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Danantara asks TELKOM to reduce its subsidiaries from 60 to 22 companies

Published 12 August 2025

IDN Financials

JAKARTA – PT Telkom Indonesia (Persero) Tbk (TLKM) plans to consolidate its subsidiaries with a focus on three main business lines.

This is in line with the request of the Investment Management Agency (BPI) Danantara to streamline TLKM’s structure by reducing its 60 subsidiaries to just 22.

This structural simplification is expected to make TLKM more agile amidst the intense competition in the telecommunications industry. TLKM itself is targeting completion of the streamlining process by the end of 2027.

Telkom’s Director of Finance and Risk Management, Angelo Syailendra, explained that TLKM’s 60 subsidiaries currently consist of 49 companies with direct controlling interest and the remainder with non-controlling interest.

Angelo explained that TLKM holds a majority ownership of six companies, but not a controlling interest, and five companies with minority ownership, also a non-controlling interest.

“For example, it turns out we own a 6% stake in Pefindo Credit Bureau, and there are five other companies with similar status,” he said in Jakarta on Monday (August 11).

In line with this, the newly appointed President Director of Telkom, Dian Siswarini, stated that she is evaluating all subsidiaries and subsidiaries to measure their contribution to the company’s performance.

Companies that do not add value will be closed or merged, including the possibility of merging with subsidiaries of other state-owned enterprises.

“For this streamlining, Mr. Seno (Telkom’s Director of Strategic Portfolio) will lead the review so that Telkom can be leaner, more agile, and more profitable,” she said during a hearing with Commission VI of the House of Representatives (DPR) on Wednesday (July 2).

Currently, TLKM has 12 directly owned subsidiaries, including:

PT Sigma Cipta Caraka (Telkomsigma)
PT Telkom Satelit Indonesia (Telkomsat)
PT Telekomunikasi Indonesia Internasional
PT Infrastruktur Telekomunikasi Indonesia (TelkomInfra)
PT Multimedia Nusantara (TelkomMetra)
PT Telkom Data Ekosistem (NeutraDC)
PT Dayamitra Telekomunikasi Tbk (MTEL)
PT Telekomunikasi Selular (Telkomsel)
PT Telkom Akses
PT Graha Sarana Duta (Telkom Property)

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