State-owned electricity company PT Perusahaan Listrik Negara (PLN) recorded a debt of Rp 543 trillion by the end of the third quarter of 2018. This figure represents a 16.5% increase compared to the end of the third quarter of 2017. This debt comprises bank loans, bond and sukuk issuances, and asset securitization.
PLN's interest-bearing debt (excluding DPK, accounts payable, and reserves) is the largest compared to other state-owned enterprises (SOEs) such as PT Pertamina (Rp 522 trillion), Bank Mandiri (Rp 166 trillion), and Bank BRI (Rp 135 trillion). The total debt of the 10 SOEs listed below reached Rp 1,731 trillion out of their total liabilities of Rp 4,478 trillion.
(Read Databoks: How much revenue does PLN receive from electricity subsidies?)
Meanwhile, the total assets of these 10 SOEs reached Rp 6,407 trillion by the end of September 2018, out of the total assets of all SOEs amounting to Rp 7,718 trillion. Their total profit was Rp 63 trillion out of the total profit of all SOEs of Rp 79 trillion.