JAKARTA. In order to meet the housing demand in Indonesia, the government is immediately preparing PT Bank Tabungan Negara (Persero) Tbk (BBTN) to conduct a rights issue, according to the initial plan, in 2022.
The Minister of State-Owned Enterprises (BUMN), Erick Thohir, said that through this rights issue, the government hoped that BBTN’s capital adequacy ratio (CAR) could gain more strength to support the housing credits for the people.
During his meeting with the Commission VI of the House of Representatives (DPR) last week, Thohir said that the government’s choice in the capital market to raise funds is intended to help BTN fulfil the required financing without putting more burden on the State Budget deficit.
“We are trying hard not to place a constant burden on the government as the deficit in the State Budget has exceeded 3%. In the future, it has to go back to 3%,” Thohir stated. (AM/ZH)