PT Wijaya Karya Tbk (Persero).

JAKARTA (TheInsiderStories) – State-owned construction company PT Wijaya Karya Tbk (IDX: WIKA) has submitted a proposal for a US$700 million loan to China Development Bank (CDB), related to funding the construction of Indonesia-China high-speed railway connecting Jakarta and Bandung, West Java. Bintang Perbowo, President Director of WIKA said the company with the completion of the entire licensing process, the company expects fresh funds to fund the project to be immediately disbursed. WIKA is part of local consortium Pilar Sinergi BUMN Indonesia, which also includes state railway operator PT Kereta Api Indonesia, state plantation firm PT Perkebunan Nusantara VII and state-controlled toll road operator PT Jasa Marga Tbk (IDX:JSMR). Based on the financial statements extending to the third quarter of 2017, WIKA booked a net profit of Rp682 billion, increased 46.66 per cent, compared to the same period last year, when it marked Rp465 billion.  Meanwhile, WIKA’s net sales rose from Rp9.34 trillion in the third quarter of 2016 to Rp15.88 trillion in the third quarter of 2017, an increase of 69.99 per cent.