Role of State in controlling market still conducted by Government of Indonesia, specially in handling State Owned Company (BUMN). This Matter proved with ownership of governmental share in State Owned Company (BUMN) representing governmental appliance to support efficacy of development in business, because role of BUMN as development of agent expected can lead efficacy society of development through the business. In order to increase performance of BUMN, hence pursuant to Minister Decree of No. KEP-117/M-MBU/2002 about Applying Of Good Corporate Governance in State Owned Company (BUMN) used by organ of BUMN to increase efficacy of and effort of accountability company utilize to realize stockholder value on a long term without neglecting importance of other stakeholder, base to regulation of worthwhile ethics values and invitation to increase trust of investor, improving company value, improving efficiency and performance and improve the quality of service of BUMN to all stakeholder.