Telkom Indonesia Needs to Strengthen its Business Fundamentals
Concerns regarding corporate governance and financial performance have resurfaced within the state-owned enterprise (SOE) sector, particularly in the telecommunications industry. In this context, PT Telkom Indonesia (Persero) Tbk (TLKM) is deemed to need to strengthen its business fundamentals and maintain transparency with stakeholders.
Several issues that have reemerged for discussion include allegations of financial report manipulation during the 2014-2021 period amounting to IDR 5 trillion, which are reportedly related to an investigation by the United States Securities and Exchange Commission (SEC). In addition, an audit by the Supreme Audit Agency (BPK) as of May 2026 is said to highlight potential investment losses for Telkomsel in PT GoTo Gojek Tokopedia Tbk (GOTO) amounting to IDR 4.7 trillion from an initial investment value of IDR 6.4 trillion.
The Director of Rumah Politik Indonesia, Fernando Emas, believes that the current management of Telkom needs to clearly differentiate between ongoing legal processes and efforts to improve company performance. He also highlighted a decrease in revenue of IDR 2.6 trillion and net profit of IDR 2.1 trillion over the past year since 2025.
“It is time for Telkom’s leadership to step away from the controversies of the past and dedicate all its energy to strengthening the company’s core business foundation. It should just focus on performance,” said Fernando, Saturday (16/5).
According to Fernando, management professionalism can be seen from its ability to maintain company performance amidst various challenges. He encouraged the Indonesian House of Representatives (DPR RI) to invite Telkom’s board of directors to a Hearing Meeting (RDP) forum to obtain an explanation regarding the company’s steps in strengthening its business fundamentals.
“The DPR should not delay any longer in summoning Telkom. The DPR must investigate the issues within Telkom. The public needs to know how far the current leadership is going in saving the company’s fundamentals,” he added.
A number of legal cases involving certain individuals have reportedly entered the law enforcement realm, including at the Corruption Eradication Commission (KPK), the National Police (Polri), and the Public Prosecutor’s Office. Amidst this process, the company is expected to remain focused on improving revenue quality, optimizing assets, and strengthening competitiveness in the technology and information sector. (Ant/Z-10)