New Investors to Enter PNM
Monday, 12 February, 2007 | 14:07 WIB

TEMPO Interactive, Jakarta: The State-Owned Enterprises (SOEs) Ministry is preparing a scheme to sell shares to new investors (strategic sales) regarding the privatization of PT Permodalan Nasional Madani (PNM) this year.

“The scheme is for new investors to enter the company instead of a public offering at the stock exchange,” said the Secretary of the State (SOE) Minister, Said Didu, in Jakarta last weekend.

According to him, the scheme to be offered will be discussed with the House of Representatives (DPR) in the middle of this month.

The target of divestment to new owners, he said, is around 30 percent.

According to PNM’s Managing Director, Wiwin P. Soedjito, the management needs to analyze the privatization method.

“We only received the information recently, so we need a qualitative analysis for a month or two,” he said after his appointment as managing director at the SOE Ministry, last week.

This year PNM targets credit asset expansion amounting to Rp1 trillion.

Revenue in 2007 is expected to increase by around 20 percent from last year’s achievement of Rp40 billion.

For financing, PNM planned to issue bonds worth Rp300 billion in the first half of this year.

PNM has recently obtained a donor loan from Spain totaling Rp170 billion over a 12 year term.

Yuliawati