Classified as Healthy, Hutama Karya Becomes Benchmark for Danantara
The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) is currently undertaking a massive transformation of State-Owned Enterprises (BUMN) within the construction and infrastructure sectors that are presently facing numerous issues. This reform is targeted for completion by the end of 2026.
Chief Operating Officer of BPI Danantara and Head of the BUMN Regulatory Agency, Dony Oskaria, stated that out of the seven construction SOEs, three are recorded as still being healthy: Nindya Karya, Brantas Abipraya, and Hutama Karya. All three will continue to be monitored and their businesses maintained to ensure they remain strong, including Hutama Karya.
The remaining companies face fundamental financial issues, with consolidated debt reaching Rp 180 trillion across parent and subsidiary companies, necessitating long-term improvements.
“Regarding Hutama Karya, we are indeed striving to ensure they do not fall into the same problematic situation. However, the issues within these construction firms are very fundamental and deep, requiring time for us to transform,” Dony said during Squawk Box CNBC Indonesia on Thursday (27/08/2026).
Dony explained that these improvements will be carried out fundamentally, which involves rebuilding the roadmap for construction SOEs moving forward. He also emphasised that the improvements would be conducted with transparency and the principle of prudence.
“With the presence of Danantara, we have the opportunity to resolve these issues and ensure that this does not happen again in the future,” he explained.
In this transformation, he continued, there will be at most only three construction companies. This is because having too many construction firms does not add value and instead increases risk.
“Hutama Karya serves as one of our benchmarks. It does not face financial problems; it is quite good. What I have mandated to them is to be sufficiently cautious in managing their toll roads, as these are new toll roads, mostly located in Sumatra,” Dony clarified.
Danantara is also collaborating with the Attorney General’s Office, the BPKP (Financial and Development Supervisory Agency), the Ministry of Law and Human Rights, the KPK (Corruption Eradication Commission), and the Ministry of Home Affairs to address SOE issues.
Through this consolidation of construction SOEs, these companies will focus solely on the contracting business, meaning they will no longer hold additional businesses such as fibre optics, property, water, or hotels. This transformation is also expected to drive infrastructure development, including the continued construction of the Sumatra Toll Road, as part of government infrastructure development in collaboration with the private sector.
“This is what I expect from them: please manage things carefully so that they do not fall into the same problems in the future,” he added.