Danantara Building
State energy company PT Pertamina believes that the shares transfer to PT Daya Anagata Nusantara (Danantara) will increase dividends paid to the government and consequently all Pertamina investment costs will be the responsibility of Danantara.
It is stipulated in Law No. 1/2025 on State-Owned Enterprises (SOEs) that 99 percent of SOEs shares would be owned by Danantara, while the remaining 1 percent would be in the hands of the government through the Ministry of SOEs.
Pertamina Vice President for Corporate Communication, Fadjar Santoso, said that the transfer of shares to Danantara will increase the company's capitalization and investment, so that Pertamina's performance can grow even bigger.
"With the total capitalization, investment, and dividends after the stock infusion process to Danantara, Pertamina's performance can be capitalized even more," Fadjar said on Tuesday, February 25, 2025.
Seven state-owned enterprises will go through the process of injecting shares into Danantara including: State energy company PT Pertamina; State power utility company PT PLN; State-owned mining holding company MIND ID; PT Bank Rakyat Indonesia (BBRI); PT Bank Negara Indonesia (BBNI); PT Bank Mandiri (BMRI); and State telecommunication company PT Telkom Indonesia.
Danantara targets the share transfer process to be completed by the end of March 2025. Fadjar emphasized that Pertamina has coordinated with Danantara to meet this target.
"So far, we have continued to coordinate with Danantara. Therefore, the target schedule for the inbreng (transfer of shares) of Pertamina shares will be in accordance with government directives," he said.
Investment expectations
Bambang Brodjonegoro, Special Advisor to the President for Economic Affairs, previously hoped that through Danantara he could seek more aggressive investment to realize various national development programs.
"Danantara is expected to be able to leverage or use loans from investors as capital so that it can invest more aggressively in projects in Indonesia," Bambang said.
He cited that many foreign investors are interested in investing in Indonesia. However, they choose a business-to-business (B2B) cooperation scheme rather than partnering directly with the government.
He expressed hope that Danantara can play a role as a foreign investment partner in Indonesia, such as the Indonesia Investment Authority (INA).
"INA has partnered with pension funds from Canada and the Netherlands to invest in several toll road sections. That is an alternative that must be considered," Bambang said.
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