On IBRA's plan to form holding companies<\/p>\n
The Indonesian Bank Restructuring Agency (IBRA) plans to
\npropose the formation of two holding companies by the end of this
\nyear at the latest. According to IBRA chairman I Putu Gede Ary
\nSuta, these companies will be required to manage IBRA's assets,
\nas its term of operation ends in two years.<\/p>\n
The plan is for the first holding company to manage IBRA's
\nproperty assets, while the second is to accommodate IBRA's
\nownership (equity) in various companies.<\/p>\n
Putu's statement answered some of the questions about what
\nwill happen after IBRA's termination, as there are worries
\nconcerning the likelihood that a number of problems might not be
\nsolved, such as the management of IBRA's wide-ranging assets.<\/p>\n
The next question is whether forming such holding companies is
\nthe only way out. There are an enormous number of assets to be
\nmanaged. There is a 16,000 hectare plot of land in Pulau Bintan,
\nPutu revealed. More extensive studies need to be conducted,
\nespecially in the light of existing experiences.<\/p>\n
Previously, IBRA had already formed a company with a similar
\nfunction, Holdiko, which is handling Salim's assets under IBRA.
\nHowever, Putu said that this time IBRA is preparing a concept to
\nbe submitted to the Fiscal Sector Policy Committee.<\/p>\n
During preparation, there will be an opportunity to look into
\nevery aspect, for example on the scope of operation for each
\nholding company, on its authority and who to report to.<\/p>\n
The word is that both companies will function as sort of
\nstate-owned enterprises. If this is true, then today's reality
\nhas to be taken into account in so far as the dire urgency to
\nreduce the current massive number of state-owned enterprises is
\nconcerned. It is common knowledge that the government's earnings
\nare virtually worthless when compared to their assets and the
\neffectiveness of their management leaves a lot to be desired.<\/p>\n
Two years is certainly not a short period and many things can
\nhappen, good or bad. It does not mean that there is no
\nopportunity to take a look from all sides before finally making a
\ndecision.<\/p>\n
-- Koran Tempo, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/on-ibras-plan-to-form-holding-companies-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }