<![CDATA[BUMN or state-owned enterprises (SOEs), as one of the country`s economic pillars beside private companies and cooperatives, are playing an increasingly significant role in national economic development through their upward performance and financial contributions to the state. Besides, stateowned firms in 2010 is also made indirect contributions to national development in the form of capital expenditure worth IDR 197 trillion and operational expenditure valued at IDR 932 trillion. Therefore, to increase their contribution to national development, their capital expenditure would be further pushed up in which the BUMN is ready to push state firm to increase their capital expenditure to the level of IDR 380 trillion in the next 4 years. PT. Garuda as one of the good BUMN was be privatizied by government in January 2011 which caused the controversial issues due to the did not clear of the sale its share, particularly the price that based on IPO scheme. This paper aims to investigate the performance of Garuda, and the scheme their assets, whether based on legal price regulation or not.]]>
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