Govt to merge state-owned mining firms
Thursday, September 22 2005 - 11:53 PM WIB
State Minister for State Enterprises Soegiarto said that the government would merge state-owned mining firms PT Aneka Tambang, PT Batubara Bukitasam and PT Timah in a bid to improve the performance of the companies.
Soegiarto made the statement during a meeting with the House of Representatives' Commission VI on trade and industry on Thursday.
He said that the merger was part of the government's plan to revitalize 159 state-owned companies as most of them made little contribution to the treasury.
He said that the plan to merge the mining firms would be discussed later with other economic ministers.
"As the three companies are listed on the Jakarta Stock Exchange, the mergers must be made through shareholders meetings," he said. (*)