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Jakarta Post

State-owned enterprises book Rp 200 trillion in profits

  • News Desk

    The Jakarta Post

Jakarta   /   Sun, April 7, 2019   /   04:10 pm
State-owned enterprises book Rp 200 trillion in profits State-owned Enterprises Minister Rini Soemarno (tribunnews.com/File)

State-Owned Enterprises (SOEs) Minister Rini Soemarno has expressed her appreciation for the significant increase in SOEs’ profits, which had grown by Rp 57 trillion (US$4.04 billion) in the last five years.

“When I was appointed  minister, SOEs booked Rp 143 trillion in [combined] profits. With the hard work of all SOEs, profits increased to Rp 200 trillion in 2018. So I express my gratitude,” she said during the LinkAja Festival in Sidoarjo, Central Java, on Sunday as quoted by Antara.

LinkAja is a newly launched electronic financial service established by a number of SOEs, mostly state-owned lenders.

She said cooperation among SOEs had improved efficiency. Therefore, she believed SOEs’ profits could increase to Rp 500 trillion through closer cooperation. 

“It is the responsibility of the millennial generation [to boost the profits of SOEs],” she said.

Rini said LinkAja was an example of collaboration among SOEs in response to the increasing demand of electronic financial services. She said LInkAja should be able to compete with similar services operated by private companies.

LinkAja initially focused on serving employees of SOEs, however, LinkAja’s app has been downloaded 25 million times. (bbn)