Telkom 2005 SEC filing

Debbie

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Hi all,

Telkom has filed their latest 20-F form with the United States' Securities and Exchange Commission (SEC). This is a big-ass document that Telkom has to submit every year. It is basically about how Telkom has performed as a company over the past financial year.

Financial results are reported in detail, as are other aspects about Telkom's operations. You can find information such as the number of minutes consumers spent on local calls, the number of lines in operation, etc as well as aspects relating to the financial management of the company. The sources of revenue are, obviously, set out in detail.

The document should contain some 'consumer' gems hidden deep in the masses of information - such as how they have tried to screw the consumer to give investors more money. Last year's filing had some pretty heartless and cold statements on how HIV/AIDs is expected to affect their future operations. There were also some interesting statement made last year about how Telkom pushed their voicemail product.

Anyway, take a look at it and see what gems you can find! It is available at: http://www.sec.gov/Archives/edgar/data/1214299/000120561305000126/telmain_comb.pdf

You can also access it in html format from www.sec.gov. Scratch around and you'lll find it.

Debbie2
 
Poor Telkom directors

Debbie2 said:
Hi all,

The document should contain some 'consumer' gems hidden deep in the masses of information - such as how they have tried to screw the consumer to give investors more money. Last year's filing had some pretty heartless and cold statements on how HIV/AIDs is expected to affect their future operations. There were also some interesting statement made last year about how Telkom pushed their voicemail product.

Anyway, take a look at it and see what gems you can find! It is available at: http://www.sec.gov/Archives/edgar/data/1214299/000120561305000126/telmain_comb.pdf

You can also access it in html format from www.sec.gov. Scratch around and you'lll find it.

Debbie2

Nice increase the telkom directors awarded themselves for 2005 (almost 100%). On page 406 you will find the directors renumeration. An increase from R27.3 million in 2004 to R52.8 million in 2005.

Not bad for a years "work" at a monopoly!
 
If anyone ever doubted the existence or needed an example of 'The Gravy Train',,, just point them in Telkom's direction.
 
AdLo said:
Anyone know who those 5 directors are?
If you look on page pg164/5 of the doccy you will see their names.
Although the government can only appoint 5, with their influence in the PIC and Elephant corp, Im pretty sure they dictate what goes in Telkom.
 
I find it amazing that they say that they have an operating loss and then go on to hand out huge dividends and bonuses.

Wouldn't it be more normal to ensure that the company's solvent and then jand out dividends and bonuses?
 
bekdik said:
I find it amazing that they say that they have an operating loss and then go on to hand out huge dividends and bonuses.

Wouldn't it be more normal to ensure that the company's solvent and then jand out dividends and bonuses?
Not if one is a greedy f*** then its par for the course.
 
bekdik said:
I find it amazing that they say that they have an operating loss and then go on to hand out huge dividends and bonuses.

Wouldn't it be more normal to ensure that the company's solvent and then jand out dividends and bonuses?

Companies do this for tax breaks. I am not sure, but Mweb does it AFAIK. It is business practice as long as you sacrifice profits for capital expenditure... In short, put loads of money into hardware and lines for instance, which will translate into massive income in future...


Anybody out there who can comment on this?
 
antowan said:
Companies do this for tax breaks. I am not sure, but Mweb does it AFAIK. It is business practice as long as you sacrifice profits for capital expenditure... In short, put loads of money into hardware and lines for instance, which will translate into massive income in future...


Anybody out there who can comment on this?

That I could understand, but the money has gone out as dividends and bonuses, not capital expenditure.
 
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