WIKA Reports Rp 483 Billion Loss in Three Months Due to Whoosh

Throughout the first three months of 2026, or the first quarter of 2026, PT Wijaya Karya (Persero) Tbk, or WIKA, recorded a loss of Rp 483.80 billion from its shareholding in PT Kereta Cepat Indonesia China (KCIC). The loss for WIKA can be seen in the first quarter 2026 financial report published by the company on its official website. This state-owned construction firm continues to bear substantial losses from its involvement in the shareholder consortium for the Jakarta-Bandung High-Speed Rail, or Whoosh. In PT Pilar Sinergi BUMN (PSBI), WIKA holds a 33.36% stake. For context, PT PSBI is the majority shareholder in PT Kereta Cepat Indonesia China (KCIC). WIKA itself is one of the state-owned enterprises assigned as a shareholder in PT KCIC, while also participating in the construction of the Jakarta-Bandung High-Speed Rail project. Meanwhile, in 2024, the portion of losses that WIKA had to bear in PT PSBI reached Rp 1.57 trillion. The losses arising from the KCJB project borne by WIKA are still far smaller compared to those of PT KAI (Persero), where KAI was assigned as the leader of the consortium or majority shareholder in PT PSBI. KAI holds the largest share portion in PSBI, namely 58.53%. Besides KAI, the other PSBI shareholders are WIKA with 33.36% ownership, Jasa Marga at 7.08%, and PTPN VIII at 1.03%.