Keyword: "Danantara Indonesia"

Danantara plans to merge 1,068 SOEs into about 221 entities within the next three to four years. At present, those companies are managed under roughly 50 holding firms.

Positive signs have emerged from restructuring efforts at several large SOEs, including national airline Garuda Indonesia, Krakatau Steel (KRAS) and Timah Tbk (TINS), helping improve their performance and market standing, State asset fund Danantara Indonesia said.

The new sovereign fund is Indonesian President Prabowo Subianto's key vehicle to achieve his 8% growth target by 2029 by managing all shares of state-owned enterprises and reinvesting the dividends in commercial projects.