REPUBLIKA.CO.ID, JAKARTA - Liquidation process of PT Industri Soda Indonesia, a state owned company in soda business, is hampered by the gloomy prospect of asset selling.

Undersecretary for investment and synergy at Minister od State Owned Enterprises (SOEs), Herman Hidayat, said selling ISI's assets was challenging.

"It's no easy to sell its property asset and currently the process is still halted," Hidayat said on Tuesday.  

Government decided to liquidate the soda company in 2007 as the company's loss reachedLiquidatio  20.6 billion IDR. Deputy Minister of SOEs Mahmuddin Yasin said that the price must be in accordance with the asset's tax value. 

"The selling process takes time," he said. 

Yasin admitted there were about 30 SOEs showed bad performance then liquidation would be the last resort to tackle the problem. Other option is putting the company into other state owned enterprise, as the government did to PT Bahtera Adi Guna (BAG) when the company was acquired by PT Perusahaan Listrik Negara (PLN).

According to Yasin, only small number out of 142 SOEs had good performance. "Around 70 percent of profit of SOEs comes from state-owned banks and Pertamina," he said. 

Liquidation process of PT Industri Soda Indonesia, a state owned company in soda business, is hampered by the gloomy prospect of asset selling.

Ikuti Whatsapp Channel Republika