JAKARTA. PT Jasa Marga (Persero) Tbk (JSMR) has granted shareholder loan to one of its subsidiaries, PT Jasamarga Kunciran Cengkareng (JKC).

The credit agreement signing took place on December 12, 2023, carried out by JSMR and JKC. According to this agreement, the company allocates a loan of IDR 2.7 trillion to JKC.

Nixon Sitorus, Corporate Secretary of JSMR, mentioned that this facility will be used by JKC to pay off its existing investment credit. “It is so that JKC is not charged with pay-off penalty of 5%,” he said.

According to IDNFinancials data, JKC is a company established in 2008 by JSMR with assistance of other investors. It is designed to manage Kunciran-Cengkareng toll road. JSMR reportedly controls 78.53% of JKC as of September 2023.

JSMR reported cash and cash equivalent of IDR 4.09 trillion until the end of September 2023. Its total assets were recorded at IDR 124.9 trillion, while its total equity was IDR 38.03 trillion. (KR/ZH)