Jakarta, Aug. 4 -- Indonesia's sovereign wealth fund Danantara and the State-Owned Enterprises Management Agency (BP BUMN) are finalizing a five-year roadmap to transform state-owned enterprises into more competitive, value-driven companies.

Head of BP BUMN and Chief Operating Officer of Danantara Dony Oskaria said the roadmap would provide a common framework for all state-owned enterprises (SOEs) to strengthen governance, improve business performance, and create long-term value.

"Each of these themes will be implemented across all state-owned enterprises. Consolidation, people development, corporate culture, innovation, and value creation must become our shared direction," Dony said in a statement received in Jakarta on Monday.

Dony c...