WIKA Will Merge With PTPP, Management: Wait For Shareholder Decision

Illustration (Photo: Doc. Antara)

JAKARTA - PT Wijaya Karya (Persero) Tbk (WIKA) is rumored to be merging with PT Pembangunan Perumahan (Persero) Tbk (PTPP) is open.

Related to this, Wijaya Karya's Director of Finance and Risk Management Adityo Kusumo said the certainty was still waiting for the discussion of shareholders.

"Regarding corporate actions, of course, the domain is in the shareholders. So, from the management side, we just follow," Adityo said in the Public Expose Live 2023, Monday, November 27.

Adityo admitted that the management was still waiting and waiting for the corporate steps to be taken in the future.

"Until now, we are still both waiting for an explanation, but we are just on standby," he added.

It is known that State-Owned Enterprises (BUMN), especially BUMN Karya, are in the spotlight. During the first semester of 2023, five state-owned companies were recorded as having total liabilities or large debts.

The five companies are PT Waskita Karya (Persero) Tbk (WSKT), PT PP (Persero) Tbk (PTPP), PT Wijaya Karya (Persero) Tbk, PT Adhi Karya (Persero) Tbk (ADHI), and PT Hutama Karya (Persero).

If the total BUMN Karya recorded in the financial statements of the Indonesia Stock Exchange (IDX) reaches IDR 274.82 trillion.

Meanwhile, BUMN Karya's special debt at state-owned banks reached IDR 46.21 trillion.

Meanwhile, Minister of State-Owned Enterprises (BUMN) Erick Thohir will make improvements to state-owned companies in the work sector. One way is by consolidating.

Erick said the consolidation process would be divided into two segments.

Small-scale SOEs will be handed over to PT Asset Management Company (PPA). Meanwhile, Danareksa is for mergers or business mergers.

"Consolidation of BUMN Karya will certainly occur, which has not yet been decided. But the framework seems to be in the Danareksa PPA because of the small ones in the merger," he said at the Ministry of SOEs, Jakarta, Wednesday, May 3.

Furthermore, Erick said, for large-scale companies, such as Hutama Karya (HK), Waskita Karya (WSKT), Wijaya Karya (WIKA), PT PP, and Adhi Karya are still under discussion.

"If (BUMN Karya) has a large ownership system. Like Waskita and HK, like Bank Mandiri has BSI. Even though it is below the merger, this decision has not yet happened," he said.