Toll road sales: Construction SOEs focus on divestment
This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Bisnis Indonesia - Penjualan tol: BUMN karya fokus divestasi
25 September 2023
Jakarta - Construction state-owned enterprise (SOE) issuers, namely PT Waskita Karya (Persero) Tbk (WSKT), PT Wijaya Karya (Persero) Tbk (WIKA), and PT PP (Persero) Tbk (PTPP), are focusing on selling their assets or divestment this year.
WIKA is currently selling three toll segments, namely Manado-Bitung (Mabit) toll segment, Balikpapan-Samarinda toll segment (Balsam), and Soreang-Pasirkoja (Soroja) toll segment, this year.
Wijaya Karya Corporate Secretary Mahendra Vijaya said that the company has received various offers. However, he did not explain in detail which company is willing to acquire the assets.
“We cannot mention who and how much the offer value is due to the non-disclosure agreement (NDA). However, there are several offers made to the company,” he said to Bisnis on Sunday (24/9).
WIKA’s ownership of Mabit toll segment reaches 20%, its ownership of Basam toll segment reaches 18.29%, and its ownership of Soroja toll segment reaches 25%.
According to Mahendra, divestment is one of WIKA’s strategic steps. The company is currently focusing on restructuring.
Meanwhile, some time ago, Waskita offered Pemalang-Batang toll road that is managed by its subsidiary, PT Waskita Toll Road, to investors at Asean Indo-Pacific Forum (AIPF) 2023.
Moreover, PTPP is targeting to release the shares and the assets of its subsidiaries worth Rp1.4 trillion until the end of 2023. However, until now, the company has only obtained Rp105 billion from the divestment process that they have carried out.
