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Govt to establish three holding companies this year
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An office of state-owned insurance company PT Asuransi Jiwasraya in Jakarta. (kontan.co.id/Cheppy A Muchlis)
T
he State-Owned Enterprises (SOE) Ministry plans to establish three holding companies this year as part of the government’s efforts to strengthen and improve the efficiency of state-owned firms.
An official at the ministry confirmed that the three holding companies would operate in the financial services, insurance and aviation industries.
The financial services holding company was planned to be established in the first half of this year, according to Gatot Trihargo, an undersecretary at the ministry in charge of financial, survey and consultancy services.
The financial services holding company would include four state lenders, namely Bank Mandiri, BNI, BRI and BTN, as well as other non-banking state firms such as public pawnshop PT Pegadaian, financial services firm Bahana and switch operator company PT Jalin Pembayaran Nusantara, he explained.
These state-owned companies would become subsidiaries of state-owned financial services firm PT Danareksa, which was chosen by the ministry to be the holding company.
Gatot also said the holding company would also include fintech firm PT Fintek Karya Nusantara, the operator of payment system LinkAja.
However, before the holding company could be established, Gatot said the ministry would redesign several aspects of the financial services holding concept after receiving input from the Financial System Stability Committee (KSSK), the Financial Services Authority (OJK) and Bank Indonesia (BI).
