Danantara stresses prudence in restructuring state-owned construction firms
Jakarta (ANTARA) - Danantara Indonesia Chief Operating Officer and Head of BP BUMN Dony Oskaria has stressed the principle of prudence in the restructuring process of state-owned construction companies (BUMN Karya).
“We are indeed being very careful. This is what takes time, and the public should also know that this problem has been going on for quite a long time and is substantial. This is what we are resolving one by one,” Dony said when met at the Parliament Complex in Senayan, Jakarta, on Tuesday.
He assessed that the state-owned construction firms have a number of quite complex problems, which is why the restructuring process is taking a considerable amount of time.
He cited several of these problems, ranging from the large number of subsidiary and sub-subsidiary companies to debts of significant value.
“The problems are quite extensive. Firstly, the liabilities are large, the debts are substantial. Secondly, the problem is not only at the holding level, but there are also troubled subsidiary companies. You can imagine each one has more than 20 subsidiaries. So from this you can actually imagine how we work to resolve them one by one,” Dony explained.
Therefore, the principle of prudence is his top priority in completing the current efforts to rehabilitate the state-owned construction firms.
“But if we wanted to be instant without thinking about the impact on the people affected, that would be easy. We could merge them, we could declare them bankrupt, and so on. But we are also thinking about the impact on the wider ecosystem. So we are indeed being very careful,” Dony said.
Regarding the target for restructuring the state-owned construction firms, Dony admitted he could not yet confirm a date. However, he hopes it can be completed by the end of this year.
“I cannot confirm this because it is an ongoing process. I am still striving for it to be finished by the end of this year. But the dynamics involved in resolving this are quite complicated. Our colleagues certainly also know there are issues such as LRT City, and later there will be another one involving the lawsuit against WIKA Realty, and all sorts of things,” he said.
Previously, Dony Oskaria stated that the merger of the state-owned construction firms, originally targeted for June 2026, would be postponed to the fourth quarter of 2026.
“What is somewhat delayed is also in the construction sector. The construction firms were originally scheduled for June, which will likely be shifted to the fourth quarter,” Dony said in Jakarta on Monday (8/6).
For information, the state-owned construction firms planned to be merged are PT Hutama Karya (Persero), PT Waskita Karya (Persero) Tbk, PT Wijaya Karya (Persero) Tbk, PT Adhi Karya (Persero) Tbk, PT PP (Persero) Tbk, PT Brantas Abipraya (Persero), and PT Nindya Karya (Persero).