JAKARTA - PT Wijaya Karya Bangunan Gedung Tbk (WEGE), also known as Wika Gedung, is preparing a number of actions amid its consolidation efforts. The company plans to divest assets worth around IDR 40 billion in 2025, approaching its previously set divestment target.
WEGE President Director Hadian Pramudita explained that the assets to be divested are mostly located in Bandung. He said the assets to be divested are those with no development plans.
"This is approximately IDR 40 billion (divestment), and the target is, indeed, approximately IDR 40 to IDR 45 billion. Almost all of them are apartments, and most of them are located in Bandung," Hadian said at the 2025 Public Expose (Pubex) online on Friday, November 28.
This year, the company is also targeting the sale of several inventories, including apartments and some land currently recorded as fixed assets. Converting these assets to cash will improve the company's liquidity position.
According to Hadian, if these assets are sold and converted into cash, the company's cash flow will increase. Financial ratios will also improve. These assets were previously acquired for investment purposes in the hotel, apartment, and healthcare sectors. However, the company has now chosen to focus more on its core business in the construction sector.
Regarding the merger plan currently being processed by Danantara, Hadian stated that WEGE, as a subsidiary of PT Wijaya Karya Tbk (WIKA), will follow the direction of its parent company. In the merger plan, WEGE's parent company, WIKA, will merge first, followed by its subsidiaries.
"The first merger will be at the parent company level, WIKA, and we don't yet know with whom. After that, it will continue with the subsidiaries," he explained.
Hadian ensured that WEGE will maintain its focus on its core business, namely building construction, and operate more efficiently.
From January to September 2025, WEGE posted a net loss of IDR 50.44 billion. This position reversed the company's net profit of IDR 47.10 billion in the same period the previous year.
WEGE recorded net revenue of IDR 1.17 trillion, down from IDR 2.25 trillion in the same period the previous year. Along with the decline in revenue, cost of revenue also decreased to IDR 1.06 trillion from IDR 2.07 trillion year-on-year.
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