PT Telkom Indonesia (Persero) Tbk (“PT Telkom”), a state-owned company and multinational telecommunications conglomerate based in Indonesia, recently disclosed in a securities filing that it was cooperating with two U.S. investigations launched by the Securities and Exchange Commission and the Department of Justice into possible FCPA and other violations. PT Telkom reported that it was cooperating with both investigations and had retained outside counsel to conduct an internal investigation, which is ongoing.
According to the Form 6-K filed on April 18, 2025, the SEC launched an investigation in October 2023 into Telkom Infra, one of PT Telkom’s subsidiaries, and requested documents relating to the subsidiary’s “involvement in a project with the Indonesian Information and Telecommunication Accessibility Agency of the Ministry of Communication and Informatics (“BAKTI Kominfo”) regarding the provision of 4G Base Transceiver Station (“BTS”) Infrastructure.” PT Telkom also reported that, in addition to investigating possible FCPA violations, the SEC’s investigation included a review related to possible accounting and disclosure issues regarding revenue recognition, financial reporting practices, and internal controls over financial reporting. PT Telkom also disclosed that it received requests for information from the DOJ at the beginning of May 2024 related to PT Telkom’s compliance with the U.S. Foreign Corrupt Practices Act (“FCPA”).