Waskita Beton Prepares Three Focus Strategies In 2023

Photo: Doc. Antara

JAKARTA - PT Waskita Beton Precast Tbk (WSBP) revealed its three strategic focuses for 2023 and the long term.

"The focus of the WSBP strategy this year and in the long term, first is the focus on Operational Excellence. Here we are working to improve cost leadership and ramp operations, improve liquidity conditions, improve the cash conversion cycle ratio," said WSBP Director of Finance and Risk Management Asep Mudzakir, quoted from Antara, Tuesday, March 28.

According to Asep, if you look at this first focus, the conclusion is that the business that generates profits and profits is liquid.

The focus of WSBP's second strategy is to focus on Business Nourishment by strengthening competitiveness and increasing market share, divesting and/or strategic partnerships to increase the productivity of all company assets, strengthening WSBP brand image.

"The big point here is how WSBP can optimize its assets, both tangible and intangible assets," said Asep.

The third focus of strategy is the focus on Technology and Digitalization through increasing investment in research and development, digitizing 90 percent of business processes, and implementing integrated data management.

Asep said that information technology and digitization play an important role.

Previously, WSBP was optimistic about the 2023 performance, with a target of obtaining a new contract value of IDR 3.8 trillion.

WSBP Director of Engineering & Development Bambang Dwi Wijayanto said, WSBP is optimistic that the market expansion strategy can be implemented properly this year.

Until the end of February 2023, WSBP managed to record a contract value of Rp. 358 billion. The acquisition of the new contract consisted of the PT Waskita Karya Group (Persero) Tbk (WSKT) project of 26 percent and an external market project of 74 percent.

The larger portion of external projects is in accordance with the marketing expansion strategy chosen by the WSBP.

The market expansion strategy was implemented in order to improve the company's overall performance and provide added value for shareholders. This is in line with the resumption of WSBP stock trading on the stock exchange market since March 17, 2023.