PT Jasa Marga expects profit of Rp 220b this year
PT Jasa Marga expects profit of Rp 220b this year
JAKARTA (JP): PT Jasa Marga, the state-owned toll-road
developer and operator, will probably surpass its profit target
of Rp 190 billion (US$83.15 million) to reach Rp 220 billion this
year, the company's President Maryadi Darmokumoro said yesterday.
"We're optimistic that a profit of Rp 220 billion from this
year's revenues of Rp 509 billion can be realized," said Maryadi,
who was speaking at a year-end meeting with journalists here.
For next year, the company has targeted a profit of Rp 240
billion from a projected revenue of Rp 600 billion.
The company's bullish estimate is based on the fact that more
toll-roads are already in operation, the volume of traffic on the
roads will increase and more revenues will flow from
advertisements and land-sites rented along the toll-roads.
He said that 40 km of new toll-roads started operation this
year, bringing the total length of toll-roads in Indonesia to 442
km.
The number of toll-road users from January to Dec. 28
increased by 12 percent to 379 million vehicles. The largest
traffic volume was posted on the Cawang-Tomang-Tanjung Priok,
Jakarta-Cikampek, Jakarta-Bogor-Ciawi (Jagorawi) and Jakarta-
Merak toll roads.
The company, which was set up in 1978, said it will improve
its' public service through several programs that include
campaigns to reduce the number of accidents and prevent traffic
jams from deteriorating.
According to Maryadi, the state company will build more car
parks and increase toll-gates next year.
It will also build computerized information-boards to inform
toll users on traffic conditions so that they can choose which
roads they should take to avoid traffic jams.
Cards
He predicted that next March the company will fully operate
the so-called prepaid cards, which are relatively similar to
telephone cards.
Holders of such cards will need no cash to pay the toll fees
every time they travel on toll-roads. They just buy the cards,
which are made available in three different prices -- Rp 30,000,
Rp 50,000, and Rp 100,000 -- and insert them in the machines
installed at toll gates.
The company, which will sell shares on the domestic and
international stock exchanges in July, is tendering the
construction of 19 toll-road projects, of which 18 will be
located in Java and the other one in North Sumatra. The projects,
with a total length of 770 kilometers, will cost an estimate of
Rp 6.07 trillion.
"The tendering process is expected to be finalized during the
first semester of next year," said Maryadi, who refused to
identify the private companies taking part in the tender.
Companies interested in the projects, which will be
constructed under a build, operate and transfer arrangement, are
required to establish either joint ventures or joint operation
with Jasa Marga.
Of the 19 toll road projects, one is expected to start
operation by 2000, three by 2001 and the others by 2004.
In responding to concern over the increased participation of
private investors in toll-road development, Maryadi noted that
Jasa Marga will always stick to its mission of pursuing its
social function.
"We are authorized to control them. And by that power we can
revoke the license of a toll-road developer," he said, adding
that actually there is no limitation to the participation of
private sector companies.
"As long as we are authorized to control the private
developers, there'll be no problem," he opined. (13)