Mirae Asset Sees Demutualisation of IDX as Positive Signal
JAKARTA - Head of Research & Chief Economist at PT Mirae Asset Sekuritas Indonesia, Rully Arya Wisnubroto, believes that the presence of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) as one of the shareholders of PT Bursa Efek Indonesia (BEI) through the bourse’s demutualisation could be a positive signal.
Rully observed that Danantara is staffed by competent and professional individuals in their respective fields.
“Demutualisation will likely place it under Danantara. We actually hope… if I look at Danantara, we should be optimistic. Because it is filled with professional people,” Rully told the media in Jakarta on Tuesday (18/8).
Furthermore, Rully hopes that Danantara will encourage initial public offerings (IPOs) of state-owned enterprises (BUMN) and their subsidiaries.
“Hopefully it will encourage more IPOs. The IPOs selected should also be good ones. I think the composition of Danantara’s management is all professional people,” he explained.
When asked about the potential for BUMN IPOs, Rully emphasised that it is Danantara’s task to select BUMNs with strong performance to list on the exchange. “This is Danantara’s task,” he asserted.
Rully indicated that the delay in publishing the financial report was due to waiting for the completion of financial reporting from companies under Danantara’s umbrella.
“I asked their side, they want all financial reports to be published first, then they (Danantara) can issue theirs. Because 1,000 (companies) is certainly challenging. So, hopefully if it is streamlined, it should be faster,” Rully explained.
Overall, Rully also assessed that Danantara’s investment realisation has been quite good, including leasing and other areas.
“So, they are actually more of an investment company, not only domestically but also abroad. The important thing is to provide the highest return,” he said.
Previously, President Prabowo Subianto proposed streamlining BUMNs to around 300-400 companies, down from 1,074 companies. This move is claimed to save operational and overhead costs of around Rp50 trillion.
“… today we have closed 290 BUMNs. By 31 December 2026, we target to have at most 300 BUMNs, more than 750 BUMNs will be closed. Only the productive ones, only those that create added value for the people will be retained. This may be the largest corporate restructuring in the world,” Prabowo said at the first plenary session of the Indonesian House of Representatives for the 2026-2027 session year and the submission of the 2027 State Budget Bill in Jakarta on Friday (14/8).
Separately, Chief Executive of Capital Market, Derivative Finance and Carbon Exchange Supervision at OJK, Hasan Fawzi, stated that Danantara Indonesia, as a party interested in investing in BEI during the bourse’s demutualisation, has a separate obligation regarding financial reporting.
“That is a separate matter. Of course, efforts to fulfil Danantara’s financial reporting obligations are something different. However, as a party expressing investment interest, approval will certainly be sought through the General Meeting of Shareholders at the Indonesia Stock Exchange,” Hasan explained to the media in Jakarta on Tuesday (30/6).
“Meanwhile, Danantara Indonesia’s 2025 Consolidated Financial Report is still in the process of completion according to the applicable audit stages and will be submitted after the entire audit process is completed in accordance with statutory regulations,” asserted Managing Director of Stakeholders Management and Communications at Danantara Indonesia, Rohan Hafas, in Jakarta on Thursday (2/7).
Currently, the demutualisation process is being finalised in the near term. Once completed, Danantara Indonesia, through its subsidiary PT Danantara Investment Management (DIM), will become a potential investor.