State-owned toll road operator Jasa Marga (JSMR) plans to divest stakes in 4-5 firms with toll road concessions. The Company mulls to issue mutual funds and to invite strategic investors. JSMR has divested its minority stake (19%) in PT Jakarta Lingkar Baratsatu (JLB). This move aims to boost equity of JSMR and to reduce pressures on debt. The Company is now developing 11 toll road projects.
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