Business Context and Reporting Period
This Form 6-K filing by Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TELKOM) covers the period ending March 31, 2004. The report primarily addresses a delay in filing the audited consolidated financial statements for the fiscal year ended December 31, 2003, and provides non-financial operational data for 2002 and 2003.
Key Financial Metrics
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity for the 2003 fiscal year, as the audited financial statements were not yet filed. The document focuses exclusively on operational subscriber and line metrics.
Material Changes Versus Prior Period
Operational data indicates significant growth in both fixed-line and mobile segments between fiscal years 2002 and 2003:
- Fixed Line: Total lines in service grew 9.4% to 8,476,968. Subscriber count increased 12.6% to 8,274,973. Notably, LIS Fixed Wire-less lines surged 2,980.0% to 262,640.
- Mobile (Telkomsel): Total customer base expanded 59.5% to 9,588,807. The simPATI subscriber base grew 68.7% to 8,581,773, while kartuHALO subscribers increased 9.1% to 1,007,034.
- Net Additions: Total mobile net additions rose 29.7% to 3,578,035.
Guidance, Outlook, and Risks
Audit Delay and Timeline: TELKOM will not meet the March 31, 2004 deadline for filing 2003 financial statements. The delay is attributed to the necessity of finalizing the 2002 re-audit before commencing the 2003 audit. The 2002 re-audit was finalized on February 9, 2004.
Outlook: The company expects the 2003 audit to be finalized by the end of May 2004 or, at the latest, early June 2004. KAP Siddharta, Siddharta & Widjaja (a KPMG member firm) was selected as the auditor for 2003.
Risks: The filing includes forward-looking statements regarding the audit timeline, which involve risks and uncertainties. There is no guarantee that the audit will be completed by the expected dates.
Investor Verification Checklist
- Verify the final filing date of the 2003 audited financial statements against the projected May/June 2004 timeline.
- Review the details of the 2002 re-audit to understand the specific issues that caused the delay in the 2003 audit commencement.
- Confirm the appointment of KAP Siddharta, Siddharta & Widjaja as the independent auditor for the 2003 fiscal year.
- Monitor subsequent filings for the actual revenue and profit figures once the 2003 audit is complete.