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Bangkok Post
Bangkok Post
Business

Indonesia to close over 750 state-owned enterprises

Prabowo Subianto Indonesia Jakarta
Indonesian President Prabowo Subianto, left, gestures as he delivers his annual state of nation address in front of the members of the Parliament, while Vice President Gibran Rakabuming Raka sits next to him, ahead of the country's 81st Independence Day anniversary, in Jakarta, Indonesia, on Friday. (Photo: Reuters)

JAKARTA — The Indonesian government will close more than 750 state-owned enterprises by year's end, President Prabowo Subianto said Friday, mulling the possibility of a special court to investigate "unproductive" boards.

"There are far too many unproductive state-owned enterprises, always reporting losses while claiming profits -- those profits are just made up," Prabowo said in his state of the nation address to parliament.

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