Since PT Semen Baturaja Tbk (SMBR) went public in 2013, there is still no State-Owned Enterprises (SOE) conducting IPO. Regardless, the plan for SOEs to perform IPO now is arising again, after the President Joko Widodo asked the SOE Ministry to push SOEs for IPO. Companies could then be more transparent in managing finance, expanding business and assist in the strengthening of domestic capital market.
However, a member of Commission VI of the House of Representatives (DPR) Gde Sumarjaya Linggih deemed once IPO has been conducted, SOEs will instead focus more on performing corporate actions.
“I worry about what the main purpose of the 10 priorities of the SOEs are and if they can be executed later on, as SOEs even perform corporate actions,” Gde said.
On the other hand, State-Owned Enterprises tend to have less corporate actions throughout 2015 other than dividend payout. For instance, out of 20 SOEs listed in the Indonesia Stock Exchange (IDX), only three executed rights issue, including PT Aneka Tambang Tbk (ANTM) worth Rp 5.4 trillion, PT Adhi Karya Tbk (ADHI) worth Rp 2.71 trillion as well as PT Waskita Karya Tbk (WSKT) amounting to Rp 5.3 trillion. (*)
Add Comment