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Pertamina, Telkom book big profits
JAKARTA: Secretary to the State Minister of State Enterprises Said Didu said Wednesday state companies were forecast to post a combined net profit of around Rp 81
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JAKARTA: Secretary to the State Minister of State Enterprises Said Didu said Wednesday state companies were forecast to post a combined net profit of around Rp 81.2 trillion (US$7.18 billion) this year, up by 13 percent from Rp 71.6 trillion last year.
"The jump in profits is attributable to the soaring prices of commodities, including in oil, mining, and plantations," said Said during a hearing with lawmakers.
Oil and gas company PT Pertamina and telecommunication operator PT Telkom contributed to the largest increased profits with Rp 27 trillion and Rp 11 trillion respectively.
Other large contributors included Bank Mandiri and Bank Rakyat Indonesia, which were likely to book Rp 5 trillion each.
Dozens of state companies are also forecast to post losses, including power company PT PLN, airline operator PT Merpati Nusantara, railway operator PT Kereta Api, sea transportation operator PT Pelni, and paper company PT Kertas Kraft Aceh. -- JP
