Tag: WSKT
Corporate Actions
Independent power producer Cikarang Listrindo (POWR) plans to buy back 322 million shares, or 2% of enlarged capital. POWR shares gained 2.14% to Rp955 on Friday last week inline with broader market sentiment, but has fallen 26.5% year to date.
Read MoreMarket & Fund Raising
As global trade concerns persist, Asian stock markets closed mixed on Thursday (Aug 30). Tariffs on another $200 billion of Chinese goods are expected to take effect next month after no progress was made last week.
Read MoreWaskita Karya Books New Contracts Rp9 Trillion
State construction firm Waskita Karya (WSKT) booked new contracts of Rp9 trillion per July this year, supported by infrastructure projects and units. The said projects include toll road project, Tebing Tinggi-Prapat, phase one...
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Connectivity Report: Java
Slightly behind schedule, President Joko ‘Jokowi’ Widodo is expected to inaugurate Section III and IV of the Pejagan-Pemalang toll road, developed by Waskita Karya (WSKT), this month. Physical construction of the toll road has been 100% completed. We, accordingly, are moving closer to full connectivity of trans-Java.
Read MoreCorporate Actions
State EPC and toll road developer Waskita Karya (WSKT) said its subsidiary PT Waskita Toll Road (WTR) has on Thursday last week (May 31) signed a loan facility agreement worth Rp7.1 trillion provided by Bank Rakyat Indonesia (BBRI). The loan will be used to fund land acquisition for toll road projects owned by its three units: PT Trans Jabar Tol, PT Cimanggis Cibitung Tollways, and PT Kresna Kusuma Dyandra Marga.
Read MoreToll Road Projects Update (1): Greater Jakarta
Compared to projects under the trans-Java and trans-Sumatra toll road program, development of toll roads in the Greater Jakarta area, which are more prospective, has been pathetically slow. The recently signed special loan of Rp7.16 trillion from state bank BRI to Waskita Toll Road (WTR), subsidiary of Waskita Karya (WSKT), might be a boost.
Read MoreToll Road Projects Update (1): Waskita
Waskita Toll Road, subsidiary of Waskita Karya (WSKT), is set to start generating more revenues from new toll roads entering commercial operation in the coming months. Section I of Bogor-Ciawi-Sukabumi (Bocimi) toll road in West Java, for example, is getting closer to commercial operation after more than two decades of delay.
Read MoreImproved Connectivity Outlook
After years of efforts, including court battles, the government has finally completed land acquisition for Pejagan-Pemalang toll road. Overall construction progress reached 93%, ensuring full commercial operation of the toll road by Waskita Karya (WSKT) in the coming months. Land acquisition for Medan-Binjai and Palembang-Indralaya in Sumatra Island has also been fully completed.
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Waskita Karya: Toll Road Projects & The Balance Sheet
Waskita Karya (WSKT) was a company with total assets of less than US$1 billion by the end of 2014. By March 31, 2018, the Company’s total assets already reached Rp111 trillion or around US$8 billion following its expansion into toll road business. Equity reached Rp24.5 trillion by March 2018, ten times the amount recorded in Dec 2014.
Read MoreFirst Quarter Results
Waskita Karya Group (Waskita Karya/WSKT and Waskita Beton Precast/WSBP), Fajar Surya Wisesa, and Bank Tabungan Pensiunan Nasional (BTPN) reported strong performance in the first quarter ended March 31, 2018. Bank Danamon (BDMN), on the other hand, posted 1% decline in net profit to Rp1 trillion, while Bukopin (BBKP) claimed improvements here and there.
Read MoreStocks to Watch
Shares of newly-listed Indah Prakarsa Sentosa (INPS) gained 50% to Rp414 on its trading debut on Friday last week (April 6), from its IPO price of Rp276. The Company, engaging in wholesale, distribution and logistics services provider of fuel, lubricant, and LPG, offered 650 million shares through the initial public offering (IPO), raising Rp41.4 billion proceeds. Its market capitalization reached Rp179.4 billion.
Read MoreCorporate Actions
State-owned construction firm Waskita Karya (WSKT) said that some investors, including insurance firms and pension funds, were interested to acquire concession rights for ten toll road sections, and to acquire shares in PT Waskita Toll Road (WTR), subsidiary of WSKT.
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