Jakarta – The Daya Anagata Nusantara Investment Management Agency (Danantara) has officially launched a strategic initiative to restructure state-owned enterprises (SOEs), reducing their number from 888 to fewer than 200.
This move is expected to enhance the efficiency, focus, and global competitiveness of Indonesia’s SOEs.
Danantara Chief Operating Officer (COO) Dony Oskaria explained that the consolidation will follow four phases, beginning with a comprehensive review of each entity’s business model.
“We currently have 888 companies, ranging from holding companies to subsidiaries, all of which we have mapped into an industry matrix,” said Dony.
He pointed out that many companies operate similar business models but are too small to compete effectively, such as 18 logistics firms and 16 insurance firms.
As such, Danantara aims to consolidate these entities into stronger, more focused companies.
“This will lead to business consolidation—from 888 companies down to fewer than 200 robust and competitive entities,” he stated.
The second phase involves business consolidation, including the formation of holding companies in sectors such as hospitality, logistics, and insurance. The third phase consists of rewriting the business roadmaps and revenue models for each entity.
The final phase focuses on value creation, determining which companies will be privatized and which will remain under state control.
Dony emphasized that these measures would not be possible without Danantara’s role as the principal shareholder.
“We can do this because we are the owner. All it takes is to execute mergers and acquisitions within our own companies,” he explained.
Meanwhile, Member of Commission VI of the House of Representatives (DPR RI), Firnando Ganinduto, welcomed the initiative.
“Danantara is a major breakthrough to accelerate SOE transformation, making them more adaptive, competitive, and globally oriented,” he said.
Firnando also stressed the importance of transparent and accountable governance.
“Capital injections must be selective and based on thorough feasibility studies,” he asserted.
He assured that the DPR will conduct strict oversight to ensure that Danantara’s investments truly contribute to national economic growth.
