Jakarta, CNBC Indonesia – The Ministry of State-Owned Enterprises (BUMN) said that the dividends it received for the 2021 financial year were Rp. 39.73 trillion from 16 companies that made profits and decided to distribute dividends.
This figure is higher than the original target, in which SOEs are projected to provide dividends of Rp. 36.4 trillion. In a press conference after a working meeting with Commission VII DPR RI, Minister of SOEs Erick Thohir also said that for the 2022 fiscal year the dividend target from SOE subsidiaries rose to the range of Rp. 43-45 trillion.
The following is a list of state-owned companies that will contribute the largest dividends for the 2021 financial year.
Banking
The banking sector is the most cumbersome business segment with dividend contributions reaching 62% of the total deposited by the SOE ministry.
Bank BRI paid Rp 14.05 trillion in dividends to the Indonesian government, or about one-third of the total deposits of BUMN. Meanwhile, the dividends received by the government from Bank Mandiri, BNI and BTN respectively were Rp. 8.75 trillion, Rp. 1.64 trillion and Rp. 143 billion.
Telecommunication
Furthermore, there is the Telkom Group which paid dividends worth Rp. 7.74 trillion, this figure is part of the government which controls 52.09% shares of Telkom Indonesia (TLKM) which has announced the use of profits for dividends of Rp. 14.86 trillion.
In addition, the TLKM subsidiary, which had its IPO last year, also distributed dividends with a total amount to all shareholders of almost Rp 1 trillion.
Energy and Mineral Resources
State-owned companies engaged in the energy and mineral resources sector contributed a total of Rp 3.83 trillion in dividends to the Indonesian government this year.
Pertamina successfully posted a net profit of US$ 2.05 billion or equivalent to Rp. 29.72 trillion (assuming an exchange rate of Rp. 14,500/US$). Meanwhile, its subsidiary, Perusahaan Gas Negara (PGAS), which also managed to earn a net profit of US$ 303.82 million, has decided to distribute cash dividends of Rp 3.01 trillion to all shareholders. This year the Pertamina Group paid a total dividend of Rp 2.93 trillion.
Furthermore, a national mining consortium led by MIND IDE contributed a total dividend of Rp 900 billion. This figure is much smaller than the deposit received by MIND ID from the three mining issuers listed on the stock exchange.
In total, Bukit Asam (PTBA), Aneka Tambang (ANTM) and Timah (TINS)paid dividends to MIND ID from last year’s operation of around Rp 6.11 trillion. Meanwhile, for Freeport Indonesia the figures have not been disclosed to the public.
MIND ID did not provide an official statement regarding the relatively small dividend, but the decision appears to be attributable to its jumbo debt. MIND ID is known to have issued global bonds with various tenors of 3, 5, 10 and 30 years worth US$ 4 billion in 2018, worth US$ 3.85 billion used for the acquisition of Freeport Indonesia and the rest for transaction fees and contributions. capex Freeport.
Furthermore, in May 2020, MIND ID again issued US$ 2.5 billion debt securities which were used for various purposes, including US$ 1 billion for refinancing (refinancing) debt for the purchase of Freeport shares due in 2021 and 2023.
Other sectors
Furthermore, other companies operating outside the sectors mentioned above, cumulatively contributed dividends of Rp 3.59 trillion or less than 10% of total deposits from SOEs.
Pelindo became the largest with a contribution of Rp 1.32 trillion, followed by PLN and Pupuk Indonesia with Rp 750 billion each. Meanwhile, Semen Indonesia paid Rp 522 billion, Biofarma Rp 150 billion and Perhutani Rp 50 billion.
Finally, the three issuers that contributed to the dividend with the smallest nominal were Sucofindo, Surveyor Indonesia and the Indonesian Classification Bureau (BKI) with deposits of Rp. 25 billion, Rp. 15 billion and Rp. 10 billion, respectively.
CNBC INDONESIA RESEARCH TEAM
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