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The Indonesian Ministry of Finance is currently finalizing the transfer of PT Pilar Sinergi BUMN Indonesia (PSBI) shares and the management of debt payments for the Whoosh high-speed railway. The process remains ongoing despite recent leadership changes within the ministry.
Evita Manthovani, the Ministry of Finance’s Director General of State Assets, confirmed that the scheme for the share transfer has been established and discussed in detail. She stated that the plan is designed to ensure that the fulfillment of PT PSBI’s debt obligations does not directly involve the state budget (APBN).
Under the proposed plan, the Ministry of Finance intends to take over up to 60 percent of PT PSBI shares, which are currently part of a state-owned enterprise consortium under the Danantara Investment Management Agency (BPI Danantara). These shares are expected to be managed by a Special Mission Vehicle (SMV) under the Ministry of Finance, which would then handle the Whoosh debt installments.
To facilitate the transition, the ministry is conducting due diligence on the PSBI shares and evaluating their fair market value. The ministry is also mapping various operational, financial, and legal compliance aspects to ensure the transfer is executed effectively.
Parallel to these assessments, the government is drafting a Presidential Regulation to serve as the legal foundation for the asset transfer and corporate action. Evita noted that the ministry continues to coordinate with the Ministry of State-Owned Enterprises and BPI Danantara to finalize the process.
Article source: ekbis.harianjogja.com | Image credit: ekbis.harianjogja.com
