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Waskita Karya Still Trusted by the Government, Despite Rp2 Trillion Loss in the First Half of 2023

Adi Ahdiat 03/08/2023 18:30 WIB

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Waskita Karya reported a loss of Rp2.07 trillion in the first half of 2023. Despite this, in June 2023, this state-owned enterprise was still entrusted by the government to undertake a number of new

Waskita Karya's Income Statement for Semester I (2022-2023)

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Waskita Karya Still Trusted by the Government, Despite Rp2 Trillion Loss in the First Half of 2023

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Waskita Karya's Income Statement for Semester I (2022-2023)

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PT Waskita Karya Tbk (WSKT) reported a loss attributable to the company's owners of Rp2.07 trillion in the first half of 2023.

This figure is up 776%, or approximately eight times higher, compared to the loss in the first half of last year.

Despite posting a significant loss, this state-owned construction company (BUMN) continues to enjoy government trust.

"Alhamdulillah, the government still trusts us by appointing Waskita to work on national strategic projects," said Ermy Puspa Yunita, SVP Corporate Secretary of Waskita Karya, in a press release on Tuesday (18/7/2023).

According to Ermy, in June 2023 Waskita Karya successfully booked new contracts worth Rp7.82 trillion, with the majority (66.24%) coming from government projects.

New contract values also originated from subsidiaries' projects (18.85%), SOE/regional SOE projects (13.62%), and private projects (1.29%).

Ermy also revealed that the company is currently focusing on working on seven packages of projects for the new Capital City (IKN), with Waskita Karya's portion valued at Rp4.33 trillion.

Some of the IKN projects undertaken by Waskita Karya are:

* IKN Toll Road Section 5A project;
* Sepaku Ring Road Segment 4 project;
* Presidential Secretariat Building and Supporting Building Facilities project;
* Coordinating Ministry Building and Area Package 3 project;
* Coordinating Ministry Building and Area Package 4 project;
* Wastewater Treatment Plant (IPAL) 1, 2, and 3; and
* Feeder Road Project for the Core Central Government Area (KIPP)

Waskita Karya's management stated that they are currently focusing on improving capabilities in human resources, value engineering, and the development of technology and digitalization.

"We have started implementing this in ongoing projects, especially in the IKN projects. The company also employs more than 60% local workers in IKN projects," said Ermy.

She also mentioned that Waskita Karya is committed to improving good corporate governance and careful risk management in every line of the company.

"Currently, the company is very selective in choosing projects, especially regarding payment certainty, including advance payments and monthly payments, and has gone through the Construction Risk Management Committee," said Ermy.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Waskita Karya Still Trusted by the Government, Despite Rp2 Trillion Loss in the First Half of 2023

Waskita Karya Still Trusted by the Government, Despite Rp2 Trillion Loss in the First Half of 2023

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Waskita Karya Still Trusted by the Government, Despite Rp2 Trillion Loss in the First Half of 2023

Waskita Karya Still Trusted by the Government, Despite Rp2 Trillion Loss in the First Half of 2023

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