PT PII Guarantee Value Increased 16 Percent Last Year By IDR 550 Trillion

President Director of PT PII Wahid Sutopo. (Photo: Doc. Antara)

JAKARTA - PT Penjaminan Infrastruktur Indonesia (PT PII) posted an increase in the value of the guarantee exposure by 16 percent year on year (yoy) in 2022.

President Director of PT PII Wahid Sutopo said the achievement was made out of an investment value of IDR 550 trillion.

"We express our gratitude that the performance in 2022 will show good results with several strategic initiatives that are the main focus," he said in a press statement today, Tuesday, May 23.

According to Wahid, this moncer result also supports net profit growth by recording revenues of IDR 1.08 trillion or growing 18 percent from the previous year.

"In the guarantee business, PT PII expands guarantees to new sectors, including energy conservation, land transportation, and defense equipment," he said.

In addition, the Special Mission Vehicle (SMV) of the Ministry of Finance (Kemenkeu) also directs businesses to guarantee the Government's small scale cooperation with Business Entities (KPBU), and government guarantees for Gen-2 corporate business actors for the 2022 period.

We are committed to continuing to optimize the company's strategic role in accordance with the mandate mandate mandated by the Ministry of Finance, especially in maximizing the KPBU's potential, and supporting sustainable development.

"Infrastructure while still paying attention to good financial performance and can provide the maximum benefit to the community," he stressed.

On the same occasion, the Director General of State Assets of the Ministry of Finance Rionald Silaban asked PT PII to maintain the health of the balance sheet and pay attention to the risk of guarantees through effective risk mitigation and robustness, to increase credibility as a guarantee institution.

"The government directs that it is necessary to strengthen the guarantee ecosystem through optimal synergy with all stakeholders, including through increasing the role of the Indonesia Infrastructure Guarantee Fund (IIGF) Institute," he said.

Sri Mulyani's subordinate also conveyed that PT PII as a fiscal tool for the government could optimize the use of State Capital Apparatus (PMN).

"We must maintain good governance so as to increase the contribution to Indonesia's infrastructure development," said Rionald.

For information, as of December 31, 2022, 49 projects worth IDR 550 trillion were guaranteed by PT PII. Meanwhile, a number of these projects are in the form of 33 PPP projects and 16 non-PPP projects with a guarantee value of IDR 94.6 trillion, consisting of infrastructure project guarantees of IDR 86.8 trillion and non-infrastructure guarantees of IDR 7.8 trillion.

It was stated that this performance showed PT PII's support in encouraging non-APBN/D investment and financing for national infrastructure and credit financing of the PEN Program.