Danantara: Telkom to Liquidate 12–14 Subsidiaries, No Employee Layoffs

The Head of the Daya Anagata Nusantara Investment Management Agency (Danantara) and Chief Operating Officer, Dony Oskaria, stated that PT Telkom Indonesia (Persero) Tbk (TLKM) will proceed with the closure of 12 to 14 of its subsidiaries. Speaking after a working meeting with Commission VI of the Indonesian House of Representatives (DPR RI) in Jakarta on Monday, Dony emphasised that these closures will not result in any redundancies, as employees will be consolidated into other Telkom subsidiaries.

“For instance, in sectors like fibre optics, companies will be merged. This will make the entities larger while retaining the existing workforce,” Dony explained. This restructuring is part of a broader effort by the State-Owned Enterprise Agency (BP BUMN) and Danantara to accelerate the streamlining of the Telkom Group, reducing its total subsidiaries from 67 to 19 entities by the end of 2026 to strengthen its position as a national strategic digital holding company.

During the Annual General Meeting of Shareholders (RUPST), Telkom shareholders also approved the replacement of two members of the Board of Commissioners to strengthen leadership during this digital transformation. Telkom’s President Director, Dian Siswarini, noted that these decisions reflect the company’s commitment to enhancing performance and creating value. Furthermore, the company approved a cash dividend distribution of Rp 21.9 trillion for the 2025 fiscal year and authorised a share buyback programme of up to Rp 4 trillion.

Priority programmes being accelerated include the consolidation of the SOE FibreCo, the development of data centres, TowerCo, and InfraCo, alongside the restructuring of Telkom Group licences. These moves are designed to support a transformation towards a more adaptive and globally competitive strategic digital holding, ensuring that state-owned enterprises remain agile and serve as drivers of Indonesia’s digital economy.