These 10 State-Owned Enterprises (SOEs) Recorded the Largest Losses in 2020

Not all state-owned enterprises (SOEs) in Indonesia are profitable every year. Some SOEs have even accumulated massive losses over several years.

According to data from the Ministry of Finance, PT Asuransi Jiwasraya (Persero) had the largest accumulated loss, amounting to Rp 41.5 trillion in 2020. This loss is the largest among all other SOEs.

The next SOEs with the largest accumulated losses are PT Garuda Indonesia (Persero) Tbk at Rp 32.85 trillion, followed by PT Krakatau Steel (Persero) Tbk at Rp 29.54 trillion, PT Dirgantara Indonesia (Persero) at Rp 18.33 trillion, and PT Perkebunan Nusantara III (Persero) at Rp 15.19 trillion.

Then, PT ASABRI (Persero) had a total loss of Rp 11.53 trillion. Following this are PT Merpati Nusantara Airlines (Persero) with an accumulated loss of Rp 8.78 trillion, Perum Bulog with an accumulated loss of Rp 4.02 trillion, and PT PAL Indonesia (Persero) and PT PANN (Persero) each with accumulated losses of Rp 3.78 trillion and Rp 3.54 trillion, respectively.

By the end of 2020, 43 SOEs recorded accumulated losses. This includes 37 BUMN Persero (limited liability state-owned companies) and 6 BUMN Perum (state-owned regional enterprises).

(read: Inilah 13 BUMN dengan Modal Negatif pada 2020)