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Jakarta Post

24 state-owned enterprises record losses in H1

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, August 30, 2017   /   09:11 pm
24 state-owned enterprises record losses in H1  A Garuda Indonesia airplane takes off from I Gusti Ngurah Rai International Airport in Bali on June 13. The flag carrier is one of 24 state-owned enterprises that suffered losses in the first half of 2017. (Antara/Fikri Yusuf)

Twenty four state-owned enterprises (SOEs) suffered losses in the first half of 2017, a slight improvement from last year’s performance, which saw 27 SOEs record losses.

“We will continue to reduce the number of SOEs that suffer losses,” State-Owned Enterprises Ministry secretary Imam Apriyanto Putro said in Jakarta on Wednesday as quoted by

No detailed figure were revealed about the losses, but among the firms that recorded losses include two airlines -- flag carrier Garuda Indonesia and Merpati Nusantara Airlines.

The other companies include State Logistics Agency (Bulog) pharmacy company PT Indofarma, energy company PT Energy Management Indonesia, hospitality firm PT Hotel Indonesia Natour, postal firm PT Pos Indonesia (Persero), film production company Perum Produksi Film Negara, publication firm PT Balai Pustaka, ship maker PT PAL Indonesia and shipyard operator PT Dok dan Perkapalan Surabaya.

Imam said that State-Owned Enterprises Minister Rini Soemarno had set a target for only Merpati Nusantara Airline to record losses by the end of the year.

Iman said the ministry had prepared a number of policies to make the companies profitable. “We have mapped out a strategy to determine whether there was mismanagement or problems in human resources,” Imam said.

Meanwhile, the ministry’s business restructuring and development deputy, Aloysius Kiik Ro, said that one effort that could be made to reduce losses was to carry out debt restructuring and establish SOEs holdings. (bbn)