CLEAN WATER SUPPLY: Basuki: Provincial Government will Own Palyja
KOMPAS, 19 July, 2013, Page 27, Section: Metropolitan
Author not mentioned
JAKARTA, KOMPAS - Deputy Governor of Special Capital Territory of Jakarta (DKI Jakarta), Basuki Tjahaja Purnama, has asserted that DKI Jakarta Provincial Government will stick to its original plan to acquire all the shares of clean water operator PT Palyja. The shares purchase will be done by two local government-owned enterprises (BUMDs) with a capital injection of Rp 1.5 trillion.
Next week, DKI Jakarta Provincial Government will make an agreement concerning the plan to purchase all of these shares.
"The plan remains the same. Nothing has changed. DKI’s PD Pembangunan Sarana Jaya will acquire all the shares of Suez Environment, while PT Jakarta Propertindo will purchase all the shares of Astratel. We want the company’s control using friendly means,” said Basuki, Thursday (18 July), in Jakarta.
Suez (a French company) and the private national company Astratel are the shareholders of Palyja. Basuki asserted that DKI Jakarta Provincial Government can afford to buy all the shares of the clean water operator company.
According to Basuki, he sees there is some sort of worry among the board of directors of Palyja that DKI Jakarta Provincial Government may not have adequate budget to take over the clean water operator. They think that DKI Jakarta cannot afford to pay. The worry is unwarranted because DKI Jakarta Provincial Government will certainly settle its obligations, because it has the money.
"They should not think that we will default. We want to show; we are professional. PT Pembangunan Jaya is a publicly listed company. Jakarta Propertindo is not yet publicly listed, but in 2015 it will be. Who is not professional?" said Basuki.
A similar message was conveyed by President Director of PD PAM Jaya, Sri Widayanto Kaderi.
According to Sri, the process of Palyja shares sales is continuing in accordance with the initial plan. However, Sri did not yet know in detail about the purchase of Astratel’s shares.
"All the process is underway. We have issued a rejection letter on the sale of Suez’s shares to a Philippine company. Now, the purchase process is being done by DKI Jakarta Provincial Government,” said Sri.
Not yet knowing
Corporate Communication and Social Responsibilities Head of Palyja, Meyritha Maryanie, said that Palyja’s management did not yet know about the purchase of Palyja’s shares by DKI Jakarta’s BUMDs.
"We are trying to coordinate with the relevant parties. What is sure, Palyja’s management and all its employees remain fully committed to providing professional services to the community,” she said.
According to Meyritha, Palyja’s management does not have any authority over the sale or transfer of shares.
Meanwhile, Commission D member (Development Sector) of DKI Jakarta’s DPRD, Sanusi, reminded DKI Jakarta Provincial Government to not rashly take such a step. This is because one wrong step will have legal consequences behind it.
All this time, DKI Jakarta Provincial Government has not proposed funding injection into the two BUMDs in light of the [planned] purchase of the entire shares of Palyja.
"The amount of money to be used is large. We should not be wrong-footed. There has been no presentation regarding the legal basis, considerations, and cost-benefit in the purchase of Palyja’s shares,” Sanusi said.
One thing that should also be noted, Sanusi continued, is whether it is possible for the two BUMDs of DKI Jakarta to buy all the shares of Palyja.
According to him, the purchase of Palyja’s shares must comply with the statutes and articles of association (AD/ ART) of the BUMDs in question. If this proved to be possible, there is no problem. However, if it turns out to be that the AD/ ART prohibits it, the shares purchase plan should be reviewed. (FRO/ NDY)