TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Danantara halts SOE corporate actions pending audit

The President has ordered a halt to all major corporate actions, including mergers and acquisitions, divestments and investments as well as spin-offs, until the Danantara board has reviewed such projects and the performance of SOE executives.

Ruth Dea Juwita (The Jakarta Post)
Premium
Jakarta
Fri, May 9, 2025 Published on May. 9, 2025 Published on 2025-05-09T11:32:03+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Danantara halts SOE corporate actions pending audit Danantara CEO Rosan Roeslani addresses reporters on May 7, 2025, at the presidential palace complex in Central Jakarta. (BPMI Setpres/Cahyo)

T

he country’s new state asset fund Daya Anagata Nusantara (Danantara) has ordered all state-owned enterprises (SOEs), except those publicly listed, to suspend corporate actions while it evaluates the performance of their executives.

Danantara CEO Rosan Roeslani confirmed the directive on Thursday, as President Prabowo Subianto had demanded that SOE leaders be “selected carefully”, with future board picks to follow Danantara’s recruitment model to help curb corruption.

Following a meeting with the President, Rosan told reporters at the State Palace that corporate actions were postponed “because, as the President has said, we want the most trained, best talent – those chosen based on meritocracy”.

“It comes down to value creation. Danantara has clear targets that we are expected to deliver on,” added Rosan, who is also investment and downstream minister.

Read also: Govt courts Bill Gates for Danantara board to anchor philanthropy push

The suspension, laid out in a circular dated May 5, follows the enactment of the new SOEs Law and the completion of share transfers in March, which consolidated all government-owned equities under Danantara as an operational holding company.

Prospects

Every Monday

With exclusive interviews and in-depth coverage of the region's most pressing business issues, "Prospects" is the go-to source for staying ahead of the curve in Indonesia's rapidly evolving business landscape.

By registering, you agree with The Jakarta Post's

Thank You

for signing up our newsletter!

Please check your email for your newsletter subscription.

View More Newsletter

The directive halts all major corporate actions including mergers, acquisitions, divestments, investments and spin-offs, as well as long-term contracts, until they have been reviewed by the Danantara board.

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank you

Thank you for sharing your thoughts. We appreciate your feedback.

to Read Full Story

  • Unlimited access to our web and app content
  • e-Post daily digital newspaper
  • No advertisements, no interruptions
  • Privileged access to our events and programs
  • Subscription to our newsletters
or

Purchase access to this article for

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay

Redirecting you to payment page

Pay per article

Danantara halts SOE corporate actions pending audit

Rp 35,000 / article

1
Create your free account
By proceeding, you consent to the revised Terms of Use, and Privacy Policy.
Already have an account?

2
  • Palmerat Barat No. 142-143
  • Central Jakarta
  • DKI Jakarta
  • Indonesia
  • 10270
  • +6283816779933
2
Total Rp 35,000

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.