How is the continuation of Danantara News?

What can you learn from this article?

1. How is the legal basis discussed?
2. Has the legal basis been approved?
3. What did Minister of State-Owned Enterprises Erick Thohir say about Danantara?
4. Who is on the Danantara leadership exchange?

1. How is the legal basis discussed?

The government and the House of Representatives have agreed to continue discussions on the Draft Law (RUU) concerning the Third Amendment to Law Number 19 of 2003 on State-Owned Enterprises (BUMN) in the agenda of the Level II Plenary Meeting of the House of Representatives of the Republic of Indonesia, which is scheduled to take place on Tuesday (4/2/2025).

The decision was agreed upon by all factions of Commission VI of the House of Representatives in the Level I Working Meeting of Commission VI of the House of Representatives of the Republic of Indonesia at the Parliament Complex, Senayan, Jakarta, Saturday (1/2/2025).

In addition to being attended by the Deputy Speaker of the House of Representatives Sufmi Dasco Ahmad, this event was also attended by the Minister of State Secretary Prasetyo Hadi, the Minister of Law Supratman Andi Agtas, the Deputy Minister of Finance Thomas Djiwandono, and the Deputy Minister of State-Owned Enterprises Kartika Wirjoatmodjo.

In front of the members of the council, Supratman conveyed that there are several key points in the State-Owned Enterprises Bill. The main point is related to the establishment and formation of the Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara) in order to optimize the management of state-owned enterprise dividends.

"The BUMN Bill will accommodate the formation of Danantara, whose role will be vital in optimizing investment and managing BUMN dividends," he said.

Based on Kompas records, the government's initial plan was to make government regulations (PP) and presidential regulations (perpres) the legal basis for the establishment of BPI Danantara. Both draft regulations have also been submitted to the Minister of State Secretary.

However, this legal basis has the potential to cause confusion considering that state-owned enterprises (BUMN) are institutions established based on law (UU). In the legal hierarchy, both government regulations (PP) and presidential regulations (perpres) are below the law (UU). As long as BPI Danantara does not have legal status equivalent to that of state-owned enterprises (BUMN), the objective of establishing Danantara as a superholding of state-owned enterprises will be difficult to achieve.

2. Has the legal basis been approved?

The Draft Law on the Third Amendment to Law Number 19 of 2003 concerning State-Owned Enterprises has been ratified into law. One of the contents of the draft is the implementation of regulations related to the Investment Management Agency of Daya Anagata Nusantara, which is expected to become a catalyst for new economic growth in Indonesia.

The ratification took place at a plenary meeting of the Indonesian House of Representatives in Jakarta, Tuesday (4/2/2025). The meeting was led by Deputy Speaker of the Indonesian House of Representatives Sufmi Dasco and attended by members of the Indonesian House of Representatives from various commissions, as well as Minister of State-Owned Enterprises Erick Thohir, Minister of State Secretary Prasetyo Hadi, and Minister of Finance Sri Mulyani.

Chairperson of Commission VI of the Indonesian House of Representatives Anggia Ermarini explained that her party had discussed the third amendment bill to Law Number 19 of 2003 concerning BUMN. Her party had also held a hearing with various parties.

There are 10 points of change in the bill that have been passed by the Indonesian House of Representatives and supported by the executive. One of them is the establishment of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) in improving BUMN governance to be optimal in carrying out tasks and functions to support national economic growth.

3. What did Minister of State-Owned Enterprises Erick Thohir say about Danantara?

Minister of State-Owned Enterprises Erick Thohir in his final opinion at the plenary meeting of the DPR in Jakarta, Tuesday (4/2/2025), stated that State-Owned Enterprises as strategic state assets have a vital role in the country's economic development so they need to transform into efficient, professional, and globally competitive business entities in order to create other leaner entities.

"In the BUMN Bill that has been jointly approved, there is the establishment of BPI Danantara which will manage BUMN both operationally and within it optimize dividend management to help the government achieve the economic growth target of 8 percent," said Erick.

Erick said that the transformation of BUMN with the formation of BPI Danantara is a strategic step towards the golden Indonesia 2045. "For that reason, the government supports the DPR's initiative in making changes to the law," he said.

4. Who is on the Danantara leadership exchange?

In fact, based on the Presidential Decree of the Republic of Indonesia (Keppres) Number 142/P of 2024, President Prabowo Subianto has inaugurated Muliaman Darmansyah Hadad and Kaharuddin Djenod Daeng Manyambeang as the Head and Deputy Head of BPI Danantara. The inauguration was held at the State Palace, Jakarta, on Tuesday (22/10/2024).

Although it already has a head and deputy head, the operations of BPI Danantara still have to be delayed. The issue of legal framework is one of the main reasons that the government has yet to officially inaugurate Danantara.

This is because Danantara requires a legal umbrella at the level of a law (UU) to be able to manage BUMN assets and investments without bureaucratic obstacles.

While the public is waiting for the President to ratify the third amendment to Law Number 19 of 2003 concerning State-Owned Enterprises in the state gazette, rumors are circulating that the Minister of Investment/Head of the Investment Coordinating Board Rosan Perkasa Roeslani will also lead the Danantara Investment Management Agency (BPI).

A Kompas source in the DPR who refused to be named said that Rosan Roeslani will fill the BPI Danantara structure. However, for certainty about Rosan's position between Muliaman and Kaharuddin, the public is asked to wait for the issuance of the PP which will later become the supporting regulation for Danantara's operations.

Prior to serving as Minister of Investment/Head of BKPM, Rosan served as Deputy Minister of SOEs (July 17-October 24, 2023), Indonesian Ambassador to the United States (2021-2023), and Chairman of the Indonesian Chamber of Commerce and Industry (2015-2021).

There is also the name Pandu Sjahrir who entered the Stock Exchange. He is known as a professional in the energy sector by serving as an executive at PT Toba Bara Sejahtera Tbk. Before joining PT Toba, Pandu had a career as a senior analyst specializing in the energy and mining sector at Matlin & Patterson from 2007-2010.

Pandu is the nephew of the Chairman of the National Economic Council and Special Advisor to the President for Investment Luhut Binsar Pandjaitan. He was also recorded as having been Deputy Treasurer of the Prabowo-Gibran National Campaign Team (TKN).