Telkom's Investment in GoTo: Business or Political Problem?

By Editorial Team 23/05/2022
Ilustrasi GoTo
Summary

  • Telkom, an Indonesian state-owned telecommunication enterprise, suffers from an unrealized loss of Rp 881 billion in the first quarter of 2022 from its investment in GoTo.
  • Many criticize the deal by highlighting the fact that GoTo's president commissioner Garibaldi 'Boy' Thohir is the older brother of State-Owned Enterprises Minister Erick Thohir.
  • Telkom's loss is estimated to be even greater as GoTo's stock price has plunged by up to 40 percent since going public on the Indonesia Stock Exchange.

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