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NEWS UPDATES 23 September 2010

Yudhoyono orders SOE evaluation

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President Susilo Bambang Yudhoyono ordered his ministers Thursday in Jakarta to do a thorough evaluation of all state-owned enterprises (SOE) by 2013.

"From ministers, especially the coordinating economic minister and the state-owned enterprises minister, I want an incisive evaluation within three years. If there are still SOEs that are inefficient, not productive, not profitable and with no prospects, something will have to be done," he said at the opening of the Indonesia Business-BUMN Expo and Conference (IBBEX) 2010.

Yudhoyono said the ministers could merger, reform, restructure or even liquidate the companies.

Indonesia currently has 141 state-owned enterprises working in various sectors. State firms booked Rp 45.3 trillion in net profit during the first half of this year, an 18.26 percent increase from Rp 38.3 trillion in the same period last year.

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