State firms to see profit lower by 6.6 percent this year

The Jakarta Post | Thu, 03/12/2009 9:40 PM  

The government announced Thursday that the accumulated net profit of state firms would come to Rp 70 trillion by the end of this year ordown by 6.6 percent from what it was last year. 

“The net profit will be lower compared to last year as a result of the global economic crisis,” Secretary to State Minister for State Enterprises Said Didu said in Jakarta as quoted by Antara news agency. 

He said oil and gas producer PT Pertamina would remain as the biggest contributor, followed by telecommunication provider PT Telekomunikasi Indonesia (Telkom) and four state banks: Mandiri, BRI, BNI and BTN. 

Pertamina is expected to come up with up to Rp 20 trillion in net profit this year. 

The decline in net profit, Said said, would translate into Rp 26.1 trillion in total state earnings from dividends, lower than Rp 31.1 trillion gained last year. 

The operational costs of a total of 138 state firms is expected to reach Rp 836.34 trillion, lower than Rp 962 trillion last year, while the total capital expenditures of the firms likely to amount to Rp 152.05 trillion, up from Rp 128.32 trillion last year.