Five state public works firms perform poorly<\/p>\n
JAKARTA (JP): Five of the 19 state enterprises under the
\nMinistry of Public Works are unhealthy and four are less healthy,
\nthe ministry's secretary-general said yesterday<\/p>\n
Ruslan Diwiryo said the five companies were categorized as
\nunhealthy on the basis of their audited 1995 financial reports.
\nThey are PT Brantas Abipraya (contractor), PT Indra Karya
\n(consultancy), PT Virama Karya (consultancy), PT Sarana Karya
\n(asphalt buyer) and PT Amarta Karya (heavy equipment renter).<\/p>\n
The less healthy firms are PT Hutama Karya (contractor), PT
\nNindya Karya (contractor), PT Pembangunan Perumahan (property
\ndeveloper) and PT Waskita Karya (property developer).<\/p>\n
Diwiryo classified the 19 enterprises into four groups:
\nUnhealthy, less healthy, healthy and very healthy. Their
\nassessment was based on achievements compared to annual targets.<\/p>\n
A major factor hobbling the companies' performance was the
\npayment of yen-denominated loans from the Overseas Economic
\nCooperation Fund of Japan in U.S. dollars when the yen had
\nappreciated against the dollar, he said.<\/p>\n
Amarta Karya and Indra Karya did not reach their break even
\npoints in 1995, Diwiryo was quoted by Antara as saying.<\/p>\n
He said that six companies were healthy: PT Adhi Karya
\n(contractor), PT Wijaya Karya (contractor), PT Bina Karya
\n(consultancy), PT Indah Karya (consultancy), PT Yodya Karya
\n(consultancy) and Perum Otorita Jatiluhur (Jatiluhur dam
\nmanager).<\/p>\n
PT Jasa Tirta (Brantas River manager), PT Istaka Karya
\n(contractor\/consultancy), Perum Perumnas (property developer) and
\nPT Jasa Marga (toll road manager) were considered very healthy.<\/p>\n
The ministry considers Jasa Marga to be its favorite profit
\ncenter.<\/p>\n
Diwiryo said the 19 companies had a total revenue in 1995 of
\nRp 4.7 trillion (US$1.9 billion) and a total profit of Rp 4.9
\nbillion.<\/p>\n
The companies' total revenue was estimated to increase to Rp
\n5.3 trillion for 1996 and total profit to Rp 5 billion, he said.<\/p>\n
Their total assets, he said, were estimated to increase from
\nRp 5.8 trillion in 1995 to Rp 6.9 trillion in 1996 and their
\ncapital from Rp 1.98 trillion to Rp 2 trillion.<\/p>\n
Diwiryo said the 19 companies' 1996 financial reports had not
\nbeen audited by the Government Development Finance Comptroller.
\n(10)<\/p>",
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