Government plans to sell 15% stake in Sucofindo
Government plans to sell 15% stake in Sucofindo
JAKARTA (JP): The government will sell about 15 percent of its
shares in state-owned surveying company PT Sucofindo as part of
the company's privatization plan, a senior executive of the
company said.
Sucofindo's president Didie B. Tedjosumirat said here on
Thursday that the privatization would be launched in October this
year.
"We are currently in the process of appointing a legal
consultant who will ensure that the privatization process is done
according to the law," he added.
The government owns a 95 percent stake in Sucofindo, with
Geneva-based Societe Generale de Surveillance (SGS) owning the
remaining 5 percent.
Didie acknowledged that priority would be given to SGS, as
Sucofindo's long-time strategic partner, to obtain the 15 percent
shares to be divested by the government and would only offer them
to other investors if SGS declined.
Many investors had shown an interest in obtaining the shares,
including some from France and Switzerland, he added, without
disclosing any names.
The company's privatization plan was prepared in early 1998
but its realization has been delayed due to a change in the
government's privatization team.
Separately, Minister of Industry and Trade Luhut B. Panjaitan
authorized Sucofindo on Thursday to issue a certification for
general auto workshops, a certification program launched to
ensure more protection for consumers.
Sucofindo was also assigned to monitor certified auto
workshops and to give sanctions should they operate out of line
with their classification criteria, Antara reported.
The ministerial decree dated June 15, 2001, also stipulated
that Sucofindo inform the public on the classifications of auto
shops and to develop an information system that could be accessed
by both auto workshops and the public.
The surveyor company should also publish a monthly report on
classification updates and the results of its monitoring process
to the ministry.
Auto workshops are classified based on quality, mechanical
expertise, facilities, and information management.
They are also divided into workshop types depending on the
kinds of auto repairs and maintenance they are able to provide.
Type A workshops, for instance, provide routine maintenance,
minor and major repairs and body and chassis repairs.
The classification will be done in stages and be formalized by
the directorate general of metal, machineries, electronics, and
various industries of the ministry of industry and trade. (tnt)