• JKON acquired IDR 5.8T new contracts in 10M24
Jaya Konstruksi Manggala Pratama (JKON) has acquired a new contract worth IDR 5.8T in
10M24. With this achievement, the company is optimistic to increase new contract value by
7% from IDR 6.4T recorded in 2023. Jaya Construction once expressed its confidence that the
new contract growth target could be achieved thanks to government investment in
infrastructure projects. The contracts that have been successfully acquired by JKON include
the Water Treatment Plant (WTP) Construction Work in the Karawang Area, the Construction
of the DSPEC Gading Serpong Tangerang Hospital, the Construction of OIKN Buildings and
Office Areas, as well as the Construction of the IKN Toll Road Section 3B-2: KKT Kariangau –
Sp. Tempadung Segment. Apart from that, there is the construction of the Lamongan North
Ring Road Section I and the construction of the Serang Panimbang Toll Road Section III
(Cileles – Panimbang) Phase 2 Hydrological Management Package. JKON’s business
performance is still projected to continue growing next year, and the company has targeted
construction projects, especially for the construction of buildings and infrastructure.
• TOBA secured SGD 300M funding to acquire Sembcorp Environment
TBS Energi Utama (TOBA) secured banking funding of around SGD 300M for the planned
acquisition of 100% of Sembcorp Environment. Meanwhile, TOBA shareholders have recently
approved the acquisition plan through EGMS. The rest of the acquisition transaction will be
closed with the company’s internal cash. On the other hand, the company did not open the
option to issue bonds to finance the acquisition. As is known, TOBA through its subsidiary
SBT Investment 2 has signed a share purchase agreement or SPA with Sembcorp Industries
as the seller on 8 Nov 24. The acquisition value reaches SGD 405M or around IDR 4.77T,
assuming an exchange rate of IDR 11,800 per SGD. This value is equivalent to 69.33% of TOBA’s
total equity as of 30 Sep, which was recorded at USD 454.85M or equivalent to IDR 6.88T. In
this transaction of material value, TOBA will act as a guarantor for SBT Investment 2 by
providing a company guarantee. This acquisition completes TBS’ previous expansion step,
namely integrating Asia Medical Enviro Services in Singapore and ARAH Environmental
Group in Indonesia. Before acquiring Sembcorp Environment, TOBA, led by Pandu Sjahrir as
Deputy President Director, had already acquired 100% of Asia Medical Enviro Services on 28
Aug 23. (Bisnis Indonesia)
• TOWR will distribute an IDR 300.2B interim dividend
Sarana Menara Nusantara (TOWR) will distribute an interim dividend of IDR 6 per share,
totaling IDR 300.2B. This dividend is distributed based on financial data as of 30 Sep 24 with
a net profit of IDR 2.44T, and an unrestricted retained earnings balance of IDR 18.23T. The
cum dividend date is on 6 Jan 25 and the payment date is on 22 Jan 25. Meanwhile, with
TOWR’s share price closing at IDR 615 per share, TOWR’s dividend yield is 0.97%. (Bisnis
Indonesia)
