JAKARTA — Indonesia’s state asset management agency Danantara Indonesia is targeting profit of up to Rp360 trillion in 2026. Danantara Chief Operating Officer (COO) and Head of the BUMN Regulatory Agency (BP BUMN) Dony Oskaria said the figure would surpass the net profit recorded by Singapore’s Temasek Holdings.
Dony said Danantara had so far recorded around Rp330 trillion in profit. He made the statement while comparing Danantara’s performance with that of Temasek.
According to Dony, Temasek recorded net profit of around S$12 billion, equivalent to approximately Rp136 trillion.
“So, in terms of net income size, we are already larger than Temasek. This year, we expect Rp360 trillion, almost twice Temasek’s figure, from Rp136 trillion to Rp360 trillion,” Dony said, as quoted by CNBC Indonesia’s Squawk Box program in an episode titled Danantara BUMN Progress Update 2026 on Monday (Aug. 24, 2026).
Dony said the achievement was important for the public to recognize, arguing that it demonstrated Indonesia’s ability to build and develop companies capable of becoming reliable and competitive in the future.
“This needs to be communicated to the public: we have the ability to build companies that will become highly reliable companies in the future,” Dony said.
However, the figures Dony used to compare Danantara and Temasek differ from those contained in Temasek’s official financial statements.
According to Temasek’s financial report for the fiscal year ended March 31, 2026, the Singaporean investment company recorded group net profit of S$32.4 billion, up from S$23.5 billion a year earlier. Using an exchange rate of Rp13,940 per Singapore dollar, the figure is equivalent to approximately Rp451.66 trillion.
This means the comparison between Danantara and Temasek’s profits needs to be viewed in the context of the reporting period, calculation basis and type of profit being compared.
Meanwhile, Danantara continues to target profit of up to Rp360 trillion this year. The target is part of the agency’s broader effort to improve the performance of state-owned enterprises and strengthen their contribution to Indonesia’s economy.
