BPI Danantara to merge state-owned construction firms

The Indonesian Investment Management Agency, BPI Danantara, is actively restructuring and merging state-owned enterprises (BUMN) to increase efficiency, following directives from President Prabowo Subianto. Chief Operating Officer Dony Oskaria stated that the agency will prioritize the merger of construction-sector companies, specifically PT PP Tbk (PTPP), PT Adhi Karya Tbk (ADHI), PT Brantas Abipraya, and PT Nindya Karya, as these processes are considered relatively straightforward.

In contrast, PT Wijaya Karya (Persero) Tbk (WIKA) and PT Waskita Karya (Persero) Tbk (WSKT) will undergo a more complex restructuring process. These two companies require significant efforts to optimize assets and reduce debt burdens before any merger can occur. Additionally, Danantara plans to initiate mergers within the insurance sector in the coming months.

Regarding financial transparency, Danantara is expected to release its 2025 fiscal year financial report in October 2026. The Audit Board of Indonesia (BPK) has already commenced examinations of the agency's consolidated financial statements, including its management subsidiaries, to ensure accountability and proper governance.