Danantara to closely oversee WIKA restructuring
Jakarta (ANTARA) - Head of the State-Owned Enterprises Supervisory Board and Danantara Chief Operating Officer Dony Oskaria has said his office will closely oversee the restructuring of PT Wijaya Karya (Persero) Tbk (WIKA), with financial statements prepared precisely in line with the company’s actual condition.
“Let us be realistic; we do not want any trickery. If something is not there, the approach will be different,” Dony said in an official statement received by ANTARA in Jakarta on Friday.
To oversee WIKA’s restructuring, Dony held a meeting with WIKA’s board of directors to discuss the company’s restructuring strategy. During the meeting, Dony stressed the importance of using figures and conditions that truly reflect WIKA’s position.
According to him, the restructuring process must begin with mapping actual needs so that the solutions prepared can be implemented and have a direct impact on improving the company.
This step is aimed at first determining how much genuinely needs to be fixed, including obligations that must actually be settled and the company’s ability to meet those needs.
With this approach, restructuring will not only produce administrative improvements but also genuinely strengthen the company’s financial condition.
“We want to know first how much actually needs to be fixed. We want to know what is truly needed, what the real financial capacity is that we can immediately collect,” Dony said.
Precise financial statement preparation is one of the key foundations of WIKA’s restructuring process. Accurate data is needed so that corrective measures can be drawn up based on actual conditions, while also providing a clear picture of the company’s future needs.
In addition to financial statement preparation, WIKA’s restructuring will also be directed towards optimising assets that can be divested. These assets are expected to be utilised optimally to help reduce debt obligations and improve the company’s financial structure.
With a realistic approach, WIKA’s restructuring process will not stop at improving figures on paper. Corrective measures are aimed at strengthening the company’s fundamentals, reducing debt burdens, and ensuring WIKA has healthier room to improve its performance and business sustainability.