SHEET COUNTRY
REPUBLIC OF INDONESIA
PRESIDENT OF THE REPUBLIC OF INDONESIA
No. 24 YEAR 2001
ABOUT
THE COUNTRY 'S GOVERNING BODY' S PRIVATIZATION CONSULTANCY TEAM
PRESIDENT OF THE REPUBLIC OF INDONESIA,
.,, weighed: a. that the State-owned Enterprises ' privatisation program is a Government policy aimed at improving the performance of the State-owned Business Agency that includes improvements to the structure of the application, a change in the company's culture and the creation of added value company based on the good corporate governance principles based on transparency, self-reliance and accountability;
., b. that the implementation of the State-owned Enterprise's privatisation program is conducted simultaneously and coordinated and in accordance with the general policies of the government with regard to the principles of the corporation and the provisions of laws Applicable;
.,, c. that based on these matters above, then it is seen necessary to form the State-owned Governing Body ' s Privatization Consultancy Team;
.,, Given: 1. Section 4 of the paragraph (1) and Article 33 of the Basic Law of 1945 as amended by the Second Amendment of the Basic Law of 1945;
., 2. Law Number 9 of the Year 1969 on the Decree of Government Regulation Substitute No. 1 of 1969 on the Forms of State Enterprises (sheet of State of the Republic of Indonesia in 1969 Number 16, Additional Gazette number 2890) to Law (Sheet State Of The Republic Of Indonesia 1969 Number 40, Addition Of State Sheet Number 2904);
., 3. Law No. 1 of 1995 on the Limited Perseroan (State Sheet of the Republic of Indonesia of 1995 Number 13, Additional Gazette State Number 3587);
., 4. Government Regulation No. 12 Years 1998 about the Company Perseroan (State Sheet of the Republic of Indonesia Year 1998 Number 15, Additional Gazette State Number 3731);
. .5. Government Regulation No. 89 of 2000 on Revocation Of Government Regulation Number 98 of 1999 on Failover, Duty and Authority of Finance Minister as General Meeting of Shareholders (RUPS) or Shareholders In Corporate Perseroan (PERSERO) and Limited Perseroan Owned By the State of the Republic of Indonesia to the Minister of State Cultivation and Development of State-owned enterprises as amended last several times with Government Regulation No. 48 Years 2000 (sheet State of the Republic of Indonesia Year 2000 Number 178, Additional State Sheet Number 4008);
DECIDED:
.,, SET: THE PRESIDENT ' S DECISION ON THE CONSULTING TEAM PRIVATISATION OF THE STATE-OWNED BUSINESS AGENCY.
Section 1
In this President ' s Decision, which is referred to by:
., 1. The State Owned Entity for the next called BUMN is the Perseroan Company (PERSERO) as referred to in the Government Regulation No. 12 of 1998 about the Perseroan Company (PERSERO).
., 2. The privatization of BUMN is the sale of state-owned shares of the Republic of Indonesia to the BUMN and or through the issuer of new shares of BUMN.
., 3. The Public Offering is the sale of shares through both domestic and overseas capital markets, both first-stock sales and later stock sales.
., 4. Subsidiary Company is a Limited Perseroan that all shares are owned by the BUMN.
Section 2
Forming the BUMN Privatization Consultation Team which is next called the Consultation Team with the following membership arrangement:
1. Chairman
2. Capture Member: Minister of State Coordinating Minister for Economic Affairs;
3. Vice Chairman
4. Capture Members: Finance Minister;
5. Secretary
6. Capture Member: Director General of BUMN Coaching, Finance Department;
7. Member:
.,
., a., a. Minister who makes policy in the sector where the BUMN does business activities;
B. Secretary General of the Treasury;
C. Director General of the Financial Instituts, Treasury;
D. Director General of the Budget, Treasury Department;
e. Chairman Of The Capital Market Supervisors Board.
., f. The Secretary of the Consultative Team can form the Secretariat at the Directorate General of BUMN Coaching, the Treasury Department.
., g. The Minister makes policy in the sector where the BUMN performs business activities as referred to in paragraph (1), becoming a member of the Consultation Team only in the privatization of BUMN in its field.
Section 3
BUMN Privatization Consultation Team on duty:
1. Provide a recommendation to the Finance Minister regarding:
., a., a. The BUMN to be privatized;
B. Estimates of the funds can be obtained as a result of privatization.
.,, 2. discuss and provide a way out over the issues arising in the BUMN privatization process in connection with the Government ' s sectoral policy.
Section 4
The Consultation Team is responsible to the President.
Section 5
., 1. The implementation of the privatization of BUMN was conducted by the Minister of Finance as the Deputy Government representing the State as a shareholder in the BUMN.
., 2. In the implementation of the privatization of BUMN as referred to in paragraph (1), the Finance Minister is assisted by the Director General of BUMN Coaching.
Section 6
BUMN ' s privatization is done in a way:
1. The sale of shares to the public through the public offering; and or
2. Stock sales directly to strategic partners.
Section 7
., 1. In terms of the privatization of the BUMN by means of public offering, the implementation is done in accordance with the laws of the capital market.
., 2. In terms of the privatization of the BUMN done by way of sale of stock directly to strategic partners, it must be done transparently.
Section 8
The magnitude of the number of State shares to be released in the BUMN Privatization of influence on control access to BUMN is set by the Minister of Finance.
Section 9
., 1. Investors who can be a potential strategic partner in the privatization of BUMN are investors who have strong financial capabilities.
., 2. In carrying out the selection of strategic partners as referred to in paragraph (1), it can also be considered the ability of a strategic partner in terms of extensive market network ownership, expertise in operating similar companies as well as the ability and willingness to educate the human resources of the company.
Section 10
., 1. All costs of the privatization of BUMN are taken into account and are charged with privatization before being deployed to the State Kas.
., 2. The charge as set forth in verse (1), is required to pay attention to the principle of confluency.
Section 11
., 1. The result of the sale of State shares to the BUMN after the reduced cost of privatisation, was established as a result of the privatization of BUMN and was directly deployed to the State Kas.
., 2. The sale of BUMN's subsidiary companies or BUMN Holding subsidiaries was carried out after first in the General Meeting of the BUMN Shareholders, which was set about the sale plan and the sale of the proceeds of the sales fund. The shares on the subsidiary are concerned.
., 3. In terms of all or part of the fund's share of the share of the company's share of the company, the company's share of the BUMN Shareholders is concerned to be deployed to the State Kas, then part of the company's share of the proceeds from the company's share of the share Deductored with the cost of the sale, directly to the State Kas.
., 4. The results of the new BUMN stock sales issued after a reduced cost of privatization, were a result of privatization that was directly disseminated to the Company's Kas.
Section 12
With the enactment of this President ' s Decision, then:
., a., a. The Decision of the President Number 103 of 1998 on the BUMN Privatization Evaluation Team, and
., b. The decision of President No. 126 of 1999 on the State-owned Enterprises Reform Policy Team;
declared not applicable.
Section 13
This President ' s decision comes into effect at the set date.
In order for everyone to know, order the Presidential Decree of the Decision by placing it in the State Sheet of the Republic of Indonesia.
.,, Set in Jakarta
On January 5, 2001
PRESIDENT OF THE REPUBLIC OF INDONESIA,
ABDURRAHMAN WAHID.
Promulgated in Jakarta
On January 5, 2001
SECRETARY OF STATE
REPUBLIC OF INDONESIA,
DJOHAN EFFENDI.
