Companies
The losses widened from Rp 4.9 trillion recorded for the whole of last year, according to the latest financial report released by state-owned railway company PT Kereta Api Indonesia (KAI).
Daylight express: A Whoosh high-speed train passes through the Ngamprah tunnel on July 31, 2025, in West Bandung regency, West Java. (Antara/Abdan Syakura)
PT Pilar Sinergi BUMN Indonesia (PSBI), the consortium of state-owned enterprises (SOEs) that holds Indonesia's stake in the Jakarta-Bandung high-speed railway, known as Whoosh, posted mounting losses of Rp 5.1 trillion (US$282.5 million) in the first half of this year.The loss widened from Rp 4.9 trillion recorded for the whole of last year, according to the latest financial report released by state-owned railway company PT Kereta Api Indonesia (KAI).
PSBI owns a 60 percent stake in Whoosh operator PT Kereta Cepat Indonesia China (KCIC) and therefore bears a corresponding 60 percent share of its losses, while the remaining 40 percent is held by a consortium of Chinese state-owned companies.
