Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

What they do

The company provides fixed-line, broadband, mobile, data, internet, and pay-TV services in Indonesia, with international operations in Australia, Malaysia, Singapore, Hong Kong, and the United States through Telekomunikasi Indonesia International (Telin). Subsidiaries span network infrastructure, data centers, satellite, towers, fintech, and digital media, including PT Telkomsel, PT Telkom Infrastruktur Indonesia, PT Sigma Cipta Caraka, and PT Finnet. It is domiciled in Jakarta, Indonesia, with shares listed in Indonesia and the United States.

Revenue drivers

• Mobile and fixed connectivity — Core revenue comes from cellular and fixed-line voice, SMS, data, and internet services sold to consumer and enterprise customers, primarily through Telkomsel and Telkom's fixed broadband networks. These are the group's largest recurring revenue streams.
• Digital infrastructure and wholesale — Revenue is generated from tower leasing, data centers, satellite, backbone, and network access services via subsidiaries such as Telkom Infra and Telkom Satelit Indonesia, sold to other carriers and enterprises.
• IT and digital services — Subsidiaries such as Sigma Cipta Caraka, Finnet, and Nutech Integrasi sell application development, managed IT, digital payments, and system integration services to enterprise and government customers.
• Telin international business — Telekomunikasi Indonesia International (Telin) and its subsidiaries in Australia, Malaysia, Singapore, Hong Kong, and the United States provide international voice, data, and connectivity services, contributing a smaller but reported share of group revenue.

Recent performance

The source extract is limited to XBRL identifier tags and dates from the 20-F filed on 2026-05-15 for fiscal year 2025, and does not include reported revenue, profit, or subscriber figures. No specific results can be cited from the provided excerpts. The entity has 94,000,000,000 shares referenced in the filing header. The filing also shows dates for a restructuring spin-off transaction effective 2026-01-01 and share transactions dated 2026-01-06.

Strategy

The filing data indicates a corporate restructuring spin-off transaction effective January 1, 2026, and related loan facilities with banks including Bank Negara Indonesia, Bank DBS Indonesia, and Bank Central Asia. The company continues to operate a broad portfolio of subsidiaries across infrastructure, digital services, and international operations, consistent with an integrated telecommunications and digital infrastructure strategy. No specific management guidance or investment amounts are available in the provided excerpts.

Risks

• Tax audit exposure — The filing references contingent liabilities for corporate income tax assessments for years 2014, 2015, 2018, 2019, 2020, 2021, and 2023, plus withholding tax assessments for 2015 and 2023.
• Investment valuation uncertainty — Non-listed equity investments in technology are valued using liquidity, market movement, guideline public company, and backsolve methods, indicating valuation uncertainty.
• Equipment losses — The company reports lost and broken equipment in each of 2023, 2024, and 2025, indicating ongoing operating asset impairment risk.
• Credit exposure to counterparties — The filing discloses receivables and related-party exposure to Finarya and Omni Inovasi Indonesia, which carry counterparty credit risk.

Outlook

The filing confirms a restructuring spin-off transaction effective January 1, 2026, and no forward financial guidance is included in the available excerpts. Management's priorities cannot be characterized beyond the operational and corporate actions disclosed. No specific targets for revenue, subscribers, or capital spending are available from the source material.