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Establishment of infrastructure holding increases the chance of obtaining new loans

06 February 2019 07:33 AM  Company: PT. Adhi Karya (Persero) Tbk[ADHI]
Rp. 1,440  +20 (1.41%)

JAKARTA. An officer from the Ministry of Finance believes that the establishment of SOE Holding for construction and infrastructure provides a greater opportunity to obtain new loans.

Director of Management of Government Support and Infrastructure Financing of the Ministry of Finance, Freddy Rickson Saragih, said that the establishment of an infrastructure holding by the Ministry of State-Owned Enterprises (BUMN) was the right step.

He said that in terms of financing, there are two reasons for that. First, relating to leverage or use of assets and loan funds; second, related to financial management.

With the increasing number of companies joining a holding, the value of assets of the holding will increase and the opportunity to get a loan will increase. "In terms of leverage, the establishment of a holding will automatically increase the holding's ability to obtain new loans," Freddy said to Kompas.com, on Monday (4/2).

Then, in terms of financial management, the existence of a holding can increase efficiency and make the company more focused on planning, implementing, and evaluating an infrastructure project.

"Through financing management holding, starting from planning, implementation, evaluation, to refinement, it will be far more focused. Thus, efficiency can certainly be obtained," added Freddy.

Infrastructure Holding will soon be formed and three companies that will synergize in the holding are PT Waskita Karya (Persero) Tbk, PT Adhi Karya (Persero) Tbk, and PT Jasa Marga (Persero) Tbk.

The decision to transfer the shares of the three BUMNs was made at the Extraordinary General Meeting of Shareholders (RUPSLB) of each company in Jakarta, on Friday (1/2), to the holding (PT Hutama Karya), which transferred state-owned Series B shares in each company as a capital deposit to PT Hutama Karya (Persero) or HK. (AM/AR)

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PT. Adhi Karya (Persero) Tbk [ADHI]   Rp. 1,440   +20 (1.41%)