PT Misi Mulia Metrical (MMM) transferred as many as 10,000 shares in PT Pembangunan Perumahan Semarang Demak (PPSD) to PT PP (Persero) Tbk (PTPP).

With the transfer of rights over these shares, the new PPSD shareholder composition is PTPP at 73.85% and PT Wijaya Karya (Persero) Tbk 26.15%.

"The transfer of rights to shares has a positive impact on the company, as it can strengthen the company's finances while still paying attention to the principles of good corporate governance and the provisions of the prevailing laws and regulations," said PTPP Corporate Secretary, Yuyus Juarsa in the disclosure submitted to IDX, on Thursday ( 28/1).

Quoting the official website of PT Penjaminan and Infrastruktur (PII), the Semarang - Demak toll road is one of the National Strategic Projects (PSN) with a total length of 27 km. This project is integrated with a sea wall located in the city of Semarang to Demak Regency.

The investment value of this project is estimated at Rp. PII supplies 15.3 trillion and part of the required funds.