JAKARTA - Major changes within Indonesia\u2019s State-Owned Enterprises\n(SOEs) are now progressing more rapidly, driven by a massive push for\nbusiness transformation. However, this acceleration is accompanied by\nnew challenges, namely the increasing legal risks amid the enforcement\nof the new Criminal Code (KUHP) and Criminal Procedure Code (KUHAP)\nstarting from 2 January 2026.<\/p>\n
The transformation, which includes restructuring, mergers and\nacquisitions, divestments, and the closure of subsidiaries, requires\ndecision-makers in SOEs to ensure every step remains within strict legal\nboundaries. The need for clear governance and risk mitigation has thus\nbecome even more pressing.<\/p>\n
This was stated by Director of Transformation and Business\nSustainability at PT Pertamina (Persero), Agung Wicaksono, during a\nseminar at the Financial Hall of CIMB Niaga, Jakarta, on Tuesday\n(14\/4\/2026).<\/p>\n
\u201cIn the midst of accelerating SOE transformation, every corporate\naction must move quickly while remaining accountable and compliant with\nlegal corridors,\u201d said Agung in a press statement on Thursday\n(16\/4\/2026).<\/p>\n
\u201cThe new KUHP and KUHAP demand that we strengthen governance, clarify\ndecision-making, and ensure every business step provides sustainable\nadded value, not only for the company but also for the state,\u201d he\ncontinued.<\/p>\n
Director of Strategic Business Development and Portfolio at PT Telkom\nIndonesia, Seno Soemadji, emphasised that portfolio simplification\ncannot be viewed solely from a business perspective.<\/p>\n
\u201cStreamlining is not just about tidying up the portfolio, but\nbuilding a more focused, agile, and valuable corporate foundation,\u201d said\nSeno.<\/p>\n
\u201cFor SOEs, the challenge is to maintain a balance between efficiency,\nsynergy, and legal prudence, so that business transformation can proceed\nfaster without sacrificing governance integrity,\u201d he added.<\/p>\n
This situation indicates that the acceleration of business\ntransformation demands the companies\u2019 ability to read and manage\nincreasingly complex legal risks.<\/p>\n
General Chairman of ILUNI UI and Managing Partner of UMBRA, Pramudya\nA. Oktavinanda, views this momentum as an opportunity to clarify\nmanagement responsibilities while strengthening legal protections for\ncorporate officers.<\/p>\n
\u201cThe SOE transformation momentum needs to be seen as an opportunity\nto strengthen governance, clarify management responsibility boundaries,\nand build healthy legal protections for corporate officers,\u201d he\nsaid.<\/p>\n
\u201cUnder the new legal regime, the business judgment rule, compliance,\nrisk mitigation, and independent business decision-making must form a\nunified whole in every strategic decision,\u201d he continued.<\/p>\n
Through this forum organised by the University of Indonesia Alumni\nAssociation (ILUNI UI) together with the Bandung Institute of Technology\nAlumni Association (IA ITB), stakeholders are encouraged to increase\nlegal awareness among SOE leaders. This is deemed important so that\nbusiness transformation continues rapidly without neglecting aspects of\nprudence.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/acceleration-of-soe-reforms-faces-legal-risks-as-challenge-1776340265", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }