The Government has issued Regulation No. 38 of 2026 (“ Regulation 38/2026 ”) on Management of State-Owned Enterprises (Badan Usaha Milik Negara –“ BUMN ”). Upon entering into force, Regulation 38/2026 simultaneously repealed and replaced the following legal framework: [1]
New Framework for BUMN Management: Separation of the Functions of BP BUMN and BPI Danantara and the Cut-Loss Mechanism for Directors
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