The Monorail - Central Government Guarantees

After a number of uncertain months, and some to and fro between the Central Government and the Government of Jakarta, there is finally an in principle agreement in place between the two. This in principle agreement is in the form of a recently issued Presidential Regulation,No.103 of 2006, which in essence guarantees 50% of any monies owed based on a daily passenger shortfall in usage of the monorail or to a maximum of 50% of USD 22.5 million per year.