Finance Minister Purbaya Optimistic IHSG to Rebound as Investors Understand Export-Focused State-Owned Enterprise's Role
Finance Minister Purbaya Yudhi Sadewa is confident the IHSG will soon rebound after markets understand the positive impact of the establishment of an export-focused state-owned enterprise (BUMN) dedicated to exports, PT Danantara Sumber Daya Indonesia (DSI), operating under the Danantara Investment Authority (BPI Danantara). The main focus is to strengthen export governance for commodities such as palm oil, coal, and ferro alloy.
Purbaya explained that the presence of DSI aims to close the underinvoicing gap that, over the past 34 years, is alleged to have harmed the state by as much as Rp15,400 trillion. Under the new system, corporate revenue would be transparently reflected in financial statements.
“Underinvoicing will be closed with the export body. So the money usually moved by owners should be reflected in their genuine sales now,” he said.
He added that this development will offer a double benefit for companies listed on the stock exchange: “The companies will profit. It should double the profits of those listed on the exchange. So this should raise the valuations of the firms on the bourse.”
The creation of DSI is a follow-up to the Government Regulation on the Governance of Exports of SDA (Natural Resource Commodity) announced by President Prabowo Subianto in his speech at the KEM-PPKF RAPBN 2027. The transformation of DSI will occur in two stages: in the second stage, all proceeds from commodity sales are expected to be returned entirely to the domestic economy, which is hoped to strengthen the stability of the Rupiah and the liquidity of the national capital market. (Z-10)
President Prabowo Subianto has summoned the economy minister to discuss the mechanism of PT Danantara (DSI) as an Export-Focused BUMN and for trade supervision.
IHSG fell to 6,248; Minister Purbaya said the market fears the export-focused BUMN.
Purbaya emphasised that there are no quota policies or restrictions on tax restitution at the tax offices (KPP).
From July 2023 to August–September 2025 there was a slowdown in broad money growth to negative or near-zero levels.
Finance Minister Purbaya Yudhi Sadewa reported the April 2026 budget deficit narrowing to Rp164.4 trillion or 0.64% of GDP.
IHSG opened down 0.32% to 6,296.29 this morning. Read market opening analyses and the sentiment weighing on the index.
He added that the presence of the Speaker of the House, the Financial Services Authority (OJK), and Danantara is aimed at preserving optimism and confidence in Indonesia’s capital market.
Today, most stocks weakened: 197 rose, 495 fell, and 124 were unchanged.
The Indonesian capital market is currently reacting to Bank Indonesia’s latest policy which raised the key policy rate.