Danantara CEO Confirms Directive to Delay SOE Shareholder Meetings and Corporate Actions
JAKARTA — Danantara CEO Rosan Roeslani confirmed that his organisation has issued a directive to state-owned enterprises (SOEs) that are not publicly listed companies to postpone their General Meetings of Shareholders (RUPS) and other corporate actions.
Rosan, who also serves as Minister of Investment and Head of BKPM, said the measure was taken to ensure that Danantara, as a shareholder, can properly oversee operations.
The instruction is set out in letter S-027/DI-BP/V/2025 concerning Directives Related to the Implementation of RUPS and Corporate Actions of SOEs and SOE Subsidiaries. One of its key points is the postponement of all RUPS of SOEs and their subsidiaries, both direct and indirect, until a comprehensive review and evaluation has been conducted by Danantara and operational holding companies.
"Danantara as a shareholder needs to review operations properly and correctly, and to create greater efficiency. It comes back to value creation, and Danantara also has targets that have been set," Rosan told reporters after meeting President Prabowo Subianto at Merdeka Palace, Jakarta, on Thursday (8 May 2025).
Rosan revealed that President Prabowo reiterated the importance of evaluation and assessment of SOEs under Danantara's management. He also outlined the President's directives regarding the selection of SOE leaders.
"As with selecting the team for Danantara, one can see that they are the best in their fields — people whom the President describes as those who love their country. If they love their country, they would not engage in negative conduct, corruption, or other such practices," said the former Indonesian Ambassador to the United States, as quoted from the official Cabinet Secretariat statement.
Rosan stated that communication and coordination with the President would continue intensively to ensure that every strategic step taken by Danantara aligns with the national development vision. The meeting also discussed Danantara's progress and future investment direction.
Previously, during the Danantara Town Hall on Monday (28 April 2025), President Prabowo Subianto called on all SOE directors to abandon deviant governance practices. The President also requested Danantara's management to evaluate the performance of SOE directors.
"I leave it to the management of BPI Danantara to evaluate all directors — their performance, character, integrity, and achievements. If they are not performing, are idle, engage in improper practices, abuse their authority, or misuse facilities, I want them replaced," said Prabowo in an interview following the event.
In response to this instruction, Rosan issued a directive prohibiting corporate actions through a letter concerning the implementation of RUPS and corporate actions of SOEs and SOE subsidiaries, dated 5 May 2025.
Rosan, who also serves as Minister of Investment and Head of BKPM, said the measure was taken to ensure that Danantara, as a shareholder, can properly oversee operations.
The instruction is set out in letter S-027/DI-BP/V/2025 concerning Directives Related to the Implementation of RUPS and Corporate Actions of SOEs and SOE Subsidiaries. One of its key points is the postponement of all RUPS of SOEs and their subsidiaries, both direct and indirect, until a comprehensive review and evaluation has been conducted by Danantara and operational holding companies.
"Danantara as a shareholder needs to review operations properly and correctly, and to create greater efficiency. It comes back to value creation, and Danantara also has targets that have been set," Rosan told reporters after meeting President Prabowo Subianto at Merdeka Palace, Jakarta, on Thursday (8 May 2025).
Rosan revealed that President Prabowo reiterated the importance of evaluation and assessment of SOEs under Danantara's management. He also outlined the President's directives regarding the selection of SOE leaders.
"As with selecting the team for Danantara, one can see that they are the best in their fields — people whom the President describes as those who love their country. If they love their country, they would not engage in negative conduct, corruption, or other such practices," said the former Indonesian Ambassador to the United States, as quoted from the official Cabinet Secretariat statement.
Rosan stated that communication and coordination with the President would continue intensively to ensure that every strategic step taken by Danantara aligns with the national development vision. The meeting also discussed Danantara's progress and future investment direction.
Previously, during the Danantara Town Hall on Monday (28 April 2025), President Prabowo Subianto called on all SOE directors to abandon deviant governance practices. The President also requested Danantara's management to evaluate the performance of SOE directors.
"I leave it to the management of BPI Danantara to evaluate all directors — their performance, character, integrity, and achievements. If they are not performing, are idle, engage in improper practices, abuse their authority, or misuse facilities, I want them replaced," said Prabowo in an interview following the event.
In response to this instruction, Rosan issued a directive prohibiting corporate actions through a letter concerning the implementation of RUPS and corporate actions of SOEs and SOE subsidiaries, dated 5 May 2025.