Waskita Karya Targets New Contracts Worth Rp30 Trillion in 2022

Waskita Karya (Persero) Tbk secured new contracts worth Rp20.5 trillion throughout 2021. This achievement is lower than the previous year's contract value of Rp27 trillion.

For 2022, the issuer with the trading code WSKT is targeting new contracts in the range of Rp25 trillion to Rp30 trillion.

Based on the published financial statements, WSKT recorded a net profit attributable to the parent company of Rp272.71 billion for the period January-September 2021. This is better than the previous year, which experienced a loss of Rp7.28 trillion.

Previously, Waskita had fully repaid its Outstanding Bonds II Waskita Karya Phase III 2017 Series B, which matured on February 21, 2022, with a principal of Rp910 billion and interest of Rp20.47 billion. The payment of this obligation was made using the company's internal cash.

Waskita also undertook a corporate action by issuing a rights issue in December 2021, although only Rp9.44 trillion was achieved out of the total target of Rp11.93 trillion.

The Indonesian government, as the controlling shareholder, exercised its rights in the rights issue by absorbing new shares worth Rp7.9 trillion through State Capital Participation (PMN). The public only absorbed Rp1.54 trillion.

(Also Read: [Waskita Karya's Share Price Down 58% in the Last Year (YoY)])