Deputy Minister Of SOEs Targets ID FOOD Restructuring To Be Completed In 9 Months

Deputy Minister of SOEs Kartika Wirjoatmodjo. (Photo: Doc. ANTARA)

JAKARTA - The Ministry of SOEs targets the structure of the Food SOE Holding ID FOOD to be completed within nine months.

This means that the restructuring must be completed before the new government changes.

This was conveyed by Deputy Minister of BUMN Kartika Wirjoatmodjo in the 2nd Anniversary of ID FOOD, at Waskita Rajawali Tower, Jakarta, Monday, January 8.

"This (restructuring) must be in my hands. So there is no choice, I don't want this to go wrong in these 9 months. So I don't want to leave the problem for the next period," he said.

Initially, Tiko, Kartika Wirjoatmodjo's nickname, said that when he was appointed to deal with the condition of the company PT Rajawali Nusantara Indonesia (RNI) or ID FOOD, the first thing that was done was to fix the company's finances.

"In the ID FOOD context, of course, this is not an easy thing because first we know that we have to improve the financial condition immediately. Without a significant improvement in financial conditions, of course, to be contributive both to shareholders and to stakeholders will be a big challenge," he said.

Then, Tiko, Kartika's nickname, said that initially RNI had 11 subsidiaries. Then consolidation was carried out, until the ID FOOD Food BUMN Holding was formed with five SOEs who were members of the holding.

Tiko said that after fixing the financial condition, what will be done is to transform the business model. The goal is that SOE Holding ID FOOD members have their own focus.

"So not only is the finances transformed but also business models and organizations transformed because of the duplication of functions, we must also tidy up the focus. Which ones are on farm, which ones are off farm, which ones are logistics, which ones are trading, which products are, which ones are assigned, which ones are commercial," he said.

"If this is not explained, it will be like a complicated thread because each of them has attacked everything," he continued.

Therefore, Tiko also questioned why the ID FOOD transformation assignment was given at the end of 2023 when the leadership period of Erick Thohir as Minister of SOEs was almost complete. Even so, Tiko admitted that he would finish it.

"Why is it only now, why isn't it finished in 2019? I'm cleaning up Garuda, Jiwasraya from 2019, why isn't this (ID FOOD) why is it only 2023 that I want 2024 to start. I'm also a little confused about why it's serious now that I'm finishing my finances. So we have to finish this in 2024 before the change of government," he explained.

Regarding how the business model transformation scheme will be carried out, Tiko said it would not be the same as it is today. For example, said Tiko, such as the restructuring carried out by PTPN.

"So later, I apologize, friends, the President Director in BUMN who is now in BUMN ID FOOD, I will transform as well as the business model, not necessarily the same authority as before," he said.

"Because for example, yesterday's PTPN was changed to a total where we changed the authority of PTPN 1 to 14. And finally three new subholdings emerged where Sugarco, Palmco and Supportingco appeared," he said.