Trembling not intercepted House of Representatives, Agus Marto insists Buy 7% Newmont Shares

Johannesburg - Finance Minister Agustin Martowardojo insisted his side still will buy the remaining shares divestment of PT Newmont Nusa Tenggara (NNT) of 7 percent, although the local government wants the remaining shares and get support from some members of Parliament.


"We will convey that the Government already has 24 percent, a 7 percent will be owned by the central
government and the central government will not fully cooperate with the party everywhere and we hope all parties can understand and support this," said Agus Marto when met at his office , Wahidin Jalan Raya, Jakarta, Wednesday (20/04/2011) night.


In fact he dared to explain to the Commission VII and XI of the House of Representatives who have been supporting the ownership of 7 per cent divestment of shares in the hands of local governments.


"I always called the Parliament, if the House of Representatives Commission VII, XI commission have expressed the view, we would prioritize to explain to the Commission VII and XI of the steps taken by the government, so of course it is our priority to explain it," he said.


Agus Marto said it would reassure Parliament that the presence of government ownership in the company Newmont, could provide added value to the country and worth having.


"We will meet with Parliament to ensure that this is something that needs to be owned by Indonesia," he replied when asked whether the purchase was not afraid to be overturned when the House of Representatives calling Agus Marto on 8 May.


While the reasons for questioning the legality of the Parliament that the Government Investment Center (PIP) in the purchase of shares divestment, Director General of the State Property Ministry of Finance Hadiyanto affirm the legality of the agency has had to buy Newmont shares.


"The existing institutions have no legal basis, all already, both of its mandate, its legal PIP has the mandate and authority and responsibility are clear about what responsibilities should be run PIP," he said on the same occasion.


Related demo prosecution over 7 per cent local ownership divest remaining shares are held chaotic, Agus Marto expect the arena of democracy is not to disturb the investment climate of Indonesia.


"I just got back (from Washington DC to attend G20), if there is a demo, we're a state of law and democracy so please but what I want, not to damage the investment climate," he concluded.


As known to the West Sumbawa regency want a 7% stake divestment Newmont fell into his hands. Local government and residents threatened to close operations if Newmont does not get it. Demonstrations also occur repeatedly.


According to the contract work, foreign shareholders of NNT required to divest 51% of its foreign shares, amounting to 80% of it to the national party with the most recent schedule should be March 2010. As many as 20% have mastered nationally through Pukuafu, so the NNT should divest 31% of the rest.


Schedule divest 31% stake NNT according to the contract work was 3% in March 2006, 7% in March 2007, 7% in March 2008, 7% in March 2009, and 7% in March 2010. But all the divestment schedule back, and now the remaining 7% stake to ration divested in 2010.


PT Multi Region Compete (MDBs) have acquired 24% stake divestment and intend to have the remaining 7% divestment in 2010. MDB is a joint venture PT Maju Bersama Region (DMB) with PT Multicapital, which is a subsidiary of the Bakrie Group. Meanwhile, DMB is the three government-owned enterprises, the government of Sumbawa, West Sumbawa Local Government, and Local Government NTB.

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