toll road business opportunity in...

TOLL ROAD BUSINESS

OPPORTUNITY IN INDONESIA

Presented by,

Abdul Hadi Hs. Director of Business Development

ONE DAY SEMINAR INDONESIA : BUSINESS AND INVESTMENT OPPORTUNITIES, MAY 21ST, 2014

PT JASA MARGA (Persero) PT Jasa Marga (Persero) Tbk

TOLL ROAD DEVELOPMENT OPPORTUNITY

Government of Indonesia plans to develop 4.500 Km toll road within 2010-2030;

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Java$Sea$

Timor$Sea$

Strait$of$Malacca$

Banda$Sea$

$$$$Indian$Ocean$

SULAWESI(

PAPUA(KALIMANTAN(

MALUKU(SUMATRA(

CENTRAL JAVA !  Semarang: 24.75 km !  Semarang-Solo: 75.7 km(1)

EAST JAVA !  Surabaya-Gempol: 49.0 km !  Gempol-Pasuruan: 34.15 km(1)

!  Surabaya-Mojokerto: 36.3 km(1)

!  Gempol-Pandaan: 13.61 km(1)

NORTH SUMATERA ! Belmera: 42.7 km ! Medan - Kualanamu – Tebing Tinggi : 62 Km GREATER JAKARTA & WEST JAVA

!  Jagorawi: 59.0 km !  Jakarta-Tangerang: 33 km !  Ulujami-Pondok Aren: 5.55 km !  Jakarta Inner Ring Road: 23.55 km !  Prof. Dr. Ir. Sedyatmo: 14.3 km !  Jakarta-Cikampek: 83.0 km !  JORR: 43 km !  Cikampek-Padalarang: 58.5 km !  Padalarang-Cileunyi: 64.4 km !  Palikanci: 26.3 km !  Bogor Outer Ring Road: 11.0 km(1)

!  Cengkareng-Kunciran: 15.2 km(1)

!  Kunciran-Serpong: 11.2 km(1)

!  JORR W2 North: 7.67 km(1)

JAVA$ BALI$

BALI !  Nusa Dua-Ngurah Rai-Benoa: 10 km

Notes: (1) New toll roads which either in land acquisition process or in construction process, except for BORR section I (3,8 Km), Semarang-Solo section I (23 Km), JORR W2 North (7,67 Km) and Surabaya-Mojokerto section I (3 Km) which already operates.

Jasa Marga manages and

operates owned 74% market share of toll road in Indonesia.


SUBSIDIARIES

1.  PT MSJ

2.  PT TJP

3.  PT TMJ

4.  PT MKC

5.  PT MTN

6.  PT MNA

7.  PT MLJ

8.  PT Jasamarga Pandaan Tol

9.  PT JBT

BUSINESS STRUCTURE OF PT JASA MARGA (Persero) Tbk.

Toll Road Operation

SUBSIDIARIES 1.  PT Sarana Marga

Utama (Toll Road Maintenance Services)

2.  PT Jalantol Lingkarluar Jakarta (Toll Road Operation Services)

3.  PT Jasamarga Properti (Property Development Services)

BUSINESS UNITS

1.  Rest Area Management Business Unit (Rest Area Management and Development Services)

2.  Jasa Marga Development Centre Unit (HRD Training and Development Services)

Related Business Development Toll Road Business Development

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Majority Share Holder

BRANCHES 1.  Cawang Tomang Cengkareng

2.  Belmera

3.  Jakarta Tangerang

4.  Jakarta Cikampek

5.  Jakarta Bogor Ciawi

6.  Purbaleunyi

7.  Semarang

8.  Surabaya Gempol

9.  Palimanan Kanci


FINANCIAL PERFORMANCE OF PT JASA MARGA (PERSERO) TBK.

New Toll Road Investment Progress

Assets Growth

0.107 0.273

0.446

0.745

1.095

-

2.00

4.00

6.00

8.00

10.00

12.00

2009 2010 2011 2012 2013

$1.617$$(1.895(( (2.092((

(2.475(($2.837$$

-

5.00

10.00

15.00

20.00

25.00

30.00

2009 2010 2011 2012 2013

CAGR 15,1%

* Compound Annual Growth Rate

During the last 5 years, the progress of new toll roads investment is dramatically, reflected to the growth of toll road assets specially on

subsidiaries

The growth of investment progress of new toll roads have significant impact to the

growth of company’s assets

USD(Billion( USD(Billion(1.20

1.00

0.80

0.60

0.40

0.20

3.00

2.50

2.00

1.50

1.00

0.50

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Government build the public road network

Public

State/Local Budget (APBN / D)

Toll road users fund

Non Toll Road Toll Road (financially feasible)

Available Fund

Bridging by Investor & Bank

Source of fund

Toll Public Taxes

Toll Road (financially not feasible)

Source of Public Road Network Development Fund

TOLL ROAD CONCEPT

Toll Road is

return back to the Government in the

end of concession period

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REGULATION SCHEME

30% Shareholding

Since 12 Nov 2007

Private Toll Road Investors Private Toll Road Investors

GOVERNMENT of Indonesia

Directorate General Of

Highway

The Ministry of State Owned Enterprises

The Ministry of Public Works

Indonesia Toll Road Authority

Establishment of Road Network Plan and Technical Spesification

Provide concessions and

oversee its implementation

Toll Road Private Investor

(38 Investor)

Toll Road Concession Agreement

70% Shareholding

Public

Toll Road Concession Agreement

TOLL ROAD CONCEPT

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The

beg

inni

ng o

f co

nces

sion

per

iod

Ope

ratio

nal

com

men

cem

ent

End

of

conc

essi

on

peri

od

Payback Period

O/M Cost

Cos

t of I

nves

tmen

t & O

pera

tion

(Cum

mul

ativ

e PV

) ∑

Rp

Time

Investor Profit

Toll road is returned back to Government

Enjoyment Period

Concession Period (35 - 45 Years)

Scheme of Investment Return

Construction Land

Acquisition

TOLL ROAD INVESTMENT CHARACTERISTICS

Deficit Cash Flow (5-7 years)

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RISK ALLOCATION

Land Acquisition

Road Network Master Plan Tariff Setting

Social/Politic Issues

Force Majeure

Construction Interest Rate

O&M Cost Traffic

Volume Force Majeure

IIGF (Indonesia

Infrastructure Guarantee

Fund)

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o  Trans Sumatera corridor extend from Bakauheni through Banda Aceh, along Sumatera East Coast.

o  The total length reached 1.980 km

o  Trans Sumatera connects 7 7 big cities (Natiional activity center), 5 airports, 6 ports and Bandar Lampung – Palembang Railways.

MEDAN-BINJAI

PEKANBARU-KANDIS-DUMAI

Kayu Agung-Palembang-Betung

MEDAN-KUALANAMU-TEBING TINGGI

PADANG-SICINCIN

TRANS SUMATERA TOLL ROAD PROJECT

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MEDAN-KUALANAMU-TEBING TINGGI TOLL ROAD PROJECT

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MEDAN-BINJAI TOLL ROAD PROJECT

Binjai Medan

Medan Binjai

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Dumai

PEKANBARU

PEKANBARU-DUMAI TOLL ROAD PROJECT

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MALANG

LAWANG

PAKIS INTERCHANGE

LAWANG INTERCHANGE

PURWODADI INTERCHANGE

L = 37.618 Km

L = 23.2 KmPHASE-1

L = 14.418 KmPHASE-2

SAWOJAJAR ICBEGINNING POINT

PURWODADI

PANDAAN END POINT

1. Trase Jalan Tol Malang - Pandaan

PANDAAN

Elements Characteristics Length 38,7 Km

Investment Cost (USD 418 Million) FIRR 16,78%

Toll Tariff (Class I, 2017) (USD 0,08) /Km Concession period 35 years Construction period 2 years

24.000 Vehc/day

PANDAAN-MALANG TOLL ROAD

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SECTION – 1 : 13,5 km RR MANADO – AIRMADIDI

LAND ACQUISITION : 100 %

SECTION – 2 : 25,5 km AIRMADIDI – BITUNG

LAND ACQUISITION : 31,3 %

IC SUKUR STA 07+200

IC AIRMADIDI STA 12+600

iC KAUDITAN STA 19+800

IC DANOWUDU STA 28+900

IC BITUNG STA 38+700

MANADO-BITUNG TOLL ROAD PROJECT

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Government Portion (29,4 Km) Private’s Portion (30,9 Km)

C O N S T R U C T I O N C O S T

LAND ACQUSITION (by GOVERNMENT)

OPERATION (BY PRIVATE )

LAND ACQUSITION (by PRIVATE)

Elements$ Characteristics$Length( 60, 3 Km(Design Speed( 80 Km/hr(Number of lane( 2x2 lanes (start), 2x3 lanes (final)(

Lane of width( 3,6 m(Outer Shoulder width( 3,0 m(Inner shoulder width( 1,5 m(

Median width( 13 m(

Elements$ Characteristics$Construction Cost IDR 5.390 Billion (USD 559,36 Million) Investment Cost IDR 9.258 Billion (USD 960, 77 Million) FIRR 14,18% Concession Period 35 Years Toll Tariff/Km (2017) IDR 800/USD 0,083 Land Acquisition Progress Section I (Cileunyi – Tanjungsari) : 37,16%, Section II (Tanjungsari-Sumedang) :

45,28%, Section III (Sumedang – Cimalaka) : 0%, Section IV (Cimalaka-Legok) : 0%, Section V (Legok – Ujung Jaya) : 0%, Section VI (Ujung Jaya – Kertajati) : 0% Total : 21,62%

Construction period 2 Years (2014-2016) Operation (year) 2017 Government Support To get FIRR 16% on 2017, it is required IDR 1.261.619 Million (USD 130,91

Million) Government Support, so that the investment cost will be IDR 7.323.928 Million (USD 759,98 Million)

CILEUNYI4SUMEDANG4DAWUAN$TOLL$ROAD$(60,3$Km)$

16.921 Vehc/day

14.749 Vehc/day

16.671 Vehc/day 16.556 Vehc/day

CILEUNYI-SUMEDANG-DAWUAN TOLL ROAD PROJECT

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PASIR KOJA-SOREANG TOLL ROAD PROJECT

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KAB. KUTAI KERTANEGARA

KOTA SAMARINDA

SEPAKUTIGA

Paket IV : 16,9 km

Paket III : 22,6 km

Paket II : 23,0 km

Paket I : 25,4 km

TELUK BALIKPAPAN

BALIKPAPAN Paket V : 11,12 km

99,02 km

BALIKPAPAN-SAMARINDA TOLL ROAD PROJECT

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: Railways : Toll Road

KETERANGAN :

DAAN MOGOT-CENGKARENG TOLL ROAD PROJECT

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KALIBARU-KBN MARUNDA TOLL ROAD PROJECT

Tanjung Priok

Cibitung-Cilincing Toll Road

Kalibaru-KBN Marunda Toll Road

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ATAS LAUT JAKARTA-SURABAYA TOLL ROAD PROJECT PLAN

Rencana Jalan Tol

Jakarta-Semarang Section Semarang-Surabaya Section

+100 km

Alt-1 Alt-2

Jkt-Smr = 405 km Smr-Sby = 274 km Jkt-Sby = 679 km

Semarang-Surabaya Section

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POTENTIAL TOLL ROAD FOREIGN PARTNERSHIP

POSCO E & C – South Korea " MoU has been signed on April 22, 2014. " The first target in partnertship is Manado-Bitung Toll Road and the regional development along the highway corridor.

WEST NEXCO LTD. AND JEXWAY LTD. – Japan " MoU has been signed on April 22, 2014. " The first target in partnertship is Cibitung-Cikarang Toll Road.

CMS Int. – Malaysia " MoU has been signed on April 22, 2014. " The additional scope of Cengkareng-Kunciran project (Daan Mogot-Cengkareng).

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PT JASA MARGA (Persero) PT Jasa Marga (Persero) Tbk 23

Java$Sea$

Timor$Sea$

Strait$of$Malacca$

Banda$Sea$

$$$$Indian$Ocean$

SULAWESI(

PAPUA(

KALIMANTAN(

MALUKU(SUMATRA(

CENTRAL JAVA !  Semarang: 24.75 km !  Semarang-Solo: 75.7 km(1)

EAST JAVA !  Surabaya-Gempol: 49.0 km !  Gempol-Pasuruan: 34.15 km(1)

!  Surabaya-Mojokerto: 36.3 km(1)

!  Gempol-Pandaan: 13.61 km(1)

NORTH SUMATERA ! Belmera: 42.7 km ! Medan - Kualanamu – Tebing Tinggi : 62 Km

GREATER JAKARTA & WEST JAVA On Going Project by Jasa Marga and Telkom !  Jagorawi: 59.0 km !  Jakarta-Tangerang: 33 km !  Ulujami-Pondok Aren: 5.55 km !  Jakarta Inner Ring Road: 23.55 km !  Prof. Dr. Ir. Sedyatmo: 14.3 km !  Jakarta-Cikampek: 83.0 km !  JORR: 43 km !  Cikampek-Padalarang: 58.5 km !  Padalarang-Cileunyi: 64.4 km !  Palikanci: 26.3 km !  Bogor Outer Ring Road: 11.0 km(1)

!  Cengkareng-Kunciran: 15.2 km(1)

!  Kunciran-Serpong: 11.2 km(1)

!  JORR W2 North: 7.67 km(1)

JAVA$BALI$

BALI !  Nusa Dua-Ngurah Rai-Benoa: 10 km

Jasa Marga manages and

operates 573 km toll road and owned 74% market share of toll

road in Indonesia.

TOWER

MANAGE LINE

INTERNET/ INDIHOME (BUNDLING POTS, SPEEDY, USEETV)

TOLL INFORMATION SYSTEM

etc DIGITAL SIGNAGE

WIFI.ID

e-MONEY DATA CENTRE

Information Technology Development in Jasa Marga Toll Roads


Property Development in Jasa Marga Toll Roads

3 locations, + 105.000 Ha (2 Industrial Area 1 Property Dev.)

2 locations, + 1000 Ha (Industrial Area)

2 locations + 40 Ha (Rest Areas) + 500 Ha

(Mixed Use Area)

Jakarta

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Potential Business Development in Manado-Bitung Toll Road

Manado – Bitung Toll Road 39km, Dual Carriageway at grade Toll Road : 1. Ring Road 1 Interchange 2. Sukur Interchange 3. Airmadidi Interchange 4. Kauditan Interchange 5. Danowudu Interchange 6. Bitung Interchange

Township$

Township$

Government$Center$RecreaPon$Complex$

EducaPon$City$

Industrial$Complex$

Reclaimed$Industrial$$Complex$

Proposed$Development$:$$

*).$Subject$to$be$validated$in$Feasibility$Study$Brantwood$Group$of$Companies$–$27$Jan$2014$

100 Ha

Manado$

Bitung$

1

2

3 4

5 6

100 Ha

200 Ha

300 Ha

500 Ha

400 Ha

500 Ha

2000 Ha

Ecopark 2000 Ha

100 Ha

300 Ha

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Terima Kasih Thank You

Further Information :

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