TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    Amazon says it has ‘hundreds’ of Rivian electric vans making deliveries in the US

    November 7, 2022

    Ryanair swings to first-half profit and raises passenger forecast

    November 7, 2022

    Devialet brings its sci-fi design aesthetics to a $790 portable speaker

    November 7, 2022
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      Amazon says it has ‘hundreds’ of Rivian electric vans making deliveries in the US

      November 7, 2022

      Devialet brings its sci-fi design aesthetics to a $790 portable speaker

      November 7, 2022

      Elon Musk’s response to fake verified Elon Twitter accounts: a new permanent ban policy for impersonation

      November 7, 2022

      The iPhone 14 Pro and Pro Max will come with ‘longer wait times’ due to factory lockdown

      November 6, 2022

      Meta’s reportedly planning to lay off ‘thousands’ of workers this week

      November 6, 2022
    • Business
    • Cyber Security
      National Security News

      List of 620 Russian spies, featuring one alleged agent at the centre of one of the biggest personal scandals in Wall Street history.

      September 24, 2022

      Cybersecurity ranked most serious enterprise risk in 2022

      August 31, 2022

      Registration open for CISA virtual summit on K-12 school safety

      August 31, 2022

      What do the Trickbot leaks reveal about Russian cybercrime?

      August 31, 2022

      What cybersecurity measures do CISOs outsource?

      August 30, 2022
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Business»Indonesia plans to list unit of flagship oil group Pertamina this year
    Business

    Indonesia plans to list unit of flagship oil group Pertamina this year

    October 9, 2022Updated:October 9, 2022No Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Indonesia plans to list a unit of its government-run oil group Pertamina this year, stepping up a partial privatisation push as part of reforms to its $606bn state-owned enterprise sector.

    The initial public offering of Pertamina Geothermal Energy, which uses seismic heat to generate electricity in the volcano-studded archipelago, could value the company at up to $2bn depending on market conditions, people familiar with the matter said.

    State-owned enterprises minister Erick Thohir said the offering would spearhead other capital raisings and strategic partnerships planned for government-controlled companies, including Pertamina’s exploration and production arm Pertamina Hulu Energi.

    “This is the first time one of the sub-holdings [subsidiaries] of Pertamina will go public,” said Thohir in an interview with the Financial Times at his ministerial residence in Jakarta, adding that the IPO was slated for November or December.

    Indonesia’s state-owned enterprises have assets equivalent to about half of the country’s $1.2tn gross domestic product in sectors ranging from telecoms and oil to cement and hotels. They generated total revenue of about $155bn and net profit of $8bn last year.

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

    To increase their efficiency, Thohir, a businessman and former owner of Italian football team Inter Milan, has consolidated 108 companies to 41 and placed them in 12 business clusters.

    The goal is to develop more companies with global scale. Indonesia last year had only one Fortune 500 company — Pertamina.

    “I want to push more and more state-owned enterprises to become in the world top-100 or 500 companies,” Thohir said.

    The ministry has said it is planning 14 IPOs under the reforms, starting with last year’s $1.3bn listing of telecom tower company PT Dayamitra Telekomunikasi on the Indonesia Stock Exchange.

    Thohir said that after Pertamina Geothermal, Pertamina Hulu could list next year while Pertamina International Shipping, a petrol and gas logistics company, could also hold an IPO or bring in strategic partners.

    The government is also looking for foreign partners to invest in International Healthcare Co, a merger of state-run hospitals from various companies that has become the country’s largest hospital operator.

    An aerial view of state-owned company Pertamina’s central hospital building in Jakarta
    State-owned Pertamina’s central hospital in Jakarta © Bay Ismoyo/AFP/Getty Images

    IHC is looking for partners for a “health tourism” centre in Bali. The US-based Mayo Clinic is an adviser on the project.

    Analysts said Indonesia’s state-owned enterprises were attractive partners for foreign investors in geopolitically sensitive industries such as mining.

    South Korea’s LG Energy Solution and China’s CATL have recently signed agreements with state-owned enterprises Indonesia Battery Corp and Aneka Tambang for nickel supplies.

    “Global companies feel secure when they speak to state-owned enterprises and they say ‘we’ll guarantee your supply of these natural resources’,” said Kyunghoon Kim, associate research fellow at Korea Institute for International Economic Policy and a longtime Indonesia watcher.

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

    Muralidharan Ramakrishnan, a senior director at Fitch Ratings, said listing some entities separately could make them more attractive and improve funding access, especially for greener energy companies such as Pertamina Geothermal.

    But he pointed out that the reforms, which were flagged in 2017, may take time to implement.

    “So the big question is how and when,” Ramakrishnan said.

    Appointing a prominent businessperson such as Thohir, whose brother runs one of Indonesia’s biggest coal companies, as minister also raised questions about transparency and the need to ensure there was no favouritism, Kim said.

    Other analysts said consolidation and IPOs alone could not assure proper reform. “They have managed to consolidate quite a few entities but it needs more time to assess whether they are more efficient or profitable,” said Siwage Dharma Negara, of the Indonesia Studies Programme at Singapore’s Iseas-Yusof Ishak Institute.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Ryanair swings to first-half profit and raises passenger forecast

    November 7, 2022 Business

    European stocks rise as investors boosted by China speculation

    November 7, 2022 Business

    France’s far-right seeks to move from political fringe to mainstream

    November 7, 2022 Business

    Chinese exports fall for first time since 2020

    November 7, 2022 Business

    Evergrande creditors sell ‘Versailles mansion’ plot in Hong Kong

    November 7, 2022 Business

    FTSE chairs warn of declining relations with institutional investors

    November 7, 2022 Business
    Editors Picks

    Ryanair swings to first-half profit and raises passenger forecast

    November 7, 2022

    Devialet brings its sci-fi design aesthetics to a $790 portable speaker

    November 7, 2022

    Google Cloud Says Running Validator on Solana Blockchain

    November 7, 2022

    European stocks rise as investors boosted by China speculation

    November 7, 2022
    Trending Now

    Evergrande creditors sell ‘Versailles mansion’ plot in Hong Kong

    By techbizweb

    OpenSea Creates Tool for NFT Creators to Enforce Royalties On-Chain

    By techbizweb

    FTSE chairs warn of declining relations with institutional investors

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2023 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.