Ernst & Young named to make Pertamina's opening balance sheet

The Ministry of Finance has named Ernst & Young as the winner of the tender to make opening balance sheet report of state-owned oil and gas company Pertamina, which will undergo a major change as part of the re-evaluation of the company's assets.

 

State Minister for State Enterprises Sofyan Djalil said in Jakarta on Thursday that the Pertamina's opening balance sheet could be established within the next two or three months.

 

"The formation of the financial balance sheet is quite urgent. Pertamina is now being audited for that purpose," he was quoted as saying by online news portal Detik.com.

 

He said that once the opening balance sheet report was completed, Pertamina would have more options in seeking for financial sources to support its operations such as through the issuance of bonds. (*)