BP BUMN: Waskita restructuring aims to strengthen toll road business focus

Jakarta (ANTARA) - Head of BP BUMN and concurrently COO of Danantara, Dony Oskaria, stated that one direction of PT Waskita Karya (Persero) Tbk’s restructuring is to strengthen its focus on the toll road business. “Waskita becoming the second toll road company after Jasa Marga is fine, as long as it is calculated correctly,” Dony said in an official statement confirmed by ANTARA in Jakarta on Wednesday. The statement emphasised that strengthening the business focus is not solely determined by the size of the assets owned, but must be supported by mature business calculations, a healthy financial structure, and business projections capable of creating sustainable added value. Dony explained that with its business characteristics providing long-term income, toll road management is considered to have strong prospects as the foundation of the company’s business. However, before entering the development stage, Waskita’s financial condition must be ensured to be healthy, so that the company has the ability to meet its obligations independently, strengthen the trust of stakeholders, and open up opportunities to obtain funding, including through the capital market. Waskita is directed not merely to extend the time for settling obligations or delay existing problems, he said, but to build a healthier and more sustainable business foundation. Dony conveyed that the company’s recovery process must be structured based on realistic, measurable, and accountable calculations to produce a permanent solution that strengthens the company’s ability to meet its obligations while creating long-term value. In his meeting with the Board of Directors of PT Waskita Karya (Persero) Tbk, Dony revealed that a comprehensive discussion on the direction of the company’s restructuring had taken place. The discussion covered asset valuation, debt structure and repayment capacity, cash flow projections, and the determination of the most appropriate business model to support business sustainability. BP BUMN together with Danantara will continue to oversee the restructuring process so that it does not stop at resolving short-term issues, but truly results in a comprehensive transformation. Through a more focused business model, a stronger financial structure, and increasingly better governance, Waskita is expected to grow into a healthy, competitive company that does not face the same problems again in the future.