Call Formula E Profit Worth IDR 6 BILLION I'm Not Clear, PDIP: The Fee Commitment Fee Fee Fee Fee Fee Fee Fee

Member of the PDIP faction of the DKI Jakarta DPRD Gilbert Simanjuntak doubts the presentation of PT Jakarta Propertindo (Jakpro) regarding the financial statements for the implementation of Formula E 2022 resulting in a profit of IDR 6 billion.

Gilbert said that the calculation of the profits submitted by the BUMD organizers of Formula E did not have a clear basis.

This is because Jakpro did not include the calculation of the commitment fee expenditure disbursed from the APBD amounting to Rp560 billion in 2019 and 2020.

"The calculation is not yet clear on the basis. I see that the commitment fee and implementation costs have not yet been entered," Gilbert said in a short message, Tuesday, November 8.

Not to mention, until now Jakpro has not been able to convey the results of the revised feasibility study (FS) for the Formula E event to be disclosed to the public.

In fact, the Supreme Audit Agency (BPK), in the results of the examination of the DKI Provincial Government's financial statements, recommended Jakpro to update the FS compiled in 2019 taking into account the conditions of the COVID-19 pandemic.

For this matter, Gilbert also suspects that until now Jakpro has not worked on a revision of FS after the implementation of Formula E which was running a few months ago.

"The new FS as an answer to BPK's findings, I don't know if it was done or not. If there is no revision, this is a violation because the government is obliged to follow up on BPK's findings," Gilbert said.

Previously, PT Jakpro revealed the results of a temporary financial report on the implementation of Formula E. This report was compiled as of September 30, 2022. This was stated in a meeting of the DKI Jakarta DPRD Budget Agency which discussed the draft KUA-PPAS DKI APBD for the 2023 fiscal year.

Initially, the Chairman of the DKI Jakarta DPRD, Prasetyo Edi Marsudi, urged Jakpro to open up about the income that was formulated up in the implementation of Formula E.

Then, the Business Director of PT Jakpro Gunung Kartiko opened the data regarding the profit-loss report for the Formula E assignment project. Gunung revealed that Formula E's net profit was IDR 6.4 billion.

"If we look at it, there is still a positive amount of approximately Rp. 6 billion," said Gunung at the Grand Cempaka Resort, Bogor, West Java, Thursday, November 3.

Gunung explained, this profit was obtained from the calculation of operating income of IDR 137.3 billion with a cost of revenue of IDR 129.5 billion. Thus, the gross profit of Formula E was recorded at IDR 7.7 billion.

Then, there was a reduction in gross profit with an administrative burden of IDR 1.8 billion, other expenses of IDR 13 million. Then, other income was recorded at IDR 2.1 billion, and a tax expense of IDR 1.5 billion. From this calculation, net profit was recorded at IDR 6.4 billion.

"This Formula E financial report has not been audited. So, this is a report as of September 30, 2022," said Gunung.