- JSMR approved for JTT divestment worth IDR 12.82T
Jasa Marga (JSMR) has gained approval through EGMS to divest its share in Jasamarga Transjawa Tol (JTT) with a transaction value of IDR 12.82T. Based on the EGMS decision, shareholders approved this corporate action by transferring 30.18% of shares in JTT worth IDR 12.82T to Metro Pacific Tollways Indonesia Services (MPTIS), Warrington Investment, and Margautama Nusantara. Apart from that, the meeting also approved changes to the capital structure at JTT due to the issuance of new shares worth IDR 2.5T, all of which were taken up by MPTIS. This corporate action resulted in JSMR’s ownership in JTT being diluted by 3.82%. However, the company still holds 65% of JTT’s shares and remains as the majority shareholder. The funding strategy is carried out to obtain new sources of equity funds, which in the short term will be used to optimize the level of the company’s capital structure and gearing ratio. (Bisnis Indonesia) - SMRA achieves IDR 5.67T revenue in 1H24
Summarecon Agung (SMRA) revenue rose 89.56% yoy to IDR 5.67T. In detail, most of the revenue came from the property development segment amounting to IDR 4.17T, followed by investment property of IDR 1.05T and others of IDR 444.01B. In line, net profit rose to IDR 753.68B in 1H24 (+70.5% yoy). (Kontan)