JAKARTA. PT Waskita Karya (Persero) Tbk (WSKT) intends to divest five toll roads to reduce its debt expenses of IDR 23 trillion by 2025.
Those five routes in question include the Pemalang-Batang Toll Road, whose 60% of shares are controlled by Waskita, Depok-Antasari Toll Road (18.20% ownership), Pasuruan-Probolinggo (100% ownership), Bekasi-Cawang-Kp Melayu (71.80%), Krian-Legundi-Bunder-Manyar (100%), and Cileunyi-Sumedang-Dawuan (16%).
“We project the deconsolidation of debts to reach IDR 23 trillion,” Wiwi Suprihatno, Director of Finance and Risk Management of WSKT claimed.
Suprihatno further mentioned that WSKT is continuously working to cut off its debts, as signified by the slowly improving equity. Waskita also received support from state equity participation and its successful rights issue in 2021 and 2022.
As of September 30, 2022, WSKT’s total liabilities clocked up to IDR 82.4 trillion, while its equity was at IDR 17.4 trillion. (KR/ZH)