Boosting Non-Investment Business, Waskita Sells Becakayu Toll Road in November 2020

JAKARTA, KOMPAS.com – PT Clairvoyant Karya (Persero) Tbk will increase the portion of non- investation or conventional Year 2021.

President Director of PT Waskita Karya (Persero) Tbk Destiawan Soewardjono said that increasing conventional business is expected to be obtained from government and private projects so that there is a balance with the investment business.

“This is part of Waskita’s future development strategy. We will increase the acquisition of new contracts from non-investment, especially the majority of business subsidiaries,” said Destiawan. Kompas.com.

This step to increase non-investment business begins with divestment lima streets toll roads in 2020. However, this target may not be achieved due to the Covid-19 Pandemic.

Therefore, the sections whose divestment process may be completed this year are the Bekasi-Cawang-Kampung Melayu (Becakayu) Toll and the Cibitung-Cilincing Toll Road.

According to the Director of Business Development Waskita Karya, Fery Hendriyanto, the divestment process for the Becakayu Toll Road will be completed in mid-November 2020.

“Meanwhile, the Cibitung-Cilincing Toll Road is in the final stages of negotiations with potential investors. Hopefully the end of November or early December 2020,” said Fery.

Also read: Postponed from Schedule, 3 Trans Java Toll Roads Released by Waskita in July

Previously, the sale and purchase agreement (PPJB) for the release of 30 percent of the Company’s ownership in PT Kresna Kusuma Dyandara Marga (KKDM) through a limited participation mutual fund (RDPT) instrument was signed.

KKDM is a toll road business entity (BUJT) that develops and manages the Becakayu Toll Road. With the PPJB, Waskita owns 99.7 percent of KKDM shares.

While the other three segments are removed with the scheme asset swap with PT Savings and Civil Servant Insurance (Persero) or Taspen and PT Sarana Multi Infrastruktur (SMI).

Fery said that this divestment could be implemented in 2021 because it was hampered by licensing problems from the Ministry of Finance.

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