clairvoyant works

Jakarta –

The performance of BUMN Karya is again in the spotlight. One of the state-owned enterprises, PT Wijaya Karya (Persero) Tbk (WIKA), has reportedly submitted a postponement of debt payments to the bank.

This followed PT Waskita Karya (Persero) Tbk (WSKT) which was said to have received approval to postpone bond payments. Then, how is the performance of BUMN Karya?

As quoted from the information disclosure on the Indonesia Stock Exchange (IDX), Tuesday (23/5/2023), WIKA posted a net loss of IDR 521.25 billion in the first quarter of 2023. This achievement was inversely proportional to the first quarter of the previous year which posted a net profit of IDR 1. 32 billion.

The company’s net income was recorded at Rp 4.34 trillion. The company’s revenue increased compared to the same quarter last year of Rp 3.16 trillion. However, the cost of revenue in the first quarter of 2023 was recorded at IDR 4.02 trillion, or higher than the same period last year of IDR 2.80 trillion.

Total liabilities were recorded at Rp 55.76 trillion in the first quarter of 2023 or decreased compared to the previous year’s quarter of Rp 57.57 trillion. These liabilities consist of short-term liabilities of IDR 34.07 trillion and long-term liabilities of IDR 21.69 trillion.

Next, Waskita Karya recorded a net loss of IDR 374.93 billion in the first quarter of 2023. This net loss decreased compared to the first quarter of 2022 of IDR 830.63 billion.

The company’s operating income was recorded at Rp 2.73 trillion in the first quarter of 2023, a slight decrease compared to the same period last year of Rp 2.74 trillion. Then, the cost of revenue in the first quarter of 2023 was recorded at IDR 2.33 trillion, a decrease from the previous IDR 2.41 trillion.

Meanwhile, total liabilities were recorded at IDR 84.37 trillion, an increase from the previous IDR 83.98 trillion. These liabilities consist of short-term liabilities of IDR 21.23 trillion and long-term liabilities of IDR 63.13 trillion.

Furthermore, PT Adhi Karya (Persero) Tbk (ADHI) pocketed a net profit of IDR 8.45 billion. This net profit increased compared to the first quarter of 2022 of IDR 7.10 billion.

Although net profit has increased, the company’s revenue has decreased. Adhi Karya’s operating income was recorded at IDR 2.66 trillion in the first quarter of 2023, or down from the same period the previous year of IDR 3.78 trillion.

Cost of revenue was recorded to have decreased from IDR 3.45 trillion in the first quarter of 2022 to IDR 2.33 trillion in the first quarter of 2023.

In terms of liabilities, Adhi Karya recorded IDR 30.29 trillion in the first quarter of 2023, down from the previous IDR 31.16 trillion. Meanwhile, Adhi Karya’s short-term liabilities amount to IDR 23.37 trillion and long-term IDR 6.91 trillion.

Furthermore, PT PP (Persero) Tbk (PTPP) scored a net profit of IDR 34.22 billion in the first quarter of 2023. The company’s net profit has increased compared to the same period last year of IDR 28.17 billion. The net profit is in line with the increase in operating income from Rp 4.28 trillion previously to Rp 4.36 trillion.

However, total liabilities increased from IDR 42.79 trillion to IDR 43.81 trillion in the first quarter of 2023. These liabilities consisted of short-term liabilities of IDR 26.61 trillion and long-term IDR 17.19 trillion.

Quoted from Bloomberg, WIKA is said to have asked the bank to postpone payment of its obligations. One executive said the company was trying to reset debt and strengthen its capital.

Meanwhile, last February, PT Waskita Karya (Persero) Tbk received approval from investors to postpone the payment of three rupiah-denominated bonds.

This has raised concerns about the impact of infrastructure development being boosted by President Joko Widodo (Jokowi) on the national banking industry and the government’s ability to deliver projects in the future.

Also watch the video: BSI Data Suspected of Leaking, OJK-BUMN Asked to Intervene!

(acd/the)