The formation of Danantara in BUMN governance transformation is seen as having major implications for public accountability. Legal experts stress that BUMN's public character must be maintained despite growing corporatization. The government defends state asset management by new BUMNs without questioning competition with private firms.
The transformation of state-owned enterprise (BUMN) governance through the formation of Danantara is assessed to have significant consequences for the legal position and public accountability of BUMNs. Fathudin Kalimas, Director of Research and Studies at Poskolegnas UIN Syarif Hidayatullah, stated this in his doctoral research presentation at the Faculty of Law, University of Indonesia, on Tuesday, February 10, 2026.
"Post-Danantara, the spirit of BUMN management is indeed increasingly corporative. However, constitutionally, the public character of BUMN cannot be set aside," said Fathudin. He emphasized that BUMN Persero occupies a unique space, demanded to be efficient and profitable while carrying out the mandate of public service. "BUMN Persero cannot be understood merely as an entity with private logic, but also contains an inherent public character that cannot be removed," he added.
Fathudin reminded that the Constitutional Court through Decision Number 48/PUU-XI/2013 has affirmed that BUMNs cannot be treated entirely as pure private entities. A study of State Administrative Court (PTUN) decisions from 2010-2025 shows varied judicial interpretations of BUMN's public functions. "The crucial issue is not the legal entity status of BUMN, but the functions and sources of authority exercised. When BUMN officials exercise public authority, for example in public service or PSO assignments, those decisions are normatively relevant for review in PTUN," stated Fathudin.
Meanwhile, State Secretary Minister Prasetyo Hadi explained the reasons for forming new BUMNs to manage seized state lands, such as palm plantations and mines, confiscated by the Forest Area Enforcement Task Force (Satgas PKH). "What's wrong with that? It's the same. Many economic activities where the state or government, represented by institutions like BUMNs, also enter private sectors. No problem," he said when met at Gambir Station, Jakarta, on the same day.
For instance, PT Agrinas Palma Nusantara has managed 1.7 hectares of state palm plantations since January 16, 2026. The Martabe Gold Mine in North Sumatra, previously managed by PT Agincourt Resources, will be taken over by Perminas according to Danantara COO Dony Oskaria's statement on January 28, 2026. Some parties question the transfer of these assets to new BUMNs, but Prasetyo affirmed that the government supports both private sector and BUMNs without conflict.
