It is an extraordinary achievement.
Jakarta (ANTARA) - The total net profit of Indonesian state-owned enterprises (SOEs) reached Rp126 trillion (US$8.6 billion) in 2021, SOEs Minister Erick Thohir has informed.

"Meanwhile, the total revenue of SOEs was Rp1,983 trillion (US$136.4 billion), which was equivalent to 99 percent of the state budget (APBN) revenue," he said during a working meeting with Commission VI of the Indonesian House of Representatives (DPR RI) here on Tuesday.

The improving performance of corporations due to the SOEs transformation program contributed positively to the country, he noted.

The total taxes, dividends, and non-tax state revenues collectively earned by the enterprises reached Rp371 trillion (US$25.5 billion), he informed.

He said he is optimistic that the total dividends will return to their normal value after the pandemic ends.


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The minister informed that the profit in 2021 reflected a massive increase compared to 2020, when it was recorded at only Rp13 trillion (US$894.4 million).

"It is an extraordinary achievement," he remarked.

He proposed an increase in the 2023 SOEs Ministry budget by Rp79.7 billion (US$5.48 million) from Rp232 billion (US$15.96 million) to the House.

The indicative budget ceiling given to the ministry was the smallest compared to all ministries, however, he emphasized that his ministry will still work efficiently and carefully.

This is especially considering that the SOEs Ministry has been tasked with ensuring the availability of job opportunities, providing assistance to MSMEs, as well as maintaining national strategic projects, he added.


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Member of Commission VI of DPR RI, Mufti Anam, lauded the ministry’s achievement in improving the performance of state-run companies in the midst of the pandemic.

He said that the ministry has managed to exceed the targets.

"The dividends we received exceeded the target of Rp35 trillion (US$2.4 billion) as they reached Rp41 trillion (US$2.8 billion)," he remarked.

Meanwhile, another member of the commission, Andre Rosiade, praised the minister for succeeding in consolidating the SOEs’ financial statements for the first time.



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Translator: Sugiharto Purnama, Uyu Liman
Editor: Fardah Assegaf
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