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Investor Daily - Tiga emiten BUMN Karya incar kontrak baru Rp77 triliun
12 February 2024
By Muawwan Daelami
Jakarta, ID – Three construction state-owned enterprise (SOE) issuers, namely PT PP Tbk (PTPP), PT Wijaya Karya Tbk (WIKA), and PT Waskita Karya Tbk (WSKT), are targeting to obtain new contracts worth Rp77 trillion in 2024. The three issuers still rely on government projects to obtain new contracts this year.
Among the targets, PTPP has the highest at Rp31 trillion, followed by Wika with Rp29 trillion, and Waskita Karya with Rp17 trillion. “This year, [the new contract target of] PTPP is at Rp31 trillion,” PTPP Corporate Secretary Bakhtiyar Efendi said to Investor Daily recently.
Bakhtiyar revealed that the target for 2024 was not too different from last year as many projects were delayed. In the future, the state-owned construction issuer will still rely on government projects that are funded by the State Budget (APBN) and national strategic projects (PSNs).
WIKA also has a similar calculation. Wijaya Karya Corporate Secretary Mahendra Vijaya mentioned that this year, the company was targeting to obtain new contracts worth Rp29 trillion. The amount is in line with the target realised by the company last year. “Regarding the project owner, we are still mostly targeting government projects,” Mahendra said to Investor Daily.
Meanwhile, PT Waskita Karya Tbk is targeting to obtain a new contract value of Rp17 trillion in 2024, which slightly increased by 6.25% from its new contract value realisation in 2023 that reached Rp16 trillion. In terms of revenue, WSKT is expecting a growth to Rp14 trillion in 2024.
Waskita Karya Business Development Director Rudi Purnomo explained that the revenue growth forecast was based on the new contract value that will be realised by Waskita this year.
In the future, the company will still focus on improving its performance by refocusing on conventional contracts. “It means contracts that will be worked on by Waskita are projects with down payments and monthly payments, which are expected to improve the company’s cash flow,” Rudi said.
Meanwhile, PT Adhi Karya Tbk has not announced its new contract target for 2024. Adhi Corporate Secretary Farid Budiyanto stated that the company was still waiting for new developments of internal numbers to set a new contract target this year. “So, we have not released a number,” Farid told Investor Daily.
However, referring to the company’s new contract target last year, the issuer with the ticker code ADHI secured new contracts worth Rp37.4 trillion, which increased by 58% compared to its new contract realisation in 2022 that reached Rp23.7 trillion. Meanwhile, previously, the company only targeted its new contracts to grow 14%-20% in 2023.
Totalling the new contract targets of PTPP, WIKA, and WSKT, the total of new contracts that is set to be secured by the three state-owned construction issuers reaches Rp77 trillion.
With ADHI’s potential contracts and referring to the company’s contract realisation of Rp37 trillion last year, then the four construction SOE issuers have an opportunity to obtain new contracts worth nearly Rp114 trillion this year.
