JAKARTA (TheInsiderStories) - The Indonesian government is still drafting Government Regulation (PP) on State Owned Companies Holding (PP Holding) that will become legal basis for the establishment of a number of holding companies being prepared by the State Owned Enterprise Ministry.
State Owned Enterprise Deputy Minister Fajar Harry Sampoerno said his office is still finalizing the PP Holding with other related parties as well as harmonize the planned ruling with the existing government rules.
“Once it is settled, the PP Holding will be brought to the President,” he said at a gathering at the SOE Ministry on Wednesday (Mar 22).
Based on the ministry’s roadmap, 26 SOEs will be sinergized in order to increase their values and leverage. In doing so, the SOE Ministry is in the process ofdeveloping a number of holdings based on sectors, including holdings for mining, cement, land, high technology, heavy equipment and shipping.
Meanwhile, Deputy SOE Minister for Restructuring Aloysius Kiik Ro said the ministry is currently focusing on establishing six holdings. “Holding for mining companies has made the most advanced progress,” he said.
Aloysius Kiik Ro said this week, the SOE ministry will continue to discuss the legal base for SOE holding, under the planned PP No. 72, 2017.
As for Freeport stakes, Harry said the SOEs in mining sector is ready to buy stakes of Freeport Indonesia, which will be divested by Freeport. “The SOE Ministry has sent a letter to the Finance Ministry and Energy and Mineral Resources Ministry over the interest of the SOE companies,” he said. (*)