Waskita Takes Strategic Steps To Healthy Finance

JAKARTA - PT Waskita Karya (Persero) Tbk is making comprehensive and sustainable improvements.

This step was taken by the company for the sake of restoring the company's finances.

Waskita Karya President Director Mursyid said the improvements were in accordance with Waskita's Transformation Program by carrying three pillars, namely Portfolio & Innovation, Lean and Digitalization.

"Currently, the Company is very selective in choosing projects, especially in terms of payment certainty, there are down payment and monthly payment and it has gone through the Construction Risk Management Committee so that it is hoped that the projects obtained by Waskita can run smoothly and on time and have a positive impact on the company's performance," he said in Jakarta, Wednesday, August 9.

In addition, said Mursyid, the concept of lean and digitization is also carried out so that the Company in running its business can be effective and efficient so that it can reduce costs that are not needed.

The company is centralizing procurement, engineering, and implementing lean construction on ongoing projects and efficiency in operating costs and reorganization as the concept of lean office. This is done so that the Company's business process becomes more efficient and agile," said Mursyid.

Mursyid emphasized that digitalization is very important. In addition to being more efficient, of course, as a form of increasing the implementation of good corporate governance, especially in terms of transparency.

The implementation of digitalization in the issuer coded WSKT includes the implementation of SAP, ERP and BIM.

The implementation of SAP (System Analysis and Product in Data Processing) and ERP (Entreprise Resource Planning) digitalization is intended so that all costs can be more controlled and transparent because of a real-time integrated system. The company also implements BIM in each project and is able to work very efficiently so that project work can be completed faster," said Mursyid.

Not only that, said Mursyid, the Company is also preparing a strategy for the completion of the National Strategic Project (PSN) work, especially the Toll Road project. Among the completion of toll road projects, namely the Bogor-Ciawi-Sukabumi and Kayu Agung-Palembang Betung toll roads, which are planned to use PMN funds.

The reason related to the delay in disbursing PMN 2022 funds of 3 trillion is because Waskita is in the Master Restructuring Agreement review process to comprehensively restructuring the Company's financial structure.

"Currently, the Company is in intensive discussion with creditors both with banks and bond holders in the comprehensive review process of the Master Restructuring Agreement (MRA) modification scenario so that this year's PMN fund administration cannot be carried out," said Mursyid.

In addition, other improvements made are the implementation of the implementation of SNI ISO 37001:2016 concerning Anti-Bribery Management Systems, realizing Waskita Karya which complies with applicable laws and regulations, is clean and with integrity and supports efforts to prevent corruption.

Improving and improving every business process in line with the principles of Good Corporate Governance (GCG) and implementing Zero Tolerance principles against violations of laws and regulations related to criminal acts of corruption.

This includes the implementation of the Whistle Blowing System which aims to detect the incident early.

Through this team, the Company prevents fraud with a comprehensive control pattern and involves all employees so as to provide a sense of security for all parties interacting with the Company.

Mursyid said the Company continues to be committed to strengthening the implementation of corporate governance (Good Corporate Governance) and business transformation by prioritizing profitable, sustainable, and strengthening risk management businesses.

Among them are by implementing the SMAP (Anti-bribery Management System), Whistle Blowing System and the GCG Assessment on a regular basis that is integrated with the KPK.

"All efforts to improve and the Transformation Program being carried out by the Company are to improve the company's overall performance and performance," he said.

"With all the conditions experienced by the Company at this time, we continue to be committed to carrying out our operations properly and remain focused on completing ongoing projects and continuing to carry out good governance," concluded Mursyid.