Negotiated Period
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PT Freeport Indonesia has agreed to release 51% of its shares, but until now the calculation and term of the release of shares are still being negotiated with the Indonesian government. Currently, the Indonesian government already owns 9.36% of Freeport Indonesia's shares so that its subsidiary Freeport-McMoRan Inc. it must release 41.64% of the shares to reach at least 51%.
Coordinating Minister for Marine Affairs, Luhut Binsar Pandjaitan, said that the period of release of the shares is still being discussed with Freeport. In addition, the calculation of the value of shares was still calculated on both sides.
"The divestment of 51% shares is not a bargain. It is the right of the Indonesian government. The process may be what we do for how long, whether completed 2019 or 2021, "he said at the office of the Coordinating Ministry for the Ministry of Home Affairs, Tuesday (17/10).
Previously, SOE Minister Rini Soemarno hoped that the divestment of Freeport Indonesia shares divestment could be completed by the end of 2018 or first quarter of 2019.
"The priority of Freeport Indonesia's shares divestment is to be completed by December 2018, but it is still in talks, especially concerning the method of calculating its valuation [appraisal]. Then, whether at once 2018, whether in 2019, whether partly or directly, it is still finalized, "he said.
Based on Government Regulation No. I / 2017 on the Implementation of Mineral and Coal Mining Business Activities, every foreign mining company must divest its shares at least 51%. Government shares in Freeport Indonesia currently only reach 9.36%. This means that there are still 41.64% of shares that must be released to national parties.
However, Kemaritiman has had its own estimates of Freeport shares despite the imprecision of divestment shares of its subsidiary, Freeport-McMoRan Inc. formally.
Luhut explained that all Freeport Indonesia shares are currently estimated at US $ 8 billion. According to him, it is still as an illustration.
"The problem of divestment obligation is its valuation. That will be the decisive market mechanism. We counted US $ 8 billion. That's the count. "
The estimated value is similar to the projection of ESDM Minister Ignatius Jonan. According to Jonan, the value of all Freeport-McMoRan Inc. shares, the parent company of Freeport Indonesia, currently moves in the range of US $ 20 billion.
At the close of trading on the New York Stock Exchange (NYSE) on Monday (16/10), market capitalization of Freeport-McMoRan worth US $ 22.1 billion. According to Jonan, in the past 5 years-10 years Freeport Indonesia's contribution to Freeport-McMoRan has been around 40%. When referring to it, all of Freeport Indonesia's shares could be worth about US $ 8 billion.
IN INDONESIA
Jangka Waktu Dinegosiasikan
PT Freeport Indonesia menyepakati untuk melepas sahamnya minimal 51%, tetapi hingga saat ini penghitungan dan jangka waktu pelepasan saham masih terus dinegosiasikan dengan pemerintah Indonesia. Saat ini, pemerintah Indonesia telah memiliki 9,36% saham Freeport Indonesia sehingga anak perusahaan Freeport-McMoRan Inc. itu harus melepas 41,64% saham untuk mencapai minimal 51 %.
Menteri Koordinator Bidang Kemaritiman Luhut Binsar Pandjaitan mengatakan bahwa jangka waktu pelepasan saham tersebut
masih terus didiskusikan dengan pihak Freeport. Selain itu, penghitungan nilai saham pun masih dihitung kedua belah pihak.
“Divestasi 51% saham itu tidak menjadi tawar-menawar. Itu sudah hak pemerintah Indonesia. Prosesnya saja mungkin yang kita lakukan berapa lama, apakah selesai 2019 atau 2021,” ujarnya di kantor Kementerian Koordinator Bidang Kemaritiman,
Selasa (17/10).
Sebelumnya, Menteri BUMN Rini Soemarno berharap agar pembahasan divestasi saham Freeport Indonesia bisa diselesaikan pada akhir 2018 atau kuartal I/2019.
“Prioritas divestasi saham Freeport Indonesia memang selesai Desember 2018, tetapi memang sekarang masih dalam pembicaraan terus terutama mengenai metode kalkulasi valuation-nya [penaksiran]. Lalu, apakah sekaligus 2018, apakah 2019, apakah sebagian atau langsung, itu masih difinalkan,” katanya.
Berdasarkan Peraturan Pemerintah Nomor I/2017 tentang Pelaksanaan Kegiatan Usaha Pertambangan Mineral dan Batubara, setiap perusahaan tambang asing wajib mendivestasikan sahamnya minimal 51 %. Saham pemerintah di Freeport Indonesia saat ini baru mencapai 9,36%. Artinya masih ada 41,64% saham yang harus dilepas kepada pihak nasional.
Namun, pihak Kemenko Kemaritiman telah memiliki perkiraan sendiri terhadap saham Freeport kendati belum ada penghitungan nilai saham divestasi anak perusahaan Freeport-McMoRan Inc. secara resmi.
Luhut menjelaskan bahwa seluruh saham Freeport Indonesia saat ini diperkirakan sekitar US$ 8 miliar. Menurutnya, hal tersebut masih sebagai gambaran.
“Yang jadi masalah kewajiban divestasi itu valuation-nya. Itu nanti mekanisme market yang menentukan. Kita menghitungnya US$ 8 miliar. Itu gambaran hitungannya ."
Perkiraan nilai tersebut mirip dengan proyeksi Menteri ESDM Ignasius Jonan. Menurut Jonan, nilai seluruh saham Freeport-McMoRan Inc., induk usaha Freeport Indonesia, saat ini bergerak di kisaran US$ 20 miliar.
Pada penutupan perdagangan di New York Stock Exchange (NYSE) pada Senin (16/10), kapitalisasi pasar Freeport-McMoRan senilai US$ 22,1 miliar. Menurut Jonan, dalam 5 tahun-10 tahun terakhir kontribusi Freeport Indonesia untuk Freeport-McMoRan sekitar 40 %. Apabila mengacu pada hal tersebut, seluruh saham Freeport Indonesia bisa bernilai sekitar US$ 8 miliar.
Bisnis Indonesia, Page-30, Wednesday, October 18, 2017
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