JAKARTA – PT Jasa Marga (Persero) Tbk (JSMR) has divested 99.99% of its shares in its subsidiary, PT Jalantol Lingkarluar Jakarta, the operator of the Jakarta Outer Ring Road (JORR).

The decision to divest the shares was made at an Extraordinary General Meeting of Shareholders (EGMS) held on May 8, 2024. In the meeting, shareholders agreed to dissolve PT Jalantol Lingkarluar Jakarta through a liquidation mechanism.

As a follow-up to the decision, shareholders signed a circular resolution on Monday, February 24, 2025, which confirmed their approval of the liquidator’s accountability report and the distribution of the company's remaining assets.

"The remaining assets amounting to IDR 19.25 billion will be distributed to shareholders in accordance with their ownership proportion," said Ari Wibowo, Corporate Secretary and Chief Administration Officer of JSMR, in a disclosure to the Indonesia Stock Exchange (IDX), Tuesday (25/2).

Ari added that this move was taken to stop the ongoing losses faced by PT Jalantol Lingkarluar Jakarta.

"With this decision, Jasa Marga can focus more on its core business and other strategic projects in the toll road industry," he said. (DK/KR/ZH/VA)