Observers Call Prohibition Rules For SOE Commissioners To Accept Tantiem Only Basa-basi

JAKARTA - BUMN observer and NEXT Indonesia Director Herry Gunawan highlighted the rules for providing bonuses and incentives for members of the board of commissioners and directors at state-owned companies and their subsidiaries.

Herry assessed that the reason for improving the company's governance, which was the basis for the issuance of the policy, was just lip service or mere pleasantries.

"The circular is only a gimmick or lips services. Just on the lips," he said in a written statement to VOI, Friday, August 1.

According to Herry, the improvement in SOE governance should start from the roots, for example from the recruitment of the board of commissioners in BUMN. Currently, he said, there are still many deputy ministers who serve as commissioners in BUMN.

In fact, continued Herry, in the 2008 State Ministry Law (and the 2019 and 20025 Constitutional Court Decrees which stated that the Deputy Minister could not be a Commissioner and Public Service Law in 2009 said that the Implementer (Public Official) should not be a Commissioner.

The purpose of the Danantara's decision is said to comply with good corporate governance. If that's what you want, it should start from the recruitment of state-owned administrators, especially the Board of Commissioners. Don't violate the law, such as making Deputy Minister and Echelon I Officials a BUMN Commissioner," he said.

On the other hand, Herry also doubts that the circular issued by Danantara regarding tantiem can be obeyed by all state-owned companies and their subsidiaries. This is because the letter did not come out of the direct instruction of the Ministry of SOEs.

According to Herry, Danantara should have asked SOE Minister Erick Thohir to revoke the SOE Minister Regulation regarding the Board of Directors' income guidelines and the Board of Commissioners in which he discussed tantiem.

"The decision of the Minister of SOEs can only be disallowed by an equal or above decision, not by a Danantara circular. Therefore, don't be surprised in the future, if the Danantara letter is ignored by the BUMN," he said.

Previously reported, the Anagata Nusantara Daya Investment Management Agency (BPI Danantara) banned the board of commissioners of State-Owned Enterprises (BUMN) and its subsidiaries from obtaining bonuses from the company's performance. In addition, it is also not allowed to receive incentives.

The instruction was contained in an official letter numbered S-063/DI-BP/VII/2025 concerning the Provision of Tantiem, Incentives, and/or Income in Other Forms to the Board of Directors and Board of Commissioners of SOEs and BUMN Subsidiaries.

The letter was signed by Danantara Indonesia Chief Executive Officer (CEO) Rosan Roeslani dated July 30, 2025.

"Members of the BUMN board of commissioners and BUMN subsidiaries are not allowed to get bonuses, incentives in terms of performance incentives, special incentives, and/or long-term incentives and/or income in other forms associated with the Company's performance," reads the letter received by VOI, Friday, August 1.

In addition to regulating the provision of bonuses and incentives for the board of commissioners, Danantara also provides the latest rules for the board of directors of SOEs.

Based on the letter, members of the SOE board of directors and their subsidiaries can still receive bonuses and incentives from the company's performance.

However, the provision of bonuses and incentives in the form of performance incentives, special incentives, and or long-term incentives must be based on financial reports that are actually the result of the company's operations and reflect on sustainable business activities.

This incentive should not be calculated from non-operational activities. Such as asset revaluation gains, asset sales, or transactions for another time that are not repeated.