List of 5 State-Owned Enterprises Responsible for Trillions of Rupiah in Debt

Logo of the Ministry of SOEs. At least there are a number of state-owned enterprises that are in debt trillions of rupiah. (Source: Ministry of SOEs)

JAKARTA, KOMPAS.TV – Over the past five years, ‘red plate’ companies or state-owned enterprises (BUMN) have continued to accumulate debt.

The Covid-19 pandemic has added to the debt borne by state-owned companies.

Quotes Kompas.com, in 2020, the total liabilities of state-owned companies reached IDR 6,710 trillion, an increase of 9.6 percent compared to 2019.

Here are five state-owned companies with mounting debt:

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1. PLN

Based on financial reports at the end of 2020, PT Perusahaan Listrik Negara (PLN) is known to have a debt of IDR 649.2 trillion.

Quoted from Kompas.com, Wednesday (26/5/2021), the amount consists of long-term debt of Rp.499.58 trillion and short-term debt of Rp.149.65 trillion.

Based on PLN’s financial statements, PLN’s long-term debt is dominated by bonds and sukuk of Rp192.8 trillion, bank loans of Rp154.48 trillion, employee benefits debt of Rp54.6 trillion, deferred tax liabilities of Rp31.7 trillion, and forwarding loans of Rp35.61 trillion.

Furthermore, there are deferred income of Rp. 5.6 trillion, rental debt of Rp. 14 trillion, debt to the government and non-bank financial institutions of Rp. 3.6 trillion.

Then there is private electricity debt of Rp. 6 trillion, KIK-EBA’s debt of Rp. 655 billion, debt of related parties of Rp. 9.4 billion, and other debts of Rp. 182 billion.

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