Jakarta’s golden share in Grab-GoTo deal signals state tightening oversight of critical tech assets

[JAKARTA] Indonesia’s plan to take a share in the Grab-GoTo mega-merger would place the state at the nerve centre of South-east Asia’s most influential digital platforms, with potential veto rights.

Analysts said that this push, channelled through the sovereign wealth fund Danantara, could signal Jakarta’s intent for tighter government control over critical tech assets, particularly platforms that millions depend on each day for ride-hailing, food delivery, payments, logistics and e-commerce.

This also reflects a broader global shift towards stronger state oversight of strategic digital assets, said Edward Gustely, co-founder and managing director of Penida Capital Advisors.