Danantara to Increase Its Stakes in State-Owned Companies

Jakarta (ANTARA) – Dony Oskaria, Head of the State-Owned Enterprises Agency (BP BUMN) and Chief Operating Officer of Danantara Indonesia, said Danantara plans to increase its shareholdings in state-owned companies listed on the stock exchange.

He said priority would be given to shares in companies considered to have sound fundamentals. Danantara Investment will seek opportunities to increase its ownership of state-owned enterprises amid developments in Indonesia’s capital market.

“If they’re good, we’ll buy them, especially shares in state-owned companies, and we’ll increase our holdings. We’ll mainly look at good stocks with strong fundamentals,” Dony said at the Presidential Palace complex in Jakarta on Monday.

He stressed that any increase in shareholdings would take the companies’ fundamental strength into account. However, Dony did not specify which companies were being considered or how much would be allocated to the share purchases.

He said Danantara’s plan to increase its holdings was also part of its efforts to make use of opportunities in the capital market.

Asked about the Jakarta Composite Index (IHSG), which had weakened to below the 5,500 level, Dony said the movement was part of normal market dynamics.

“That’s normal market movement. It will recover gradually. What matters most is that our fundamentals are strong,” he said.

Dony reiterated that Danantara Investment would increase its shareholdings in state-owned companies.