Abstract
The Indonesian toll road is not new. It started in 1978 with launched the Jagorawi Tol road continued by several toll sections in the following years. The industry faced common issues as elsewhere, including inefficiency, high level risks due to highly leverage of liabilities and investment environment. Jasa Marga, the Indonesian state owned enterprise, which operated toll road almost the last three decades. By far, the company has successfully managed almost 13 toll sections, which spread in all Indonesian provinces. Some emerging cities around Indonesia have forced the company to serve a higher demand for toll roads. The main problem faced by the company is that the highly leverages has led the difficulties to add the additional borrowing. The lack of capacity borrowing has reinforced the company to seek an alternative new financing. The Initial Public Offering is widely recognized to deliberate the company from their handicap.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
