Holding AGMS, Nusantara Infrastructure Ready to Become the Largest and Strongest Private Sector on Toll Roads
13 June 2024
Author: Administrator
The four meeting agendas discussed at the AGMS include the Approval of the Company's Annual Report, including the ratification of the Annual Financial Statements and the report on the Implementation of the Board of Commissioners' Supervisory Duties for the 2023 financial year; Approval of the determination of the use of the Company's net profit for the financial year-end of December 31, 2023; Appointment of a Public Accountant to audit the Company's Financial Statements for the financial year ended December 31, 2024; Determination of duties and authorities as well as salaries and allowances for members of the Company's Board of Directors, and salaries or honorariums and allowances for members of the Company's Board of Commissioners for the year 2024.
Indah D.P. Pertiwi, Head of Corporate Communication & CSR of PT Nusantara Infrastructure Tbk said, "In December 2023, the Company successfully paid off all debts for the purchase of 40% of shares of PT Jasamarga Jalanlayang Cikampek (JJC), the manager of the MBZ Flyover, where the Company gained the trust of one of the largest sovereign wealth funds (GIC) in the world to be able to strengthen the capital structure of its subsidiaries in the toll road sector, with a total capital increase of IDR 4.35 trillion. Moreover, the Company's controlling shareholders also invest their capital in the toll road sector subsidiary (MPTIS), which has a positive impact on the exposure of business interest in the toll road sector in Indonesia, and has an impact on the Company to prepare business expansion strategies in the coming years."
Based on the Company's 2023 Financial Statements, the Company recorded a current-year loss of around IDR 235 billion and after being accumulated with the Profit Balance from the previous financial year to 2023, it still recorded a profit balance of IDR 359 billion. The use of net profit is decided by the AGMS by taking into account the interests and plans of the company's business development in the future.
"With the repayment of short-term debt (bridge loan) of IDR 4.03 trillion, the Company from the last corporate acquisition, we believe that the financial condition in 2024 will be much better, supported by a stronger capital structure for the preparation of various larger expansion plans. Management is optimistic that the Company will become the largest and strongest private sector on toll roads." Add Indah.
In addition to the renewable energy sector, clean water management, and business development in the fields of trade, advertising, and parking management, in its largest sector the Company holds the concession of the BSD Toll Road, Serpong-Pondok Aren Section along 7.25 km; Ujung Pandang Toll Road Sections 1-3 with a total length of 10 km; Makassar Toll Road along 11.57 km and Makassar New Port Toll Access Road along 3.2 km; Mohammed Bin Zayed Flyover (MBZ) with a length of 38 km and the Kebon Jeruk-Penjaringan Toll Road (JORR W1) 9.7 km.
