Loss of Rp. 7.38 Trillion, Waskita Boss Bluntly Reveals the Cause Page all

JAKARTA, KOMPAS.com – Throughout 2020, PT Waskita Karya (Persero) Tbk recorded a bad performance which was indicated by loss net of Rp. 7.38 trillion.

In fact, in 2019, company only incised a net loss of Rp. 872 billion.

Waskita Karya President Director Destiawan Soewardjono explained that the loss was due to a delay in the process divestment 5 roads tolls owned by the company.

The divestment process failed due to the Covid-19 Pandemic.

“So, due to the Pandemic (Covid-19), in 2020 there should be five segments that we divested. But, we failed because the investor delay, “explained Destiawan in the Measuring webinar Infrastructure Waskita, Thursday (08/04/2021).

He continued, the company plans to release nine segments Highway in 2021.

If the process toll road divestment successfully done, the company’s debt burden will be reduced.

Also read: As of December 31, 2020, Waskita has managed contracts worth IDR 66 trillion

In a note Kompas.comThe nine toll roads are divided into five regions, namely, three toll roads located in Jabodetabek.

Then, one segment in West Java Province, two segments in Sumatra Island, two segments in the network Toll Trans-Java, as well as one segment in East Java with a total length of more than 480 kilometers.

“We are optimistic that the divestment will be carried out, after 1 (toll segment divestment) is realized, there are many investors who want to acquire Waskita segments,” continued Destiawan.

To note, the company has a debt burden of Rp 90 trillion at a time flower IDR 4.7 trillion.

Meanwhile, Waskita Karya Finance Director Taufik Hendra Kusuma added, if the divestment of 9 toll roads is successful, Waskita Karya’s debt could be cut by Rp 20 trillion.

Thus, it will also reduce the company’s interest expense.

“We got fully-support from Ministry of BUMN, Ministry of Finance also in the process support too, banking We are also quite intensive (communication), “said Taufik.

If the divestment of the 9 toll roads is agreed upon, the interest expense borne by the company will decrease.

“Especially it (interest expense) which is a significant factor performance last year, “Taufik concluded.

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