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20260311_TLKM_Laporan Informasi dan Fakta Material_32053203_lamp2.pdf
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 1/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk
(Exact name of Registrant as specified in its charter)
Telecommunications Indonesia
(A state-owned public limited liability Company)
(Translation of registrant’s name into English)
Jl. Japati No. 1 Bandung 40133, Indonesia
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes No
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes No
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 2/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
Non-Reliance on Previously Issued Financial Statements and Related Audit Report – Accounting Policies for Property and Equipment
2024 and 2023 Financial Statements
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (the “Company”) concluded, in discussion with the Audit Committee (the “Audit
Committee”) of the Company, that the Company’s annual consolidated financial statements as of and for the periods ended December 31, 2024 and
2023 (the “Affected Financial Statements”), and the associated reports of the Company’s independent registered public accounting firm, KAP
Purwantono, Sungkoro & Surja (a member firm of Ernst & Young Global Limited), as well as the relevant portions of any communication which
describe or are based on the Affected Financial Statements, should no longer be relied upon. The Company plans to restate, as soon as practicable, the
Affected Financial Statements.
The Company has been reviewing its accounting practices and procedures with respect to the policy of capitalization, classification, estimating the
useful lives, and depreciation and derecognition of its property and equipment, particularly for telecommunication infrastructures. The process of
estimating the useful lives of telecommunication infrastructures is complex and requires significant judgment because the determination of the
estimated useful lives considers a number of factors, including strategic business plans, expected future technological developments, expected
customer life and benchmarking with peer industry practice. Pursuant to the ongoing review, management concluded the asset classification of “last
mile to the customers” should have been considered non-network assets and therefore depreciated over a shorter useful life than what was used for the
Affected Financial Statements. In addition, management concluded that certain drop cable assets with no future economic benefit should be fully
depreciated and that certain replacement assets for quality enhancements should be derecognized and that such derecognition be applied consistently.
The Company’s evaluation of these accounting errors and the required adjustments to the Affected Financial Statements is ongoing and has not been
finalized. Once management completes the restatement of the Affected Financial Statements, the required adjustments are expected to reduce profit
before income tax for the years ended December 31, 2024 and 2023, respectively, and to reduce the balance of property and equipment as of
December 31, 2024 and 2023, respectively. Although the required adjustments will not impact the Company’s cash flows, the Company has concluded
that these accounting errors will have a material impact on the Affected Financial Statements and, as a result, a restatement is required and the
Affected Financial Statements should no longer be relied upon. The Company cannot provide assurance that other material errors will not be
identified.
ICFR
The Company’s management had previously concluded that the Company’s disclosure controls and procedures and internal control over financial
reporting (“ICFR”) were effective as of December 31, 2024 and December 31, 2023. In light of the matters described above regarding the Company’s
accounting practices and procedures with respect to the policy of capitalization, classification, estimating the useful lives, and depreciation and
derecognition of its property and equipment, the Company’s management has concluded that a material weakness exists in the Company’s ICFR. The
Company’s remediation plan with respect to such material weakness will be described in more detail in the Company’s Annual Report on Form 20-F
for the year ended December 31, 2025.
Internal Investigation on Legacy Matters
Background
In addition, as previously disclosed in the 2024 Form 20-F issued on April 28, 2025 (the “2024 20-F”), the Securities and Exchange Commission
(“SEC”) is investigating various issues, including accounting and disclosures issues relating to the Company’s revenue recognition, financial reporting
practices, and ICFR. The Department of Justice (“DOJ”) is also investigating these issues. The Company retained outside counsel and a forensic
accounting firm to assist with its internal investigation (the “Internal Investigation”) into the issues being investigated by the SEC and DOJ. The
Internal Investigation is substantially complete while the SEC and DOJ’s investigations remain ongoing and the Company continues to cooperate with
the U.S. authorities.
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 3/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
The Company has also cooperated with government authorities in Indonesia, including but not limited to the Indonesian National Police, Public
Prosecution Service and Corruption Eradication Commission, and has in certain instances self-reported to them various matters involving alleged or
potential violations of Indonesian laws and regulations by its business units and subsidiaries and affiliates, including anti-corruption, alleged fraud,
embezzlement and issues associated with trade receivables, some of which are related to the above-described matters investigated by the SEC and the
DOJ.
Results of the Company’s Internal Investigation to Date
The Internal Investigation focused on the review of approximately USD $324 million of revenues, spread across approximately 140 transactions
originating from 2014 through 2021, and primarily in 2016 through 2019, impacting historical trade receivables and revenues, to determine whether
goods and services associated with these transactions were delivered or otherwise recorded in accordance with International Financial Reporting
Standards (“IFRS”) and whether such transactions were consistent with Telkom’s policies, procedures, and ICFR. The Company’s internal audit team
also has completed investigations for certain of these transactions and the related conclusions have been considered as part of the Internal
Investigation.
As previously disclosed in the 2024 Form 20-F, the Internal Investigation had determined that certain transactions lacked economic substance. Certain
transactions were entered into by former management of the Company or its subsidiaries from 2021 and prior, and primarily in 2016 through 2019,
and relate primarily to the enterprise business segment, in circumvention of IFRS and the Company’s policies and its ICFR, to manage reported
earnings. Other members of former management, including those who were in place during later periods, failed to take corrective action when these
transactions were identified as improper or potentially improper. For any such transactions, (i) revenue and trade receivables should not have been
recognized, and (ii) any future allowance for expected credit losses and bad debt expense related to these trade receivables would have been
unnecessary.
Based on the results of the Internal Investigation to date, the Company believes that substantially all of the approximately 140 transactions lacked
economic substance, resulting in an overstatement of certain financial information. The Company does not believe that this overstatement of revenues
constituted a misstatement that was quantitatively material to the Company’s consolidated financial statements for any period presented in the
Company’s prior annual or interim financial statements. The Company believes that these transactions resulted in an overstatement of revenues, gross
trade receivables, and net trade receivables, at least as follows1:
Amounts in the tables are expressed in billions of Rupiah (“IDR”) and millions of US Dollars (“USD”).
All Amounts are Unaudited.
2014 2015 2016 2017
IDR 31 IDR 10 IDR 291 IDR 2,285
Revenues
USD 3 USD 1 USD 22 USD 171
IDR 23 IDR 22 IDR 288 IDR 1,687
Gross Trade Receivables1
USD 2 USD 2 USD 21 USD 124
IDR 23 IDR 22 IDR 256 IDR 1,376
Net Trade Receivables2
USD 2 USD 2 USD 19 USD 102
1 The vast majority of the gross trade receivables related to these transactions were offset by a full corresponding income statement provision and
related allowance for expected credit losses by December 31, 2020.
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 4/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
2018 2019 2020 2021
IDR 721 IDR 368 IDR 58 IDR 378
Revenues
USD 51 USD 26 USD 4 USD 26
IDR 1,972 IDR 1,999 IDR 2,018 IDR 2,154
Gross Trade Receivables1
USD 136 USD 144 USD 143 USD 151
IDR 1,558 IDR 980 IDR 94 IDR 72
Net Trade Receivables2
USD 108 USD 71 USD 7 USD 5
20223 20233 20243
IDR 247 IDR 11 IDR 39
Revenues
USD 17 USD 1 USD 2
IDR 2,152 IDR 2,094 IDR 1,927
Gross Trade Receivables1
USD 138 USD 136 USD 119
IDR 63 IDR 63 IDR 30
Net Trade Receivables2
USD 4 USD 4 USD 2
Note: Amounts in US Dollars (“USD”) are converted from Indonesian Rupiah (“IDR”) using the Jakarta Interbank Spot Dollar Rate (“JISDOR”) published by
Bank Indonesia. Revenues are converted at the average exchange rate for each year and gross trade receivables and net trade receivables are converted
using the December 31st exchange rate for each year.
1 Gross trade receivables are as of December 31st of the indicated year. The section “Financial Statement Note 6 in the 2024 Form 20-F” below describes
certain reclassifications made in the 2024 Form 20-F related to gross trade receivables and corresponding allowances for expected credit losses as of
December 31, 2023.
2 Net trade receivables represent gross trade receivables less the related allowance for expected credit losses and are as of December 31st of the indicated
year.
3 Revenues in 2022, 2023, and 2024 primarily represent cash receipts from transactions initiated in years earlier than 2022 that were accounted for on a
cash basis, and are not related to transactions initiated in 2022, 2023, or 2024.
The Company has encountered challenges compiling detailed historical information for a significant portion of the 140 transactions due to the age of
the transactions, accounting system challenges, and challenges related to the retention and retrieval of historical accounting support that in some cases
dates back nearly 10 years. The Company has assumed that certain transactions lacked economic substance unless accounting and other supporting
information was available to demonstrate otherwise. Because of these challenges there is a risk that the number and amount of legacy transactions that
lacked economic substance could be higher than the Company has been able to determine through the Internal Investigation.
By December 31, 2020, the vast majority of the trade receivables associated with these transactions had a full corresponding income statement
provision and related allowance for expected credit losses, and therefore the net trade receivable for these transactions reflected on the Company’s
Statement of Financial Positions from 2020 onward were de minimis. Accordingly, based on information to date, these historical transactions do not
require any corrections to the Statements of Financial Position as of December 31, 2023, and 2024, or the Statements of Profit or Loss and Other
Comprehensive Income for the years ended 2022, 2023, and 2024, as presented in the Company’s 2024 Form 20-F filing.
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 5/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
Financial Statement Note 6 in the 2024 Form 20-F
In conjunction with the Internal Investigation and the preparation of the 2024 Form 20-F, the Company determined that 1,945 billion IDR
(approximately $121 million USD) of gross trade receivables and a corresponding 1,945 billion IDR allowance (approximately $121 million USD) for
expected credit losses related to historical transactions that had been reviewed or slated for review in the Internal Investigation, should be reclassified
to other non-current assets as of December 31, 2023. The Company determined that these trade receivables did not have a reasonable chance of
recovery and therefore should not be included as trade receivables in the 2024 Form 20-F.
As the reclassified gross receivable and related allowance for expected credit loss net to zero, the reclassification of these amounts had zero impact on
the net trade receivables and other non-current assets as of December 31, 2023, and therefore the Company’s Consolidated Statement of Financial
Position as of December 31, 2023, and December 31, 2024, was not impacted. The reclassification did, however, impact certain tabular information
included in Note 6 to the 2024 Form 20-F related to the amount of gross receivables over six months old and in total, and the corresponding amount of
allowance for expected credit losses over six months old and in total as of December 31, 2023, that had previously been disclosed in Note 6 to the
2023 Form 20-F.
The tables below present the trade receivables information included in Note 6 in the 2023 and 2024 Form 20-Fs, and the related differences due to
these reclassifications. Amounts in the tables are expressed in billions of Rupiah.
a. By debtor
(i) Related Parties
Per FY 2024 20-F Per FY 2023 20-F
2023 2023 Difference
State-owned enterprises 1,875 1,914 (39)
Indosat 303 303 –
Government agencies 587 587 –
PT Indonusa Telemedia (“Indonusa”) 386 386 –
Others (each below Rp100 billion) 443 443 –
Total 3,594 3,633 (39)
Allowance for expected credit losses (1,237) (1,276) 39
Net 2,357 2,357 –
(ii) Third Parties
Individual and business subscribers 11,093 12,999 (1,906)
Overseas international carriers 1,541 1,541 –
Total 12,634 14,540 (1,906)
Allowance for expected credit losses (4,324) (6,230) 1,906
Net 8,310 8,310 –
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 6/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
b. By age
Per FY 2024 20-F Per FY 2023 20-F Difference
2023 2023 2023
Allowance for Expected Allowance for Expected Allowance for Expected
expected Credit Loss expected Credit Loss expected Credit Loss
Gross credit losses Rate Gross credit losses Rate Gross credit losses Rate
Not past due 7,020 386 5.5% 7,020 386 5.5% – – –
Past due up to 3 months 2,758 369 13.4% 2,758 369 13.4% – – –
Past due more than 3 to 6
months 1,215 313 25.8% 1,215 313 25.8% – – –
Past due more than 6 months 5,235 4,493 85.8% 7,180 6,438 89.7% (1,945) (1,945) -3.9%
Total 16,228 5,561 18,173 7,506 (1,945) (1,945)
c. By currency
Per FY 2024 20-F Per FY 2023 20-F Difference
2023 2023
Rupiah 13,701 15,646 (1,945)
U.S. Dollar 2,360 2,360 –
Singapore Dollar 143 143 –
Others (each below Rp100 billion) 24 24 –
Total 16,228 18,173 (1,945)
Allowance for expected credit losses (5,561) (7,506) 1,945
Net 10,667 10,667 -
d. Movements in the allowance for expected credit losses
Per FY 2024 20-F Per FY 2023 20-F
2023 2023 Difference
Beginning balance 5,623 7,568 (1,945)
Allowance for expected credit losses 513 513 –
Receivables Written-off (575) (575) –
Ending Balance 5,561 7,506 (1,945)
Remediation Efforts Related to the Internal Investigation
In conjunction with the Internal Investigation, the Company, through current management, have been actively engaged in efforts to improve its
policies, procedures, and ICFR. Examples include: (i) disciplinary action against employees involved in transactions described in the above section,
“Results of the Company’s Internal Investigation to Date”; (ii) hiring additional qualified accounting, finance and legal personnel to provide additional
capacity and expertise to enhance the Company’s accounting and reporting review procedures; (iii) engaging consultants to provide additional
technical accounting expertise; and (iv) streamlining and delayering of the Company’s organizational structure to improve oversight of its accounting
and controlling function. During the fiscal year ended December 31, 2025, the Company created new positions, Directorate of Legal & Compliance
and the new Chief Integrity Officer, to oversee and strengthen the Company’s corporate governance policies and help carry out its compliance
responsibilities.
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 7/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
Discussion with the Company’s Independent Registered Public Accounting Firm
The Company’s management and the Audit Committee have discussed the matters disclosed in this Form 6-K with the Company’s independent
registered public accounting firm. The Company’s independent registered public accounting firm has not completed its audit and/or review of the
statements made in this Form 6-K and is therefore not in a position to agree or disagree with the statements herein.
Cautionary Note Regarding Forward-Looking Statements
This Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such statements include, but are not limited to, statements regarding the Company’s expectations with regard to any restated or
adjusted items in the Affected Financial Statements, and the impacts thereof; the Company’s expectations with regard to any other adjusted items, and
the impacts thereof; the anticipated timing of the filing of the Annual Report on Form 20-F for the year ended December 31, 2025; the effectiveness of
the Company’s disclosure controls and procedures and ICFR; the Company’s expectations as to the outcome of the Internal Investigation and its
impact on the financial statements and the Company’s improvements to its policies, procedures, and ICFR; any assumptions underlying any of the
foregoing. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,”
and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of which are outside the control of the Company, that could cause actual results or
outcomes to differ materially from those discussed in the forward-looking statements, including, among others: the risk that the Audit Committee
discovers additional information relevant to the Internal Investigation and financial statements; the possibility that additional errors may be identified;
the risk that the impact of the adjustments is incorrect; the implementation of the remediation plan for the material weakness identified in the
Company’s ICFR; uncertainty relating to the pending conclusion of the Company’s independent registered public accounting firm; the potential for
delisting, legal proceedings or additional government investigations or enforcement actions relating to the matters described herein or inability to
finalize financial results in a timely manner; and other risks detailed in the Company’s Annual Report on Form 20-F for the fiscal year ended
December 31, 2024, originally filed with the SEC on April 28, 2025 and as thereafter amended, and in other documents that it files or furnishes with
the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned
not to rely on these forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation to update
information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
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Company: PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK Tue Mar 10 2026 17:37 Page: 8/8
Document: TLK 6K Disclosure 2026/20260310-Non Reliance and Investigation/20260310-Non Reliance and Investigation (v0.2)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk
By: /s/ Jati Widagdo
----------------------------------------------------
(Signature)
Date: March 10, 2026 Jati Widagdo
SVP Corporate Secretary
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