private & confidential · company overview founded through backdoor listing in 2006, pt...
TRANSCRIPT
PT. NUSANTARA INFRASTRUCTURE Tbk.
© 2015 PT Nusantara Infrastructure Tbk
Private & Confidential
Austrade PresentationMakassar, 20 November 2015
PT Nusantara Infrastructure Tbk. Overview
Company Overview
Founded through backdoor listing in 2006, PT Nusantara Infrastructure Tbk.
(PTNI) is an Indonesia’s leading private infrastructure company.
o Total Assets CAGR 2006 – 2014 of 31% IDR 4,427 Bn (1)
o Total Equity CAGR 2006 – 2014 of 26% IDR 2,520 Bn (2)
o Market Capitalization CAGR 2006 – 2014 of 11% IDR 2,179 Bn (3) on
the Jakarta Stock Exchange META:IJ (as of 3Q 2015 Share Price IDR 143,
Shares Outstanding 15.235 Bn)
3
Note:(1) As of September 3Q 2015.(2) As of September 3Q 2015.(3) As of September 3Q 2015.
Historical Track Record
4
Proven track record of operating, building and acquiring strategic assets throughout Indonesia and working with
foreign investors and partners, including Louis Dreyfus Commodities Holdings Limited (“LDC”), Capital Advisors
Partners Asia Pte Ltd (“Cap Asia”), Providence Equity Partners (“PEP”), and Japan Expressway & West Nippon
Expressway (“JEXWAY”).
2012
Strategic Partnership with Louis Dreyfus
Commodities (“LDC”)
In ISAB for a multi-purpose seaport in Lampung
2013
Investment with Capital Advisors Partners Asia Pte. Ltd. (“Cap Asia”)
25% in MUN amounting IDR 681 bio via capital
enlargement and divestment
2014
Co-Investment with Providence Equity Partners (“PEP”)
IDR 460 bio of debt instrument from PEP to
TI for KIN acquisition
1
2
3
4
2015
Cooperation with JEXWAY (Japan
Expressway) and W-NEXCO (West Nippon
Expressway)
Entering to a mutually beneficial cooperation in MUN Operational
Excellence
Corporate Structure
5
Cap Asia
invested in 2013
Partnered
with PEP in
2014
Partnered
with LDC in
2012
ISAB
Acquired
2012
PORTS
Acquired
2012
Acquired &Developed
2013
Acquired &Developed
2012
WATER
TBN DCC SCTK
Developed
2012
ENERGY
IME
Acquired
2014
TELECOM TOWERS
KIN
Acquired
2006
Expanded
2008
Acquired
2006
Acquired &
Developed
2009
Developed
2007
TOLL ROADS
BSD BMN JLB
JTSE
Strategic Business
Unit (SBU) - Level
Business Unit
(BU) - Level
Acquired
2012
TKCM
74.99% 99.99% 99.99% 99.99% 99.99%
88.93% 98.53% 25.00% 39.00% 51.00% 51.00% 64.99% 45.02% 69.36%
99.39% 28.00%
As Per 30 September 2015
JEXWAY
partnered in 2014
Toll Road Sector
Under the toll road sector, Nusantara Infrastructure operates 4 strategic toll roads viaMargautama Nusantara (MUN), which are: 1). BSD, 2). BMN, 3). JTSE, 4). JLB.
Margautama Nusantara (MUN) – Toll Road SBU
6
Focus in Developing Strategic Roads
Current Portfolio:
1. Harbour Road – Makassar (BMN).
2. Airport Toll Road – Makassar (JTSE).
3. Commuter Road – Greater Jakarta (BSD).
4. Jakarta International Airport Road (2nd) – JORR 1 (JLB).
Development Plan in Makassar
Background
Makassar city is a city with economic growth rates above the average national growth (9.2%).
Economic growth was followed by the rapid increase in the transport of goods. The current
capacity of Makassar seaport (Soekarno – Hatta port) is not sufficient to support the growth
of goods transportation. Limited land, is one of the problems to increase port capacity.
Therefore, the Government through PT. Pelindo IV, plans to build a new port which is
separated from the Port of Soekarno - Hatta, known as Makassar New Port (“MNP”),
increase the capacity of Makassar Port from 800,000 Teus to become 1,5 mio Teus (Phase 1)
and become 2,0 mio Teus (Phase 2)
Background
MNP is one of the program “Indonesia Pendulum Strategic Sea Port" endorsed by theGovernment. On May 20, 2015, the President has done ground breaking construction ofMNP, and construction is expected to be completed in 2017.
Progress realization up to October 2015 was 5.56%
To support the operational of the project needs access roads that connect directly to the tollroad.
The existence of MNP and access roads to be built, an opportunity that can be cooperationbetween PT. MUN / PT. BMN with Pelindo IV (Access to Makassar New Port).
Background
• Makassar City (Leading East Indonesia) Development Plan
1. Development of Waterfront
2. Improvement of Traffic Flow in North-South & East West Directions
3. Eco-City and Smart City Concept
・ Makassar Port (one of four major ports in Indonesia）:
New Port Development
・ BMN as current toll road operator in Makassar discusses & intends to extend toll roads following Makassar City Plan.
・ The Study has been proposed and being carried out.
Makassar New Port Development
Makassar New Port Development Plan
PAOTERE
MAKASSAR NEW PORT
SOEKARNO
HATTA
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BMN
1. BMN - Makassar New Port – JTSE2. JTSE – Makassar New Port,
Makassar New Port – BMN3. Existing
Container Terminal Plan - MNP
TERMINAL PETIKEMAS
MAKASSAR
Phase 1AREA : 122 HALONG WHARF : 2.043 MCC : 10 UNITINVESTMENT : Rp. 9,3 TrillionCAPACITY : 1,5 Mio TEU’s
Phase 2AREA : 106 HALONG WHARF : 1.000 MCC : 10 UNITINVESTMENT : Rp. 12,5 TrillionCAPACITY : 2 Mio TEU’s
Makassar New Port – Lay out
Detail Access to Makassar New Port
Phase 1 =Phase 2 =Existing =
1. Phase 1 : BMN - Makassar New Port – JTSE
2. Phase 2 : JTSE – Makassar New Port and Makassar New Port - BMN
Will be built along 2 (two) kilometer access road linking the new port with the mainland.Main Access
MNP - Gallery
Pettarani Toll Road
Background
National Long-Term Development Plan(RPJPN：2005-2025)
Master Plan for Acceleration and Expansion of Economic Development （MP3EI：2011-2025）
1. Economic Potential Development through Economic Corridors
⇒ Development of East Indonesia
2. Strengthening the National Connectivity
⇒ Development of Infrastructure
3. Strengthening National Human Resources
Capability and Science & Technology
⇒ Development of Education System
Makassar
Development Plan
Project Brief
To formulate PPP proposal together with Local Governments (Makassar City etc.) and toll road operator
Phase Route Road Structure
Phase 1
Length 4.3 km(a) At-Grade+Viaduct at major
junctions
Pettarani(U. Sumoharjo - S. Alaudin）
(b) Viaduct
Phase 2Option Ａ
Length 6.2 km (a) Embankment
from Phase 1 End to South-West Direction and to Sea Side along Jeneberang River
Land Acquisition & Resettlement Required
Phase 2Option B
Length 3.8 km (a) Viaduct
from Junction of Hertasning toward Sea Side through Rappocini and L．Pasewang
Land Acquisition & Resettlement Required
Project Brief Route Map
Project Target (Phase 1)
Route
Pettarani(U. Sumoharjo - S. Alaudin)
Length : 4.3 km
Makassar Future Network
Legend2
(planning road - Color) ALL 4 Lanes Toll Road (This Report) Toll Road (Makassar City Planing) Toll Road (South-Sulawesi Planing)
To Takalar To Takalar (GOWA)
To Maros
HasanuddinAirport
Phase2A
Legend1
(Classification - Color) Toll Road National Road Other Road
Losari
Maminasata By-Pass isoutermost ring road.
Pettarani Toll Road
Current Road
Present condition of Phase 1Phase1 to plan toll road within Pettarani road reserve(41 ~ 47m). According to site survey, toll road will beaccommodated within road width.
Section of Pettarani street
Present condition of Phase2There are two options in Phase 2. Option A: to extend to southern residential areas and along rivers
Photo : Pettarani Street
Option B: to plan through Rappochinistreet from the middle of the Phase1Both options need land acquisition and resettlement.
Propose Project to Government
Phase 1o Proposal of Viaduct (4.3km) as an extension of existing toll road (BMN) by Revenue
sharing with an existing SPC o If toll rate IDR 700 / km, PIRR =18.6%, DSRC 1.4 o Toll rate (blending with existing/ individual toll rate) and concession contract
adjustment of existing toll road to be discussed with BPJT
Phase 2 Option Ao Proposal of At-Grade and Embankment (6.2km) as Solicited Project with Land
acquisition and VGF (50 % of construction) by government o If toll rate IDR 1,100/km, PIRR =16.0%, DSCR =1.1 o Reduction of construction cost and Negotiation on VGF with Government is necessary
Phase 2 Option Bo Proposal of Viaduct (3.8km) as Solicited Project with Land acquisition acquisition and
VGF (50 % of construction) by governmento If toll rate IDR 1,400/km, PIRR = 16.1%, DSCR =1.2 o Toll rate is much higher than affordable rate, project is difficult to proceed.
Technology Projects
Overview
Besides toll road projects, Nusantara Infrastructure through PT Nusantara Infrastructure Technology (“NIT”) will cooperate with Japanese companies to introduce Japan technology in Indonesia and will implement it in Makassar as a role model.
On Going Project
Toll Gate Operating System – BMN & JTSE
ETC (Electronic Toll Collection) - OKI
Traffic Information System - FUJITSU
Overview
Up Coming Project
Moving Vehicle Weighing System – NEXCO FACILITIES
“J” System Project – SHIKOKU Engineering
Ultra Fine Bubble Technology – NEXCO LIGARIC
GIS (Geographic Information System) – CHUYUGOKU Engineering
nusantarainfrastructure.com
Thank You
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