Latest news with #DonyOskaria
Business Times
20-05-2025
- Business
- Business Times
Indonesia's wealth fund Danantara eyes major overhaul of 800 state firms via mergers, closures
[JAKARTA] Indonesia's sovereign wealth fund Daya Anagata Nusantara is reviewing the operations of more than 800 state companies and subsidiaries as part of a sweeping overhaul that would likely involve mergers and closures. 'State-owned enterprises have built their own mini-conglomerates,' Dony Oskaria, chief operating officer of Danantara Indonesia, as the fund is known, said in a forum on Tuesday (May 20). He cited Telkom Indonesia as an example, which has around 200 subsidiaries, as well as airport manager Angkasa Pura and train operator Kereta Api Indonesia, which also run their own units. The review, targeted for completion by October, will categorise government-owned companies by sector and identify underperformers, with each to receive a roadmap that focuses on business optimisation that may include private investments. The goal is to reduce the number of government-owned firms to about 200 competitive and globally-oriented companies, Oskaria said. Launched in February, Danantara is a key part of President Prabowo Subianto's strategy to boost annual growth to 8 per cent during his term. It oversees a broad portfolio of major state firms, including top banks, energy and mining companies. Executives have said Danantara may eventually manage over US$1 trillion in assets. The fund must navigate a wide performance gap among the state enterprises. While state lenders have been posting profit, companies like Garuda Indonesia and Waskita Karya remain burdened by debt. Danantara targets annual dividends of 170 trillion rupiah (S$13.4 billion) for reinvestment, although for this year, it may only deliver around 120 trillion rupiah. 'We're still in the process of selecting viable projects,' Oskaria said. Earlier this month, Bloomberg reported that Danantara is in talks with France's Eramet for a potential joint investment in a nickel plant. BLOOMBERG
Bloomberg
20-05-2025
- Business
- Bloomberg
Indonesia's Danantara Eyes Major Overhaul of 800 State Firms Via Mergers, Closures
Indonesia's sovereign wealth fund Daya Anagata Nusantara is reviewing the operations of more than 800 state companies and subsidiaries as part of a sweeping overhaul that would likely involve mergers and closures. 'State-owned enterprises have built their own mini-conglomerates,' Dony Oskaria, chief operating officer of Danantara, as the fund is known, said in a forum on Tuesday. He cited PT Telkom Indonesia as an example, which has around 200 subsidiaries, as well as airport manager PT Angkasa Pura and train operator PT Kereta Api Indonesia, which also run their own units.
