WIKA aims for asset divestment worth Rp5.5 trillion through 2028

PT Wijaya Karya (Persero) Tbk (WIKA) is targeting the divestment of several assets with a total value of approximately Rp5.5 trillion as part of the company’s financial restructuring strategy.

WIKA Finance Director Mulyadi stated that the asset divestments will be carried out gradually from 2026 to 2028.

“The total amount of WIKA’s divestment is approximately Rp5.5 trillion, occurring in 2026, 2027, and 2028. This is part of WIKA’s financial restructuring which we have proposed to banks and bondholders,” Mulyadi said during a virtual public expose in Jakarta on Thursday.

WIKA President Director I Ketut Pasek Senjaya Putra explained that the disposal of these assets is focused on supporting the settlement of the company’s debts. The planned assets for divestment include majority and minority stakes in several toll road sections, water management services, and the energy sector.

According to Pasek, the proceeds obtained from these asset disposal transactions will be allocated to accelerate the repayment of WIKA’s debts. “The profits from these divestments will certainly be used to facilitate debt repayment,” he added.

Efforts to improve WIKA’s financial structure are already beginning to show results. The company reported that total debt levelled off at Rp2.15 trillion during the period from the second quarter of 2025 to the second quarter of 2026.

Since the first stage of financial restructuring in February 2024, WIKA has recorded total obligations paid to banking creditors and bondholders amounting to Rp4.17 trillion. Of that amount, Rp915.83 billion was realised between the second quarter of 2025 and the second quarter of 2026.

At the same time, the issuer has also reduced its trade payables to business partners by Rp5.02 trillion since the first stage of restructuring. Of this, Rp1.23 trillion has been settled between the second quarter of 2025 and the second quarter of 2026, leaving the remaining trade debt at Rp4.32 trillion.