Danantara Rebukes Inka Following Rp 677 Billion Loss and Rp 4.7 Trillion Debt
PT Industri Kereta Api (Persero), known as Inka, has received a severe reprimand from the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) and the State-Owned Enterprise (SOE) Regulatory Body following negative financial performance.
Dony Oskaria, Head of the SOE Regulatory Body and Chief Operating Officer of BPI Dananta, revealed that Inka has incurred losses of up to Rp 677 billion. Furthermore, the company holds unsustainable loans amounting to Rp 4.7 trillion.
“In my view, Inka is not in a good condition. It is strange; how can a manufacturing company that provides services suffer such losses while carrying Rp 4.7 trillion in unsustainable debt?” Dony stated, as quoted from an Instagram post by @bumn_id on Wednesday (16/09/2026).
In light of this, Dony is pushing for an improvement in Inka’s financial performance through robust governance, comprehensive planning, and benchmarking against industry best practices. He emphasised that all levels of Inka’s management must share the commitment to rectify the company’s condition.
Furthermore, Dony ensured that the government will push for a total transformation of the national train manufacturer. This transformation will encompass business models, governance, work culture, production quality, and operational systems.
Dony assessed that increasing production quality is the primary priority in Inka’s transformation and requested that the company immediately draft a grand transformation plan. “We need Inka for employment and industrialisation—railway industrialisation. As President Prabowo Subianto desires, our railway industry must truly advance,” he asserted.
Separately, the Minister of Transportation, Dudy Purwagandhi, has opened the door for foreign train manufacturers to invest in Indonesia. The presence of foreign manufacturers is seen as a way to create competition and encourage PT INKA to improve.
He stated this during a media gathering in Central Jakarta on Thursday (10/09/2026). The statement came when the Minister was questioned regarding Inka-produced Electric Multiple Units (KRL) that had recently drawn public scrutiny after being recalled to the factory for maintenance despite having served the Greater Jakarta (Jabodetabek) area for less than a year.
During the same event, the Director General of Railways at the Ministry of Transportation, Allan Tandiono, added that the government is certainly creating space for investors to foster competitiveness within the national railway industry. “If there are proposals for external factories, there must be competition; there must be an ‘Inka 2.0’. This competition can make them better,” explained Allan.
Dudy continued, noting that this process is part of an effort to mature the national railway industry. “It is a process of maturing the industry. Like a child learning to walk, do they need a ‘walking chair’?”
Dudy suggested that the international industry could serve as a learning tool for the domestic railway sector. He welcomed foreign manufacturers interested in investing and building production facilities in Indonesia, noting that such investment could provide benefits in the form of technology transfer and job creation.
Allan Tandiono also highlighted the experience of China, which demonstrates that the presence of foreign players can drive the development of the domestic industry.
Meanwhile, PT Inka is currently involved in the maintenance of KRL rolling stock used by PT Kereta Commuter Indonesia (KAI Commuter). KAI Commuter has adjusted its travel schedules since 7 September 2026 due to this maintenance. As a result, 17 KRL trips were adjusted, causing the total daily Jabodetabek commuter line trips to drop from 1,065 to 1,048.
On Thursday (09/09/2026), KAI Commuter reinstated 13 trips on the Bogor line following an evaluation of passenger density, bringing the total Jabodetabek KRL trips to 1,061 per day. During this maintenance process, Inka and KAI Commuter are conducting a General Check-Up on the iE305 series KRL units produced by Inka, inspecting components including bogie systems, propulsion systems, and safety-related components.