Four Indonesian SOEs at Risk of Delisting

The Indonesia Stock Exchange (IDX) has listed four major state-owned enterprises (SOEs) as candidates for potential delisting due to significant financial and legal challenges affecting their sustainability. The companies in question, PT Indofarma Tbk, PT Waskita Karya (Persero) Tbk, PT Wijaya Karya (Persero) Tbk, and PT PP Properti Tbk, are struggling under financial strains and insufficient recovery efforts. Delisting is further prompted by protracted trading suspensions exceeding 24 months and inadequate responses to warnings. These issues reflect broader challenges faced by the SOEs, including market weaknesses and difficulties in securing new contracts over recent years. The sectors affected include pharmaceuticals, construction, and real estate. Addressing these challenges calls for comprehensive reforms and strategies to restore confidence in state-owned enterprises.