DPR Chooses to Discuss Telkomsel's Investment in GoTo Through Panja, this is the reason
6/16/2022
The House Commission VI Working Committee (Panja) regarding BUMN Investment in Digital Companies was finally held yesterday, Tuesday (14/6/2022), behind closed doors.
Member of Commission VI DPR Gerindra Faction Andre Rosiade said the Panja wanted to hear directly the explanation from the directors of PT Telkom investment Telkomsel in PT Goto Gojek Tokopedia Tbk ( GOTO ).
As for this summons, this is the first time, so it will take time, at least until August to resolve this issue.
In the future, Andre said, the BUMN Investment Committee will summon experts to obtain comprehensive results.
"Earlier, the President Director of Telkom and Telkomsel have explained. God willing, the investment is in accordance with applicable procedures," he said, at the DPR building, Tuesday.
According to Andre, the issue of Telkom's investment in GoTo is sufficiently discussed through the Panja, because the investment in technology companies is carried out by Telkomsel, which is a subsidiary of PT Telkom.
"Because this is not a state-owned company, but a subsidiary company, Panja is enough. If the Special Committee is afraid of politicization, the Panja can be monitored in-depth evaluation," said Andre.
Through this Panja, Andre added, the DPR also wants to know whether Telkomsel's investment in GoTo has gone through the good corporate governance (GCG) process or not.
Therefore, his party invited the President Director of Telkom and Telkomsel to explain how the investment process in GoTo has been since 2020 until now.
In addition, through the Panja, the DPR wants to further explore the potential benefits of investment made by Telkomsel.
"We want to know whether Telkom and Telkomsel when investing in GoTo consider the applicable laws, the Criminal Code, and internal regulations," added Andre.
Meanwhile, Telkom President Director Ririek Adriansyah explained that investment in GoTo, or previously PT Application Karya Anak Bangsa (Gojek), was in accordance with Good Corporate Governance (GCG).
"We have explained about the expansion in GoTo, which we believe the process has complied with various applicable GCG principles," said Ririek.
Ririek further emphasized that Telkom's investment process in GoTo has gone through various processes and initiations carried out by the team.
Ririek explained that the initial idea for this investment was started by Telkomsel, which had been approved by other shareholders, such as Singtel.
"Singtel also initiated this, moreover they are more experienced and independent, then they go through various processes that are in accordance with the rules. We ensure that this process does not involve the Commissioner of Telkom let alone the Ministry of State-Owned Enterprises (BUMN)," said Ririek.
Assuming the closing price of GoTo's shares today is at the level of Rp. 400 per share, Telkomsel's investment value has reached around Rp. 9.48 trillion.
Telkomsel itself holds as much as 23.7 billion with an initial investment of Rp. 6.4 trillion or equivalent to Rp. 270 per share.
