SOE Profits Seen Rising to Rp 350 Trillion in 2026 as Danantara Drives Consolidation

JAKARTA, Investortrust.id — Indonesia projects collective profits of state-owned enterprises to reach Rp 340 trillion to Rp 350 trillion in 2026 in Jakarta on Thursday, Jan 29, 2026 as consolidation and governance reforms under Danantara accelerate to strengthen efficiency, competitiveness, and long-term sustainability, a move expected to significantly lift returns compared with the prior year.

The target marked a sharp increase from the projected 2025 profit range of Rp 280 trillion to Rp 285 trillion, reflecting confidence in restructuring efforts across the state sector.

Dony Oskaria, head of the State-Owned Enterprise Management Agency and chief operating officer of Danantara, said the profit target had been formally incorporated into the 2026 SOE work plan.

“2026, we included profits in our work plan at around Rp 350 trillion, but I must expect profits to be higher than that,” Dony said in a statement on Thursday.

He said performance gains were being driven by Danantara’s role in ensuring SOEs operated more effectively, efficiently, and professionally, in line with President Prabowo Subianto’s policy direction delivered at the World Economic Forum 2026 in Davos.

According to Dony, the transformation extended beyond structural consolidation and began with a comprehensive fundamental review of every SOE.

“We are not merely carrying out consolidation, but conducting a fundamental review of all state-owned enterprises,” he said.

The assessment process covered business models, cost structures, market analysis, industry conditions, and internal capabilities, with the results serving as the basis for consolidation and portfolio strengthening decisions.

“It is not about arbitrarily choosing which companies to consolidate. The process is carefully designed to ensure SOEs achieve sustainable competitiveness,” Dony said.

As an example, consolidation in the insurance sector was set to reduce the number of state-owned insurers from 15 entities to just three, with the process expected to accelerate in 2026.

“Currently we have 15 SOE insurance companies. In 2026, we will push consolidation so that only three remain,” Dony said.

Dony, who also serves as Danantara’s chief operating officer, said SOEs under the holding would be focused on building healthy and sustainable businesses, expressing confidence that the 2026 profit target could be achieved through strong commitment and synergy.

“With hard work and a shared spirit, we are determined to make SOEs under Danantara companies we can all be proud of,” he said.