State asset management firm injects Rp 1.94t into eight SOEs
The Jakarta Post
State-owned asset management firm PT Perusahaan Pengelola Aset (PPA) has injected some Rp 1.94 trillion (US$143.48 million) into eight state-owned companies (SOEs) up until September, to assist the companies’ restructuring programs.
“The Rp 1.94 trillion bailout fund for the eight companies is an accumulation of the funds disbursed as the companies entered the PPA restructuring program,” PPA’s general manager Dikdik Permadi said during an event in Jakarta on Thursday as reported by Antara.
The companies that received the funds were PT Dirgantara Indonesia (Rp 605 billion), PT Merpati Nusantara Airlines (Rp 604.2 billion), PT Pal Indonesia (Rp 225.8 billion), PT Kertas Kraft Aceh (Rp 277.4 billion), PT Industri Gelas (Rp 122.8 billion), PT Industri Kapal Indonesia (Rp32.1 billion), PT Kertas Kraft Aceh (Rp 50 million) and PT Survey Udara Penas (Rp 22.5 million).
Dikdik stressed that the companies are required to repay the bailout fund if they recovered. He said PPA still had Rp 500 billion of funds that could be used for bailouts in 2018.
Meanwhile, another PPA general manager, Ardian Pratama, said the government had injected Rp 3.25 trillion into PPA. “The fund was injected three times with sums of Rp 1 trillion, Rp 1.5 trillion and Rp 750 billion,” he added. (bbn)
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