JAKARTA – PT Wijaya Karya (Persero) Tbk (WIKA) places additional capital investment of IDR 6.12 trillion in PT Pilar Sinergi BUMN Indonesia (PSBI), a consortium that establishes PT Kereta Cepat Indonesia-China (KCIC). Said investment is equivalent to 35.11% of WIKA’s equity of IDR 17.44 trillion as of June 2022.
Quoting the information disclosure on Monday (21/11), Mahendra Vijaya, Corporate Secretary of WIKA, said that the extra capital was channelled in through the conversion of the advanced capital payment to actual capital investment of IDR 6.10 trillion and cash investment of IDR 11.51 billion.
PSBI is known to have been joining forces with Beijing Yawan HSR Co Ltd (China Railway International Co Ltd) to establish a joint venture of PT Kereta Cepat Indonesia China (KCIC), owning 60% of the project. KCIC is the one responsible for the Jakarta-Bandung High-speed Railway Project (lit. Kereta Cepat Jakarta-Bandung/KCJB).
WIKA has reportedly realised the capital investment that was once recorded as advanced capital payment in PSBI worth IDR 6.10 trillion. In 2022, WIKA will also invest in cash, amounting to IDR 11.51 billion, to support the operational activities of PSBI. These funds have been realised after PSBI requested an extra capital to its shareholders.
The shareholders in question are WIKA, which owns 38% of the total issued and paid-up capital of IDR 4.5 billion, followed by PT Jasa Marga (Persero) Tbk (JSMR) of another 12%, as well as PT Kereta Api Indonesia (KAI) and PT Perkebunan Nusantara/PTPN (Persero) VII of 25% each. By realising this capital and cash investment, the structure will change. WIKA will gain 39.11% of the total capital of IDR 15.65 trillion, while KAI has 51.38% of them, followed by JSMR of .30% and PTPN VII of 1.21%. (LK/ZH)