Prospek Penjualan Saham BUMN Di Bursa Lokal Dan Internasional

SOEs have a strategic function. Throughout the course of Indonesian economic development, SOEs have acted as an agent ofdevelopment. SOEs have been the main provider of goods and services for consumption, and for inputs required forfurther production process, such as powertelecom-municationoil and gasfertilizesand land, sea, and air transportation. Total assets of SOEs are recorded at around US$ 140 billionthe produc-tion accounts for about 15% of GNPand SOE\u27s employ more than one million personnel. In brief, one can say that SOEs in Indonesia are the prime market movers. In anticipation of globalism, the government, under Presidential Instruction No. 5/1988, has set out policy guidelines to privatize SOEs. Privatization does not necessarily mean the transfer of ownership to the private sector, but also covers other ways such as build operate and transfer (BOT), build operate and own (BOO), contract management, and joint operation. But the jewel of privatization is going-Public. Why go-public? The reason is that by selling shares on the capital market, several important goals may simultaneously be attained: Funds are generated for GOI to repay the high-cost foreign debt and for the SOEs to expandthe efficiency of SOEs is enhancedcapital is widely distributed among more peopleand, the domestic capital market grows. So far four SOEs entered in the market -- PT Semen Gersik, PT Indosat, PT Tambang Timah and PT Telekomunikasi Indonesia. Others such as PT Bank BNI (banking company), PT Krakatau Steel (steel producer) and PT Jasa Marga (toll road operator) and PLN (power company), will join in the market once preparations are finalized . Movement in the privatization program seems moderate, since for an SOE to be privatized, in most cases, a series of regulatory issues must be streamlined before hand. Privatization of the SOEs is an on-going process, and the GOI is committed to continuing the privatization program in an effort make all SOEs more efficient and competitive, and to attain other important goals