Towards the Merger of Construction SOEs, PTPP Undertakes Several Preparations
Heading Towards the Merger of Construction SOEs, PTPP Undertakes Several Preparations
Jakarta, CNBC Indonesia - PTPP (Persero)’s President Director, Novel Arsyad, revealed that the company has undertaken several preparations related to the planned merger of construction SOEs. For this effort, he stated that PTPP has engaged in intensive communications with PT Adhi Karya (Persero) Tbk (ADHI).
“Before implementing the integration of construction SOEs or the merger to be carried out by Danantara, what is desired is to ensure full openness and a more detailed evaluation before the merger is conducted,” Novel stated during the 2025 fiscal year Earnings Call on Tuesday (7/4/2026).
Novel elaborated that these steps are a mandate from Danantara for construction SOEs to return to their core business, namely construction. Other businesses must be promptly resolved, whether through investment changes or other business steps.
“So that it truly returns to the core business with a sufficiently lean organisation. Then, as we move in that direction, we must accelerate our strategy by carrying out one-off adjustments, which are reflected in our financial statements,” Novel explained.
In addition, PTPP has also performed significant impairments or reductions in asset values in its 2025 fiscal year financial statements as a form of transparency regarding the company’s fundamental condition.
Meanwhile, PTPP’s Finance Director, Agus Purbianto, added that this book value adjustment is a critical phase that must be passed before restructuring and consolidation are carried out.
With the presentation of fair asset values, it is hoped that the merger process will not leave hidden burdens for the new entity in the future.
“After the books reflect fair value, the next stage is restructuring. Of course, after restructuring is completed, we will be merged. This is part of the initial stages,” Agus said on the same occasion.
These synchronisation steps are also accompanied by organisational streamlining strategies and the release of non-core assets or asset recycling.
It is known that, in addition to impairments on certain assets in subsidiaries, PTPP has also formed provisions for impairment losses on receivables and adjustments to inventory values, as part of strengthening asset quality and applying more prudent risk management.
These steps are part of implementing prudence principles, strengthening corporate governance, and adjustments to industry dynamics. This does not reflect any issues in the company’s operational management.
This policy exerts pressure on the company’s consolidated financial performance for the 2025 reporting period. Nevertheless, management emphasises that this step is part of the company’s strategy to strengthen its financial fundamentals in the long term.
This is also part of the overall process of organising and strengthening the company’s financial structure to ensure business sustainability and improve the quality of performance in the future.