OREMAVEN
XMM 7,722.00 -2.63% YTD +5.6% OM ASX 450.55 -2.56% YTD +0.1% OM PRECIOUS 349.20 -2.24% YTD +2.5% OM EX-PREC 418.91 -2.72% YTD -1.1% XAU 4,115.59 +2.31% YTD -4.9% GLD 375.49 +0.81% YTD -5.2% GDX 85.75 +1.37% YTD -0.0% SIL 77.33 -1.00% YTD -7.3% COPX 70.23 -5.81% YTD -1.8% URNM 40.07 -2.79% YTD -27.0%
2026-11-06

← ATM management

Full background report

Untung Budiharto

President Director

Career chronology

  • From 15 December 2025: PT ANTAM (Persero) Tbk — President Director. 2025 Annual Report (p.168); Minutes of ANTAM Annual GMS for FY2025 (p.2)

  • 2023–2025: Transjakarta — President Commissioner. 2025 Annual Report (p.168)

  • Before 2025; multiple dates listed in issuer biography: Indonesian Army / public service — Senior military and government roles including Commander, Kodam Jaya; BNPT Secretary-General; Basarnas operations roles. 2025 Annual Report (p.168)

Contributions and company outcomes

ANTAM reported stronger 9M26 financial results during his presidency

1 January–30 September 2026 · issuer reported · medium materiality

ANTAM reported 9M26 net profit of Rp9.66 trillion, up 46% year over year, EBITDA of Rp13.48 trillion and sales of Rp88.48 trillion. His President Director tenure began in December 2025, so the nine-month period partly overlaps his tenure. The release is issuer-reported and does not isolate personal contribution or separate commodity, mix and execution effects.

Attribution: Role overlaps event; causation unproven. The role overlaps only part of the reporting period; no personal causation is established.

Relevance: Relevant current performance context, but not evidence of sole or attributable CEO delivery.

ANTAM’s Performance Continues to Strengthen, 9M26 Net Profit Growth 46% to Rp9.66 Trillion (9M26 earnings release; headline and financial summary)

Litigation and enforcement

Appeal conviction for unlawful deprivation of liberty in the Tim Mawar case

1997–2000 proceedings; final appeal 24 October 2000 · documented · high materiality

A 1999 military court judgment identifies Untung Budi Harto as Defendant V and Unit I commander and describes his participation in group operations involving abduction and detention of nine named activists. Hukumonline’s later account says the appeal court convicted 11 defendants, changed Untung’s sentence to 2 years 10 months and removed the dismissal sanction; it reports the judgment was final and the sentence served. ICTJ/KontraS distinguishes those nine detained activists from 13 activists who remained missing; the reviewed evidence does not establish Untung’s role in the missing-person cases.

Attribution: Individual involvement documented. Court records connect him to the unlawful detention operation; no broader role in disappearance of the 13 still-missing activists is established by the reviewed sources.

Relevance: Material integrity and governance history for a current state-controlled miner CEO; historical conviction is documented, with scope carefully bounded.

Military High Court II Jakarta judgment PUT.25-16/K-AD/MMT-II/IV/1999 (pp.53, 62, 99); MA Akhirnya Membuka Informasi Proses Hukum “Tim Mawar” (appeal outcome and finality); Indonesia: Derailed — Transitional Justice in Indonesia Since the Fall of Soeharto (distinction between nine detained and 13 still missing)

Suitability for the current role

Military and public-sector leadership precedes ANTAM presidency

1988–15 December 2025 · analyst inference · medium materiality

ANTAM reports that Untung graduated from the Military Academy in 1988 and held senior military and government roles, including Commander of Kodam Jaya (2022–23), President Commissioner of Transjakarta (2023–25) and roles at BNPT and Basarnas. ANTAM says he became President Director on 15 December 2025. The biography supports leadership experience but does not document mining operating or capital-allocation results before ANTAM.

Attribution: Responsibility not applicable. The career chronology is company-reported; individual performance in the prior public roles was not independently assessed.

Relevance: Relevant leadership breadth, with limited direct mining track record established by the sources reviewed.

2025 Annual Report (p.168)

Evidence gaps

  • His mining-industry tenure before appointment and independently measured outcomes in prior military/government roles were not established.

  • The historical court record concerns nine activists detained; reviewed sources do not establish his involvement in the 13 activists who remained missing.

  • No exhaustive legal, sanctions, professional-discipline or referee check was performed.