Four Packages of IDX Board Candidates Circulate, OJK Breaks Silence
Jakarta, CNBC Indonesia — The latest news regarding the prospective board of directors for the Indonesia Stock Exchange (IDX) for the upcoming 2026-2030 term now includes four packages, namely the Laksono Widodo package, Jeffrey Hendrik package, Iding Pardi package, and Edwin Ridwan package.
However, the Executive Head of Capital Market, Derivatives, and Carbon Exchange Supervision at the Financial Services Authority (OJK), Hasan Fawzi, stated that as of now, no candidate board packages have been registered with the OJK. The deadline for submitting candidate board packages to the OJK is set for no later than 4 May 2026.
“The deadline hasn’t had any submissions yet. 4 May 2026 is the final time for submissions to the OJK. Then it will proceed through the OJK process,” he said when met at the IDX building in Jakarta on Thursday (2/4/2026).
Hasan explained that the cut-off for calculating exchange members’ eligibility in nominating directors is based on data from activities over the past year, namely the period from April 2025 to March 2026.
“The data cut-off was just yesterday. 31 March. So the one-year period data that serves as the reference for eligibility or authority to nominate candidates by exchange members is the data from last April to this March, one year. The data was just from yesterday,” he clarified.
“Now they already know how many percentage of voting rights I have based on transaction values and trading activities,” he continued.
The regulator emphasised that the nomination process should not be done haphazardly without thorough selection.
“Their competence must be capable, their competence must be good. That’s their task as exchange members. Only after it’s mature, a worthy candidate package is formed. We hope that’s what will be submitted to the OJK at that time,” he stated.
Hasan continued that emphasis on integrity is the primary aspect that must be considered by every exchange member (AB) in nominating candidates. The responsibility of ABs in this regard is to ensure the quality of the candidates they support. Exchange members are required to conduct research and review aspects of capability, capacity, competence, and integrity of prospective directors.
Based on OJK regulations, IDX board packages must be supported by at least 10 ABs. These requirements refer to a combination of several indicators such as transaction values, trading frequency, and the share of exchange member activities.
“10 ABs. There’s a percentage from the value, then from transactions, from frequency. Well, that combination will all be read in the provisions later. More or less, it’s already regulated in detail, eligibility or which exchange members and what portion will be calculated to nominate a package, but yes,” Hasan said at the IDX building in Jakarta on Wednesday (1/4/2026).
As reported in the mass media, the first IDX candidate board package consists of Iding Pardi, Zaki Mubarak, Yulianto Aji Sadono, Umi Kulsum, Ahmad Subagja, Yohannes Liauw, and Andre Tjahjamuljo.
The second package includes Jeffrey Hendrik, Irvan Susandy, R. Haidir Musa, Irwan Abdalloh, R. M Irwan, and Atep Salyadi Dariah Saputra.
Meanwhile, the third package features Laksono Widodo, Fifi Virgantria, Heru Handayanto, John Tambunan, Donny Arsal, Lidia M. Panjaitan, and Saidu Solihin.
Finally, the fourth package comprises Edwin Ridwan, Feb Sumandar, Gurasa Siagian, Suryadi, Freddy Hendradjaja, Aji Sudarmaji, and Yohanes Arts Abimanyu.