TLKM - Forges partnership with Huawei

TLKM - Forges partnership with Huawei Telekomunikasi Indonesia (TLKM) has forged partnership with Huawei in order to develop data center and cloud business that are part of its 5 bold moves strategy. Through the strategy, TLKM strives to further penetrate and strengthen its position in B2B business that requires more sophisticated offerings. The partnership will enable two companies to transfer knowledge and expertise. (Source: Bisnis Indonesia) Comment: As TLKM moves to tap further into B2B segments, its necesarry for the company to constantly develop its technology through various partnerships with global telecommunication companies. Meanwhile, we expect demand for cloud service and data center will continue to grow amidst rising digitalization in corporate coupled with higher internet penetration. We maintain our BUY call with a target price of IDR4,650 per share.