Indonesian corporate and fiscal updates: Jasa Marga capex and regional financing schemes

Several Indonesian companies and government entities have announced significant financial developments. PT Jasa Marga (Persero) Tbk estimates its capital expenditure for investment will reach approximately Rp12 trillion by the end of 2026, focusing on toll road construction and maintenance.

In the financial sector, PT Bank Kasikorn Indonesia Tbk plans a Rp1 trillion rights issue by issuing 2.87 billion new shares. Meanwhile, PT Raharja Energi Cepu Tbk has received shareholder approval for a private placement to issue up to 271.5 million new shares to strengthen capital for business expansion.

Regarding individual transactions, Edwin Soeryadjaya, the controlling shareholder of PT Saratoga Investama Sedaya Tbk, purchased 2.25 million shares for approximately Rp4 billion, bringing his ownership to 35.9%.

On the policy front, the Ministry of Finance is preparing a new infrastructure financing scheme through PT Sarana Multi Infrastruktur to address regional revenue sharing shortfalls, potentially involving up to Rp40 trillion, though this plan has faced criticism from members of the Indonesian House of Representatives (DPR).