Waskita Karya's Loss Predicted To Drop To Rp1.1 Trillion

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JAKARTA - President Director of PT Waskita Karya (Persero) Tbk Destiawan Soewardjono estimates that his company's losses will drop to Rp1.1 trillion in 2022 from the previous Rp1.84 trillion in 2021.

"The interest expense is estimated to be quite large due to the debt burden, resulting in a net loss of IDR 1.1 trillion," he said in a hearing (RDP) with Commission VI of the DPR RI, quoted from Antara, Monday 27 June.

Business revenue throughout 2022 is targeted to reach IDR 29.44 trillion or grow to more than double from 2021 which amounted to IDR 12.22 trillion.

As of March 2022, Waskita Karya's operating income has reached Rp2.7 trillion and a net loss of Rp968 billion.

Waskita Karya proposes to get a state capital investment (PMN) worth IDR 3 trillion which will be used to build the Kayu Agung-Palembang-Betung Toll Road and the Ciawi-Sukabumi Toll Road.

The rights issue is expected to return the ownership structure to 68 percent of the government and 34 percent of the public with funds from the public estimated at Rp3.9 trillion.

Thus, Waskita Karya's net loss in 2022 is estimated to be IDR1.13 trillion and in 2023 it is expected to earn a profit of IDR131 billion.

"We can describe the impact of granting PMN and rights issue in the medium- or long-term plan of five years, which has experienced a significant increase compared to the scenario without PMN and rights issue," he said.