Holding PTPN Would be Downsized to be Four Companies Only

Holding PTPN Would be Downsized to be Four Companies Only

InfoSAWIT, AMSTERDAM – The government planned to downsize Holding Perkebunan Nusantara (PTPN), which there are 13 companies to be only 4 companies. The plan was delivered by Minister of Enterprises, Erick Thohir, in his visit to Netherland, Saturday (3/9/2022).

Erick thought, PTPN would only consist of four sub-holdings, they are, Sugar Co for sugar, Palm Co for palm oil, and other two. He continued, the downsizing is significant to make Enterprises better again, for instance, by downsizing the directors which each of the company has five directors.

The efficiency would be done by having consolidation through holding PTPN III. Each sub-holding would only have one chief operation officer (COO). "PTPN targets that the 2021 losses reached Rp 1,6 billion but the 2021 book got profits about Rp 4,6 billion. This is the proof that we want to be more efficient and effective,” he said, as quoted from Kompas.

The downsizing of 108 to be only 11 enterprises that got profits and delivered profits would be only 30 enterprises eventually.

But Erick told, the downsizing cannot be meant to fire the workers. Only the directors and commissioners would be less. “That is alright, only rotation,” he said.

The consolidation would be running by the late of 2022 by establishing Sugar Co and Palm Co. this is hoped to end by the midst of 2023. The establishment of sub-holding is about to get capital access in the stock exchange through initial public offering (IPO). (T2)