BP BUMN Opens Voice About Waskita Karya Go Private Options

Waskita (Photo: Waskita)

JAKARTA - The State-Owned Enterprises (BP) has opened their voices about the option to go private, PT Waskita Karya Persero) Tbk, in line with the plan to integrate state-owned companies in the work sector.

Deputy Head of BP BUMN Aminuddin Ma'ruf said the merger process, holding, disbandment, and formation of SOEs were under their authority. Currently, all of these processes are still in the study stage.

Aminuddin said, the study process was carried out to pursue the target of completing the merger of BUMN works in December 2025.

"We are currently reviewing how the BUMN Karya group merged. Hopefully, this December will be completed," Aminuddin said in Jakarta, Wednesday, November 19.

Regarding Waskita Karya's option to become a private company, Aminuddin did not directly disclose the plan. However, he confirmed that he would form a cluster for BUMN Karya.

Furthermore, Aminuddin said that in the process of merging BUMN works, BP BUMN continues to coordinate with the Anagata Nusantara Power Investment Management Agency (BPI Danantara).

"Yes, just wait, yes, there will be us making a cluster of several SOEs for the SOEs. God willing, December will be finished. We are also working with a team in Danantara as well, to ensure that the process runs," said Aminuddin.

For your information, there are seven SOEs that will be merged, namely PT Waskita Karya (Persero) Tbk. PT Hutama Karya (Persero), PT Brantas Abipraya (Persero), PT Nindya Karya (Persero), PT Adhi Karya (Persero) Tbk, PT Wijaya Karya (Persero) Tbk, PT Pembangunan Perumahan (Persero) Tbk.

The plan is that there are three clusters, PT Waskita Karya (Persero) Tbk and PT Wijaya Karya (Persero) Tbk will join PT Hutama Karya (Persero). Then, PT Pembangunan Perumahan (Persero) or PTPP will be merged with PT Adhi Karya (Persero) Tbk. Then, for Brantas Abipraya will be combined with Nindya Karya.

Previously, Waskita Karya President Director Muhammad Hanugroho revealed that Waskita's merger with other state-owned enterprises would be completed no later than next year. Currently, the corporate action plan is in the process of being studied with Danantara Asset Management.

"I think maybe this will be executed next year. The final will be next year, but this can be done quickly next year," said Hanugroho at the Public Expose 2025, Tuesday, November 4.

Hanugroho explained that the consolidation process takes time to consider business readiness in each company to discussions related to human resources or employees.

Moreover, Waskita has the status of an open company whose shares are partly owned by the public.

"Moreover, there is a Tbk company, we have to pay attention to market responses or investors in the market, we also have to accommodate, what kind of response," he said.

Dalam proses rencana konsolidasi manajemen juga masih menunggu inteksi dari pemegang saham selanjutnya mengenai kemungkinan terjadinya perubahan status Waskita sebagai emiten.

"Because the discussion about us from going public to going private is very possible in our discussion. So, this is still the subject of the final results of the form of the integration consolidation structure," said Hanugroho.

"If for example there is, yes, for example, is this a holding-subholding form? Or is this indeed a merger? If it's a merger, right, it's different, for example from three companies or four companies to one. There is no single entity that will survive whose entity is that, right? We are still really studying it," he continued.