PT Waskita Karya (Persero) Tbk carried out a rights issue in early December 2022 and received government support. It was done after the Company had successfully implemented eight streams of financial restructuring since 2021, The Government will provide State Capital Investment (PMN) of IDR Three Trillion for the completion of several toll roads.
"This trust given is the Government's full support for Waskita in supporting the Government's program to accelerate national infrastructure development," said PT Waskita Karya Main Director Destiawan Soewardjono.
Destiawan stated that Waskita will continue to focus on improving financial and operational performance by carrying out corporate actions. One of them is the receipt of PMN and the implementation of the 2022 rights issue. The target for obtaining funds from the government and the Public is IDR 3.98 trillion
"This rights issue is an effort to increase capital through the market corporate actions by maintaining Waskita's capital. After receiving additional capital through PMN, Waskita's rights issue is also a step so that the portion of public shares is not delusional by 23 percent," he said.
According to Destiawan, this is an opportunity for the existing public portion of shareholders to take part in Waskita's rights issue, because the Government as the majority Shareholder believes in our performance and fully supports Waskita by adding Rp3 trillion in additional capital.
The price for implementing the rights issue will be set by the Minister of BUMN after receiving a proposal from the Privatization Team of the Ministry of BUMN and the Joint Lead Arranger (JLA). Currently, Waskita is in intensive discussion with the Ministry of BUMN and JLA regarding the price proposal for the rights issue.
"The series of rights issue implementations can be completed before the closing of 2022. Furthermore, in 2023, the Company will focus on completing toll road projects, accelerating other national strategic projects such as the IKN project, and increasing the value of new contracts," concluded Destiawan
SVP Corporate Secretary of the Company, Novianto Ari Nugroho explained that until October 2022 Waskita had succeeded in obtaining a New Contract Value (NKB) with a total of IDR 13.38 trillion. This achievement increased 10.64% YoY (year on year) compared to the same period in 2021 IDR 12.09 trillion.
"Several projects with the largest contribution as of October 2022 are still dominated by IKN projects, such as the Presidential Secretariat Building and supporting buildings in the Presidential Palace area, IKN Toll Road Intersection Tempadung-Balang Island Bridge Segment, IKN Work/Logistics Road Development Packages for the Sepaku Ring Road Segment. 4 with a total contract value of IDR 2.55 trillion. Apart from the IKN, there is the construction of the Umbulan Regional SPAM network in East Java Province worth Rp. 115 billion," concluded Novianto.
