State-owned enterprises (SOEs) in Indonesia are governed by Law 19/2003. Pursuant to Article 93 of this Law, as of June 19 2005 there will only be two forms of state-owned enterprises: SOEs in the form of a limited liability company, known as persero, and SOEs in the form of a general company, known as perum. The Article requires that all utility companies, or perjan, must be transformed into persero or perum by this date.
March 01 2006