Facing Bankruptcy Rumors, How is PT Pos Indonesia's Financial Performance?

Economics & Macro

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Dwi Hadya Jayani 23/07/2019 11:43 WIB

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According to the annual report released by PT Pos Indonesia, the company's debt is recorded as continuously increasing. The company's revenue and net profit have also declined.

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Facing Bankruptcy Rumors, How is PT Pos Indonesia's Financial Performance?

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PT Pos Indonesia Financial Performance

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PT Pos Indonesia (Persero) has been rumored to be bankrupt and to have borrowed money from a bank to pay employee salaries. The company denies the rumors circulating on social media, although it does not deny borrowing from banks.

According to the annual report released by PT Pos Indonesia, the company's debt has been steadily increasing. In 2017, Pos Indonesia's debt rose 10.28% to Rp 4.6 trillion compared to Rp 4.1 trillion the previous year. Meanwhile, the company's revenue also fell 3% from Rp 4.5 trillion in 2016 to Rp 4.3 trillion in 2017.

Pos Indonesia's Finance and General Director, Eddi Santosa, estimates that net profit in 2018 will be eroded due to the Universal Postal Service program. The state-owned enterprise's net profit is predicted to plummet 63% to Rp 130 billion in 2018 from Rp 355 billion in 2017.

(Read Databoks: Check Data: Indonesia's Logistics Remain High Cost)

Editor : Hari Widowati

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."