The Danantara Indonesia Investment Management Agency is spearheading a massive restructuring effort to streamline PT Telkom Indonesia Tbk (TLKM). The plan involves consolidating the telecommunications giant’s operational footprint by reducing its subsidiaries from 67 down to just 19 entities by the end of 2026. This initiative was confirmed following a high-level meeting at Wisma Danantara on Monday, May 25, between Dony Oskaria, Head of the BUMN Executive Body (BP) and COO of Danantara, and Seno Soemadji, Director of Strategic Business Development & Portfolio at PT Telkom Indonesia.
The meeting focused on accelerating Telkom Group’s business transformation and streamlining process. During the session, Telkom outlined a series of strategic maneuvers, including mergers, divestments, liquidations, business consolidations, and the creation of a new enterprise holding company. These measures are designed to sharpen the company’s focus on digital services and national telecommunications infrastructure, ensuring it remains competitive in an increasingly dynamic market.
Dony Oskaria emphasized that this transformation is a pivotal step in strengthening Telkom’s core business. “This transformation is essential to refine our business focus and ensure that Telkom Group becomes more agile in meeting the needs of the national digital ecosystem,” Dony stated on Friday, May 29. The ultimate goal is to evolve the company into a more focused, efficient, and globally competitive strategic digital holding entity.
Key Strategic Transformations
As part of this roadmap, Telkom is prioritizing several critical programs. These include the consolidation of state-owned FiberCo, as well as the further development of its Data Center, TowerCo, and InfraCo business units. Furthermore, the company is restructuring its licensing framework to support its evolution into a more adaptive and globally resilient strategic holding company.
This strategy aligns with the vision outlined by Telkom President Director Dian Siswarini, known as TLKM 30. This strategy focuses on strengthening fundamental business pillars, boosting operational efficiency, and unlocking the value of corporate assets. A key objective of this plan is to rebalance the company’s revenue streams, aiming for a 50-50 split between consumer (B2C) and enterprise (B2B Infra, B2B ICT, and International) sectors by 2030.
“While B2C growth is trending toward a more moderate pace due to the near-saturation of mobile penetration in Indonesia, we believe our infrastructure and ICT segments will serve as the primary drivers of future growth,” Dian noted during a recent press conference.
Preparing for the 2026 Annual General Meeting of Shareholders (AGM)
A pivotal moment for this transformation will occur at the Annual General Meeting of Shareholders (AGM) scheduled for June 8, 2026. The meeting is expected to set a new direction for the state-owned enterprise, with the massive reduction of subsidiaries serving as a key agenda item. Dony Oskaria confirmed that this action is fully aligned with the broader BUMN business streamlining mandate.
Beyond the restructuring, the AGM will cover several strategic governance matters, including:
- Approval of the 2025 Annual Report and audited consolidated financial statements.
- Granting full release and discharge (volledig acquit et de charge) to the Board of Directors and Board of Commissioners for their service during the 2025 fiscal year.
- Determination of net profit allocation for 2025, along with the remuneration package for management for 2026.
- Appointment of an independent auditor and oversight of the 2026 Micro and Small Business Funding Program (PUMK).
- Deliberations on potential stock buybacks, delegation of authority regarding the 2026–2030 Long-Term Corporate Plan (RJPP), the 2027 Budget and Work Plan (RKAP), and amendments to the company’s Articles of Association.
- An agenda item concerning changes to the company’s leadership and management composition.
Through these collective efforts, the BP BUMN and Danantara are working to ensure that Telkom becomes more agile, financially robust, and a central force in driving Indonesia’s digital economy forward.
Summary
The Danantara Indonesia Investment Management Agency is launching a major restructuring of PT Telkom Indonesia to consolidate its 67 subsidiaries into 19 entities by the end of 2026. This initiative aims to streamline operations through mergers, divestments, and the creation of a new enterprise holding company to sharpen the firm’s focus on digital services and infrastructure. By reducing complexity, the agency intends to make Telkom a more agile and globally competitive strategic digital holding entity.
This transformation supports the “TLKM 30” strategy, which seeks to balance revenue between consumer and enterprise sectors while prioritizing infrastructure units like Data Centers and FiberCo. Key details of the restructuring and governance updates, including potential leadership changes and financial planning, are slated for final review at the 2026 Annual General Meeting of Shareholders. These efforts are designed to reinforce Telkom’s role as a primary driver of Indonesia’s national digital ecosystem.
