Erick Thohir Claims SOE Consolidated Profit To Reach IDR 61 Trillion In 2021

SOE Minister Erick Thohir (ANTARA DOK)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir claims to have succeeded in significantly increasing the consolidated net profit of SOEs during 2021. From only IDR 13 trillion at the end of 2020, the consolidated net profit until the third quarter of 2021 has reached IDR 61 trillion.

In addition, Erick said, the main programs initiated by the Ministry of SOEs during 2021 have also been successfully completed. Achievement of the maximum performance includes the financial, operational, and social responsibility to the community.

"On behalf of all the leadership and employees of the Ministry as well as the directors of BUMN companies, we are grateful, and thank God, at the end of 2021 I can convey good news to the people and the Indonesian nation. Although we all continue to struggle with disruption due to the pandemic, the positive performance of the BUMN ministry can still be achieved. improved. Their financial, operational and social responsibility performance recorded the best results," he said, in Jakarta, Saturday, January 1.

Erick said that the improvement in financial performance was also followed by the success of several main programs that became the milestones of the SOE's transformation and innovation agenda. Among other things, the formation of Bank Syariah Indonesia (BSI) which is a merger of three Syariah Banks owned by Himbara, namely Syariah Mandiri, BRI Syariah, and BNI Syariah.

With the formation of BSI, continued Erick, for the first time Indonesia has a large Islamic bank. With total assets of around Rp. 247 trillion, BSI is the 7th largest bank in Indonesia as well as the 11th-ranked Islamic Bank in the world. This clearly strengthens Indonesia's position as the country with the largest number of Muslims in the world.

Erick said that other mergers carried out in the ultra-micro sector through the merger of BRI, Pegadaian, and PNM also showed KBUMN's commitment to encouraging people's and regional economic empowerment. By providing easy access to capital for the MSME and Ultra Micro sectors, it is hoped that the backbone of the Indonesian economy can be promoted.

"This is a real effort from SOEs to support people's economic growth. The merger of the ultra-micro sector received a very good response in the market. BRI's rights issue which was carried out in September 2021 was successfully carried out with the acquisition of funds of Rp. 96 trillion and was recognized as the largest rights issue in ASEAN and the 3rd largest in Asia. This achievement shows that the market is optimistic and believes in the transformation program carried out by SOEs," he continued.

Not only that, Erick said, the Ministry of SOEs has also successfully implemented a restructuring program for SOEs to be stronger in competing in accordance with their core business. For example, said Erick, within Pertamina.

According to Erick, with the operational restructuring through the establishment of a subholding, Pertamina is targeted to become a Global Energy Champion company and has a valuation of 100 billion US dollars.

In the logistics sector, continued Erick, SOEs continue to make breakthroughs to reduce logistics costs in Indonesia, which are still higher than neighboring countries in Asia. The merger of Pelindo which has been attempted for 20 years has been successful in October 2021.

With this unification, said Erick, Pelindo is now the number 8 largest container terminal operator in the world with a total of 16.7 million TEUs and is one of the main players in world ports with total assets of IDR 112 trillion. This merger is also intended to improve connectivity and efficiency so as to reduce national logistics costs so that the industry in Indonesia is more competitive.

One of the historic milestones inscribed by the Ministry of SOEs in 2021 concerns the settlement of the Jiwaraya case. The restructuring that was implemented in the insurance company was able to resolve the long-standing problem. By the end of the year, as many as 230 thousand policies of Jiwasraya's first phase customers were rescued and transferred to customers to Indonesia Financial Group (IFG), a BUMN Holding for the insurance and guarantee sector.

"The first stage of completing the insurance policy of Jiwasraya customers to IFG is not only an effort by the government to develop the insurance industry so that it grows healthier and stronger, but furthermore to restore public trust. This is important to create competitiveness for Indonesian insurance companies in the life insurance segment and provide maximum protection for the community," explained Erick Thohir.