The financial sector will be improved in the future. Many financial instruments are circulating outside, but we don’t have it. The consequence is financial markets in Indonesia will not produce optimal yield and risk management. It is getting complicated by the existence of more than one state-owned banks that are not integrated and also by many asset management companies that supposed to potentially manage a large asset that will be accepted in Indonesia. No wonder the government wants to gather up all its resources in the financial sector and manage it better.
But, why must be Danareksa? If we recalled, Danareksa had several cases, either with IPO Garuda Indonesia Tbk (GIAA) or with an issuer coded SIAP that happened recently.
According to the asset, income, and net profit ratios, it seems clear that Danareksa is not the largest. After public company had been eliminated, state-owned enterprises’ financial sector with the largest asset is Perum Pegadaian, PT Askirindo, Perum Jamkrindo. Even PT PPA has larger asset, equity, and revenue than Danareksa.
The big question is, can Danareksa manage an asset more than 2.000 trillion IDR that will be entrusted to them? Besides, now the markets see that Danareksa is not able to manage an asset worth 3 trillion IDR that they have at the moment.
Moreover, the financial sector requires a higher security and management standard from the other industries, especially in global era and competition like nowadays. It could be felt especially Bank Mandiri which is currently attempting to break through the global markets. The lack of management standard will be one of the obstacles to continue the expansion strategy.
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