Business Context and Reporting Period
This Form 6-K filing by Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (PT Telkom) reports the results of the Annual General Meeting of Shareholders (AGM) held on July 30, 2004. The filing, dated August 3, 2004, covers resolutions regarding the financial year 2003, including the ratification of annual accounts, dividend distribution, and corporate governance changes.
Key Financial Metrics
- Net Profit (FY 2003): Rp 6,087,227,430,686 (Total amount appropriated).
- Dividend Payout: 50% of net profit, totaling Rp 3,043,613,715,343.
- Dividend Per Share: Rp 301.946 (based on the pre-split nominal value of Rp 500).
- Reserve Allocation: 2% of net profit (Rp 121,744,548,614) allocated to statutory reserves.
- Development Fund: 48% of net profit (Rp 2,921,869,166,729) retained to support company development.
- Auditor: Siddharta, Siddharta & Widjaja (Member of KPMG International).
Material Changes and Corporate Actions
- Share Split: The nominal value of Series A Dwiwarna and Series B shares was split from Rp 500 to Rp 250 per share.
- Share Count Increase: Total authorized shares increased from 40 billion to 80 billion. Outstanding shares increased from approximately 10.08 billion to 20.16 billion.
- Share Structure: One Series A Dwiwarna share held by the Government was split into one Series A Dwiwarna share and one Series B share, both held by the Government.
- Articles of Association: Amendments were approved to multiple articles (including Articles 1, 4, 10, 11, 12, 14, and 17) to reflect corporate changes.
Guidance, Outlook, and Management Commentary
- Dividend Payment Schedule: Public shareholders will receive dividends in one installment on September 7, 2004. The Government's portion payment schedule is to be determined by the Board of Directors.
- Record Date: Shareholders registered on the Register List of Shareholders by August 26, 2004, at 16:00 WIB are eligible for the dividend.
- Management Remuneration:
- President Commissioner salary for 2004: Rp 36,000,000,000 net per month.
- Commissioner salary for 2004: Rp 32,400,000 per month.
- 2003 Tantiem (performance bonus) for President Commissioner: Rp 338,234,456 (after 35% tax).
- 2003 Tantiem for Commissioner: Rp 304,411,010 (after 35% tax).
- Auditor Re-appointment: Siddharta, Siddharta & Widjaja was re-appointed for the 2004 financial year.
Investor Verification Checklist
- Verify the adjusted dividend per share post-split (original Rp 301.946 on Rp 500 nominal implies a proportional adjustment on the new Rp 250 nominal).
- Confirm the exact payment date for the Government's dividend portion, as it is not fixed in this filing.
- Review the specific text of the amended Articles of Association to understand governance implications.
- Check the official Register List of Shareholders status as of August 26, 2004, to confirm dividend eligibility.