TLKM - Eyes to earmark 22% of revenue for 2024 capex

TLKM - Eyes to earmark 22% of revenue for 2024 capex Telekomunikasi Indonesia (TLKM) is eyeing to spend a 22% of its revenue for capital expenditure. This includes mobile service, fixed broadband and other telco business as it attempts to expand B2B business. (Source: Kontan) Comment: The company's capital spending is in-line with its historical capex plans c. 20% of revenue. We are of the view that TLKM's plan to penetrate B2B business as a venue to stabilize its top-line performance that is weighed by its legacy service. TLKM also aims to enlarge its B2B offerings to tap into SME business which is part of its transformation strategy of 5 bold moves.