Danantara Draws Accountability Scrutiny as SOE Losses Top Rp 28 Trillion

1 articles · Updated · The Jakarta Post · Jun 3

More than a year after its launch, Danantara is facing sharper questions over transparency and effectiveness as it still has not shown meaningful progress in restructuring Indonesia’s state-owned enterprises.
Danantara intensified those concerns by calling itself a sui generis body outside normal government structures and saying it only needs to submit annual financial reports to the Audit Board, a narrower disclosure stance than peers such as Temasek and Norway’s fund.
2025 SOE results underscored the pressure: BRI profit fell 5.26% and BNI 6.6%, while only Bank Mandiri posted growth at 0.9%.
BRI still lifted its dividend payout ratio to 92% from 86%, sending payments to Rp 52.1 trillion from Rp 31.4 trillion—supporting state revenue and Danantara funding but raising balance-sheet sustainability concerns.
Outside banking, MIND ID profit dropped 27.9%, Telkom profit fell 20.5%, Garuda lost Rp 5.4 trillion, and four major construction SOEs posted combined losses of about Rp 28 trillion, widening the debate over Indonesia’s broader economic management.