Total net profit of Indonesia's state firms expected to rise 1.32 pct in 2014: minister

Indonesian minister for state- owned enterprises said on Monday his ministry forecast that the total net profit of the country's state firms would rise by 1.32 percent to 154 trillion rupiah (some 12.211 billion U.S. dollars) in 2014.

The state firms' revenue was forecast to increase by 6.7 percent to 1,912 trillion rupiah (some 151.61 billion U.S. dollars) in 2014, said the minister, Rini M. Soemarno.

Total capital expenditures of the firms last year rose by 20.28 percent to 255 trillion rupiah (about 20.219 billion U.S. dollars), said Rini.

On assets of the state companies, the minister said the total jumped by 5.95 percent to 4,467 trillion rupiah (354.19 billion U. S. dollars) in 2014.

Indonesia plans to inject funds and stop taking dividend from state firms this year, a move aiming at boosting their competitiveness at the global arena and increasing their roles in promoting domestic development, President Joko Widodo said last Thursday.

As many as 48 trillion rupiah (some 3.8 billion U.S. dollars) of funds would start to be channeled to the state companies this year, the president said.

Indonesia has more than 100 state-owned companies and plans to scale down the number in the future.