Working On The Railroad Project, KAI Doesn't Deposit Dividends To The State Since 2021

Illustration - Jakarta Bandung High Speed Train. (Photo: Doc Antara)

JAKARTA - PT Kereta Api Indonesia (Persero) or KAI has not deposited dividends back into the country since 2021.

This is because it is accelerating the Jakarta-Bandung High Speed Rail project or known as the Fast Train

KAI Director of Finance and Risk Management Salusra Wijaya said the contribution increased significantly both from taxes and non-tax state revenues (PNBP).

From IDR 3.9 trillion in 2018, it rose to IDR 4.4 trillion in 2019. Then, decreased in 2020, which was recorded at IDR 3 trillion.

Then, in 2021, it fell again by only Rp. 2.9 trillion when the assignment was started to work on the Fast Train project.

The KAI controversy again increased in 2022 worth IDR 3.1 trillion, and in 2023 it was recorded at IDR 4.9 trillion.

"Since 2021 KAI has received a mandate from the Fast Train Committee to detain the dividend earlier for KAI's financial review, in connection with the assignment given," he said in a meeting with Commission VI of the DPR, in Jakarta, Tuesday, July 9.

"It is seen here that there is no dividend portion. Because in accordance with the decision of the Fast Train Committee consisting of the Coordinating Minister for Maritime Affairs, the Minister of Transportation, the Minister of Finance, and the Minister of SOEs to strengthen KAI through dividends," he continued.

KAI, he continued, had received State Capital Participation (PMN) worth IDR 17.7 trillion during the 2015 to 2022 period.

He said that all of the PMN portions were used for the assignment of national strategic projects (PSN), namely the Jabodebek Fast Train and the Jabodebek LRT.

In 2021, said Salusra, KAI will get PMN of IDR 6.9 trillion. Of this amount, IDR 2.9 trillion was used to fulfill the cost overrun or cost overrun of the Jabodebek LRT.

The rest is IDR 4.3 trillion to increase the basic capital of the Fast Train project

Then, he continued, in 2022 KAI will get PMN of IDR 3.2 trillion for the Fast Train project. Thus, the total PMN received by KAI in 2021 to 2022 is IDR 7.5 trillion.

"So we regularly report all of these PMN to DJKN as PMN managers, and BPK and PT SMI. We report all of these PMNs from year to year in the GMS (General Meeting of Shareholders)," he explained.