Government's Largest Payment Flows to WIKA, Rp 4 Trillion

State Capital Participation (SCP) to the four largest State-Owned Enterprises (SOEs) will be allocated as follows: PT Wijaya Karya (WIKA) Tbk will receive Rp 4 trillion. The smallest SCP from the government will be given to PT Jasa Marga (persero) Tbk, amounting to Rp 1.25 trillion.

As stipulated in the minutes of the meeting between the House of Representatives and the Government regarding SOE privatization, the total SCP funding required is Rp 9 trillion. According to schedule, these funds will be disbursed in October-November 2016. The SCP is implemented to prevent erosion of the government's shareholding.

For the construction SOE Wijaya Karya, the government's shareholding reaches 65.05 percent. According to schedule, disbursement will occur on October 17, 2016, while the new share sales will be listed on the exchange on October 19. The estimated disbursement time for Krakatau Steel's SCP is October 31.

For Jasa Marga, with a 70 percent government shareholding, the estimated funding requirement is Rp 1.25 trillion and is expected to be disbursed on November 14. The SCP for PT PP is expected to be disbursed on November 28, 2016.