Jakarta, Aug. 7 -- Danantara estimates that state-owned enterprises (SOEs) could save up to Rp8 trillion (approx. US$490 million) annually following the implementation of Danantara's latest policy on tantiem or performance-based bonuses, for SOE board commissioners.

In July, Danantara issued a Circular Letter which, among other points, stipulates that SOE board commissioners and those of their subsidiaries are no longer allowed to receive bonuses, incentives, and/or any other form of compensation tied to company performance.

"The estimated savings, based on conservative calculations, could reach around Rp8 trillion per year. Hence, we have conducted a comprehensive review," Danantara CEO Rosan Perkasa Roeslani told reporters at the Pres...