PTPP Shareholders Agree to Agenda at AGM
Jakarta, CNBC Indonesia – PT PP (Persero) Tbk (PTPP), a national construction and investment company under Danantara Indonesia, has fulfilled its annual obligations as a market issuer by holding the Annual General Meeting of Shareholders (RUPS Tahunan) for the 2025 financial year on Tuesday, 19 May at the PTPP Head Office, Jakarta.
During the AGM for the 2025 financial year, the company discussed and obtained approval for seven agenda items:
Approval of the Annual Report and ratification of the Company’s Consolidated Financial Statements.
Approval of the Supervisory report of the Board of Commissioners, and ratification of the financial statements for the Mikro and Small Enterprise Financing Program (PUMK) for the 2025 financial year, together with full discharge of liability (vollledig acquit et de charge) to the Board of Directors for the management of the Company and the Board of Commissioners for the oversight actions carried out during the 2025 financial year.
Appointment of Public Accountant and/or Public Accounting Firm to audit the Company’s Consolidated Financial Statements and the PUMK Financial Statements for the 2026 financial year.
Determination of salaries/honorarium and facilities and allowances for the 2026 financial year, and remuneration for performance for the 2025 financial year for the Company’s management.
Delegation of authority to approve the Company’s Long-Term Plan (RJPP) for 2026-2030 and the Work Plan and Budget (RKAP) for 2027, including amendments, from the AGM to the person(s) designated by the AGM; delegation of authority to approve amendments to Pension Fund Regulations.
Amendment to the Company’s Articles of Association.
Change in the Company’s management composition.
Under item 6, regarding amendments to the Company’s Articles of Association, shareholders approved the transfer of 31,619,477 Series B shares from PT Danantara Asset Management (Persero) to BP BUMN. The Series B shares will subsequently be converted into Series A Dwiwarna shares to meet Article 2(3) of Law Number 16 of 2025 on State-Owned Enterprises, which provides that the Republic of Indonesia holds 1% of Series A Dwiwarna shares in state-owned enterprises through the BP BUMN Head.
Furthermore, under item 7, shareholders approved changes to the Company’s governance as follows:
Board of Commissioners
President Commissioner / Independent Commissioner: Dhony Rahajoe
Commissioner: Setya Nugraha
Commissioner: Aisyah Zakiyyah
Commissioner: Giri Suprapdiono
Independent Commissioner: Tjia Marwan
Independent Commissioner: Ain Rika Armina
Board of Directors
President Director: Novel Arsyad
Finance Director: Faizal Rahmad
Director of Risk Management & Legal: Tommy Wiranata A
Director of Corporate Strategy and HR: I Gede Upeksa Negara
Director of Infrastructure Operations: Yul Ari Pramuraharjo
Director of Building Operations: Yuyus Juarsa
The Company expressed appreciation to the outgoing management for their dedication and contributions to the Company’s transformation and business development during their tenure.
For the 2025 financial year, PTPP reported new contract values of Rp24.95 trillion. Based on funding sources, the composition of new contracts was 45% government projects, 35% BUMN projects, and 20% private sector.
In terms of business segment contributions, the largest came from the buildings sector at 35%, followed by roads and bridges at 16%, mining at 12%, power plants at 11%, ports at 10%, irrigation at 6%, dams at 4%, oil and gas at 3%, industry at 2%, and airports at 1%.
Some of the largest contributing projects include the Batam LNG-fired power plant (PLTGU Batam), New Priok East Access Phase II, Itacha 2 – Provision of Procurement & Construction for Haul Road, Kataraja Toll Phase 2, Cikampek–Plumpang Fuel Pipeline, Gedung DPD IKN, and Karian–Serpong Water Conveyance System (KSCS) Package 1.
A representative from BP BUMN at the AGM also expressed appreciation for the Company’s performance during the 2025 financial year, particularly for maintaining positive operating cash flow and continuously reducing the Company’s liabilities.
These achievements are viewed as reflecting the effectiveness of the strategy to strengthen the Company’s fundamental business and prudent financial management amid dynamics in the national construction industry.
In addition to positive operational performance, the Company continues to strengthen its implementation of Good Corporate Governance (GCG).
Based on the ASEAN Corporate Governance Scorecard (ACGS) assessment, PTPP achieved an overall score of 101.69 points and earned the predicate of “Leadership in Corporate Governance” or Level 5 (>100).
This achievement indicates that the governance practices implemented by the Company exceed the Level 1 assessment standard (ACGS Structure) and position PTPP as one of the leading issuers in adopting good governance standards in Indonesia according to ACGS.
New Contract Value for PTPP
PTPP recorded new contract values of Rp6.88 trillion up to April 2026. The new contracts are predominantly funded by the government (82%), followed by BUMN projects (10%) and private projects (8%). By business line, the largest contributions come from Roads and Bridges (35%), Disaster Response (26%), Healthcare (Hospitals) (16%), Smelter and Mining (10%), Buildings (6%), Ports (3%), Water Resources (3%), and Water Infrastructure (2%).
One of the largest contracts secured in April 2026 was the KSPEAN WANAM - MUTING Road Segment 1, valued at Rp1.77 trillion.
Corporate Secretary of PTPP, Joko Raharjo