DPRD Chair Opens Options to Exchange PT Delta Beer Shares Owned by the DKI Provincial Government 

JAKARTA - The demand for the DKI Jakarta Provincial Government to divest its stake in PT Delta Djakarta Tbk was reiterated by the PKS Faction of the DKI Jakarta DPRD. PKS encourages the DKI Provincial Government to sell the DKI Provincial Government's stake in the alcoholic beverage producer of 26.25 percent.

In response to this, Deputy Chairman of the DKI Jakarta DPRD Khoirudin stated that the release of shares would not be carried out in a hurry. He emphasized that this step must be through careful consideration so as not to cause legal problems later.

"We will consult. This was a promise from the Governor during the campaign to sell beer shares. Of course we are not hasty because if we take the wrong step it could have legal implications," Khoirudin told reporters, Thursday, January 29.

According to Khoirudin, the DKI DPRD will open a discussion room with experts to ensure that the mechanism for the release of shares is carried out in accordance with legal provisions and does not harm the regional finances.

One of the options that has begun to be discussed is the swap or asset rollover mechanism. In this scheme, DKI Provincial Government shares in PT Delta can be exchanged for assets owned by the central government which have been cooperated with the local government.

"Share assets in beer are exchanged for central government assets that have been collaborated with local governments, for example in JIEP or KBN," he said.

He explained, through this scheme, the ownership of shares in PT Delta could be transferred to a state-owned enterprise, while the DKI Provincial Government obtained other assets as additional capital contributions which were considered more legally secure.

"The shares (later can be) owned by KBN or JIEP and we get assets from there to increase our share participation. It's safer, but this is just a thought track that we will study in more detail so that it is legally safe and does not harm the Jakarta government," he said.

Previously, Member of Commission B of the DKI Jakarta DPRD from the PKS Faction, M. Taufik Zoelkifli, again alluded to the intention of the Governor of DKI Jakarta Pramono Anung who will try to sell the shares of PT Delta Djakarta Tbk owned by the DKI Jakarta Provincial Government of 26.25 percent.

The desire to sell shares of the beer producer was expressed by Pramono during the 2024 DKI Jakarta Regional Election campaign period. However, after one year in office as the Governor of DKI, the discourse has not shown clear progress.

This was stated by Taufik in a working meeting of Commission B of the DKI Jakarta DPRD which summoned PT Delta Djakarta to discuss the evaluation of the company's performance.

"I remind you that the governor, even Governor Pramono, when campaigning in 2024, stated that he would sell PT Delta shares, would take care of the sale. But now, after becoming governor, there has been no voice again. Even at that time he also said it was handed over to the DPRD," said Taufik at the DKI Jakarta DPRD building, Tuesday, January 27.

Taufik also recommended three options to the DKI Provincial Government in responding to the ownership of shares in the alcoholic beverage company. One of them is to sell shares or divest gradually and measured. According to Taufik, this approach gives the DKI Provincial Government room to increase the value of the company before selling its shares.

"So how do we divest but gradually and measured. Ethically, we still show the public that we are concerned about health problems, violence and social problems caused by alcohol," said Taufik.

Another option is to retain shares without any change in share value ownership. However, according to him, the option of holding shares is relatively safe legally, but raises ethical issues and has the potential to trigger a prolonged controversy in the community.

"This is indeed legally safe, but ethically and polemics will continue," he said.

The third option, continued Taufik, is to carry out a total divestment quickly by selling all the shares owned by the DKI Provincial Government. Although it looks morally firm, this step is considered risky economically.

"So it means that whatever happens, it will be sold immediately. Yes, it does look heroic, it's great, but then it's emotional. But the price is not optimal," he said.