JAKARTA-Minister of SOEs Dahlan Iskan claimed that he is unable do anything about the continuation of initial public offering (IPO) for state-owned companies this year.
Many problems are still constraining the IPO plan, including licensing problem, Dahlan admitted. "It's still difficult to carry out the IPO since many things need to be settled first. So, I give up. We will try to settle it down, but it's okay if we can't get approval," he said on Tuesday (9/18/2012).
Earlier this year, Minister Dahlan eager to target some five state-owned companies to go public. Unfortunately, only two companies, PT Waskita Karya and PT Semen Baturaja, undergo to IPO process this year.
Though, they are still waiting for document finalization. Waskita Karya is still waiting for the issuance of government regulation (PP) about the return of its status as a SOE. Previously, the House gave permission to the company to sell its shares to public on condition that the company returns its status as a state owned enterprise.
As for Semen Baturaja still cannot realize its plan due to disagreements concerning the Ministerial Decree on the appointment of directors for the state-owned cement company. "The Ministerial Decree will not be changed. It cannot be imposed if the license is not obtained," he added.
On the other hand, Jakarta Composite Index (JCI) is predicted to strengthen on Thursday (9/19) after declining in the previous trading.
Foreign Funds
According to NISP Sekuritas Analyst Kam Lipto, the index establishes a new highest level after penetrating over the level of 4200. "The condition in short term is still bullish," he added.
News factor from European region is still a concern for investors. In addition, the Jakarta gubernatorial election to be held on Thursday (20/9) will also become a public concern. Lipto said the declining JCI on Tuesday is reasonable since the index only scored 4,8% gains in the last 2 weeks.
Therefore, the market player carried out profit taking considering many of the leading stocks in the mining sector scored an increase. The daily transaction value rose IDR8.57 trillion following a crossing on EXCL-coded stock at IDR4.9 trillion.
Meanwhile, foreign investor's net buy reached IDR5.4 trillion. Therefore, foreign funds continued to flow into domestic capital market since Friday (9/14). Based on the trading data in the last 3 days, foreign investor booked net buy of IDR7.3 trillion. (T06/aph)
Showing 0 - 0 of 0 comments