Video: Beyond Saving, Indofarma Subsidiary Forced into Bankruptcy

The Chief Operating Officer of BPI Danantara and Head of the State-Owned Enterprise (SOE) Regulatory Agency, Dony Osklaria, stated that BPI Danantara is ensuring the streamlining process of SOEs is aimed at improving performance without impacting employees, meaning there will be no layoffs.

Dony Oskaria mentioned that efforts to address SOE issues will reduce losses and potentially save up to Rp 60 trillion, ensuring that improvement efforts in companies such as Telkomsel and PT Pos will not result in employee redundancies.

Regarding the pharmaceutical SOEs, Danantara is conducting a transformation through a holding structure under Bio Farma. One of the improvements is being implemented at Kimia Farma, which faced deep financial issues caused by unmeasured investments in large factory constructions with low utilisation, as well as challenges within Kimia Farma pharmacies, which operate 1,000 outlets.

Danantara is performing a fundamental transformation of Kimia Farma through management and business restructuring to ensure it can be saved, and it has already recorded profits. However, Indofarma is facing severe problems with its subsidiary, PT Indofarma Global Medika (IGM), which is currently undergoing bankruptcy proceedings.