Telkom Indonesia Revisits NeutraDC Sale Plans - Report

Why It Matters

The sale could inject up to $1.5 billion into Telkom’s balance sheet, strengthening its capacity to invest in 5G and digital services. It also signals heightened investor appetite for Southeast Asian data‑center assets amid rising demand for cloud infrastructure.

Key Takeaways

• Telkom aims $1‑1.5B valuation for NeutraDC
• Sale includes majority stake, advisors Goldman Sachs, Mindiri
• Portfolio: 29 data centres across Indonesia, Singapore
• New MOU expands cross‑border digital link to Japan
• Previous attempts date back to 2022, now revived

Pulse Analysis

Indonesia’s largest telecom operator, Telkom, is once again courting investors for its data‑center arm, NeutraDC. The renewed effort follows a series of stalled attempts dating back to 2022, when the company first floated a sale at a nine‑figure valuation. By partnering with global investment bank Goldman Sachs and local boutique Mindiri Sekuritas, Telkom aims to secure a $1‑1.5 billion price tag for a majority stake, a move that would free up capital for its core network upgrades and 5G rollout.

NeutraDC’s asset portfolio underpins the transaction’s appeal. The subsidiary runs 29 facilities spanning Indonesia and Singapore, including a hyperscale centre in Jakarta and plans for additional hyperscale sites. Its recent memorandum of understanding with Ishikari Renewable Energy Data Center to link Hokkaido, Indonesia, and Singapore showcases a strategic push toward cross‑border digital infrastructure, aligning with regional cloud‑service demand and sustainability goals. Such developments enhance the company’s valuation narrative, positioning NeutraDC as a growth‑oriented platform rather than a static asset.

The broader market reads Telkom’s move as a bellwether for Southeast Asian data‑center investment. With enterprises accelerating digital transformation, capacity constraints are tightening, prompting investors to seek exposure to high‑growth infrastructure assets. A successful sale would not only bolster Telkom’s balance sheet but also signal confidence in the region’s cloud ecosystem, potentially spurring further M&A activity and capital inflows into similar facilities across the Indo‑Pacific.