JAKARTA. After conducted initial public offering (IPO), PT Waskita Beton Precast is planning to jack up sales by increasing production capacities. Recently, the issuer that listed in Indonesia Stock Exchange (IDX) under the code of WSBP is preparing IDR4 trillion of capital expenditure to build five new factories until 2018.
President Director of WSBP Jarot Subana explained that IDR1 trillion of the funds will be allocated for capital expenditure in this year. In 2017, WSBP will allocate IDR1.9 of the funds for investment, and the rest of IDR1 trillion will be allocated for investment in 2018.
According to Jarot, WSBP will complete the construction of two new factories in Klaten, Central Java and Palembang, South Sumatera with 100,000 ton per year and 250,000 ton per year of capacities, respectively.
Both factories will increase WSBP production capacity from 2.3 million ton per year to 2.65 million ton per year.
Starting from next year, the subsidiary of PT Waskita Karya Tbk will build three new factories in North Sumatra, East Kalimantan, and Sulawesi. Each of factories will have 300,000 ton per year of production capacity. Therefore, within two years WSBP will have 13 factories with total of production capacity amounts to 3.8 million ton per year.
Recently, the sales in Java still contribute to 70% of WSBP sales composition. “After the construction of the new factories, sales composition in out of Java areas will increase from 30% to 40%” Jarot said.
Raises the target
WSBP also targets to increase the amount of projects’ contracts from IDR7.6 trillion to IDR8 trillion in this year. According to Jarot, as of September 2016 the total value of new contract signed by WSBP is nearing to IDR7 trillion.
During IPO on yesterday (20/9), WSBP’s share price increased by 10.24% to IDR540 per a share. WSBP issued 10.5 billion of shares or 40% of its shares with initial price at IDR490 per a share.
(Muhammad Farid/Translator)
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