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193036
Tue, 07/05/2011 - 15:48
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https://www.oananews.org//node/193036
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GOVT TO SPEND RP62.28 TRILLION TO HELP STATE FIRMS
News Focus: GOVT TO SPEND RP62.28 TRILLION TO HELP STATE FIRMS
By Andi Abdussalam
Jakarta, July 5 (ANTARA) - In an effort to make state-owned enterprises (SOE) healthier, the government is planning to extend Rp62.26 trillion in bailout funds to 41 state enterprises next year, including the country`s strategic industries.
Chief Economic Minister Hatta Rajasa said that the government and the House of Representatives needed to have a strong commitment to settling problems that hampered SOEs development. The development of strategic and potential SOEs could be carried out through various approaches, such financial assistance and operational approaches.
For this purpose, State-owned Enterprise Minister Mustafa Abubakar, accompanied by Hatta Rajasa, proposed to the House on Monday a government bailout plan worth Rp62.26 trillion for 41 state firms in the 2012 state budget.
The bailout assistance is to be provided in three forms, namely in state capital placement (PMN)worth Rp7.799 trillion, state receivables converted into investment fund accounts/sub-loan agreement (RDI/SLA) valued at Rp8.743 trillion, government assistance (BPYBDS) amounting to Rp54.741 trillion.
Abubakar said that of the bailout amount, a total of Rp7.799 trillion in PMN will be provided through the 2012 state budget, of which Rp2.946 trillion will be given to aircraft maker PT Dirgantara Indonesia, arms producer PT Pindad and National News Agency ANTARA while 4.852 trillion others will be provided through the asset management firm PT Perusahaan Pengelola Aset (PPA) to shipbuilder PT PAL, PT Indusri Kapal Indonesia, PT Dok Koja Bahari, PT Krtas Leces, Balai Pustaka, PPA and Perikanan Nusantara.
The assistance in the RID/SLA scheme worth Rp8.743 trillion is expected to be provided to PT Dirgantara Indonesia, PT Pindad, PT PAL, PT Indusrtri Kapal Indonsia, PT Dok Koja Baahari Indonesia, PT Bahana Pembiayaan Utama Indonesia, PT Pertani, Sang Hyang Seri, Bukopin Syariah, Bahana Artha Ventura, Pabrik Gula Rajawali II.
The biggest portion of the bailout worth Rp45.741 trillion will be allocated in the form of BPYBDS to 24 other SOEs, namely state electricity firm PT PLN, state oil and gas company PT Pertamina, National News Agency LKBN Antara, state-owned PFN, state-owned printing firm PT PNRI, shipping lines Djakarta Lloyd, state-owned land transportation PPD, shipping lines PELNI and state-owned housing firm Perumnas.
Others are Perum Prasarana Perikanan Samudera, Jasa Tirta I, Perum BULOG, PT Angkasa Pura I, PT Angkasa Pura II, Perum Damri, PT Pos Indonesia, PT ASDP, PT Rukindo, PT Pelindo I, PT Pelindo II, Pelindo III dan Pelindo VI, PT Kereta Api Indonesia (KAI), and PT Sarana Karya.
Of the 41 SEOs, the government gave serious attention to three strategic industries, namely, PT Pindad, PT Dirgantara Indonesia (PT DI), PT PAL.
In Monday`s working meeting, the House of Representatives (DPR)`s Commission VI overseeing state companies and the government agreed to revitalize strategic state firms, particularly state-owned aircraft maker PT DI, ship-building firm PT PAL Indonesia and arms producer PT Pindad.
They will be revitalized through the PMN, RDI/SLA and BPYBDS schemes.
PT PAL Indonesia will received a cash of Rp648 billion in PMN through the 211 state budget 2011 and Rp1.379 trillion in 2012, Rp462.9 billion SLA debt conversion scheme, and Rp101.2 billion debt principal and fine conversion.
PT Dirgantara Indonesia will be allocated with a fund of Rp2.38 trillion in PMN in 2011 and noncash loans amounting to Rp1.45 trillion. In the meantime, PT Pindad will get Rp696.7 in PMN in 2012, a reduction of loan interest worth Rp35.4 billion and a BPYBDS conversion valued at Rp214.8 billion.
Mustafa said the state capital placement originated from fresh fund in the state budget, state receivables converted into investment fund accounts/subloan agreement (RDI/SLA) and government assistance.
Hatta Rajasa said that the government decided to revitalize strategic state-owned companies because they have important meaning for the Unitary State of Indonesia, particularly in increasing the nation`s self reliance on defense and security and in driving the development of high-and-innovative technology-based manufacturing industries.
The government and the House on the occasion also agreed to inject Rp561 billion in the form of state capital participation into PT Marpati Nusantara Airlines.
"The government and the House agreed to provide state capital participation for Merpati on condition that it has to pass through a series of restructuring studies by Asset Management Firm an effort to revitalize the state-owned airlines," Commission VI chairman Airlangga Hartarto said.
Merpati president director Sardjono Jhony Tjitrokusumo expressed his thanks to the House and the government for their decision to provide state capital participation for Merpati. "The process is still a long way to go because it still needs approval from the House Budgetary Boday," he said.
He said that most of the state capital participation or some Rp320 billion would be used to revitalize the firm and increase the number of its fleet.
With government bailout of Rp62.28 trillion for 41 SOEs in 2012, it is expected that the state firms would be able to perform better next year.
As of last year, there were 142 state enterprises in Indonesia with combined assets of Rp2,700 trillion. The country`s state enterprises posted an estimated Rp94 trillion profit in 2010.
Non-listed state firms posted a combined profit of Rp84.7 trillion for the year.
By Andi Abdussalam
Jakarta, July 5 (ANTARA) - In an effort to make state-owned enterprises (SOE) healthier, the government is planning to extend Rp62.26 trillion in bailout funds to 41 state enterprises next year, including the country`s strategic industries.
Chief Economic Minister Hatta Rajasa said that the government and the House of Representatives needed to have a strong commitment to settling problems that hampered SOEs development. The development of strategic and potential SOEs could be carried out through various approaches, such financial assistance and operational approaches.
For this purpose, State-owned Enterprise Minister Mustafa Abubakar, accompanied by Hatta Rajasa, proposed to the House on Monday a government bailout plan worth Rp62.26 trillion for 41 state firms in the 2012 state budget.
The bailout assistance is to be provided in three forms, namely in state capital placement (PMN)worth Rp7.799 trillion, state receivables converted into investment fund accounts/sub-loan agreement (RDI/SLA) valued at Rp8.743 trillion, government assistance (BPYBDS) amounting to Rp54.741 trillion.
Abubakar said that of the bailout amount, a total of Rp7.799 trillion in PMN will be provided through the 2012 state budget, of which Rp2.946 trillion will be given to aircraft maker PT Dirgantara Indonesia, arms producer PT Pindad and National News Agency ANTARA while 4.852 trillion others will be provided through the asset management firm PT Perusahaan Pengelola Aset (PPA) to shipbuilder PT PAL, PT Indusri Kapal Indonesia, PT Dok Koja Bahari, PT Krtas Leces, Balai Pustaka, PPA and Perikanan Nusantara.
The assistance in the RID/SLA scheme worth Rp8.743 trillion is expected to be provided to PT Dirgantara Indonesia, PT Pindad, PT PAL, PT Indusrtri Kapal Indonsia, PT Dok Koja Baahari Indonesia, PT Bahana Pembiayaan Utama Indonesia, PT Pertani, Sang Hyang Seri, Bukopin Syariah, Bahana Artha Ventura, Pabrik Gula Rajawali II.
The biggest portion of the bailout worth Rp45.741 trillion will be allocated in the form of BPYBDS to 24 other SOEs, namely state electricity firm PT PLN, state oil and gas company PT Pertamina, National News Agency LKBN Antara, state-owned PFN, state-owned printing firm PT PNRI, shipping lines Djakarta Lloyd, state-owned land transportation PPD, shipping lines PELNI and state-owned housing firm Perumnas.
Others are Perum Prasarana Perikanan Samudera, Jasa Tirta I, Perum BULOG, PT Angkasa Pura I, PT Angkasa Pura II, Perum Damri, PT Pos Indonesia, PT ASDP, PT Rukindo, PT Pelindo I, PT Pelindo II, Pelindo III dan Pelindo VI, PT Kereta Api Indonesia (KAI), and PT Sarana Karya.
Of the 41 SEOs, the government gave serious attention to three strategic industries, namely, PT Pindad, PT Dirgantara Indonesia (PT DI), PT PAL.
In Monday`s working meeting, the House of Representatives (DPR)`s Commission VI overseeing state companies and the government agreed to revitalize strategic state firms, particularly state-owned aircraft maker PT DI, ship-building firm PT PAL Indonesia and arms producer PT Pindad.
They will be revitalized through the PMN, RDI/SLA and BPYBDS schemes.
PT PAL Indonesia will received a cash of Rp648 billion in PMN through the 211 state budget 2011 and Rp1.379 trillion in 2012, Rp462.9 billion SLA debt conversion scheme, and Rp101.2 billion debt principal and fine conversion.
PT Dirgantara Indonesia will be allocated with a fund of Rp2.38 trillion in PMN in 2011 and noncash loans amounting to Rp1.45 trillion. In the meantime, PT Pindad will get Rp696.7 in PMN in 2012, a reduction of loan interest worth Rp35.4 billion and a BPYBDS conversion valued at Rp214.8 billion.
Mustafa said the state capital placement originated from fresh fund in the state budget, state receivables converted into investment fund accounts/subloan agreement (RDI/SLA) and government assistance.
Hatta Rajasa said that the government decided to revitalize strategic state-owned companies because they have important meaning for the Unitary State of Indonesia, particularly in increasing the nation`s self reliance on defense and security and in driving the development of high-and-innovative technology-based manufacturing industries.
The government and the House on the occasion also agreed to inject Rp561 billion in the form of state capital participation into PT Marpati Nusantara Airlines.
"The government and the House agreed to provide state capital participation for Merpati on condition that it has to pass through a series of restructuring studies by Asset Management Firm an effort to revitalize the state-owned airlines," Commission VI chairman Airlangga Hartarto said.
Merpati president director Sardjono Jhony Tjitrokusumo expressed his thanks to the House and the government for their decision to provide state capital participation for Merpati. "The process is still a long way to go because it still needs approval from the House Budgetary Boday," he said.
He said that most of the state capital participation or some Rp320 billion would be used to revitalize the firm and increase the number of its fleet.
With government bailout of Rp62.28 trillion for 41 SOEs in 2012, it is expected that the state firms would be able to perform better next year.
As of last year, there were 142 state enterprises in Indonesia with combined assets of Rp2,700 trillion. The country`s state enterprises posted an estimated Rp94 trillion profit in 2010.
Non-listed state firms posted a combined profit of Rp84.7 trillion for the year.
