PT Waskita Karya (Persero) Tbk managed to book a New Contract Value (NKB) of Rp5.68 Trillion until March 2022, an increase of 395.87% YoY compared to last year's Rp1.14 Trillion. Compared to pre-COVID19 levels, the company managed to record a 3.30-times increase in NKB.
The NKB income came from private projects by 74.38%, the Government by 18.61%, and the Business Development of the Company's subsidiaries by 7.01%. Based on the project type segmentation, the NKB consists of the Infrastructure connectivity segment at 88.45%, the Company's subsidiaries by 7.01%, buildings by 3.31%, EPC by 0.75%, and the Water Resources (SDA) segment by 0.49%.
The Company's President Director, Mr. Destiawan Soewardjono explained that several projects with the Largest contribution until March 2022 were the 1000 KM Road Upgrading - South Sudan Oil for Infrastructure project amounting to Rp4.15 trillion, National Road (Road & Bridge) Blitar Regency amounting to Rp218.29 billion. New contracts through the Company's subsidiary Waskita Beton Precast in March 2022 amounting to Rp195.86 billion, the construction of the Medan Station Phase II amounting to Rp139.07 billion, and the Arrangement of the Taman Mini Indonesia Indah (TMII) area of Rp134.81 billion. Road Upgrading – South Sudan Oil for Infrastructure sebesar Rp4,15 Triliun, Jalan Nasional (Road & Bridge) Kabupaten Blitar sebesar Rp218,29 Miliar, Perolehan kontrak baru melalui anak usaha Perseroan Waskita Beton Precast pada bulan Maret 2022 sebesar Rp195,86 Miliar, Pembangunan Stasiun Medan tahap II sebesar Rp139,07 Miliar, dan Penataan Kawasan Taman Mini Indonesia Indah (TMII) sebesar Rp134,81 Miliar.
"Armed with the implementation of Waskita's 8 Streams Financial Restructuring strategy and full support from the Government, this year the Company can focus on running its operational business and is optimistic about achieving the 2022 NKB target of up to IDR 30 trillion," added Mr. Destiawan.
The Company's Director of Finance & Risk Management, Mr. Taufik Hendra Kusuma explained that the Company has obtained pre-effective OJK approval to carry out an initial offering of bonds and Sukuk with a Government guarantee of Rp3.83 trillion, which will be used for refinancing, and the Company's working capital. The bonds and Sukuk issuances have an "idAAA(gg)" rating with five and Seven-year tenors and are offered for a book building period from 12th - 19th April 2022.
"Bonds and Sukuk with government guarantees are a concrete form of government support for efforts to improve Waskita's performance," concluded Mr. Taufik.
