Waskita Karya Cancels Getting Fresh Funds Of IDR 3 Trillion, This Is What President Director Mursyid Said

Illustration (Photo: Doc. Antara)

JAKARTA - PT Waskita Karya Tbk canceled receiving a fresh injection of funds from the government worth IDR 3 trillion.

The funds that have been received by the issuer codenamed WSKT will be returned to the state treasury.

The cancellation of PMN is stated in the Letter of the Minister of State-Owned Enterprises Number S-410/MBU/08/2023 dated August 2, 2023 regarding the Cancellation of the State Capital Participation Fund for the 2022 Fiscal Year PT Waskita Karya (Persero) Tbk.

Responding to this, Waskita Karya President Director Mursyid said the funds would be returned to the state treasury.

"The Privacy Committee through the letter above has approved and decided to return PMN FY 2022 funds of IDR 3 trillion to the Company to the State General Cash Account and the Company's Rights Issue/Privatization process is not continued," he said in a public information disclosure of the Indonesia Stock Exchange (IDX), quoted Monday, August 7.

Furthermore, Mursyid said the cancellation of the PMN had an impact on the company's budget work plan (RKAP).

"For the Cancellation of PMN Funds, FY 2022 has an impact on RKAP, however, the Company will continue to be committed to improving financial performance," he said.

In exchange for the cancellation of PMN, Mursyid said Waskita Karya would prepare strategic steps for the completion of 2 (two) toll roads which are the destination for the use of PMN FA 2022 Waskita, namely the Kayu Agung-Palembang-Betung toll road and the Ciawi-Sukabumi toll road.

"As well as coordinating with stakeholders in finding alternative funding sources for project completion so that determined performance targets can be achieved," he explained.

For your information, the plan to increase capital for Waskita Karya has actually been rolling since last year.

At that time, WSKT was expected to be able to obtain fresh funds of up to a total of IDR 3.98 trillion through PMN and rights issue schemes.

In detail, Rp3 trillion comes from SOEs and Rp0.98 trillion from the portion of public funds.