Even though the share market tends to be fluctuative, five state-owned enterprises are set to list their shares on the Indonesia Stock Exchange (JSX) this year. The target was conveyed by Minister of State Enterprises, Dahlan Iskan in Jakarta on Wednesday (4/4).
PT Semen Baturaja (Person) is one of the five state-owned enterprises which have been included in the initial public offering (IPO) agenda. And, four other companies are subsidiaries of state-owned enterprises.
Dahlan was in the opinion that the idea of IPO of subsidiaries of state-owned enterprises is a good one as it will enhance effectiveness of control, especially by the public shareholders. The expectation is that the IPO will enhance effectiveness of control, especially by the public shareholders. The expectation is that the IPO will enhance good corporate governance, he said.
The implementation of IPO of the four subsidiaries of state-owned enterprises is being studied. Dahlan could not yet mention their names. He dared to make sure that all the four companies will be able to implement IPO. After being persuaded by journalists, Dahlan disclosed a little bit about the names of the subsidiaries, namely Pertagas, Pertamina Drilling, and PT Prima Layanan Nasional Engineering. We planned to increase investment this year, next year, and the year after next year. Investment will develop if the climate is supportive, the condition is supportive, and the regulations are conducive, he said.
Furthermore, the President expressed his optimism that the economy can be properly managed and maintained by the implementation of government’s policies so that economic growth can be maintained.
Throughout this month, the government is aggressively preparing a national Saving Movement. This Movement, in addition to it being expected to become a solution to the soaring oil fuel (BBM) subsidy if global oil prices are continuously increasing this year in order to prevent new debts. The core of the National Saving Movement is, amongst others, to reduce budgets of the ministries, state institutions, and regional governments.
The government will also implement five other policies this year. This is an action that must be taken if global oil prices continue to increase. Some of the policies are energy saving and encouraging of the use of domestic gas for the real sector and for power generator, increase of investment by maintaining conducive regulations and conditions and increase of state revenue.
The President is optimistic that movement can give a solution to save the national economy if this year global oil prices are continuously increasing considering the lengthening crisis on the Strait of Hormuz. This movement is also as attempt to prevent budget deficit so that it will not create additional debts.
Business News - April 11, 2012