Minister Dahlan to Charge Freeport Dividend of Rp1.5 Trillion

TEMPO.CO, Jakarta - State-Owned Enterprises Minister Dahlan Iskan will keep urging Freeport Indonesia to pay out as much as Rp800 billion (US$67 million) dividend. The figure was far lower than the total liabilities of US$125 million.

"They [Freeport] promised to pay Rp800 billion. We will take whatever number they can pay. The rest will be billed later," said the minister at his office yesterday.

The government will also urge other companies to pay out their dividend. One of them was the State Electricity Company (PLN) that was unable to pay Rp4 trillion (US$334 million) due to foreign exchange losses.

Former SOE Ministry Secretary Said Didu suggested the government to improve its bargaining power in Freeport by increasing the amount of its stocks by 20 percent at the company. Therefore, the government would have the right to fill director and commissioner positions at the company.

According to Said, the method would make Freeport to become more compliant in paying out the dividend.

"Freeport Indonesia is a closed corporation. It has interim dividend," Said explained, adding that the government should encourage Freeport to list its stocks at the Indonesian Stock Exchange so that the company’s financial performance can be monitored.

FAIZ NASHRILLAH