"The 2012 net profit is lower than the target due to a shortfall in profit from a number of state firms` businesses, particularly in the plantation, electricity and wholesale sectors," the ministry`s secretary, Wahyu Hidayat, said.Jakarta (ANTARA News) - The State Enterprises Ministry said 141 state-owned companies are predicted to post a combined net profit of Rp134.568 trillion this year, falling a short of the target of Rp144.27 trillion.
"The 2012 net profit is lower than the target due to a shortfall in profit from a number of state firms` businesses, particularly in the plantation, electricity and wholesale sectors," the ministry`s secretary, Wahyu Hidayat, said here on Friday.
He said the prices of such commodities as coal and palm oil declined in the international market this year.
Coal price plunged to US$60 per ton in 2012 from US$100 per ton in 2011, while crude palm oil price plummeted to US$700 per ton in 2012 from US$1,200 per ton in 2011, he said.
The CPO production of state plantation companies did not fall but a shortfall in the price of the commodity reduced their revenue, he said.
The same was also true with the revenue of state mining companies, he said.
In 2012 state electricity company PT PLN also saw a decline in its profit due to the application of new accounting system and exchange rate losses, he said.
He said Rp24.07 trillion of the projected net profit of Rp134.57 trillion this year would be contributed by state oil and gas company Pertamina, Rp2.9 trillion by PLN, Rp43.87 trillion by publicly-listed state banks and Rp39.45 trillion by non-bank publicly listed state firms.
In 2012, the 141 state firms recorded combined income of Rp1,555.29 trillion, well above the target of Rp1,441.04 trillion set in their business plan.(*)
Editor: Heru Purwanto
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