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Press Release

Targeting a New Contract Value of IDR 5 Trillion, This is Waskita Precast`s Business Strategy

 Jakarta, November 23rd 2020. PT Waskita Beton Precast Tbk (Waskita Precast) has successfully booked a new contract value of Rp 1.68 trillion until October 2020. Of this total acquisition, 38% came from internal contracts and 62% from external contracts. . These external projects include the Binjai-Pangkalan Brandan Toll Road Project, the Aceh-Sigli Toll Road Project, the Prabumulih-Muara Enim Toll Road Project, and other projects.

Based on the Financial Report as of September 2020, Waskita Precast`s operating income is IDR 1.44 trillion. In the current pandemic situation, through the existence of new management, the company has a business strategy, one of which is business expansion by expanding external markets. The company targets the value of new contracts until the end of 2020 at IDR 5 trillion, of which around IDR 3.3 trillion comes from external projects in Java and Sumatra, while the rest comes from internal projects.

"The company is optimistic to be able to continue to increase the portion of the external contract value. Of course, with the Waskita Precast product innovation that always adapts to market demand," Moch said. Cholis Prihanto, President Director of PT Waskita Beton Precast Tbk.

In addition to business expansion, Cholis also added that Waskita Precast has compiled several business strategies for 2020-2021.

Waskita Precast is always committed to continuously producing new products. Some of the new products include rail bearings, tetrapods, precast concrete piles, rigid hardening systems, and reinforced concrete pipes.

The company also makes efficiency through shared resources and the command center. "The company will carry out an integrated resource management. In addition, we will also conduct clustering of business units that are located close to each other, so that it will be more efficient, ”said Cholis. Not only that, the company is also implementing a collaborative strategy, namely by maximizing the resources of other parties in order to optimize operational efficiency.

Finally, through the restructuring of banking facilities, namely through Bank Himbara which is carried out together with Waskita Karya, which is currently in the process of reviewing with an independent third party. The company also rolled out loan facilities at private banks and changed the installment scheme.

The company`s condition is still quite good when viewed from the gearing ratio and current ratio where the company`s interest-bearing debt ratio as of September 2020 is 1.04x (covenant 2.5x), and the company`s current ratio is 1.31x. This shows that the company still has ample funding space capacity and is still able to meet its short-term debt.