Telkom Advances Fundamental Strengthening and Corporate Governance
Telkom’s TLKM 30 transformation initiative represents a comprehensive reform agenda designed to continuously strengthen business fundamentals. The year 2026 marks a crucial execution phase for Telkom in demonstrating the implementation of this strategy, which encompasses business portfolio restructuring, strengthening good corporate governance (GCG), subsidiary restructuring and streamlining, and the establishment of a strategic holding structure to drive operational excellence and unlock value from TelkomGroup assets.
Dian Siswarini, Chief Executive Officer of PT Telkom Indonesia (Persero) Tbk, stated that TLKM 30 is designed as a medium-term transformation strategy through 2030 to enhance performance and Telkom’s competitiveness as an enabler of a globally competitive digital ecosystem.
“Through this initiative, Telkom is reorganising its business portfolio in a more targeted manner and strengthening corporate governance practices so that each business line can develop optimally and create sustainable added value for the company and all stakeholders,” Dian explained in an official statement on Tuesday, 10 March 2026.
The TLKM 30 transformation aligns with the total governance reset agenda for state-owned enterprise management promoted by the Danantara mission, emphasising strengthened transparent and disciplined governance practices in asset management. These efforts include asset normalisation and quality improvements, accountable spending practices, and financial recording alignment to ensure more accurate and fair company reports.
In implementation, Telkom is promoting operational excellence improvements through strengthened discipline, business process improvements, and more efficient capital allocation management. This is supported by corporate culture transformation emphasising collaboration, accountability, and orientation towards performance and value creation. These steps accelerate resource management efficiency, solidifying Telkom’s business fundamentals amid global uncertainty challenges and the need for digital infrastructure independence.
As a company with dual listing on the Indonesia Stock Exchange (IDX) and New York Stock Exchange (NYSE), Telkom continually ensures compliance with regulations applicable in both Indonesia and the United States. Several transformation progress indicators have emerged since TLKM 30 implementation commenced in mid-2025.
One significant development is the establishment of FiberCo through spin-off of wholesale fibre connectivity business and assets to PT Telkom Infrastruktur Indonesia (TIF) or InfraNexia, as the initial step in unlocking value from digital infrastructure business. InfraNexia will focus on developing fibre business whilst improving operational efficiency and investment, and opening network sharing and strategic partnership opportunities to create added value for all stakeholders.
Looking forward, this entity is expected to become a new growth engine for TelkomGroup. Beyond FiberCo, Telkom is also preparing strategic steps to unlock potential value from other infrastructure assets, including data centre and tower businesses through NeutraDC and Mitratel. As part of the transformation effort, Telkom is implementing streamlining through business entity portfolio restructuring within TelkomGroup.
The company is conducting comprehensive evaluation of various subsidiaries to ensure focus on core business in telecommunications and digital sectors, whilst creating a leaner and more efficient organisational structure. The initial implementation of this streamlining effort is the signing of a Conditional Sale and Purchase Agreement (CSPA) by PT Multimedia Nusantara (TelkomMetra) towards full divestment of PT Administrasi Medika (AdMedika) and its subsidiary TelkoMedika, which operates in health sector third-party administrator services, as a form of non-core business portfolio restructuring within TelkomGroup.
Simultaneously, Telkom is strengthening its role as a strategic holding. In this model, Telkom focuses on value creation and governance oversight functions, whilst business operations are run by operating company entities serving as primary drivers in each business line.
Dian further explained that TelkomGroup will strengthen its business structure through operating companies focused on four main pillars serving as future growth engines: B2C, B2B ICT, Digital Infrastructure, and International Business. Through this structure, Telkom seeks to ensure each business line has sharper focus whilst being able to move more agilely in optimising Indonesia’s digital ecosystem potential.
“We are implementing TLKM 30 to unlock greater value from all of Telkom’s business potential whilst strengthening the company’s contribution to the nation and shareholders through increased value and dividends. Simultaneously, with collaborative support from all stakeholders, we are driving this transformation to deliver positive impact for the economy and society through increasingly equitable and quality digital connectivity services,” Dian concluded.