Board of Commissioners

Darmin Nasution

President Commissioner & Independent Commissioner

Mr. Darmin Nasution was the Coordinating Minister for Economic Affairs of the Republic of Indonesia (2015-2019). Mr. Darmin was succeeded by Mr. Airlangga Hartarto.  Previously, Mr. Nasution was the Governonr of Bank Indonesia in 2010 – 2013. Mr. Nasution was the Senior Deputy Governor of Bank Indonesia and was once the Acting Governor of Bank Indonesia (2009-2010). This office term was shorter than usual because Mr. Nasution had just taken over the office term of the previous Governor, Mr. Boediono, who was then Vice President of the Republic of Indonesia.

He also served as Director General of Taxes at the Ministry of Finance (2006 – 2009), Chairman of the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) (2005-2006) and Director General of Financial Institutions (2000 – 2005).

Before taking up various positions within the Indonesian government, Mr. Nasution was a faculty member at the University of Indonesia School of Economics, where he was Deputy Chair of the Lembaga Penyelidikan Ekonomi dan Masyarakat (LPEM, or Institute for Economic and Social Research) from 1987, and Head of the LPEM from 1989.

He holds bachelor’s degree in Economics from the University of Indonesia, in 1976, and received his Master’s and Doctorate degrees in the same major from the University of Paris, France in 1986.

Concurrent Position

Apart from serving as President Commissioner and Independent Commissioner of the Company, he is the President Commissioner of PT Pupuk Indonesia (Persero), President Commissioner of PT Smartfren Telecom Tbk., President Commissioner of PT Tripatra Multi Energi and Commissioner of PT FinAccel Finance Indonesia.

Affiliate Relationship Information

Mr. Darmin Nasution has no affiliation with members of the Board of Directors, members of the Board of Commissioners and Shareholders of the Company.

V. Sonny Loho

Independent Commissioner

Mr. V. Sonny Loho is also currently a member of Public Housing Savings Committee. Previously, he was an Independent Commissioner of PT Jasa Marga (Persero) Tbk and a Commissioner in PT Bank Rakyat Indonesia (Persero) Tbk. He is a Chartered Accountant (CA), and continue serving the profession as a member of Governmental Accounting Standards Consultative Committee and Institute of Indonesia Chartered Accountants Public Sector Steering Committee. Mr. Sonny had a long experience in Ministry of Finance with various key positions such as Director General of State Assets Management, Inspector General, Director of Accounting and Financial Reporting of Directorate General of Treasury. He was also a Chairman of Indonesian Government Internal Auditor Association from 2013 – 2015. He earned his master s degree in Public Management majoring in Finance from Carnegie Mellon University, USA and his bachelor s degree in Accountancy from the State College of Accountancy.

Concurrent Position

Apart from serving as Independent Commissioner of the Company, he is the Commissioner of PT Danareksa (Persero).

Affiliate Relationship Information

Mr. V. Sonny Loho has no affiliation with members of the Board of Directors, members of the Board of Commissioners and Shareholders of the Company.

Rinaldi Firmansyah

Independent Commissioner

Mr. Rinaldi Firmansyah was appointed as an Independent Commissioner of the Company since January 2018. Mr. Firmansyah earned a Bachelor’s degree of Electrical Engineering from the Bandung Institute of Technology (1985) and Master’s degree of Business Administration from the Institut Pengembangan Manajemen Indonesia (1998), Chartered Financial Analyst-AIMR, Charlottesville, USA and a Doctoral of Management Science from Faculty of Economics, University of Padjadjaran (2014). He started his career as a Junior Field Engineer at Schlumberger-England, Project Manager & Commissioning Engineer at Siemens/PT Dian Graha Elektrika, then worked at Citibank (1988-1991), Vice President of Finance PT Tirtamas Comexindo (1991-1997) and PT Kwalita Exporindo International, Director, President Director and Vice President Commissioner of PT Bahana Securities (1997-2004), Commissioner and Chairman of Audit Committee at PT Semen Padang (2003-2004), Director of Finance (2004-2007) and President Director (2007-2012) PT Telekomunikasi Indonesia Tbk. He concurrently serves as a Commissioner of PT Blue Bird Tbk, Commissioner PT Elnusa Tbk and Commissioner of PT Telekomunikasi Indonesia Tbk.

Concurrent Position

Apart from serving as Independent Commissioner of the Company, he also serves as Independent Commissioner of PT Bluebird Tbk., President Commissioner of PT Pertamina Hulu Energi and President Commissioner of PT Pinnacle Persada Investama.

Affiliate Relationship Information

Mr. Rinaldi Firmansyah has no affiliation with members of the Board of Directors, members of the Board of Commissioners and Shareholders of the Company

Yon Arsal

Commissioner

Mr. Yon Arsal has a background in working for the government, in the Directorate General of Tax, Ministry of Finance. In 2011, he served as the Head of Policy Impact Sub Directorate, Taxation Potential Sub Directorate (2013-2016), Tax Extensification and Intensification Research Personnel, subsequently appointed as Director of Potential, Compliance and Revenue (2016-2020). During his 9-year career as Head of Sub-directorate and Director of the Directorate of Potential, Compliance and Admission. He handled various tasks including developing strategies for increasing tax revenue and optimizing tax ratios, conducting forecasting analyzes, expanding tax base expansion and analyzing policy impacts, forecasting analysis. He was appointed as a Member of the Financial Accounting Standards Board of the Indonesian Accountant Association ex officio Directorate General of Taxes for the period November 2018-January 2020. Mr. Yon Arsal holds a Bachelor of Economics, majoring in Accounting from Padjadjaran University (1995), a Master of Science in Fiscal Administration from University of Indonesia (2005), a Master of Arts in Economics from Kobe University, Japan and a Doctor of Economics from Kobe University, Japan (2007).

Concurrent Position

In addition to serving as the Company’s Commissioner, he is the Special Advisor to the Minister of Finance for Tax Compliance at the Ministry of Finance.

Affiliate Relationship Information

Mr. Yon Arsal has no affiliation with members of the Board of Directors and the Board of Commissioners. He is a representative of PT Sarana Multi Infrastruktur (Persero).

Bhimantara Widyajala

Commissioner

Mr. Bhimantara Widyajala has a strong educational and professional training background as well as a wide range long list of more than 35 years’ experience in both government and corporate areas. Mr. Widyajala currently is Director of Capacity and Transfer in the Ministry of Finance. He was Apparatus Resource Adviser of the Ministry of Finance of the Republic of Indonesia. Previously, he held a position as Strategic Planning Adviser of the Ministry, at which concurrently in the period of 22 November 2018 up to 7 January 2019 he had an additional assignment as Acting Director of Center for Financial Profession Supervisory of the Ministry of Finance.

In 2011, He was a Director of Government Debt Securities, and later on, in 2012, he was assigned as Secretary of debt management office in the Ministry of Finance. He also served as a Board of Commissioner member of PT Indonesia Power, a power generation company from 2009 until 2013 and Commissioner of PT Perusahaan Pengelola Aset, a State- owned Asset Management Company (2012-2013).

Prior to joining PT Indonesia Infrastructure Finance (IIF), he served as Executive Director of The Asian Development Bank in Manila, Philippines for four years from July 2013 until June 2017. He represented a constituency of eight member countries, Armenia, Cook Islands, Fiji, Indonesia, Kyrgyz Republic, New Zealand, Samoa and Tonga. During his term as the ADB Board of Directors member, he actively served some Committees of the Board as follows: the Chair and a member of Ethics Committee of the Board (November 2015-June 2017), the Chair of Audit Committee of the Board (July 2014-November 2015), Member of Board Compliance Review Committee (July 2013-November 2015), a Member of Audit Committee of the Board (July 2013-June 2017). Mr. Widyajala also was the Dean of the ADB Board of Directors from January until June 2017.
His professional designations in auditing, (Certified Internal Auditors/CIA, Qualified Government Internal Auditor/QGIA, and Indonesia Internal Auditor Practitioner/IIAP); risk management (Certified Risk Management Assurance/CRMA); fraud examining (Certified Fraud Examiners/CFE) and accounting(Chartered Accountant/CA; Fellow CPA/FCPA (Aust.), ASEAN CPA, Certified Professional Management Accountant/CPMA) as well as in the professional human resources management area, Certified Professional Human Resources Management/CPHRM) represent his credential and strong professional competence in good corporate governance. His professional competence in handling variety of tasks brought him to visit more than 30 countries in the five continents during past two decades including worked and lived abroad, in US and Philippines more than five years.

Mr. Widyajala obtained his Bachelor’s degree in Law from the University of Indonesia and Accountant by training from the State College of Accountancy and Master of Science in Finance from the George Washington University, Washington DC, USA, at which in 1999 he had experience working for the Ernst & Young, LLP, Washington, DC. He took many capacity-building programs both in Indonesia and abroad, including Executive Traning: Leading Smart Policy Design and Implementation organized by Harvard Kennedy School, the Harvard University, USA in 2022 and Executive Training: Leading and Managing People organized by Wharton Executive Education, the University of Pennsylvania, Philadelphia (USA), in 2012.

Concurrent Position

In addition to serving as the Company’s Commissioner, he is Director of Capacity and Transfer in the Ministry of Finance. He also actively serves as Vice Head of Law, Regulation, and Digital Policy Department in the Indonesian Association of Digital Leaders since 2022.

Affiliate Relationship Information

Mr. Bhimantara Widyajala has no affiliation with members of the Board of Directors and other members of the Company’s Board of Commissioners. He is a representative of PT Sarana Multi Infrastruktur (Persero).

Marc-Oliver Juenemann

Commissioner

Dr. Marc Oliver Juenemann, 54 years old German citizen, with more than 20 years of relevant experience in finance. Dr. Marc Oliver Juenemann worked for about 12 years as senior investment executive / deal team leader in FIG on equity & quasi equity transactions primarily in SE Asia, East Afrika/Egypt and Mexico. After two short term financial institution related advisory mandates in Nepal and Albania and two years as analyst of emerging market banks in Frankfurt, Dr. Marc Oliver Jenemann covered securitizations/structured credit as analyst and portfolio manager in London and Hamburg. Dr. Marc Oliver Juenemann started his career in SME & Retail Banking in 1989 and worked during the economic transition period in former East Germany in a savings bank as client manager.

Dr. Marc Oliver Juenemann has been part of Teak Tree Investment in Cayman Islands, Bridge Investments Pte. Ltd Manila, HSH Investment Management, S.A in London, HSH Nordbank AG in London and Hamburg and other various companies across Europe and Asia.

Dr. Marc Oliver Juenemann holds an equivalent to Master of Science in Economics and Doctorate in Economics from the University of Gottingen, Germany.

Concurrent Position

In addition to serving as the Company’s Commissioner, he is a non-executive board member in Rent2Own Singapore and Vice President in KfW Banking Group / DEG in Cologne, Germany.

Affiliate Relationship Information

Dr. Marc Oliver Juenemann has no affiliation with the members of the Board of Directors and the Board of Commissioners of the Company.  He is a representative of DEG.

 

Lodewijk Govaerts

Commissioner

Mr. Lodewijk has an extensive experience for over 25 years in financial services, with leadership roles in global banks in 8 countries across Asia (incl. Indonesia), Australia, Europe and the Caribbean for organizations such as ABN Amro and Scotiabank. His experience ranges across all areas in banking, including Corporate & Investment Banking, Private Banking & Wealth Management and Retail & Commercial Bank-Assurance. He earned MBA degree from Groningen School of Management, Netherlands. He also holds Chartered Banker of the Asian Institute of Chartered Bankers in Malaysia and post-graduate Corporate Governance course for Executive and Non-Executive Directors of the Wagner Group in Netherlands.

Concurrent Position

In addition to serving as the Company’s Commissioner, he also serves as a Non-Executive Director at PPCS International Ltd, the Netherlands.

Affiliate Relationship Information

Mr. Lodewijk Govaerts has no affiliation with the members of the Board of Directors and the Board of Commissioners of the Company. He is a representative of the Asian Development Bank.

Supriya Prakash Sen

Commissioner

She is a former banker, and worked for 30+ years in project and structured finance at GE Capital, World Bank, Asian Development Bank, Citibank, and private equity investment firms- in areas of renewable energy, transportation, urban infrastructure and banking sector projects and programs in India, China, South East Asia and Middle East.

She has also served as a senior advisor at Mckinsey and as board level advisor in capital raising, strategic planning, policy and program design, public private partnerships, sustainable investing and innovation at various financial, technology and infrastructure service companies.

Supriya has an honours undergraduate degree in Engineering from Bangalore University and an MBA from Indian Institute of Management Calcutta.

Affiliate Relationship Information

Supriya has no affiliation with the members of the Board of Directors and the Board of Commissioners of the Company. She is a nominee of IFC.

Seth Tan

Commissioner

Mr. Seth Tan has over 25 years of infrastructure financing experience across several regions and in a broad range of infrastructure sub-sectors.  Besides Singapore, he has also worked in Australia, Hong Kong and China for almost 15 years.

Currently, Mr. Seth Tan heads up Infrastructure and Development Finance in the Structured Finance Department, Asia Pacific at Sumitomo Mitsui Banking Corporation (SMBC).  In his role, Seth focuses on Southeast Asia, South Asia and Northeast Asia (ex-Japan) on export credit agency financing and infrastructure financing.

Prior to his role at SMBC, Seth was the founding head of Infrastructure Asia, a regional infrastructure facilitation office under the Singapore government.  He also previously worked at DBS Bank, Standard Bank, Babcock and Brown and BNP Paribas.

Seth graduated from the National University of Singapore.

Concurrent Position

In addition to serving as the Company’s Commissioner, he is the Managing Director and Head of Infrastructure and Development Finance in the Structured Finance Department, Asia Pacific at Sumitomo Mitsui Banking Corporation.

Affiliate Relationship Information

Mr. Seth Tan has no affiliation with the members of the Board of Directors and the Board of Commissioners of the Company. He is a representative of Sumitomo Mitsui Banking Corporation.