Prabowo warns former BUMN bosses of prosecution

Indonesian President Prabowo Subianto on Monday issued a stern warning to former executives of state-owned enterprises (BUMN), signaling potential legal action by the Attorney General’s Office over past governance and asset management practices he described as “schemes.”

President Prabowo Subianto delivers remarks at a national coordination meeting in Jakarta on Feb. 2, outlining Danantara reforms and warning former BUMN executives of potential legal scrutiny. Photo: YouTube/ Sekretariat Presiden

JAKARTA —  The remarks came as Prabowo outlined progress in consolidating the country’s economic power under Danantara, Indonesia’s sovereign wealth fund, which now oversees combined assets valued at an estimated US$1.04 trillion.

Indonesia has in recent years faced scrutiny over governance standards in several state-owned enterprises, prompting calls for tighter oversight and structural consolidation.

“Previously, these were fragmented into 1,040 companies. Imagine — who can manage 1,000 companies? This was a scheme, I say,” Prabowo said in Bogor on Monday (Feb.2).

The President stressed that past BUMN leaders must be held accountable for the performance and management of those entities. In a firm tone, he warned former executives to be prepared for possible legal processes.

“Former BUMN leaders must be held responsible. Don’t take it easy — be ready to be summoned by the prosecutor’s office,” Prabowo said.

He also dismissed critics who have characterized his anti-corruption and governance reform agenda as mere rhetoric. Prabowo insisted that his administration is prepared to follow through with enforcement actions where necessary.

“They mock Prabowo, saying he only talks on the podium. Oh really? Just wait for your summons. Do not challenge me,” he added.

Under Prabowo’s leadership, Indonesia has shifted its emphasis from seeking external investment toward maximizing domestically controlled economic strength. The establishment of Danantara is intended to unify previously fragmented state-owned enterprises under a more centralized, efficient, and transparent management structure.

The President said the reforms are aimed at safeguarding public assets and ensuring that state enterprises operate for the benefit of the Indonesian people, reiterating that justice and economic reform remain central to his administration’s priorities.