JAKARTA (TheInsiderStories) - Various state-owned enterprises shares will offer to the global investors through Indonesia Investment Authority (INA), said the government official on Wednesday (02/03). Some of the assets are PT Dayamitra Telekomunikasi (Mitratel), a unit of telco operator, PT Telkom Indonesia Tbk (IDX: TLKM) and PT Bank Syariah Indonesia Tbk (IDX: BRIS).
Deputy minister for state own enterprises (SOEs), Kartika Wirjoatmodjo, said virtually, the plans is part of the sovereign wealth fund’ medium-term investment strategy to offers various choice of assets to the investors. The other assets prepared by the ministry are venture capital firms, PT MDI Ventures, PT BRI Ventures, PT Mandiri Capital, also LinkAja and startup companies managed by the SOEs.
Telkom has announced to list Mitratel shares in the last quarter of this year, or not later than the first quarter of 2022. The unit is engaged in the telecommunications infrastructure and managed more than 34,000 towers. After the IPO, the provider has the potential to become the largest tower company in Indonesia.
As reported, the government pledged SOEs shares of Rp50 trillion (US$3.57 billion) at INA and injected fresh capital Rp10 trillion in the sovereign wealth fund body. The establishment of this institution aimed to seize the investment opportunities and alternative solutions for development financing in the country.
In the first quarter of this year, the new agency is expected to raises new investment around $20 billion. The optimism come after government do their efforts by approached the potential investors, such as United Arab Emirates (UAE), Japan, Britain, Germany, and United States.
INA will serve as government-owned private equity that can be used as investment vehicle for the global investors, especially for infrastructure project development. The form of the new investment body regulated at the Omnibus Law for Job Creation.
Based on the law, minister of finance will chair as the steering board of the new agency with member SOEs minister and independent commissioner. They have responsibility to proposes the board commissioners and submit the accountability report to the head of state, also determine the initial capital of the investment of the body.
They also provides direction and establishes policies for investment, remuneration of the steering board and commissioners, establishes an annual work plan and budget, along with key performance indicators.
US$1: Rp14,000
Written by Editorial staff, Email: theinsiderstories@gmail.com
