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326 Telkom Annual Report 2009 Notes to the annual financial statements (continued) for the three years ended March 31, 2009 37. RELATED PARTIES Details of material transactions and balances with related parties not disclosed separately in the annual financial statements were as follows: 2007 2008 2009 Rm Rm Rm With joint venture: Vodacom Group (Proprietary) Limited Related party balances Trade receivables 122 99 121 Dividend receivable 1,450 1,595 1,100 Trade payables (706) (691) (650) Related party transactions Revenue (1,510) (1,632) (1,781) Expenses 2,974 3,050 3,066 Dividend received (2,700) (2,970) (2,600) Audit fees 6 5 4 Revenue includes interconnect fees and lease and installation of transmission lines. Expenses mostly represent interconnect expenses. With shareholders: Public Investment Corporation There were no material transactions between the Company and the Public Investment Corporation. Government Related party balances Trade receivables 271 326 386 Related party transactions Revenue (2,458) (2,623) (2,767) With subsidiaries: Trudon Proprietary Limited (formerly trading as TDS Directory Operations (Proprietary) Limited) Related party balances Trade receivables 6 7 10 Trade payables (100) (151) (141) Dividend receivable 84 – – Related party transactions Revenue (57) (59) (62) Expenses 12 20 15 Dividend received (149) (120) (47)
Notes to the annual financial statements (continued) for the three years ended March 31, 2009 37. RELATED PARTIES (continued) With subsidiaries: (continued) Swiftnet (Proprietary) Limited Related party balances Telkom Annual Report 2009 327 2007 2008 2009 Rm Rm Rm Trade receivables – – 1 Trade payables (14) (12) (15) Loan from subsidiary – – 10 Related party transactions Revenue (16) (18) (17) Expenses – – 1 Income includes data calls and billing fees. Rossal No 65 (Proprietary) Limited Related party balances Accruals and other payables (148) – (342) Loan to subsidiary – 30 – The loan is unsecured, interest-free and has no fixed repayment terms. The loan has been subordinated in favour of other creditors. Related party transactions Dividend paid 110 115 59 Dividend received (56) (290) (29) Acajou Investments (Proprietary) Limited Related party balances (Accruals and other payables)/receivables (98) – 285 Related party transactions Dividend paid 98 119 72 Dividend received (100) (217) (71) Intekom (Proprietary) Limited Related party balances Accruals and other payables (5) (13) (23) Related party transactions Expenses 7 8 10 Q-Trunk (Proprietary) Limited Related party balances Loan to subsidiary 30 26 22 Impairment of loan (30) (26) (22) The loan is unsecured, interest-free and has no fixed repayment terms. The loan has been subordinated in favour of other creditors. Related party transactions Expenses 6 6 6
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We are... one of Africa’s largest
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Telkom shareholding as at March 31,
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Grow profitable revenue through wir
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600 500 400 300 200 100 0 07 08 09
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The telecommunications industry Con
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egulation that stipulated standard
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a - Euros a - Euros a - Euros 0.25
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ated management team with experienc
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The regulatory environment The regu
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On target for 2010 Telkom Annual Re
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Online impairments, the fixed-line
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• Remodelling - reaching for new
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in this annual report has been upda
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Capital expenditure for the Group i
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More than100 years of combined tele
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Management team Telkom Annual Repor
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Telkom Annual Report 2009 33 Age at
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uild a partnership with communities
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Customers: Through our Customer Cen
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• Interfacing with the media Whil
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Partnering with Human Resources Gro
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The members’ resignations and app
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Share dealings In line with JSE Lis
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NYSE rules Telkom practice Telkom A
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the codes of conduct and ethics tha
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Telkom Annual Report 2009 51 Enterp
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provider, we practice a risk manage
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egulate the business of dealers in
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addressing a number of significant
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There was a major Over the past dec
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payment policy that facilitates the
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Headcount movement Compensation and
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• Accelerated development of wome
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14,500 union members participated i
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were admitted to the university in
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ole in exposing students to the rea
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Sick leave indices • We saved R2
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These will be augmented by another
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Some of the key deliverables are:
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Fittingly, the initiative was launc
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Sponsorships Sponsorships continue
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Item Comment and reference Governan
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espond to competitive challenges Pe
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Operational review History and deve
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service. All costs including instal
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Traffic was adversely affected in b
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Telkom’s focus on bringing new in
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esponse of the CDMA operators to ou
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MWEB Africa On April 21, 2009, we a
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VPN model that allows other service
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services and also to support Telkom
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Telkom’s fixed-line voice busines
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Results of operations The Telkom Gr
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EBITDA can be reconciled to operati
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Telkom Annual Report 2009 109 Finan
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Fixed-line operating revenue increa
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The following table sets forth info
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Interconnection revenue Year ended
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Telkom Annual Report 2009 117 Fixed
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Fixed-line payments to other networ
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Service fees increased in the year
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Vodacom’s operating revenue from
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our fixed-line business, which were
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Vodacom’s selling, general and ad
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The increase in other operating rev
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commercial paper bills, as well as
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The following table sets forth our
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challeng Consolidated financial sta
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138 Telkom Annual Report 2009
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140 Telkom Annual Report 2009 Direc
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142 Telkom Annual Report 2009 Conso
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144 Telkom Annual Report 2009 Conso
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146 Telkom Annual Report 2009 Notes
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