State-Owned Companies Dominate Fortune Indonesia 100 Ranking: Minister Erick Thohir

JAKARTA, KOMPAS.com – Minister for State-Owned Enterprises (BUMN) Erick Thohir appreciated the achievements of state-owned companies which managed to rank top in the Fortune Indonesia 100 report.

At least 18 SOEs are included in the list of 100 companies in Indonesia with the largest revenue throughout 2022.

According to Erick, this achievement cannot be separated from the transformation of SOEs which continue to move in a better direction.

“Thank God, if we look at it, four out of the top five are SOEs. Out of the top ten, there are seven SOEs. This is an extraordinary thing and deserves appreciation,” he said in a written statement, Thursday (10/8/2023).

Also read: Surati Erick Thohir, Minister of PUPR Asks BUMN Karya not to use the APBN to pay debts

In the list, Pertamina sits at the top with revenues of IDR 1,323 trillion, and PLN is in second place with revenues of IDR 441 trillion.

Then BRI is in fourth position with Rp. 208 trillion in revenue, and Mandiri is in fifth place with Rp. 161 trillion in revenue.

Then there is Telkom in sixth place with Rp. 147 trillion in revenue and MIND ID in seventh place with Rp. 126 trillion in revenue.

“Nearly half of the total Fortune Indonesia 100 income comes from SOEs. This is proof that the hard work of directors, commissioners and all SOE personnel has brought positive results to the performance of SOEs,” said Erick.

He considered that a number of transformation steps, both in terms of changing business models, holdingization, to innovation, had succeeded in bringing significant growth for SOEs. That way, said Erick, SOEs can increasingly contribute to the state and society.

“This is in accordance with our initial commitment, BUMN must be healthy, this is proven by the Fortune Indonesia 100 report. The hope is that BUMN can optimize growth for community programs, including creating jobs,” said Erick Thohir.

Fortune Indonesia Editor-in-Chief Hendra Soeprajitno said, the majority of the Fortune Indonesia 100 list came from energy and coal companies which together recorded the highest performance of all time.

SOEs themselves dominate the top five in which there is only Astra International which from the private sector sits in third place.

Also read: Overcome Jiwasraya, Erick Thohir Ensures PMN Injection of IDR 3 Trillion to IFG Liquid at the End of the Year

“There are 18 SOEs that are included in the Fortune Indonesia 100 list this time. Their total revenue reaches IDR 2,763.31 trillion or the equivalent of 49 percent of the total Fortune Indonesia 100 revenue,” he said.

Hendra said that the standards for entering the Fortune Indonesia 100 were increasing as the Indonesian economy recovered, followed by improved performance of companies.

In 2021, a company must record at least IDR 8.41 trillion in revenue to be included in the list, while in 2022 it must record revenue of at least IDR 10.51 trillion.

The total revenue of the 100 largest companies in Indonesia in 2022 will reach IDR 5,632.52 trillion, an increase of 28.55 percent compared to the previous period.

“This means that companies that are included in the Fortune Indonesia 100 list this time contribute to 28.75 percent of the country’s economy, which previously was only 25.81 percent,” said Hendra.

Also read: Waskita Karya Unable to Pay Debt, Erick Thohir Opens PKPU Options

Get selected news updates and breaking news every day from Kompas.com. Let’s join the Telegram group “Kompas.com News Update”, how to click the link https://t.me/kompascomupdate, then join. You must first install the Telegram application on your cellphone.

2023-08-10 14:10:00
#SOEs #Enter #Fortune #Indonesia #List #Erick #Thohir #Extraordinary #Kompas.com