Ultra Micro Holding Will Soon To Form, Government Officially Transfers Pegadaian And PNM Shares To BRI

Illustrations (VOI)

JAKARTA - The process of forming the Ultra Micro Holding is entering the final stage. This was marked by the signing of the transfer of state shares to PT Pegadaian (Persero) and PT Permodalan Nasional Madani (Persero) or PNM to PT Bank BRI (Persero) Tbk today, Monday, September 13.

SOE Minister Erick Thohir said that the integration between Pegadaian, PNM, and BRI in one business ecosystem would provide financing to micro, small and medium enterprises (MSMEs). This step was taken with the hope that the performance of micro-enterprises would recover from the pressures of the COVID-19 pandemic.

"With this unification, we want MSMEs to be approximately 30 percent of capital in Indonesia. We can see significant changes in the COVID-19 crisis affected by MSMEs and ultra-micro. The impact is extraordinary", he said at the signing of the share transfer, Monday, September 13.

The value of the transfer of state shares to BRI is IDR 54.7 trillion. This is based on Government Regulation (PP) Number 73 of 2021 concerning the Addition of State Equity Participation (PMN) into the Share Capital of the Company (Persero) PT Bank Rakyat Indonesia Tbk. Determination of the addition of PMN to BRI itself to increase the company's share capital.

Furthermore, Erick said that during the COVID-19 pandemic, all parties must ensure that economic balance occurs. He also reminded SOEs to embrace MSME actors.

"We make sure that with this COVID-19, an economic balance must occur, it can't be bigger and bigger and smaller is smaller, we can't just profit SOEs, MSMEs go bankrupt. This balance is the main thing for ultra micro holdings", he said.

On the same occasion, the Head of the Ultra Micro Ecosystem Integration Project Management Officer (PMO), Catur Budi Harto said that the formation of Ultra Micro Holding had gone through a long process. Starting from approval from shareholders to licensing is done to the House of Representatives (DPR) and financial authorities (OJK).

"The process of forming the Ultra Micro Holding has entered the final stage marked by the signing. From July 2020 to September 2021 the formation of the Ultra Micro Holding has gone through various processes", he said.

Various processes include approval from the privatization committee on February 17, 2021, in consultation with the Indonesian House of Representatives on 18 March 2021. Then, the approval of BRI shareholders at the Extraordinary General Meeting of Shareholders (EGMS) on 22 July 2021.

Then, the approval from the Financial Services Authority (OJK) on August 27, 202 until, the effective statement from the OJK for the capital market on August 30, 2021.

The government has also issued PP No. 73 2021 regarding the addition of State Capital Management into BRI's Share Capital, as well as the Minister of Finance's decision on July 16, 2021, regarding the determination of the additional PMN value to BRI's share capital.