DPR Asks Danantara To Avoid Conglomeration Models In SOE Transformation

Illustration: Photo: Doc. ANTARA

JAKARTA - Member of Commission VI DPR RI Ahmad Labib reminded Danantara Indonesia's operational holding, PT Danantara Asset Management (Persero) to avoid conglomeration models in carrying out BUMN consolidation and transformation programs.

According to Labib, the conglomerate model previously implemented by state-owned companies was not productive and instead became a source of inefficiency in the past.

"Please, in the process of consolidating and transforming SOEs into Danantara, we really avoid the model of conglomeration which actually increases inefficiency, not aiming to diverge the business," he said in a working meeting with Danantara, Wednesday, July 23.

According to Labib, the formation of BUMN subsidiaries is also not based on strong business needs.

This condition, he said, is different from the private sector which formed new entities for the purpose of strengthening business expansion and long-term efficiency.

"We have a lot of subsidiaries (BUMN) who previously practiced conglomeration but instead became gaps in inefficiencies and leaks. So, please really avoid this later," said Labib.

Labib also assesses that BUMN children who currently exist need to be consolidated and transformed so that gaps do not appear again.

"If necessary, what already exists is consolidated and transformed so that there will be no more gaps in sins that arise from such practices," he said.

Previously, Danantara Chief Operating Officer (COO) Dony Oskaria said the operational holding of Danantara Indonesia, PT Danantara Asset Management (Persero) or DAM had prepared 22 strategic work programs that would be carried out within five months.

Dony explained that this program is part of efforts to optimize the BUMN portfolio which is divided into three clusters, namely restructuring, consolidation, and development.

In the field of restructuring, he continued, DAM highlighted four main sectors including airline businesses, steel manufacturing infrastructure, high-speed rail projects and the insurance sector.

"We are also grouping into work programs related to streaming and business consolidation," said Dony in a working meeting and hearing with Commission VI of the DPR, Wednesday, July 23.

Then, continued Dony, Danantara will also consolidate the BUMN business. This consolidation will target nine SOE sectors, including the work (construction) business, the fertilizer business, hospitals, hotels, sugar, downstream oil, insurance, asset management and industrial areas.

Dony bilang, delapan program lainnya difokuskan pada pengembangan bisnis baru dan potensi sektor dengan prospek jangka panjang.

DAM akan mendorong akselerasi pada bisnis koperasi, pangan, baterai, semen, perbankan syariah, telekomunikasi, dan juga industri galangan kapal.

Dalam menjalankan program tersebut, Dony mengaku, telah menyelesaikan tata kelola pendukung bisnis dalam organisasi Danantara Aset Manajemen.

“Kemudian juga menyelesaikan prosedur di bidang keuangan, di bidang manajemen risiko dan legal untuk mendukung operasional dan antara aset manajemen,” ucapnya.

Dony said eight other programs were focused on developing new businesses and potential sectors with long-term prospects.

DAM will encourage acceleration in the cooperative, food, battery, cement, sharia banking, telecommunications, and also the shipbuilding industry.

In carrying out the program, Dony admitted that he had completed the governance of business support in the Management Asset Aerospace organization.

"Then also complete the procedure in the financial sector, in the field of risk management and legal to support operations and between management assets," he said.