Telkom Metra Acquires 51% Stake in Financial Service Firm

Director of Enterprise & Business Service Telkom Dian Rachmawan (center) with Director of Telkom Metra Otong Iip (third from right), Chairman of the Foundation Dana Swadharma (YDDS) Tri Mulyo (far left), Director of PT Tri Handayani Top (THU) Edi Siswanto (second from left), Chairman of the Cooperative Swadharma Andri Widoyono (third from left) after signing the deed of sale of shares in PT Swadharma Facility Information (SSI) in Jakarta (2/4).

JAKARTA (TheInsiderStories) – PT Telkom Indonesia Tbk (IDX: TLKM), through its subsidiary, PT Multimedia Nusantara (Metra Telkom) has officially acquired 51 per cent of PT Swadharma Sarana Informatika (SSI), a company supporting financial services.

Director of Enterprise & Business Services Telkom Dian Rachmawan say, the acquisition is in line with the vision of Metra Telkom, which is to be a leading company  and an industry-leading information, media and edutainment in the region.

After this acquisition process, the sharehoders of SSI are Telkom Metra 51 per cent, while the remaining shares are owned by Foundation board Dana Dana Swadharma (YDDS) 5 per cent, PT Tri Handayani Top (THU) 14.2 per cent and 9.8 per cent by Swadharma Cooperative.

Telkom Group continues sharpened its nails in digital payment business and financial technology (FinTech) business. Recently through its other unit has acquired a mobile payment company from Hungarian.

PT Metranet, the digital service provider arm of Telkom and Hungarian mobile payment company Cellum Global Zrt. have signed a memorandum for a strategic cooperation in Budapest on Jan. 30 by acquired a 30.4 per cent stake in Cellum in two steps.

Cellum has been expanding in Asia since 2014. The cooperation with Metranet is the next step in the company’s quest to become a key player in the region.

Last year, Telkom has announced will acquire three foreign firms as part of an effort to expand its businesses. Telkom it said dealt with FinTech and satellites, and had a total worth of Rp 10 trillion (US$729.93 million) investment to reach it.

Furthermore it said, the move is part of Telkom Indonesia’s merger and acquisition initiative, adding that it would also expand its tower business through its subsidiary, PT Dayamitra Telekomunikasi (Mitratel).

David Sutyanto, an analyst of First Asia Capital, said that Telkom had the financial capability to carry out an expansion without disrupting its finances. Last year, the company has allocated up to Rp 29 trillion of capital expenditure.

Telkom is partly state-owned, partly in private hands, and its shares are traded on the Indonesian Stock Exchange and on the New York Stock Exchange, which lists it as “TLK”. Government of Indonesia is the majority shareholder with 52.09 per cent shares while the remaining 47.91 per cent shares belong to public shareholders.

TelkomGroup currently manages six business portfolios that serve four customer segments, namely corporation, residential, individual and others.

In accordance to the development of digital technology and company transformation, Telkom introduced a new vision and mission in 2016, which are Be the King of Digital in the Regionand Lead Indonesian Digital Innovation and Globalization.

TelkomGroup is focused on its TIMES (Telecommunication, Information, Media, Edutainment & Services) digiyal portfolio with a convergent and seamless services that provides high value for the customers.

Metranet which was formed since April 17th, 2009. In its development, various business initiatives have been carried out, such as: mobile content, commerce, online ticketing, and social network game publishers.

Indonesia, as the largest economy in Southeast Asia, has maintained close to 5 per cent annual GDP growth in the past five years. It added that the Telkom group has more than 130 million customers in the country of 261 million people, half of whom are aged under 30.

US$1: Rp13,700

Email: linda.silaen@theinsiderstories.com