Eight state firms in the red this year: Govt
Nani Afrida, The Jakarta Post, Jakarta | Thu, 11/11/2010 3:12 PM
Eight state firms will suffer losses this year, the State-Owned Enterprises Ministry said Thursday.
However, State Enterprises Minister Mustafa Abubakar said this was than that of last year.
“Last year, 22 firms suffered massive losses,” he said, declining to name the companies in question.
Among 16 state companies whose financial performance has been poor in the past were paper maker PT Kertas Kraft Aceh (KKA), glass maker PT Industri Gelas, airliner PT Merpati Nusantara, printing company PT Balai Pustaka and shipping firm Djakarta Lloyd.
Mustafa said the government targeted to have no more ailing state firms next year.
Indonesia currently has 141 state enterprises contributing around 18 percent, or Rp 120 trillion [US$13.5 billion], to the state revenue.
