Waskita Karya Wins Total New Contracts Worth IDR 1.4 Trillion

Illustration: Photo: Doc. ANTARA

JAKARTA - PT Waskita Karya (Persero) Tbk achieved a New Contract Value (NKB) of IDR 1.4 trillion until June 2025.

As of June 2025, the company manages 52 projects spread across various island areas in Indonesia.

Waskita Karya Finance Director Wiwi Suprihatno said the majority of the contracts were building projects, such as the construction of the DIY DRPD Building, the construction of the Akhmad Berahim Hospital in North Kalimantan, and the Tuan Besar Syarif Idrus Hospital in West Kalimantan.

He also said that before taking a project, the Company had carried out risk mitigation through the construction management committee. The move is to ensure that the projects under management are not burdensome in terms of finance and are at low risk.

"Now Waskita is more selective in choosing new projects. The company focuses on projects with a monthly payment scheme and has a down payment," he said in an official statement, Thursday, June 19.

Wiwi revealed, Waskita until June 2025 manages 52 projects spread across various island areas in Indonesia.

Starting from building construction, connectivity, as well as water resources such as dams and irrigation.

"Waskita also manages several strategic projects, including LRT Velodrome-Manggarai, Palembang-Betung Toll Road, and Jragung Dam," said Wiwi.

Wiwi also said that recently Waskita also won a contract in the capital city of Nusantara (IKN) in the form of an Increase in Package D Roads in the Central Government Core Area (KIPP) 1B-1C IKN, East Kalimantan, with a project value of Rp396.6 billion.

Not only pursuing new contracts, Wiwi emphasized, Waskita is currently also focusing on implementing restructuring, improving corporate governance, as well as transforming the operational and financial side.

As is known, last year the Company had received approval from 22 Master Restructuring Agreement (MRA) bank creditors and 2021 Guarantee Working Capital Loans (KMKP) with an outstanding value of IDR 31.65 trillion.

"In October 2024, the latest MRA restructuring proposal has been declared effective. That way, the Company now has flexibility over its cash waterfall scheme and cash management, so that the company's operational activities can run more smoothly, including in fulfilling tax obligations and vendor debt," he said.

Selama 2024, lanjutnya, Waskita telah merealisasikan pembayaran pasata sebesar Rp2,9 triliun atau naik 116,05 persen secara year on year (yoy). Sementara utang vendor past due sejak 2022 telah turun hingga 84 persen dari Rp2,1 triliun menjadi Rp340 miliar pada kuartal I-2025.

"Then since the effective MRA, Waskita's total debt has decreased by 18.8 percent from Rp84 trillion to Rp68.14 trillion in the first quarter of this year," explained Wiwi.

The company, continued Wiwi, is committed to fulfilling all financial obligations to all creditors. In the future, Waskita will focus on carrying out the company's transformation in order to improve performance.

He said the transformation focused on several things, including financial stability through ongoing restructuring, returning to core business as a pure contract and avoiding various investment projects, strengthening overall good governance, and improving human resources competence through employee certification.

"We continue to strive to carry out all these transformations, so that Waskita can continue business activities in a sustainable manner. Then be able to contribute positively to the development of the nation and state," he said.