Large firms reminded to help cooperatives<\/p>\n
JAKARTA (JP): Minister of Cooperatives and Small Enterprises
\nSubiakto Tjakrawerdaya warned large companies again yesterday to
\ngive a portion of their shares to cooperatives to help narrow the
\ngap widening between large and small-business entities.<\/p>\n
\"I once again appeal to the large companies to fulfill their
\ncommitment to give a part of their shares to cooperatives,\" he
\nsaid at a ceremony marking the official transfer of a small
\nportion of shares of the publicly-listed PT Keramika Indonesia
\nAssosiasi (KIA) to various cooperatives.<\/p>\n
KIA, a tile producer, donated around 600,000 of its Rp 1,000-
\nface value shares to 17 cooperatives in Jakarta.<\/p>\n
Subiakto said that the distribution of shares to cooperatives
\nwill help to reduce existing social and financial gaps.<\/p>\n
However, he complained that only few companies have followed
\nthe partnership plan initiated by President Soeharto several
\nyears ago to help alleviate society's financial inequities.<\/p>\n
The cooperatives minister said that the number of large
\ncompanies giving their shares to cooperatives has thus far
\nreached a total of 185, mostly listed, companies. The number of
\nshares distributed is roughly 80.9 million, with a market value
\nof approximately Rp 160 billion (US$72.72 million), while the
\nnumber of the recipients has reached a total of 1968
\ncooperatives.<\/p>\n
He said that the distribution of shares to cooperatives should
\nbe considered a donation. Recipients are not allowed to sell
\ntheir shares and Subiakto promised that his office would impose
\nstrong penalties on cooperatives found selling their shares to
\nother parties or to existing shareholders.(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/large-firms-reminded-to-help-cooperatives-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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