JAKARTA - President Director of PT Semen Indonesia (Persero) Tbk (SIG) Donny Arsal said the integration of Semen Baturaja to SIG was a big step to strengthen the position of BUMN sub-cluster cement, in facing competitive market challenges.
Until now, Donny continued, SIG has proven to be able to create value for the synergy of various entities in the group so that it becomes a competitive advantage in competition in the cement industry.
"The Baturaja Semen is a force in Southern Sumatra. Semen Baturaja's integration into GIS has enormous synergy potential to support the position and complement the footprint of SOEs sub-cluster cement, especially in the Sumatra region, which is the second largest domestic market, won the fierce competition and provided the maximum benefit for the community and the state, and strengthened GIS's steps to become the leading building material solutions provider company in the region," Donny said in his statement in Jakarta, quoted from Antara, Tuesday, December 20.
The Indonesian government has officially conducted an inbreng of shares by transferring the State of the Republic of Indonesia to 7.5 billion Series B shares with a total value of IDR 2.85 trillion or representing 75.51 percent of all issued and fully paid capital of Semen Baturaja into GIS shares, as a continuation of the Semen Sub Cluster BUMN Integration Program through the Pre-emptive Rights (HMETD) process.
The share inbreng transaction did not change the portion of Indonesia's state ownership of the controlling shares in GIS. The Republic of Indonesia also still has one Series A Dwiwarna share in Semen Baturaja.
Previously, Deputy Minister of BUMN II Kartika Wirjoatmodjo said the government had completed one of the important milestones of the overall BUMN transformation plan for streaming and clustering of cement sub clusters.
As a strategic sector, the government wants to encourage the BUMN Sub-Cluster Semen as a driver of a sustainable cement industry through optimizing regional, nationally coordinated distribution, marketing and production efficiency.
According to Tiko, his nickname, Indonesia has the most healthy 2023 economic growth projection in the range of 4.5-5 percent, where in the fourth quarter of this year people's purchasing power is running quite fast.
The year 2023 will also be a moment for the realization of the development of the State Capital (IKN) as a catalyst for infrastructure and property, as well as contributing to economic recovery.
He hopes that within two to three years, the cement industry will soon recover through innovation, optimization and efficiency to overcome costs, maintaining the cost structure and consistency of EBITDA.
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