Waskita Beton Precast Wins New Contract Of IDR 420 Billion In The First Quarter Of 2023

Rupiah (Photo: Doc. Antara)

JAKARTA - The state-owned company in the construction sector of PT Waskita Beton Precast Tbk (WSBP) recorded a new contract value (NKB) of IDR 420 billion until the first quarter of 2023.

Vice President of Corporate Secretary, Fandy Dewanto, in an official statement in Jakarta, Friday, clarified that the contract value increased by 41 percent year on year (yoy) when compared to the same period last year.

"This is a brilliant record for WSBP, because our new contract rose 41 percent compared to the same period last year of Rp298 billion," said Fandy quoting Antara.

He explained that this achievement was 113 percent of the company's NKB target in the first quarter of 2023 which amounted to Rp371 billion, the majority of which were obtained from external markets of 75 percent and internal 25 percent.

"Based on customer basis, the majority of our contracts with the private sector are 71 percent, and BUMN/BUMD is 29 percent," said Fandy.

Meanwhile, several major projects were obtained by the company, including the construction project of the Presidential Secretariat Building and Supporting Buildings for the Presidential Palace of the Republic of Indonesia, the construction of the Balang Island IKN Bridge, and the LNG Terminal and Regasification Project in Sumbawa.

In addition, the Jakarta Coastal Security Project Phase 6, and the Sekip Ujung Palembang Fly Over Development Project.

"This year we are implementing a strategy to seize market opportunities in the BUMN/BUMD sector, the private sector, the government and cnidaria support Waskita Group's internal projects," said Fandy.

Furthermore, management will also focus on formulating a strategy for obtaining new contracts by increasing market share outside the Waskita Group, and exploring foreign markets, especially the Southeast Asia region, but still prioritizing healthy project funding conditions.

Waskita Beton is optimistic that in 2023 the performance will grow in improvements from several lines, including precast, readymix or construction services businesses. "We are targeting new contract growth of around 100 to 150 percent this year," said Fandy.

For information, WSBP recorded operating revenues of IDR 367 billion in the first quarter of 2023, or an increase of 26 percent compared to last year's IDR 290 billion.

"Business income is supported by the achievement of the precast sector by 30 percent, readymix 52 percent and construction services 18 percent. Then net profit of IDR 16 billion or an increase of 106 percent compared to the same period last year," said Fandy.