"Hopefully, the merger of ANTARA, Balai Pustaka and PNRI would be completed later this year," Dahlan said.Jakarta (ANTARA News) - State Enterprises Minister Dahlan Iskan has given the green light to state news agency Perum LKBN Antara to acquire state publisher PT Balai Pustaka and state printing firm Perum Percetakan Negara Republik Indonesia (PNRI).
"Hopefully, the merger of ANTARA, Balai Pustaka and PNRI would be completed later this year," he said after a leadership meeting at the Perum ANTARA`s office here on Tuesday.
Given the acquisition, ANTARA is expected to have its own business unit and therefore, its dependence on public service obligation (PSO) fund could be reduced and even eliminated, he said.
"We hope ANTARA and other state-owned companies which have so far carried out PSO functions will no longer rely on PSO funds. They must make new business breakthroughs," he said.
Dahlan said through the acquisition ANTARA will acquire heritage and non-heritage assets from Balai Pustaka, a move that will enable it to withstand the ever increasingly competitive market.
Before the acquisition is realized, Balai Pustaka will first sell its assets to cover its deficit, he said.
By acquiring PNRI, ANTARA will receive financial support from the state printing firm`s commercial business, he said.
"When the state economy is getting more advanced, marked by the rise of private firms, PNRI is no longer considered strategic because its function can be taken over by the private sector," he said.
After all, PNRI still has good financial condition, he said.
"PNRI has good business. But it will grow further if it receives support from ANTARA," he said.
To facilitate the acquisition of PNRI, ANTARA will appoint any of its directors to become PNRI president director, he said.
"The appointment of an ANTARA director to the post of PNRI president director is designed to ensure the smooth merger of the two companies," he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
