TLKM - Telkomsel records a 14% growth in data traffic during year-end

TLKM - Telkomsel records a 14% growth in data traffic during year-end A mobile arm of Telekomunikasi Indonesia (TLKM), Telkomsel recorded a 14.1% growth in data traffic throughout year-end holiday season. The figure also increased from 11.8% recorded last year. Mobile gaming service jumped over 40% which was the highest compared to instant messaging and video conference s well as instant messaging service that followed by 23% and 11% increases. Meanwhile, text also escalated by 8.4% while voice service was down 2.23%. (Source: Telko.id) Comment: While a jump in data traffic especially during year-end break is not something out of ordinary, Telkomsel's data traffic grew higher than its competitor ISAT that recorded below 10% increase or slowing down yoy. We expect strong data traffic to continue in 1Q24 albeit in slower manner ahead of phase I presidential election. In overall, we maintain our bullish view on telco sector this year especially in 1Q-2Q24 in coincidence with general election and Eid holidays, with our top picks TLKM and ISAT.