Defense BUMN Holding Soon To Be Formed, PT Len Industri Takes Over Pindad, PT PAL, Dahana, And Dirgantara Indonesia

Illustrations. (Photo: Doc Len Industri)

JAKARTA - The Defense Industry BUMN Holding will soon be formed. With the formation of the holding, PT Len Industri (Persero) will take over all state shares in four state-owned enterprises (BUMN). The news was officially announced by each company's management.

The four companies include PT Pindad (Persero), PT PAL Indonesia (Persero), PT Dahana (Persero), and PT Dirgantara Indonesia (Persero). Len Industri will become the holding company for the Defense Industry BUMN Holding.

In the joint announcement, it was explained that the purpose of the takeover of shares was to support the establishment of a holding. In which, all state-owned series B shares in the four state-owned companies will be transferred to Len Industri.

"Each creditor and party who has a claim against each of the companies mentioned above can submit their objections to the Proposed Acquisition in each of these companies in writing to each company at the address as stated below within 14 calendar days after the date of this announcement," reads the announcement, Tuesday, November 30.

If by the lapse of time, each company does not accept any objection. Thus, the takeover plan is deemed to have been approved.

"Thus this announcement was made and published in order to comply with the provisions of Article 127 paragraph (2) and (8) of Law No. 40 of 2007 concerning Limited Liability Companies as amended by Law No. 11 of 2020 concerning Job Creation," the letter said.

As is known, the consolidation of the establishment of the Defense Industry BUMN Holding continues to be finalized by the BUMN Ministry as the shareholder. The consolidation is not only carried out between SOEs in the defense sector, but also targets the defense industry of other countries.

Previously, SOE Minister Erick Thohir announced the cooperation between PT Pindad (Persero) and Holding Qatar, Barzan. The collaboration between the Qatari BUMN and Pindad is to advance the domestic defense industry.

"Alhamdulillah, in this meeting Barzan expressed his commitment to cooperate with Pindad to advance the Indonesian defense industry. Barzan stated that this cooperation will not only be business, but also include technology transfer and development of Pindad human resources so that they can compete in the global value chain," said Eric.