Here are 13 SOEs with Negative Equity in 2020

Several State-Owned Enterprises (SOEs) in Indonesia are threatened with bankruptcy due to large debts that are overdue and cannot be paid on time. Several SOEs even have negative equity.

Based on data from the Ministry of Finance, there are 13 SOEs with negative equity/capital. The SOE with the largest negative equity is PT Asuransi Jiwasraya (Persero), reaching Rp 38.67 trillion in 2020. This is followed by PT Garuda Indonesia (Persero) Tbk with negative equity of Rp 13.65 trillion, PT ASABRI (Persero) with Rp 13.3 trillion, and PT Merpati Nusantara Airlines (Persero) with Rp 6.77 trillion.

There is also PT PANNN (Persero) with negative equity of Rp 3.3 trillion, followed by PT Dok dan Perkapalan Kodja Bahari (Persero) with negative capital of Rp 1.39 trillion, PT Iglas (Persero) with negative equity of Rp 1.19 trillion, and PT Kertas Kraft Aceh (Persero) with negative capital of Rp 1.1 trillion.

Furthermore, PT Kerta Leces (Persero) has negative equity of Rp 722.65 billion, PT Industri Telekomunikasi Indonesia (Persero) has negative equity of Rp 420.38 billion, Dok Perkapalan Surabaya (Persero) has negative equity of Rp 281.88 billion, and PT Survei Udara Penas (Persero) and PT Industri Nuklir Indonesia (Persero) each have negative capital of Rp 141.63 billion and Rp 11.99 billion, respectively.

Of the 13 SOEs with negative equity, Garuda has the largest assets, reaching Rp 139.41 trillion in 2020. This is followed by ASABRI with assets worth Rp 31 trillion and Asuransi Jiwasraya with Rp 15.69 trillion.