STATE FIRMS' NET PROFIT PREDICTED TO DROP 6.6 PCT

Jakarta, March 12 (ANTARA) - The State Enterprises (BUMN) Ministry predicts that the net profit of state-owned companies in 2009 will decline 6.6 percent to Rp70 trillion from Rp75 trillion in 2008, a spokesman said.
"The net profit of state-owned companies this year will be smaller than that in 2008 due to the impact of the global financial crisis," the ministry's secretary, Said Didu, said here on Thursday.
He said state-owned oil company Pertamina would remain the biggest net profit contributor followed by telecommunication firm PT Telkom, four state banks, namely Bank Mandiri, Bank BRI, Bank BNI and Bank BTN and state companies operating in the mining and energy sectors.
Pertamina is expected to book a net profit of Rp19-Rp20 trillion this year.
Didu explained that besides global financial crisis, the decline in state companies' profit this year was also due to the decrease in the operational expenditure of almost all state companies.
In 2009, the total operational expenditure of all state firms is estimated at Rp836.34 trillion, which is lower than that in 2008 which totaled Rp962 trillion.
In connection with the impact of the financial crisis, the contribution of state companies to the state in the form of dividends in 2009 is expected to drop to Rp26.1 trillion from the proposed Rp31.1 trillion.