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Jakarta, CNBC Indonesia – The government has determined that the Sovereign Wealth Fund (SWF) or the Indonesian Funding Agency (LPI) called the Indonesian Investment Authority (INA) is obliged to provide dividends or net income earnings to the government.
The amount of the dividend is set at a maximum of 30% of the previous year’s earnings. This was conveyed by Finance Minister Sri Mulyani Indrawati in a virtual working meeting with Commission XI of the Indonesian Parliament on Monday (1/25/2021).
“The dividend for the government is at most 30% of the previous year’s earnings. Therefore, the side (the gain) will remain the capitalization of the LPI,” he said.
This provision is also established in article 50 regarding the use of profits in PP No. 74 of 2020 relative to investment management institutions, where it is established “Division benefit for government How is it referred to in verse 6 maximum 30% since profit.”
Regarding the initial capital for the formation of the LPI, the government disbursed funds of 15 trillion IDR from the 2020 State Budget.
Meanwhile, the additional capital to organize the LPI will be added by IDR 75 billion or more.
In 2021 a budget of IDR 75 trillion or more will be awarded in stages. Additional capital of more than 75 trillion IDR was realized through PMN (state equity participation) and capitalization of LPI’s retained earnings.
With this additional capital, it is expected to increase investment capacity and increase investor confidence in the LPI as a well-capitalized institution.
“The capitalization increase is arranged in PP 74/2020 through PMN in the form of cash funds, BMN [barang milik negara], state accounts receivable and BUMN or limited liability company or state-owned shares in BUMN ”, said the minister.
In comparison, in the years before the impact of Covid-19, The amount of dividends is moderate for BUMN companies at 20 to 45 percent, especially for state commercial companies.
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