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Cibitung Toll Road Construction Collapsed, Here’s the Fate of WSKT-WSBP Shares

Jakarta, CNBC Indonesia – Construction on the Cibitung-Cilincing Section IV Toll Road construction project, North Jakarta collapsed. PT Cibitung Tanjung Priok Port Tollways (CTP) as the manager informed that the incident took place during the casting activity on Sunday, August 16, 2020.

After the news came out, there was no significant impact on the movement of the share price of state-owned construction companies, especially PT Waskita Karya Tbk (WSKT) and also PT Waskita Beton Precast Tbk (WSBP).

CTP is a Toll Road Business Entity (BUJT) which is under the auspices of as well as a subsidiary of PT Waskita Toll Road (WTR) as the majority shareholder. The composition of the company’s shareholders as of 31 December 2017 consists of Waskita Toll Road at 55% and PT Akses Pelabuhan Indonesia at 45%.

IDX data records, WSBP’s share price has actually increased. WSBP shares at 13:50 WIB, Tuesday (18/8/2020), traded in the green zone with an increase of 2.37% to the level of IDR 173 / share.

Even before the closing of the first session, WSBP’s share price had risen to IDR 175 / share. Total transactions in WSBP shares today amounted to Rp 17 billion, with a frequency of 2,777 times and a volume of 101 million shares. In the last month, WSBP’s shares fell by 15.87%.

Meanwhile, WSKT shares rose 2.34% to IDR 655 / share, with a transaction value of IDR 33.13 billion with a trading volume of 50.29 million shares. The last month WSKT shares were minus 8.97%.

President Director of CTP, Thorry Hendrarto, explained that the collapse of the project was in Section IV of Marunda Village, Cilincing, North Jakarta.

“The main cause of the incident is currently being evaluated by PT Waskita Beton Precast as the contractor and project leader of PT Cibitung Tanjung Priok Tollways,” said Thorry Hendrarto in his statement, quoted as saying. CNBC Indonesia, Tuesday (18/8/20).

Previously, Waskita Beton Precast recorded as many as 8 workers injured as a result of the collapse of the project.

“Eight people with minor injuries,” said acting Corporate Secretary of Waskita Beton Precast, Ales Okta Pratama. detikcom.

“Waskita Beton Precast apologizes to all parties, especially those who were disturbed by this incident,” said Ales Okta.


[Gambas:Video CNBC]


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