Danantara Boss Says State-Owned PT INTI Faces Closure
Yogyakarta, CNBC Indonesia — Chief Operating Officer (COO) Danantara Dony Oskaria opened up the possibility of closing a number of state-owned enterprises (BUMN) that continue to face business difficulties and are hard to salvage, one of which is PT Industri Telekomunikasi Indonesia (INTI).
According to Dony, one of the main challenges in managing BUMN is the lack of an integrated system across the holding companies, making it difficult for healthier firms to assist troubled BUMN.
“BUMN used to stand independently. This is something many people do not know,” Dony said at the Jogja Financial Festival (Finfest) 2026 in Yogyakarta, on Friday (22 May 2026).
He explained that this condition has put several large BUMN that were once successful under heavy pressure.
“If in Bandung there is PT INTI, which is very famous, it is now facing problems, we might close it as well,” he said.
In addition to PT INTI, Dony noted other BUMN that have faced business pressure, such as PT Jakarta Lloyd (Persero) and PT Krakatau Steel (Persero) Tbk.
He noted that before Danantara existed, profits from large BUMN such as PT Bank Rakyat Indonesia (Persero) Tbk and PT Bank Mandiri (Persero) Tbk could not be used to help other state-owned enterprises.
“The profits of BRI, Bank Mandiri and others could not be used to help other companies,” he said.
As a result, the government is now consolidating BUMN through Danantara, described as a sovereign wealth fund based on state-owned enterprises, or a state-owned enterprise-based sovereign wealth fund.
Under this model, various BUMN are now under a single holding company, making restructuring and turnaround processes easier to implement.
“With one holding company now it is easier for us to carry out the turnaround for our companies,” he said.
Dony emphasised that changes to BUMN governance are being implemented so that the red-and-white state-owned enterprises can contribute more significantly to national economic growth and job creation.
“We expect to make the maximum contribution to accelerating our economic growth going forward,” he concluded.
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