Three SOE Holding Companies Formed in 2012; New Minister Says

JAKARTA: Dahlan Iskan, The new Minister of State-Owned Enterprises ensured three state-owned holding companies will be effectively established next year, running in plantation, forestry, and pharmacy.

The process of forming those three holding companies is actually in the stage of getting approval from the Ministry of Finance, Dahlan said.

"At first I didn't know the update on the matter, but it turns out that the process of forming a holding has been steady," he said after the weekly meeting of State Owned Enterprises (SOEs) Ministry.

He is targetting the holding company for plantation SOEs will be effective on January 11 next year, while the forestry SOEs will be on February 26, and the pharmaceutical SOEs will be effective in June 2012.

The holding company of plantation SOEs will include 11 companies under the name of PT Perkebunan Nusantara. PT Rajawali Nusantara Indonesia (RNI) will be merged to the holding company.

As for the forestry sector, the ministry will merge two SOEs; Perhutani and PT Inhutani IV. In addition, two pharmaceutical SOEs; PT Indofarma Tbk and PT Kimia Farma Tbk will be merged with Kimia Farma as the surviving entity.

In the future, the government will also establish holding company for SOEs running in construction, infrastructure, and tourism sector. Under such plan, the number of SOEs in Indonesia will be rightsized from 159 to 78 SOEs by 2014.

Seven SOEs will be transformed into a subsidiary by other SOEs. Those SOEs are PT Energy Management Indonesia, PT Balai Pustaka, PT Pradnya Paramitha, PT Survai Udara Penas, and Perum Produksi Filem Negara.

Some SOEs ready to adopt those SOEs as their subsidiaries are PT Adhikarya Tbk, PT Perusahaan Perumahan Tbk (PP), and PT Angkasa Pura (AP) I. Adhikarya is interested to adopt two SOEs dan PT PP is willing to take over one SOE.

Perform better

Director General of Plantation at Ministry of Agriculture Gamal Nasser expected the plantation SOEs will financially perform better under the new holding company, as it now has IDR30 trillion of assets.

"Positive, in terms of performance," he said.

He also confirmed the Ministry of SOEs is still studying about the plan to form an ideal format of holding company in the plantation sector.

Separately, Corporate Secretary of PT Perkebunan Nusantara X Djoko Santoso said the company was invited to discuss plans for the formation of holding company in Bandung next Monday.

Secretary General of Ministry of Forestry Hadi Daryanto said the establishment of holding company for state-owned forestry companies will give positive impact to the forestry development in Indonesia.

By        : Dahlan Iskan

Sourch  : Bisnis