Jakarta: Difficulty state cement producer PT Semen Kupang would be returned to the Asset Management Company (PPA), culminating in an agency for the restructuring of state enterprises in difficulty to help put an end to the financial mess it is now in.
"The PPP will issue to determine the best way to restructure," Secretary of the Ministry of State Enterprises Said Didu said Wednesday. "It may be a shareholder of Semen Kupang, if necessary."
Despite its financial problems, said added, the company - which produced 300,000 tons of cement last year, has plenty of opportunities for the state to take over from her.
"I do not see why we need to restore a company to foreign customers, instead of maintaining or profitable," said added, referring to the failure of a movement by the Indian acquisition of the company.
Semen Kupang to fulfill his activities since May last year because he is not to resolve a Rp 25 billion (U.S. $ 2.3 million) in debt Sewatama PT Jakarta, one of its suppliers.
The debt is at the top of the Rp 500 billion it owed to Bank Mandiri last August.
The State Bank has converted part of its debt into shares Semen Kupang is a major shareholder of the company. Mandiri is a 38 per cent in the company, formerly a subsidiary of the largest cement manufacturer, PT Semen Gresik.
The other shareholders are the central government, which owns 61.48 percent of PT Semen Kupang hand, and a provincial government Flobamora PD company which holds 1.12 percent or Rp 1.5 billion.
Semen Kupang descent path leads to the layoff of 600 workers in the middle of last year, sparking public protests and street rallies. (DNA)
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