Pertamina Calls VAT Mergers, PIS And Pertamina International Refineries To Strengthen Financial Performance

Illustration: Photo: Doc. Pertamina

JAKARTA - PT Pertamina (Persero) is preparing a merger process for its three subsidiaries, Pertamina Patra Niaga, Pertamina International Shipping and Pertamina International Refinery.

Pertamina's Director of Business Transformation and Sustainability Agung Wicaksono said that the merger of the three subsidiaries was actually a mandate from the shareholders, the Anagata Nusantara Power Investment Management Agency (BPI Danantara).

"Regarding the study, it has been prepared for a long time. Now it is in the planning process for its implementation, a study for its implementation is technically the merger," he told the media crew in Jakarta.

Agung explained that currently there is a technical team formed for the transformation process of this business merger. Pertamina targets the merger of these three entities to be carried out by the end of 2025.

Agung further explained that the merger of VAT, PIS and KPI was carried out so that oil governance improvements would be more efficient for the community.

"So if we want to make improvements, strengthen services to the community, then these three have the most roles. Together they will unite, become Pertamina, one serving downstream, Pertamina downstream will be able to strengthen services to the community. That is the most basic thing at the forefront," he explained.

Terakhir, dari sisi finansial, Agung menilai penggabungan ketiga anak usaha ini dapat memperkuat aspek keuangan perusahaan di tengah ketidakpastian.

Apalagi, lanjut dia, saat ini performa keuang kilang masih tertekan.

"Kilang itu performance-nya makin tertekan. Dan dengan penggabungan ini, akan bisa memperkuat sehingga kinerja finansial juga tertolong," tandas dia.

Finally, from a financial perspective, Agung assessed that the merger of these three subsidiaries could strengthen the company's financial aspects amid uncertainty.

Moreover, he continued, currently the performance of refinery finances is still under pressure.

"The performance of the refinery is getting depressed. And with this merger, it will be able to strengthen so that financial performance can also be helped," he said.