Jakarta to Reap IDR 100.4bn Dividends from Beer Share

TEMPO.CO, Jakarta - Jakarta provincial administration will receive IDR 100.48 billion in this year's dividends from its share in beer company PT Delta Djakarta.

Acting Chief of the Jakarta Regional Owned Business Entity Development Agency (BP-BUMD) Riyadi, said that the dividend was doubled from the city's proposal during the general shareholders meeting (RUPS).

The city administration previously proposed a dividend of IDR 240.12 to IDR260 per share. "The fact is, the RUPS decided [the dividend] to be IDR478 per share. Of course, Jakarta honors and complies with the RUPS decision," said Riyadi when contacted by Tempo on Thursday, June 20, 2019.

Consequently, Jakarta will reap IDR 100.4 billion in dividends for owning more than 210,2 billion shares, or equals to 26.25 percent, of total shares in the beer company. Previously in 2018, the city received IDR 54.6 in dividends.

Despite the increasing dividends each year, Jakarta Governor Anies Baswedan insisted that he will sell the share as part of his effort to develop the capital city by using 'halal funds'. In addition, the governor argued that the dividend was far below the Jakarta Regional Budget (APBD).

Anies predicted that the city would earn up to IDR 1.2 trillion if it manages to sell its current beer share, and he added that the fund can be used to finance infrastructure development, such as pipe procurement to supply clean water.

M JULNIS FIRMANSYAH