DEPOK (eNBe Indonesia) - Fellow toll road developer and operator PT Nusantara Infrastructure (META) Tbk, which is controlled by MPIC (Salim Group), is also worth Rp2 trillion only, way below equity (Rp3.35 trillion).
Recent acquisition of substantial shares in some lucrative toll roads yet to lift the stock, probably because META recorded net loss of Rp110.5 billion in the first half against net profit of Rp35.4 billion in the same period last year.
Prospect is there, of course, because the toll road assets might generate more profit in the coming years, while the company continues to expand network.
The Ministry of Public Works and Public Housing (PUPR) revealed that the construction process for the Jakarta Outer Ring Road (JORR) Elevated Cikunir-Ulujami Toll Road will be carried out in 2024.
The JORR Elevated Cikunir-Ulujami Toll Road is part of the Jabodetabek Toll Road network, where this toll road will later be built on top of the existing JORR Toll Road.
This project, with investment value of Rp21.26 trillion, stretches for 21.50 kilometers with the starting point located in Jatiasih and the ending point located at the Ulujami Interchange.
This toll road will be worked on by the consortium of PT Marga Metro Nusantara, Adhi Karya (ADHI), and Acset Indonesia (ACST).
Marga Metro Nusantara is a subsidiary of Nusantara Infrastructure (META). ACST is a construction company belonging to the Astra Group.
META suffered loss of Rp133.66 billion in H1 this year, against Rp59.8 billion profit in H1 last year, due to a 209% jump in financial cost, to Rp251.6 billion.
While revenue and sales jumped 114% y/y to Rp851 billion. Toll road management services contributed Rp704.6 billion revenue, energy segment contributed Rp101 billion, and water supply segment contributed Rp44.57 billion.***
