Energy SOE holding ready to be established: Minister

Energy SOE holding ready to be established: Minister

Darmin Nasution. (ANTARA FOTO/Widodo S. Jusuf)

We are expecting six SOE holding companies."
Jakarta (ANTARA News) - Indonesias Economic Coordinating Minister Darmin Nasution said state-owned enterprises (SOE)in the energy sector are the most ready to become holding companies as compared to those in other sectors.

The other sectors, namely foods, logistics, finance, mining and infrastructure, are also to have their own SOE holding companies.

"We are expecting six SOE holding companies. However, only the energy sector is ready for it," the minister added here on Monday.

He said all SOE holding companies do not need to be set up at the same time as that will take too long.

According to Darmin, the establishment of SOE holding companies will have a legal protection under the Government Regulation Number 44/ 2005 on Procedures for Capital Investments and State Administration of State-Owned Enterprises and Company Limited.

The regulation will serve as a legal reference for each SOE holding firm.

Meanwhile, SOE Minister Rini Soemarno assured that the SOE holding company in the energy sector, that wll see the merger of State Gas Company and the Oil and Gas Company (Pertamina), will be established soon.

This will happen by the end of 2016.

The Government Regulation will be revised and, within ten days, it is expected to be completed in order to speed up the holding establishment.

The establishment of the SOE holding firms will not be beneficial just for the mother company, but also for the state-owned enterprises that will come under the holding entities.