Waskita Optimistic WTR Has Prospects for the Next Several Years

Waskita Optimistic WTR Has Prospects for the Next Several Years

PT Waskita Karya (Persero) Tbk fully supports the operations of its subsidiary, PT Waskita Toll Road (WTR), which is engaged in the toll road development business. Based on the rating results of PT Pemeringkat Efek Indonesia (Pefindo) this year, there was a change in the WTR rating from “idBBB-” with a “Stable” outlook to “idBBB-” with a “Negative” outlook. The decline in the "Negative" outlook is not an indication of a decline in performance or internal issues that occurred at WTR, but rather with the recent default situation of PT Waskita Beton Precast Tbk (WSBP). Waskita fully supports the WSPB restructuring process as the best option for Waskita Group's financial restructuring.

With the successful implementation of Waskita's "8 Streams of Financial Restructuring" strategy last year, especially with the State Capital Investment (PMN), currently, WTR is focusing on completing the construction of 7 existing toll roads. The 7 toll roads are Kayu Agung – Palembang – Betung, Ciawi – Sukabumi, Bekasi – Cawang – Kampung Melayu, Cimanggis – Cibitung, Pejagan – Pemalang, Pasuruan – Probolinggo and Krian – Legundi – Bunder – Manyar.

The Company's Director of Finance and Risk Management, Taufik Hendra Kusuma said, "We are optimistic that WTR's performance in the coming years will be much better. Armed with Government support through PMN 2021 has been allocated to WTR, WTR's funding source to complete 7 Toll road sections to a certain point is relatively safe for the next 2-3 years."

In addition, WTR as Company's subsidiary will also continue to support the "8 Streams of Waskita Financial Restructuring" strategy by completing toll roads that were previously delayed since the COVID-19 pandemic and streamlining the divestment process currently being carried out by the Company.

Waskita Karya

Waskita Karya

Leave a message