Analyst Value Project Diversification Maintain WIKA’s Business Activities
BUMNINC.COM | Analysts consider that the diversification of PT Wijaya Karya Tbk (WIKA’s) projects is one of the factors that has kept the company’s business activities awake amid the COVID-19 pandemic.
“The WIKA project is diversified, meaning that the existing project is not heavy on just one project. For example, not only on toll roads or energy alone, WIKA is quite diversified in its projects,” said Panin Sekuritas analyst Ishlah Bimo Prakoso when contacted in Jakarta, Monday (09/11/ 2020).
Regionally, he continued, the projects being undertaken by WIKA are also not only concentrated in the Java Island region, thus increasing the company’s competitiveness in the construction sector.
“WIKA is also working on projects in other areas such as Central Kalimantan with a food estate project, there is also a dam project in Manado. So, we see Wijaya Karya compared to other construction SOEs, we can say that WIKA’s positioning is better,” he said.
Bimo also said that WIKA’s performance was also helped by its subsidiary, which has many business innovations.
“WIKA’s innovation is supported by many of its subsidiaries. Like Wijaya Karya Beton, it is not only the production of concrete, but he also has concrete installation services, continues to develop WIKA Beton homes. From innovation it is quite okay to be assisted by his subsidiary,” said Bimo. Prakoso.
Meanwhile, the economist and founder of the LBP Institute, Lucky Bayu Purnomo, said that to maintain performance, WIKA must have started to explore overseas projects.
“When the country’s GDP is minus, construction will face many challenges, especially those who do domestic work. For this reason, WIKA can target countries whose economies have recovered, especially developing countries because WIKA can become the project leader compared to developed countries whose competitors are quite tight, “he snapped.
In the third quarter of 2020, PT Wijaya Karya (Persero) Tbk recorded a positive performance by posting a profit of IDR 141 billion.
President Director of WIKA Agung Budi Waskito said that the profit of Rp.141 billion was supported by sales of Rp.10.38 trillion.
The incision, he continued, reflects the company’s ability to continue working amid the challenges of the pandemic that has occurred since the beginning of the year.
Agung believes that the company will immediately rise and as the main capital to maintain the company’s capacity, WIKA has also taken a policy to maintain 100 percent of its human resources. [] #BUMNINC.COM
