KAI Complains About MRT Acquisition Of Indonesian Commuter Trains: This Will Be Difficult, Cash Flow Will Be Boncos

JAKARTA - PT Kereta Api Indonesia (KAI) hopes that the plan to acquire shares in PT Kereta Commuter Indonesia (KCI) by PT Mass Rapid Transit (MRT) Jakarta will not harm the company's finances. Moreover, the railway industry is currently sluggish due to the COVID-19 pandemic.

KAI Finance Director Salusra Wijaya admits that it is not easy, especially from the financial side, having to lose the budget allocation for public service obligations (PSO) from the government or the Ministry of Transportation if its subsidiary PT Kereta Commuter Indonesia (KCI) is acquired by PT MRT Jakarta (Perseroda).

"This strategic implementation will be very difficult. This has not just happened, there are several things from the financial side we have to plan and think about. If this happens, PSO will disappear from KAI, this is hard for us," he said, in a Railway Workers Union webinar entitled 'Integration or Acquisition', Jakarta, Wednesday, January 20.

In addition, Salusra said, fixed costs for maintenance and maintenance of railway facilities and infrastructure are quite high. He said, KAI's cash flow would be severely disrupted. This is because the largest allocation from the PSO trains is for urban trains or commuter trains.

"The effects on finance are many. What we are afraid of is integration but the service has not changed," he said.

Salusra said that his party must be careful in implementing these corporate actions so that the main vision of creating integrated transportation modes in the Jabodetabek area can be achieved.

"Don't let this transaction weaken KAI," he said.

Meanwhile, in terms of legal basis, Salusra explained, in the direction of a limited meeting on January 8, 2019, the manager of transportation modes in Jabodetabek was handed over to the DKI Jakarta Provincial Government because it has a large budget. Here it is emphasized that you can, not you have to.

Then the Ministry of BUMN to give a majority stake in KCI to the DKI Provincial Government or by forming a joint venture between PT KAI and the DKI Provincial Government regarding station management.

"Without a strong legal foundation, without a review of the PSO framework and a clear business model, this strategic implementation will be very difficult," he explained.