Minister Wants More State-Owned Companies to Go Public

Jakarta. The government is nudging more state-owned enterprises or SOEs to go public.
At present, there are dozens of SOEs, including the state-run bank BNI and telco giant Telkom, that already have their shares listed at the Indonesia Stock Exchange (IDX). SOE Minister Erick Thohir recently nudged state-run enterprises to hold their initial public offering (IPO).
“It’s true. The more publicly-listed [SOEs], the better,” Erick told the press on the sidelines of the BNIdirect Appreciation Night in Jakarta on Wednesday, as reported by the state news agency Antara.
Erick’s statement came amidst reports of Indonesian mining holding MIND ID and its aluminum smelting subsidiary Inalum possibly getting listed at the IDX. I Gede Nyoman Yetna, the director for listing at IDX, previously said he would soon reach out to the SOE Ministry to discuss the IPO plans. However, Erick said that the IDX had yet to approach his ministry.
“We are still waiting for [the IDX] to contact us,” Erick said.
“But I will give my support [for MIND ID-Inalum’s IPO]. I believe that MIND ID is already starting to consolidate with all of its subsidiaries, and they are [financially] healthy. Their revenue and profit are increasing,” Erick added.
Tags: Keywords:The Latest
‘Why Visit Australia to Learn about Poverty Alleviation?’ Prabowo on Budget Cuts
He said the current austerity efforts are aimed at eliminating non-essential expenditures that offer minimal benefit to the people.Certain Government Expenditures, Such as Maintenance, Cannot Be Slashed
"There's no way we can slash the budget for disaster mitigation efforts," an official said.$3.1 Billion Worth of Free Meals Might Go to Rich Kids: Think-Tank
Celios says that Prabowo should not splurge Rp 306.7 trillion of the money potentially collected from the budget cuts on the free meal plan.Saudi Authorities Free Doctoral Student Initially Sentenced to 34 Years for Tweets, Activists Say
Al-Shehab was detained during a family vacation on Jan. 15, 2021, just days before she planned to return to the United Kingdom.How to Respond to Government Spending Cuts
President Prabowo wants his government to take some cost-cutting measures, but such step can worsen corruption and affect other sectors.Most Popular
