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Four state-run firms prepare rights issues
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State-Owned Enterprises Minister Rini Soemarno (Kompas.com/-)
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our publicly listed state-owned enterprises (SOE) have announced rights issues to raise funds for expansion, including from state capital injections allocated in the revised 2016 state budget.
The companies – construction firms PT Pembangunan Perumahan (PT PP) and PT Wijaya Karya, steel maker PT Krakatau Steel and toll road operator PT Jasa Marga – are slated to receive a combined Rp 9 trillion in state capital injections (PMN).
Of the total funds, Wijaya Karya will get Rp 4 trillion, PT PP will get Rp 2.25 trillion, Krakatau Rp 1.5 trillion and Jasa Marga Rp 1.25 trillion.
"We already have the schedule" for the rights issue, SOE Minister Rini Soemarno said after attending a coordination meeting on the matter at the Coordinating Economic Minister's office in Jakarta on Tuesday.
The office’s deputy for restructuring and enterprise, Aloysius K. Ro, said the process was expected to be completed in this year's fourth quarter.
"We will maintain the government's share in the firms," he assured. (est)
