Seminar on Law No. 1 of 2025 concerning the Third Amendment to Law No. 19 of 2003 on State-Owned Enterprises (Law 1/2025)
As part of our ongoing commitment to enhancing the understanding of regulatory changes affecting State-Owned Enterprises (SOEs), our Managing Partner, Pramudya A. Oktavinanda, was honored to serve as a speaker at a seminar hosted by PT Bank Negara Indonesia (Persero) Tbk (BNI) on Law No. 1 of 2025 concerning the Third Amendment to Law No. 19 of 2003 on SOEs (Law 1/2025).
Over 100 participants from Himpunan Bank Milik Negara (Himbara)—comprising Indonesia’s four largest state-owned banks: BNI, PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, and PT Bank Tabungan Negara (Persero) Tbk, as well as PT Bank Syariah Indonesia Tbk, attended the session.
Supported by our Counsel, Ajeng Ayuningtyas, and our Associate, Nahda Anisa Rahma, Pramudya led a comprehensive discussion on several pivotal aspects of Law 1/2025. He highlighted the evolution of the business judgment rule paradigm for SOEs, the redefinition of state losses and its implications on SOE accountability, as well as the process of the in-kind contribution of Himbara’s shares by the Government of Indonesia to the operational holding under BPI Danantara.
The discussion sparked a high level of engagement, with participants actively raising insightful questions and sharing perspectives on the practical implementation of the Law 1/2025. The lively exchange reflected the urgency and importance of ensuring a clear understanding of the revised regulatory framework as SOEs prepare to navigate this new chapter in corporate governance.
At UMBRA, we take pride in being at the forefront of strategic legal advisory for SOEs and other key stakeholders. With our deep legal expertise and nuanced grasp of business realities, we remain committed to supporting our clients in achieving robust governance and regulatory compliance amidst Indonesia’s evolving legal landscape.
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