Food SOE Holding Assets Continue To Grow, ID FOOD Is Ready To Execute A Number Of Strategic Food Security Programs

Photo: Doc. ID FOOD

JAKARTA - Steps to strengthen the national food sector need to be supported by the existence of reliable State-Owned Enterprises (BUMN) in carrying out government food security programs. For this reason, the trend of growth in revenue and assets of Food SOE Holding is an important thing that must continue to be encouraged to ensure the profitability and sustainability of the spearhead of the food industry is maintained.

The statement was made by the President Director of the Food SOE Holding ID FOOD Sis Apik Wijayanto, after implementing the Kick off Implementation of the ID FOOD Group Integrated Governance Policy, Friday, September 27, in Jakarta. According to him, the existence of Food SOE Holding plays an important role as the spearhead or executor of food strategic programs, such as the management of Government Food Reserves (CPP) and food supply stabilization activities from the farmer level upstream to downstream consumers.

"Healthy Food SOE HOLDing is the key to the success of the government's food program. Therefore, ID FOOD is committed to continuing to improve its performance growth through sustainable governance and innovation," he said.

Sis Apik said, before 3 years after being formed in 2022, ID FOOD's performance was getting better. In the performance of the 2023 financial year, ID FOOD managed to re-record asset growth from IDR 28 trillion in 2022 to IDR 29 trillion in 2023.

This achievement marks the trend of asset growth of ID FOOD since 2020, where in the period 2020-2023 the company's assets consistently increased with an average growth of 14 percent.

"The record for the highest asset growth occurred after the consolidation of the BUMN Food Holding assets, with an increase in assets of 48 percent, an increase from Rp14.4 trillion to Rp27.8 trillion," he explained.

The post-asset growth, according to Sis Apik, marks an increasing portfolio of food and non-food ID FOOD businesses. Of those previously engaged in the sugar industry, palm oil, tea, trade and distribution, plastic sacks, and medical devices, ID FOOD adds to the list of new business portfolios that are very strategic post-holding, such as agricultural lines, livestock, fisheries, salt, and logistics.

The addition of the portfolio is supported by the addition of strategic facilities and assets that are managed and developed by the company. This is certainly a very important asset to strengthen the company's role in running and supporting strategic food programs for food security," he explained.

He said, currently, ID FOOD is strengthened by a number of business facilities such as 6 sugar factories, 3 crude palm oil (CPO) factories, 2 tea factories, 15 rice mills, 11 cattle and poultry farms, 3 salt factories, 6 fishery ports, 1 fish feed factory, 7 shipyards, 2 plastic sack packaging factories, 1 medical device factory, and more than 80 distribution and trade branch offices and warehousing.

"The development of assets and business facilities also significantly affects the positive performance and growth of ID FOOD's net profit," he said.

Furthermore, he added, until the first semester of 2024, ID FOOD has managed to record asset growth to Rp 30 trillion, an increase from the achievement of Rp29 trillion in the performance of the 2023 financial year.

"We hope that the improvement and strengthening of the Food ID FOOD BUMN Holding which is still ongoing will be a positive signal for the government's efforts to intensively make improvements to the food sector in various lines," he said.

His party ensures that ID FOOD is ready to be part of the executor of food strategic programs prepared and run by the government.

"To realize national food resilience and self-sufficiency, we are ready to work together by empowering the assets owned by the company," he said.