A national team established by President Susilo Bambang Yudhoyono has begun the efforts to transfer Indonesian Military (TNI) business assets to the state, local press said Tuesday.
Established under Presidential Decree No. 7/2008, the 10-memberteam, comprising officials and businesspeople, has the authority to assess and value all military business assets.
It will then recommend to President Susilo Bambang Yudhoyono which assets and companies should be transferred to the state.
The team would prioritize assessing major businesses belonging to the military, including its foundations and cooperatives.
"We will assess all the military businesses in term of their profitability and liabilities. Then we will recommend to the President what businesses should be taken over," the team chairman, Erry Riyana Hardjapamekas, was quoted by major newspaper The Jakarta Post as saying.
Erry said he was optimistic the team would finish its work before the Oct. 16, 2009 deadline.
Secretary to the state minister for state enterprises, Said Didu, underlined the need for the government to do its due diligence, to avoid acquiring troubled business entities with more liabilities than assets.
The total book value of the military assets is estimated at 1 trillion rupiah (108.8 million U.S. dollars).
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article