The figure represented a 36.44 percent increase from the same period in 2010 when the figure was Rp25. 34 trillion, he said.
"Of the overall profit of Rp69.88 trillion made by a total of 142 state-owned enterprises in the first half of 2011, 49.47 percent was contributed by the 18 publicly listed companies," the minister said here Thursday.
Mustafa said the financial performance of state-owned enterprises was experiencing significant growth every year.
During the first half of 2011 PT Bank BRI Tbk recorded the highest net profit of Rp 6. 82 trillion, followed by PT Bank Mandiri Rp6. 33 trillion, PT Telkom Rp5. 94 trillion, PT PGN Rp3. 23 trillion, PT Bank BNI Rp2. 73 trillion, PT Semen Gresik Rp1. 87 trillion, PT Bukit Asam Rp1. 61 trillion, PT Krakatau Steel Rp1. 09 trillion, PT Aneka Tambang Rp996. 71 billion.
Furthermore, PT Jasa Marga recorded Rp753 billion , PT Timah Rp651.88 billion, PT Bank BTN Rp480.49 billion, PT Wijaya Karya Rp139.09 billion, PT Housing Development Rp44.99 trillion, PT Kimia Farma Rp36.96 billion, PT Adhi Karya Rp21.63 billion and PT Indofarma Rp6, 27 billion.
In the meantime one company, namely PT Garuda Indonesia, made a loss of Rp185 billion.
Mustafa said his ministry was always pushing state-owned enterprises to "go public" because experience had shown that a company`s financial performance always tended to improve after it had gone public or become listed in the stock market.
"Privatization through an IPO (Initial Public Offering) can encourage the principle of transparency and implementation of good corporate governance in each enterprise," said Mustafa.
He added that by going public a company would become more open so that it was easier for the public to supervise or watch over the company`s operations.
Openness will lead to higher credibility and accountability, said Mustafa.
In terms of stock performance, the 18 publicly listed state enterprises controlled 26.16 percent of market capitalization that reached about Rp862. 07 trillion of the total Rp3.337 trillion capitalization from 428 listed companies.
Although only 18 companies or about four percent of total listed companies in the Indonesia Stock Exchange, their influence is very significant to the stock transaction.
"The Composite Stock Price Index (CSPI) as the IDX indicator is influenced by the SOE`s stock price movement as the SOE stocks are "blue chip" or leading stocks such as those of Telkom, Bank Mandiri, Bank BRI, PGN, Bank BNI, Semen Gresik, Aneka Tambang," Mustafa said. (*)
Editor: Kunto Wibisono
Copyright © ANTARA 2011
