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Jakarta Post

Concerns mount over possible management shake-ups at SOEs

  • Marchio Irfan Gorbiano

    The Jakarta Post

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Jakarta   /   Mon, July 22, 2019   /  04:26 pm
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State-Owned Enterprises Minister Rini Soemarno speaks to reporters. (JP/Tirta Utama Umbas)

Concerns are mounting that the government’s plan to hold extraordinary general shareholders meetings at several state-owned enterprises (SOEs) might result in large management shake-ups that could in turn affect performance. State-owned lenders Bank Mandiri, Bank Negara Indonesia (BNI), Bank Rakyat Indonesia (BRI) and Bank Tabungan Negara (BTN) and state gas company PT Perusahaan Gas Negara (PGN) are scheduled to hold extraordinary general meetings at the end of this month. Of the five companies, only PGN and Bank Mandiri have disclosed the scheduled dates for their meetings. According to information posted by PGN on the Indonesia Stock Exchange (IDX) website, PGN is scheduled to hold its meeting on Aug. 30, during which the firm’s shareholder will discuss a possible management shake-up. Meanwhile, Bank Mandiri is slated to hold its meeting on Aug. 28, the company...