Danantara appoints former Vale Indonesia boss Luke Thomas Mahony to lead PT Danantara Sumberdaya Indonesia (DSI), the state-owned export entity
Danantara Indonesia has appointed former PT Vale Indonesia Tbk (INCO) director Luke Thomas Mahony as President Director of PT Danantara Sumberdaya Indonesia (DSI). The appointment of the former mining executive is viewed as a government first step to strengthen governance of export of natural resources through a state-owned enterprise (BUMN) dedicated to exports.
Rosan Roeslani, CEO of Danantara, said Luke was chosen due to his track record and experience deemed suitable for the needs of PT DSI. He added that Luke is also said to have been involved in Danantara’s development from the outset.
“So you can see what his track record is; his capabilities are clear, just as we built Danantara from the start,” Roslani said, quoted by Kontan.
Luke previously served as Director of PT Vale Indonesia Tbk (INCO). Rosan confirmed that an official announcement of the full management structure of PT DSI would be made in the near future.
“Yes, we are currently in the stage of strengthening the team. Later we will present the full team,” he said.
In the regulation, export of several strategic commodities must be conducted through a state-owned enterprise designated by the government.
Prabowo said the policy aims to strengthen supervision of export of natural resource commodities while closing loopholes for the leakage of export earnings (DHE) and underpayment of taxes.
“Today, the Government of the Republic of Indonesia I lead issued a Government Regulation on the Governance of Export of Natural Resource Commodities,” Prabowo said at the DPR RI plenary session in Jakarta, on Wednesday, 20 May 2026.
He noted that the scheme has historically allowed some profits to be earned by overseas entities. With the new mechanism, export transactions are expected to be reflected directly in domestic reports of companies.
“So previously the money was essentially played by the owners, because the overseas company has the owner, right? Now it should be reflected directly in their pure domestic sales,” said Purbaya.
“This should, in my view, raise the valuation of the listed companies. So gradually it will rise significantly in my view,” he said.
Nevertheless, the market has responded negatively to the policy. In trading on Thursday (21 May 2026), the Jakarta Composite Index (IHSG) briefly fell to 6,144, down 2.76 percent amid pressure on conglomerate and large-cap stocks.
This article originally appeared on Kontan.co.id under the title “Rosan Tunjuk Luke Thomas Jadi Dirut Danantara Sumberdaya Indonesia”.