WSKT Boss About BUMN Karya Merger: I Think It Will Be Executed Next Year

President Director of Waskita Karya Muhammad Hanugroho (right). (Photo: Doc. WSKT)

JAKARTA - PT Waskita Karya (Persero) Tbk (WSKT) has opened its voice regarding the plan to merge BUMN works.

The plan is that WSKT will join PT Hutama Karya (Persero).

Waskita Karya President Director Muhammad Hanugroho revealed that Waskita's merger with other state-owned enterprises will 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.

In the planned merger, according to Hanugroho, there is also the potential for a decrease in asset value, so it is necessary to carry out a structural adjustment process.

"So the market value, that's the point, that's the point. So, there is no more, for example, potential that results in after-integration, there are numbers that arise that cannot be accounted for. So, we really prepare the preparation," he explained.

He admitted that consolidation received the attention of many parties because it was directed by President Prabowo Subianto regarding improvements in state-owned enterprises from seven companies to three companies.

"Well, this is an important factor. Indeed, there are several strategic initiatives that we want to convey that the main goal is to focus on the core business as a BUMN work," explained Hanugroho.

Tujuan utama konsolidasi lainnya juga untuk peningkatan sinergi dan efisiensi operasional, selain penguatan peran BUMN untuk mendukung percepatan pembangunan infrastruktur nasional dengan sumber daya lebih terpusat dan efektif.

"Kami melakukan konsolidasi bersama dengan Danantara Aset Manajemen dan kami akan melakukan kajian kembali terkait dengan proses integrasi ini. Sehingga, sifatnya belum final bentuknya seperti apa," pungkas dia.

Another main goal of consolidation is also to increase synergy and operational efficiency, in addition to strengthening the role of SOEs to support the acceleration of national infrastructure development with more centralized and effective resources.

"We are consolidating together with Danantara Asset Management and we will conduct a review related to this integration process. So, it is not final in what form," he concluded.