Amid Rumours of Buying Ride-Hailing App Shares, Danantara Still Evaluating Investment Opportunities

Danantara Indonesia states that it is still evaluating investment opportunities in the online ride-hailing app sector, amid statements from the DPR that the government has entered as a shareholder. Danantara emphasises that all investment opportunities will be assessed rigorously based on strategic suitability, risk profile, and the creation of long-term value for Indonesia. This statement comes after Deputy Speaker of the Indonesian DPR, Sufmi Dasco Ahmad, mentioned that the government has purchased a portion of shares in a ride-hailing app company through Danantara. According to Dasco, this step could open up space for the government to participate in influencing policies, including the amount of commission cuts that have long been a complaint from ride-hailing drivers. In previous notes, Danantara was indeed said to have received an offer for golden shares or golden shares in the merger process between GoTo and Grab. This scheme allows the government to have special rights even if it only holds a minority stake. Meanwhile, the government already has exposure in GoTo through Telkomsel, which holds around 1.99% of the company’s shares. Nevertheless, to date, there has been no detailed explanation regarding which app is in question or the extent of the government’s involvement in the online transportation sector moving forward.