Jasa Marga Releases 40 Percent Of MBZ Elevated Toll Road Managers To Anthony Salim Conglomerate Business Network

Sheikh Mohamed Bin Zayed Elevated Highway (MBZ). (Photo: Doc. Antara)

JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) has begun to release several toll road assets. One of them is through the divestment of shares in PT Jasamarga Jalanlayang Cikampek (JJC), which is a subsidiary of Jasa Marga that manages the Sheikh Mohamed Bin Zayed (MBZ) Flyway.

This step is the company's effort to optimize the company's business portfolio. According to Jasa Marga's Corporate Communication and Community Development Group Head Lisye Octaviana, Jasa Marga has resumed the asset recycling program as part of the corporate strategy to balance the company's business growth and sustainability.

Lisye added that the divestment of 40 percent of the total 80 percent of Jasa Marga's shares to PT Margautama Nusantara (MUN) is currently entering the stage of signing the Conditional Sale and Purchase Agreement of Shares (CSPA) on Thursday, June 30.

“Completion of the transaction will still depend on the fulfillment of several preliminary requirements as stipulated in the CSPA. We hope that the entire transaction process can be carried out smoothly according to the target, of course by always applying the principles of Good Corporate Governance (GCG) at every stage, until the signing of the SPA as planned, "said Lisye in a statement, quoted on Tuesday, July 5.

For information, MUN is a subsidiary of PT Nusantara Infrastructure Tbk (META). The company is owned by Metro Pacific Tollways Corporation (MPTC).

MPTC is part of Metro Pacific Investment Corp (MPIC) which is affiliated with First Pacific Company Limited, a Hong Kong-based company whose 44.3 shares are owned by conglomerate Anthony Salim.

The signing of the CSPA is the first step and a form of commitment to strategic cooperation between Jasa Marga and MUN in the management of the MBZ Flyover, through PT JJC as the toll road business entity that manages it.

The MBZ Flyover which is managed by PT JJC has an important role in the Trans Java Toll Road network as the main connecting route for the Jabotabek area to the east. The operation of this toll road has a positive impact on the smooth running of the Jakarta-Cikampek route.

With the increase in the capacity of the toll road, there is a decrease in the V/C Ratio which affects the average speed increase from the Cikunir Interchange to West Karawang.