The performance of BUMN under Erick Thohir is very impressive

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State-Owned Enterprises Minister (BUMN Minister) Erick Thohir
State-Owned Enterprises Minister (BUMN Minister) Erick Thohir

BUMN performance in 2023 shows very good figures. BUMN profits increased and dividends exceeded targets.

Minister of State-Owned Enterprises (BUMN) Erick Thohir is optimistic that positive performance can continue in 2023 and 2024. Erick said that BUMN profits in 2022 will reach IDR 254 trillion without Garuda Indonesia's restructuring of IDR 55.7 trillion.

BUMN's performance was still positive with a profit of IDR 231 trillion in the third quarter of 2023 or an increase of 10 percent compared to the same period last year of IDR 210 trillion. This achievement has accelerated compared to BUMN profits in 2021 which amounted to IDR 125 trillion.

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"If we compare it with (profit) in 2022 which is worth IDR 254 trillion, perhaps I am optimistic that this figure can be achieved and can still grow again in 2023," said Erick during a working meeting (raker) with Commission VI of the DPR at the DPR Building, Jakarta, Monday (4/12/2023).

The transformation also had a big impact in increasing BUMN's contribution to the state through dividends, taxes and PNBP. The total contribution of BUMN in the last three years in 2020-2022 reached IDR 1,318 trillion or grew IDR 39 trillion from the 2017-2019 period which amounted to IDR 1,279 trillion.

"Meanwhile, the realization of BUMN contributions up to the third quarter of 2023 has reached IDR 448 trillion," said Erick.

Erick said that this good performance also received a positive response from the market. Erick gave the example of the return rate for BUMN on the stock exchange which reached 28 percent or higher than private issuers which was 18 percent.

Erick continues to encourage a balance between state capital participation (PMN) and dividends. This commitment has been conveyed by Erick since 2019, who wants the portion of PMN and dividends to be equal, namely 50:50.

BUMN paid dividends of IDR 81.1 trillion or exceeded the initial target of IDR 35.3 trillion in 2023. Erick targets that BUMN dividends in 2024 will continue to grow to IDR 85.2 trillion.

"This means that if you add up the total, the proportion between dividends and PMN will reach the target of 50:50, now, God willing, it will be 55:45," continued Erick.

Erick detailed that the total realization and proposals for PMN during the 2020-2024 period reached IDR 226.1 trillion. Meanwhile, the actual and proposed dividends in the same period were actually greater, namely IDR 279.4 trillion. Thus, BUMN's dividend portion will reach 55 percent greater than PMN's 45 percent.

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