Shhh…This is a leak of investors who want to save Garuda

Jakarta –

The entry of strategic investors is one of the options in rescuing PT Garuda Indonesia (Persero) Tbk. As is well known, Garuda’s current condition is quite severe because of losses that lead to a mountain of debt.

The chairman of the Garuda Rescue Committee, Martin Manurung, said that the whereabouts of this strategic investor should be asked for more details with Garuda management and the Ministry of SOEs. He said that his party only stipulates that state ownership in Garuda is at least 51 percent.

In addition, his party also requested that before investors enter, they should be reported to Commission VI.

“Regarding the options for strategic investors that may enter, in my opinion, clearer information is from the management of Garuda and the Ministry of SOEs. We only provide conditions, among others, so that state ownership remains at least 51% and we ask that prior to the entry of strategic investors, Report first to Commission VI to ensure that Garuda’s recovery business scheme remains on track and ensures its impact on the composition of shareholders,” he explained to detik.comMonday (25/4/2022).

However, as far as he knows, Garuda wants the investors to come from within the country.

“Regarding strategic investors, they must still carry out intensive communication with various parties. As far as I know, Garuda management wants the strategic investors to also come from within the country,” he said.

The existence of strategic investor options is revealed in the Report on the Implementation of the Garuda Rescue Committee VI. In the report, it is stated that the Panja understands the possibility of a privatization program related to the restructuring that is being carried out in the form of converting debt into shares and the entry of additional capital. Therefore, the Panja asked the Ministry of SOEs to continue to coordinate with the Government Privatization Committee and Ministries/Institutions regarding the privatization program which will be carried out as long as state ownership is at least 51%.

“The Commission VI of the DPR RI’s Garuda Rescue Committee understands that there is an option to enter strategic investors in the rescue process of PT Garuda Indonesia (Persero) Tbk. Therefore, the RI DPR RI’s Commission VI Garuda Rescue Committee has asked the Ministry of SOEs and PT Garuda Indonesia (Persero) Tbk to report in advance. First, to Commission VI of the DPR RI if strategic investors will enter, as long as state ownership is at least 51%,” the report said.

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