Monitoring Board Performance - V -9. Management Reporting - V -10. Risk Management - V -
Telkom realizes that the results of assessment of Telkom’s
good corporate governance practice were mostly “needs
improvement”. The Company takes these initial results
as an impetus for encouraging all staff to reach the best
Other telecommunication services 1,021,279 6.33 744,040 6.14 691,869 7.37
Total Operating Revenues 16,130,789 100,00 12,111,996 100,00 9,385,720 100,00
Operating Revenues
S T E P S T O W A R D S U C C E S S
Settlement of joint and cross ownershipPursuing the Sales and Purchase Agreement (SPA) signed on April 3,2001 the Company has completed a series of transactions withPerusahaan Perseroan (Persero) PT Indonesian Satellite CorporationTbk (“Indosat”), including the acquisition of 35.0% of the issued andfully paid shares of PT Telekomunikasi Selular (“Telkomsel”) ownedby Indosat.
The parties also agreed that the company sold 22.5% of the issuedand fully paid shares of PT Satelit Palapa Indonesia (“Satelindo”) toIndosat for US$186 million, and sold 37.66% of the issued and fullypaid shares of PT.Aplikanusa Lintasarta (“Lintasarta”) for US$38million.
The agreement also stated the acquisition by Indosat of all of thecompany’s rights, and transfer or novation of all of Company’sobligations, under a joint operating agreement with PT Mitra GlobalTelekomunikasi Indonesia (“MGTI”) dated October 20, 1995, asamended (the “KSO IV Agreement”), and all contracts to which theCompany is a party and which relate to the business of the jointoperating scheme established pursuant to the KSO IV Agreement (the“KSO IV Unit”), together with all other property and assets of theCompany operated and maintained as property and assets of the KSOIV Unit created by the joint operating agreement (the “KSO IV Assets”),for a consideration of US$375 million (the “KSO IV Transaction”). ByJanuary 31, 2002 the KSO-IV transaction has been terminated sincethe terms and conditions required by the SPA could not be fulfilled.
With the completion of the transaction, Telkom holds 77.72% shareof Telkomsel - the leading cellular company in Indonesia.
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Long-term solutions for KSO
On October 20, 1995, Telkom entered into long-term
agreements on joint operation scheme (Kerjasama Operasi
“KSO”) with five KSO investors providing for the transfer
of network development and operational responsibility
in Telkom’s Regional Division I, III, IV, VI and VII to the
KSO investors for15 year period commencing the year
1996 to 2010.
Due to the monetary crisis engulfed the country in 1997
and thereafter, the Government, Telkom, and the KSO
partners came to long-term alternative solutions: (i) KSO
arrangement based on the original agreements and the
Memorandum of Understanding signed on June 5, 1998,
plus new arrangement for additional installed lines; (ii)
establish a joint venture company with TELKOM; (iii)
establish a joint venture company with Indosat; (iv) grant
licence to the KSO investors to be new operators; and (v)
early termination of the KSO agreement.
KSO-I
On February 20, 2002 Telkom and the shareholders of
(Akademi Pariwisata/”Akpar”), and 31 Kindergarten (Taman
Kanak-Kanak). These institutions are operated by involving
816 teachers and staff. As of Desember 31, 2001 the total
registered students were 7,738.
For social developments, YSPT performs various activities
such as scholarship for low-level income community,
development of multi purpose building in under-
developing areas, and other incidental social
contributions. Telkom provides some of the poverty
alleviation fund available in the budget particularly for
education.
Yayasan Pendidikan Telkom (“YPT”)
Telkom Education Foundation (YPT) engages in both
under-graduate and graduate education institution namely
School of Telecommunications Technology (Sekolah Tinggi
Teknologi Telkom/STT TELKOM) and Bandung Institute
of Management (Sekolah Tinggi Management Bandung/
STMB). YPT also has a radio broadcasting station, which
is operated by PT Lintas Kontinental (Radio K-Lite 107,2
FM). These institutions are located in the city of Bandung,
West Java.
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Telkom involves in several social activities such as education, health, andother social welfare, through foundation and partnerships.
STT Telkom
STT TELKOM provides study programs for Strata-1/S-1
(bachelor degree) as well as diploma degree. S-1 degree
provides program of Industrial Engineering, Electrical
Engineering, and Informatics Engineering; while diploma
degree provides programs of Electrical Engineering and
Informatics Engineering. During the last two years, an
average of approximately 6,500 students deliver their
admission yearly. By December 2001, 4,095 students
consisting of 3,016 S-1 students and 1,079 diploma degree
students were studying at STT TELKOM. An approximate
of 3,513 alumni of STT TELKOM are currently working in
the telecommunication industry.
STMB
STMB holds programs of S-1 degree in
Telecommunications and Informatics Management, and
Master in Business Administration. By December 2001, a
number of 422 registered students were studying at Strata-
1 degree and 315 registered students were at master
degree. As of December 31, 2001, STMB has graduated
346 masters of business/magister management.
Partnership With Small and Medium Scale
Business Community
Warung Telekomunikasi/WARTEL (Phone-kiosk)
Individuals and small businesses are eligible to provide
telecommunication services by running phone-kiosk. The
kiosks are considered as the arm-length of TELKOM
services. Such cooperation mutually benefit both parties,
Telkom as well as customers. As of December 31, 2001,
lines in service used for phone kiosks were 282,067 lines
or increased by 23.25% from 228,862 lines as of
December 31, 2000. The increase in the number of phone
kiosks have rendered benefit to individuals and small
businesses in creating revenue and unemployment
reduction.
Small and Medium Business Enterprise Center Project
As an implementation of the Summit Conference XI of 15
Governments’ Declaration in Jakarta on May 25, 2001
which has appointed Indonesia to be coordinator for the
development of Small and Medium Enterprises (SME), the
company together with Bank Rakyat Indonesia and Center
of Development of Small Medium Enterprises (CD-SMEs)
has developed information system and e-commerce
network throughout nine cities. One of the objectives is
to provide integrated services for the SMEs to access the
information, market, standardization, banking,
tecknology and management through SME Center. Telkom
has developed infrastructure and access to information
and communication as well as application of e-commerce
that enables the community to access the web-site:
www.sme-center.com
Museum (Galery) Telekomunikasi (“Mustel”)
Mustel is located in the tourism resort of Taman Mini
Indonesia Indah (TMII) Jakarta and was officially opened
on April 20, 1991. The establishment of Mustel was funded
by PT Telkom (47,14%), PT Indosat (47,14%), and PT Inti
(5,72%). As of December 31, 2001, all 21 staff of Mustel
were Telkom’s employees and remunerated by Telkom.
Other operating expenses are collectively provided by
PT Telkom (45%), PT Indosat (40%) and PT Inti (15%).
Mustel provides facilities for documentation and media
for information exchange on telecommunication
technology. The main mission is to absorb, gather, review,
and distribute information, communication, publicity and
education in relation to the story of telecommunication
in Indonesia, its development and prospects.
Through Mustel, Telkom provides the community with
education and recreation facility by presenting visual aid
as well as information on the history, the development,
and trends of telecommunication technology to visitors.
Telkom believes in the value of education for
shaping a brighter generation
<< Rahardjo Tjakraningrat,Commissioner
<< Bacelius Ruru, Chairman of the Board of Commissioners
Chairman of TELKOM since April 2000. Secretary to the Minister of state-owned enterprise(2001 to date). Chairman of the Jakarta Stock Exchange (2001 to date). Chairman of theJakarta Initiative Task Force since 2000. Chairman of PT Perkebunan IV (1999-2001).Chairman of PT Sucofindo (1998 to date). Deputy Minister of Investment and State-Owned Enterprises in charge for Supervising and Control of the Ministry and formerlyas Deputy for Mining and Agro-Industry Business in the same Ministry (1998-2000).Director General of the State-Owned Enterprise in Ministry of Finance. (1995-1998).Chairman of Capital Market Supervisory Agency in Ministry of Finance (1993-1995).Head of Legal Bureau and Public Relations of the Ministry of Finance (1987 -1993). Incharge of director/head of some directorates/institutions in Ministry of Finance (1975-1993). Graduate of Faculty of Law, University of Indonesia, Jakarta (1975). Harvard LawSchool (1981).
<< Noor Fuad,Commissioner
Commissioner of TELKOM since April 2000.Commissioner of PT Multi Eka Karma (2000 todate). President Director of PT. Multi Eka Karma(1996 to 2000). President Director ofPT Telesarana Adi Prima (1995 to 1997).Director of Finance of PT.BELTDC (1992 to1995). Director of Commercial of PT RajasaHasanah Perkasa/Era Mobitel (1986 to 1991).Graduate of Faculty of Law, University ofIndonesia (1966).
Commissioner of TELKOM since April2000. Head of Training and EducationBoard, Ministry of Finance (2001 todate). Secretary General, Ministry ofFinance (2000-2001).Commissioner ofPT Inhutani III, Ministry of Forestry(1987-1994). Commissioner ofPT Pelabuhan Indonesia I Medan (1995to1998). Senior Executive Advisor inHuman Resources to the PresidentDirector of PT Rajawali Nusindo (1997to date). Commissioner of PT PelabuhanIndonesia III Surabaya (1998 to date).Commissioner of PT PerkebunanNasional VIII Jawa Barat (1999 to date).Commissioner of PT BRI Sanwa - Finance(1999 to date). Graduate of Faculty ofEconomics, Gajah Mada University,Yogyakarta (1972). M.Sc. in PoliticalEconomics, University of Illinois (1986).
>> Purnomo Sidhi,Commissioner
Commissioner of TELKOM sinceApril 2000. Head of Training andEducation Board, Ministry ofCommunication andTransportation (2000 to date).Senior Executive Advisor to theMinister of Communication (1997to date). Indonesian Air ForceOperation Commander II (1996 to1997). Vice Commander I ofIndonesian Air Force Operation(1994 to 1996). Senior ExecutiveAdvisor to the Chief ofIndonesian Air Force (1992 to1993). Graduate of Indonesian AirForce Academy (1968). Air-FlightInstructor School (1977). Schoolof Staff and Commander ofIndonesian Air Force (1985).S.I.D.M.C., USA (1995).
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M A N A G E M E N T P R O F I L E
Commissioner of TELKOM since April2000. Director of Planning andTechnology of PT TELKOM (1996-2000),Vice President of Corporate andTechnological Planning of PT TELKOM(1995-1996), General Manager ofCorporate Planning of PT TELKOM (1993-1995).Head of the North Jakarta RegionalTelecommunication Office (1991-1993).Head of the Kebayoran Baru ServiceOffice (1990-1991). Graduate of ElectricalEngineering, Trisakti University, Jakarta(1983). Master of Science, AmericanWorld University (1998).
>> Andi Siswaka Faisal,Commissioner
<< Muhammad Nazif, President Director and CEO
>> KomarudinSastrakoesoemah,
Director of Operations &Marketing
<< Kristiono, Director ofPlanning & Technology
President Director of TELKOM since April 2000, Vice Rector, University of Indonesia(1994-2000). Executive Director Islamic Development Bank (1990-1991). Member ofDeregulation Team, Ministry of Finance (1990-1993). Member of Efficiency ImprovementTeam of State-Owned Enterprises, Ministry of Finance (1989-1991). President DirectorBank Umum Koperasi Indonesia (1985-1989). Executive Director Bank Duta Ekonomi(1972-1979). Citibank (1968). Graduate of Economics Faculty, University of Indonesia(1973). MBA, Katholieke University, Leuven, Belgium (1981).
>> Mursyid Amal,Director of Finance
Director of Finance of TELKOMsince April 2000. Chairman ofLogistic Assistance Group,TELKOM Corporate Office (1997 -2000). Logistic General ManagerTELKOM (1995-1997). LogisticGeneral Manager TELKOM, JakartaRegional Division (1992-1995).Magister Management (MM).,Bandung School of Management(1997). Graduate of EconomicsFaculty, Islamic University ofNusantara, Bandung (1986).
Director of Operations and Marketing ofTELKOM since April 2000. Head ofTELKOM’s Development Division (1997-2000). Member of Blue Print DevelopmentTeam, Directorate General Post andTelecommunications (1999). Member ofKSO Development Team (1994-1995). Chiefof Regional Division IX Kalimantan (1992-1993). Graduate of Electrical Engineering,Bandung Institute of Technology, Bandung(1976).
<< Taufik Akbar, Directorof Human ResourcesDevelopment
Director of Planning and Technology ofTELKOM since April 2000. Head of TELKOM’sRegional Division V, East Java (1995-2000).Head of TELKOM’s Project IV (1992-1995).General Manager of TELKOM’s LogisticDepartment (1990-1992). Deputy ofTelkom’s Chief Regional Division VIIIDenpasar (1989- 1990). Technical Manager,PT Telkom (1978- 1989). Graduate ofElectrical Engineering, Surabaya Institute ofTechnology, Surabaya (1978).
Director of Human ResourcesDevelopment of TELKOM sinceApril 2000. President Director ofPT Aplikanusa Lintasarta (1994-2000).Executive General Manager for PalapaSatellites Operation of TELKOM(1992-1993) . Genera l ManagerTelecommunication Planning of TELKOM(1990-1992) . Manager Sate l l i teTransmission Planning of TELKOM (1983-1989). Astronaut Training for IndonesianCandidate (Payload Specialist) NASA,Houston, Texas (1986). Graduate ofElectrical Engineering, Bandung Instituteof Technology, Bandung (1975).Telecommunications ManagementCourse, Vancouver, Canada (1991).
TELKOMCorporate
Division I Sumatra
Division II Jakarta
Division III West Java
Division IV Central
Division V East Java
Division VI Kalimantan
Division VII Eastern Part of
Indonesia
Network Division
Multimedia Division
DayamitraGraha Sarana Duta
IndonusaInfomediaTelkomsel
Telesera
Citra Sari MakmurKomselindo
Menara JakartaMetroselMobisel
Multimedia NusantaraNapsindo
Pasifik Satelit NusantaraPatrakom
BabintelBangtelindo
Ratelindo
Information System Division
Training Division
Property Division
Development Division
Repair Division
Research & Development
Division
Enterprise
Cable TV
Calling Card & Payphone
Intelligent Network
VoIP
Business to Business
International Business
Core Division Support Division Business Projects Affiliated & Subsidiary
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T E L K O M ’ S B U S I N E S S P O R T F O L I O
The following table depicts Telkom’s ownership in associated companies as of December 31, 2001:
Telkom s Company Name Ownership Business Operations
PT Citra Sari Makmur (“CSM”) 25.00 VSAT and consulting servicesPT Komunikasi Selular Indonesia (“Komselindo”) 35.00 Telecommunications (AMPS cellular)PT Menara Jakarta 20.00 Infrastructure for multimedia servicesPT Metro Selular Indonesia (“Metrosel”) 20.17 Telecommunications (AMPS cellular)PT Mobile Selular Indonesia (“Mobisel”) 25.00 Telecommunications (NMT-450 cellular)PT Multimedia Nusantara 31.00 MultimediaPT Napsindo Primatel Internasional (”Napsindo”) 32.00 Network Access PointPT Pasifik Satelit Nusantara (“PSN”) 22.57 Satellite transponder and communicationsPT Patra Telekomunikasi Indonesia (“Patrakom”) 30.00 Telecommunications (VSAT)
PT Pembangunan Telekomunikasi Indonesia(“Bangtelindo”) 3.18 Construction and consultingPT Radio Telepon Indonesia (“Ratelindo”) 12.86 Telecommunications (fixed wireless)
A S S O C I A T E D C O M P A N I E S
PT Telekomunikasi Indonesia, TbkCORPORATE OFFICEJl. Japati No. 1, Bandung 40133Tel: (022) 4521108, Fax: (022) 4521408
CORE DIVISION
Regional Division I Sumatera
Jl. Prof. H.M. Yamin, SH. No. 2, Medan 20111
Tel: (061) 4151747
Fax: (061) 4150747
Regional Division II Jakarta
Jl. Jend. Gatot Subroto Kav. 52, Jakarta 12710
Tel: (021) 5215100
Fax: (021) 5202733
Regional Division III West Java
Jl. W.R. Supratman No. 66
Bandung 40261
Tel: (022) 4523801
Fax: (022) 7206541
Regional Division IV Central Java
Jl. Pahlawan No.10, Semarang 50241
Tel: (024) 8302312
Fax: (024) 8302313, 449980
Regional Division V East Java
Jl. Ketintang No. 156, Surabaya 60231
Tel: (031) 8286000
Fax: (031) 8286080
Regional Division VI Kalimantan
Jl. M.T. Haryono No. 169, Balikpapan 76114
Tel: (0542) 873500
Fax: (0542) 873040
Regional Division VII Eastern part of Indonesia
Jl. A.P. Pettarani No.2, Makassar 90221
Tel: (0411) 330777
Fax: (0411) 869889, 330977
Network Division
Jl. Japati No. 1, 2nd Floor
Bandung 40133
Tel: (022) 4522315
Fax: (022) 4522321
SUPPORT DIVISION
Training Division
Jl. Gegerkalong Hilir No. 47
Bandung 40152
Tel: (022) 2013930, 2013238
Fax: (022) 2014429
Research and Development Division
Jl. Gegerkalong Hilir No. 47
Bandung 40152
Tel: (022) 2014403
Fax: (022) 2014669
Property Division
Jl. Cisanggarung No. 2
Bandung 40133
Tel: (022) 4521630
Fax: (022) 4521631
Repair Division
Jl. Japati No. 1, 4th Floor
Bandung 40133
Tel: (022) 7206520
Fax: (022) 4524125
Information System Division
Jl. Japati No. 1, 4th Floor
Bandung 40133
Tel: (022) 4524227
Fax: (022) 7201890
Development Division
Jl. Japati No. 1, 6th Floor
Bandung 40133
Tel: (022) 4525441
Multimedia Division
Jl. Kebon Sirih No.37, Jakarta 10340
Tel: (021) 3160500
Fax: (021) 3160300
C O N T A C T I N F O R M A T I O N
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Investor Relations Unit
Jl. Japati No. 1, 7th Floor, Bandung 40133
Tel: (62-22) 4527337 Fax: (62-22) 7104743
INDEPENDENT AUDITOS’ REPORT 40
CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2000 and 2001
and for each of the three years
in the period ended December 31, 2001
Consolidated Balance Sheets 51
Consolidated Statements of Income 53
Consolidated Statements of Changes in Equity 54
Consolidated Statements of Cash Flows 57
Notes to Consolidated Financial Statements 59
F I N A N C I A L S T A T E M E N T S
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Annual Report for the year 2001
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia, Tbk
is signed by the Board of Commissioners and Board of Directors