Telkom Indonesia, the state-owned telecommunications giant, has enlisted Goldman Sachs and Mandiri Sekuritas to assist in finding a strategic investor for its data center business. According to Ahmad Reza, Telkom’s Senior Vice President of Corporate Communication and Investor Relations, Goldman Sachs will act as the global financial advisor while Mandiri Sekuritas will serve as the lead advisor for this initiative.
Reza expressed the company’s expectation that this strategic move will enhance the value for all stakeholders involved with Telkom. Although he did not disclose specific financial details, Reuters previously reported in February that a minority stake sale in Telkom’s data center unit, NeutraDC, could be valued at over $1 billion.
The surge in artificial intelligence is driving significant investment in digital infrastructure across Asia, with billions of dollars flowing into data centers. In June, a notable consortium consisting of U.S. investment firm KKR and Singapore Telecommunications announced a substantial investment of S$1.75 billion (approximately $1.3 billion) in ST Telemedia Global Data Centres, marking one of the largest investments in the region’s data center sector.
NeutraDC, which is the data center brand under PT Telkom Data Ekosistem—a subsidiary of Telkom—boasts a robust portfolio. According to its website, NeutraDC operates 29 data centers, including five global data centers and three enterprise data centers within Indonesia. Additionally, it manages a hyperscale data center in Jakarta and is in the process of constructing two more, with one located in Batam. NeutraDC’s infrastructure also includes 19 edge data centers spread across various Indonesian cities and several global data centers in Singapore.
As Indonesia’s leading telecommunications group, Telkom Indonesia holds a market capitalization exceeding $17 billion as of the latest data.
