State companies` assets revalued upward to Rp2,505 trillion

Antara News, Tuesday, February 2, 2010 20:01 WIB

Jakarta (ANTARA News) - The State Enterprises (BUMN) Ministry has revised upward the value of state-owned firms` assets from Rp2,400 trillion to Rp2,505 trillion, an official said.

"The increase in the value of the state companies` assets was reported at shareholders meetings of 141 state companies," Said Didu, secretary of the ministry of state enterprises, said here on Tuesday.

Didu said that a number of BUMNs announced increases in their asset values after they conducted reevaluation based on current market prices.

He said the big ten state firms in terms of assets were state-owned electricity firm PLN with Rp423 trillion, Bank Mandiri with Rp400 trillion and Bank BRI with Rp367 trillion.

They are followed by Bank BNI with Rp257 trillion, telecommunication company Telkom with Rp107 trillion, Jamsostek workers insurance firm with Rp92 trillion, housing ownership credit bank BTN with Rp66 trillion, Taspen with 41 trillion and fertilizer firm Pusri with Rp37 trillion.

He said the ten state firms had assets totaling Rp2,100 trillion or r 83.8 percent of the overall value of state-owned companies` assets.

Didu said the assets of state-owned oil and gas company Pertamina had not yet been reevaluated. "If its assets are reevaluated, possibly the assets of the state-firms would be higher," he said.