JAKARTA (TheInsiderStories) - Indonesia plans to set up ultra micro holding company (Holding UMi) lead by state lender, PT Bank Rakyat Indonesia Tbk (IDX: BBRI), said finance minister, Sri Mulyani Indrawati in the hearing with parliament on Monday (02/08). To reached the target, the government to combines the bank with PT Pegadaian and PT Permodalan Nasional Madani (PNM).
She explained, the formation of this holding by transferring all Series B shares of PNM and Pegadaian to the largest small and medium enterprises bank in the country to maintain the government ownerships stayed at 56.75 percent. The handling over and payment was carried out in accordance with the Government Regulation Number 72 of 2016 concerning Procedures for State Capital Participation in State Own Enterprises (SOEs).
She explained, the reasoned to form Holding UMi to serve more wider the ultra-micro segment. Since the beginning of this year, SOEs minister, Eric Thohir, has announced to create a number of clusters to streamline the number of the companies under his ministry. The reason, from 142 SOEs, only 15 companies contributed to the government revenues.
“We have to reduce this amount, one option is forming a cluster and other options liquidation and mergers. Later the maximum number of clusters is 15,” he told reporters on Jan. 28.
He said, the ministry wants to cut the number of SOEs, their subsidiaries and affiliates, which is estimated around 800 companies. To implement the plans, now, the ministry prepared five blueprints to balance the economic and social values can be well exposed.
Later on, he continued, there will be a mapping. which is heavy in cooperation, companies with large assets but large public services such as Bank Rakyat Indonesia and power producer PT Perusahaan Listrik Negara. Then large public services such as food supplier company Perum Bulog, and unclear companies.
“Companies that are not clear we will be merged or liquidated. I’m waiting for the president’ and minister’ approval on this plan,” he asserted.
Thohir gave an example, in June, the ministry has finalized hospital cluster under the SOEs. The ministry also considered to creates mining cluster, transportation cluster, hospitality cluster, manufacturing cluster, and others. The ministry now manage Rp8,200 trillion (US$585.71 million) of assets from 140 SOEs.
While, the CEO of Bank Rakyat Indonesia, Sunarso, reported in the first nine months of 2020, the portion of MSME loan portfolios reached 80.65 percent of the total credit of the lender or Rp935.35 trillion. With the direction, the bank is eyeing the portion of MSME financing rise to 85 percent.
US$1: Rp14,000
Written by Editorial Staff, Email: theinsiderstories@gmail.com
