Minister of BUMN Introduces Omnibus Regulation on Good Corporate Governance and Significant Corporate Activities of BUMN

The Minister of State-Owned Enterprises (“ Minister ”) has issued three new regulations in an effort to simplify 45 previous regulations of the Minister. These new regulations are expected to enable State-Owned Enterprises (Badan Usaha Milik Negara– “ BUMN ”) to face global challenges and to ensure that they are not burdened by stagnant regulatory frameworks that shackle and disrupt company performance. [1] The three new regulations, which are collectively known as the BUMN Omnibus Law, break down as follows: [2]