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Indonesia considers holding company for airports


September 24, 2008

Indonesia considers holding company for airports
Indonesian government plans to set up a holding company later this year to oversee the management of current airport operators, in a bid to bolster efficiency and the capacity to secure lending, reported local daily the Jakarta Post.

Under such a scheme, the new firm will serve as the parent company for operators PT Angkasa Pura I & II, Said Didu, the secretary to the State Minister for State Enterprises, said recently.

The government is in the midst of finalising a regulation that will pave the way for the new company's establishment, he added.

"We expect the new holding to be set up by the end of this year."

The plan forms part of a larger scheme to establish one holding company for state enterprises operating in particular sectors, including banking, pharmaceuticals, cement, plantations, mining and fertilisers, among others.

The aim of such a program is to increase the focus and efficiency of state companies. The resulting unification of assets would also make them more bankable with respect to acquiring loans for strengthening business operations.

The technical details regarding the holding company will be provided in the government regulation, Said added.

Angkasa Pura II operates airports in western Indonesia, including Soekarno-Hatta International Airport and Halim Perdanakusuma in Jakarta, Polonia Airport in Medan, Supadio Airport in Pontianak, Minangkabau International Airport in Padang, Sultan Mahmud Badaruddin II in Palembang, Sultan Syarif Kasim II in Pekanbaru, Husein Sastranegara in Bandung, Sultan Iskandarmuda in Banda Aceh and Raja Haji Fisabilillah Airport in Tanjung Pinang, Riau Islands.

Airports under the company's management include Adi Sumarmo Airport in Solo, Central Java; Adi Sutjipto Airport in Yogyakarta; Juanda Airport in Surabaya, East Java; Ngurah Rai Airport in Bali; Syamsuddin Noor Airport in Banjarmasin, South Kalimantan; Sepinggan Airport in Balikpapan, East Kalimantan; Hasanuddin Airport in Makassar, South Sulawesi; Sam Ratulangi Airport in Manado, North Sulawesi; and Frans Kaisiepo Airport in Biak, Papua.

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