Jakarta | The Ministry of State-Owned Enterprises (BUMN) has set a net profit target of Rp172 trillion for 118 state-owned enterprises (SOEs) in 2016, growing by 14.67 percent compared to the 2015 net profit of Rp150 trillion.
"The 2016 profit target is expected to be achieved in line with the improvement in the financial performance of companies. We must be able to meet it," said Minister of SOEs Rini Soemarno at the Ministry of SOEs office in Jakarta on Tuesday (19/1).
Rini explained that in 2015, the net profit of SOEs experienced a decline compared to 2014, influenced by a drop in revenue.
"The economic conditions in 2015 caused revenue to reach only Rp1,728 trillion, down from the 2014 revenue of Rp1,923 trillion," she stated.
However, revenue in 2016 is projected to reach Rp1,969 trillion, with total EBITDA (net profit before tax) of Rp377 trillion, soaring from the 2015 EBITDA of Rp319 trillion.
"For SOEs, the EBITDA ratio is important because it reflects the company's ability to invest in business development for the long term," she emphasized.
In line with their role, SOEs are not only focused on profit but also serve as development agents.
Meanwhile, Deputy for Business Infrastructure Wahyu Kuncoro stated that the banking sector will be one of the drivers of SOEs' total profit growth in 2016, which is estimated to increase by 5-10 percent.
"BRI, Bank Mandiri, and BNI are expected to grow at an average rate of 5-10 percent annually," said Wahyu.
The ten SOEs that contributed the most profit in 2015 and are expected to continue in 2016 include Pertamina, PLN, Telkom, BRI, Bank Mandiri, BNI, Pupuk Indonesia, Taspen, Semen Indonesia, and PGN.
Throughout 2016, the total assets of 118 SOEs are targeted to reach Rp6,240 trillion, an increase of 40.27 percent compared to Rp4,577 trillion in 2015.
The increase in SOE assets is primarily driven by asset revaluation conducted by PT PLN (Persero).
As part of the utilization of Economic Policy Package V, in 2015, 53 SOEs and 19 subsidiaries conducted asset revaluations, increasing total assets from Rp1,047 trillion to Rp1,355 trillion.
"In 2016, another 29 SOEs will conduct asset revaluations, contributing Rp8.6 trillion in taxes to the state," said Rini.
The 29 SOEs conducting asset revaluations include PLN, Pegadaian, Sucofindo, Asuransi Jasa Indonesia, Waskita Karya, Askrindo, Perum Jamkrindo, Reasuransi Indonesia Utama, Dahana, Biro Klasifikasi Indonesia, Rajawali Nusantara Indonesia, Pelindo III, Boma Bisma Indra, and Balai Pustaka.
Additionally, Barata Indonesia, Dok dan Perkapalan Surabaya, Danareksa, Industri Kapal Indonesia, Perum Perhutani, LEN Industri, ASDP Indonesia Ferry, PP Berdikari, Pindad, Indra Karya, Perum Navigasi, Pertani, INTI, Bahana Pembiayaan Usaha Indonesia, and Yodya Karya.
In 2016, all SOEs allocated capital expenditure (capex) for investment purposes amounting to Rp404.8 trillion, an increase of 51 percent from the 2015 capex of Rp268.3 trillion.
Throughout 2016, 62 strategic projects undertaken by SOEs are scheduled for groundbreaking, with a total value of approximately Rp347.22 trillion.
Meanwhile, 73 strategic projects are expected to be completed and inaugurated in 2016, with a total investment of Rp109.65 trillion. [Source: Ant/Suara Pembaruan]