Jokowi: We will Buy Back Indosat Shares
23 June 2014 00:10 WIB
TEMPO.CO, Jakarta – Indonesia's presidential candidate from the PDIP coalition, Joko Widodo, said he will buy back Indosat Tbk's shares if he is elected as president. In the third presidential debate held at the Hoilday Inn on Sunday, June 22, Jokowi stated his determination for Indonesia to re-own the telecommunications and multimedia company—along with its satellites—in the interest of national defense system.
"In the future, we must buy-back Indonesia's [assets] so that they become ours again. Therefore, our economy must grow by seven percent," Jokowi answered to his rival Prabowo Subianto when the latter asked about Megawati Soekarnoputri's decision to sell Indosat.
Jokowi defended his party chief Megawati who, during her time as president, sold Indosat to a Singaporean company. Jokowi said that, at that time, Indonesia's economy was still suffering from the economic crisis of 1998, and the country needed a lot of money to recover.
In 1980, the government bought Indosat's entire stake, making it a state-owned enterprise (SOE). In 1994, Indosat listed its shares on the New York Stock Exchange, becoming Indonesia's first SOE to be listed overseas. At the end of 2002, the government divested 41.94 percent of its shares in Indosat to Singapore Technologies Telemedia Pte. Ltd, allowing Indosat to once again become a foreign investment company.
Last night's debate was centered on international politics and national security and was divided into six sessions. In the first and second sessions, the candidates delivered their programs, and outlooks on the topic.
In the third session, the moderator asked each candidate questions that must be answered within three minutes. In the fourth and fifth sessions, candidates asked and answered each other. The debate ended with a session wherein each candidate gave his closing statement.
ANANDA TERESIA | RIRIE RANGGASARI