WSKT to Set Strategy as Debt Mounts

By Editorial Team 27/09/2019
Summary

PT Waskita Karya Tbk sets out several strategies to keep financial conditions healthy, such as by accelerating the disbursement of turnkey receivables and the sale of toll road concessions to cover debts. The state-owned contractor’s total debts skyrocketed 970 percent to Rp 103.7 trillion as of June 2019 from Rp 9.7 trillion in 2014.

Waskita Karya Finance Director Haris Gunawan confirmed the company’s debt had increased. However, he reasoned that obligations are reasonable for the company to grow. High profits follow high funding, while not all businesses are using their capital.

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