Erick Thohir Takes Examples Of Krakatau Steel And PTPN Who Have Been 'Healthy', Waskita Karya OTW Heals Finances

Minister of SOEs, Erick Thohir. (Photo: Doc. Ministry of SOEs)

JAKARTA - SOE Minister Erick Thohir said that total transformation of all SOEs is a must in dealing with post-COVID-19 conditions.

"The total transformation that must be carried out in all SOEs is a must, especially in the face of post-COVID-19 conditions everything will change. Therefore, it is not only business model restructuring but also must be accompanied by efficiency and no less important is business innovation as well as the transformation of human capital, " said Erick Thohir in an official statement, quoted from Antara, Friday, July 16.

The Minister of SOEs said that there is no surrender, the sick can be cured as long as there is a will and of course mutual cooperation in solving common problems.

"We can see several SOEs whose health has also begun to appear after restructuring, such as Krakatau Steel and PTPN. Yesterday I checked Krakatau Steel. Thank God the net income is good now. Then I also went to Medan to check that PTPN has good cashflow and continues make breakthroughs but according to the agreed roadmap," said Erick Thohir.

Previously, SOE Minister Erick Thohir appreciated the agreement between Waskita Karya and five creditors regarding debt restructuring of Rp. 19.3 trillion.

Erick advised that the 65 percent restructuring is a trust that should not be wasted. Although there is still another 35 percent that needs to be fought for, this is a catalyst to accelerate Waskita Karya's recovery both financially and business. Also to increase the confidence and optimism of other creditors and partners

Waskita Karya's financial condition recovery efforts are now entering a new phase after five creditors, Bank Negara Indonesia (BNI), Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Syariah Indonesia (BSI), and the West Java Regional Development Bank (BJB), agreed on restructuring loans worth IDR 19.3 trillion. This value is equivalent to 65 percent of the total loan of Rp. 29.26 trillion from all of the company's creditors.