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Jakarta Post

Minister's restructuring plan aims to make SOEs profitable, competitive

  • Riska Rahman

    The Jakarta Post

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Jakarta   /   Tue, December 3, 2019   /  03:21 pm
The Jakarta Post Image
State-Owned Enterprises (SOEs) Minister Erick Thohir (left, first row facing camera) attends a hearing on Monday with House of Representatives Commission VI in Jakarta. Accompanying the minister are SOEs Deputy Minister Kartika “Tiko” Wirjoatmodjo (center, first row) and ministerial spokesman Arya Sinulingga.(Antara/Galih Pradipta)

State-Owned Enterprises (SOEs) Minister Erick Thohir announced his plans to overhaul the country’s SOEs at a House of Representatives hearing on Monday that included several new initiatives but excluded his predecessor’s plan to establish a “super" SOEs holding company. At the hearing with House Commission VI overseeing SOEs, trade, investment, industry, cooperatives and small-and-medium enterprises (SMEs), Erick said that he was dropping former minister Rini Soemarno’s plan to create a super SOEs holding company and instead establish subholding companies that would oversee SOEs in the same business sector. The minister said that he would also continue debt restructuring as part of his SOEs reform plans, including restructuring the debts of PT Krakatau Steel. He also planned to improve the role of S...