JAKARTA - Commission XI of the House of Representatives (DPR) approved the privatization of PT Semen Kupang (Persero) through the sale of state-owned shares of 61.48 percent directly to investors.
"We agree with this," said Deputy Chairman of Commission XI of the DPR, Dolfie Othniel Frederic Pelit in a Hearing Meeting with the Director General of State Assets of the Ministry of Finance (Kemenkeu) quoted by Antara, Thursday, September 15.
The Director General of State Assets of the Ministry of Finance Rionald Silaban explained that the company's privatization was carried out to open opportunities so that as a corporation, PT Semen Kupang could be increased in value and later there would be corporate action so that the company could operate again after it stopped operating independently since 2008.
However, the operation was carried out through operational cooperation (KSO) with PT Sarana Agra Gemilang (SAG) from 2009 to 2021.
"We hope that if PT Semen Kupang can operate, then the company can realize improved performance and can provide cement for the local community because the natural resources in Kupang, East Nusa Tenggara (NTT) are quite abundant," said Rionald on the same occasion.
At the same time, he continued, the government was able to recover the proceeds from the divestment in PT Semen Kupang.
The privatization method will be carried out through the sale of state-owned shares to investors and funds deposited with the state.
President Director of PT Semen Kupang Ery Susanto added, apart from the government, the company's share portion is owned by PT Bank Mandiri (Persero) Tbk at 37.39 percent and the NTT Provincial Government (Pemprov) at 1.12 percent.
Thus, the NTT Provincial Government is one of the potential investors in this privatization process. Not only that, but the assessment has also been carried out with several other investors, namely GAMA Corp, PT Semen Indonesia Tbk, PT Conch Cement Indonesia, and PT Indocement Tunggal Prakarsa Tbk.
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