Eight state companies to be privatized this year<\/p>\n
JAKARTA (JP): The government will speed up the privatization
\nof eight state companies to raise much-needed funds to help
\nfinance the deficit in the April-December state budget.<\/p>\n
State Minister of Investment and State Enterprises Development
\nLaksamana Sukardi said on Thursday that the privatization would
\nbe carried out either through an initial public offering or
\ndirect placement.<\/p>\n
He said the government expected to raise some Rp 5.9 trillion
\nfrom the privatization of the eight companies, which operate in a
\nwide range of business activities.<\/p>\n
The companies are general mining company PT Aneka Tambang,
\nairport operator PT Angkasa Pura II, coal mining company PT Bukit
\nAsam, plantation companies PT Perkebunan Nusantara III and IV,
\nfertilizer producer PT Pupuk Kaltim and pharmaceutical
\nmanufacturers PT Indo Farma and PT Kimia Farma.<\/p>\n
Speaking at a hearing with the House of Representatives,
\nLaksamana said the eight companies were among the best managed
\nstate companies in the country. He believed the companies would
\nbe attractive to both local and foreign investors.<\/p>\n
The government expects to raise Rp 8 trillion (US$1.1 billion)
\nin funds from the privatization of state enterprises for the
\nApril-December budget.<\/p>\n
\"If there is a difficulty in selling stakes in the eight
\ncompanies, the government might opt to sell its shares in the
\ncompanies, which have already been listed in stock exchanges,\" he
\ntold the hearing.<\/p>\n
The listed state companies include PT Indosat, PT Telkom
\nIndonesia, Bank Negara Indonesia (Bank BNI), PT Timah and PT
\nAneka Tambang.<\/p>\n
Laksamana, who is also the chairman of the Investment
\nCoordinating Board, earlier said the government would further
\ndivest its shares in Indosat and Telkom by year-end. But the two
\ncompanies are not included on the new privatization list. (hen)<\/p>",
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