Ministry of SOEs waits for BNI's study to take over Bahana

JAKARTA: The Ministry of State-own enterprises (SOEs) is waiting a comprehensive study of PT Bank Negara Indonesia Tbk (BNI) related to its plan to take over PT Bahana Pembinaan Usaha Indonesia (BPUI).SOE Minister Mustafa Abubakar said he had received a proposal from BNI to acquire BPUI, but it did not mention a comprehensive study what the bank will do in the future after acquiring BPUI."After it was traced, the letter had long come to us. We have replied and asked for further study to them [BNI], but until now there are no response, so it is difficult to answer [give direction], "he said at the Ministry of SOEs Office, today.He supported for merger of the two state-owned company subsidiaries of BNI Securities and Bahana Securities, as long as it can be mutually reinforcing of each SOE.He also fully devolved to BNI management to list BNI Securities to the Indonesian Exchange (IPO) within three years."I do not know BNI Securities IPO plan, but I suppose it could be considered further by the each parent companies. Is the merger first with Bahana Securities, or IPO first. Now we are still waiting for their business plan review, "he said. (msw)