JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) can immediately execute asset securitisation plan. The plan has received an effective permit from the Financial Services Authority (OJK) regarding the issuance of three funding instruments in the infrastructure sector.
"Yes, this is related to our asset securitisation plan," Dessy Aryani, President Director of JSMR said in Jakarta.
Through securitisation of these assets, Jasamarga will get fresh funds amounting to Rp 2 trillion. According to the plan, the toll road operator will use the Jakarta-Bogor-Ciawi (Jagorawi) toll road as a securitised asset. The proceeds will be re-used by Jasamarga for other toll road expansion capital. This year, the company plans to add six new toll roads along 210 kilometers (km). The company allocates capex up to Rp 31 trillion to smooth the expansion process.
The asset securitisation will be used under the Asset Backed Securities Collective Investment Contract (KIK-EBA). So, in the near future the company will create a public expose. "For launching KIK-EBA, we have not set the time yet," he said.
Jasamarga is also exploring the plan to issue global bonds denominated in Rupiah. The target is around US$ 200 million - US$ 300 million, or around Rp 4 trillion. Jasamarga targets to raise around Rp 8 trillion for long-term needs. Until first semester of 2011, the company's revenue grew 95.2% year on year (yoy) to Rp 13.1 trillion. Then, its profit grew 9.8% to Rp 1.01 trillion. (EFF)