6 Comments on “Partial Privatization & IPO’s”

1. Purba Negoro Says:
   September 24th, 2008 at 3:39 pm

   Callum,
   it’s an excellent compromise situation and the very best the parasitic Fund Managers will ever get, that is the few solvent and non-bankrupt ones left- so you’d better learn to like majority government shareholding.

   I spoke with the investment head of FORTIS Indonesia on Saturday- and he seemed rather chuffed about it. Enthusiastic would be more accurate.

   It’s the way of the future- sovereign capitalism as per Russia and China- but I don’t hear such teeth-gnashing protestations about Temasek.
   Also- China only allows 50% foreign ownership- but no complaint about that either.

   You seem to completely reject the reality that majority privatisation is Unconstitutional as per the unalterable 1945 Constitution.
   Sukarno was a brilliant man- he knew exactly the character of the West and their Semitic funders. Why involve Jews you ask? Well Soros is only one name among many, for starters.

   So you’re welcome to lament the sky not being green- but it will never change it from being blue.
   Government interests are the Interests of the State and the Rakyat, which would place Western capitalist interests as counter to those- hence being Enemies of the Rakyat and State

   Gazprom and French National Rail are excellent examples of the total baseless and ridiculous premise of your arguments government cannot run business.

   Speaking of privatisation- didn’t the UK have to re-Nationalize rail due to private sector funny business and fatalities caused therein?

   What is the service of former British Rail like? Frequent derailings? Frequent maintainance issues? Frequent delays?

   And how are utility prices in the West- excluding the financial collapse and subsequent maelstrom caused by Enron- higher than ever and continually ascending despite constant assertions everything would vastly cheaper in this brave new world of competition?

   Why won’t the UK or France ever trust private ownership of the nuclear facilities?

   Sorry Callum- a very poor and transparent argument easily countered by piles of contrary evidence. You’ll have to learn to love skyblue, I’m sorry.

2. sputjam Says:
   September 25th, 2008 at 9:41 am

   a) Correction – all the state owned companies 30% are being sold at the wrong time. Steel prices are expected to free fall soon, based on falling prices of scrap ships in India/bangladesh.

   b) never invest in companies whereby majority held by one entity, whether private or government. Invest in companies which are held by several entities, with neither holding majority.

3. sputjam Says:
   September 25th, 2008 at 9:44 am

   January 2009, ASEAN open sky policy commence, hence no regional interest to buy garuda as these players can fly to and from any indonesian airports as they wish as long as the airlines are based in ASEAN.

4. Enigmatic Says:
   September 25th, 2008 at 11:12 pm

   sputjam Says:

   September 25th, 2008 at 9:44 am
   January 2009, ASEAN open sky policy commence, hence no regional interest to buy garuda as these players can fly to and from any indonesian airports as they wish as long as the airlines are based in ASEAN.

   Guess that means the end of Garuda Indonesia then. Heh.

   Then again I’ve always taken budget airlines like Valuair and lionair between JKT and SGP.

5. sputjam Says:
   September 26th, 2008 at 10:23 am

   Plus the fiskal policy, which discourages Indonesian to travel abroad, will definitely kill Garuda, which obtain its revenue from overseas flights.l

6. Purba Negoro Says:
   September 27th, 2008 at 12:12 am

   Sputjam,

   Departure Tax is one of the few taxes the government receives. It is entirely means-tested – those that can afford the luxury of overseas travel can obviously afford to pay Pajak.

   It’s less than $50 USD- most people spend that within their first hour of arrival.

   I knew very well the Dir Gen MenPajak that created this brilliant taxation scheme. A school friend of my father’s.
   A truly wonderful man, an exceptionally brave and heroic Patriot guerilla and an educated man of infinite wisdom.

   He calculated departure tax specifically as only those with means were burdened, but most specifically that especially the Chinese could not worm their way out of paying their fair tax burden.

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