Takeover of 40 Per Cent Whoosh Shares from PSBI, Suahasil CS: Currently Being Finalised!
The Ministry of Finance, through the Director General of State Assets, Evita Manthovani, has announced that the transfer of shares held by PT Pilar Sinergi BUMN Indonesia (PSBI) in PT Kereta Cepat Indonesia China (KCIC), also known as Whoosh, is currently being finalised.
“The transfer of PT PSBI shares to the government through the Ministry of Finance is currently in the finalisation stage,” stated Evita during the September 2026 edition of the APBN KiTa press conference at the Ministry of Finance in Jakarta on Friday, 18 September 2026.
The government plans to take over a 60 per cent ownership stake in KCIC, with completion targeted for mid-September 2026. This portion of shares has previously been controlled by a state-owned enterprise (SOE) consortium via PT Pilar Sinergi BUMN Indonesia (PSBI), while the remaining 40 per cent will continue to be held by the Chinese consortium, Beijing Yawan HSR Co. Ltd.
Evita noted that the scheme has been established and discussed in detail. “This is certainly in line with expectations, without involving the State Budget (APBN) directly in meeting PT PSBI’s obligations,” she added.
Consequently, Evita expressed hope that the transfer would proceed in a planned and precise manner, noting that the government needs to map out several aspects, including financial, business, operational, and legal dimensions. “Currently, the Ministry of Finance is conducting due diligence and evaluating the share value of the PSBI shares that are to be transferred,” said Evante.
In parallel, Evita mentioned that the Ministry of Finance is also drafting a Presidential Regulation (Perpres). These steps are being carried out in coordination with the State-Owned Enterprises Agency (BP BUMN) and the Danantara Investment Agency (BPI Danantara).
Furthermore, the Chief Executive Officer (CEO) of Danantara Indonesia, Rosan Roeslani, confirmed that the process of transferring the management of KCIC to the Ministry of Finance remains on track despite the change in Finance Minister from Purbaya Yudhi Sadewa to Suahasil Nazara.
Rosan, who also serves as the Minister of Investment and Downstreaming, stated that the change in Finance Minister would not disrupt the ongoing process. He noted that he has communicated with Suahasil to ensure that ongoing programmes and unfinished tasks can be followed up immediately.