ID :
15665
Tue, 08/12/2008 - 17:42
Auther :
Shortlink :
https://www.oananews.org//node/15665
The shortlink copeid
RI GOVT ASKS KRAKATAU STEEL TO SPEED UP IPO
Jakarta, Aug 12 (ANTARA) - The government has asked state-owned steel company PT Krakatau Steel (KS) to speed up its Initial Public Offering (IPO) in order not to lose the market momentum, State Enterprises Minister Sofjan Djalil said.
"I have asked KS to hold the IPO soon before prices of strategic commodities fall, although the steel price ia likely to remain good," the minister told the press at a function here on Tuesday.
Sofyan made the statement after the signing of a cooperation agreement between state enterprises and the organizer of a training and eduction project.
State enterprises which consist of workers' insurance company PT Jamsostek and port operator PT Pelindo II would serve as coordinators in the project.
The minister's call is in connection with the downward trend in strategic commodities' prices in the world market which affected a number of regional stocks exchanges, including that in Indonesia.
"I hope this will be a temporary situation only," the minister said.
But when asked what steps the government would take in the face of the situation, the minister did not give details.
"In short, we will make good preparations in the face of the current downward trend in all prices of strategic commodities that is disappointing many shareholders," the minister said.
"I have asked KS to hold the IPO soon before prices of strategic commodities fall, although the steel price ia likely to remain good," the minister told the press at a function here on Tuesday.
Sofyan made the statement after the signing of a cooperation agreement between state enterprises and the organizer of a training and eduction project.
State enterprises which consist of workers' insurance company PT Jamsostek and port operator PT Pelindo II would serve as coordinators in the project.
The minister's call is in connection with the downward trend in strategic commodities' prices in the world market which affected a number of regional stocks exchanges, including that in Indonesia.
"I hope this will be a temporary situation only," the minister said.
But when asked what steps the government would take in the face of the situation, the minister did not give details.
"In short, we will make good preparations in the face of the current downward trend in all prices of strategic commodities that is disappointing many shareholders," the minister said.
