Telkom Sells 100% Stake in AdMedika to Singapore's Fullerton
PT Telkom Indonesia Tbk (TLKM) has officially divested its 100% stake, comprising 452,330 shares, in PT Administrasi Medika (AdMedika) to the Singaporean healthcare company, Global Assistance & Healthcare Singapore Pte Ltd, also known as Fullerton. This transaction is a key component of Telkom’s business transformation strategy, which aims to accelerate the streamlining of its business portfolio from 67 entities to 19 entities by the end of 2026.
The divestment of AdMedika was executed on 2 June 2026, involving the simultaneous sale of all shares held by two Telkom Group entities: PT Multimedia Nusantara (TelkomMetra), a subsidiary of Telkom, and PT Metra Digital Investama Ventura (MDI), an affiliate of the Telkom Group. All released shares were transferred to Fullerton.
Telkom’s Senior Vice President of Corporate Secretary, Jati Widagently, emphasised that the disposal of TelkomMetra’s shares in AdMedika will not have a material impact on Telkom’s overall operations, legal standing, financial condition, or business continuity. “This non-organic business development action provides benefits to the Telkom Group,” Jati stated in a disclosure to the Indonesia Stock Exchange (IDX).
Jati explained that Telkom continues to accelerate its business transformation by reorganising its business portfolio and strengthening its focus on core businesses. This step supports the formation of a strategic holding company and maximises the value derived from the AdMedika divestment. Telkom’s transformation is directed towards four main pillars: Digital Infrastructure, Integrated B2C Services, B2B ICT Services, and International Business.
The divestment also aligns with the directives of PT Danantara Asset Management (Persero) regarding the restructuring and simplification of State-Owned Enterprise (SOE) subsidiaries. The Danantara Indonesia Investment Management Agency is pushing for the reduction of Telkom Indonesia’s subsidiaries from 67 to 19 entities by late 2026 to build a leaner, more focused, and competitive business structure.
Key strategic steps being implemented as part of this streamlining process include mergers of entities with similar functions, divestments of non-core assets, liquidations of irrelevant entities, business consolidation to increase efficiency, and the formation of a new enterprise holding structure. Dony Oskaria, COO of Danantara, noted that this transformation is vital for ensuring the Telkom Group remains agile in responding to the needs of the national digital ecosystem.