This Subsidiary Of MNC Owned By Conglomerate Hary Tanoesoedibjo Earns Revenue Of IDR 2.73 Trillion And Profit Of IDR 142 Billion In 2021

Conglomerate Hary Tanoesoedibjo. (Photo: Instagram @hary.tanoesoedibjo)

JAKARTA - A subsidiary of the MNC Group owned by conglomerate Hary Tanoesoedibjo, PT MNC Kapital Indonesia Tbk (BCAP) recorded a positive performance in 2021. The Company was able to record consolidated revenues of Rp2.73 trillion.

In an official statement from BCAP, quoted on Tuesday 19 April, the company's revenue in 2021 will mainly come from interest and dividends of Rp. 1.53 trillion or equivalent to 56.0 percent of total income, followed by capital market income of Rp. 434 billion, then net premium income of Rp. IDR 372 billion. The highest BCAP revenue contributor came from MNC Bank, generating 50.7 percent of the total consolidated revenue.

Then followed by MNC Finance 10.7 percent, MNC Insurance 10.5 percent, MNC Life 9.9 percent, MNC Sekuritas 9.8 percent, MNC Leasing 5.5 percent and MNC Asset Management 1.3 percent, Flash Mobile 0, 8 percent, and MNC Teknologi Nusantara 0.8 percent.

MNC Group Executive Chairman Hary Tanoesoedibjo explained that the company has delivered extraordinary results in 2021 amidst COVID-19.

"The company continues to improve its digitalization initiatives, successfully launching and rebranding services to increase customer reach and increase brand recognition," said Hary Tanoe.

In 2021, the issuer with the BCAP code recorded digital revenue growth from only IDR 72 billion in 2020 to IDR 145 billion in 2021, a significant increase of 100.5 percent. Profit before tax increased 97.4 percent from Rp85 billion in 2020 to Rp167 billion in 2021 with margins almost doubling to 6.1 percent from 3.2 percent in 2020.

BCAP also posted a net profit of IDR 147 billion in 2021, up 124.6 percent from IDR 66 billion in full year 2020 which means a significant increase in net profit margin from 2.5 percent to 5.4 percent. Meanwhile, the total net profit attributable to the owners of the company was recorded at Rp. 142 billion.

"In 2022, the company will continue to thirst for better achievements, through the establishment of new businesses, investments, and strategic partnerships. We want to ensure that our business is not only profitable for shareholders, but also as agents of change to improve the living standards of the Indonesian people," said Harry Tanoe.

In terms of the statement of financial position, the company recorded an increase in total assets from Rp. 19.1 trillion to Rp. 21.65 trillion. Total liabilities rose 11.7 percent to Rp15.64 billion, and total equity increased 17.9 percent from Rp5.09 trillion to Rp6.0 trillion.