0001001807-26-000024
SEC filingPT Telekomunikasi Indonesia Tbk provided a detailed response to the Indonesia Stock Exchange regarding ongoing SEC/DOJ investigations and concluded that prior accounting issues are policy changes, not errors.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk responded to a formal request for clarification from the Indonesia Stock Exchange (IDX) regarding recent disclosures. The filing details the history of ongoing investigations by the U.S. SEC and DOJ, initiated in October 2023 and May 2024 respectively, which focus on revenue recognition, internal controls, and FCPA compliance related to a 4G BTS infrastructure project. While the investigations continue, the company noted an indefinite pause on FCPA enforcement aspects following a U.S. executive order.
A significant revision in the company's stance involves the reclassification of accounting issues regarding 'drop cable assets' and 'last mile to the customers.' Previously described as accounting errors requiring restatement, the company now classifies these as changes in accounting policy following consultation with external advisors and the Audit Committee. This conclusion necessitates retrospective application in the upcoming 2025 Form 20-F and the revision of comparative figures for 2023 and 2024. Consequently, the company filed a Form 12b-25 on April 30, 2026, delaying the filing of its annual report to accommodate these adjustments. Additionally, the company outlined structural governance enhancements, including the establishment of a Legal & Compliance Directorate and the appointment of a Chief Integrity Officer to strengthen internal controls and compliance frameworks.