Danantara Uncovers BUMN Problems: Impairment Reaches Rp100 Trillion

Jakarta, CNBC Indonesia — The BUMN Supervisory Agency (BP BUMN), together with Danantara’s BPI, is conducting a sweeping overhaul of governance and the transparency of financial reporting across all state-owned enterprises. The Chief Operating Officer (COO) of Danantara and also head of BP BUMN, Dony Oskaria, said this effort is crucial in tandem with the cleanup of BUMN financial books and the resolution of impairment processes that are problematic before Danantara’s financial statements are finalised and published mid-year. ‘We are tidying up all the accounts. We’ll clean up the impairments first,’ Dony said in a statement quoted Thursday (21 May 2026). Dony emphasised that a complete transformation of the BUMN body must be undertaken so that the management of state assets becomes more transparent and accountable. In his view, the root cause of the financial burdens experienced to date stems from poor governance. ‘BUMN must change, must transform into a more transparent and better managed entity,’ he asserted. Dony revealed that the chaos in BUMN financial reporting is often triggered by practices of manipulation or financial engineering aimed at polishing apparent performance. As a result, the country and the companies must bear large losses, whether due to managerial negligence or fraudulent actions. ‘The mistakes arise from four things. Financial engineering aims for apparent better performance. Because investments are inflated and overstated. Losses due to carelessness in management or losses due to fraud,’ he said. The impact of weak governance is reflected in the surge in impairment values of BUMN assets, reaching a fantastical figure. This must be corrected this year. ‘You can imagine that this year alone, impairments are almost Rp100 trillion due to governance errors,’ said Dony. Not only that, the pension fund sector (dapen) of BUMN is also under sharp scrutiny because it harbours a time bomb in the form of potential defaults with very large exposure. ‘This year I must resolve again the potential defaults and our pension fund exposure is around Rp50 trillion,’ he continued. Given the scale of the problem, Danantara’s management and BP BUMN have chosen measured steps. Danantara’s financial statements will only be completed after all problematic BUMN financial positions have been disciplined and counted anew objectively. Dony assured that the current primary focus of his team is to conduct in-depth audits and tidy asset records to reflect real-on-the-ground conditions. Through consolidation and cleaning up of the books, Danantara is expected to begin its steps on a foundation of healthy finances, free from past burdens, and to apply globally-class transparency standards.