Construction SOEs Reshuffle Won’t Lead to Immediate Rebound, Analysts Say

Analysts predict that the ongoing reshuffle in construction SOEs’ management would not be an instant solution to revive the companies’ performance.

Dionisio Damara

21 Mei 2024 - 16.23
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Construction SOEs Reshuffle Won’t Lead to Immediate Rebound, Analysts Say

BUMN Minister Erick Thohir revealed plans for the BUMN Karya merger at the BUMN Ministry Office, Jakarta, Tuesday (1/8/2023) - BUSINESS/Afiffah Rahmah Nurdifa

Bisnis, JAKARTA —The State-Owned Enterprises (SOEs) Ministry’s mandate to reshuffle the management of construction SOEs this mid-year is expected to have minimal impact on the recovery of the companies’ financial and stock performances.

Several SOEs and their subsidiaries have undergone management restructuring through their annual shareholders meeting earlier this year.

Most recently, a subsidiary of PT Adhi Karya, PT Adhi Commuter Properti (ADCP), appointed two new directors and one new commissioner. ADCP held its shareholders meeting at Hotel Grandhika Iskandarsyah, Jakarta, on Friday (17/5/2024).

During the meeting, Farid Budiyanto, who previously held the position of Adhi Karya’s corporate secretary, was appointed as marketing and production director replacing Rozi Sparta. Shareholders also appointed Achmad Wahid Abdullah as finance, risk management, and human capital director, a position formerly held by Mochamad Yusuf. On the board of commissioners side, Achmad Affandi was appointed as a new commissioner replacing Tjatur Waskito Putro.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.