The Jakarta administration will receive a total of Rp 100.47 billion (US$ 6.257 billion) in dividends from publicly listed beer firm PT Delta Djakarta, in which the city owns a 26.25 percent stake.

Jakarta development body for city-owned companies (BP BUMD) acting head Riyadi confirmed on Thursday that the city administration would receive the entire amount.

“The Jakarta administration will comply with the outcome of PT Delta Djakarta’s shareholders’ meeting [RUPS], in which it was decided that each share costs Rp 478. Therefore, the Jakarta administration, which currently owns 210.2 million shares, will receive Rp 100.47 in dividends,” he told The Jakarta Post on Thursday.

The figure is almost double the city administration's projection of Rp 50.4 billion.

Delta Djakarta produces various brands of beer, such as Anker, Carlsberg and San Miguel.

During the 2017 gubernatorial election campaign period, Jakarta Governor Anies promised to sell the city’s stake in the beer company, claiming that it did not contribute to the livelihood of Jakartans.

He further said the company's profit was insignificant and that he had sent a letter to the City Council twice, last year and earlier this year, requesting a hearing to discuss releasing the shares.

However, no progress has been made so far as several councillors reportedly opposed the recommendation. (iwa)