Jasa Marga's Launched DINFRA Funding-Scheme Breakthrough
BALI, Indonesia, Oct. 15, 2018 /PRNewswire/ -- PT Jasa Marga (Persero) Tbk is back with a funding scheme innovation for the fifth time, continuing the previous, and becoming the first State-Owned Enterprise (SOEs) to issue an Infrastructure Investment Fund or Dana Investasi Infrastruktur (DINFRA).
Jasa Marga President Director Desi Arryani (from right) on a discussion with Bank Mandiri President Director Kartika Wirjoatmodjo, and OJK Executive Head of Capital Market Hoesen - after the launching of DINFRA, during International Monetary Fund-World Bank Group Annual Meetings 2018, Thursday October 11 in Bali.
DINFRA is the capital market product in the form of Collective Investment Contracts. This is in accordance with the Financial Services Authority Regulation (POJK) No. 52/POJK.04/2017 On July 19, 2017. DINFRA collects funds from the investors for infrastructure-assets investments, which not only supports the Government's program, but also benefits the community as a whole, toll road is one of them.
It was officially launched during the 2018 International Monetary Fund-World Bank Group Annual Meeting (IMF-WBG AM 2018) on Thursday, October 11 in Bali. DINFRA provides more flexibility in seeking funds through equity and debt in only one transaction, and therefore results in a faster funding in terms of both asset recycling and debt recycling.
"This is the next level of the Company's funding scheme innovation, after previously only issuing either only equity or debt. This time, Jasa Marga combines the two," Desi Arryani CEO of Jasa Marga, explained.
Desi also added that Jasa Marga can either make a public or private offering of DINFRA which would therefore expand potential investors.
Jasa Marga's premier DINFRA was issued by PT Jasamarga Pandaan Tol, a subsidiary which operates the 13.6-km Gempol-Pandaan Toll Road. The DINFRA issuance is targeted to obtain funds of up to Rp 1.5 trillion to strengthen the capital structure of Jasa Marga's Toll Road projects.
"This new funding scheme will hopefully be an alternative on the subsidiary level so that Jasa Marga will continue on maintaining the Company's performance amidst the massive toll road developments in order to support national connectivity," Desi added.
Last but not the least, Desi expressed her very deep appreciation for the support of everyone involved, particularly the Investors, Financial Services Authority (OJK), Ministry of SOEs, Ministry of Public Works and Housing (PUPR), Ministry of Finance and Indonesia Stock Exchange (BEI).
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