JAKARTA (TheInsiderStories) - Public listed construction company PT Wijaya Karya Tbk (IDX: WIKA) seeking fresh funds with worth Rp6.15 trillion (US$469.47 million) through the mechanism of capital increase with preemptive rights in late October. The exercise price for rights issue at the range of Rp1.525 to a maximum of Rp2.505.
CEO of the Company Bintang Perbowo stated, the funds will be used to finance various projects and infrastructure company that today has jumped more than 3 fold over the same period last year.
“We expect can absorb additional funding Rp2,149 trillion from the portion of the public so that the total funds to be obtained later become Rp6,149 trillion,” he said in press statement.
WIKA has pocketed contract of Rp67,1 trillion by the end of September 2016, an increase of more than threefold or 345 percent compared to the same period in 2015 which only recorded a total contract Rp11,472 trillion.
He elaborated more, carry over contract from 2015 amounted Rp29,08 trillion, new contract of Rp13,79 trillion such as the construction Fast Trains Jakarta-Bandung (High Speed Railway) contracts, the Highway of Balikpapan and Manado-Bitung toll road amounting to Rp22.7 trillion, as well as several other projects like the pier, flats, and the case of electric power plants their total value is estimated at more than Rp1.5 trillion.
Bintang explained, several projects have been acquired until mid September include Balikpapan-Samarinda Toll Road , Flyover Railway Medan-Kuala Namu, Elevated Road Maros-Bone, Tol Bawen-Solo Section 2, Automatic People Mover System Airports Soekarno Hatta Dam Kuwil Manado, Review Airport Design in Timor Leste, Flat Athletes Kemayoran, Flyover Semanggi, renovation of the Velodrome Jakarta Flyover Kramasan, Gas Network Prabumulih, Strategic Projects Ministry of Energy and Mineral Resources consisting of SPBGs Bekasi, amenities street lighting, tank biofuel, construction of mini hydro power plant in Papua and several commercial projects such as Transmart Mataram, Transmart Tegal, Sudirman Hill, and a complex of hotels, offices and commercial areas Peak Group-Surabaya.
Indonesia government and the public respectively owned 65.05 percent and 34.95 percent.