BUMN Karya restructuring nearly finalised, says BP BUMN head

Jakarta — Dony Oskaria, head of the State-Owned Enterprise Regulatory Board (BP BUMN), has affirmed that the restructuring process for state-owned enterprise BUMN Karya is nearly finalised, with the next phase moving into consolidation across three core business units: building construction, infrastructure, and engineering procurement and construction (EPC).

He explained that the restructuring will commence with fundamental company improvements, particularly through financial statement impairment.

“BUMN Karya is currently undertaking restructuring and it is nearly final. We have also conducted impairment against accounting deficiencies. Then we restructured their debts. After this, they will enter the consolidation phase,” Dony stated in remarks made in Jakarta on Tuesday.

Dony outlined that following fundamental company improvements, the next step would be consolidation. This is being carried out by examining the competencies of each state-owned enterprise against the three designated core business areas.

He expressed optimism that fundamental improvements and consolidation would create a brighter future for BUMN Karya, particularly with regard to its corporate governance.

He stressed that BUMN Karya is moving towards consolidation with a spirit of transparency, and that the enterprise remains open to oversight.

“If there is anything that is not good, not right, it will be brought up immediately. That is fine. That is a form of control over state-owned enterprises that are indeed owned by the people,” Dony said.