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Monday July 14, 7:00 PM
Indonesia'sPERTAMINA TO BECOME NON-PUBLICLY LISTED CO IN 2009 JAKARTA, July 14 Asia Pulse - Indonesian state oil and gas company Pertamina has set itself a target of becoming a non-publicly listed company in 2009 at the latest following the conclusion of an audit on its financial conditions.
He said a general meeting of the company's shareholders held on January 30 this year approved the plan to turn Pertamina into a non-publicly listed company. The plan accorded with the company's wish to transform itself into a transparent and accountable firm as well as to meet the highest standard of good corporate management, he said. Earlier, Secretary of the Office of State Enterprises Minister Said Didu said his side was still waiting for an approval from the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) to turn state-owned companies including Pertamina into non-publicly listed ones. The Office of the State Enterprises Minister has adopted four criteria as requested by the Bapepam-LK to turn state firms into non-listed ones. The criteria deal among others with assets and business lines. "Turning state firms into non-publicly listed ones is part of the government's efforts to make them sound and announce their performance transparently," Didu said. Soemarno said the plan to turn Pertamina into a non-publicly listed firm largely depended on when the audit of the company's financial reports from 2004 to 2007 would be completed. (ANTARA)
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