Danantara Financial Statements Yet to be Released: The Challenges of Preparation
The Chief Operating Officer (COO) of Danantara Indonesia, Dony Oskaria, has explained that Danantara’s financial statements have not yet been published as they are still in the process of consolidation and auditing. Speaking at the Presidential Palace Complex in Jakarta on Friday (31/07/2026), he stated that the preparation of these reports is a first-time undertaking following the integration of all State-Owned Enterprises (SOEs) into a single holding structure.
According to Dony, the preparation of Danantara’s financial statements is significantly more complex than that of typical companies, as it requires consolidating the reports of all SOEs while simultaneously performing the elimination of inter-company transactions. “Danantara’s financial statements are the result of consolidating SOEs, and this is the first time SOEs are performing consolidated reporting,” Dony said.
He explained that previously, each SOE prepared its financial statements separately. However, now that they are under one holding, all transactions between SOEs must be eliminated to prevent double-counting within the consolidated report.
Dony noted that the process is time-consuming because it involves hundreds to thousands of entities that have transactions with one another. Nevertheless, he ensured that the preparation of the financial statements is being conducted transparently, with no information being withheld. “The process certainly requires a long time. But essentially, if we want to see it, we can; individually, we can still view the reports of each respective SOE,” he added.
He also revealed that Danantara’s financial statements are currently entering the pre-audit stage as part of the reporting process. Furthermore, Danantara is engaging financial consultants to develop a chart of accounts to ensure that the consolidated financial statements are prepared in accordance with applicable standards.
Dony expressed optimism that the preparation process will be faster in subsequent years once the patterns for consolidation and inter-SOE transaction elimination are established. “Since this is the first year, once we have established the pattern, the process of elimination across all companies will be much easier in the following years,” he concluded.