Wika Beton to distribute US$6.12 million dividend

JAKARTA. State-owned precast concrete maker PT Wijaya Karya Beton Tbk (Wika Beton), a subsidiary of PT Wijaya Karya Tbk (Wika), will distribute Rp 81.7 billion (US$6.12 million) or Rp 9.8 per share in dividends in 2017 after the company earned a higher net income.

The dividends to be distributed equal 30 percent of the 2016 net income worth Rp 281.57 billion or a 63.91 percent increase from the figure in 2015, which was Rp 171.78 billion, said Wika Beton corporate secretary Puji Haryadi in Jakarta on Monday.

"We will distribute the dividends in April," Puji said during a shareholders meeting as reported by kontan.co.id.

The company's revenue rose 31.26 percent last year to Rp 3.48 trillion from Rp 2.65 trillion in 2015.

In 2017, the company hopes to sign new contracts worth Rp 6.29 trillion, which is 4.8 percent higher than last year's figure, which was Rp 6.01 trillion.

Newly appointed marketing director Kuntjara said 30 percent of the contracts would be in the energy sector. "We will target power plants and refinery projects," he said as quoted by kompas.com.

Wika Beton is also eyeing the Tuban refinery expansion project and the New Grass Root Refinery (NGRR) in Bontang.  The company has already signed contracts on the expansion of steam power plants in Cilacap, Tanjung Jati, Muara Karang and Banten Lontar.

The Cilacap project is worth Rp 125 billion, Tanjung Jati project Rp 50 billion, Banten Lontar project Rp 40 billion and Muara Karang project Rp 30 billion," (Anh/bbn)