“PT Semesta Marga Raya (“SMR”) operates as a toll road company established on 25 February 2008. SMR obtained concession rights for the Kanci-Pejagan toll road segment with a 35 year concession period. The Kanci-Pejagan toll road is part of the Trans Java toll road connecting the Kanci-Palimanan toll road in Cirebon and the Pejagan- Pemalang toll road in Brebes with a total length of 35 km.
The Kanci-Pejagan Toll Road was officially opened on January 26, 2010 and was initially operated by PT Bakrie Toll Road, a subsidiary of PT Bakrieland Development Tbk, but in December 2012, 100.00% of PT Bakrie Toll Road was sold to PT Media Nusantara Citra Group (“MNC Group”).
In 2015, MNC Group and Company formed a joint venture company called PT Waskita MNC Transjawa Toll Road. Then Waskita Toll Road controlled 61.50% of shares at the joint venture and MNC Group owns the remaining shares. In the same year, Company acquired MNC Group shares and changed its name to PT Waskita Transjava Toll Road (“WTTR”).
Currently, Company owns SMR shares 100.00% through PT Waskita Transjawa Toll Road and PT Trans Java Paspro Toll Road.”