Regarding Telkom's Investment (TLKM) in GOTO, DPR Members: Understandable

DPR Commission VI member Harris Turino said that the investment of PT Telekomunikasi Selular (Telkomsel), a subsidiary of PT Telkom Indonesia Tbk (TLKM), in Gojek - part of PT GoTo Gojek Tokopedia Tbk (GOTO) - was a step that could understandable.

According to Harris, the corporate action of Telkom and Telkomsel is also considered good because there is a shift in the business model, in line with developments in the technology sector.

"If you see it as a good corporate action, nothing is wrong, nothing is breaking the law. That Telkom's industry continues to decline, so it has to shift its business model. From pure Telkom which relies on data and voice to data center through data center , (capacity) 75 megawatts (MW), others enter the digital business," said Harris, after the SOE Investment Committee meeting at the DPR Building, Senayan, Jakarta, Tuesday (14/6/2022).

The meeting was chaired directly by the Chairman of the BUMN Investment Committee who is also the Deputy Chairman of Commission VI of the DPR, Sarmuji. This meeting was attended by the President Director of Telkom Indonesia Ririek Adriansyah and the President Director of Telkomsel Hendri Mulya Syam.

According to Harris, Telkom and Telkomsel's investment in GoTo is a strategy that can be understood technically. From the explanations of Telkom and Telkomsel, it is also known what the purpose of the investment is, including the existence of financial reports, even though these reports are not official reports.

"From the technical presentation of the investment, we can understand what the purpose of the investment is and the loss that occurred on March 31, even though it is not an official financial report, it is only quarterly. If you look at it now, it actually makes a profit of Rp. 2.8 trillion. want to see loss or profit, it's on December 31," explained Harris.

Harris said the report would be an annual one. In addition, he said, the focus of this investment is not only on capital gains . "But also the emergence of a synergy from Telkom through Telkomsel and GOTO. Our concern is how this synergy can really be created," said the member of the PDI-P faction.

The BUMN Investment Panja, continued Harris, a Commission VI of the House of Representatives was formed to confirm various possibilities that have recently received public scrutiny. It is also waiting for further developments as well as answers to several questions asked by the Panja to Telkom and Telkomsel.

In the meeting, Telkom's President Director Ririek Adriansyah revealed that the telecommunications sector is currently facing several challenges. This challenge is based on indications of revenue growth, increased investment costs, profit margins, return on investment, and market capitalization.

To increase its contribution to the nation, Telkom Group is required to continue to increase the value and profits of the company. The strategy launched by the Telkom Group is to build a portfolio in three main digital business areas (connectivity, platforms, and digital services).

He explained that digital business development can be done by investing in digital companies and Gojek in this case is called partner . Telkom's investment in GOTO Group is driven by the strong synergy and collaboration opportunities between the two parties.

Meanwhile, President Director of Telkomsel Hendri Mulya Syam said that Telkomsel's investment process in GOTOO has followed good corporate governance, and is in accordance with applicable company regulations and regulations, including involving independent advisors in the legal and financial fields.

"Telkomsel's investment in GOTO has resulted in an increase in investment value, the adoption of digital talent, as well as collaboration and synergy initiatives that have been carried out since the end of 2020 until today have also generated added value for the two companies in serving the Indonesian people," said Hendri.