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Pupuk Indonesia Makes It To The Top 500 Best Companies In ASEAN According To Fortune

PT Pupuk Indonesia (Persero) achieved positive performance in the fiscal year 2023, making this state-owned enterprise in the fertilizer and petrochemical industry listed in the Fortune Southeast Asia 500 for the year 2024. The list was released by the reputable global multi-platform media company, Fortune, ranking companies based on their revenue in the Southeast Asia region. In 2023, Pupuk Indonesia generated a revenue of Rp79.2 trillion, securing the 71st position on the list.

This achievement is undoubtedly a result of the company's consistency in fulfilling its mandate as a cornerstone of national food security. Pupuk Indonesia's President Director, RahmadPribadi, expressed, "Alhamdulillah, this year Pupuk Indonesia made it to the Fortune Southeast Asia 500 list. This is a testament to the hard work of all members of the Pupuk Indonesia Group. We always strive to leverage every growth opportunity and challenge to solidify our position as a key player in building sustainable agricultural self-sufficiency.

We are committed to strengthening the foundation we have laid, facing every challenge with the spirit to continue growing and evolving. Moving forward, we will continue to boost production to support national food security and respond to the global market."

Being among the top 500 companies in ASEAN showcases Pupuk Indonesia's capacity as a strategic industry at both regional and global levels. This ranking includes companies from seven ASEAN countries: Indonesia leads with 110 companies, followed by Thailand with 107 companies. Malaysia surpasses Singapore with 89 companies compared to 84. Vietnam has 70 companies on the list, the Philippines with 38, and Cambodia with two.

In addition to the performance of all Pupuk Indonesia employees, Rahmad also emphasizes that collaboration and support from the government are also important factors in the company's progress.

"Being one of the state-owned enterprises that entered the top 500 rankings in ASEAN is certainly a pride of its own. The positive performance achievements of Pupuk Indonesia are certainly inseparable from the government's support, especially the Minister of State-Owned Enterprises for the past 5 years."

Last year, Pupuk Indonesia successfully demonstrated positive performance sustainability and the company's resilience in meeting market demands and government assignments. In terms of operations, Pupuk Indonesia has realized a production of 18.84 million tons (audited), with a composition of 11.65 million tons of fertilizer and 7.12 million tons of non-fertilizer. In addition, sales realization (audited) amounted to 11.71 million tons, with 10.38 million tons of fertilizer and 1.33 million tons of non-fertilizer.

Various innovations and corporate actions have also been carried out by Pupuk Indonesia. Through the inauguration of the NPK fertilizer plant Pupuk Iskandar Muda (PIM) with a production capacity of 500 thousand tons per year, the groundbreaking of the PupukSriwidjaja (Pusri) 3B project to rejuvenate old fertilizer plants with the latest technology aimed at improving production efficiency, and the development of the Pupuk Industrial Zone in Fakfak with a urea fertilizer production capacity of 1.15 million tons, Pupuk Indonesia demonstrates its commitment to increasing fertilizer production capacity throughout Indonesia.

This development is in line with the potential where ASEAN is currently a dynamic and rapidly developing region, with major economies growing faster than Europe or the United States. This growth is largely due to the increasing role of ASEAN in the global economy, especially because many multinational companies are moving more of their supply chains to ASEAN countries.

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Tag: ASEAN PT Pupuk Indonesia (Persero)