Friday, July 07, 2017
Issue Number: 513
Draft Bill on BUMN
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Overview Indonesia's State-Owned Enterprises (Badan Usaha Milik Negara – “BUMN”) have a significant role to play in terms of the country’s social welfare and also act as the state’s representatives within the business sector. Unlike private entities, BUMN must take into account the overall contributions which are made to society in addition to any profits which may be generated. This is because BUMNs are established through the use of state assets and are entitled to enjoy certain privileges when engaging in any business, such as being prioritized during project offering auctions and when seeking to obtain shares in any divested private entities within certain sectors, and so on....

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