JAKARTA. PT Waskita Karya (Persero) Tbk acquired IDR 520 billion of profit following the divestment of 55% of its portion in Cibitung-Cilincing toll in PT Cibitung Tanjong Priok Tollways (CTP).
In the press release published today (12/10), Ratna Ningrum, Corporate Secretary of Waskita Karya, revealed that the value of the said 55% divestment in CTP amounted to IDR 2.44 trillion. It is higher than its initial value of IDR 1.92 trillion.
Besides gaining funds, the divestment had allowed Waskita to reduce interest expenses by IDR 5.8 trillion from the deconsolidation process. “Aside from the investment value of Waskita, there are also Bank Investment Credits and accumulated debts, which would be reassigned to the new investor,” she added.
Through its subsidiary, PT Waskita Toll Road (WTR), WSKT had transferred its entire portion in CTP as the Tollway Business Unit of Cibitung-Cilincing toll route concession of 55% to PT Akses Pelabuhan Indonesia (API), the holder of 45% of CTP’s shares. Thus, after this transaction, API’s portion in CTP rises to 100%.
Until September 2021, WTR had divested three Tollway Business Units for IDR 4.4 trillion in total, made up of IDR 2.1 trillion on top of the book value of IDR 2.3 trillion. The three tollway units in question are PT Jasamarga Kualanamu Tol, PT Jasamarga Semarang Batang, and PT Cinere Serpong Jaya. (AM/ZH)