Indonesia’s Danantara Eyes Major Overhaul of 800 State Firms Via Mergers, 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.”
“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% 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 $1 trillion in assets.”