Tinjauan hukum terhadap holding badan usaha milik negara (BUMN) pupuk

POERNOMO, Harry, Prof. Dr. Nindyo Pramono, S.H., M.S

2010 | Tesis | S2 Magister Hukum

Pembentukan perusahaan holding dimaksudkan untuk memudahkan dan meningkatkan fungsi koordinasi, pengawasan dan sinergi dalam suatu grup usaha. Selanjutnya Pemerintah RI membentuk PT Pusri-Holding pada tahun 1997 dengan mengalihkan saham Negara yang ada pada BUMN Pupuk lainnya. Penelitian yang mengkaji tinjauan hukum atas usulan restrukturisasi holding BUMN Pupuk ini mempelajari aspek hukum tentang mekanisme pendirian, pengambilalihan, dan pemisahan perusahaan BUMN sesuai Undang-undang tentang Perseroan Terbatas, Undang-undang BUMN dan Undang-undang Keuangan Negara serta beberapa peraturan pemerintah yang terkait. Metode penelitian yang digunakan adalah penelitian hukum normatif, dengan menelaah data sekunder yang didapatkan dari data kepustakaan, hasil penelitian yang bersifat deskriptif, serta penelitian lapangan untuk mendapatkan data primer. Penelitian ini menunjukan bahwa PT Pusri-Holding yang semula dibentuk dengan maksud dan tujuan terciptanya koordinasi dan sinergi secara korporasi ternyata belum dapat berjalan sesuai yang diharapkan. Permasalahan pokok BUMN Pupuk yang harus dihadapi antara lain kesulitan pasokan bahan baku gas alam dan komersial yang semula diharapkan dapat diatasi oleh holding ternyata belum dapat dilakukan secara optimal. Holding BUMN Pupuk masih berpola sebagai operating holding (management holding) bukan merupakan investment holding, dimana induk perusahaan turut bersaing dengan merangkap juga sebagai pemain (operator) sebagaimana para anak perusahaan holding-nya (subsidiary). Usulan untuk membentuk investment holding dengan mendirikan BUMNBaru prosesnya akan lebih panjang karena dalam pendiriannya harus melalui persetujuan DPR. Usulan untuk membentuk investment holding dengan membentuk Anak Perusahaan-Baru pelaksanaannya hanya melalui mekanisme RUPS, namun hal ini diperhitungkan akan menyisakan banyak permasalahan dan beban pajak yang nilainya relatif besar. Usulan alternatif lain adalah dengan mengalihkan saham PT Pusri-Holding ke PT Pertamina-Holding.

The establishment of the Holding company was initially intended to facilitate and to improve the function of coordination, control and synergy within the business groups. Further, the Government of the Republic of Indonesia formed the PT Pusri Holding in 1997 by taking over the shares of the other BUMNFertilizer (state-owned fertilizer companies). The research studies a legal review on the BUMN-Fertilizer Holding Restructuring Proposal, especially on mechanism of establishment, transfer of shares, and taking over a state owned company under the current prevailing laws and regulations on State Owned Enterprise, Company Limited and State Financial Law. The research method used is normative legal research by studying secondary data obtained from literature, which the result is descriptive. Field study is conducted in order to obtain primary data, as well as to complete the entire data obtained from the literature material. This research indicates that PT Pusri Holding which its establishment was formerly intended to create the corporate coordination and synergy among the group members, has not yet met the expected goals. The main problems of BUMN-Fertilizer in facing the shortage of gas supply and financial as well as commercial matters which was formerly expected to be solved by Holding, has not yet been executed optimally. Pusri-Holding keeps acting as the Operating Holding (Management Holding), and not as an Investment Holding, in which Pusri-Holding is also participating to compete as the business player (operator) together with its subsidiary members. The consideration to form an Investment Holding by establishing a new BUMN will take much longer and complicated process as the establishment of such must get the approval from the DPR (Parliament). Meanwhile, the proposal to designate Pusri to be the Investment Holding by forming a new subsidiary company, can only be done through the RUPS (Shareholders’ Meeting) mechanism, but such an action is thought to leave many problems and a costly taxation problems. Another alternate solution is by transferring the shares of PT Pusri Holding to PT Pertamina Holding to act as a new holding for BUMNFertilizer.

Kata Kunci : Organisasi perusahaan holding, Mekanisme pendirian, Pemisahan, Pengambilalihan perusahaan, Holding Company organization, Laws and Regulations on Mechanism of establishing, transfer of shares, and taking over a state owned company