From Government of Indonesia

President Approves Capital Injections

President Susilo Bambang Yudhoyono on Thursday (28/12/06) signed a government regulation ordering the government to inject funds into 12 state-owned enterprises, State Secretary Yusril Ihza Mahendra told reporters.

"The president hopes the state enterprises will increase their performance after obtaining additional capital from the government," he said, according to Antara.

Garuda Indonesia will receive Rp500 billion, closely followed by the other state-owned airline, Merpati Nusantara Airlines, with Rp450 billion in fresh funds.

Other companies which will receive government capital are PT Kertas Kraft Aceh (Rp100 billion), PT Kertas Letjes (Rp100 billion), PT Kredit Berjangka Indonesia (Rp82 billion), PT Perikanan Nusantara (Rp100 billion), PT Pusri (Rp100 billion), PT Dirgantara Indonesia (Rp40 billion), PT PPD (Rp40 billion), Semen Kupang (Rp50 billion), PT Industri Kereta Api (Rp40 billion) and PT Pertani (Rp20 billion).

Mahendra said the government decision to inject new capital into the firms was taken after lengthy discussions.
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