Danantara Indonesia and BEI demutualization

The Indonesian economic outlook for the second half of 2026 suggests potential market strengthening as external pressures subside and the rupiah gains strength. Analysts note that while credit growth in the banking sector remains robust, liquidity is expected to stay tight.

A significant development involves the demutualization of the Indonesia Stock Exchange (BEI). Under the P2SK Law, ownership of the exchange may be shared among the Ministry of Finance, Bank Indonesia, and Danantara Indonesia. Danantara’s Chief Investment Officer, Pandu Sjahrir, confirmed discussions with the Financial Services Authority (OJK) regarding this joint ownership. Economists suggest that Danantara’s management could facilitate more state-owned enterprise IPOs.

As of September 2026, Danantara CEO Rosan Roeslani stated that discussions regarding specific shareholding portions are ongoing. The OJK is preparing regulations for the demutualization process, with current concepts proposing a 5 percent ownership limit for individual parties, though strategic shareholders like Danantara may be permitted to exceed this limit following approval processes.

Furthering these structural reforms, the draft regulation for the BEI demutualization is currently undergoing harmonization at the Ministry of Law, with an expected issuance in September 2026. In a related effort to bolster capital market integrity, the Financial Transaction Reports and Analysis Center (PPATK) and PT Kustodian Sentral Efek Indonesia (KSEI) have signed a Memorandum of Understanding to enhance coordination and combat money laundering and terrorism financing.