Jakarta — BPI Danantara is preparing major steps to strengthen its position as a state-owned enterprise (SOE) in both domestic and global markets. One strategy currently under discussion with the Financial Services Authority (OJK) is the merger of several similar SOEs in the financial and non-financial sectors.
This merger plan is said to create a larger business scale, operational efficiency, and strengthen competitiveness amidst global competition.
Mahendra Siregar, Chairman of the Board of Commissioners of the Financial Services Authority (OJK), confirmed that his office had received information regarding the plan. He stated that the consolidation initiated by Danantara could provide momentum for strengthening similar state-owned enterprises.
“We have indeed received or have been informed of Danantara’s plan to comprehensively consolidate similar companies under its supervision, both in the financial and non-financial sectors,” Mahendra said.
He explained that the merger of entities would not only pool resources, but also expand the scope and increase the scale of the business.
“In turn, this could also increase the competitiveness, scope, and size of these companies if consolidation is carried out,” he explained.
However, Mahendra emphasized that the plan is still in the preparation stage and will soon enter implementation.
“During the operational or implementation phase, we continue to monitor and oversee developments,” he said.
Danantara’s Chief Operating Officer (COO), Dony Oskaria, explained that consolidation will be implemented across various sectors, including logistics and insurance. In the logistics sector, there are currently 18 state-owned enterprises (SOEs) that need to be strengthened and will be merged into one large company to be more competitive in the market.
“What was previously 18 logistics companies will become one logistics company with a large scale, competitiveness, and the ability to compete. It will also provide significant added value for Danantara,” said Dony.
Meanwhile, in the insurance sector, Danantara has conducted a fundamental business review of 16 state-owned enterprises operating in similar sectors. As a result, these companies will be “aligned” or “streamlined” and grouped into three broad categories: life insurance, general insurance, and credit insurance.
If realized, this step is believed to change the business landscape of state-owned enterprises in Indonesia, creating entities that are more efficient, have stronger capital, and are ready to compete at the global level.
