State-Owned Enterprise Performance Improves Thanks to Transformation
State-Owned Enterprises (BUMN) have recorded improved performance as a result of the transformation carried out by the Supervisory Board for State-Owned Enterprises (BP BUMN) and the Daya Anagata Nusantara Investment Management Agency (BPI Danantara). Strengthening governance, accountability, and the use of data are the main focuses in driving the performance of these state-owned companies.
Head of BP BUMN and Chief Operating Officer of Danantara, Dony Oskaria, stated that the management of BUMN is being directed to be more accountable, data-based, and aligned with actual conditions on the ground. According to him, performance reports are compiled with an emphasis on information accuracy so that the public can obtain a clearer picture of BUMN’s contribution to the national economy.
Dony cited that this transformation is reflected in the performance of several BUMNs up to May 2026. Based on unaudited performance reports, Pelindo recorded a current year profit of Rp2.01 trillion, an increase of 94% compared to the same period the previous year. Meanwhile, Pupuk Indonesia Group posted a net profit of Rp6.70 trillion, a 230% year-on-year surge.
“These achievements show that the transformation of BUMN is starting to deliver tangible results,” Dony said recently.
Positive performance was also seen at PT PLN (Persero) and PT Pertamina (Persero). PLN recorded revenue of Rp582.68 trillion in 2025, growing 6.84% from Rp545.38 trillion in 2024. This achievement was made amidst global economic dynamics and natural disasters throughout 2025.
Pertamina posted revenue of US$70.89 billion and a profit of US$3.35 billion, an increase of 7.2% compared to the previous year. This performance propelled Pertamina to third place in the Fortune Southeast Asia 500.
Positive results were also recorded by the Association of State-Owned Banks (Himbara), which includes Bank Mandiri, BRI, BNI, and BTN. Minister of Investment and Downstreaming/Head of BKPM and CEO of Danantara, Rosan Roeslani, stated that the combined market capitalisation of Himbara banks could reach approximately Rp1,100 trillion, or about 10% of the total value of all national companies.
Rosan conveyed President Prabowo Subianto’s directive that Himbara should not only be viewed as a business entity but must also provide benefits to the community, including opening opportunities for micro, small, and medium enterprises (MSMEs).
Despite strengthening financial performance, Rosan stressed that Himbara banks must continue to carry out their business roles and support government programmes with the principles of prudence and professionalism.
“The most important thing is that everything must be carried out with the principle of prudence professionally, and the presence of Himbara must truly be felt by all Indonesian people by providing equal opportunities,” he concluded.