Danantara to release financial reports following conclusion of SOE General Meetings
Jakarta (ANTARA) - The Head of the State-Owned Enterprise Regulatory Agency (BP BUMN) and Chief Operating Officer (COO) of Danantara, Dony Oskaria, will release financial reports once the General Meetings of Shareholders (RUPS) for all SOEs are concluded at the end of June.
“All (RUPS) will be completed by the end of June. All SOEs,” said Dony when met after attending a Working Meeting with Commission VI of the Indonesian House of Representatives (DPR RI) at the Parliament Complex in Senayan, Jakarta, on Monday.
Dony stated that Danantara’s financial reports are the result of a consolidation of all SOE financial statements. He continued that, currently, Danantara is still organising SOEs one by one, as several SOEs have yet to hold their General Meetings of Shareholders.
“Their RUPS are not yet finished. For example, Telkom only held theirs today, while PLN has not yet,” Dony said.
Consequently, he informed the public that Danantara’s financial reports have not yet been released because the agency is still finalising the bookkeeping for all SOEs, rather than a lack of transparency.
“This includes the impairments we are working on. Only after that will Danantara’s bookkeeping be completed,” said Dony.
He guaranteed that Danantara remains transparent and will undertake a massive overhaul of the governance and transparency of financial reporting for all state-owned enterprises.
In a separate instance, Dony emphasised that a total transformation within the SOE body is essential to ensure that the management of state assets becomes more transparent and accountable. According to him, the root cause of existing financial burdens stems from poor governance.
Dony revealed that the chaos in SOE financial reporting is often triggered by practices of manipulation or financial engineering intended to polish performance on the surface. As a result, the state and the companies must bear significant losses, due to both management negligence and illegal actions.
Given the massive scale of the issue, the management of Danantara and BP BUMN has chosen to take measured steps. Danantara’s financial reports will only be finalised after all problematic SOE financial items have been rectified and recalculated objectively.
Dony ensured that the team’s current primary focus is conducting in-depth audits and tidying up asset records to reflect the real conditions on the ground. He expressed hope that through this consolidation and ‘book cleaning’, Danantara can begin its operations on a healthy financial foundation, free from past burdens, and implement global-standard transparency.