STATE OWNED ENTERPRISES AND STATE FINANCE

Ahmad Fauzi

Abstract


State financial losses when associated with the cases of corruption in State-Owned Enterprises (SOE) had been an immense problem. The financial loss of a SOE could be considered as state loss by using an assessment of state losses, as stipulated in the State Treasury Act, which might cause some SOE managers might be accused as corruptors. Even though not all SOE losses were caused by corrupt act, but could also be caused by miss management acts or purely business loss. The doctrine of the business judgment rule and the management principles, the SOE in the form of limited liability company, should be run based on the principle of management of limited liability company, then consideration of the doctrine must be given to the law enforcement in SOE cases. The policies that equate SOE finance matter with the State finances will pose a risk to the development of SOE. The SOE will not be free to pursue the company goals to achieve maximum profits as mandated by the State-Owned Enterprise Act.

Keyword: State Owned Company, State Financial


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References


Law Number 19 of 2003 concerning State-Owned Enterprises

Law Number 40 of 2007 concerning Limited Liability Companies

Law Number 17 of 2003 concerning State Finance

Law Number 1 Year 2004 concerning State Treasury

Government Regulation Number 44 of 2005 concerning Procedures for Participation and Administration of State Capital in State-Owned Enterprises and Limited Liability Companies states: Every participation and addition of state capital participation whose funds come from the APBN.

Minister of Finance Regulation Number 96 / PMK.06 / 2007 concerning Procedures for Implementation of Utilization, Transfer of State Property.

Fatwa through his letter dated August 16, 2006 Number WKMA / Yud / 20 / VIII / 2006 states that government capital participation in state-owned enterprises is state wealth separated from management and accountability mechanisms of the state budget, but subsequently based on the principles of sound corporate management in the UUPT regulation.


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