Government to Propose Privatizations in 2009
VIVAnews - The Department of State-Owned Enterprises (SOEs) will propose privatization of 30 state-owned companies in 2009, a decrease from the previous plan of 44 companies. Although the privatization continues, the market situation still needs to be observed.
"The privatizations in 2009 will be mostly concerned with those postponed in 2008," said Deputy of the Department of SOEs Privatization Division M. Yasin on Tuesday, Dec 30.
According to Yasin, most privatizations are carried out through an initial public offering (IPO) with average released shares reaching 20 percent.
As for SOEs having minor share ownership, he said, special mechanism such as a direct share offer to existing share owners will be applied.
The government has been holding privatization agreements, especially for small SOEs, including PT Bahtera Adiguna, PT Pembangunan Perumahan, PT Waskita Karya and PT Bank Tabungan Negara. In addition, PT Garuda Indonesia is still being discussed by the House of Representatives (DPR).
He went on to say that other SOEs like PT Adhi Karya Tbk (ADHI) will hold rights issue. "Greenshoe of Bank Negara Indonesia (BNI) has been approved by DPR, although there is not yet any governmental regulation on the issue. In fact, BNI has asked to expedite the process, although the market does not provide the chance," he said.
Translated by: Bonardo Maulana Wahono
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