PII Guarantees Up To IDR 550 Trillion To 49 Projects In 2022

Investment illustration (Photo: Doc. Antara)

JAKARTA - PT Penjaminan Infrastruktur Indonesia (Persero) or PT PII provides guarantees to 49 projects with an investment value of up to IDR 550 trillion throughout 2022.

Meanwhile, the increase in the value of the guarantee exposure was 16 percent.

In addition, PT PII was able to maintain revenue performance and encourage net profit growth in 2022 by recording revenues of IDR 1.09 trillion, up 18 percent from the previous year.

"Throughout 2022, PT PII has several strategic initiatives that are the main focus, one of which is in the guarantee business," said PT PII President Director Wahid Sutopo quoting Antara, Tuesday, May 23.

In this business, he continued, PT PII expands guarantees to new sectors, including energy conservation, land transportation, and defense equipment. PT PII's focus is also directed at small-scale guarantees of Government Cooperation with Business Entities (KPBU) and government guarantees for Business Actors of the 2022 Gen-2 Corporate.

As of December 31, 2022, 49 projects worth IDR 550 trillion were guaranteed by PT PII in the form of 33 KPBU projects and 16 non-KPBU projects.

The guarantee value of the project was recorded at Rp. 94.6 trillion, consisting of guarantees for infrastructure projects of Rp. 86.8 trillion and non-infrastructure guarantees of Rp. 7.8 trillion.

According to Sutopo, this performance shows PT PII's support in encouraging investment and non-APBN/D financing for national infrastructure and credit financing for the national economic recovery program (PEN).

With directions from shareholders and stakeholders, the company is committed to continuing to optimize the company's strategic role in accordance with the mandate mandate mandated by the Ministry of Finance (Kemenkeu).

The strategic role is in particular in maximizing the potential of KPBU and supporting the sustainability of infrastructure development, while still paying attention to good financial performance and being able to provide the maximum benefit to the community.

On the same occasion, the Director General of State Assets (DJKN) of the Ministry of Finance Rionald Silaban expressed his appreciation to the Board of Directors and Board of Commissioners of PT PII for the achievement of performance in 2022 and for the compliance of the company in submitting performance reports in the GMS, as well as appreciating the supervision that has been carried out by the Board of Commissioners.

"We hope that PT PII can maintain balance sheet health and pay attention to the risk of guarantees through effective and solid risk mitigation to increase credibility as a guarantee institution," Rionald said quoting Antara.

In addition, he said PT PII needs to strengthen the guarantee ecosystem through optimal synergy with all stakeholders, including through increasing the role of the Indonesia Infrastructure Guarantee Fund (IIGF) Institute.