Waskita Karya Tbk (WSKT) grew the fastest compared to other contractors both in terms of revenue and net income. This year, Waskita aims to achieve its new contract target and net profit, giving priority to the first. The achievement can be seized thanks to the government’s strategic projects throughout Indonesia, including the LRT project in Palembang worth Rp11 trillion.
Waskita is currently the contractor issuer with the largest market capitalization in Indonesia, which reached Rp38 trillion. Its business covers construction, highways, precast concrete, realty and energy.
Waskita has quite aggressive ambitions. One of its targets is 1,000 km toll ownership in two years. To achieve that, the company does not hesitate to pay forward the land acquisition for tollroads. In addition, a subsidiary engaged in the Precast Concrete, Waskita Beton Precast (WBP), is also targeted for IPO this year. Semen Indonesia Tbk (SMGR) has expressed interest in buying the WBP.
Waskita will also divest its Waskita Toll Road (WTR) this year through non-public deals. There are 10 investors who have expressed interest, as stated by WSKT’s management.
Meanwhile other contractors, both state-owned and private, are expecting a speed-up of some of delayed contracts and accelerating development of the property as a result of the inflow of repatriation funds. The contractors include Adhi Karya Tbk (ADHI).
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