DPR Asks Telkom, Telkomsel Bosses about GoTo Investment

TEMPO.CO, Jakarta - The working committee of the DPR's Commission VI summoned the president directors of Telkom and Telkomsel on Tuesday, June 14. The telecom bosses will be asked about their purchase of GoTo Gojek Tokopedia (IDX: GOTO) shares.

"Commission VI will explore related partners who are of public concern and attention," Commission VI member from the Democratic Faction, Herman Khaeron, said on Tuesday, June 14.

The meeting started at 10:00 in the morning. As of the time of this publication, there was no information about whether it will be a closed meeting or open to the public.

Telkomsel's corporate act to buy GoTo shares came under the spotlight after its parent company, Telkom, reported an unrealized loss of Rp881 billion—raising questions from many parties. Telkomsel's role as GoTo's financier in the IPO is considered prone to conflicts of interest, as GoTo's chief commissioner Garibaldi Thohir is the brother of SOE Minister of BUMN Erick Thohir.

The irregularities of the GoTo IPO, which was held in April, can also be seen from the stock's unusual market activity (UMA). GOTO's IPO price was Rp338 per share, but just 18 trading days later, the share price had plunged by up to 50 percent.

"The stock price drop sparked suspicions that state losses were incurred by Telkomsel's investment in the GoTo merger company," a document proposing the formation of a special committee for the matter said. The document had been signed by dozens of DPR members.

HENDARTYO HANGGI | DEWI NURITA | PUTRI BUDIARTI

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