22 Dessember 2007
Govt plans massive privatization in '08 JAKARTA, The Point

The Indonesian government plans to ramp up its privatization efforts in 2008, with several companies planned to be privatized.
Currently the government is planning to privatize several state own firms, such as three state plantation companies (PTPN) III, IV, and VII, as well as several companies that governs industrial zones.

We selected those three state plantation companies due to their better performance compared to other state plantation companies," Minister of Agriculture Anton Apriantono said here on Wednesday.He said that the proceeds of the privatization through the initial public offering (IPO) will be used to develop the companies businesses. Apriantono said that the government is target to sell at most 40% of its states in the three firms to the public Minister of State own Enterprises Sofyan Djalil added, "For the industrial sector we wanted to privatize the industrial zones, such as the Jakarta industry Real Estate, as well as medan, Semarang Makassar, and Surabaya industrial zones."He said the government wanted to divest its states at the industrial zone firms as there may be other parties there are better suited to develop the companies. "We think that perips there are other parties that cod develop it better than we do," jalil explained.

 The government is also proposing to privatize its own steel company, Krakatau Steel next year through IPO or strategic sale, depending on the market condition. "For the trading sector, we also wanted to privatize Sucofindo, through IPO or strategic sale, along with other state construction firms such as Waskita Karya, and Pembangunan Perumahan (PP) through IPO, and don't forget the Adhi Karya rights issue," Djalil added.

Regarding the state banks, he said the government is yet to decide on the privatization strategy. "We will discuss it further. The policy must be comprehensive in regard to the single presence policy and bigger purposes in the financial sectors will be decided on Jan. 4," he promised. (ADW)

Source : The Point, Page : 9 


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