PERTAMINA'S NET PROFIT UP 54.8 PERCENT IN 2008

Jakarta, June 15 (ANTARA) - State oil company PT Pertamina (Persero) in fiscal year 2008 booked a consolidated net profit of Rp30.2 trillion, up 54.8 percent from Rp19.51 trillion in 2009.

The company's net profit was announced at general shareholders' meeting (RUPS) which was attended by the company's directors, commissioners, here Monday.

Present at the meeting was also Sahala Lumban Gaol, deputy state enterprise minister in charge of mining, strategic industries, energy and telecommunication (PISET).

The RUPS was also told Pertamina's consolidated revenue in 2008 totaled Rp554.21 trillion, up 44.5 percent from Rp383.60 trillion in 2007.

"As the shareholders' representative, we appreciate the performance of Pertamina's executives, based on the implementation of good corporate governance (GCG)," Sahala Lumban Gaol said.

He explained the net profit of the oil company amounting to Rp30.20 trillion exceeded the target which had been set in the Company Budget Working Plan (RKAP) 2008 at Rp25.445 trillion.

With the achievement, the health rating of Pertamina which covered the financial, operational, and administrative aspects was 81.25 or AA (healthy/sound).

Meanwhile, the GCG rating of Pertamina jumped from 74 percent in 2007 to 80 percent in 2008.

Last year, Pertamina's investment reached Rp12.99 trillion compared with Rp6.96 trillion in 2007.

However, Sahala Goal did not give details of the amount of dividends to be paid by Pertamina to the nation.

"It has not been decided, because the results of the audit has not been completed. But they have suggested that it should be the same amount like last year, namely 45 percent of the net profit," he said.

He also did not mention the internal dividend of the state oil company.

"Pertamina is a big company, so it has to be adjusted to the company's condition," he said.

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