{
    "success": true,
    "data": {
        "id": 1721064,
        "msgid": "ptpp-plans-divestment-in-several-subsidiaries-to-improve-cash-flow-1778054963",
        "date": "2026-05-06 11:14:40",
        "title": "PTPP Plans Divestment in Several Subsidiaries to Improve Cash Flow",
        "author": " ",
        "source": "GALERT",
        "tags": "",
        "topic": "Business",
        "summary": "PT PP (Persero) Tbk is planning to divest shares in several subsidiaries to enhance its cash flow, involving financial and legal advisors to ensure compliance with good corporate governance. The company has clarified that no material information affects share prices or investor decisions amid recent stock volatility, and it will hold a shareholders' meeting on 19 May 2026 to approve the reclassification of 31.62 million Series B shares held by BP BUMN into Series A Dwiwarna shares in line with the State-Owned Enterprises Law. This move underscores efforts by the state-owned construction firm to strengthen its financial position while adhering to regulatory requirements.",
        "content": "<p>PT PP (Persero) Tbk is planning to divest its shareholdings in\nseveral subsidiaries as a step to improve the company\u2019s cash flow. The\nplan was disclosed by management in an explanatory letter to the\nIndonesia Stock Exchange (BEI) regarding the request for clarification\non stock transaction volatility, uploaded to the IDX website on\nWednesday (6\/5). In the disclosure dated 5 May 2026, the company stated\nthat the divestment process will involve financial and legal advisors to\nensure it proceeds in accordance with business principles and good\ncorporate governance. \u201cThe company plans to realise the divestment of\nshareholdings in several company subsidiaries as a step to improve the\ncompany\u2019s cash flow,\u201d wrote management. The company also affirmed that\nit will continue to provide information disclosures related to the\nimplementation of the divestment in accordance with applicable laws and\nregulations. In addition to revealing the divestment plan, the company\nconfirmed that to date, there is no information or material facts that\ncould affect the value of the company\u2019s securities or investors\u2019\ninvestment decisions as regulated by the Financial Services Authority\n(OJK) and BEI regulations. Management also stated that it is unaware of\nany activities by shareholders as regulated in POJK Number\n11\/POJK.04\/2017 regarding ownership reports or any changes in the\nownership of the public company\u2019s shares. In further explanation, the\ncompany disclosed that it will hold a General Meeting of Shareholders\n(GMS) on 19 May 2026 to seek shareholder approval regarding the planned\nadjustment of share classification owned by BP BUMN. Previously, on 9\nJanuary 2026, the company had submitted a disclosure regarding the\ntransfer of 31,619,477 Series B shares from PT Danantara Asset\nManagement (Persero) to BP BUMN. These Series B shares are planned to be\nconverted into Series A shares as part of fulfilling the provisions of\nLaw Number 16 of 2025 on State-Owned Enterprises. The regulation states\nthat the Republic of Indonesia must hold 1% of Series A Dwiwarna shares\nin SOEs through the Head of BP BUMN. The explanatory letter to BEI was\nsigned by Finance Director Agus Purbianto.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ptpp-plans-divestment-in-several-subsidiaries-to-improve-cash-flow-1778054963",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}