State enterprises minister to visit ailing paper giant Kertas Leces

State-owned Enterprises (BUMN) Minister Dahlan Iskan has announced plans to visit ailing state paper producer PT Kertas Leces in Probolinggo, East Java, to seek a solution to the company’s financial troubles.

“We will look at the problems one by one. We need to map things out before we can formulate a plan,” Dahlan said Wednesday as quoted by
tempointeraktif.com.

The House of Representatives Commission on State-Owned Enterprises plans to disburse Rp 200 billion (U$ 22.2 million) to PT Kertas Leces next year on the condition that the company presents information on its current managemental and financial conditions to the House.

As the second-oldest paper manufacturer in Indonesia, the company has displayed surprisingly poor performance and failure to generate profits.