Waskita Karya Book New Contracts IDR 16.9 Trillion in 2023

CORPORATE ACTION - JAKARTA. PT Waskita Karya Tbk (WSKT) recorded a new contract value of IDR 16.9 trillion in 2023.

WSKT's Finance Director Wiwi Suprihatno said, the company has implemented a risk committee whose one of the tasks is to maintain the selection of new projects to be more profitable and sustainable.

“We focus on the monthly payment scheme and accompanied by a down payment to maintain the company's cash flow stability,” he told Kontan, Tuesday (6/2).

From the achievement of the new contract value in 2023, based on project ownership, it is dominated by government projects by 61.66%.

Then, state-owned enterprises/regional-owned enterprises projects by 21.75%, subsidiary development by 16.00%, and private sector by 0.60%.

“Meanwhile, based on project segmentation, namely infrastructure connectivity by 55.24%, building projects 16.95%, water resource projects 13.28%, and subsidiaries 14.27%,” he explained.

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WSKT set a target for new contract value in 2024 relatively the same as in 2023. 

“The target is moderate with single digit growth, a maximum of 10% from the current new contract value (in 2023),” he revealed.

Wiwi stated, more than 50% of WSKT's target market is in the government segment. WSKT is also still selective for targeted projects, namely projects with a Monthly Payment scheme and a Down Payment.

 

”The capex budget is still under discussion by management. Currently, WSKT is still focused on restructuring, completion of on-going projects and governance improvement,” he said.

According to Wiwi, WSKT is currently focusing on restructuring completion to maintain liquidity. For the political year, WSKT also remains focused on improving performance in 2024. 

In addition, WSKT also targets the government and private markets in the acquisition of new contract values in 2024. 

“Up to now, restructuring approval has been reached by 21 creditors out of a total of 21 creditors of the current Master Restructuring Agreement (MRA),” he revealed.