Trend Asia Reveals Alleged Business Relations of Airlangga Hartarto's Children Behind Indonesia–US MoU
Jakarta – Research institute Trend Asia has discovered alleged connections between the family of Coordinating Minister for Economic Affairs Airlangga Hartarto and several companies that signed memoranda of understanding (MoU) in Indonesia–US trade cooperation.
The findings emerged from investigations into company ownership as part of agreements related to the Agreement on Reciprocal Trade (ART) between Indonesia and the United States.
Trend Asia’s Research and Investigation Manager Zakki Amali explained that the organisation conducted analysis of the ultimate beneficial owner (UBO) of companies by examining official government documents, data from the Ministry of Law, and corporate documents related to MoU-signing companies.
“The ART itself has been scrutinised for being perceived as unbalanced and potentially compromising national sovereignty. We are also concerned about advantages gained by certain parties, including Minister Airlangga as the lead negotiator,” Zakki told reporters at the Jakarta State Administrative Court in East Jakarta on Wednesday (11/3/2026).
In its analysis, Trend Asia identified 11 business MoUs between Indonesian and American companies signed one day before the ART trade agreement. Of these, seven agreements were said to have connections to Airlangga through family relations, employment history, or past business relationships.
One prominent finding concerns PT Galang Bumi Industri (GBI), an industrial zone that signed three MoUs with American companies in the semiconductor sector and free trade zones.
Trend Asia discovered that Airlangga Hartarto’s children, Ravindra Airlangga and Dinesvara Airlangga, are registered as Principal Commissioners at the company. Both are also said to hold approximately 30 per cent indirect share ownership through PT Dravara Investama Internasional.
Zakki emphasised that all findings were obtained from verifiable official documents. According to him, the data demonstrates a noteworthy relationship between trade policy and specific business interests.
“The documents we used are official government and corporate documents. The information is confirmed through these documents, so it is not merely an assumption but based on legally available data,” he stated.
Beyond the technology sector, several analysed MoUs also covered energy, textiles, and agriculture. These agreements form part of Indonesia–US business cooperation worth approximately 38.4 billion US dollars in total value.
According to Zakki, various clauses in these trade agreements potentially carry broad implications for Indonesian society. He believes that several policies emerging from the agreement warrant critical examination.
“The ART is laden with potential impacts for Indonesian society, for instance regarding personal data transfers to the US, bioethanol imports, and agricultural commodity imports that could affect food security,” he said.
The eleven Indonesia–US business MoUs analysed by Trend Asia are:
Critical Mineral – Ministry of Investment and Freeport-McMoRan with Freeport Indonesia
Oilfield Recovery – Pertamina and Halliburton
Maize Agriculture – Cargill Indonesia and Cargill Inc
Cotton – Busana Apparel Group and U.S. National Cotton Council
Cotton – PT Daehan Global and U.S. National Cotton Council
Shredded Worn Clothing – AGTI and PT Pan Brothers with Ravel
Furniture – ASMINDO and Bingaman & Son Lumber
Semiconductors – PT Galang Bumi Industri and Essence
Semiconductors – PT Galang Bumi Industri and Tynergy Technology Group
Transnational Free Trade Zone – PT Galang Bumi Industri and Solanna Group LLC
Wood Product – HIMKI and American Hardwood Export Council
Trend Asia stated that these findings constitute one reason the organisation opposes the ART trade agreement. The group also called on the government to clarify potential conflicts of interest that may have emerged during negotiations and implementation of the cooperation.