META Story Proposes Jasa Marga With IDR 4.38 Trillion Dowry For ‘Beautiful Girl’ MBZ Flyover

JAKARTA, KOMPAS.com – The beautiful girl is called “Mohamed Bin Zayed Flyover (MBZ)”. It is called beautiful, because it connects Jakarta and Cikampek as a concentration of national industrial area.

Thus, the average recorded daily traffic (LHR) is around 447,000 vehicles in an integrated manner with the Jakarta-Cikampek Toll Road.

So, not only beautiful, this floating construction toll road along the 38 kilometers is also enshrined as a “hot girl”.

Also from this toll road, PT Nusantara Infrastructure Tbk (META) through the entity PT Marga Utama Nusantara (MUN) set a record for the largest toll road share acquisition transaction in history, with a value of 4 .38 trillion IDR.

META purchased 40 percent shares of PT Jasa Marga (Persero) Tbk in PT Jasamarga Jalan Layang Cikampek, whose Sales Purchase Agreement (SPA) was officially signed on October 10, 2022.

META chief director Ramdani Basri said that before successfully proposing Jasa Marga the ‘beautiful girl’, the approach was quite long, detailed, careful and very complex.

Read also: By not burdening the state’s money, META spreads among the giants

“Proposing to this beautiful girl took a long time, it was complicated, the complexity was high and Jasa Marga was very careful. Although in the end I figured it out too. It’s not easy deal with BUMN. Here, again asked again, is there money or not?

With this proposal, PT Jasa Marga (Persero) Tbk raised new funds of IDR 4.38 trillion as dowry paid by PT Nusantara Infrastructure Tbk (META).

This dowry is transferred in two payment terms. The first is from Rp. 800 billion, and the second is about Rp. 3.580 trillion.

Indeed, the chief director of PT Jasa Marga (Persero) Tbk, Subakti Syukur, admitted that due to the large amount of this money, he “eats the victims” internally.

“Believe it or not. More, pay twice. We have to convince the shareholders with a fairly detailed process. The money is a lot, the money is really there. The money arrived on Monday, with only this interest you can buy a Tegal Sate stall,” Subakti said, laughing.

In his opening video, Minister of Public Works and Public Construction (PUPR) Basuki Hadimuljono stated the presence MBZ overpass can unveil the traffic density of the Jakarta-Cikampek route which is in the most densely populated areas, industrial areas and preferred routes to East Java and Jadebotabek.

Asset laundering in this toll road industry, it really helps to boost all sources including financial resources to be able to build even longer toll roads in other areas.

“Hopefully this activity (stock transaction) will encourage other investors to be interested program success asset laundering in the toll road industry across Indonesia,” Basuki said.

Prinsip Good corporate governance

Ramdani continued, with this inauguration, the whole process the purchase transaction of Jalan Layang MB was fully completed by applying the principlesthe applicable principles of Good Corporate Governance (GCG).

Businesses receive support and the full trust of the stakeholders, so that the whole process can be smoothly on target.

“This corporate action is also a concrete form of cooperation and good synergy between the government and the private sector in accordance with the long-aspired spirit of Indonesia Incorporated, so that with this concrete manifestation the private sector can be more involved in various strategic projects in the sustainable infrastructure sector,” said Ramdani.

Meanwhile for Jasa Marga, the divestment of stake in PT Jasamarga Jalan Layang Cikampek is a continuation of the program asset laundering as part of the corporate strategy to balance the growth and sustainability of the Company’s business and in order to optimize the Company’s business portfolio.

“MBZ flyover has made a good contribution to Jasa Marga in developing other toll roads in Indonesia. The operation of the MBZ flyover, integrated with the Jakarta-Cikampek toll road, also offers optimal benefits in distributing the traffic volume in the Jakarta-Cikampek segment,” Subakti said.

PT Jasamarga Jalan Layang Cikampek is a BUJT managing the MBZ flyover which has been operating since 2019 with concession rights for 45 years (2017-2062).

MBZ flyover extends from Cikunir section to West Karawang which is the route an alternative for long-distance toll road users who also distribute the traffic volume Jakarta-Cikampek toll road.

With the operation of MBZ Expressway in an integrated manner, the potential density of Jakarta-Cikampek route can be distributed effectively and efficiently, resulting in increased traffic flow on this route which is currently the major link for the Jakarta area with the east and vice versa.

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