Waskita Karya

PT Waskita Karya (Persero) Tbk or Waskita Karya is an Indonesian state-owned construction company located in Cawang, Jakarta. It was the result of a January 1, 1961 nationalization of Volker Aannemings Maatschappij NV, the Indonesian branch of what would become VolkerWessels. Waskita specializes in commercial and residential building contracts.[2]

PT Waskita Karya (Persero) Tbk.
TypeState-owned PT
IDX: WSKT
IndustryConstruction
Founded1 January 1961 (1961-01-01)
HeadquartersCawang, East Jakarta, Jakarta Indonesia
Area served
Indonesia
Products
  • Hotel
  • Apartments
  • Offices
Brands
  • Vasaka
  • Teraskita
Services
  • Infrastructure construction
  • Building construction
  • EPC
  • Precast
  • Steel cast
  • Property
  • Investments
RevenueRp 16.190 trillion (2020)[1]
Rp -9.496 trillion (2020)[1]
Total assetsRp 105.589 trillion (2020)[1]
Total equityRp 16.578 trillion (2020)[1]
OwnerGovernment of Indonesia
Number of employees
1,956 (2020)[1]
SubsidiariesPT Waskita Beton Precast Tbk.
PT Waskita Karya Infrastruktur
PT Waskita Karya Realty
PT Waskita Toll Road
Websitewww.waskita.co.id

Controversy

Waskita Karya is known for late paying on their vendors and not been able to pay Maturity Bond Coupons.[3] On the 27th of April 2023 the President Director of Waskita Karya, Destiawan Soewardjono along with 7 other people was detained by the Attorney General's Office of Indonesia for corruption.[4] Destiawan played the role of ordering and approving the disbursement of supply chain financing (SCF) funds using fake supporting documents to be used as payment for the company's debt due to the disbursement of payments for fictitious work projects to fulfill the suspect's request. The total loss of the corruption were about RP 2,5 Trillion (USD 67 Million).[5]

Projects

Selected major projects, by year of completion, are:

References
  1. "Laporan Tahunan 2020" (PDF) (in Indonesian). Waskita Karya (Persero). Retrieved 4 October 2021.
  2. "Company profile: Waskita Karya". Goliath. Archived from the original on February 14, 2009. Retrieved 2009-03-19.
  3. https://www.indopremier.com/ipotnews/newsDetail.php?jdl=WSKT_Belum_Bisa_Bayar_Kupon_Obligasi_Jatuh_Tempo__Apa_Sebab_&news_id=164514&group_news=IPOTNEWS&news_date=&taging_subtype=PG002&name=&search=y_general&q=,&halaman=1
  4. https://www.cnnindonesia.com/nasional/20230511003912-12-948022/buntut-korupsi-dirut-7-karyawan-pt-waskita-karya-diperiksa-kejagung
  5. https://www.medcom.id/nasional/hukum/MkMQQ7Rk-kerugian-negara-akibat-korupsi-di-waskita-karya-diduga-lebih-dari-2-5-triliun
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