The government through Ministry of State Owned Enterprises (SOEs) will prioritize the privatization of PT Bank Negara Indonesia Tbk (BNI) rather than PT Bank Mandiri Tbk this year.
Minister of SOEs Mustafa Abubakar said BNI needs more fund so the government will focus more on the privatization process of BNI this year.
Meanwhile, as he added, the privatization of PT Bank Mandiri Tbk is expected to realized next year or at least by the end of the year.
“The underwriter for Bank Mandiri could not me published yet. We will focus on BNI first. For Bank Mandiri, we are slower, because BNI needs more [fund]. It does not mean that Bank Mandiri does not need it, but their share price is higher, about IDR13,000 per share,” he said on Monday.
He added that the government has been processing the privatization of four SOEs, i.e. BNI, Bank Mandiri, PT Krakatau Steel, and PT Garuda Indonesia (Persero), with expected privatization fund above IDR20 trillion.
He estimated that BNI requires IDR4 trillion-IDR5trillion, Bank Mandiri needs IDR10 trillion, Garuda Indonesia (Persero) needs IDR5 trillion, and PT Krakatau Steel needs IDR4 trillion-5 trillion.
“The proceed contributed to the government may be around IDR1.3 trillion, from BNI green shoe. The rest will be utilized to develop business for each [SOEs], he said. (t04/wiw)
http://www.bisnis.com/en/corporate/1id201210.html
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