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Six SOEs combine to form staple food holding
The deal comes one quarter later and three companies fewer than originally planned.
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Preplant prep: Farmers use tractors to till paddy fields on Sept. 4, 2020 in Belanti village of Pujang Pisau regency, Central Kalimantan. The government has designated the regency as the site of a "food estate" to develop food sovereignty. (Antara/Makna Zaezar)
T
he government has established a state-owned staple food holding company by integrating five companies into PT Rajawali Nusantara Indonesia (RNI).
RNI signed on Jan. 7 an agreement with state-owned logistics company PT Perusahaan Perdagangan Indonesia, agribusiness company PT Sang Hyang Seri, fishery company PT Perikanan Indonesia, poultry company PT Berdikari and salt manufacturer PT Garam to form the holding company, said the diversified food manufacturer in a statement issued the same day.
RNI’s establishment follows the issuance of Government Regulation No. 118/2021 on state capital injection to RNI and its implementing regulation, Finance Minister Decree No. 555/2021, though its formation comes around three months later than expected.
Read also: State-owned staple food holding company to be formed by September
“[RNI] is expected to strengthen the food sector in general by combining the [five companies’] strengths through strategic efforts, from increasing production capacity to expanding market access and the food distribution network,” said Deputy State-Owned Enterprises (SOEs) Minister Pahala Mansury.
“The holding company can also optimize potential assets, rely on the supply chain and apply business digitalization and technology,” he added.
The establishment of the latest state-owned holding company is part of the government’s efforts to restructure SOEs, which now total 41 entities from more than 100 SOEs in 2019.
