Waskita Karya Raup Rp9.73 Trillion From The Sale Of 4 Toll Roads

JAKARTA - The issuer of BUMN by PT Waskita Karya (Persero) Tbk. (WSKT) managed to record sales of 4 toll roads. The total transaction value reached IDR 9.73 trillion.

Waskita Karya's Director of Finance and Risk Management Wiwi Suprihatno explained that the release of share ownership in toll road projects is a form of asset recycling in order to focus on improving the company's financial performance in the fourth quarter of 2022.

"With the four corporate actions in 2022, the Company managed to record a profit/gain worth approximately IDR 1.7 trillion," said Wiwi in a written statement, quoted on Friday, December 9.

In 2022, the toll road that was successfully released by WSKT, is the partial Cimanggis-Cibitung toll road to PT Sarana Multi Infrastruktur (Persero) (SMI) with a transaction value of IDR 339 billion in June. Followed by the Kanci-Pejagan and Pejagan-Pejagan toll roads to the Indonesia Investment Authority [INA] with a transaction value of IDR 5.8 trillion in September 2022.

Most recently, it released 39.77 percent of shares on the Semarang-Batang toll road section to Kings Bless Limited (KBL), a subsidiary of Road King Expressway (RKE), an infrastructure company from China, with a total value of IDR 3.8 trillion.

For information, Waskita Toll Road, a subsidiary of WSKT, as a toll road investor, has shares in each toll road section through the establishment of a subsidiary or Toll Road Business Entity (BUJT) as the concession holder for managing the toll road within a certain period of time.

Meanwhile, in every share release transaction in BUJT, WTR agreed to grant toll concession management rights to strategic investors, while assets or land from the toll road are still owned by the state.

In every corporate action, Waskita Group always prioritizes the principle of prudence through the implementation of Good Corporate Governance (GCG) and implemented in accordance with applicable regulations.