PPA Prepares IDR 2 Trillion Funds To Strengthen Capital For Revitalization And Restructuring In 2024

President Director of PT Perusahaan Pengelola Asset, Avianto Istihardjo. (Photo: Doc. PPA)

JAKARTA - PT Perusahaan Pengelola Asset (PPA) plans to prepare funds of IDR 2 trillion for financing and investment in 2024.

The funds will be used for several state-owned companies under the management of PPA in terms of financing and asset management.

President Director of PT Perusahaan Pengelola Asset, Avianto Istihardjo conveyed the purpose of using funds next year for capital needs for the revitalization and restructuring of SOEs and strengthening the medium to long-term capital structure.

"According to the plan in the work proposed next year PPA, the total funding is IDR 2 trillion," he explained to the media crew, Monday, December 11.

Avianto conveyed that PPA also has various sources of funding such as bank loans and issuing commercial securities (SBK).

"We will continue to combine the best funding options from several sources of funding such as banking and we will continue to establish good cooperation with Himbara and private banks as well as bond issuance," he said.

However, Avianto was reluctant to explain in more detail when the bonds were issued and the amount of coupons to be offered.

Avianto said that next year's funding will also be used to meet capital needs for revitalization and restructuring of SOEs.

As for now, there are 15 SOEs that must be restored to health.

"PPA also provides loans and bailout funds for SOEs for restructuring for various needs. So that hopes in the future (BUMN) can be healthier. ( Bonds are issued) next year, some will also be allocated to BUMN, one of which is quite large, namely for PT Persero Batam," he said.

According to Avianto, investment funds for PT Persero Batam will be used for the construction of container port infrastructure facilities in Batam and PPA will channel investments in accordance with the company's business pillars, including through restricturing and revitalization.

"PPA provides loans or bailout funds to SOEs so that they can restructure them for various needs," he explained.

Previously, PPA had provided financing to Garuda and Citilink in the amount of Rp1.1 trillion.

PPA has also acquired Bank Muamalat and Bukopin NPLs of IDR 10 trillion and IDR 1.3 trillion, respectively.