Indonesia reveals next wave of privatization

The Indonesian Minister of State Owned Enterprises (SOEs) outlines plans for attracting a new wave of foreign investment and privatization receipts.

In a wide ranging speech to a select group of foreign investors in Hong Kong yesterday, Sugiharto, the Indonesian Minister for SOEs, revealed the many measures his government is considering in order to increase the level of foreign investment in the country from 20% to 30% of GDP, a necessary figure to get GDP growth up to 7%.

On the corporate front, Sugiharto said Indonesia Power and Jasa Marga would both be coming to the international capital markets this year. He noted that Indonesia Power was looking at either a bond issue or a pre-IPO convertible and is able to withstand more debt thanks to its $6 billion asset...

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