Strategy to Accelerate SOE Indonesia Restructuring
Benchmarking
On a global scale, the performance of Chinese SOEs that have transformed into world MNCs such as Sinopec and CNP provides a different perspective. They have operated in almost all corners of the world and have transformed into a value creation-oriented corporation, not just geographic market expansion. The dominance of Chinese SOEs in the Fortune 500 is powerful.
Likewise, if you look at the performance of the Temasek Group. The orientation is delivering sustainable value over the long term. This means that having a competitive and long-term-oriented company is highly guarded.
For example, the banking NIM level in Singapore is the lowest in ASEAN at below 1% while fee-based income is around 40%, compared to Himbara banking NIM, which has an upper limit of 7% with an average fee-based income level of around 20%.
Taking into account the current situation of BUMN holding companies and several benchmarking studies carried out, optimizing the management of BUMN holdings in the future needs to pay attention to several things.
First, institutionally, it is necessary to strengthen the role of holding companies so that they can move more flexibly and reduce bureaucratic obstacles. The role of KBUMN in the long term can be focused on the regulatory role and reducing the role of execution that can be carried out by the holding company. This means that in the future the role of the BUMN “super holding company” will be greater in carrying out the business execution function
