OJK Responds to State-Owned Enterprise Share Buyback Plans
The Financial Services Authority (OJK) has responded to plans for share buybacks by State-Owned Enterprises (BUMN). Hasan Fawzi, Chief Executive of Capital Market, Financial Derivatives, and Carbon Exchange Supervision at OJK, stated that the institution welcomes the attention and support from various stakeholders for the development of Indonesia’s capital market.
“We note that many publicly listed companies have strong fundamentals and well-maintained performance, supported by good operational performance, healthy financial positions, and positive business prospects,” Hasan said in a written statement, quoted on Thursday, 11 June 2026. According to him, under current market pressures, investors will make assessments based on reliable information, fundamental conditions, and current share price valuations.
The OJK has taken several policy measures to maintain market stability, including providing flexibility for share buybacks without approval from the General Meeting of Shareholders (RUPS), with a maximum amount of 20 percent of paid-up capital. Hasan mentioned that this policy provides room for issuers to demonstrate confidence in their company’s performance and fundamentals, while helping to maintain share price stability.
The OJK recorded that from March 2025 to 18 May 2026, there were 106 disclosures of information regarding buybacks without a RUPS from 65 issuers, with a total buyback fund allocation of Rp 65.34 trillion. Of the 65 issuers, 64 have carried out buybacks worth Rp 17.12 trillion, or 30.25 percent. “Furthermore, there are currently 7 issuers still within the buyback period without a RUPS, with an estimated value of Rp 5.76 trillion,” Hasan stated.
The share buyback plan emerged after Deputy Speaker of the House of Representatives (DPR) Sufmi Dasco Ahmad held a meeting with the government and representatives from the Association of State-Owned Banks (Himbara), the National Banks Association (Perbanas), Danantara, and the Indonesia Investment Authority to discuss the performance of banking shares.
Deputy Speaker Sufmi Dasco Ahmad said that based on the discussion, the current performance of the banking sector is in good condition. “We also discussed earlier with Mr Dony Oskaria from Danantara, BPJS Ketenagakerjaan, and Taspen regarding the market situation and possibly shares that are currently good and can then be bought back,” he said during a press conference at the DPR Building on Tuesday, 9 June 2026.