Legal Status of the Holding Company of Mining State-Owned Enterprises Under the Context of Direct Capital Participation Sourcing from the Separate State’s Assets

DOI

10.2991/iceml-18.2018.58How to use a DOI?

Keywords

Legal Status, Holding Company of Mining State-Owned Enterprises, Separate State’s Assets

Abstract

Establishment of Holding BUMN Mining was formally established on 27 November 2017 in Jakarta with PT. Indonesia Asahan Aluminum (Inalum) becomes the holding company of state-owned mining company PT Aneka Tambang Tbk, PT. Bukit Asam, Tbk, and PT. Timah, Tbk becomes a subsidiary. With this Holding BUMN Mining, the status of PT Aneka Tambang Tbk, PT. Bukit Asam, Tbk, and PT. Timah, Tbk changed from state-owned company to non-corporate status by marking the deed of transfer of shares of series B by SOE Minister Rini Soemarno consisting of PT Aneka Tambang Tbk of 65%, PT. Bukit Asam, Tbk at 65.02%, PT. Timah, Tbk at 65% and PT. Freeport Indonesia of 9.36% owned by the Government into PT. Inalum (Persero) which is 100% owned by the state while still holding shares of series A or dwiwarna in a subsidairy. With the change of status, based on Article 1 Sub-Article 1 of Law Number 19 Year 2003 concerning of SOEs, those who are categorized as SOEs are only holding companies, in the presence of the phrase "equity participation directly from wealth separated state "provides the consequences for the subsidiary of the parent company to be excluded from the category of SOEs so that there is a need to regulate the extent to which the flow of capital participation directly from the state flows to the subsidiary. Given the functions of SOEs as well as agent of development within the framework of implementing government policies aimed at the greatest extent to the prosperity of the people according to what has been mandated in Article 33 of the 1945 Constitution.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Raden Roro Theresia Tri Widorini
PY  - 2018/09
DA  - 2018/09
TI  - Legal Status of the Holding Company of Mining State-Owned Enterprises Under the Context of Direct Capital Participation Sourcing from the Separate State’s Assets
BT  - Proceedings of the 2018 International Conference on Energy and Mining Law (ICEML 2018)
PB  - Atlantis Press
SP  - 268
EP  - 271
SN  - 2352-5428
UR  - https://doi.org/10.2991/iceml-18.2018.58
DO  - 10.2991/iceml-18.2018.58
ID  - Widorini2018/09
ER  -