PT Telekomunikasi Indonesia Tbk plans to upsize bonds sale to IDR3 trillion from IDR2 trillion.
PT Pemeringkat Efek Indonesia (Pefindo) assigned idAAA ratings for Telkom and the Company’s proposed Bond II/2010 amounting to a maximum of IDR3 trillion due 2015 which will be used for capital expenditure. The outlook of the ratings is stable.
The ratings reflect strong demand for telecommunication services in Indonesia, the Company’s superior business position supported by diversified businesses in the telecommunication industry, and very strong financial profile.
The ratings are, however, constrained by the company’s declining subscribers and voice revenue in the fixed wireline business as well as intense competition within the wireless sector. As to date, the company’s business portfolio has embarked to cover not only telecommunications but also information, media, and edutainment.
As the largest telecommunication and network service provider in Indonesia, Telkom's customer base is very well diversified with 105.1 million subscribers in total for a wide range of services including fixed wireline and fixed wireless telephone, mobile cellular through its 65%-owned subsidiary PT Telekomunikasi Selular (TLKS), data and internet, interconnection, network, and others.
The company’s shares are listed in three stock exchanges in Jakarta, New York, and London and are publicly offered without listing in Tokyo Stock Exchange. As to date, the Government of Indonesia (GOI) still owns the majority ownership of 52.47%, followed by the public (38.44%) and The Bank of New York Melon Corporation (9.09%).
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