State-owned Jasa Marga's debts reach Rp 1 trillion<\/p>\n
JAKARTA (JP): State-owned toll road operator PT Jasa Marga's
\ndebts reached a total of Rp 1 trillion (US$424 million) in
\nfiscal year 1995\/1996, said a senior official.<\/p>\n
Minister of Public Works Radinal Moochtar said last week Jasa
\nMarga's debts were the largest among the state firms overseen by
\nhis ministry.<\/p>\n
He said in a hearing with the House Budgetary Commission that
\ntotal debts of the 19 state companies under his ministry amounted
\nto Rp 3.12 trillion at the end of fiscal year 1995\/1996 last
\nMarch.<\/p>\n
Their pretax profits amounted to Rp 401.5 billion in the same
\nperiod, he said, adding that their total assets were Rp 7.1
\ntrillion.<\/p>\n
With a Rp 1 trillion debt, Jasa Marga stood as the largest
\nborrower, but it gained the largest profit of Rp 265 billion.<\/p>\n
\"All the company's debts came from domestic creditors,\" he
\nsaid.<\/p>\n
Jasa Marga's revenues amounted to Rp 445 billion in 1995\/1996,
\nwith total assets of Rp 1.7 trillion. The total revenues of the
\n19 companies overseen by the ministry were Rp 3.7 trillion.<\/p>\n
Jasa Marga recently announced its plan to sell a portion of
\nits shares to the public later this year.<\/p>\n
Company president Maryadi Darmokumoro estimated between 25
\npercent to 35 percent of its shares would be sold to the public.
\nThe proceeds would be used to finance the development of a 350-
\nkilometer toll road worth Rp 7 trillion in the next five years.<\/p>\n
Radinal said PT Pembangunan Perumahan followed Jasa Marga as
\nthe second largest borrower among the companies under the
\nsupervision of his ministry, with debts totaling Rp 442 billion.
\nIt was followed by Perum Perumnas, with Rp 352 billion in debts;
\nPT Wijaya Karya, with Rp 325 billion in debts; PT Waskita Karya,
\nwith Rp 221 billion in debts; PT Hutama Karya, with Rp 197
\nbillion in debts and PT Nindya Karya, with a total debt of Rp 108
\nbillion.<\/p>\n
Aside from Jasa Marga, the companies which gained relatively
\nbig profits in 1995\/1996 included Perum Perumahan, earning pretax
\nprofits of Rp 43.3 billion; Adhi Karya, Rp 23.3 billion; Wijaya
\nKarya, Rp 22.6 billion and Waskita Karya, Rp 14 billion.<\/p>\n
Among those which earned smaller profits were PT Sarana Karya,
\nwith profits totaling Rp 203 million; PT Indra Karya, with Rp 364
\nmillion, Amarta Karya, with Rp 388 million, Virama Karya, with Rp
\n430 million and Yodya Karya, with Rp 640 million. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/state-owned-jasa-margas-debts-reach-rp-1-trillion-1447893297",
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