The Salim Group Is Rumored To Be Caploking The Trans Java Toll Road, This Is Jasa Marga's Response

Illustration of Toll Roads (Photo: Antara)

JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) has opened its voice about the news that the Metro Pacific Tollways Corp, owned by the Salim Group, plans to buy a minority stake in PT Jasamarga Transjawa Tol (JTT).

Jasa Marga's Corporate Communication & Community Development Group Head, Lisye Octaviana, admitted that the company is indeed in the process of searching for investors.

However, continued Lisye, his party has not been able to reveal who the potential investors are. This is because there is a confidentiality agreement or non-disclosure agreement (NDA).

"We from Jasa Marga understand that we are in the process. Please also understand that respecting the non-disclosure agreement process and confidentiality agreement in this transaction process. Because this transaction is confidential," he said when met at the Ministry of SOEs Office, Jakarta, Wednesday, March 27.

"So until now Jasa Marga has not been able to provide any updates, even who the potential investors are," he continued.

Even so, Lisye said that when the transaction was completed, Jasa Marga would provide the information.

"There is nothing we can convey until the time for the transaction to be completed, we will update again," he said.

Furthermore, Lisye also said that JSMR would look for partners with strategic roles as well as credible. He said, his party is targeting the asset recycling process to be completed in the first semester of 2024.

"The point is that Jasa Marga will look for strategic and credible partners. Until now the target for the first semester is complete," he said.

For your information, the Metro Pacific Tollways Corp., owned by the Salim Group, is the largest toll road operator in the Philippines that has an affiliation with the Salim Group through its stake in Hong Kong First Pacific.