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SOEs super holding establishment still a long way to go
During the last presidential debate on April 13, incumbent President Joko “Jokowi” Widodo said he planned to establish a super holding company that would act as the ultimate parent company for all existing and upcoming holding companies in various sectors.
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Inalum president director Budi Gunadi Sadikin speaks to the press at his office in South Jakarta. (JP/Damar Harsanto)
T
he establishment a super holding company for state-owned enterprises (SOEs) would boost efficiency and professionalism in their day-to-day activities, yet its realization has a long way to go, says an economic expert.
During the last presidential debate on April 13, incumbent President Joko “Jokowi” Widodo said he planned to establish a super holding company that would act as the ultimate parent company for all existing and upcoming holding companies in various sectors.
The government has established several holding companies, each of which consist of SOEs from the same industries.
Those holding companies are PT Pupuk Indonesia, which comprises state fertilizer companies; PT Indonesia Asahan Aluminium (Inalum), which manages state mining companies; PT Pertamina, the holding company in charge of oil and gas, and a plantation holding company led by PT Perkebunan Nusantara (PTPN III).
The government is working to establish other holding companies for infrastructure and construction industries, housing and industrial development industries as well as for aviation industries.
State-Owned Enterprises Minister Rini Soemarno said the creation of the super holding company would hopefully make the management of all state-owned companies become less bureaucratic as all companies would be managed professionally by the super holding.
Later, she continued, the super holding company would resemble that of Singapore’s Temasek or Malaysia’s Khazanah.
