Gov?t delays PTBA?s privatization plan to August

Government had decided to delay privatization of state coal mining firm PT. Tambang Batubara Bukit Asam (PTBA) from June to August this year through initial public offering (IPO) in the Jakarta Stock Exchange, Minister of state enterprises Laksamana Sukardi said during a parliamentary hearing Tuesday.

Laksamana said the government is considering giving a nod to PTBA to buy some shares of East Kalimantan based giant coal mining PT. Kaltim Prima Coal (KPC), which is in the process of being offered to Indonesian owned business entities, prior to the IPO to boost PTBA?s value.

Government is seeking to sell some 35 percent of PTBA?s shares to the public.

South Sumatra based PTBA is one of Indonesia?s top coal producer with the out put of some 10 million tones per annum. (alex)