Jakarta, July 16, 2012-PT. Telekomunikasi Indonesia, Tbk (Telkom) will enhance transparency as part of the Good Corporate Governance (GCG) program. “As a company listed at Indonesia’s Stock Exchange (BEI) and New York Stock Exchange (NYSE), Telkom is always trying to comply with the GCG principles such as transparency and accountability, said Head of Corporate Communication and Affair Telkom, Slamet Riyadi, on Monday (16/07/2012) in Jakarta.

Slamet Riyadi added, Telkom’s position as a state-owned body (BUMN) which also a public company has made it an object of inspection from many institutions like BEI, NYSE and also Financial Inspecting Body (BPK) besides internal inspection made by Telkom and BUMN State Ministry. “Transparency and accountability will then motivate much innovation in Telkom’s service segments,” said Slamet Riyadi.

Every year, Telkom submits financial statement to BEI, NYSE and the Government and gains proper brand name, meaning in each policy involving financial issues, Telkom has passed the defined procedures.

“Listing at NYSE has given a benefit for the stakeholders like enhance credibility and reputation of Indonesian companies, and Telkom’s presence at NYSE has improved the company transparency in its financial statement submission,” he further explained.

“Our success in managing an fulfilling tight reporting requirement and our commitment to the company and financial transparency have had an effect on significantly minimizing market risk and cost of capital of the company,” said Slamet Riyadi.

Apply IFRS

Telkom, as a BUMN listed at a local exchange (BEI) and international exchange (NYSE ), has fully adopted an International Financial Reporting Standards (IFRS) as a standard in preparing financial statement from January 1^st , 2011. IFRS adoption is in line with the BUMN State Minsitry instruction.

Telkom is a BUMN in Indonesia which has implemented the IFRS for Financial Statement of the Book Year 2011.
The application of international financial reporting standards (IFRS) to the Financial Accounting Statement (PSAK) of Telkom will give a benefit in creating efficiency of financial statement preparation. “The full adopted IFRS has been a management decision from March 2009. IFRS is not only adopted by Telkom but also by all members of Telkom or TelkomGroup,” Slamet Riyadi added.

IFRS has a basis of strong professional appraisal principle with clear and transparent disclosure about transaction, explanation up to conclusion and accountancy related to the transaction.

For further information, please contact:

Agina Siti Fatimah
Vice President Public and Marketing Communication
PT. Telekomunikasi Indonesia, Tbk
Tel. 62-22-4527455.
Fax. 62-22-4521411
Email: corporate_comm[at]telkom.co.id
Website : www.telkom.co.id