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Erick Thohir plans liquidating dying SOEs

Tempo - December 23, 2019

Muhammad Hendartyo, Jakarta – Minister of State-Owned Enterprises Erick Thohir asserted he will not hesitate to liquidate insolvent SOEs that are just "camouflages". One of the SOEs he said to be camouflaging is PT. Iglas.

Iglas (Persero) is a company engaged in manufacturing glass packaging, especially bottles, established in October 1956.

"What about companies like Iglas? It won't die out, but it is not exactly living. That's not healthy. It'd not healthy to lie to ourselves – that's just a camouflage," he said at the Djakarta Theater, 22 Desember.

Erick uses the term "camouflage" to describe how the company has no employees on payroll. "It would be even more cruel to keep the company," he argued.

Erick Thohir said that right now he is waiting for the issuance of a rule to implement the liquidation, which would be in the form of a government regulation.

Source: https://en.tempo.co/read/1286901/erick-thohir-plans-liquidating-dying-soes