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SOEs expects to grab $23b from repatriate funds


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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.

“So we have several schemes. We offer the repatriate funds collected by the investment managers under the SOEs securities house before placed to the financial instrument or projects,” She told reporters after meeting with senior minister for economic office.
Rini said, several projects have been done and ready to offer like toll road Malang – Pandaan in East Java, initial public offering of subsidiaries of SOEs like PT HK Realty own by toll operator PT Hutama Karya and insurance firm PT Tugu Pramata own by the energy firm PT Pertamina also holticulture projects under plantation producer PT Perkebunan Nusantara.
“Pertamina have several big projects such as the expansion of the refinery in Balikpapan, fuel storage terminals in several places that need huge investment. Other company like PT Perusahaan Listrik Negara also looking for investors for the 35,000 megawatts power plant projects,” Rini said.
To reached the targets, She expects Financial Services Agency to simplify the procedure of and related requirements for the programs.


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.


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Source: The Insiderstories
SOEs expects to grab b from repatriate funds

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