Danantara Saves Rp 8.2 Trillion by Scrapping Bonuses for State Firm Commissioners
Jakarta. Indonesia’s sovereign wealth fund Danantara has saved Rp 8.2 trillion ($494 million) by eliminating bonus payments for commissioners in state-owned enterprises (SOEs), Chief Investment Officer Pandu Sjahrir said on Thursday.
The savings will be redirected to support investment programs and enhance the global competitiveness of Indonesia’s SOEs.
“At Danantara, we managed to save around Rp 8.2 trillion by removing the commissioner bonus scheme,” Pandu said in Jakarta.
He explained that the efficiency initiative is part of Danantara’s broader strategy to transform state-owned enterprises into internationally competitive players.
“We want every Danantara company to aim higher -- to compete globally and become world-class champions. Currently, only two Indonesian SOEs are listed among the Fortune Global 500,” Pandu noted.
Danantara, which oversees Indonesia’s key SOEs, has been tasked with streamlining operations, improving governance, and fostering innovation across sectors such as finance, energy, and infrastructure.
Pandu said the company aims for Bank Mandiri to emerge as a globally competitive financial institution and for energy company Pertamina to strengthen its position among the world’s leading oil and gas companies.
“This transformation is essential. If we don’t change ourselves, the market will change us,” he added.
The announcement follows President Prabowo Subianto’s directive to reduce the number of SOEs and their subsidiaries from roughly 1,000 to just 200. The consolidation aims to ensure Indonesia’s state-owned companies operate under international business standards, with improved corporate governance, financial management, and expansion strategies.
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