JAKARTA - The Ministry of SOEs supports the plan of Holding PT Perkebunan Nusantara (PTPN) to conduct an initial public offering (IPO) for PalmCo's subholding of palm oil in 2023 so that SOEs can participate in determining the price of cooking oil in 2026.
"We are currently making palm oil subholding PalmCo. Later to develop this we want to expand the factory and so on," said Special Staff to the Minister of SOEs, Arya Sinulingga, quoted by Antara, Tuesday, August 23.
He added, the Ministry of SOEs wants by 2026 the majority of cooking oil can be supplied by SOEs.
Thus, the price of cooking oil can later be controlled by SOEs.
"It hasn't happened yet, but in this way the expansion will be faster, and PalmCo will have a factory for processing it," said Arya.
In 2026, the majority of cooking oil will be controlled by BUMN. and SOEs also play a role in determining prices.
Previously, Holding PT Perkebunan Nusantara (PTPN) planned to conduct an initial public offering (IPO) of PalmCo's palm oil subholding next year after the process of establishing the subholding was completed this year.
President Director of PTPN III (Persero) as the holding parent of PTPN Mohammad Abdul said the process is now underway in which the establishment of the PalmCo subholding will be completed no later than October this year, considering that the formation of the subholding requires government regulations," said Ghani at a BUMN Coffee event in Jakarta, Monday. .
This subholding, said Ghani, has become a national strategic project so that the government always monitors it.
Thus, the PalmCo IPO preparation process is expected to be carried out in the second or third quarter of 2023.
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