PKS Proposes to Sell PT Delta's Shares, Alluding to Pramono's Intent During the Pilkada

The working meeting of Commission B of the DKI Jakarta DPRD which summoned PT Delta Djakarta to discuss the evaluation of the company's performance, January 27. (Diah-VOI)

JAKARTA - Member of Commission B of the DKI Jakarta DPRD from the PKS Faction, M. Taufik Zoelkifli, again touched on 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.

"This is what I think is the middle. So how do we divest but gradually and measured. So 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.

Taufik added that the proceeds from the sale of shares can be transferred to sectors that are considered more relevant to public interests, such as health, education, and food, or injected into other BUMD that have a stronger public service function.

In his report to the DKI DPRD, Sales Director of PT Delta Djakarta Ronny Titiheruw admitted that the sale of beer products had experienced a downward trend in recent years. This resulted in declining revenue and dividend distribution to shareholders being reduced.

The DKI Provincial Government has a share of 26.25 percent of the beer producer with the brands Anker, Carlsberg, to San Miguel. Meanwhile, the majority of shares are owned by San Miguel Malaysia with 58.33 percent, and the public with 15.42 percent.

Ronny explained that one of the factors that resulted in a decrease in beer sales revenue was the shift in the preferences of young people or the productive age from previously consuming alcoholic beverages in pubs or bars to consuming coffee in cafes.

"Coffee is now still a very trendy drink and many beer drinkers, especially among young people. Millennials or Gen Z now prefer to hang out, drink non-alcoholic drinks, coffee, and this also causes a decrease in consumption," said Ronny.

In addition, many residents and business actors in the area have begun to switch to consuming or selling local wine produced by small industries. This is because the drink is sold at a cheaper price than the manufacturer's beer.

Then, another factor that causes PT Delta's profit decrease is the increase in fuel prices, inflation, and the increase in taxes on alcoholic beverages in the new government policy since the beginning of 2024.

"This combination of factors has led to a significant increase in prices, which has led to a decline, not only PT Delta but arguably the alcohol industry including the beer industry has contracted. The decline is approximately 5 to 6 percent if I'm not mistaken," he explained.

It is known that in the financial statements for 2024, PT Delta Djakarta had a net profit of IDR 142.3 billion. This beer producer deposited dividends of IDR 137.7 billion and the DKI Provincial Government received IDR 36.15 billion.

This figure is lower than the dividend value in 2023 which was deposited to the DKI Provincial Government with a figure of Rp. 59 billion, as well as the dividend in 2022 of Rp. 68.3 billion.