Luhut's Nephew Becomes BEI Commissioner, Observer: Old Patterns Already Frightening

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The General Meeting of Shareholders (GMS) of the Indonesia Stock Exchange (BEI) has inaugurated the list of commissioners for the 2020-2023 period. Of the five names that were inaugurated, one of them was Pandu Patria Sjahrir who was the nephew of the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan.

Executive Director of Indonesia Political Review, Ujang Komarudin, said that the placement of families as important government officials or state-owned enterprises (BUMN) is not a new thing and often happens.

"That is an old pattern that has prevailed in the government which is still being perpetuated," said Ujang when contacted, Wednesday, July 1.

"As long as they are in power, while they have a position, while they can manage the country, they will put their brothers in important positions in both the government and BUMN," he added.

Meanwhile, Executive Director of the Indonesia Political Opinion (IPO) Dedi Kurnia Syah assessed that Pandu's existence as Deputy Commissioner of PT BEI could be assumed as a conflict of interest for state officials.

"This is of course a bad tendency even though it is reasoned according to procedures and capacities," he said.

He added that as long as high-ranking officials are unable to protect themselves from the power of certain families or groups, this country will enter into the vortex of the oligarchy.

PT BEI in the Annual General Meeting of Shareholders (AGMS) for 2019 appointed Pandu Patria Sjahrir who currently serves as the Finance Director of PT Toba Bara Sejahtera (TOBA) and serves as Managing Partner at Indies Capital Partner, as well as General Partner at Agaeti Capital Venture as Commissioner.

Apart from Pandu, this meeting also stipulated other names such as John A Prasetio as the President Commissioner of PT BEI and Mohammad Noor Rachman Soejoeti, Heru Handayanto, Karman Pamurahrdjo as Commissioner of PT BEI.

The appointment of members of the Company's Board of Commissioners for the 2020-2023 Service Period refers to the provisions of the Financial Services Authority Regulation Number 58 / POJK.04 / 2016 concerning the Board of Directors and Board of Commissioners of the Stock Exchange (POJK 58).

Meanwhile, the stipulation is in accordance with the OJK letter to the Company Number S-169 / D.04 / 2020 concerning Submission of the List of Candidates for the Chosen Board of Commissioners of PT Bursa Efek Indonesia for the term of office 2020 to 2023.