Jasa Marga Independent Commissioner Seppalga Ahmad Transferred to Danareksa

Regulatory Compliance Drives Change in Corporate Governance

PT Jasa Marga (Persero) Tbk (JSMR), a major state-owned enterprise in Indonesia's infrastructure sector, has announced the resignation of its independent commissioner, Seppalga Ahmad. The resignation follows Ahmad's appointment as Independent Commissioner at PT Danareksa (Persero), another prominent state-owned enterprise.

Legal Framework and Corporate Governance

The change in Jasa Marga's board composition is driven by regulatory requirements. Indonesian law prohibits individuals from holding multiple directorships in state-owned enterprises (BUMN). Specifically, Law No. 19/2003 on State-Owned Enterprises, as amended by Law No. 16/2025, mandates that BUMN directors and commissioners cannot hold similar positions in other BUMN entities. Additionally, the Otoritas Jasa Keuangan (OJK) regulations on corporate governance for public companies reinforce these restrictions.

Impact on Corporate Structure

The resignation of Seppalga Ahmad from Jasa Marga's board reflects the company's commitment to maintaining compliance with both BUMN regulations and OJK guidelines. As a listed company (JSMR), Jasa Marga must adhere to these regulatory frameworks to ensure transparency and good corporate governance. The transfer to Danareksa maintains Ahmad's role in corporate governance within the BUMN sector while complying with anti-multiple directorship rules.

Significance for State-Owned Enterprises

This development highlights the ongoing efforts to strengthen corporate governance practices among Indonesian state-owned enterprises. The regulatory framework aims to prevent conflicts of interest and ensure that BUMN directors and commissioners can focus on their responsibilities without divided loyalties. The transfer demonstrates how regulatory compliance can lead to restructuring within the BUMN sector, potentially enhancing overall governance standards.