WIKA Concrete Asset Divestment, Plans To Sell Boyolali Factory Next Year
JAKARTA - PT Wijaya Karya Beton Tbk (WTON) plans to take divestment steps on a number of unproductive assets as part of a strategy to maintain cash flow and strengthen financial fundamentals.
Director of Finance, Human Capital & Risk Management of WIKA Beton Syailendra Ogan revealed, Boyolali concrete factory, Central Java, is one of the assets to be released.
Even so, the sales plan is expected to be realized next year.
"For now, we have planned a Boyolali factory, but it is not targeted this year. We have applied for permission to sell it, only our target is 2026," Syailendra said in a Public Expose Live 2025, Tuesday, September 9.
In addition to the Boyolali factory, the company has also prepared divestments of a number of fixed assets that are considered unproductive.
Based on the financial statements at the end of June 2025, the company has 10 concrete product factories spread across a number of areas, including Karawang, Lampung, Bogor, Majalengka, Pasuruan to Subang.
The divestment move is considered to be one of the initiatives to improve the company's cash flow.
The reason is, until the first semester of 2025, the final balance of cash and cash equivalents of WTON reached Rp194.59 billion, down 67.44 percent from the position at the end of 2024 of Rp597.55 billion.
In addition, the company's operating cash flow also recorded a negative result of minus IDR 159.46 billion.
This achievement reversed from a surplus of IDR 262.01 billion last year.
In addition to planning divestment, said Syailendra, WTON also carries a cash acceleration program to improve the company's cash condition.
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Salah satu upayanya dengan mempercepat perputaran piutang usaha.
"Kami lakukan pertama adalah menjaga rasio piutang dan ketersediaan. Ini menjadi fokus kami, sehingga harapannya nanti di Oktober atau November kami bisa memberikan kas operasi positif," katanya.
Entitas anak PT Wijaya Karya (Persero) Tbk (WIKA) itu turut memastikan setiap kontrak yang dijalankan bakal disertai dengan uang muka.
Hal tersebut dinilai dapat membantu memperkuat arus kas perusahaan ke depan.
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One of his efforts is to accelerate the circulation of business receivables.
"We do the first thing is to maintain the ratio of receivables and availability. This is our focus, so hopefully later in October or November we can provide positive operating cash," he said.
The subsidiary of PT Wijaya Karya (Persero) Tbk (WIKA) also ensures that every contract that is implemented will be accompanied by a down payment.
This is considered to help strengthen the company's cash flow going forward.