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market
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4
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ersembahan 1e|kom
Indones|a
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semesta a|am
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ang terba|k untuk pe|anggan
Company:
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shareho|der
3
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2013
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7
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leb 2013
8
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24.3%
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1e|kom kanks
9
1e|kom Indones|a
kank 2

V!P >?@> C !P >?@UW
1ahun 2012
1ahun 2013
683
Iorbes G|oba| 2000 - South Last As|a
Indones|a Stock Lxchange ~ Ieb 2014
5;EJ< C %IHHGX:K
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1 HMSP 304 6.8%
2 ASII 271 6.1%
3 BBCA 253 5.7%
4 TLKM 227 5.1%
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Top 5 Market Cap (IDX) (Trill Rp)
TOP 5
1e|kom Awards
10
#:;T=LKR
5GK:KO=
Marketeer of 1he ear 2013
8MA 2013
?78% 0%&' 0@AB (# A,):%C#D
EFGHI 78% 0%&' <AJK
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Award 2013

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11
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kategor| 1e|ekomun|kas|. lnl merupakan kall
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yang dlselenggarakan dl MeLro 1v LersebuL
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G|oba| 1e|co Industry Landscape
13
14
1e|ecom Industry |n 1rans|non
4 ! 0rIvIng InnovatIon In dIgItal servIces
TELECD| AN0 |E0A N TFANSTDN
Telecoms Is today at a crossroad due to maturIty of tradItIonal access busIness and the advent of the
dIgItal revolutIon that requIres more advanced Infrastructure and has IncentIvIzed new competItors
"
#
$
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1
TradItIonal advertIsIng: T7, PrInt, FadIo, CInema; 0IgItal advertIsIng Includes Internet based advertIsIng
N?ONPL>Q@R
1elkom roprleLary
7%-:(; 4)(=)2%',).

Mob||e data exp|odes

Conso||danon connnues

Consumers are se|z|ng contro|

C11 prov|ders thr|ve
1S mu|n-country (10 or
more countr|es) compan|es
now contro| more than 3
b||||on subs
8y 2016, mob||e tramc
pro[ected to grow to 11
exabytes]month, 70 of
that v|deo content
4 compan|es make up 70
of the tota| market va|ue of
the top 2S dr|vers of
|nternet tramc: App|e,
Goog|e, Amazon and
Iacebook
Cn|y 18 of peop|e trust
|nformanon from reta||ers
and manufacturers
Case of W|nn|ng 1he 1ranslenL AdvanLage - W|th|n today's transform|ng
te|ecommun|canons |andscape, four ma[or trends are apparent
Source: l8M
1elco or lC1 provlders wlll be requlred Lo Lransform as soon as posslble ln Lhe
Lelecommunlcauons buslness, as well as Lo expand Lhe markeL globally lf Lhey wanL Lo susLaln Lhe
overwhelmlng challenges
1e|co New kea||ty: overcom|ng the 10 bus|ness r|sks
1wo Ma|n k|sks :
1. Ia||ure to sh|h the bus|ness mode| from
m|nutes to bytes
2. Customer D|sengagement
1he 1op 2:
key Ins|ght
Source: LrnsL & ?oung 1op 10 rlsks ln Lelecommunlcauons revlslLed - Mlugaung LhreaLs Lo operaLors (2012)
A|so watch out! .
17
ke|nvennng 1he 1e|ecom Industry
7 ! 0rIvIng InnovatIon In dIgItal servIces
"#$ "#&
"'(
$##) $#'# $#'$
FEN7ENTNC THE TELECD| N0USTFY
However, operators' dIgItal strategIes have not delIvered the expected results (not even for the most
successful operators) and revenues are flat sInce 2008 (vs. 24 growth for dIgItal gIants)
$*&$ $*#' '*$#
+,-./01, 203, /4
5.6* (
7080/.- 9,1,:;,2
(as of total)
<'= $= >?(=
12*
@#=
while /4A 4A,9./492
$
.9, 2/.8:.:/
'")
$#$
>"B
$##) $#'# $#'$
C$"=
D889,8./,E
9,1,:;,2
(S 8IllIons)
F4A E080/.- A-.G,92
'
.9, booming
1
SelectIon of the top 5 dIgItal players based on brand power, fInancIal strength and global relevance (Facebook went publIc In 2012 and therefore has not been
Included);
2
8Iggest |NDs In terms of revenues (note that 0eutsche Telekom was taken as consolIdated fIgures and that ChIna |obIle and 7erIzon have been
excluded to gather a more representatIve vIew of the Industry realIty)
Source: 8loomberg; WIreless ntellIgence; last avaIlable annual report for each company shown above
HDI+
=
JJ 9,1,:;,2
(as of total)
K= '$= 'K=
18
ke|nvennng 1he 1e|ecom Industry
Souce: uelLa arLners
8 ! 0rIvIng InnovatIon In dIgItal servIces
"#$% %#&" %#'(
)*+,-. 0*1
(S 8IllIons)
while top operators are stagnant
FEN7ENTNC THE TELECD| N0USTFY
n lIght of poor performance and lack of success cases, the Investor communIty Is IncreasIngly
questIonIng operators' abIlIty to sustaIn (or grow) returns
'22
&3(
"4%52
2%%( 2%"% 2%"2
6257
89#
Source: 8loomberg; WIreless ntellIgence; last avaIlable annual report for each company shown above
:-;*.<8- 9<=-
.> ?*@# A
A'3
A53
A"%
2%%( 2%"% 2%"2
B27C
Top digital players are booming
DEF:
7
19
ke|nvennng 1he 1e|ecom Industry
11 ! 0rIvIng InnovatIon In dIgItal servIces
FEN7ENTNC THE TELECD| N0USTFY
The cash cow model is however no guarantee of sustainability; due to the digital revolution
establIshed companIes have been made redundant and others have had to reInvent themselves
"#$%&'( )*&+#' #- .''#/&0.#' -&.123*
Lack of attentIon for radIcal InnovatIon.
Stuck to 070 rental
Lack of support for radIcal InnovatIon
nvented the dIgItal camera but never
commercIalIzed It
0eveloped a full colour and touch screen
devIce 4 years before IPhone, but
management deemed the rIskreward
equatIon unattractIve
456
758
9::7 9::6
9::; 9:89
"#$%&'( )*.'/*'0*< .'=2$>*'0+
Sold off PC unIt to Lenovo In 2005, focus on
solutIons E servIces
Launched IPhone, IPod, IPad, App store and
successfully capItalIzed on the entIre dIgItal
system
PIoneered dIgItal streamIng In 2007 when
competItors stIll stuck to 070 rental
)*/*'2*+ ?@>'A
)*/*'2*+ ?@>'A
)*/*'2*+ ?@>'A
9::; 9:89
)*/*'2*+ ?@>'A
BC9D
8757
;59
9::4 9:88
TradItIonal
0IgItal
B4:D
Phone
NSN
ServIces E other
B78D
Source: Company reports, 0elta Partners analysIs
ServIces
Software
Hardware
92
104
C7D
B
8ED
97D
4:D
;ED
9::7 9:89
C9D
8::D
EFD
9::E 9:89
)*/*'2*+ ?@>'A
1
J.6
StreamIng
070
)*/*'2*+ ?@>'A
Dther
IPhone, IPad,
IPod
|ac
24
156
0
50
100
150
200
2007 2008 2009 2010 2011 2012 2013
Med|a
1op 20
1e|cos
1
Internet
Lnab|ers
Cn||ne
Serv|ces
C &
Dev|ces
2008 2009 2010 2011 2012
15%
15%
17%
17%
19%
1op 20
1e|cos
1

2008 2009 2010 2011 2012
Industry
Average
2

13
12
11
11
11
1e|co |ndustry has c|ear|y fa||ed to de||ver shareho|der returns, as a
consequence of |nab|||ty to monenze |nvestments
1. Based on top 20 global Telcos ranked by FY 2012 revenues calculated by financial year
2. Average of Verizon, AT&T, Rogers, Bell Canada, O2 UK, Vodafone UK, Swisscom, Movistar Spain, KPN Netherlands, T-Mobile Germany, Orange France calculated by calendar year;
Telstra capex to sales calculated by financial year
3. Average of Online Services (Amazon, Google, Yahoo, eBay, Baidu, Expedia & Bwin), PC & Devices (Microsoft, Apple, Dell, Acer, Nokia & McAfee), Internet Enablers (Akamai,
CyberAgent, Google, Valueclick, Verisign & WPP), Media (Disney, Fox News, Time Warner ,Warner Music Group, Vivendi & Electronic Arts)
Source: Bloomberg, Bank of America Merrill Lynch, TIPM
Large Co. Market Cap by Segment
3

(2007-2012, Indexed to 100 at 1
st
January 2007)
EBIT Margin % Top 20 Telcos
(2008-2012, %)
Wireless Capex to Sales
(2008-2012, %)
-80%
-40%
0%
40%
80%
120%
-10% -5% 0% 5% 10%
W|re|ess Market Share Ga|n (2010-2013)
Market Cap growth cou|d be acqu|red by ga|n|ng
market share.
1. Market capitalisation of Optus is represented by SingTel
Source: Bloomberg (August 2010 to April 2013), Bank of America Merill Lynch Global Research
1ota| Market Cap|ta||zanon Growth
(2010-2013)
1
Top 20 Telcos by Wireless
Revenues
Avg. =
- 0.1%
Avg. =
22,8%
Value creation of Top 20 Wireless Groups
.however, L8I1DA-CALk growth wou|d be more re||ab|e to contr|bute
Market Cap as "show me the money" w||| a|ways be the key monf
1
Top 20 wireless players Market Cap Growth vs. EBITDA - CAPEX Growth
1. MarkeL caplLallsauon of CpLus ls represenLed by Slng1el, 2. llnanclals of enure group 2. SprlnL, k1 2010-2012 L8l1uA-CALx daLa
Source: Bloomberg, Capital IQ, A.T. Kearney
-80
-40
0
40
80
120
27 18 9 0 -9 -18 -34 -63
L8I1DA - CALk Growth
(CAC8, 2010-2013)
1ota| Market Cap|ta||zanon Growth
(2010-2013)
Avg. =
22,8%
Avg. =
- 7%
8enchmark aL Lhelr sLraLegy
23
8e a |auorm
lauorms help users creaLe
producLs, buslness, communlues,
and neLworks of Lhelr own. lL
he|p others bulld va|ue
lf lL ls open and collaborauve,
Lhose users may ln Lurn add va|ue
Lo Lhe plauorm
?"# '8% %3(#(;. S%R)% 2# #(SI 26 .(OR)% #(' , =-,T();I .(OR-- P% 3(;;(52CU%5K
- lred Wllson (venLure CaplLallsL)
lauorm for publlshlng lauorm for paymenL servlce
lauorm for conLracLors lauorm for book Lours
Ie Iarv|s "What wou|d Goog|e do ?"
24
2QQ;E:OP :KM $bQ=O<=M "9Q:O<
Source: uelLa arLners
1elco needs Lo follow a complemenLary approach Lo wln Lhe game ln Lhls Lransluon perlod. l.e. Lo compeLe ln
Lhe rlghL place across Lhe rlghL verucals, whlle moneuzlng Lhe medlauon opporLunlLy Lo maxlmum exLenL.
NEOIJ
VQH:cE;9W
25
)=b< -=X=H #=MG:LEKY 'GR +:<: GJ )=b< 'GR !PGKR d
28 ! 0rIvIng InnovatIon In dIgItal servIces
NEXT LEVEL MEDIATION
Dther potentIal examples Illustrate the power of an operator capabIlItIes In the context of the
dIgItal revolutIon
"#$%&'( *+',-(*.
Source: 0elta Partners
|usIc portal wants to secure
good QoS to sustaIn experIence
Dp. prIorItIzes theIr traffIc
Dperator gets revenue share
DTT offers accessIncluded
servIce to Its customers
Dperators provIdes free access
to DTT subscrIbers
DTT pays a share of Its
revenues to operator
Customer InsIghts
FIsk profIle
nsurance premIum
Customer InsIghts
8TL + promotIons
TraffIc + sales conversIon
Customer InsIghts
8TL / taIlorIng / promos
ncreased share wIthIn route
and loyalty
Customer InsIghts
Tax profIle Is developed and
sold to government
Targeted Tax audIts
/0123456 65789 7:; <:=67126082065 /0123456 <:1<>921
Dperator reaches a wholesale
agreement wIth Apple
IPad sold wIth S|+bundle
Dperator gets a revenue share
?
Monenz|ng mode|s w|th d|g|ta| p|ayers
Monenz|ng the data ana|ync
D|g|nzanon has [ust started and "d|g|ta|" segments w||| be
grow|ng across a|| markets
Digital consumers weight by country
Sources: A.T. Kearney analysis
22
13
12
9
8
19
18
27
19
39
10
18 18
29
14
LL
100
7
20
12
LL
Advanced
100
8
27
8
LU South
100
9
20
13
LU Centra|
100
11
12
29
LU Nord|c
100
10
14
24
2012 EMEA mix of customers
Advanced
market
G|oba| ce||u|ar market akan menghas||kan revenues
US51.124 1n pada tahun 2017
Source: A.1. kearney, Llu, CarLner, CSMA Wlreless lnLelllgence, luC, Wlreless MaLrlx, 2013
erLumbuhan revenue operaLor neLwork akan leblh rendah [lka dlbandlngkan dengan perLumbuhan
usage", dlkarenakan A8u mengalaml penurunan dlseuap wllayah belahan dunla.
! ! uml ah pengguna mobl l e akan
berLumbuh pada CAC8 4.2 Lahun
2012-2017 dan LoLal dl Lahun 2017
mencapal > 4 mllyar subs (CSMA
Wlreless lnLelllgence, 2013)
! Moblle connecuons dl dunla akan
Lumbuh dengan CAC8 3 Lahun
2013-2017 dan mencapal 9.7 mllyar
koneks, dlmana Asla paslc sebagal
salah saLu emerglng markeL men[adl
pendorong uLama perLumbuhan
! Selaln perLumbuhan pengguna,
koneksl mobl l e, dan peneL rasl
smarLphone, pendorong pendapaLan
lalnnya dlperklrakan akan muncul darl
mo b l l e l n L e r n e L L r a mc y a n g
dlmanfaaLkan ekoslsLem moblle dan
dlglLal buslness
As|a ac|hc
Lurope
North Amer|ca
Lann Amer|ca
M|dd|e Last
Afr|ca
Cthers
2008 2009 2010 2011 2012 2013 2014 201S 2016 2017
key Ins|ght
erLumbuhan global cellular revenue akan menurun mulal Lahun 2012 darl 4.2 men[adl 2.3
28
otens| pasar g|oba| b|sn|s mob||e kedepan mas|h men[an[|kan dengan
men|ngkatnya kebutuhan mob||e data trahc
! Asla aclc akan men[adl
r e g l o n d e n g a n
perLumbuhan moblle daLa
Lramc pallng pesaL
! Mo b l l e v l d e o a k a n
menghasllkan 66,3 darl
moblle daLa Lramc dl Lahun
2017 dengan [umlah Lramc
leblh darl 6 LxabyLes per
bulan.
! 8evenue mobl l e vl deo
dlperklrakan mencapal uS$
9,38n dl 2017 yang berasal
darl revenue Lramc dan
C11 llke buslness model
(ads based, dan freemlum)

1(O)3% V <2&3( WB"I EFGH
0
1000
2000
3000
4000
3000
6000
Asla aslc norLh Amerlca WesLern Lurope Mlddle LasL and
Afrlca
CenLral and
LasLern Lurope
Laun Amerlca
2012
2013
2014
2013
2016
2017
CAGk 66
8 per month
key Ins|ght
Moblle daLa Lramc per reglon
29
koneks| g|oba| berdasarkan tekno|og| menun[ukkan akan ter[ad| pen|ngkatan
koneks| 3G dan 4G yang d|dorong o|eh kebutuhan mob||e broadband
ualam hal [umlah koneksl, Leknologl
2C maslh menyumbang sebaglan
besar koneksl global pada Lahun
2012 sebesar 3 mlllar darl LoLal 6,8
mlllar.
namun, perLumbuhan koneksl akan
dl dor ong ol eh penl ngk aL an
penyerapan koneksl 3C dan 4C,
yang dlperklrakan akan menlngkaL
darl 26 men[adl 33 dalam
koneksl global selama perlode
2012-2017.
onsel L1L-enabled belum beglLu
slglnlkan dlmana maslh mewaklll
kurang darl 4. namun, dlpredlksl
Lahun 2017 perLumbuhan global
L 1L/ 4C menc apal 920 [ uL a
pengguna.
key Ins|ght
1(O)3% V N1A+I EFGE
8 2017 3G AND 4G
SnAkL IS ICkLCAS1 1C
INCkLASL 1C
S3
Domesnc 1rends
30
Country & Industry Cverv|ew
Lkonoml lndonesla dalam kondlsl mendapaL Lekanan
Indones|a
Demograph|c, Lconom|c and IC1 Ind|cators
1
Population 240M
! Age 0-14 26.9M (11.2%)
! Age 15-64 157.4M (65.6%)
! Female 119.3M (49.7%)
Households 65M (3.7 PP/HH) *
GDP (PPP) 2012 $1,314 Bill
GDP per Capita 2012 $4,021
Employment to population ratio, 15+ 62.6%
Avg HH Consumption Expenditure $12,710 *
Mobile Subs 2012 (Penetration) 298.6M (119,9 %)
Industry Growth ro[ecnon |n 2014
2 Country Cverv|ew
lndonesla adalah negara Lerbesar dl ASLAn
darl slsl ekonoml dan populasl. erLumbuhan
ekonoml dl klsaran 6, saaL lnl lndonesla
sedang mengalaml perlambaLan ekonoml.
ulpredlksl seLelah emllu 2014, kondlsl
ekonoml makro akan membalk.
Source:
1. lrosL & Sulllvan lorecasL, World 8ank 2. www.koran-slndo.com
0 0.03 0.1 0.13 0.2
erLanlan
ManufakLur
LlsLrlk, gas dan alr
berslh
keuangan
konsLruksl
erdagangan, hoLel dan
resLoran
1elekomunlkasl
roperLy
Sektor transportas|, te|ekomun|kas| dan property d|yak|n| mas|h
tumbuh pesat pada tahun mendatang. ertumbuhan sektor
tersebut bahkan yang pa||ng nngg| d|band|ngkan |ndustr| |a|n.
0 3 10 13 20
1elkom roprleLary
7%-:(; 4)(=)2%',).
Ana||s memetakan nga tantangan d| market Indones|a...
32
key Strength key Cha||enge
Masslve markeL slze
aordable moblle daLa raLe
Cheap moblle devlce
Well esLabllsh 1elcos
1he rlghL Lesung ground for huge
lndoneslan markeL
SMS servlce ls key success
Plgh moblle phone peneLrauon
Moblle paymenL are wldely accepLed
Cood sLarung polnL Lo expand across Asla
Lasy access Lo caplLal
Plgh smarLphone peneLrauon
Leadlng markeL for onllne gamlng
huge lphone populauon (78 of
smarLphone user use lphone)
CuallLy of Connecuon
8lsnls model and paymenL mode
Lack of ecosysLem supporL
...menyangkut kua||tas [ar|ngan, mode pembayaran yang rum|t dan be|um tersed|a
ekos|stem pendukung
Low smarLphone peneLrauon raLe
Plgh daLa charge
Low smarLphone peneLrauon raLe
Plgh cosL of xed/moblle lnLerneL
Plgh cosL of smarLphone devlce
MarkeL ls Loo small
ShorLage of Lechnlcal LallenL
CosL are hlghesL from Lhe resL SLA
refer free apps/onllne servlce
Plgher Wllllngness Lo spend Lo moblle
connecuvlLy
Large populauon
Mobllea and lnLerneL peneLrauon ls hlgh
C11 paymenL ls sLarL Lo grow
CperaLor wanL Lo eaL all Lhe Lhlng lncludlng
apps
Source moblle Monday, frosL and sulllvan
1elkom roprleLary
7%-:(; 4)(=)2%',).
D|antara ma[or market d| As|a 1enggara, Indones|a merupakan sa|ah satu
pasar yang pa||ng potens|a| dengan popu|as| yang besar
33
namun peneLrasl moblle yang sudah meleblhl 100 memerlukan ker[a plnLar unLuk
men[aga perLumbuhan dl lndusLrl lnl
opulauon 240Mn
Cu $1.3148n
Cu percaplLa $4.021
Moblle eneLrauon 119
opulauon 3,3Mn
Cu $3278n
Cu percaplLa $61.046
Moblle eneLrauon 130
opulauon 66,7Mn
Cu $7018n
Cu percaplLa $10.849
Moblle eneLrauon 113
opulauon 90,3Mn
Cu $3848n
Cu percaplLa $4.241
Moblle eneLrauon 60
opulauon 99Mn
Cu $4348n
Cu percaplLa $4.660
Moblle eneLrauon 100
opulauon 28,3Mn
Cu $3218n
Cu percaplLa $11.313
Moblle eneLrauon 124
Source moblle Monday, frosL and sulllvan
1elkom roprleLary
7%-:(; 4)(=)2%',).
enduduk Indones|a mem|||k| kecenderungan penggunaan
perangkat mob||e yang nngg|
34
key Ins|ght
Moblle cenLrlclLy merupakan lndlkaLor
penggunaan perangkaL moblle unLuk
berbagal macam akuvlLas lndlvldu
uera[aL moblle cenLrlclLy yang unggl
menglndlkaslkan penggunaan
perangkaL mobll dlbanyak akuvlLas
seharl-harl
Pal lnl membuka peluang yang besar
unLuk blsnls dlglLal llfe
8erdasarkan sLrengLh and challenge lndonesla anallsls berpendapaL kuncl sukses dl pasar
lndonesla anLara laln markeL educauon and campalgn, lnovasl, regulasl yang mendukung lnovasl
Source moblle Monday, frosL and sulllvan
Indones|a mem|||k| eSEIKRD QEQIH:LEK - ke|ompok us|a 1S-44 tahun
yang akan merepresentas|kan ~S0 popu|as| d| 201S
opulasl produkuf secara ekonomls akan tumbuh ^[_ GK >?@f , M:;G ^^_ J::< GKG
uengan makln membalknya ungkaL pendldlkan dan akses kepada Leknologl, pelanggan akan secara akuf memanfaaLkan
dalam GKNE;9:LEK OEKJI9QLEK C OEK<=K< O;=:LEK
Population Age Distribution
201S
26
23
23
20
7
2010
28
26
23
18
6
1990
36
30
18
13
4
-1.3%
-0.7%
1%
1.6%
2.4%
Indonesia
820*
@\\?]>?@f
28
Ch|na
19
23
22
27
10
kuss|a
16
19
23
14
Ind|a
29
26
21
18
6
8raz||
23
24
23
21
7
0-14 13-29 30-44 43-64 63+
2015 Age Distribution Peer Group Countries

Source: BPS, EIU
36
Da|am era 'OEKK=O<=M aE;HM', smartphone, soc|a| med|a, dan mob||e
apps ada|ah pendorong OEK<=K< OEKX=;R=KO=
kecangglhan gadgeL, kebuLuhan moblllLy, kemudahan pengembangan apllkasl dan conLenL serLa Larlf
layanan yang kompeuuf menganLarkan moblle servlces pada era baru konvergensl
erubahan llfesLyle dlmana:
menl ngkaLnya demand daLa
servlces dan mulu-medla
pelanggan selalu mencarl model
smarLphone Lerbaru
Makln banyak orang Lerhubung
ke lnLerneL dengan wakLu yang
leblh lama:
Pamplr 1 darl 4 org dl lndonesla
menggunakan lnLerneL
9 darl 10 Leenagers sudah go onllne
Moblle phones men[adl gadgeL uLama
mengakses lnLerneL (62)
1op ve appllcauon caLegory
berdasarkan wakLu yang Lerpakal:
Cames (43), Soclal neLworklng
(26), LnLerLalnmenL (10),
uullues (10), news (2)
key Ins|ght
SMART
PHONE
drive the adoption
SOCIAL
MEDIA
create the demand
MOBILE
APPS
push the
behavior
1oLal publlshed moblle apps
(as per !ul 2013)
1 0 0 0 k
2012 2013 2014 2015
26
41
61
75
58%
47%
22%
No. of Smartphone in Indonesia
(in million)
Lower price, easier interface, local adaptation,
operator bundling & plan accelerate the penetration
0 1 6 0
0 9 0 0 k
k
83% of Indonesian internet
users access social media sites
Mobile
Phone,
54%
Tablet,
2%
Laptop,
26%
Desktop,
12%
Others,
6%
62
8
Soc|a| Med|a
Mus|c
V|deo
Games
I|nanc|a|
Maps
Cmce & ebooks
Messag|ng
8rowser
hotography
More use-cases lnLroduced on moblle apps:
Source: 1elkomsel aL 8lz1ech 2013
Indones|an ce||u|ar market w||| generate revenues of kp 1S1 1n
by 2017
gZA_
2017
1S1
60
33
49
9
2016
140
38
31
42
9
201S
131
37
30
36
8
2014
121
33
28
31
8
2013
111
33
26
24
@?Zf_
2012
99
31
24
17
7
2011
87
48
8
11
7
2008
1
17
43
69
6
[Z@_
21
27%
8%
4%
820*
>?@@ ] >?@g
volce
SMS
uaLa
CLhers
Core]Legacy Market Cverv|ew
(1)
(8p 1n)
kevenue oo|s
1. Excludes digital
Source: A.1. kearney lndoneslan MarkeL Model, Merrlll Lynch 2C 2012 Wlreless MaLrlx
Key Drivers
1.Healthy GDP growth: Real GDP is
projected to grow at >6% annually on
for the next 5 years, delivering ~5%
real GDP per capita growth
3.Rapid growth of mobile data
consumption driven by growth in
smart phone penetration and data
adoption
2.Increase number of subscribers (3%
CAGR) and SIMs (6% CAGR) in the
market due to increasing affordability
and coverage
4%
Data pay|oad |s expected to grow exponenna||y
672
448
263
131
66
hU\_
hg\_
2017
1,306
2016
936
2013 2014 2013 2012 2011
35
41
50
64
87
121
162
]>U_
2017 2016 2013 2014 2013 2012 2011
536
414
301
204
124
64
33
309
74
40
22
2017 2016
233
2013
171
2014
119
2013 2012 2011
Data
Payload (PB) Usage per subs / SIMs (MB) Price per Unit (Rp)/(MB)

Source: A.T. Kearney
Service segment metrics
Subscrlbers
SlM
*1 peLabyLe (8) = 1024 1errabyLe (18)
hf\Z@A_
hffZUU_
Data usage |s expected to |ncrease rap|d|y as pr|ce drops and
smartphone penetranon |ncreases
119
500
145
35
61
211
1,065
800
500
583
276
100
13 10
4
17 '11 '14
Revenue Per MB (Rp)
Data Usage / User / Month (MB)
(2)

leaLure hone
SmarLphone
uongle
uongle + SmarLphone
leaLure phone

1. CLher counLrles numbers are from 2011
2. unlque subscrlbers basls - lncludlng muluple SlM facLor
Source: A.T. Kearney Indonesian Market Model, Credit Suisse
Data Growth Dr|ver

Data r|ce 8enchmark (kp ] M8)
(1)
10
50
57
105
104
162
285
]^\_
S|ngapore
Indones|a (201S)
Ma|ays|a
1ha||and
h||||p|nes
Indones|a (2011)
Ch|na
Smartphone penetranon growth |s the key dr|ver for rap|d
growth |n data revenue
0
20
40
60
80
'17 '16 '1S '14 '13 '12 '11
820*
>?@@ ] >?@g
SmarLphone
uongle
41%
7%
1. Lowest price in the market for a new unit
2. Percentage of total population other countries numbers are from 2012
Source: A.T. Kearney Indonesian Market Model
Smartphone enetranon Dr|ver

Smartphone enetranon 8enchmark
(2)
2
1
0
400,000
3
4
LapLop
SmarLphone
Smartphone / Laptop Price
(1)
(Rp Mn)
Smartphone / Dongle Penetration
(2)
40
hfA_
Indones|a (2017) 70
S|ngapore 66
Austra||a 63
korea 33
Ma|ays|a
1ha||and 17
Indones|a (2012) 16
Remains stable at
Rp 3.5 Million
C C 1 1 L N N C C 1 1 L N N
01
1LLkCM 8USINLSS
LLADLkSnI & S1kA1LG
02
1IMLS 8USINLSS 1kLND
03
1LLkCM S1kA1LG
DLVLLCMLN1 &
MAIN kCGkAMS
%9:;< 3=:; >?@A
Strategy Deve|opment
42
43
%9:;< $b=OILEK M:H:9 9=H:TJ:K:T:K !=HTE9 0;Ea<P %<E;S 9=H:HIG
1:;=KLKR7 1:;<K=;GKR7 1:;:MEb
artner|ng
Strategy
aradox
Strategy
arennng
Strategy
i%9:;< $b=OILEK
NE; 0;Ea<P %<E;Sj
arennng Strategy
Adalah baglan darl corporaLe sLraLegy
unLuk mengelola mulu blsnls dengan
ungkaL maLurlLy yang berbeda dengan
mengedepankan slnergl anLar group
artner|ng Strategy
Adalah baglan darl buslness sLraLegy
dengan beker[asama dengan global players
maupun menumbuhkan local LalenLs unLuk
memperkuaL blsnls lC1
aradox Strategy
Merupakan funcuonal sLraLegy yang akan
menghasllkan produk dengan cara yang
udak blasa (paradox) dan melalul blsnls
model yang leblh kreauf
44
1:;=KLKR %<;:<=RS V@W , 8EKX=;R=M !"#$% 1E;cEHGE
%<;:<=RG !=HTE9 :M:H:P 9=H:HIG #IHL 1E;cEHGE 'IJGK=JJ :KM *=H:<=M M=KR:K
Q=KR=9F:KR:K 8EKX=;R=M !"#$% QE;cEHGEZ
A 8 C D L
neavy Lqu|pment
Agr|b|sn|s
Astra I|nance
Astra Infrastructure
Astra I1
Automonve
1 I M L S
Converged & Synergy
oruollo SLraLegy
8elaLed
Slngle oruollo
ConglomeraLe
Mulu oruollo

roduct
oruo||o
1
I|xed hone
Mob||e
Interconnecnon &
Internanona| 1ramc
W|I|
Network Serv|ces
Sate|||te
1
I
ML
I|xed 8roadband
1
e
|
c
o

N
L
8

&

S
t
r
a
t
e
g
|
c

C
p
p
o
r
t
u
n
|
n
e
s


Customer
oruo||o
Consumer]nome
SML
Lnterpr|se
S
e
r
v
|
c
e

Who|esa|e
Internanona|
ersona|
1ower
2
3
1
S
6
4
7
8
rem|ses Integranon Serv|ces
VAS Managed Apps ] I1C
Data Center & C|oud Comp.
Data Ana|yncs
e-ayment
Lcosystem So|unon
8C
D|g|ta| Med|a Screen
D|g|ta| Med|a L|fe
D|g|ta| Adverns|ng
10
11
9
13
14
12
1S
16
17
18
2
20
19
22
23
21
24
1LLkCM mem|||k| 24 portofo||o b|sn|s yang terd|r| dar| 18 product poruo||o dan 6
customer poruo||o
43
46
1:;=KLKR %<;:<=RS V>W , %SK=;RS +=X=HEQ9=K<
ko|e of
Subs|d|ar|es
New
Innovanve
Growth
Strateg|c
D|recnon
i+=X=HEQGKR
%SK=;RS
0;Ea<P
/QQE;<IKG<S j
Nurtur|ng Synergy
uevelop new prospecuve
poruollos
Co||aboranon Synergy
Maxlmlze Croup's compeLencles
8oosnng Synergy
lmprove Lhe growLh of oLher
buslness poruollos
1ransformanona| Synergy
Lmpower parenL's and
subsldlarles' capablllues Lo creaLe
new buslness models
1
2
3
4
Cne of the most |mportant aspect to create compennve advantage |s synergy
47
1:;<K=;GKR %<;:<=RS V@W , f .=S %<;:<=RG=J <E %L9IH:<= 0;Ea<P
1.

Invennng new plauorms, producLs
and buslnesses from exlsung
lnLellecLual properLy ln boLh core
and noncore

Lechnologles.

2.

Invesnng ln new Lechnologles and
emerglng markeLs.

3.

artner|ng wlLh oLher companles
or faclllLaung Lechnology splnouLs.

3.

Acqu|r|ng and |ntegranng venLures
LhaL boLh supplemenL Lhe exlsung
producL and buslness poruollo, and
provlde enLry Lo emerglng markeLs

4.

Ventur|ng Lo fuel revenue growLh
or seek venLures as soluuons Lo
buslness problem.
c
c
the great
company

48
1:;<K=;GKR %<;:<=RS V>W , 1:;<K=;GKR aG<P 0HEF:H 1H:S=;
Building key ICT businesses on Telkom Groups core strengths: the communications and
networks infrastructure
Business Process
Outsourcing
Solutions & Systems integration

Data Center
& Cloud
Communication
as a Service (CaaS) & Managed
Services (UC, Security)
Connectivity &
Managed Network
Services


I
C
1

I
C
1

I
C
1

I
C
1

I
C
1

S
4
3
2
1
Cb[ecnve
1. 8u||d 8C 2.0 capab|||nes Lo proLecL marglns
2. artner to |eapfrog sk|||s Lo expand reglonally
3. 8u||d |nterna| I1C]8C capab|||nes Lo serve lnLernal group
1. Conso||date I1 headcounts Lo bulld shared Sl dellvery
2. Increase producnv|ty & upsk||| Lo global sLandard
3. Increase sa|es for S|gma wnh mob|||ty & D|g|tazanon So|unons
1. 8u||d data center (DC) program
2. DC 8us|ness deve|opment (who|esa|e co-|o)
3. Serv|ce management mode| & p|an
1. 8u||d "centra||zed" UC capab|||nes Lo manage mlgrauon/subs
2. 8u||d I vo|ce m|granon roadmap Lo proLecL marglns
3. 1arget managed serv|ces accounts ln large enLerprlse
1. Cpnm|ze the IDN (hber) |nfrastructure Lo ensure full seL Managed neLwork
Servlce (MnS) ln place
2. 8u||d new Managed Data Netwrok (MDN) Serv|ces kevenue & standard SLAs
w|th|n organ|zanon
3. 1o agree of CLA and c|ear end-to-end respons|b|||nes by SLAs by 8U e.g. ulvLs,
u8s, nAS, 1sel, eLc
!olnL venLure
arLnerlng
arLnerlng
arLnerlng
IC1 Va|ue Cha|n
49
1:;<K=;GKR %<;:<=RS VUW , "KMGRE "KOIF:<E; $OEJSJ<=9 V4=K<I;GKRW
Creanve Center d|
20 kota (1 2014)
Irom Creanv|ty to Commerce Start Up Deve|opment rocess & Lcosystem
Start up Deve|opment hase
50
1:;:MEb %<;:<=RS V@W , #E;= NE; -=JJ
MCkL
ICk
MCkL
MCkL
ICk
LLSS
LLSS
ICk
LLSS
LLSS
ICk
MCkL
kemove
|rre|evant
va|ue and
charge sma||
denom|nanon
Cer more
va|ue w|th
extra cost
rov|de more
re|evant
va|ue w|th
|ess cost
kemove
|ess
re|evant
va|ue and
charge |ess
cost
Learn|ng from paradoxes |n the bus|ness wor|d
Source: Arlef ?ahya, aradox Markeung
51
1:;:MEb %<;:<=RS V>W , *= FEE< SEI; 'IJGK=JJ
Irom Me to ou
G|ve Me Un||ty
8u||d to 1ouch
Lngage w|th Data
Cne Lead Mu|n
Screen Wor|d
Membangun d|rect re|anonsh|p dengan memposlslkan dlrl klLa as customer.
Customer Centr|c adalah menempaLkan dlrl klLa sebagal user darl produk klLa sendlrl.
MenlngkaLkan Customer Va|ue aLau nllal Lambah yang akan dldapaL oleh pelanggan darl
penggunaan produk klLa
Membangun un||tar|an|sm markenng, pelanggan udak hanya dl-drlve unLuk "want to
use" (secara konstan dan kons|sten), namun [uga memberlkan auenuon & lnLeresL".
1u[uannya men[adlkan produk klLa "to be usefu|" bagl pelanggan dan produk klLa men[adl Lop of
mlnd. Case: usee1v.com
Memberlkan user exper|ence yang prlma dalam mengeksplorasl kegunaan semua fungsl/Lur
produk
Membangun customer engagement dengan menclpLakan layanan yang |nteraknf dan berslfaL dua
arah
elanggan udak hanya me||hat namun [uga menyentuh & merasakan keLerllbaLan secara akuf.
Case: uzone, "More for Less" one sLop dlglLal shop (LducaLe, LnllghL, LnLerLaln)-WoW Channel
1
2
3
4
3
Memberdayakan data base yang dlmlllkl unLuk mengeLahul perllaku dan kelnglnan pelanggan
Connecung Lo CusLomer dengan melakukan anallsa komb|nas| antara ||near data (cusLomer usage)
dengan c|rcu|ar data (whaL Lhey are (cusLomer) dolng ln Lhelr soclal graph)
MemanfaaLkan b|g data Customer Ins|ght dan membangun relauonshlp dengan 3
rd
parues unLuk
memberlkan berbagal penawaran (servlce oerlng) secara konLeksLual
elanggan melakukan hamplr seluruh akuLasnya melalul mob||e gadget on the|r hands
Cne screen world sudah men[adl a mass market
<O&'(;%) V ?78% (#-. &3)%%# '8,' ;,X%)& 2& '8% &3)%%# '8,' 2& GK N;EK< EN 9=K
%IOO=JJNIH 1;EMIO< GJ 9E;= :FEI< $9ELEK:H
Source: MlLch !oel, CLrl-AlL-uel your 8uslness
Ma|n rograms
32
rogram Utama 1e|kom Group 2014
33
kevenue 1e|komse| Doub|e D|g|t (10) :
66 1
1
8roadband : lun 2013
2
Internanona| Lxpans|on & k|ng of D|g|ta|
3
%IJ<:GKGKR
%O:HGKR
%OEQGKR
Global Leaders of the Future
The Jack Welch of the future cannot be like
me. I spent my entire career in the United
States. The next president of GE will have to
be someone who spent time in Bombay, in
Hong Kong, in Buenos Aires. We have to send
out best and brightest overseas and make sure
they have training that will allow them to be the
leaders who will make GE flourish in the
future.
Global Explorers, 1999

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