SOEs Receive Rp3.6t Capital Injection to Raise 'Business Capacity'

BY :ARIENTHA PRIMANITA

AUGUST 26, 2015

Jakarta. The government is injecting Rp 3.6 trillion ($256 million) of fresh capital into state-owned enterprises Sarana Multi Infrastruktur, Sarana Multigriya Finansial and Geo Dipa Energi, in a move to strengthen their performance.

The cash injection is intended "to strengthen capital and increase the business capacity in infrastructure funding, housing and the development of the Dieng and Patuha geothermal fields," the Cabinet Secretariat said on Wednesday.

President Joko Widodo signed off on the capital injection, which comes from the 2015 state budget. on Aug. 12.

Infrastructure financing firm Sarana Multi Infrastructure will receive Rp 2 trillion, while housing financing firm Sarana Multigriya Finansial is to get Rp 1 trillion. Geothermal company Geo Dipa Energi will receive Rp 607.31 billion.

The move is part of the government's plan to disburse Rp 70.3 trillion in state funds to 39 state-owned enterprises this year.

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