Top 10 State-Owned Enterprises (SOEs) in Indonesia with the Largest Assets: Who's Number One?

The assets of State-Owned Enterprises (SOEs) are part of the nation's wealth. Based on the 2019 Central Government Financial Report (LKPP), there are 10 SOEs in the form of limited liability companies ("Persero") that have the largest assets. PT Perusahaan Listrik Negara (PLN) (Persero) is Indonesia's largest SOE in terms of total assets.

In 2019, PLN had assets totaling Rp1.589 trillion. PLN's substantial assets reflect its business reach, holding a monopoly in the market from Sabang to Merauke.

In second place among SOEs with the largest assets is PT Bank Rakyat Indonesia (BRI) (Persero) Tbk, with assets totaling Rp1.416 trillion. With this amount of assets, BRI remains at the top of the national banking sector.

Third place in terms of largest assets is PT Bank Mandiri (Persero) Tbk, with Rp1.318 trillion. In fourth place is PT Pertamina with assets of Rp932.568 trillion.

Fifth place among state-owned companies with the largest assets is PT Bank Negara Indonesia (Persero) Tbk. This bank, often abbreviated as BNI, has assets totaling Rp845.605 trillion.

(read: 12 SOEs with the Largest Assets 2018)