By: Dhita Karuniawati )*
The transformation of State-Owned Enterprises (SOEs) in recent years has begun to show increasingly tangible results. The reform agenda, which focuses on simplifying corporate structures, strengthening governance, increasing efficiency, and optimizing performance, has brought significant changes to these state-owned companies. This transformation is reflected not only in improved financial performance but also in the increasing contribution of SOEs to supporting national development and strengthening Indonesia’s economic competitiveness.
For years, the challenges faced by SOEs have not only been related to business aspects, but also to organizational complexity, overlapping functions between companies, and the suboptimal utilization of state assets. Therefore, transformation has become a strategic step to ensure SOEs can operate more professionally, adaptively, and with a results-oriented approach.
The results of the transformation are now beginning to be seen through various indicators. A number of SOEs have successfully recorded significant profit growth, increased operational efficiency, and strengthened business fundamentals. This demonstrates that consolidation and governance improvements are not merely administrative changes but have had a real impact on company performance.
The Head of the State-Owned Enterprises Regulatory Agency (BP BUMN) and Chief Operating Officer (COO) of Danantara, Dony Oskaria, stated that the transformation of state-owned enterprises (SOEs) has begun to yield tangible results. He noted that this positive trend is evident in the performance of various state-owned enterprises through mid-2026, which showed significant improvement compared to the previous period. He also believes that this success demonstrates that the transformation is on the right track and needs to be consistently maintained.
Several state-owned enterprises (SOEs) are concrete examples of this success. Based on their performance report through May 2026, PT Pelabuhan Indonesia (Pelindo) recorded a significant profit increase of IDR 2.01 trillion, a 94 percent increase compared to the same period the previous year.
Meanwhile, Pupuk Indonesia Group also posted a net profit surge of IDR 6.70 trillion, a 230 percent year-on-year increase, demonstrating the company’s growing competitiveness. This achievement indicates that the transformation has not only improved corporate administration but also sustainably increased productivity and profitability.
This success is inseparable from the government’s consolidation strategy for various SOEs. Simplifying the company’s structure allows for faster decision-making, more effective coordination between business units, and a reduction in previously inefficient operational costs. With a more streamlined organization, the company can focus more on carrying out core business functions while improving services to the public.
In addition to organizational simplification, the transformation also strengthens a culture of good corporate governance. Transparency, accountability, and data-driven decision-making are the main foundations of current SOE management. This approach is crucial to ensure that every company policy is truly based on business needs and real-world conditions.
Dony Oskaria also emphasized the importance of maintaining the consistency of the transformation by strengthening governance and providing information to the public based on data, facts, and actual conditions. This approach is considered crucial for maintaining public trust and ensuring that each transformation step can be objectively evaluated.
The transformation also has a positive impact on public services. As companies managing various strategic sectors, from energy and logistics to transportation and finance to food, SOEs play a crucial role in maintaining national economic stability. As these companies become more financially and operationally sound, their ability to provide quality services to the public also improves.
On the other hand, the resulting efficiencies enable SOEs to allocate resources more optimally to support various government priority programs. Investments in infrastructure, industrial downstreaming, food security, energy transition, and digital transformation become easier when companies are in good health.
Transformation also strengthens Indonesia’s attractiveness to investors. Increasingly professional and transparent governance provides a positive signal that state-owned enterprises are managed according to modern business principles. This has the potential to increase the confidence of both domestic and international investors in the national economic outlook.
The successful transformation of state-owned enterprises (SOEs) provides direct benefits to the state. Improved company performance will increase contributions to state revenue through dividends, taxes, and new investments. Thus, the benefits of transformation are felt not only by the companies but also by the community through improved quality development.
Going forward, strengthening collaboration between SOEs, improving the quality of human resources, utilizing digital technology, and optimizing state assets must continue to be priorities. This way, SOEs will not only become financially healthy but also be able to drive sustainable national economic growth.
Ultimately, the transformation of SOEs has demonstrated that targeted reforms can produce real change.
A more streamlined organization, improved governance, healthier financial conditions, and greater contributions to development are proof that transformation is not just a slogan, but a crucial foundation for creating modern, competitive SOEs that provide the broadest possible benefits to the Indonesian people.
*) The author is a Contributor to the Indonesian Strategic Information Study Institute