Minister Rini: No Successful Companies Without Debt

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  • State-owned Enterprises Minister Rini Soemarno

    State-owned Enterprises Minister Rini Soemarno

    TEMPO.CO, Jakarta - The state-owned enterprises (SOEs) minister Rini Soemarno said she did not question the debt held by the state-owned companies.

    “If there is no debt, we can’t develop our business. There are no companies in the world that can develop without having debt,” she said.

    Minister Rini said she was concerned that many parties were questioning the issue of debt. "[Recently] It is unfortunate to hear it [the discussion on SOEs with lots of debts], what is the problem of having debt? As long as we do it well, with a ratio that is right, responsible, and is really used for productive things. That's what I maintain,” she said in Jakarta, Sunday, December 9. Rini added that the calculation must be done correctly, including the return on investment.

    In the hearing with the commission VI of the House of Representatives (DPR), Monday, December 3, the Ministry of State-Owned Enterprises (SOEs) stated the total debt held by the state-owned companies was Rp5,271 trillion per quarter III/2018. It increased 9.13 percent from Rp4,830 trillion at the end of 2017.

    Of the total debt of Rp5,271 trillion, a total of Rp 4,478 trillion held by ten state-owned companies. The companies included in the top ten list are PT Bank Rakyat Indonesia (Persero) Tbk., PT Bank Mandiri (Persero) Tbk., PT Bank Negara Indonesia (Persero) Tbk., PT Perusahaan Listrik Negara (Persero), PT Pertamina (Persero ), PT Bank Tabungan Negara (Persero) Tbk., PT Taspen (Persero), PT Waskita Karya (Persero) Tbk., PT Telekomunikasi Indonesia (Persero) Tbk., and PT Pupuk Indonesia (Persero).