SOEs expects to grab $23b from repatriate funds
JAKARTA (TheInsiderStories) – State-owned enterprises (SOEs) expect to grab Rp300 trillion (US$22.90 billion) from repatriate fund by offer financial instrument and projects, said senior official on Wednesday.
SOEs banks PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Bank Rakyat Indonesia Tbk (IDX: BBRI) and PT Bank Tabungan Negara Tbk (IDX: BBTN) has picked as a designated bank for the repatriate funds. Also asset management company under PT Mandiri Sekuritas, PT Bahana Securities, PT Danareksa Sekuritas and PT BNI Securities
The minister Rini Soemarno explained, around 25 SOEs ready to offer various products like deposits, ownerships in the projects and stock, global and domestic bonds , asset back to securities, limited mutual funds and other instrument.
Previously, President Joko Widodo sad government is preparing several SOEs to go public and ready to enter bond markets to raises advantage from capital inflows from repatriate funds.
Some SOEs has expressed their interest to issue bonds namely PT Waskita Karya Tbk (IDX: WSKT) plans to issue bonds worth Rp 5 trillio, PT PP Tbk (IDX: PTPP) Rp2 trillion, PT Jasa Marga Tbk (IDX: JSMR) Rp3 trillion, BBRI up to Rp20 trillion in two stages, BMRI Rp10 trillion and BBTN Rp3 trillion.
According to the government’s figures, SOE total assets amounted to Rp 440 trillion (US$33.7 billion), which could be maximized by listing on the stock market. “We believe the IPOs can be effectively staged this year,” he said.
Source: The Insiderstories
SOEs expects to grab b from repatriate funds