Jakarta. Indonesia’s anti-corruption agency has reminded foreign nationals serving as executives at state-owned enterprises that they are required to file asset declarations, saying nationality does not exempt senior executives from the country’s public wealth disclosure rules.
The Corruption Eradication Commission (KPK) issued the clarification on Monday following a meeting with Danantara Indonesia, the country’s sovereign investment agency that oversees state-owned enterprises.
Aminuddin, the KPK’s deputy for prevention and monitoring, said foreign executives occupying top management positions at state-owned companies are classified as state officials under Indonesian law and must submit asset declarations in the same manner as their Indonesian counterparts.
“Foreign nationals who serve as top management at state-owned enterprises are not exempt from the law requiring public officials to report their assets,” Aminuddin told reporters in Jakarta.
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He said the KPK has also provided technical guidance to foreign executives to help them comply with Indonesia’s wealth reporting requirements.
Currently, three foreign nationals hold executive positions at Indonesian state-owned enterprises: Neil Raymond Mills, transformation director at Garuda Indonesia; Balagopal Kunduvara, Garuda Indonesia’s finance and risk management director; and Luke Thomas Mahony, president director of Danantara Sumberdaya Indonesia.
The clarification comes as Danantara expands its role in overseeing Indonesia’s vast portfolio of state-owned assets under the government’s broader effort to improve corporate governance and operational efficiency across state enterprises.
Danantara Chief Operating Officer Dony Oskaria said the agency would closely monitor compliance with the asset disclosure requirement across all state-owned enterprises.
“In principle, we have reached an agreement, and I will personally oversee compliance with asset declaration requirements,” Dony said. “We expect all reports to be submitted on time, and there will be no tolerance for non-compliance.”
He added that wealth disclosure is a legal obligation for all senior executives at state-owned enterprises and a key element in strengthening transparency, integrity, and accountability within Indonesia’s public corporate sector.
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