Executive Summary

Key insights and market outlook

PT Danantara Asset Management (DAM) has transferred its Series B shares in various state-owned enterprises (SOEs) to Badan Pengaturan (BP) BUMN as mandated by the new Law No. 16/2025 ¹

². The transfer involves 13 SOE issuers across multiple sectors including infrastructure, finance, and construction. This move is expected to be a positive catalyst for SOE stocks as it clarifies ownership structures and potentially enhances governance.

Full Analysis

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Deep Dive Analysis

Danantara Transfers SOE Shares to BP BUMN: Market Implications

Regulatory Background

The recent transfer of Series B shares from PT Danantara Asset Management (DAM) to Badan Pengaturan (BP) BUMN is a significant development in Indonesia's state-owned enterprise landscape. This move is mandated by Law No. 16/2025, which amends the existing BUMN law ¹

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Affected SOEs and Share Transfer Details

The share transfer involves 13 major SOEs across various sectors:

Construction: PT Wijaya Karya (WIKA), PT Waskita Karya (WSKT), PT Adhi Karya (ADHI), PT PP (PTPP)
Infrastructure: PT Jasa Marga (JSMR)
Transportation: PT Garuda Indonesia (GIAA)
Manufacturing: PT Krakatau Steel (KRAS)

Specific transfer details include:

WIKA: 362.917.027 shares (0.91% voting rights)
WSKT: 217.056.333 shares (0.75% voting rights)

Market Impact and Analyst Views

This restructuring is expected to have several positive implications:

Enhanced governance through clearer regulatory oversight
Potential stock performance boost as ownership structure becomes more transparent
Improved investor confidence in SOE management
Better alignment with government policies through BP BUMN regulation