Waskita Karya's Stock Price Falls 58% Year-on-Year (YoY)

Based on the Indonesia Stock Exchange (BEI) announcement No. Peng-00023/BEI.POP/01-2022, the construction company PT Waskita Karya (Persero) Tbk's shares have been included in the LQ45 and IDX30 indices. However, the share price of this State-Owned Enterprise (SOE) construction company, with the stock code WSKT, has shown a downward trend over the past year.

WSKT's share price closed down 0.76% to Rp650 per share at the end of last week's trading, Friday, February 11, 2022, compared to the previous closing price.

Compared to its position at the end of 2021, WSKT's share price recorded a 2.3% increase. However, compared to its position on February 11, 2021, the shares of this SOE construction company have plummeted by more than 58% (Year on Year/YoY).

Based on the financial report as of September 2021, Waskita Karya recorded a net profit attributable to the parent company of Rp252.71 billion for the January-September 2021 period. This figure improved compared to the same period the previous year, where Waskita Karya experienced a loss of Rp2.64 trillion.

Until the end of 2021, WSKT also successfully secured new contract values of Rp20.51 trillion. This year, WSKT is targeting new contract acquisitions of Rp30 trillion.

Based on WSKT's public disclosure submitted to the Indonesia Stock Exchange on February 10, 2022, the SOE construction company provided a cash loan to its subsidiary, PT Waskita Toll Road (WTR), worth Rp6.42 trillion.

This loan from Waskita Karya to its subsidiary will be used, among other things, for capital contributions to PT Waskita Toll Road (EST), PT Trans Jabar Tol (TJT), and PT Waskita Bumi Wira (WBW).