Having IDR 250 Trillion, Erick Thohir: SOEs Should Not Be Percepted Poor!

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed that the red plate company's cash ownership reached Rp250 trillion. Therefore, according to him, the assumption that the state company is a poor company is not true.

Initially, Erick said investment cooperation with SOEs would benefit both parties. In fact, returns on equity (ROE) or returns with companies that have collaborated with SOEs since 2022 are at 10 percent, and increase to 11.7 percent in 2023.

"How in this BUMN ecosystem, now try to check return on equity, partnering with SOEs now in 2022 is 10 percent, in 2023 it is 11.7 percent, and SOEs have Rp250 trillion in cash, so don't be perceived as poor," Erick said when met at JIExpo Kemayoran, Jakarta, Sunday, February 18.

Erick also said that the government through the Ministry of SOEs will continue to carry out strategic actions and maintain the domestic investment climate. One of them is negotiating with companies that have been investing in Indonesia for decades.

For example, said Erick, negotiating the divestment of share prices with PT Vale Indonesia Tbk (INCO). Erick said that this long and tough negotiation does not mean that he does not like foreign investment or complicates foreign companies.

"I want to emphasize here, I'm not making it difficult for investment, I have no arrogance with foreigners. But as a nation we also have to be smart, don't negotiate using English which should be no, no, but because we are limited, ashamed, prestige yes, yes, yes finally we sell our country, "he explained.

Furthermore, Erick emphasized that the strong negotiations made by his party together with the Ministry of Investment and the Ministry of Energy and Mineral Resources were solely for Indonesia so that Vale Indonesia's share ownership could be controlled by the state. At the same time to ensure the commitment of the company that has invested.

"Well, that's why I don't want to sell the country, I want to negotiate quickly with all parties so far. We have invested in Indonesia, but we have to protect our commitments," he said.