CMNP to take equity stakes in tree projects<\/p>\n
JAKARTA (JP): The shareholders of publicly-listed toll road
\ndeveloper PT Citra Marga Nusaphala Persada (CMNP) yesterday
\napproved the company's plan for equity participation in three
\nprojects.<\/p>\n
A director of the company, Teddy Kharsadi, told reporters that
\nCitra Marga Marga's equity stakes in each of the three projects
\n-- Citra Manila Tollways Corporation in the Philippines, Simpang
\nSusun Waru-Tanjung Perak Surabaya outer ring road in East Java
\nand a triple-decker which will link south Jakarta to North
\nJakarta -- will reach 19 percent.<\/p>\n
\"The planned equity in the Citra Manila project will be US$102
\nmillion, the Surabaya outer ring road Rp 1.1 trillion ($476
\nmillion) and the triple-decker Rp 3.5 trillion,\" he said.<\/p>\n
Teddy said Citra Marga will join with the state-owned toll
\nroad developer PT Jasa Marga in the construction of the 36-
\nkilometer toll road in Surabaya which will link the Tanjung Perak
\nport with the Simpang Susun Waru interchange.<\/p>\n
\"We were appointed by the government to take part in the
\ntriple-decker project,\" he said.<\/p>\n
He added that Citra Marga has studied another toll road
\nproject in West Java.<\/p>\n
\"But we finally decided not to take part in the 114-kilometer
\ntoll road project between Sadang and Palimanan in West Java
\nbecause the project is not in line with our strategy,\" said
\nTeddy.<\/p>\n
The company's director of finance, Tito Sulistio, said that
\nlast year the company's (unaudited) net profit increased by 58
\npercent to Rp 92 billion.<\/p>\n
He added that the management also plans to distribute one
\nbonus share for one old share instead of distributing dividends
\nif the general shareholders' meeting in April approves. (08)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/cmnp-to-take-equity-stakes-in-tree-projects-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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