ID :
40302
Mon, 01/12/2009 - 22:28
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Shortlink :
https://www.oananews.org//node/40302
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TEN STATE FIRMS TO UNDERGO RESTRUCTURING: MINSTER
Jakarta, Jan 12 (ANTARA) - State Enterprises Minister Sofyan Djalil said his office had proposed 10 state-owned companies for financial restructuring by the Asset Management Company (PT PPA) because they were in financial trouble.
"Ten state companies will be restructured by PT PPA in order to improve their financial status," Djalil said here on Monday.
The minister said the 10 state companies included PT Merpati Nusantara Airline (MNA), ship-building company PT Pal Indonesia, glassware maker PT Industry Gelas, shipping company PT Djakarta Lloyd, PT Hotel Indonesia Natour, cement maker PT Semen Kupang and paper maker PT Kertas Kraft Aceh.
The minister made the statement during a function marking the presentation of 30 ambulance cars by PT Askes to 30 general hospitals from across the country.
Djalil said the 10 state-owned companies would undergo the financial restructuring after passing through due diligences and assessments.
"The results of the assessments and due diligences on the 10 state companies by PT PPA are to be reported to the state enterprises minister who will then propose their restructuring to the finance minister," Djalil said.
He said a decision whether or not a state company would be handed to PT PPA for restructuring would be made by the finance minister. "The finance minister will decide through a ministerial decree whether the company concerned is to be restructured or to be liquidated," he added.
On some of the 10 companies, such as PT MNA, the finance minister had already issued restructuring decrees but others were still waiting for such a finance minister's decree, he said.
The amount of funds for the state firms' restructuring would depend on their respective conditions or on how much they would need to continue their business operations.
He said for 2008, the government had disbursed Rp1.5 trillion as working capital for PT PPA and it would be increased further by another Rp1 trillion from the state budget.
"Ten state companies will be restructured by PT PPA in order to improve their financial status," Djalil said here on Monday.
The minister said the 10 state companies included PT Merpati Nusantara Airline (MNA), ship-building company PT Pal Indonesia, glassware maker PT Industry Gelas, shipping company PT Djakarta Lloyd, PT Hotel Indonesia Natour, cement maker PT Semen Kupang and paper maker PT Kertas Kraft Aceh.
The minister made the statement during a function marking the presentation of 30 ambulance cars by PT Askes to 30 general hospitals from across the country.
Djalil said the 10 state-owned companies would undergo the financial restructuring after passing through due diligences and assessments.
"The results of the assessments and due diligences on the 10 state companies by PT PPA are to be reported to the state enterprises minister who will then propose their restructuring to the finance minister," Djalil said.
He said a decision whether or not a state company would be handed to PT PPA for restructuring would be made by the finance minister. "The finance minister will decide through a ministerial decree whether the company concerned is to be restructured or to be liquidated," he added.
On some of the 10 companies, such as PT MNA, the finance minister had already issued restructuring decrees but others were still waiting for such a finance minister's decree, he said.
The amount of funds for the state firms' restructuring would depend on their respective conditions or on how much they would need to continue their business operations.
He said for 2008, the government had disbursed Rp1.5 trillion as working capital for PT PPA and it would be increased further by another Rp1 trillion from the state budget.
