JAKARTA - Danantara's Chief Operating Officer (COO) and Deputy Minister of State-Owned Enterprises (BUMN) Dony Oskaria revealed the cause of SOEs going out of business or falling.
He said, almost all closed SOEs have the same root problem.
Dony revealed that one of the reasons was because management was not good. He said poor management must lead to corruption.
"Almost those that are closed are all because of bad management. Whether it's a corruption case, some are engineered, overinvestment, that's definitely because of the management," said Dony at the IKA Fikom Unpad Executive Breaking Meeting for the First Quarter of the Danantara, in the City Forests, Plataran, Jakarta, Wednesday, June 18.
The second cause, continued Dony, was significant financial engineering. The goal is for the company to appear in good condition with a large net profit.
"That's why I always say, I don't really like exaggerated profits, postponed costs just to get a good bottomline, then followed by tantiem. I think there is manipulation that causes the company to fall," he said.
Dony said the manipulation of BUMN's financial performance would make state-owned companies fall. Moreover, coupled with weak supervision
Zaman first If we see that the missing state-owned company is the result of processing that does not have a long vision. Then also weak supervision and so on," he said.
Therefore, continued Dony, with this experience, in the future BUMN-BUMN will always be evaluated. The goal is to avoid SOE bankruptcy.
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Dony said that the evaluation will be carried out on the market of the SOE itself, the competitiveness, types of products and services sold are still relevant, and the financial structure and capability of its management.
"Because it is the CEO who will present it to us the extent of the business plan they created and the roadmap rather than the company. Therefore, we cannot state that what the future will be, but we hope that of course if they are able to make this industry then a competitive industry," he explained.
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