Waskita Karya Sasar Foreign Market Anticipates Drag Projects In Political Years

Illustration (Photo: Doc. Antara)

JAKARTA - PT Waskita Karya (Persero) Tbk will focus on targeting projects abroad from 2023 to 2024.

This step is in anticipation of the market running out or the market for the construction segment in the political year.

As is known, in 2024 Indonesia will hold a simultaneous general election (Pemilu).

Waskita Karya's Business Development Director, Septiawan Andri Purwanto, said that during the political year the government's budget in the construction market segment will run low.

Therefore, the company will target foreign markets as a strategy.

"We also do expansion abroad. Hopefully this can improve our future performance, where the internal market for goods will decline slightly in the political year. We have anticipated it by opening up overseas markets," he said in a virtual press conference, Monday, November 14.

Furthermore, Septiawan explained, Waskita Karya has a branch of the company that has been established, such as in Jeddah or Abu Dhabi.

"Our portfolio, which is currently on going abroad, has one project in Saudi Arabia and there is a project in Timor Leste. And several times we have also participated in tenders in ASEAN, Philippine and Malaysian countries," he said.

Septiawan explained, specifically in Africa, Waskita Karya has started the negotiation process since last year.

He hopes that this year the infrastructure project contract there can be obtained and submitted to the public.

"This is one of our strategies to cover up the lack of new contract value (NKB) in the political year. Next year (until) 2024, there is a decrease in the portion of the APBN for the regional market construction, we can anticipate the NKB earlier," he said.

As is known, the issuer with the stock code WSKT is targeting to obtain a new contract by the end of the year worth IDR 25 trillion.

Currently, the new contract that Waskita Karya has obtained is worth Rp. 13.3 trillion. Septiawan said that the portion of foreign markets is still very open. Therefore, his party will consider foreign markets, but with safe payments for the company. "(This overseas market) is still very open. We consider foreign markets with a payment scheme that is safe for Waskita as a player in the contract," he explained.