The five companies are insurance company PT Asuransi Jiwasraya, telecommunications operator PT Telekomunikasi Indonesia Tbk, fertilizer company PT Pupuk Indonesia, construction company PT PP and trading company PT Rajawali Nusantara Indonesia (RNI).
A memorandum of understanding was signed here on Thursday by the five companies with Rini witnessing.
"Synergy among state companies is necessary to increase added value and increase the capacity to grow," Rini said.
With the synergy , PT Asuransi Jiwasraya will provide services in life insurance for the employees of the other four companies.
President Director of Jiwasraya Hendrisman Rahim said the synergy in the form of life insurance service with other four state companies is expected to improve the welfare of their employees and workers.
"The four companies have large number of workers. Telkom alone has 30,000 workers and Pupuk Indonesia around 10,000 workers," he said.
Under the MOU, Telkom would provide services in information and communication technology for Jiwasraya, and with PT PP, Jiwasraya form synergy in the optimization of assets of Jiwasraya in a number of locations .
Jiwasraya has assets valued at Rp3 trillion-Rp4 trillion not optimized and in cooperation with PP the assets could be utilized, he said.
With RNI ,Jiwasraya cooperates in investment to increase the business capacity of RNI in all sector, he said.
Jiwasraya has the largest share of life insurance in Indonesia.
By August 2016, Jiwasraya recorded Rp12 trillion in premium, up 190 percent from Rp5.5 trillion in 2015 . It has assets valued at Rp34 trillion by August, 2016, up 150 percent from Rp23 trillion in 2015. (*)