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The Shareholders' Composition of PSBI, the KCIC Consortium from Indonesia.

Erlina Fury Santika 14/02/2026 20:00 WIB

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According to the BEI data, the shareholder composition of PSBI is largely controlled by PT KAI. PSBI is a consortium of KCIC from Indonesia.

The Shareholder Composition of PT Pilar Sinergi BUMN Indonesia/PSBI, a KCIC Consortium from Indonesia (2026*)

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The Shareholder Composition of PT Pilar Sinergi BUMN Indonesia/PSBI, a KCIC Consortium from Indonesia (2026*)

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The Indonesia-China High-Speed Railway (KCIC) company that operates Whoosh is run by a joint venture or consortium of Chinese and Indonesian companies.

From China, there is a consortium of railway companies, Beijing Yawan HSR Co. Ltd. While the Indonesian consortium is made up of state-owned enterprises that form PT Pilar Sinergi BUMN Indonesia (PSBI).

At the initial stage of KCIC's establishment, the Indonesian consortium held a 60% stake, while China held a 40% stake.

According to a report by Katadata, the largest shareholder of the PSBI consortium is PT Kereta Api Indonesia, with a 51.37% stake as of February 13, 2026.

Here's a breakdown of the PSBI shareholder composition:

PT Kereta Api Indonesia: 51.37%
PT Wijaya Karya: 39.12%
PT Perkebunan Nusantara I: 8.30%
PT Jasa Marga: 1.21%.

As for the shareholder composition of Beijing Yawan HSR Co. Ltd.:

CREC: 42.88%
Sinohydro: 30%
CRRC: 12%
CRSC: 10.12%
CRIC: 5%.

Whoosh Debt Payment

The Presidential Palace previously stated that discussions about the debt repayment scheme for the Jakarta-Bandung Whoosh high-speed train project have entered the finalization stage.

State Secretary Minister Prasetyo Hadi signaled that the Whoosh debt would be paid using funds from the State Budget (APBN).

Minister of Finance Purbaya Yudhi Sadewa responded to this. He admitted that he was involved in the discussions about the Whoosh debt.

However, when asked about his approval of paying the Whoosh debt using APBN, Purbaya said the Ministry of Finance would consider the requirements requested by Chinese creditors.

"We'll look at the conditions from China, what their requirements are. If I'm the one paying, I'll [go] to China. But I don't know yet, I'll double-check again," said Purbaya.

(Read Katadata: Purbaya Denies Being Involved in Whoosh High-Speed Train Debt Discussions)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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The Shareholders' Composition of PSBI, the KCIC Consortium from Indonesia.

The Shareholders' Composition of PSBI, the KCIC Consortium from Indonesia.

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The Shareholders' Composition of PSBI, the KCIC Consortium from Indonesia.

The Shareholders' Composition of PSBI, the KCIC Consortium from Indonesia.

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