VIVAnews - The Indonesian government believed that State-owned Enterprises (SOEs) is quite capable of taking over all shares of PT Indonesia Asahan Aluminium (Inalum).
For the time being, Inalum shares are owned by the Indonesian government by 41.1 percent and Nippon Asahan Aluminium (NAA) by 58.9 percent.
"The Ministry of SOEs have been informed of the company's financial condition," said Mustafa today, June 10.
However, Head of Asahan Authority, Effendi Sirait, said if the government wants to fully control Inalum, the required fund would reach US$220 million.
The State Budget will have zero allocation on the acquisition. "We can afford it even without being supported by the State Budget," he said.
The government has planned to fully take control of Inalum. The Indonesian government is still outlining the proposal.
Effendi said earlier that the acquisition fund of US$220 million will be used for working capital (US$110 million) and purchase shares according the book values (US4110 million).
Effendi set the ideal aluminium price at US$1,800 per ton to gain the reasonable profit.
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Translated by: Bonardo Maulana W
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