Eight Indonesian Companies Make the Forbes Global 2000 List: What Are Their Net Profits?

Forbes released its list of the world's best companies this year in a report titled *The Global 2000*. Eight Indonesian companies made the list, the majority of which are State-Owned Enterprises (SOEs).

Half of the Indonesian companies on Forbes' list of the world's best companies are from the banking sector. PT Bank Rakyat Indonesia Tbk (BRI) performed best in Indonesia, ranking 307th.

Three other banks, PT Bank Mandiri Tbk, PT Bank Central Asia Tbk, and PT Bank Negara Indonesia Tbk, ranked 418th, 462nd, and 930th, respectively.

Telecommunications company PT Telkom Indonesia Tbk ranked 787th.

Two other companies operate in the mining sector: PT Bayan Resources Tbk and PT Adaro Energy Tbk, ranking 983rd and 1,393rd, respectively.

At the bottom of the list of Indonesian companies included in the top global companies is PT Garuda Indonesia Tbk, ranking 1,572nd.

Forbes Global 2000 ranks the world's largest companies using four metrics: sales, profit, assets, and market value. The companies on the list generated US$50.8 trillion in sales, US$4.4 trillion in profit, US$231 trillion in assets, and US$74 trillion in market value.

However, the cumulative profit, assets, and market value achieved overall by the 2,000 companies decreased slightly compared to the previous year, although this is the first time total revenue has exceeded US$50 trillion.

A total of 58 countries were represented by public companies on the list. The United States led with 611 companies, and China was second with 346 Global 2000 companies.

"We used the most recent 12 months of financial data available to us as of May 5, 2023, to calculate the factors used in our rankings," Forbes said, as quoted on Sunday (June 11).

Based on its net profit, BRI ranked second among the companies on the Forbes Global 2000 list. BRI's net profit was recorded at US$3.45 billion, equivalent to Rp51.27 trillion (using an exchange rate of Rp14,682/US$).

First place was taken by Garuda Indonesia with a net profit of US$3.67 billion or Rp54.54 trillion. On the other hand, BRI was listed at the bottom with a net profit of US$3.45 billion or Rp41.27 trillion. *(Note: There is a discrepancy in the BRI net profit figures presented in the original text. This translation reflects both figures.)*

Here are the 8 Indonesian companies included in the Forbes Global 2000 based on their net profit in 2022:

1. PT Garuda Indonesia (Persero): US$3.67 billion (Rp54.54 trillion)
2. Bank Rakyat Indonesia (BRI): US$3.45 billion (Rp51.27 trillion)
3. Bank Central Asia: US$2.93 billion (Rp43.54 trillion)
4. Bank Mandiri: US$2.72 billion (Rp40.42 trillion)
5. Adaro Energy: US$2.5 billion (Rp37.15 trillion)
6. Bayan Resources: US$2.18 billion (Rp32.39 trillion)
7. Telkom Indonesia: US$1.4 billion (Rp20.8 trillion)
8. Bank Negara Indonesia: US$1.23 billion (Rp18.28 trillion)