Waskita Cancels Getting PMN Of IDR 3 Trillion, SOE Minister Transfers To Hutama Karya

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - Minister of State-Owned Enterprises (BUMNA) Erick Thohir said the state capital participation (PMN) of PT Waskita Karya Tbk which was canceled would be transferred to PT Hutama Karya (Persero) or HK.

For your information, PT Waskita Karya Tbk canceled receiving an injection of fresh funds from the government worth Rp. 3 trillion. The funds received by the issuer codenamed WSKT will be returned to the state's general treasury account.

Furthermore, Erick said that Waskita's transfer to HK PMN was in line with the process of merging or consolidating the BUMN content of the work.

"The PMN was transferred to HK, from there, right, HK took the assets in Waskita," he said when met on the Indonesia Stock Exchange (IDX), Jakarta, Monday, August 7.

Erick revealed that there would be an evaluation related to the provision of PMN to BUMN works. He admitted that he was discussing this with the deputy ministers of SOEs, OJK and the Ministry of Finance.

Later, continued Erick, the injection of funds or PMN to BUMN will no longer be based on corporations but based on projects or project based.

"Because it's paid in mulyars, we have to initiate it. We don't let the above corpoarsion action help, later there will be fraud. We have to make this project buy land, buy buildings, that's the problem, you know, in the work," he said.

"And this is not a problem today again. This is a problem from how many years ago," he continued.

Waskita Restructuring Process

On the other hand, Erick explained that Waskita Karya's own restructuring process had been carried out three years ago. Evidently, continued Erick, the debt of BUMN projects in the Association of State-Owned Banks (Himbara) shrank from Rp123 trillion to around Rp70 trillion.

Erick said, this process will also be supported by a merger or consolidation of BUMN Karya, namely PT Waskita Karya with PT Hutama Karya, then PT PP with PT Wijaya Karya (WIKA).

"If the HK merger process with Waskita, PP and Wika are in the process of 2-3 years, but restructuring has been carried out since 3 years ago. It is proven that Himbara's debt for projects has dropped, this is what we are tidying up," he said.

Actually, said Erick, the chaos of this BUMN came before he served as minister. Even so, Erick admitted that he tried to help solve it with the corporate mechanism process with vendors.

"It's the same when I was chased by Istaka Karya, why, sir, this is a 2006-2007 toll road construction project, I haven't (so) the minister. But today of course, our vendors are trying to help solutions with the corporate mechanism process. I can't finish everything," he said.