JAKARTA – PT Telkom Indonesia (Persero) Tbk (TLKM) channelled out a shareholder loan of IDR 397 billion to PT Telkom Satelit Indonesia (Telkomsat). This facility is categorised as an affiliated transaction, signed last week (18/3).
Heri Supriadi, Director of Financial and Risk Management of Telkom Indonesia, said that this facility would be utilised in business expansion of Telkomsel in the satellite telecommunication system and its supporting infrastructures. “Telkomsat is TLKM’s subsidiary with 99.99% ownership. The transaction does not contain any conflict of interests, as referred to the Financial Services Authority Regulations (POJK) No.42/2020,” he explained in the information disclosure.
The amount of the said shareholder loan is below 20% of TLKM’s equity, which reportedly reached IDR 118.81 trillion by the end of September 2021. Edi Witjara, Director of Enterprise and Business Service of TLKM, also took the position of the President Commissioner of Telkomsat.
Telkomsat was established in 1995, with its commercial operation starting in 1996. As of September 2021, the company recorded total assets of IDR 5.02 trillion. This subsidiary also received a credit facility from HSBC worth IDR 1 trillion on June 22, 2021. So far, the facility still carries the unused amount of IDR 251 billion by the end of September 2021. (LK/ZH)