Danantara Chief Admits He Initially Did Not Know the Exact Number of State-Owned Enterprises
The Head of BP BUMN and COO of Danantara, Dony Oskaria, is pursuing systematic steps to restructure and improve the governance of state-owned enterprises (SOEs). These systematic steps began with ensuring accurate data on the total number of companies. “When we first counted, the numbers kept changing, from 888, then 900, 972, 1,000, to 1,077. Finally, we now have the correct figure,” Dony said in a statement on Friday, 12 June 2026. “This means we didn’t even know the number of SOEs,” he stated.
Integrated data collection and consolidation of all corporate entities has become the primary foundation before executing a massive restructuring of SOEs to optimise state assets. After holding a well-validated portfolio database, Dony explained that the next agenda is to carry out a thorough and deep restructuring of the SOEs. He stressed that improving the governance of state-owned companies must not focus solely on resolving financial problems.
According to him, the SOE restructuring step is not merely about financial restructuring, but must be carried out in tandem with business restructuring so that the companies are truly healthy down to their operational roots and business models. “Usually we do financial restructuring. I said I don’t want just financial restructuring, I want business restructuring. We change, we ensure the business is right first, then we inject equity if they need it,” Dony said.
As a concrete example of this comprehensive approach, Dony highlighted the improvement process undertaken at PT Krakatau Steel (Persero) Tbk. The restructuring of the national steel company is confirmed to not only centre on rearranging its debt burden or funding structure, but is also focused on overhauling the company’s business model to make it efficient, competitive, and sustainable in the long term. This systematic and comprehensive step has succeeded in reviving a previously loss-making SOE into a profitable one, with Krakatau Steel posting a profit of around Rp 5 trillion.