PT Adhi Karya (Persero) Tbk (ADHI) is continuing its programme of\nrestructuring and streamlining its investment portfolio and subsidiaries\nto refocus on its core construction business. The implementation of this\nprogramme was realised through the signing of two Conditional Share\nPurchase Agreements (CSPA) on Wednesday (30\/09) at the ADHI Office,\nJakarta, regarding the planned divestment of ADHI\u2019s shares in PT\nJasamarga Jogja Solo (JMJ) and PT Dumai Tirta Persada (DTP).<\/p>\n
The signing of these two CSPAs represents a significant milestone in\neach divestment plan, marking the achievement of agreement between the\nparties regarding the framework, terms, and conditions set out in the\nagreements. This step is aimed at increasing the Company\u2019s focus on its\ncore business of construction, optimising the composition of its\nbusiness portfolio as well as the value of the Company\u2019s assets and\ninvestments, in line with its transformation strategy and the\nstrengthening of company fundamentals, while supporting the\nstrengthening of the Company\u2019s financial structure and liquidity.<\/p>\n
The CSPA signing was conducted with PT Sarana Multi Infrastruktur\n(Persero) (SMI) as part of the planned divestment of ADHI\u2019s 47.18% stake\nin PT Jasamarga Jogja Solo (JMJ).<\/p>\n
The event was attended by the Director of Financing and Investment of\nSMI, the President Director of ADHI, and the Board of Directors from\nboth parties. The synergy with SMI is also expected to support the\nsustainable management and development of JMJ as part of the toll road\ninfrastructure ecosystem in Indonesia. On the same day, ADHI also signed\na CSPA with PT Futura Energi Global Tbk (FUTR) regarding the planned\ndivestment of ADHI\u2019s 51% stake in PT Dumai Tirta Persada (DTP), a\ncompany involved in the provision and management of drinking water\nsupply systems in Dumai City, Riau Province, through a Public-Private\nPartnership (PPP) scheme. The signing was attended by the President\nDirector of FUTR, the President Director of PT Aurora Dhana Nusantara as\na shareholder of FUTR, the President Director of ADHI, and the Board of\nDirectors from both parties.<\/p>\n
\u201cThis strategic step aims to organise and streamline our investment\nportfolio and subsidiaries, while simultaneously strengthening ADHI\u2019s\nfocus to return to the company\u2019s core business of engineering and\nconstruction. We ensure that the entire process is carried out in a\nmeasurable manner and in accordance with the principles of good\ncorporate governance. Moving forward, ADHI will continue to strengthen\nits role as a national construction company and contribute to supporting\nIndonesia\u2019s infrastructure development,\u201d said ADHI Corporate Secretary,\nSiswando.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/adhi-karya-streamlining-two-subsidiaries-bca-securities-1790967032", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }