Danantara Financial Report Has Not Yet Been Released, Dony Oskaria Explains the Cause

JAKARTA - The head of BP BUMN Dony Oskaria explained the reason why the Danantara financial statements had not been published. According to Dony, the report is a consolidation of all SOEs and is the first time it has been carried out.

Dony delivered the explanation at the Presidential Palace Complex, Jakarta, Friday, July 31.

"Danantara's financial statements are the result of consolidation rather than SOEs," said Dony.

He said the public needed to understand that the consolidation report was different from the report of each SOE company. In consolidation, inter-company transactions must be eliminated so that they are not recorded twice.

A consolidated report is a combined financial report of many companies in a business group.

"The consolidation report means that there will be an elimination process between companies. Because, the state-owned enterprises were separated, not one holding," he said.

Dony gave an example of a transaction between Pertamina, Bank Mandiri, and PLN. If everything has been included in one consolidation, transactions between SOEs must be adjusted.

"Antar Pertamina, Mandiri, PLN. This will later be an elimination process because the assets are recorded individually," said Dony.

According to Dony, the process takes time because the number of SOEs that are consolidated is very large.

"Imagine friends, you can imagine that each of the thousand SOEs is eliminated," he said.

Dony emphasized that the reports of each SOE could still be viewed individually. However, the combined report requires a longer technical process.

He ensured that the process was carried out transparently.

"Basically everything will be very transparent. There is nothing to worry about," said Dony.

Dony said that a pre-audit process was also being carried out by the Financial Audit Agency or BPK. Previously, Danantara had prepared an unaudited report.

Unaudited means the report has not been officially audited.

According to Dony, the first year was the most complicated stage because the government had to draw up a pattern and chart of accounts. The process was assisted by Big Four financial consultants.

"This is the first time we have a consolidated report for all of our SOEs. So the process is very careful, detailed," he said.

Dony said that after the pattern of reports was found, the process in the following year would be easier because it could be entered into the system.