WIKA's 9M-2018 Net Profit Grows 38.57% to Rp1.06 Trillion
JAKARTA, Dec, 06 2018 - (ACN Newswire) - PT Wijaya Karya (Persero) Tbk. ["WIKA"] booked a net profit of Rp1.06 trillion in the nine months of 2018, according to its financial statement for the period ended 30 September 2018. Compared with the same period in 2017, the Company's net profit in the third quarter grew 38.57% with a net profit margin of 5.03%.
WIKA's net revenue (excluding joint operation projects or KSO) in the nine months of 2018 was Rp21 trillion, a 32.30% jump compared with Rp15.88 trillion recorded in the same period last year.
The largest contributor of revenue was the infrastructure and building sector, followed by industry, energy and industrial plant, and property, respectively.
Another positive achievement was growth in total assets. As at the end of the third quarter of 2018, WIKA's assets grew to Rp56.9 trillion, up 42.05% from Rp40.05 trillion recorded in the same period in 2017.
"WIKA's performance in the third quarter of 2018 showed that we are ontrack and still have the potential for more growth. We are grateful that WIKA has been entrusted to handle various strategic projects, thus giving WIKA ample room to grow," said Tumiyana, WIKA's President Director.
WIKA also continued to build upon its contract portfolio after being selected to develop the Randugunting Dam in Blora, Central Java and package 4 of the Tiga Dihaji Dam in South Sumatra.
WIKA Constructs Temporary Housing in Palu and Lombok
As part of the effort to accelerate disaster recovery in Lombok and Palu, WIKA through its subsidiary, PT Wijaya Karya Bangunan Gedung Tbk. ["WEGE"], has built temporary houses in Sigi and East Lombok.
Although both are similarly temporary housing, WEGE implemented different designs that is suitable with the local soil features in Lombok and Sigi. In Lombok, the temporary housing used a semi-detached design to ensure the houses' robustness and resilience against strong winds.
Because of soil liquefaction that occurred in Sigi, the temporary housing used stilt-house design to reduce the impact of soil movement. The use of strong and lightweight materials, such as concrete and lightweight steel, is among WEGE's strategy to provide temporary housing that is both habitable and safe.
WIKA Strengthens Overseas Presence by Expanding into Asian Markets
Backed by its respectable portfolio of overseas projects, WIKA has made its inaugural expansion into the Taiwanese market. The milestone was marked by the signing of the Joint Operations Agreement with Dong-Pi Co. Ltd. (Dong-Pi) to construct the Kinmen Bridge.
The 5,400 meter long bridge will connect two Taiwanese islands, Greater Kinmen and Lesser Kinmen, both of which are a short distance away from Mainland China.
WIKA's Director of Operations Destiawan Soewardjono remarked that this achievement will have a positive impact on the Company's expansion into East Asia.
"This will be an extraordinary achievement for the Company. Having a footprint in Taiwan is a milestone for WIKA to expand our business in Asia, especially East Asia," said Destiawan.
Prior to the project in Taiwan, WIKA has a number of on-going projects abroad, such as the Clarin Bridge in the Philippines, Limbang Bridge in Malaysia, Lodgement in Algeria, Presidential Palace in Niger, Yangon Circular Railway in Myanmar, and Oecusse Airport in Timor-Leste.
As an Inspirational Company, WIKA Receives Numerous Awards
As a listed company, WIKA maintains transparency in its corporate disclosures based on principles of Good Corporate Governance (GCG), and the Company has implemented such principles since 2012.
WIKA was selected as the Top 5 construction companies in maintaining good corporate governance practices in the Corporate Secretary Award organized by Warta Ekonomi on Friday, 26 October 2018.
In addition, WIKA has also won two prestigious awards in the SOE for the Nation Awards 2017 ( BUMN Hadir untuk Negeri Awards 2017). Organised by the Ministry of State-owned Enterprises, the Awards were part of the Coordination Meeting of State-owned Enterprises (Rakor BUMN) held in Bontang, East Kalimantan, on Monday, 29 October 2018.
WIKA's President Director Tumiyana received the awards on behalf of the Company for its accomplishments in the Special Category, Best in BHUN 2017 Reporting, and Runner-up in the Veterans' Home Makeover (Bedah Rumah Veteran) 2015-2017 in the Under 100 Houses category. The awards were presented by Minister of State-owned Enterprises, Rini M. Soemarno.
Tumiyana expressed his pride for the successes that WIKA had achieved. He expected that the two awards would be able to motivate greater performance in the future.
"We hope that receiving two awards at the same time can motivate us to continue contributing to our Nation and Country," said Tumiyana.
Veterans' Home Makeover (BRV, Bedah Rumah Veteran) is a program under SOE for the Nation (BUMN Hadir untuk Negeri), an initiative led by the Ministry of State-owned Enterprises. The program is a platform for SOEs to recognise veterans' for their service in the struggle for the nation's independence and sovereignty.
Email: [email protected]
Source: PT Wijaya Karya (Persero) Tbk.
Sectors: Daily News
Copyright ©2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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