Waskita Karya Explained

PT Waskita Karya (Persero) Tbk
Type:State-owned PT
Industry:Construction
Area Served:Indonesia
Location:Cawang, East Jakarta, Jakarta Indonesia
Revenue:Rp 16.190 trillion (2020)
Net Income:Rp -9.496 trillion (2020)[1]
Owner:Government of Indonesia
Assets:Rp 105.589 trillion (2020)
Equity:Rp 16.578 trillion (2020)
Num Employees:1,956 (2020)
Subsid:PT Waskita Beton Precast Tbk.
PT Waskita Karya Infrastruktur
PT Waskita Karya Realty
PT Waskita Toll Road

PT Waskita Karya (Persero) Tbk, trading as Waskita Karya, is an Indonesian state-owned construction company located in Cawang, Jakarta. It was the result of a January 1, 1961 nationalization of Volker Aannemings Maatschappij NV, the Indonesian branch of what would become VolkerWessels. Waskita specializes in commercial and residential building contracts.[2]

Controversy

Waskita Karya is known for late paying on their vendors and not been able to pay Maturity Bond Coupons.[3] On 27 April 2023 the President Director of Waskita Karya, Destiawan Soewardjono along with 7 other people was detained by the Attorney General's Office of Indonesia for corruption.[4] Destiawan played the role of ordering and approving the disbursement of supply chain financing (SCF) funds using fake supporting documents to be used as payment for the company's debt due to the disbursement of payments for fictitious work projects to fulfill the suspect's request. The total loss of the corruption were about RP 2.5 Trillion (USD 67 Million).[5]

Projects

Selected major projects, by year of completion, are:

External links

Notes and References

  1. Web site: Laporan Tahunan 2020. Waskita Karya (Persero). id. 4 October 2021.
  2. Web site: Company profile: Waskita Karya . Goliath . 2009-03-19 . dead . https://web.archive.org/web/20090214221431/http://goliath.ecnext.com/coms2/product-compint-0001202684-page.html . February 14, 2009 .
  3. Web site: 2023-05-05 . WSKT Belum Bisa Bayar Kupon Obligasi Jatuh Tempo, Apa Sebab? . 2024-02-16 . IPOTNEWS . id.
  4. Web site: Buntut Korupsi Dirut, 7 Karyawan PT Waskita Karya Diperiksa Kejagung . 2024-02-16 . nasional . id-ID.
  5. Web site: 2023-05-16 . Kerugian Negara Akibat Korupsi di Waskita Karya Diduga Lebih dari 2,5 Triliun . 2024-02-16 . medcom.id . id.