Jakarta, Oct. 8 -- Consolidated net profit of Indonesian state-owned enterprises (SOEs) is projected to reach at least Rp360 trillion (approximately US$20.11 billion) by 2026, according to sovereign investment agency Danantara.

Speaking in Jakarta on Thursday, Danantara Chief Operating Officer Dony Oskaria stated that ongoing structural improvements across state firms are delivering strong financial performance.

"The improvements in our SOEs are yielding extraordinary results. I expect that by 2026, we can close with a net income of at least Rp360 trillion. This is a massive profit figure," Dony, who also serves as Head of the SOE Regulatory Body (BP BUMN), said.

He expressed confidence that the projected profit would serve as a crucia...