SOEs reluctant to acquire unrelated companies.

Byline: The Jakarta Post, Jakarta

The State-Owned Enterprises Ministry is aiming to reduce the number of state-owned enterprises to 120 from 141 this year by establishing holding companies as well as by asking firms to merge or acquire one another.

However, several state-owned enterprises are lukewarm to the idea of being asked to acquire other smaller, under-performing national firms running completely unrelated businesses. Hesitations aside, one analyst says that the acquisition plans aiming to restructure national companies are risky but practical.

The ministry has asked publicly listed construction company PT Adhi Karya to acquire movie-maker Perum …