TLKM - Rolls out MyIndibiz platform

TLKM - Rolls out MyIndibiz platform Telkom Indonesia (TLKM) has rolled out a platform for business-to-business (B2B) marketplace, namely MyIndibiz. Through this platform, the company is aimed to support small medium enterprises (SMEs) segment, offering product and other business solutions, including Netmonk as network monitoring platform and OCA as an omnichannel platform. (Source : Kontan) Comment : Under 5 bold moves strategy, TLKM also aims to expand its B2B Digital Service and DigiCo focusing on B2B and wholesale segments. Despite its smaller contribution compared with other Cos, we believe that DigiCo platform will be a another venue for further collaboration and potential synergy with other business segments, including helping support penetration of other TLKM’s products. We retain our BUY call on TLKM with target price of IDR4,420, mplying 5.6x '23F EV/EBITDA, while currently is trading at 4.6x forward EV/EBITDA rather undemanding at below -1SD 5-year mean.