Jakarta, CNBC Indonesia - The Chief Operating Officer (COO) of BPI\nDanantara, Dony Oskaria, has revealed that the debt consolidation of\nstate-owned construction companies (BUMN Karya) is currently very large,\nreaching Rp 180 trillion. Dony even noted that some construction SOEs\nhave debts exceeding their total asset value.<\/p>\n
\u201cTherefore, specifically for these construction companies, after more\nthan six months of focusing on various scenarios, I hope that by the end\nof this year, the process can be completed because the scale of the\nproblems faced by SOEs is quite massive, and each company faces\ndifferent issues,\u201d Dony told CNBC Indonesia, as quoted on Thursday\n(3\/9\/2026).<\/p>\n
Dony detailed that out of the seven construction SOEs, only three are\ncurrently in a truly healthy condition: Nindya Karya, Brantas Abipraya,\nand Hutama Karya. Dony stated that these three healthy companies will be\nprotected to ensure they do not encounter the same financial\ndifficulties.<\/p>\n
\u201cHowever, the issues within our construction companies are very\nfundamental and deep, requiring time for us to carry out a\ntransformation. The first issue relates to their financial situation.\nAside from these three companies, they are facing quite deep financial\nproblems,\u201d D_ony explained.<\/p>\n
Dony also expressed hope that these construction SOEs could become\nlocomotives of development in the future. He identified Hutama Karya as\na benchmark because it does not face financial issues, despite managing\na significant number of toll roads. Consequently, Hutama Karya is\nexpected to manage its toll roads and finances with great care.<\/p>\n
\u201cBecause these are new toll roads, mostly located in Sumatra. This is\nwhat I expect from them\u2014to manage the toll roads carefully so they do\nnot fall into the same problems in the future. Although we are working\non improvements, I do not want to implement repairs that are merely\ntemporary,\u201d Dony emphasised.<\/p>\n
It is noted that there was a period when construction SOEs\naggressively expanded into sectors outside of construction, such as\nfibre optics, water, property, hotels, and toll roads. This expansion\ntrend ultimately caused these companies to lose focus on developing\ntheir core businesses.<\/p>\n
In light of this, Danantara intends to overhaul the consolidation and\ntransformation process of these construction SOEs so they can return to\nfocusing on their core contracting business.<\/p>\n
\u201cIn the past, perhaps because they had significant cash reserves,\nthese construction companies felt the temptation to build businesses\noutside of their core. You can imagine that our construction companies\nhave businesses in fibre optics, water, property, hotels, and toll\nroads; some have various businesses that deviate from their core\nbusiness as contractors. We are addressing these one by one through the\ncleaning process following the consolidation and transformation of these\nconstruction companies,\u201d said Dony.<\/p>\n
So far, the efforts to transform the construction SOEs have not been\nfully realised due to the massive scale of the improvements\nrequired.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/driving-development-danantara-highlights-hutama-karya-as-benchmark-1788432916", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }