##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 Form 20-F
 o
    
    REGISTRATION STATEMENT
PURSUANT TO SECTION 12(b) OR (g) OF THESECURITIES EXCHANGE ACT OF 1934ORþ
    
    ANNUAL REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the fiscal year ended December 31, 2008o
    
    TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934ORo
    
    SHELL COMPANY REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934
 Date of event requiring this shell company report
 Commission file number 1-14406
 
 Perusahaan Perseroan (Persero)
Telekomunikasi Indonesia Tbk.
  Telecommunications Indonesia
 (a state-owned public limited liability company)
  
 
 Jalan Japati, 1
Bandung 40133
Indonesia
(62) (22) 452-1510
(62) (21) 521-5109*
 
  Title of
    
    Name of each exchangeEach class
    
    on which registeredAmerican Depositary Shares representing Series B Shares, par value 250 Rupiah per share
    
    New York Stock ExchangeSeries B Shares, par value 250 Rupiah per share
    
    New York Stock Exchange**
    Series A Dwiwarna Share, par value 250 Rupiah per share
    
    
    1Series B Shares, par value 250 Rupiah per share
    
    
    19,669,424,779
 þ o
 o þ
 þ o
 o o
  Large
accelerated filer þ
    
    Accelerated filer o
    
    Non-accelerated filer o
 o þ
 o þ
 
 *
    
    Investor Relations Unit, Graha Citra Caraka, JI. Gatot Subroto, No. 52, 5th Floor, Jakarta
12570.**
    
    The Series B Shares were registered in connection with the registration of the American
Depositary Shares. The Series B Shares are not listed for trading on the New York Stock
Exchange.




---



##### 



TABLE OF CONTENTS
 PART IITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERSITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLEITEM 3. KEY INFORMATIONITEM 4. INFORMATION ON THE COMPANYITEM 4A. UNRESOLVED STAFF COMMENTSITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTSITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEESITEM 7. MAJOR STOCKHOLDERS AND RELATED PARTY TRANSACTIONSITEM 8. FINANCIAL INFORMATIONITEM 9. THE OFFER AND LISTINGITEM 10. ADDITIONAL INFORMATIONITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIESPART IIITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIESITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDSITEM 15. CONTROLS AND PROCEDURESITEM 16. RESERVEDITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERTITEM 16B. CODE OF ETHICSITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICESITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEESITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERSITEM 16F. CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANTITEM 16G. CORPORATE GOVERNANCEPART IIIITEM 17. FINANCIAL STATEMENTSITEM 18. FINANCIAL STATEMENTSITEM 19. EXHIBITSSIGNATURESEX-1.1 Amended Articles of Association of TELKOM dated July 15, 2008.EX-4.1 Shares Sale and Purchase Agreement between Trozenin Management Plc (Malaysia), PT Sigma Citra Harmoni and PT Multimedia Nusantara dated as of December 18, 2007.EX-4.2 Amendment to Shares Sale and Purchase Agreement between Trozenin Management Plc (Malaysia), PT Sigma Citra Harmoni and PT Multimedia Nusantara dated as of February 21, 2008.EX-4.3 Supply Contract for the Procurement and Installation of the Batam Singapore Cable System between TELKOM and NEC Corporation dated as of March 3, 2008.EX-4.4 Procurement and Installation of JaKa2LaDeMa Capacity Ring between TELKOM and NSW-Fujitsu Consortium dated as of December 30, 2008.EX-12.1 Certification Pursuant to Section 302, The Sarbanes-Oxley Act of 2002.EX-12.2 Certification Pursuant to Section 302, The Sarbanes-Oxley Act of 2002.EX-13.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to SEction 906 of the Sarbanes-Oxley Act of 2002.EX-13.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.




---



##### Table of Contents



This annual report on Form 20-F incorporates by reference certain information contained in the
Annual Report of PT Telekomunikasi Indonesia Tbk. (the Company or TELKOM) for the financial year ended December 31, 2008, dated May 11, 2009 (2008 Annual
Report) furnished on Form 6-K dated May 11, 2009 (Report on Form 6-K). The information that is
incorporated herein by reference is set forth below. Information from the 2008 Annual Report
furnished in the Report on Form 6-K not referenced below is not incorporated by reference herein.
 
 PART I
 
 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
  
 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
  
 ITEM 3. KEY INFORMATION
 A. Selected Financial Data
  B. Capitalization and Indebtedness
  C. Reason for the Offer and Use of Proceeds
  D. Risk Factors
  
 ITEM 4. INFORMATION ON THE COMPANY
 A. History and Development of the Company
  B. Business Overview
  C. Organizational Structure
  D. Property, Plant and Equipment
  
 ITEM 4A. UNRESOLVED STAFF COMMENTS
  
 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS
 A. Operating Results
  B. Liquidity and Capital Resources
  C. Research and Development, Patents and Licenses, etc.
  D. Trend Information
  E. Off-Balance Sheet Arrangements
  1




---



##### Table of Contents



F. Tabular Disclosure of Contractual Obligations
  
 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
 A. Directors and Senior Management
  B. Compensation
  C. Board Practices
  D. Employees
  E. Share Ownership
  
 ITEM 7. MAJOR STOCKHOLDERS AND RELATED PARTY TRANSACTIONS
 A. Major Shareholders
  B. Related Party Transactions
  C. Interest of Experts and Counsel
  
 ITEM 8. FINANCIAL INFORMATION
 A. Consolidated statements and other financial information
  B. Significant changes
  
 ITEM 9. THE OFFER AND LISTING
 A. Offer and listing details
  B. Plan of distribution
  C. Markets
  D. Selling Stockholders
  E. Dilution
  2




---



##### Table of Contents



F. Expenses of the issue
  
 ITEM 10. ADDITIONAL INFORMATION
 A. Share capital
  B. Memorandum and Articles of Association
  C. Material Contracts
  D. Exchange Controls
  E. Taxation
  F. Dividends and Paying Agents
  G. Statement by Experts
  H. Documents on Display
  I. Subsidiary Information
  
 ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
 A. Disclosure About Market Risk
  
 ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
  
 PART II
 
 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES
  
 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS
  
 ITEM 15. CONTROLS AND PROCEDURES
  
 ITEM 16. RESERVED
 
 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT
  3




---



##### Table of Contents



ITEM 16B. CODE OF ETHICS
  
 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES
  
 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES
  
 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS
  
 ITEM
16F. CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANT
  
 ITEM
16G. CORPORATE GOVERNANCE
  
 PART III
 
 ITEM 17. FINANCIAL STATEMENTS
  
 ITEM 18. FINANCIAL STATEMENTS
  
 ITEM 19. EXHIBITS
  1.1
    
    Memorandum and Articles of Association of TELKOM, as amended on July 15, 2008.4.1
    
    Shares Sale and Purchase Agreement between Trozenin Management Plc (Malaysia), PT Sigma Citra
Harmoni and PT Multimedia Nusantara dated as of December 18, 2007.4.2
    
    Amendment to Shares Sale and Purchase Agreement between Trozenin Management Plc (Malaysia),
PT Sigma Citra Harmoni and PT Multimedia Nusantara dated as of February 21, 2008.4.3
    
    Supply Contract for the Procurement and Installation of the Batam Singapore Cable System
between TELKOM and NEC Corporation dated as of March 3, 2008.4.4
    
    Procurement and Installation of the JaKa2LaDeMa Capacity Ring
between TELKOM and NSW-Fujitsu
Consortium dated as of December 30, 2008.8.1
    
    List of Subsidiaries of TELKOM (incorporated herein by reference to TELKOMs
Annual Report on Form 20-F filed on June 23, 2006).12.1
    
    Certification of the Chief Executive
Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934.12.2
    
    Certification of the Chief Financial Officer
pursuant to Rule 13a-14(a) of the Securities Exchange act of 1934.13.1
    
    Certification of the Chief Executive Officer pursuant to Rule 13a-14(b) of the
Securities Exchange Act of 1934 and 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.13.2
    
    Certification of the Chief Financial Officer pursuant to
Rule 13a-14(b) of the Securities Exchange Act of 1934 and
 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002.
 4




---



##### Table of Contents



SIGNATURES
  PERUSAHAAN PERSEROAN (PERSERO) P.T.
TELEKOMUNIKASI INDONESIA Tbk.By:
    /s/ Rinaldi FirmansyahRinaldi FirmansyahPresident Director  5