As a form of the Company's compliance in implementing Good Corporate Governance (GCG), PT Penjaminan Infrastruktur Indonesia (Persero)/PT PII has held the 2023 Annual General Meeting of Shareholders (AGMS) with the agenda of Approval of the Company's Annual Report for the Fiscal Year 2023 and Determination of the Decision on the Use of the Company's Net Profit for the 2023 Fiscal Year on Tuesday (21/5).

In the Company's Annual Report for Fiscal Year 2023 which was approved at the AGMS, PT PII recorded positive performance throughout 2023. This can be seen from the revenue recorded in 2023 of IDR 1.32 trillion with a net profit of IDR 836 billion. This revenue and profit is the highest achievement of the BUMN which is the Ministry of Finance's Special Mission Vehicle (SMV) since its founding on December 30 2009. Apart from that, performance efficiency was also demonstrated by the Company with a net profit margin reaching 63% and the ratio of Operating Expenses to Operating Expenses ( BOPO) of 37%.

In line with financial performance, PT PII's operational performance continues to grow. As of December 31 2023, PT PII has provided guarantees for 50 projects with a total investment value of IDR 497 trillion and a total guarantee value of IDR 91 trillion. Of this total, infrastructure guarantees were recorded for 41 projects with a project investment value reaching IDR 432 trillion with a project guarantee value reaching IDR 83 trillion.

The President Director of PT PII, M. Wahid Sutopo said at the 2023 AGMS moment, that PT PII had set a strategic direction for 2023 in accordance with the Company's Long Term Plan (RJPP), namely expanding benefits in various sectors and in the stages of infrastructure projects. In accordance with this strategic direction, in 2023 PT PII will focus on strengthening the sustainability of the pipeline within its existing mandate as well as expanding the PPP guarantee sector, especially related to sectors that support energy transition efforts and facing the challenges of climate change. Apart from that, PT PII's focus is also directed at guaranteeing small scale Government Cooperation with Business Entities (KPBU) which is a pilot project to develop potential infrastructure development in each region.

"The performance trend is still on track with the RJPP until 2027, and we will evaluate it from time to time, and we are grateful that performance and governance aspects can be implemented well amidst conditions of macro volatility and increasingly challenging assignments," stressed Sutopo.

The new assignments received by PT PII include guaranteeing the Government Food Reserve (CPP) program, accelerating the implementation of infrastructure and facilities for the Jakarta Bandung Fast Train (KJCB), and Indonesia Sustainable Least-Cost Electrification (ISLE).

In 2023 PT PII has also implemented various strategic initiatives to support the achievement of performance targets which include initiatives related to guarantees, project preparation and assistance, as well as enablers and risk management. One of the initiatives undertaken is to expand the reach of guarantees beyond infrastructure, one of which is the green economy through the implementation of the Environment, Social and Governance (ESG) framework such as energy transition and urban facilities in the form of energy conservation. One of the projects provided with guarantees is APJ (Street Lighting Equipment) in West Lombok which is one of the APJ energy-saving lighting system pilot projects, namely increasing the use of energy-saving lighting (LED) technology which can reduce greenhouse gas (GHG) emissions. On the other hand, there are five new sectors that PT PII will pursue in 2023, including Natural Resources (SDA) and irrigation, health, transportation (airports, ports and terminals), waste and B3, and housing. PT PII will also continue to develop new sectors and the social sector.

On the same occasion, PT PII President Commissioner Rina Widiani Wahyuningdyah said that apart from brilliant performance, the implementation of good corporate governance is also PT PII's commitment. This is proven by the results of the assessment by the Financial and Development Supervisory Agency as an independent assessor on the GCG aspect where PT PII's GCG score reached 90.04 (very good). "This is the first time the Company has achieved a score above 90 in the very good category. "As the Board of Commissioners, we really appreciate PT PII's performance achievements and we hope that PT PII will continue to improve its performance based on Governance, Risk and Compliance," explained Rina.

Meanwhile, the Director General of State Assets (DJKN) of the Indonesian Ministry of Finance, Rionald Silaban, who represented the Indonesian Government as PT PII Shareholder, expressed his appreciation for the supervision carried out by the Board of Commissioners. Rionald also conveyed several directions to the Board of Directors and Commissioners of PT PII, including a thorough evaluation of potential guarantee claims and termination of project guarantees, as well as obstacles to delays in signing project guarantees. "For the Board of Directors and Board of Commissioners to carry out an in-depth review of the long-term plan to ensure the targets are still relevant," added Rionald.

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