Jakarta, CNBC Indonesia – The state-owned telecommunications and technology company, PT Telkom Indonesia (Persero) Tbk (TLKM) plans to merge its separate data center business in three business entities.
After that, this combined company will open the opportunity to do partnership to options for an initial public offering (IPO) in the next 2-3 years.
Telkom Indonesia SVP Corporate Communication & Investor Relations Ahmad Reza said the data center business is an important part of Telkom’s digital ecosystem, namely as a digital platform for various other Telkom businesses, namely digital connectivity and digital services.
“Now for the plan unlocking value, be it an IPO, private equity investment, or a partnership is likely to be done in the next 2-3 years, “Ahmad told CNBC Indonesia, Monday (18/10/2021).
A source at the Ministry of SOEs said that after the three data center businesses were merged, Telkom would conduct an IPO for the new entity to attract funds from the capital market.
“Telin, Telkom Sigma, and Telkom Data Center, want to become new corporations and will have an IPO. Later, Telkomsel [PT Telekomunikasi Selular] so focus on digital companies, startups, while Mitratel [PT Dayamitra Telekomunikasi] focus on towers, and in the data center there are new companies,” said the source.
Furthermore, Ahmad explained, the company is targeted to achieve enterprise value (EV) per EBITDA (earnings before interest, tax, depreciation, and amortization) of 25x-35x.
In line with that, currently Telkom continues to increase the capacity of its data center. This step is carried out by building a hyperscale data center around Jakarta with a total capacity of 75 Megawatts (MW).
Currently, the construction of a data center phase 1 with a capacity of 25 MW is in progress.
“In the future, Telkom will also continue to explore new markets,” he said.
As is known, the data center business owned by Telkom is currently run by three of its subsidiaries, namely PT Telekomunikasi Indonesia International (Telin) which has 19 Tier II to Tier IV data centers in four countries, namely Singapore, Hong Kong, Timor Leste and Indonesia.
Next is PT Sigma Cipta Caraka or Telkomsigma which operates more than 10 Tier III and Tier IV data centers in the country.
In total, Telkom has 22 data centers consisting of 5 international data centers, 14 Neucentrix and 3 tier 3 and 4 data centers.
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