Telkom focuses on executing TLKM 30 strategy to strengthen company fundamentals
PT Telkom Indonesia (Persero) Tbk has reaffirmed its commitment to strengthening business fundamentals and corporate governance through the acceleration of its TLKM 30 transformation strategy through 2026.
This step represents a momentum for Telkom to reorganise its business portfolio, increase operational discipline, and establish a strategic holding structure to drive higher corporate value creation.
Chief Executive Officer Dian Siswarini stated in Jakarta on Wednesday that the TLKM 30 transformation is a comprehensive reform agenda designed as a medium-term strategy through 2030. The programme aims to enhance performance whilst strengthening Telkom’s competitiveness as an enabler of a world-class digital ecosystem.
“We are executing TLKM 30 to unlock greater value from the entire potential of Telkom’s business whilst strengthening the company’s contribution to the state and shareholders through increased value and dividends,” said Dian during the TelkomGroup Business Update in Jakarta.
Through this transformation, Telkom is reorganising its business portfolio in a more targeted manner whilst strengthening good corporate governance practices. These efforts include restructuring and streamlining of subsidiary companies, establishment of a strategic holding, and strengthening discipline in asset management.
This approach aligns with the government’s agenda to strengthen state-owned enterprises through the Danantara initiative, which emphasises transparency, prudence and accountability in managing state assets. Implementation includes normalisation of asset quality, more accountable expenditure, and alignment of financial records to ensure more accurate and fair corporate reporting.
In promoting operational excellence, Telkom is strengthening operational discipline, improving business processes, and optimising capital allocation for greater efficiency. The transformation is also supported by changes in corporate culture that emphasise collaboration, accountability, and a focus on performance and value creation.
Significant progress has been visible since the implementation of TLKM 30 in the middle of last year. One key development is the establishment of FiberCo through a spin-off of part of wholesale fibre connectivity business and assets to PT Telkom Infrastruktur Indonesia or InfraNexia. This entity will focus on developing fibre business whilst increasing operational efficiency and investment, and opening opportunities for network sharing and strategic partnerships.
Beyond FiberCo, Telkom is also unlocking value from other infrastructure assets, including data centre operations through NeutraDC and telecommunications tower business through PT Dayamitra Telekomunikasi Tbk.
Telkom is also conducting streamlining through comprehensive evaluation of subsidiary entities to ensure focus on core telecommunications and digital business. An initial implementation is the signing of a Conditional Sale and Purchase Agreement by PT Multimedia Nusantara towards the full divestment of PT Administrasi Medika and its subsidiary TelkoMedika, which operates as a third-party administrator in the healthcare sector.
In the new structure as a strategic holding, Telkom will focus on value creation functions and governance oversight, whilst business operations are run by operating company entities.
Going forward, TelkomGroup will strengthen its business structure through four main pillars that serve as growth engines: B2C, B2B ICT, Digital Infrastructure, and International Business. Through this structure, Telkom hopes each business line can move more focused and agile in optimising Indonesia’s digital ecosystem potential.
Dian added that the TLKM 30 transformation is also expected to deliver positive impact on the national economy through more equitable distribution of quality digital connectivity services. “With support from all stakeholders, we are driving this transformation to deliver positive impact on the economy and society through increasingly equitable and quality digital connectivity services,” she said.