State-owned Enterprises (SOE) ministry targets that some holding companies (holdco) establishment will be finished in March of 2019. The unfinished-holdings are infrastructure, insurance, housing, industrial estate, port, defense, pharmacy, cement, and financial sector.
The insurance holding will be established in the first quarter (Q1). The insurance holding acceleration is expected to solve PT Asuransi Jiwasraya’s policy default issue, by restructuring its business.
Meanwhile, financial holding that consists of PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT Bank Negara Indonesia Tbk (BBNI), PT Bank Tabungan Negara Tbk (BBTN), PT Pegadaian, PT Permodalan Nasional Madani, and PT Bahana Pembinaan Usaha Indonesia, to follow in Q2.
No explanation on the other holdco. Toll road operator PT Hutama Karya will lead infrastructure companies and housing developer PT Perumnas in housing sector. Still no cleared information for the leader of industrial estate, port, defense, pharmacy, cement, and financial sector.
So far, goverment has established two holding companies in mining lead by PT Indonesia Asahan Aluminium and Oil & gas holding under energy producer PT Pertamina.
