Danantara reports Rp135 trillion in impairments as it restructures state firms
The Indonesian investment agency aims to reduce its portfolio to fewer than 200 companies and prepare selected businesses for listings in 2029 and 2030.
Indonesia’s Danantara has recorded about Rp135 trillion in asset impairments over the past 16 to 18 months to correct accounting at state-owned enterprises, chief operating officer Dony Oskaria said on 26 October 2026.
Speaking at Wisma Danantara, Dony said the adjustments were intended to ensure reported profits reflected the businesses’ actual condition. The investment agency is targeting Rp360 trillion in net profit for 2026.
Dony also outlined changes to a portfolio of 1,074 companies. About 200 had been consolidated, 213 liquidated and 208 divested because they were considered too small for state ownership. Another 15 were undergoing financial restructuring, including PT Krakatau Steel Tbk and PT Garuda Indonesia Tbk.
He said 364 companies had closed so far. By the end of 2026, Danantara aims to have closed or consolidated at least 750 through mergers, divestments and liquidations, bringing the number of state-owned companies below 200.
Dony said governance was important because Danantara funds its investments with dividends from state-owned enterprises. It expects about Rp200 trillion in dividend payments for investment in 2026.
The next stages focus on workforce development and corporate culture in 2027, followed by technological innovation in 2028 and value creation in 2029. Dony said selected healthy businesses would be prepared for stock market listings in 2029 and 2030. Danantara aims to hold only companies it considers world-class by 2030.
