ID :
23316
Wed, 10/08/2008 - 21:45
Auther :
Shortlink :
http://m.oananews.org//node/23316
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JAMSOSTEK`S NET PROFIT MAY DECLINE
Jakarta, Oct 8 (ANTARA) - The net profit of workers insurance company PT Jamsostek may decline to less than Rp1 trillion next year, while this year it may reach Rp1.117 trillion, its president director, Hotbonar Sinaga, said here on Wednesday.
"It will drop because of the impact of the financial crisis in the US and Europe on money market conditions," he said at the office of the state enterprises minister.
Sinaga said under current condition that has also affected the country's stock exchange PT Jamsostek had to be more prudent in managing its investment funds.
He said out of around Rp62 trillion that it now managed 46 percent were put in bonds while 30 percent in time deposits and 20 percent in shares.
He predicted the company would suffer a loss following a slump in the share price at the Jakarta Stock Exchange although it would not be too significant and in parallel direction.
"The condition will be mark to market. However when the share market will rebound no one knows," he said referring to finance minister Sri Mulyani who predicted the stock market would likely be restored in the third or fourth quarter of next year.
In view of that he said PT Jamsostek had to be prudent in managing its funds by maintaining to place them to time deposits and bonds.
"The risk of putting the money in the time deposit will not be so big as in shares," he said.
He said PT Jamsostek's time deposits totalled Rp20 trillion spreading in a number of banks such as Bank BRI (Rp3 trillion), Bank BNI (Rp2.7 trillion), Bank Mandiri (less than Rp1 trillion), Bank BTN, Bank Expor Indonesia and some regional development banks.
He said although there was always Rp500 billion in fresh money every month from members' contribution the company would rather put its funds in time deposits to assure its safety.
He said the bonds that the company chose for investment were state bonds like the SPN (state treasury bonds), the SUN (state bonds) and ORI (Indonesia retail bonds).
He said PT Jamsostek's active members who regularly paid a contribution now reached eight million, while its inactive members reached 16 millions.
"It will drop because of the impact of the financial crisis in the US and Europe on money market conditions," he said at the office of the state enterprises minister.
Sinaga said under current condition that has also affected the country's stock exchange PT Jamsostek had to be more prudent in managing its investment funds.
He said out of around Rp62 trillion that it now managed 46 percent were put in bonds while 30 percent in time deposits and 20 percent in shares.
He predicted the company would suffer a loss following a slump in the share price at the Jakarta Stock Exchange although it would not be too significant and in parallel direction.
"The condition will be mark to market. However when the share market will rebound no one knows," he said referring to finance minister Sri Mulyani who predicted the stock market would likely be restored in the third or fourth quarter of next year.
In view of that he said PT Jamsostek had to be prudent in managing its funds by maintaining to place them to time deposits and bonds.
"The risk of putting the money in the time deposit will not be so big as in shares," he said.
He said PT Jamsostek's time deposits totalled Rp20 trillion spreading in a number of banks such as Bank BRI (Rp3 trillion), Bank BNI (Rp2.7 trillion), Bank Mandiri (less than Rp1 trillion), Bank BTN, Bank Expor Indonesia and some regional development banks.
He said although there was always Rp500 billion in fresh money every month from members' contribution the company would rather put its funds in time deposits to assure its safety.
He said the bonds that the company chose for investment were state bonds like the SPN (state treasury bonds), the SUN (state bonds) and ORI (Indonesia retail bonds).
He said PT Jamsostek's active members who regularly paid a contribution now reached eight million, while its inactive members reached 16 millions.
