TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Jasa Marga to pay out dividends, plans bond issuance
Winding road: PT Jasa Marga president director Adityawarman (center) chats with the companyâs directors Abdul Hadi (left) and Reynaldi Hermansjah (right) before a press conference on the annual shareholdersâ general meeting in Jakarta on Tuesday
Change Size
Winding road: PT Jasa Marga president director Adityawarman (center) chats with the companyâs directors Abdul Hadi (left) and Reynaldi Hermansjah (right) before a press conference on the annual shareholdersâ general meeting in Jakarta on Tuesday. The state-owned toll operator booked a 16.6 percent drop â to Rp 1.34 trillion (US$117 million) â in its 2013 net profit. (JP/Nurhayati) (center) chats with the companyâs directors Abdul Hadi (left) and Reynaldi Hermansjah (right) before a press conference on the annual shareholdersâ general meeting in Jakarta on Tuesday. The state-owned toll operator booked a 16.6 percent drop â to Rp 1.34 trillion (US$117 million) â in its 2013 net profit. (JP/Nurhayati)
W
span class="inline inline-none">Winding road: PT Jasa Marga president director Adityawarman (center) chats with the company's directors Abdul Hadi (left) and Reynaldi Hermansjah (right) before a press conference on the annual shareholders' general meeting in Jakarta on Tuesday. The state-owned toll operator booked a 16.6 percent drop ' to Rp 1.34 trillion (US$117 million) ' in its 2013 net profit. (JP/Nurhayati)
State-run toll-road operator PT Jasa Marga (JSMR) announced on Tuesday that it would set aside 40 percent of its 2013 net profits, or Rp 534.53 billion (US$47.67 million), for dividends for its shareholders.
The amount is lower than the dividends for the 2012 fiscal year ' which stood at Rp 640.84 billion ' due to lower earnings posted last year.
Jasa Marga's latest financial report shows that the company recorded a 16.6 percent drop in net profits in 2013 to Rp 1.34 trillion, as its costs outpaced its revenue.
While costs increased 25.2 percent to Rp 7.63 trillion, the firm's revenue only rose 13.5 percent to
Rp 10.29 trillion.
Speaking after its annual general shareholders' meeting, Jasa Marga president director Adityawarman, who goes by one name, said around 58.1 percent of the earnings would be allocated as working capital and the remaining 1.9 percent as mandatory reserves.
The dividend payment is scheduled to take place on April 23.
This year, according to Adityawarman, the publicly listed toll-road operator anticipates a 5 percent increase to 1.32 billion transactions in its overall toll-road transaction volume.
'The growth percentage will vary from one toll route to another,' he said.
'The Greater Jakarta route will remain our most crowded route, and it currently makes up 70 percent of the total transaction volume.'
The higher transaction volume will be backed by the operations of its new toll roads, namely the Nusa Dua-Ngurah Rai-Benoa toll road in Bali and the Kebon Jeruk-Ciledug toll road, which is part of the Jakarta Outer Ring Road West 2 (JORR W2), in Jakarta.
As of now, Jasa Marga and its subsidiaries run more than 12 toll roads in North Sumatra, Jakarta, Banten, West Java, Central Java, East Java and Bali.
It is also looking to complete six more toll roads in 2014, including the JORR W2's Ciledug-Ulujami toll road and the Kedunghalang-Kedung Badak toll road, which is part of the Bogor Ring Road in West Java.
Jasa Marga claims that the Ciledug-Ulujami toll road will ease Jakarta's traffic congestion by 30 percent once it opens in May.
Jasa Marga expects to see its toll-road revenue surge 20 percent to Rp 7 trillion by year-end, supported by the opening of several new toll roads.
Jasa Marga finance director Reynaldi Hermansjah said the company had allocated Rp 5.5 trillion of its internal cash for capital expenditure in 2014.
The company is also set to enter the bonds market, in the fourth quarter of the year at the latest, to generate Rp 1 trillion in funds.
'We have around Rp 700 billion-worth of debt papers that will mature between September and October, and we plan on issuing new bonds to refinance them,' he said.
By December 2013, Jasa Marga reportedly had Rp 28.37 trillion in total assets. Its liabilities amounted to Rp 17.5 trillion, while its equities totaled Rp 10.87 trillion.
Following the results of its shareholders' meeting, Jasa Marga's share price closed at 5,550 apiece on Tuesday, unchanged from the day before.
