State-owned enterprises of Indonesia

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The BUMN Untuk Indonesia ("SOEs for Indonesia") campaign was launched by the Ministry of State Owned Enterprises in April 2020;[1] this logo was introduced together with a rebranding of the Ministry effective in 1 July 2020. It replaces the BUMN Hadir Untuk Negeri ("SOEs Serving the Nation") campaign, launched in 2016 in conjunction with the Ministry's 18th anniversary.[2] The logo above appears in nearly all publicity made by Indonesian SOEs (usually placed in the upper-left corner), except Garuda Indonesia

In Indonesia, state-owned enterprises (Indonesian: Badan Usaha Milik Negara (BUMN)) play an important role in the national economy. Their roles includes contributor for national economy growth, providing goods or services which are not covered by private company, employment provider, providing support guidance to small and medium businessess, and source of government revenue .[3] The Ministry of State Owned Enterprises represents the government's function as a shareholder of those companies.

Aside from SOEs, there are also provincially- or municipally-owned corporations, locally known as Badan Usaha Milik Daerah (BUMD). The primary difference between BUMNs and BUMDs is the ownership of the enterprise, whereas BUMNs is controlled by Ministry of State Owned Enterprise while BUMDs is directly controlled by local government. BUMDs roles are similar with BUMNs, with heavy emphasis on providing goods or services to the local community.


Dutch colonial era[edit]

Headquarters of the Posts, Telegraph and Telephone Service of the Dutch East Indies, built simultaneously with the above building, now headquarters of Pos Indonesia

During the Dutch colonial era, the government had a monopoly on the opium, pawnbroking (nationalized in 1 April 1901), posts (including the Post Office Savings Bank), telegraph and telephone industry, as well as owning most of the railways and electric utilities. They are managed by the Department of State-Owned Enterprises (Dutch: Department van Gouvernementsbedrijven).


By the end of the Dutch–Indonesian Round Table Conference, the Indonesian government had a major or complete ownership on the public utility, buses, railways, banks and communications.

With the beginning of Guided Democracy in Indonesia, many Dutch-owned companies, or Indonesian branches of Dutch companies, were nationalized (see Nationalized Dutch companies below).

During the New Order, the nationalized companies were still state-owned. Some of the companies were listed in the Jakarta Stock Exchange later on.

Today the largest banks in Indonesia are mostly state-owned.[citation needed]

List of foreign companies nationalized during Guided Democracy[edit]

Types of SOEs[edit]

Since 2003, there are two types of state-owned enterprises (SOEs) in Indonesia:

  • Perusahaan Umum (Perum) (lit. "public company"), are statutory public-benefit corporations with no shareholders. The main purpose of these SOEs is to provide goods and/or services to public. These firms are allowed to pursue profits. Perums, however, are increasingly rare as the government are converting many of them into perusahaan perseroan (see below), especially after the 1980s.
  • Perusahaan Perseroan (Persero) are SOEs which are perseroan terbatas (PT) (i.e. a joint-stock company). This type of SOE is more independent than the Perums and the main goals of these firms are to gain profits and contribute to government revenue. This type of SOE is easy to recognize because they have the term Persero attached to their names. These SOEs, however, are subject to general perseroan terbatas laws, and similar to ordinary PTs its establishment and amendments to its articles of association, including increases to its capital, must be executed before a civil law notary with a notarial act, unlike Perums where its Articles of association (including amendments and capital increases) is directly legislated.
    There are two sub-type of Perusahaan Perseroan:
  1. Perusahaan Perseroan Terbuka (Persero Tbk.), or Public company, which are enterprises whose ownership belongs both to the government and to the general public which issue freely traded shares the stock exchange (or in over the counter markets). This subtype of SOEs also has the suffix Tbk. attached to their names.
  2. Perusahaan Perseroan Pemerintah which are enterprises whose ownership are 100% government-owned.

Until 2003, there was also another type of SOE called Perusahaan Jawatan (Perjan/PJ) (lit. service company) which had operational costs funded from the national budget. Employees of these SOEs were civil servants and the companies were regarded as government agencies. Firms in this category have been either upgraded into other types of SOEs or converted into government agencies.

List of companies[edit]

Information on the state-owned enterprises (SOEs) is drawn from the Ministry of State Owned Enterprises portal.[4]

Indonesian SOEs subdivided into 12 clusters.

Telecommunications and Media Services
Company Common Name Sector Website
PT Telekomunikasi Indonesia Tbk Telkom Information and Telecommunication
Perum Produksi Film Negara PFN Information and Telecommunication
Energy, Oil, and Gas Industry
Company Common Name Sector Website
PT Perusahaan Listrik Negara (Persero) PLN Electricity Supply
PT Perusahaan Gas Negara (Persero) Tbk PGN Gas, Steam and Cold Air Supply
PT Pertamina (Persero) Pertamina Mining and Exploration
PT Energy Management Indonesia (Persero) EMI Energy
Tourism Services
Company Common Name Sector Website
PT Garuda Indonesia (Persero) Tbk Garuda Indonesia Air Transportation
PT Angkasa Pura I (Persero) Angkasa Pura I Airport Management
PT Angkasa Pura II (Persero) Angkasa Pura II Airport Management
PT Hotel Indonesia Natour (Persero) Inna Accommodation and Food & Beverages Services
PT Pengembangan Pariwisata Indonesia (Persero) Indonesia Tourism Development Corporation (ITDC) Real Estate
PT Taman Wisata Candi Borobudur, Prambanan, & Ratu Boko (Persero) TWC, BP, and RB Real Estate
PT Sarinah (Persero) Sarinah Wholesaler and Retail Trade
Perum Lembaga Penyelenggara Pelayanan Navigasi Penerbangan Indonesia AirNav Indonesia Air Traffic Management
PT Survai Udara Penas (Persero) Penas Surveyor, Certification and Industrial Consultant
Insurance Services
Company Common Name Sector Website
PT Jaminan Kredit Indonesia Jamkrindo Financial Services and Banking
PT ASABRI (Persero) ASABRI Army Insurance
PT Asuransi Jasa Indonesia Asuransi Jasindo Insurance
PT Asuransi Jiwasraya (Persero) Jiwasraya Insurance
PT Jasa Raharja Jasa Raharja Insurance
PT Asuransi Kredit Indonesia Askrindo Insurance
PT Bahana Pembinaan Usaha Indonesia (Persero) Bahana Investment Holding
PT Reasuransi Indonesia Utama (Persero) Indonesia Re Insurance
PT Taspen (Persero) Taspen Pension Fund Management
Financial Services
Company Common Name Sector Website
PT Bank Mandiri (Persero) Tbk Bank Mandiri Financial Services and Banking
PT Bank Negara Indonesia (Persero) Tbk Bank BNI Financial Services and Banking
PT Bank Rakyat Indonesia (Persero) Tbk Bank BRI Financial Services and Banking
PT Bank Tabungan Negara (Persero) Tbk Bank BTN Financial Services and Banking
PT Bank Syariah Indonesia (Persero) Tbk Bank BSI Financial Services and Banking
PT Danareksa (Persero) Danareksa Financial Services and Banking
PT Pegadaian (Persero) Pegadaian Financial Services and Banking (Mortgage)
PT Permodalan Nasional Madani (Persero) PNM Financial Services and Banking
PT Perusahaan Pengelola Aset (Persero) PPA Financial Services and Banking
Perum Percetakan Uang Republik Indonesia Peruri Printing
Food and Fertilizer Industry
Company Common Name Sector Website
Perum BULOG BULOG Food Supply Chain
PT Perusahaan Perdagangan Indonesia (Persero) Indonesia Trading Company (ITC) Wholesaler and Retail Trade
PT Bhanda Ghara Reksa (Persero) BGR Logistic and Freight
PT Berdikari (Persero) Berdikari Livestock Wholesaler and Retail Trade
PT Sang Hyang Seri (Persero) Sang Hyang Seri Agriculture
PT Pertani (Persero) Pertani Plantation
Perum Perikanan Indonesia Perindo Fishery
PT Perikanan Nusantara (Persero) Perinus Fishery
PT Pupuk Indonesia (Persero) Pupuk Indonesia Processing Manufacture
PT Rajawali Nusantara Indonesia (Persero) RNI Plantation
PT Garam (Persero) Garam Processing Manufacture
Infrastructure Services
Company Common Name Sector Website
PT Jasa Marga (Persero) Tbk Jasa Marga Road and Highway Management
PT Adhi Karya (Persero) Tbk Adhi Construction
PT Hutama Karya (Persero) HK Construction
PT Waskita Karya (Persero) Tbk Waskita Construction
PT Nindya Karya (Persero) Nindya Construction
PT Pembangunan Perumahan (Persero) Tbk PP Construction
PT Wijaya Karya (Persero) Tbk Wika Construction
Perum Pembangunan Perumahan Nasional Perumnas Construction
PT Brantas Abipraya (Persero) Abipraya Construction
PT Semen Baturaja (Persero) Tbk Semen Baturaja Processing Manufacture
PT Semen Indonesia (Persero) Tbk Semen Indonesia Processing Manufacture
Plantation and Forestry
Company Common Name Sector Website
Perum Perhutani Perhutani Forestry
PT Perkebunan Nusantara I (Persero) PTPN I Plantation
PT Perkebunan Nusantara II (Persero) PTPN II Plantation
PT Perkebunan Nusantara III (Persero) PTPN III Plantation
PT Perkebunan Nusantara IV (Persero) PTPN IV Plantation
PT Perkebunan Nusantara V (Persero) PTPN V Plantation
PT Perkebunan Nusantara VI (Persero) PTPN VI Plantation
PT Perkebunan Nusantara VII (Persero) PTPN VII Plantation
PT Perkebunan Nusantara VIII (Persero) PTPN VIII Plantation
PT Perkebunan Nusantara IX (Persero) PTPN IX Plantation
PT Perkebunan Nusantara X (Persero) PTPN X Plantation
PT Perkebunan Nusantara XI (Persero) PTPN XI Plantation
PT Perkebunan Nusantara XII (Persero) PTPN XII Plantation
PT Perkebunan Nusantara XIII (Persero) PTPN XIII Plantation
PT Perkebunan Nusantara XIV (Persero) PTPN XIV Plantation
Mineral and Coal Industry
Company Common Name Sector Website
PT Indonesia Asahan Aluminium (Persero) Inalum Mining and Exploration
PT Bukit Asam Tbk Bukit Asam Mining and Exploration
PT Timah Tbk Timah Mining and Exploration
PT Aneka Tambang Tbk Antam Mining and Exploration
Manufacturing Industry
Company Common Name Sector Website
PT Industri Kereta Api (Persero) INKA Railway Manufacture
PT Pindad (Persero) Pindad Arm and Munition Manufacture
PT Sucofindo (Persero) Sucofindo Surveyor, Certification and Industrial Consultant
PT Surveyor Indonesia (Persero) Surveyor Indonesia Surveyor, Certification and Industrial Consultant
PT Dirgantara Indonesia (Persero) Indonesian Aerospace (IAe) Aircraft Manufacture
PT Len Industri (Persero) Len Industri Processing Manufacture
PT Krakatau Steel (Persero) Tbk Krakatau Steel Processing Manufacture
PT Dahana (Persero) Dahana Processing Manufacture
PT PAL Indonesia (Persero) PAL Indonesia Ship Manufacture and Dockyard Management
Logistics Industry
Company Common Name Sector Website
Perum DAMRI DAMRI Transportation
PT Kereta Api Indonesia (Persero) KAI Railway Service
PT Pos Indonesia (Persero) Pos Indonesia Post, Mail Service and Telecommunication
PT Pelayaran Nasional Indonesia (Persero) Pelni Sea Transportation
Perum Pengangkutan Penumpang Djakarta PPD Land Transportation
PT ASDP Indonesia Ferry (Persero) ASDP Indonesia Ferry River and Water Transport Provider
PT Pelabuhan Indonesia I (Persero) Pelindo I/IPC I Sea Port Management
PT Pelabuhan Indonesia II (Persero) Pelindo II/IPC II Sea Port Management
PT Pelabuhan Indonesia III (Persero) Pelindo III/IPC III Sea Port Management
PT Pelabuhan Indonesia IV (Persero) Pelindo IV/IPC IV Sea Port Management
PT Varuna Tirta Prakasya (Persero) VTP Logistics Logistic and Freight
Health Industry
Company Common Name Sector Website
PT Biofarma (Persero) Biofarma Pharmacy Manufacture
PT Industri Nuklir Indonesia (Persero) INUKI Processing Manufacture
PT Indofarma Tbk Indofarma Pharmacy Manufacture
PT Kimia Farma Tbk Kimia Farma Pharmacy Manufacture

See also[edit]


  1. ^ "Berharap Go Global, Erick Thohir Ganti Slogan 'BUMN Hadir untuk Negeri' jadi 'BUMN untuk Indonesia'". BusinessNews Indonesia. 14 April 2020. Retrieved 10 May 2020.
  2. ^ developer, medcom id (2016-04-13). "BUMN Hadir untuk Negeri di Hari Jadi ke-18 Tahun". (in Indonesian). Retrieved 2019-05-25.
  3. ^ "Indonesian - Role of BUMN |" (in Indonesian). Retrieved 6 June 2017.
  4. ^ "Klaster Industri". Retrieved 16 October 2020.

External links[edit]