Danantara Ready to Cut State-Owned Enterprises to 254, Here's the Goal

Jakarta, CNBC Indonesia - Chief Operating Officer of BPI Danantara Dony Oskaria said that during the one and a half years Danantara has managed State-Owned Enterprises (SOEs), the agency has closed 290 SOE companies.

This streamlining is carried out so that in the future SOE companies can be more efficient, agile, competitive, and globally competitive. Dony is targeting that only 254 SOE companies will remain out of a total of 1,074 by the end of 2026.

“We have carried out various efforts in these 1.5 years. We have completed approximately 290 companies that were closed. And we hope that by the end of this year, the number of companies will be reduced from 1,074 to 254 solid, strong companies, all of which are profitable,” Dony told CNBC Indonesia in the Danantara SOE Progress Update, Wednesday (26/8/2026).

To accomplish this, Dony grouped SOE companies based on industry benchmarks and market sizing. In addition, he also conducted an internal capabilities analysis, both financial capabilities and people and organisation.

Furthermore, Dony and Danantara also divided the 1,074 SOE companies into four matrices. Group one consists of those that must be liquidated, while group two comprises companies that can be divested because they still have value.

Group three consists of those that can be consolidated, and group four includes companies that can be restructured, especially financially.

“An example of consolidation is the hospital that will be relaunched under the name Indonesia Hospital, planned for this September. This consolidation group will become a strong, competitive, and large company,” Dony emphasised.

Meanwhile, in restructuring, Danantara has undertaken various measures, including multi-corporate actions, equity injections, credit restructuring, haircuts, and many more.

Dony also cited Telkom as one of the companies being restructured, including a change in its business model to become a strategic holding.

Previously, Dony also explained that the key to improving SOE performance is the result of business transformation, management improvements, efficiency measures, and restructuring.

This is evident as a number of SOE companies such as PT Semen Indonesia Tbk, PT Pegadaian, PT Pupuk Indonesia, PT Timah Tbk, and PT Krakatau Steel Tbk have recorded excellent performance in recent times.