JakartaPost-Dec 3, 2019

State-owned enterprises (SOEs) in the sectors of agriculture and aircraft and ship manufacturing, among other sectors, are on the brink of bankruptcy, according to Finance Ministry data. Finance Minister Sri Mulyani Indrawati said the SOEs, some of which have received state capital injections (PMN), were considered “distressed” based on the Altman Z-score, a formula used to predict the likelihood of a business going bankrupt. “Based on the indicators used to predict bankruptcy and liquidity problems, there are two distressed SOE categories below the 1.3 [safe net point] score, namely the agriculture and various industries categories,” she told the House of Representatives Commission XI overseeing financial affairs in Jakarta on Monday.

Read more at: https://www.thejakartapost.com/news/2019/12/02/soes-in-agriculture-various-industries-on-brink-of-bankruptcy-sri-mulyani.html