President Jokowi Signs IDR 6 Trillion PMN Gift For Wijaya Karya

JAKARTA - Indonesian President Joko Widodo officially signed a Government Regulation (PP) regarding the provision of additional State Capital Participation (PMN) for state-owned construction, PT Wijaya Karya (Persero) Tbk (WIKA) amounting to IDR 6 trillion.

Reported by Antara, Monday, April 1, the additional capital for Wijaya Karya (WIKA) is stated through PP Number 15 of 2024 concerning the Addition of State Equity Participation of the Republic of Indonesia to the Company's Share Capital (Persero) PT Wijaya Karya Tbk which was set in Jakarta on March 28, 2024.

In a copy of the PP seen on the jdih.setneg.go.id page, in Jakarta, Monday it was stated that the government provided additional capital to improve the capital structure and increase the company's business capacity in the context of completing the National Strategic Project through the issuance of new shares.

The provision of additional capital from the state into WIKA's share capital is also carried out to maintain the composition of state share ownership in the company.

The additional state capital given to WIKA comes from the State Revenue and Expenditure Budget for the 2024 Fiscal Year with a maximum amount of IDR 6 trillion.

"The value of additional state capital participation as referred to in Article 1 is a maximum of Rp. 6,000,000,000,000.00 (six trillion rupiah)," said the quote in Article 2 of the PP.

In the regulation, it was stated that the value of the addition of PNM was determined by the Minister of Finance Sri Mulyani based on the results of the implementation of the issuance of new shares submitted by the Minister of State-Owned Enterprises Erick Thohir.