Four State-Owned Enterprises Report Use of State Capital Injection Funds

Jakarta, CNBC Indonesia - A number of state-owned enterprises (BUMN) have submitted the realisation of their 2025 state capital injections (PMN) to Commission XI of the Indonesian House of Representatives (DPR). The four BUMN reporting their realisation results are PT Kereta Api Indonesia (Persero), PT Industri Kereta Api (Persero) or INKA, PT Pelayaran Nasional Indonesia (Persero) or Pelni, and PT Sarana Multigriya Finansial (Persero).

Commission XI Chairman Misbakhun stated that the PMN for KAI is being used to add new electric rail trains (KRL) and retrofit the fleet in accordance with the company’s business plan. “It is being optimised according to the business plan and the established project implementation schedule, so that it does not impact the dependency of public services and create idle funds that reduce the effectiveness of government investment,” he said during a hearing at the DPR building in Jakarta on Monday (22/6/2026).

Furthermore, the PMN for PT Industri Kereta Api (Persero) or INKA is being used to support industrial transformation through the modernisation of production facilities, technology development, and digital transformation integration to fulfil domestic railway needs and enhance the competitiveness of national railway project products. The funds are also being used to optimise the value of local content components (TKDN).

Meanwhile, the PMN for PT Pelayaran Nasional Indonesia (Persero) is being used for the procurement of new passenger ship fleets according to specified designs, thereby meeting the public’s need for a transformation of sea transport modes.

“PT Kereta Api Indonesia, PT Industri Kereta Api, and PT Pelayaran Nasional Indonesia Persero ensure that every use of PMN must be oriented towards increasing connectivity, service capacity, safety, and the company’s operational efficiency, as well as providing a multiplier effect on national economic growth,” he revealed.

Lastly, PT Sarana Multigriya Finansial (Persero) is using the PMN funds to anticipate the risk of interest rate increases that could affect the leverage amount of the 2025 PMN, in order to realise subsidised housing financing for low-income communities.