IDX Monitors Telkom Regarding Developments in US Regulator Investigation

The Indonesia Stock Exchange (IDX) has stated that it is monitoring PT Telkom Indonesia Tbk (TLKM) in connection with an investigation being conducted by US regulators. “The exchange has carried out a series of monitoring and supervisory actions through a hearing with the company on 8 April 2026, and has submitted several requests for clarification regarding the case experienced by the company as well as coordinated with OJK,” said IDX’s Director of Company Assessment, I Gede Nyoman Yetna, in Jakarta on Monday. As of now, the company has submitted information disclosures and responses to the exchange’s requests for clarification on 5 May 2026. In its explanation, Telkom stated that it has established a Legal & Compliance Directorate as well as a Chief Integrity Officer (CIO) to strengthen legal functions, compliance, governance, business process integrity, and internal oversight. The company also explained that the Securities and Exchange Commission (SEC) investigation began in October 2023 related to the BAKTI Kominfo project, which later expanded to include accounting issues. “Since May 2024, the DOJ (Department of Justice) has also requested information related to the Foreign Corrupt Practices Act (FCPA),” said Nyoman, quoting the company’s written response. According to the company, as a firm with shares listed in New York, Telkom is subject to US capital market provisions, including FCPA rules. In addition, the company stated that the clawback policy has been effectively in place since 30 May 2023 and it has not yet received official notification regarding a class action lawsuit. The company also confirmed that the evaluation of drop cable and last mile assets has been completed, resulting in a conclusion in the form of an accounting policy change that will be applied retrospectively to the 2025 fiscal year report. Regarding the submission of the annual report, Nyoman continued, the company has submitted a Notification of Late Filing to the SEC on 30 April 2026 and requires additional time to submit the 2025 Form 20-F. Nyoman said that currently, IDX has also submitted further requests for clarification based on the latest response and is still awaiting the company’s answer. “Moving forward, the exchange will continue to monitor the company’s case and take necessary supervisory actions. In addition, we also urge the public to always pay attention to every information disclosure submitted by the company regarding company developments,” he explained.