DSI and Sucofindo Strengthen Synergy to Prevent Under-Invoicing of Export Products

Jakarta (ANTARA) - PT Danantara Sumber Daya Indonesia (DSI) and PT Sucofindo are strengthening synergy to prevent the practice of under-invoicing export products, which has the potential to cause state losses. “We can no longer give room for under-invoicing practices. Verification must be truly strengthened so that all transactions can be accounted for,” said Head of the State-Owned Enterprises Supervisory Board (BP BUMN) and Chief Operating Officer (COO) of Danantara, Dony Oskaria, in an official statement confirmed from Jakarta on Thursday. Through this collaboration, Sucofindo will strengthen its role as an independent verifier to ensure transparency and accountability in export transaction values. In addition to tightening trade supervision to avoid state losses from such practices, Sucofindo is also continuously strengthening its role in supporting national mineral export governance through the formulation of strategies for identifying associated minerals, including Rare Earth Elements (REE) and radioactive elements. Dony held a meeting with PT Sucofindo President Director Sandry Pasambuna to discuss concrete steps to prevent under-invoicing, the progress of associated mineral identification strategies, strengthening export risk mitigation, and synchronising steps to support more effective and integrated mineral sector governance. Through this collaboration, BP BUMN and Danantara are encouraging the strengthening of the role of state-owned enterprises in creating a more accountable export verification system, supporting regulatory certainty, and enhancing the competitiveness of Indonesia’s mining industry in the global market. President Prabowo Subianto explained that PT DSI was established as a strategy to stop state wealth from being taken abroad through illegal export practices, such as price manipulation (under-invoicing) and transfer pricing. The President gave an example of rogue exporters making a crude palm oil (CPO) sales contract at Rp15,000 per kilogram, but the actual selling price in European countries was, for instance, Rp27,000 per kilogram. Such practices, Prabowo said, have caused state losses of up to 50 per cent. Therefore, Prabowo explained that PT DSI was formed so that the state can monitor and supervise the export of its strategic commodities, while preventing export manipulation practices that harm the state and the Indonesian people as farmers and producers.