The figure is the lowest as compared to the previous years.Jakarta (ANTARA) - The Indonesian government has outlined the target of dividend receipts from state-owned enterprises (SOEs) in the draft 2021 state budget at Rp26.1 trillion, Finance Minister Sri Mulyani Indrawati stated.
"The figure is the lowest as compared to those of the previous years," she noted during a press conference on the draft bill on the 2021 state budget and financial notes here on Friday.
Indrawati attributed the decline to the low financial performance of state-owned companies in the wake of the novel coronavirus disease 2019 (COVID-19) pandemic.
The 2021 financial notes point to state-owned companies in the transportation, tourism, and manufacturing industries being the hardest hit by the COVID-19 pandemic.
The net profit by state-owned companies is expected to plunge, thereby affecting the amount of dividends distributed among shareholders.
To optimize dividend receipts from state-owned companies in 2021, the minister highlighted various steps to be taken by the government, including maintaining profitability and liquidity by taking into account the profit rate, funding capacity, and solvability ratio.
The other steps entail maintaining investors' perception that may potentially lower the market value of state-owned companies listed at the stock exchange, adjusting regulations and agreements binding state-owned companies, and setting dividends more selectively to strike a balance between the state budget requirements and the realization of state-owned companies' programs and the continuation of their businesses.
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Translator: Zubi Mahrofi/Suharto
Editor: Sri Haryati
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