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Press Release

Public Expose 2021: WSBP Projects New Contract Value of IDR 2.7 Trillion in 2021

Jakarta, December 30rd, 2021. PT Waskita Beton Precast Tbk (WSBP) held an annual online public expose. Management represented by the President Director, FX Poerbayu Ratsunu and the Director of Finance & Risk Management, Asep Mudzakir explained the company`s performance and management strategy.

In his presentation, Poerbayu said that the acquisition of a new WSBP contract value at the end of 2021 is projected to be Rp. The acquisition of this new contract was dominated by projects from the Waskita Group by 78%. Several projects obtained from the Waskita Group project include the Cimanggis-Cibitung Toll Road Project section 2, the Kayu Agung - Palembang - Betung Toll Road Project Package II, the Tebing Tinggi-Parapat Toll Road Project, and other projects.

Then for the external project portion from BUMN, Government, and Private sector, 22% was obtained from several major JPM Sudirman-Dukuh Atas projects, OJK Regional 7 Office Building Construction, and Semarang Toll Road Project. In addition, WSBP has also started overseas expansion with the construction of the Thilawa Shipyard Myanmar Project Phase III. This is the first project abroad so the company has the opportunity to get similar projects in the future.

The projected value of managed contracts until December is IDR 6.6 trillion, while the company also projects operating revenues of IDR 1.2 to 1.3 trillion in 2021.

Furthermore, Asep Mudzakir as Director of Finance & Risk Management explained the financial restructuring program carried out with creditors. “The WBP restructuring process will be carried out through the Master Restructuring Agreement mechanism which is expected to be agreed upon by all creditors to maintain the company`s going concern. We are targeting this process to be completed in the first quarter of 2022," said Asep.

In addition, a holistic transformation program is also underway, to realize the success of the company`s new business model. WSBP also formed a transformation office team to oversee the transformation process and monitor the progress of the implementation of new initiatives. This business transformation has 3 main pillars, namely Portfolio & Innovation, Lean & Digital, and Liquidity Management. "With this transformation, it is expected to improve performance in a sustainable manner with strong financial fundamentals," he added.

In addition, to ensure going concern and sustainable growth, WSBP is also committed to strengthening governance and risk management. Now, the risk management function has been confirmed at the Board of Directors level through the appointment of the Director of Finance & Risk Management. The WSBP also formed an investment and manufacturing committee to improve the implementation of the checks and balances function in decision making.

These strategies will be realized as best as possible by the WSBP Management. With expertise supported by various experiences of the New Management, it builds motivation and enthusiasm for all WBP Personnel to work together again to make WBP superior performers.