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Regulations 1 year ago
PREMIUM
Govt mulls merging Pertamina subsidiaries after fuel import scandal
The SOEs minister has vowed to reform Pertamina, including by possibly merging PT Pertamina Patra Niaga and PT Kilang Pertamina Internasional, two of at least three subsidiaries currently embroiled in a fraud and corruption probe by the AGO related to fuel imports in 2018-2023.
Companies 1 year ago
PREMIUM
Vendors of bankrupt SOE Istaka Karya demand Rp 786b in unpaid dues
An association named the "victims of SOE Istaya Karya" has urged lawmakers to fulfill the bankrupt construction firm's financial obligations to vendors, some of which have been waiting more than a decade to be paid.
Regulations 1 year ago
PREMIUM
Prabowo to fund $20 billion Danantara with budget cuts, SOE dividends
The fund’s immediate priority would be kickstarting 15 multibillion-dollar megaprojects without tapping external financing, according to the President, such as renewable energy, advanced manufacturing, downstream industries and food production.
Regulations 1 year ago
PREMIUM
Danantara to position itself as more domestic-focused wealth fund, head says
While the fund will still consider investments in foreign assets, Muliaman emphasized that its primary focus will be on financing local development and government projects, and foreign investors can provide funding alongside Danantara.
Regulations 1 year ago
PREMIUM
Govt ‘must not overlook’ public service tasks amid SOE shakeup
Analysts question how a new sovereign wealth fund will address the public service obligations (PSOs) of certain SOEs included in its portfolio, given that these firms are often instructed by the government to sell products below market prices or take on unprofitable projects.
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