Two of Indonesia's biggest defence firms, naval shipbuilder PT PAL and aerospace manufacturer PT Dirgantara (PTDI), posted expanding losses in 2016, partly as a result of efforts to upgrades production facilities, Indonesia’s Ministry of State-Owned Enterprises said on 13 September.
The ministry said that PT PAL’s losses in 2016 were IDR395.2 billion (USD30 million), an increase on the losses of IDR187.2 billion posted one year earlier. PTDI registered a deficit of IDR271.2 billion in 2016, compared to losses of IDR50.5 billion one year earlier.
It added that both state-owned defence companies had been given access to government funds to support their respective efforts to modernise.
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