JAKARTA - PT Jakarta Propertindo (Perseroda) is urging the Jakarta Municipal Government to immediately disburse Rp 1.2 trillion in regional equity capital through the Regional House of Representatives.
“To date [Jakpro] has yet to receive equity capital, and it will affect our cashflow until the end of 2020,” Jakpro CFO Yuliantina Wangsawiguna told members of the Regional House Commission B on Monday (29/6) as quoted from Antara.
Currently, the regionally-owned enterprise is working on several projects assigned by the municipal government including the Jakarta International Stadium (JIS) and the revitalisation of the Ismail Marzuki Park (TIM). According to Ms Wangsawiguna, for the time being the company has been financing the projects using commercial funds while negotiating with contractors.
“We ask that the approved Regional Budget be disbursed immediately, because we have been negotiating with our contractors and they can only wait until July 2020,” she pleaded.
The Regional House, said Commission B Chairman for Economic Affairs Abdul Aziz, is still calculating the Regional Budget’s conditions due to the impact of the coronavirus (COVID-19) pandemic.
“We will only finalise it after a decision is reached. We will probably disburse equity capital to Jakpro in October 2020,” the Prosperous Justice Party (PKS) member said. (MS)