“Government to Sell Toll Roads Managed by PT Waskita Karya Tbk to Cover BUMN Debt Burden – CNBC Indonesia”

Jakarta, CNBC Indonesia – A number of toll roads built and managed by PT Waskita Karya Tbk will be sold by the government. The goal is to cover the debt burden in the BUMN balance sheet.

SOE Minister Erick Thohir said, even so, the government would not just sell the toll roads. He ensured that his offer would be adjusted to market conditions.

Since last September 2023, the two toll roads belonging to the issuer codenamed WSKT shares have been handed over to the Indonesia Investment Authority (INA), including Kanci-Pejagan and Pejagan-Pemalang.

“Depending on the market, you may wish, yesterday INA bought some,” said Erick when met at the BUMN Ministry building, Jakarta, quoted on Saturday (27/5/2023).

Erick said that a number of other toll roads were still in the process of being explored. He believes investors are still interested in the divestment offered by Waskita. This is because the domestic macro economy continues to show positive growth.

“We also see partners who believe in the economy in Indonesia which continues to grow,” he said.

The corporate action will be carried out until 2025 which aims to cover Waskita’s debt. This is because infrastructure development is still a burden on the company’s debt.

WSKT did record liabilities, including debt of IDR 84.37 trillion as of 31 March 2023. This amount has increased from the position of 31 December 2022 which was at IDR 83.98 trillion.

Since November last year, there have been five toll roads that have been included in the divestment list. Followed by three toll roads that have released some of their shares over the past year, namely the Cimanggis – Cibitung Toll Road, the Kanci – Pejagan Toll Road, and the Pejagan – Pemalang Toll Road.

Meanwhile, five other toll roads that are still waiting for investors or strategic partnerships until 2025 include the Pemalang – Batang Toll Road, Depok – Antasari Toll Road, Pasuruan – Probolinggo Toll Road, and Bekasi – Cawang – Kampung Melayu Toll Road. Meanwhile, the Krian – Legundi – Bunder – Manyar Toll Road was still at the Waskita Karya study stage.

This BUMN Karya does have shares in a number of toll roads in Indonesia. The toll roads in question include the Kuala Tanjung – Tb Tinggi – Parapat Toll Road with a length of 143 km. Share ownership reached 2.96%.

Next, the Kayu Agung – Palembang – Betung Toll Road with 112 km. Share ownership reaches 99.49%, Bekasi – Cawang – Kp Melayu Toll Road is 16 km long with 71.80% ownership. Cimanggis – Cibitung Toll Road, 25 km 35% share ownership.

Also, Depok – Antasari Toll Road with a length of 22 km, share ownership reaches 18.20%, Bogor – Ciawi – Sukabumi Toll Road with a length of 54 km and 99.99% ownership, Cileunyi – Sumedang – Dawuan Toll Road with a length of 60 km and 16% ownership, Toll Road Gedebage – Tasikmalaya – Cilacap 207 km with 20% ownership.

(were/were)