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“A superholding may not be the best option. Look at the performance of Temasek and Khazanah. They’re also having problems in the latest economic conditions. We will try to look out for a new mechanism and study the developments,” Jokowi said on Wednesday.
Jonan went further by saying: “Just ask PLN and the [SOE] minister, who is responsible for the [company]. We are the regulator that oversees and monitors the operator,” in response to Instagram user @lukman.saputra31, one of many replies he posted that day.
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.
State-Owned Enterprises Ministry undersecretary for industrial, agricultural and pharmaceutical affairs Wahyu Kuncoro said Kimia Farma’s move to acquire Phapros was in line with the ministry’s plan to establish a pharmaceutical holding company this year.
Massive infrastructure projects by state-owned enterprises (SOEs) have helped Indonesia improve its logistical performance, although the country still lags behind neighboring countries such as Singapore, Malaysia and Thailand.
Amid slower expansion in the banking industry, State-Owned Enterprises (SOE) Minister Rini Soemarno has pushed SOEs to raise funds from the capital market to oil the country’s ambition for infrastructure, despite Finance Minister Sri Mulyani Indrawati’s warning over state power firm PLN’s excessive debts.
