January 28, 2015 2:07 PM ET

Construction and Engineering

Company Overview of PT Waskita Karya (Persero)

Company Overview

PT Waskita Karya (Persero) Tbk operates in the construction industry in Indonesia. It operates through three segments: Constructions, Building Rentals, and Precast. The company constructs building and industry projects, such as office, housing, hotels, hospitals, campuses, public facilities, shopping centers, and apartments; water and power plants comprising dams, power plants, and irrigation projects; transportation projects, including bridges, ports, airports, flyovers, underpasses, tolls, and highways projects; and monumental projects. It is also engaged in the design, development, production, and marketing of precast concrete. The company was founded in 1961 and is headquartered in Jakar...

Waskita Building

MT Haryono Kav. No 10

Cawang

Jakarta,  13340

Indonesia

Founded in 1961

1,097 Employees

Phone:

62 21 850 8510

Fax:

62 21 850 8506

Key Executives for PT Waskita Karya (Persero)

President Director
Age: 62
Total Annual Compensation: $100.0M
Finance & Human Capital Director and Director
Age: 52
Total Annual Compensation: $90.0M
Operation I Director and Director
Age: 52
Total Annual Compensation: $90.0M
Operation Director III and Director
Age: 54
Total Annual Compensation: $90.0M
Operations Director II and Director
Age: 55
Total Annual Compensation: $90.0M
Compensation as of Fiscal Year 2013.

PT Waskita Karya (Persero) Key Developments

PT Waskita Karya (Persero), PT Adhi Karya (Persero) Tbk And PT Wijaya Karya (Persero) Tbk Plan To Raise Funds

State-owned construction companies PT Adhi Karya (Persero) Tbk (JKSE:ADHI), PT Wijaya Karya (Persero) Tbk (JKSE:WSKT), and PT Waskita Karya (Persero) (JKSE:WIKA) plan to seek funding for their capital expenditures from the capital market next year. Several of the funding options include rights offering, bonds issuance, and subsidiary's initial public offering. Suradi, Corporate Secretary of Wijaya Karya, said the company plans to divest its stake in its subsidiary, Wijaya Karya Realty, in the second semester of 2015. The company plans to divest a maximum of 30% of issued capital. "We expect to obtain proceeds of IDR1 trillion to IDR1.5 trillion from the IPO of Wika Realty", he said. Wijaya Karya ensures that it will still become the majority stakeholder in Wika Realty with 70% shares. The company will use most of the IPO proceeds to develop its business in the property sector. Kiswodarmawan, President Director of Adhi Karya, said that one of the company's funding options for 2015 is rights offering. Its rights offering percentage is still being calculated by Mandiri Sekuritas, Danareksa Sekuritas, and Bahana Securities. "We may use the rights offering proceeds to actualize the Jakarta Link Transportation project." Proceeds from the rights offering will contribute around 30% of Adhi Karya's total project investments of IDR10 trillion in 2015. Thus, it can be assumed that Adhi Karya targets obtaining IDR3 trillion from the rights offering. Meanwhile, Waskita Karya targets obtaining a total of IDR5 trillion from rights offering. The target can be met if the public participates in the rights offering. Antonius Yulianto, Corporate Secretary of Waskita Karya, said the government controls 67.7% stakes in the company, while the remaining stakes are controlled by the public. The government will take in IDR3 trillion from the rights offering. The remaining proceeds will be utilized by the public.

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