Govt to sell more shares in Antam, Timah and PTBA

The government plans to divest more stake in state owned companies PT Aneka Tambang (Antam), PT Timah and PT PT Batubara Bukit Asam (PTBA) next year as part of its privatization program, Bisnis Indonesia reported on Friday.

Mamudin Yasin, the deputy of the state minister of state owned company, said in Jakarta on Thursday that the government would sell another 14 percent share in PT Antam and PT Timah, respectively.

?The government will remain the majority shareholder at the two companies despite the divestment,? he said. At present, the government owns 65 percent share in both Antam and Timah. He, however, said that the scheme of the privatization of the two companies had not been decided.

Besides Antam and Timah, the government would also include coal mining company PTBA and several state banks including Bank Negara Indonesia, Bank Mandiri in the privatization program in 2004.

Mahmudin said that the government would further divest its shares in PTBA, which made its capital market debut last year. ?The government has sold 15 percent of PTBA last year and is still able to sell another 20 percent in the company, ? he added. (*)