Dasco Convenes Himbara CEOs to Discuss Slumping SOE Shares

Deputy Speaker of the House of Representatives, Sufmi Dasco Ahmad, convened the Presidents of State-Owned Banks (Himbara) and several leaders of state financial institutions at the Parliament Complex, Jakarta, on Tuesday. This strategic meeting was organised to discuss measures to improve the share value of State-Owned Enterprises (SOE) which have been impacted by global market dynamics.

Dasco assessed that the current portfolio of SOE shares possesses very strong fundamentals. However, pressure from the global situation has caused these share prices to undergo corrections that do not reflect their intrinsic value.

“We are gathering for coordination, particularly to discuss the package of SOE shares at length,” Dasco stated during the opening of the meeting.

During the discussion, Dasco emphasised that current market conditions present an opportune moment for state-owned enterprises to undertake corporate actions, specifically share buybacks. He noted that such steps are essential to maintain market stability and to send a positive signal to investors that SOE assets remain solid despite global uncertainty.

The meeting was also attended by the State Secretary, Prasetyo Hadi, who accompanied Dasco. Additionally, the COO of Danantara, Donny Oskaria, was present to introduce the Himbara CEOs to the forum. The presence of Danantara is noteworthy, as the institution is projected to become a major investment management agency in Indonesia, tasked with consolidating the nation’s strategic assets.

Intensive coordination between the legislature, the executive, and leaders of state-owned banks is expected to formulate effective strategies to strengthen the position of SOE shares in the capital market in the near future.