Indonesia: Brewer PT Delta Djakarta denies report on Jakarta administration acquiring additional shares in it

Beer firm PT Delta Djakarta has denied a report that the Jakarta administration has acquired additional shares in the company, the Jakarta Post reported on March 2.

"Since the beginning, the Jakarta administration’s share in PT Delta Djakarta has been unchanged at 26.25 percent. There has been no increase,” Delta Djakarta president commissioner Sarman Simanjorang said as quoted by kompas.com on March 1.

The Indonesia Stock Exchange said on Feb. 25 in a report that the administration's shares in the company had risen by nearly 3 percent, from 23.33 percent to 26.25 percent.

Delta Djakarta produces various brands of beer, such as Anker, Carlsberg and San Miguel.

According to Sarman, the IDX report, which highlighted the apparent increase in the administration's shares, was the result of a merger between the administration and another shareholding unit owned by the administration, Equity Investment and Management Board (BP-IPM Jaya).

The administration controls 23.34 percent shares, while BP-IPM Jaya 2.91 percent.

Following BP-IPM Jaya’s dissolution, the shares automatically went to the administration.

During the 2017 gubernatorial election campaign period, Jakarta Governor Anies promised to sell the city’s stake in the beer company, citing that its ownership in the company did not contribute to the livelihood of Jakartans.

Anies also said the company's profits were insignificant.

03 March, 2019