Tito Sianipar, Jakarta – Muhammad Said Didu, Secretary to the State Minister of State Owned Enterprises (SOEs), has stated that 85 percent of SOE shares already listed on the stock exchange are owned by foreign parties.

In spite of them being foreign owned, there has not been any negative effect on the SOEs. "It is a fact that 85 percent of the shares of listed SOEs are owned by foreigners," said Said Didu after a discussion at Ritz Carlton Hotel, Jakarta, today (23/2).

With such a large ownership, this means that it is foreigners who benefit from a large portion of SOEs' profits.

Large SOEs that are already listed and always record profits include PT Telkom, PT Indosat, PT Semen Gresik, PT Bank Mandiri, PT Bank Rakyat Indonesia, PT Kimia Farma, PT Adhi Karya, PT Perusahaan Gas Negara (State Gas Company), and PT Bukit Asam.

But Said did not specifically mention which SOE shares were owned by foreigners. He went on to say that although the shares were in the hands of foreigners, it did not mean there was no negative effect.

"If 85 percent of the shares are owned by foreigners, it is they who enjoy much of the profit, not Indonesia," he said.

The high rate of foreign ownership, Said continued, showed the minimum ability of domestic investors to own SOE shares. "Indonesian people must increase their capabilities so that they can obtain dividends or enjoy profits from SOEs," he said.