Jakarta (ANTARA) – President Prabowo Subianto praised Danantara staff on Friday for restructuring state-owned enterprises, citing sharp profit gains and higher dividends as evidence of improved performance.In his State of the Nation Address in Jakarta, Prabowo said Danantara-led reforms had strengthened SOE management and increased returns for the state.He presented the results during the 2026 Annual Session of the People’s Consultative Assembly (MPR) and joint session of the Regional Representatives Council (DPD) and House of Representatives (DPR).Prabowo cited state-run tin miner PT Timah, whose net profit surged 804.7 percent in the first half of 2026 from a year earlier.PT Timah’s valuation also rose 280 percent in August 2026 from August 2025, following the government’s closure of about 1,000 illegal tin mines in Bangka Belitung.Other SOEs also posted higher profits: Semen Indonesia rose 408.9 percent, Pupuk Indonesia 252.8 percent, Pertamina 86 percent, Pegadaian 84.4 percent, Pelindo 60.4 percent and PTPN 54.4 percent.Prabowo said Garuda Indonesia had returned 20 grounded aircraft to service by June 2026, increasing the national carrier’s fleet to 104 planes.Total SOE profit rose to Rp326 trillion (US$18.3 billion) in 2024 from Rp186 trillion (US$10.4 billion). Dividends increased to Rp142.3 trillion (US$8.0 billion) from Rp85.5 trillion (US$4.8 billion).After accounting for state capital injections, net SOE dividends rose from Rp53 trillion (US$3.0 billion) in 2024 to Rp138 trillion (US$7.8 billion) in 2025.Prabowo expects net dividends to reach Rp200 trillion (US$11.2 billion) this year without additional capital injections, nearly four times the 2024 figure.He said the proceeds are mainly funding downstream projects that process natural resources into higher-value products.Danantara backed 13 projects launched Feb. 6 and another 13 on April 29.The projects include coal-based dimethyl ether, copper and gold, industrial salt and aluminum, and are expected to create tens of thousands of jobs.Prabowo also said SOE profits would help acquire major global companies, strengthening technology, management and market access while improving Indonesia’s position in global supply chains.