TLKM - Facilitates startup seed funding

Through its subsidiary MDI Capital Ventures will continue to facilitate partnership of home-grown start-ups with seed funding from foreign investors. The program will be focused on “soonicorn” or start-up companies whose value nearing USD1bn or IDR15.6 tn. MDI Capital Ventures has been committed to start-up mainstreaming under the program called Indi. The company also has allocated a USD830mn in funds for start-up investing. (Source: Investor Daily) Comment: In our view TLKM's investment in start-up is part of its strategic plan to expand its digital ecosystem company. The digital economy disruptions have been happening for years, thus it is important for TLKM to keep up, while catering the opportunities. We also view that start-up investment could be diversification in the future when legacy business for example has been fading away.