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View all search resultsDanantara will have shut down 250 SOEs by end of July: Prabowo
In a plenary cabinet meeting at the State Palace on Monday, the President hailed Danantara’s progress in reducing the number of state-owned firms over the past 18 months.
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The Wisma Danantara Indonesia building, which houses state asset fund Danantara, is pictured on Jl. Jenderal Sudirman in Jakarta on July 8, 2025. (Antara/Hafidz Mubarak A)
S
tate asset fund Danantara will have closed 250 state-owned enterprises (SOEs) by the end of July under its consolidation drive, President Prabowo Subianto has said.
In a plenary cabinet meeting at the State Palace on Monday, Prabowo hailed Danantara’s progress in reducing the number of state-owned firms over the past 18 months, noting they numbered 1,077 when he took office.
He cited Danantara’s claim that the closures had saved Rp 50 trillion (US$2.7 billion) in overhead costs, including director and commissioner salaries, rental fees and expenses on electricity, transportation and meetings.
By the end of this year, the President aims to reduce the number of SOEs to just 350 firms.
“By Dec. 31, I believe, the amount of potential savings can increase. It can reach nearly Rp 70 trillion to Rp 80 trillion,” Prabowo was quoted as saying in a press release.
He argued that through Danantara, state assets that were previously scattered and difficult to monitor were now well consolidated.
Read also: Layoff-free SOE overhaul deemed 'unrealistic'
