State-owned enterprises of Indonesia

In

Aside from SOEs, there are also provincially- or municipally-owned corporations, locally known as Badan Usaha Milik Daerah (BUMD). The primary difference between BUMNs and BUMDs is the ownership of the enterprise, whereas BUMNs are controlled by the Ministry of State Owned Enterprise while BUMDs are directly controlled by the local government. BUMDs roles are similar with BUMNs, with heavy emphasis on providing goods or services to the local community. In addition, there are also village-owned enterprises which are run by village governments.

History

Dutch colonial era

During the Dutch colonial era, the government had a monopoly on the opium, pawnbroking (nationalized on 1 April 1901), posts (including the Post Office Savings Bank), telegraph and telephone industry, as well as owning most of the railways and electric utilities. They are managed by the Department of State-Owned Enterprises (Dutch: Department van Gouvernementsbedrijven).

Post-independence

By the end of the Dutch–Indonesian Round Table Conference, the Indonesian government had a major or complete ownership on the public utility, buses, railways, banks and communications.

With the beginning of Guided Democracy in Indonesia, many Dutch-owned companies, or Indonesian branches of Dutch companies, were nationalized (see Nationalized Dutch companies below).

During the New Order, the nationalized companies were still state-owned. Some of the companies were listed in the Jakarta Stock Exchange later on.

Today the largest banks in Indonesia are mostly state-owned.^{[citation needed]}

List of foreign companies nationalized during Guided Democracy

This list is incomplete; you can help by adding missing items. (October 2019)

• Bank Mandiri was a merger of:
  • Bank Ekspor Impor Indonesia (BankExim), formerly the Indonesian branch of
    Nederlandsche Handels Maatschappij which eventually becomes ABN AMRO
  • Bank Bumi Daya (formerly Bank Umum Negara), the result of the nationalizations of
    Nationale Handelsbank and the Chartered Bank of India, Australia and China (now Standard Chartered; the latter returning to Indonesia after the New Order
    went into power)
  • Bank Dagang Negara, formerly
    Escomptobank, also predecessor to ABN AMRO
  • Bank Pembangunan Indonesia (Bapindo), state-owned since establishment
• Bank Rakyat Indonesia was known as
  • 1845: "Purwokertoan Assistance and Savings Bank for Native Aristocrats" (Dutch: De Purwokertosche Hulp- en Spaarbank der Inlandsche Hoofden).
  • 1934-42: "General Public Credit Bank" (Dutch: Algemene Volkskredietbank),
  • 1942-45: Shomin Ginkō (庶民銀行, "Common People's Bank") during Japanese occupation
• Bank Tabungan Negara was known as
  • 1897-42: "Post Office Savings Bank" (Dutch: Postspaarbank)
  • 1942-45: Savings Office (
    Nihon-shiki
    :Tyokin-kyoku)
  • 1945-63: "Post Office Savings Bank" (Indonesian: Bank Tabungan Pos)
• Insurance industry:
  • NV Zee-en Brandassurantie Maatschappij van 1851, NV Zee-en Brandassurantie Maatschappij van 1861, NV Tweede Zee-en Brandassurantie Maatschappij van 1861, NV Zee-en Brandassuratie Maatschappij van 1865, NV Tweede Zee-en Brandassurantie Maatschappij van 1865, and NV Javasche Verszekerings Agenturen Maatschappij were consolidated into PN Asuransi Kerugian Eka Chandra (eventually merged into Jasindo, part of Indonesia Financial Group).^[4][5]
  • NV Assurantie Maatschappij Jakarta, NV Assurantie Kantoor Langeveldt-Schroder, NV Assurantie Kantoor O.W.J. Schlencker, NV Kantoor Asuransi Kali Besar, PT Maskapai Asuransi Arah Baru, Firma Blom & van der Aa, Firma Bekouw & Mynssen, and Firma Sluyters & Co were consolidated into PN Asuransi Kerugian Eka Karya and eventually merged into
    PT Jasa Raharja, part of Indonesia Financial Group).^[4][6]
  • NV Nederlandsche Lloyd and NV Maskapai Asuransi dan Administrasi Umum Nusantara Lloyd were consolidated into PN Asuransi Kerugian Eka Nusa and eventually merged into PT Asuransi Jasa Indonesia (Jasindo), part of Indonesia Financial Group.[4]^[7]
  • NV Levensverzekering Maatschappy "Nilmij van 1859" (also known as the Indonesian branch of
    Aegon N.V.), NV Levensverzekering Maatschappij van "De Nederlanden van 1845, Onderling Levensverzekering Genootschap "De Olveh van 1879", NV Eerste Nederlandsche Verzekering Maatschappij op het Leven en tegen Invaliditeit, NV Amstleven (Amsterdamse Maatschappij van Levensverzekering), NV Nationale Levensverzekering Bank, Hollandsche Societeit van Levensverzekeringen, NV Levenverzekering Maatschappij "Ons Belang" (Levob), and NV Levensverzekering Maatschappij H.A.V. Bank were consolidated into PN Asuransi Jiwa Eka Sejahtera and eventually becomes PT Asuransi Jiwasraya (Persero).^[8][9]

• Construction industry:
  • NV Architecten-Ingenieursbureau Fermont te Weltevreden en Ed. Cuypers te Amsterdam becomes PN Virama Karya.[10] The company later turned into PT Virama Karya (Persero).
  • Indonesian Electrical and Mechanical Engineers and Contractors (INDEMEC) C.V. formerly Technisch Bureau H&S becomes PN Indra Karya.^[11] The company later turned into PT Indra Karya (Persero).
  • PT Biro Arsitek Job & Sprey/Architectenbureau Job en Sprey NV becomes PN Yodya Karya.^[12] The company later turned into PT Yodya Karya (Persero).
  • Nederlandse Aannemingsmaatschappij NV (now Ballast Nedam) becomes PN Nindya Karya.^[13] The company later turned into PT Nindya Karya (Persero) and is currently a subsidiary of PT Danareksa (Persero).
  • Aannemingsmaatschapij "De Kondor" NV (later IBB-Kondor and KondorWessels and now VolkerWessels) becomes PN Kumala Karya.^[14] The company was dissolved in 1971.
  • Hollandsche Beton Maatschappij (eventually merged into Hollandsche Beton Groep and later acquired by Royal BAM Group) becomes PN Hutama Karya.^[15] The company later turned into PT Hutama Karya (Persero). Hollandsche Beton Groep itself would return in 1970 as Decorient Indonesia; in the early 2020s the company (then called BAM Decorient Indonesia) would be bought out by its management and renamed Decorient Partaya Indonesia.
  • Royal Adriaan Volker Group (now VolkerWessels) trading as Volker Aannemingsmaatschappij NV in Indonesia, becomes PN Waskita Karya.^[16] The company later turned into PT Waskita Karya (Persero).
  • NV Pembangunan Perumahan becomes PN Pembangunan Perumahan and eventually turned into PT Pembangunan Perumahan (Persero).^[17]
  • NV Technisch Handelmaatschappij Vis & Co. becomes PN Wijaya Karya.^[18] The company later turned into PT Wijaya Karya (Persero).
  • Architecten, Ingineurs en Aannemersbedrijf Associatie Selle en de Bruyn, Reyerse en de Vries NV becomes PN Adhi Karya.^[19] The company later turned into PT Adhi Karya (Persero).
  • NV "Ingenieurs Bureau Ingenegeren-Vrijburg" becomes PN Indah Karya.^[20] The company later turned into PT Indah Karya (Persero).
  • NV Air Bersih
• Imtech), Lindeteves
  , and Geo Wehry.
• PT Sang Hyang Seri from Pamanukan & Tjiasem Lands (since 1940, nationalized at 1957).
• PT Rajawali Nusantara Indonesia from Kian Gwan (nationalized at 1961).
• Perum
  Nihon-shiki
  : Zidôsha Sôkyoku).
• PT Garuda Indonesia
  • 1928-42: Royal Dutch Indies Airways (Koninklijke Nederlandsch-Indische Luchtvaart Maatschappij)
  • 1947-49: KLM Interinsulair Bedrijf
• Indonesian Railway Company
  (Kereta Api Indonesia)
  • 1963-42: Nederlandsch-Indische Spoorweg Maatschappij
  • 1875-42: Staatsspoor-en-Tramwegen in Nederlandsch–Indië
  • 1945-58: Staatsspoorwegen Verenigde Spoorwegbedjrif (SS/VS) (fully nationalized at 1958)
• Pengangkutan Penumpang Djakarta
  • 1925–42,45-54 : Bataviache Verkeers Maatchappij (BVMNV)
  • 1942-45: Jakarta Tram (ジャカルタ市電, Jakarta Shiden)