PT Asabri proposes PMN IDR 3.61 T to overcome negative equity and investment asset shortage

TEMPO.CO, Jakarta -PT Asabri (Persero) requests state capital participation (PMN) amounting to IDR 3.61 for the 2025 budget. This capital is expected to be used to increase the company’s negative equity.

“The PMN money will be used for purchases SBN (90 percent) and corporate bonds (10 percent), generating new income from these investments,” said PT Asabri President and CEO Wahyu Suparyono during a meeting with Commission VI at the Parliament Complex, Senayan, Jakarta, Wednesday, July 10, 2024.

Therefore, Wahyu said it is hoped that this capital injection from the country will solve the problems of negative equity, long-term solvency and lack of investment assets.

“So that Asabri can ensure that he can meet the payment obligations to TNI, Polri and ASN soldiers within the Ministry of Defense and Polri,” Wahyu said.

However, Wahyu said the company he leads has been facing several problems, such as negative equity caused by a decline in the fair value of investment assets, the loss ratio and an increase in reserve costs. He predicts that this decline will continue.

“The solvency of the company does not guarantee the continuity of the company,” he said.

In addition, Wahyu said that due to the large amount of non-productive investment assets, the number of investment assets currently owned by the company has not been able to produce results to cover the difference between claim payments and premium recipients.

In addition, the high claims burden compared to premium income is a result of the need for other sources of financing or income to cover the difference between premiums and claims costs.

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“Since 2017 holes “This is achieved through investment returns and the liquidation of investment assets,” he said.

Not only that, Wahyu also said that his company was also old enough to overcome this problem. He says that the company has calculated the reserves for the THT program since 2021 based on the discount rate set by the Minister of Finance.

In addition, Asabri has also received a UPSL of IDR 4.55 trillion in 2022 and 2023, resulting from the impact of changes in claim benefits and encouraging the sale of confiscated assets.

‘Because the strategic steps taken above are not expected to yield results sustainability “In the long term, the company plans to propose a PMN of IDR 3.61 trillion for the 2025 APBN,” Wahyu said.

Meanwhile, Wahyu said that Asabri had paid the pension program to 484 thousand participants last year, 2023, with a total payment of IDR 17.2 trillion. In addition to pension money, he said, Asabri has also paid claims for the THT, JKK and JKM programs worth IDR 1.7 trillion.

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