IDX: Transfer of SOE Assets to Danantara Won’t Affect Stock Performance

The Indonesia Stock Exchange (IDX) has assured that the transfer of assets from several State-Owned Enterprises (SOEs) to the Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara) will not negatively impact the performance of SOE-related stocks in the capital market.

BPI Danantara aims to incorporate all SOE assets into its management by March 2025. Several state-owned enterprises, including those in the food and aviation sectors, are expected to be under Danantara’s management by that time.

Currently, some of the SOEs listed on IDX include Bank Mandiri (BMRI), Bank Rakyat Indonesia (BBRI), and Bank Negara Indonesia (BBNI).

IDX Awaits Coordination with OJK

IDX’s Director of Development, Jeffrey Hendrik, stated that the exchange is still waiting and coordinating with the Financial Services Authority (OJK) regarding the asset transfer and its potential impact on SOE-related stocks in the market.

"We are monitoring the developments and will coordinate with OJK accordingly," Jeffrey said at a press conference at the IDX Building in Jakarta on Tuesday (February 25, 2025).

However, Jeffrey remains confident that the transfer of SOE assets will not disrupt stock stability in the market. Instead, he hopes that BPI Danantara’s presence will have a positive impact on investors, particularly retail investors.

"Our hope is that this will create a positive effect for investors, especially retail investors," he explained.

SOE Corporate Actions Will Be Disclosed via IDX Information System

Jeffrey further clarified that IDX has no immediate plans for a special meeting regarding the asset transfer. He emphasized that any corporate actions involving SOE issuers under Danantara will be reported through the stock exchange’s public disclosure system, in accordance with existing regulations.

"No meeting is planned at this time. I believe the existing mechanism is in place. Any corporate actions or public disclosures will follow the established procedures," he concluded.

Previously, Danantara COO Dony Oskaria stated that the government aims to transfer all SOE assets to Danantara before the General Meeting of Shareholders (GMS) in March 2025.

"Before the GMS, all SOE assets must be transferred to Danantara. The target is by the end of March," Dony said at the Presidential Palace in Central Jakarta on Monday (February 24, 2025).

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