JAKARTA - PT Wijaya Karya (Persero) Tbk (WIKA), a state-owned construction company, has prepared a capital expenditure (CapEx) budget of Rp 11.5 trillion for this year, lower than the budget for last year (Rp 15.6 trillion).
The company's management, as quoted by IPS Research, stated that the CapEx budget for 2020 is 26.28% lower than the budget in 2019.
This year, the company will focus on increasing its total equity from Rp 19 trillion to Rp 26 trillion, which will be done through the issuance of perpetual bonds.
In addition, WIKA will also hold an IPO of its subsidiary, PT Wijaya Karya Realty.
Regarding contracts, the company targets to record a total new contract value of Rp 65 trillion, (22% from the government, 9% from the foreign markets, and 25% from the private sector. (ARM/AR)