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EVITA Manthovani, Director General of State Assets at the Ministry of Finance, stated that the transfer of PT Pilar Sinergi BUMN Indonesia (PSBI) shares in PT Kereta Cepat Indonesia China (KCIC)—known as Whoosh—is currently in the finalization stage.
“The transfer of PT PSBI shares to the government via the Ministry of Finance is still in the process of being finalized,” Evita said during the September 2026 edition of the APBN KiTa press conference at the Ministry of Finance office in Jakarta on Friday (9/18), 2026.
The government plans to acquire a 60 percent stake in PT Kereta Cepat Indonesia China (KCIC), or Whoosh, with the process targeted for completion by mid-September 2026.
This share portion was previously held by a consortium of state-owned enterprises (BUMN) through PT Pilar Sinergi BUMN Indonesia (PSBI), while the remaining 40 percent of shares will continue to be held by the Chinese consortium, Beijing Yawan HSR Co. Ltd.
Evita noted that the scheme has been established and discussed in detail. “Naturally, this aligns with expectations, as it does not involve the state budget (APBN) directly in meeting PT PSBI’s obligations,” she said.
To ensure the transfer proceeds in a planned and precise manner, Evita added, the government needs to map out several aspects, including financial, business, operational, and legal considerations.
“Currently, the Ministry of Finance is conducting due diligence and a valuation of the PSBI shares to be transferred,” Evita stated.
In parallel, Evita mentioned that the Ministry of Finance is drafting a presidential regulation (Perpres). These steps are being taken in coordination with the State-Owned Enterprises Management Agency (BP BUMN) and BPI Danantara.
Danantara Indonesia CEO Rosan Roeslani confirmed that the process of transferring the management of PT Kereta Cepat Indonesia China (KCIC) to the Ministry of Finance remains on track, despite the change in the Finance Minister role from Purbaya Yudhi Sadewa to Suahasil Nazara.
Rosan, who also serves as the Minister of Investment and Downstreaming, stated that the change in the Finance Minister position would not disrupt ongoing processes; he noted that he had communicated with Suahasil to ensure that active programs and unfinished tasks could be promptly followed up on. [antaranews]
