IDX Director of Corporate Assessment I Gede Nyoman Yetna said the exchange had conducted a series of monitoring and supervisory measures, including a hearing with the company on April 8, 2026.
"The exchange has submitted several requests for clarification regarding the case faced by the company while also coordinating with the Financial Services Authority (OJK)," Yetna said in Jakarta.
The company submitted information disclosures and responses to requests for clarification from the exchange on May 5, 2026.
Telkom said it had established a Legal & Compliance Directorate and appointed a Chief Integrity Officer (CIO) to strengthen legal functions, compliance, governance, business integrity, and internal oversight.
The company also explained that the investigation by the U.S. Securities and Exchange Commission (SEC) began in October 2023 in connection with the BAKTI Kominfo project, which later expanded to include accounting issues.
"Since May 2024, the DOJ (Department of Justice) has also requested information regarding the Foreign Corrupt Practices Act (FCPA)," Yetna said, quoting the company's written response.
As a company listed on the New York Stock Exchange, Telkom said it is subject to U.S. securities regulations, including FCPA requirements.
Telkom also said its clawback policy had been effective since May 30, 2023, and that it had not received any formal notice regarding a class action.
The company also said its evaluation of drop cable and last-mile assets had been completed, leading to changes in accounting policies that will be applied retrospectively in the 2025 financial statements.
Regarding the annual report submission, Yetna said the company had filed a Notification of Late Filing with the SEC on April 30, 2026, and needed additional time to submit its 2025 Form 20-F.
IDX said it had also requested further clarification from the company and was still awaiting a response.
Yetna said the exchange would continue monitoring the case and take necessary supervisory measures while urging the public to pay attention to the company's information disclosures regarding further developments.
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Translator: Bayu Saputra, Kuntum Khaira
Editor: Anton Santoso
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