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Jakarta, 23 September 2021

SOE Minister Completes PT PPA's Board of Directors Formation

Jakarta, September  23, 2021 – Minister of State-Owned Enterprises (SOE) Erick Thohir appointed JF Hasudungan as Director of Special Asset Management at PT Perusahaan Pengelola Aset (Persero) (PT PPA/Company). The presence of a new director of PT PPA is in line with the Company’s direction to become a National Asset Management Company (NAMCO).

The appointment of JF Hasudungan was determined through the Decree of the Minister of State-Owned Enterprises Number SK-309/MBU/09/2021 dated September 14, 2021 concerning Dismissal, Changes in Position Nomenclature, Transfer of Tasks, and Appointment of Members of the Board of Directors of the Company (Persero) PT Perusahaan Pengelola Asset determine the new composition of the Board of Directors of PT PPA (Persero).

JF Hasudungan previously served at PT Bank Mandiri (Persero) Tbk since 1991 with his last position as Senior Executive Vice President Special Asset Management. He earned his Master’s degree in Financial Management from the University of North Sumatera in 2005.

President Director of PT PPA Yadi Jaya Ruchandi said, “The presence of JF Hasudungan on the board of directors is a form of support from the Minister of SOEs as shareholder to accomplish PT PPA’s vision as a leading turnaround company in Indonesia and a trusted partner in restructuring, investment, and asset management. PT PPA is now focusing on three business pillars, namely SOEs restructuring, banking Non-Performing Loans (NPLs) management, as well as the innovative and effective solutions of Special Situations Fund (SSF).”

The composition of the Board of Commissioners and Board of Directors of PT PPA since September 14, 2021 is as follows:

President Commissioner concurrently Independent Commissioner: Krisna Wijaya
Commissioner: Marwanto Harjowiryono

President Director: Yadi Jaya Ruchandi
Director of Investment 1 and Restructuring: Rizwan Rizal Abidin
Investment Director 2: Adi Pamungkas Daskian
Director of Special Asset Management: JF Hasudungan