Telkomsat Acquires 36% of TSGN Shares

  • January 28, 2021
Jakarta - At Telkom Landmark Tower, PT Telkom Satelit Indonesia (Telkomsat) and PT Telekomunikasi Indonesia International (Telin) signed a Sale and Purchase Agreement (SPA) which marked the agreement between the two parties to sell Telin's shares in TS Global Network Sdn. Bhd (TSGN) to Telkomsat. The SPA signing process was carried out by the CEO of Telkomsat, Endi Fitri Herlianto and the CEO of Telin, Sukardi Silalahi, on Tuesday 26 January 2021.

Also present witnessed the signing was the Director of Finance & Administration Telkomsat, Rizal Ahmad Fauzi and the Chief Finance and Business Partner Officer of Telin, Doni Andriansyah, as well as VP Strategic Investment Digital Telco PT Telkom Indonesia, Tbk (Telkom), Yusuf Wibisono who was present via video conference to comply health protocol.

This activity also signifies Telkomsat's majority ownership of TSGN so that it can exercise full control, and together with Telin will strengthen TSGN's business performance. Through this agreement, the percentage of share ownership in TSGN will be Telkomsat at 36%, Telin at 34%, and other shareholders from Malaysia by 30%.

CEO of Telkomsat, Endi Fitri Herlianto, expressed his appreciation for the ownership of TSGN together with Telin, which has a strong network and experience in international business. "TSGN is one of the leading satellite companies in Malaysia, and we are optimistic that we can grow together in the future." He said.

The consolidation of TSGN to Telkomsat is the right thing to do and is in line with the strategy of the Telkom Group, because Telkomsat was chosen as the sole entity that runs the satellite business, and is expected to accelerate Telkomsat to become the top 3 largest satellite company in Asia.

TSGN is the leading satellite based company in Malaysia which is growing globally, currently TSGN has corporate customers from various industries such as plantation, mining, government and banking, with wide reach in Southeast Asian countries.

This agreement marks another major achievement for Telkomsat this year and is in line with Telkomsat's Vision to become the leading regional satellite service provider. This synergy will also support the realization of Beyond Connectivity by TelkomGroup which is believed to provide benefits for the progress of the Indonesian nation and safeguard the Company's future business prospects.