State-Owned Enterprise Restructuring of Karya Involves Himbara

The Ministry of State-Owned Enterprises (SOEs) and the Danantara Investment Authority are undertaking a restructuring of state construction companies, involving the Association of State-Owned Banks (Himbara). Head of the SOE Ministry and Danantara COO, Dony Oskaria, stated that state banks are being included in the process to provide financing support for the transformation of PT PP (Persero) Tbk and PT Adhi Karya (Persero) Tbk.

According to Dony, the restructuring is a strategic step to strengthen the companies’ financial conditions, enhance business discipline, and ensure that financing support is directed towards productive projects. The discussions focused on developing sound and sustainable financing schemes. “The restructuring must be a turning point to build stronger, healthier SOEs with better governance,” he said.

For PT Waskita Karya (Persero) Tbk, the restructuring is aimed at refocusing the company’s business model, particularly on toll roads, which offer long-term recurring income. Dony noted that the process includes asset valuation, debt repayment structure, and cash flow projections. He emphasized that Waskita’s financial health must be restored to enable it to meet its obligations independently and regain stakeholder trust, potentially opening access to capital market funding. “Waskita can become the second toll road company after Jasa Marga, as long as the calculations are correct,” he stated, adding that the goal is a comprehensive transformation to prevent future financial problems.