Strengthening Portfolio Assets, Jasa Marga Now Fully Controls The Solo 'Jogja Toll Road BUJT

PT Jasa Marga (Persero) fully controls the Solo 'Jogja Toll Road BUJT. (Photo: Doc. Jasa Marga)

JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) has completed an addendum to the Shareholders Agreement (SHA) with PT Adhi Karya (Persero) Tbk at PT Jasamarga Jogja Solo (PT JMJ).

It is known, PT JMJ is a Toll Road Business Entity (BUJT) for the Yogyakarta 'NYIA Kulonprogo Toll Road.

The addendum of the agreement changed control at JMJ from previously joint control between Jasa Marga as a shareholder with a portion of 52.82 percent and PT Adhi Karya (Persero) Tbk with a share portion of 47.18 percent, to a single control at Jasa Marga.

So that the control of PT JMJ's operational and financial affairs is now fully under Jasa Marga.

Jasa Marga President Director Rivan Achmad Purwantono emphasized that the agreement addendum did not change the composition of the share ownership of the parties, but only limited to changing the SHA provisions which were originally joint control to single control at Jasa Marga.

"Thus, Jasa Marga can immediately implement policies to improve comfort, security and efficiency of toll road users in the Solo 'Yogyakarta' YIA Kulonprogo area and other toll roads under the company," Rivan said as quoted from his official statement, Friday, July 25.

Rivan assessed that this step strengthens Jasa Marga's position in realizing an integrated and reliable toll road network.

"The full control of PT JMJ allows us to accelerate the implementation of safety, service and consistent maintenance standards throughout the Trans Java network," he said.

With this change in control, Jasa Marga now has full rights in establishing operational policies, investments and business directions of PT JMJ, as well as ensuring the alignment of quality standards and efficiency with other toll roads under Jasa Marga management.

"PT JMJ will become an integral part of Jasa Marga's financial report, in line with the company's accounting consolidation practice, without causing transactions on the value of the share purchase because changes are regulated through the agreement addendum," said Rivan.

Adapun Jalan tol Solo–Yogyakarta–NYIA Kulonprogo yang dikelola oleh PT JMJ terhubung langsung dengan jaringan tol Trans Jawa milik Jasa Marga Group.

Sebagai bagian dari strategi perusahaan untuk memperkuat portofolio aset utama, menyatukan pengelolaan ruas tol, serta menstandarkan kualitas layanan mulai dari operasi dan pemeliharaan hingga fasilitas rest area, Jasa Marga memandang perlu untuk mengambil kendali penuh atas PT JMJ.

The Solo 'Yogyakarta' toll road, YIA Kulonprogo, managed by PT JMJ, is directly connected to Jasa Marga Group's Trans Java toll road network.

As part of the company's strategy to strengthen the main asset portfolio, unite toll road management, and standardize service quality ranging from operations and maintenance to rest area facilities, Jasa Marga considers it necessary to take full control of PT JMJ.