SOEs’ net profits expected to reach Rp 113.72t this year

Padang’s state-owned enterprises are expected to record a combined Rp 113.72 trillion (US$12.6 billion) net profit this year, up 19.32 percent from an estimated Rp 95.30 trillion in 2010, a minister says.

State-owned Enterprises Minister Mustafa Abubakar said on Friday that his ministry had been committed to boosting the contribution of state-owned companies to the country’s economy in the future.

“Currently, 40 percent of our gross domestic product (GDP) comes from state-owned enterprises,” he said at a press conference on the 2011 state-owned enterprises outlook at his office in Jakarta.

He explained that this year, total revenues of state-owned companies were estimated to grow by 13.9 percent to Rp 1,294.37 trillion, from an estimated Rp 1,124.33 trillion last year. Companies operating in energy, financial and telecommunications sectors would remain the largest contributors of revenue, he added.

“The net profit from the energy sector was estimated to reach Rp 36.05 trillion in 2010 [representing 38 percent of the total net profits of Rp 95.30 trillion] and we expect the number to hit Rp 42.11 trillion this year,” he said.

The ministry’s data shows that companies operating in the financial sector were the second largest contributor to the total net profit last year, representing 21 percent or Rp 20 trillion. The net profit is likely to grow by 20 percent in 2011 to Rp 24 trillion, the data reveals.

The third largest contributor, the telecommunications sector, recorded a total contribution of Rp 13 trillion, representing 13.6 percent the total net profit. In 2011, the net profit is expected to grow by 20.28 percent to Rp 15.72 trillion.


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