Pembangunan Jaya Ancol to go public this year
Pembangunan Jaya Ancol to go public this year
JAKARTA (JP): Despite being plagued by scandal, city-owned
developer and recreation operator PT Pembangunan Jaya Ancol is
expected to go public this year, City Governor Sutiyoso revealed
on Thursday.
"I hope before I end my term next year, there is a city-owned
company that has gone public. The company (Pembangunan Jaya
Ancol) is expected to float its shares this year," said Sutiyoso
He said Pembangunan Jaya Ancol was one of the best performing
city administration-owned companies. The governor, however,
refused to detail the financial performance of the company in
past years.
The company manages the Taman Impian Jaya Ancol (Ancol
Dreamland) in North Jakarta and a number of properties in the
area. The company is seeking the council's approval for their
Marina city project in Ancol.
By selling the company's shares, Sutiyoso hopes that the
people could also control the company's management.
"With increased public scrutiny, it would lessen our burden in
overseeing the company," the governor said.
The city administration is currently the majority shareholder
of PT Pembangunan Jaya Ancol. Property tycoon Ciputra owns the
remaining shares.
The company had drawn public criticism following its financing
of several city councillors and officials trips to South Africa,
Japan and Australia.
Three councillors have reportedly been declared suspects in
the scandal after they received a travel allowance of Rp 54
million each, including sponsorship from Pembangunan Jaya Ancol,
although they did not join the comparative study trip.
Deputy Governor for Economy and Finance Fauzie Alvi Yasin
revealed on Friday that the administration had appointed former
president commissioner of Jakarta Stock Exchange Erry Riyana
Hardjapamekas as PT Pembangunan Jaya Ancol's commissioner.
Fauzie said Erry had the experience of leading state-owned tin
mining company PT Timah to go public when he was the company's
president.
"Erry is now preparing the company (Pembangunan Jaya Ancol) to
be a publicly listed company," the deputy governor told reporters
in a discussion on city-owned firms in Cipayung, West Java.
Sutiyoso revealed on Thursday that the city administration
planned to set up five sub-holding companies which would group 29
city-owned companies.
"Companies, which can be improved and which have similar
functions will be merged. Other companies (which have been
performing poorly) in which there is no hope will be liquidated,"
Sutiyoso said.
Fauzie earlier said the five sub-holding companies would be
under a holding company called Jakarta Incorporated which would
be under the city governor's control.
"The sub-holding companies would be handled by professionals,"
he added.
He said the five sub-holding companies would focus on
property, hotel and tourism, trade and distribution, public
utilities and finance. (jun)