JAKARTA. PT Jasamarga Transjawa Tol (JTT) has granted shareholder loan to PT Jasamarga Jalanlayang Cikampek (JJC) worth IDR 160 billion.

Said loan facility is given as JCC can no longer accept new loans, unless subordinated shareholder loan under syndicate agreement. For the record, JCC and JTT are companies affiliated with each other due to its shared controller, PT Jasa Marga (Persero) Tbk (JSMR).

“This transaction is carried out in order to cover operational costs and cash deficiency support,” the management of JSMR added in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, JJC is a company under JSMR, through JTT’s ownership, with stock portion of 40%. The initial statement of JCC was valued at IDR 1.83 trillion as of September 30, 2023.

However, for the record, JJC recorded loss of IDR 127.73 billion within the first nine months (9M) of 2023. (KR/ZH)