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Jakarta Post

State infrastructure projects to boost WIKA's earnings next year

  • Alfian

    The Jakarta Post

Jakarta   /   Tue, December 30 2008   /  11:02 am

State-owned construction firm PT Wijaya Karya (WIKA) expects a 15.63 percent jump in revenue in 2009 after a pledge by the government to spend huge state funds next year on infrastructure projects. In a statement Sunday, WIKA forecast its 2009 revenue would rise to Rp 7.4 trillion (US$669 million) from about Rp 6.4 trillion this year, while net profit for 2009 is forecast to rise to Rp 175 billion, up by 21.5 percent on the Rp 144 billion forecast for the end of 2008. WIKA finance director Ganda Kusuma said the company was fully aware of the unfavorable conditions for next year's business, but remained optimistic it would enjoy substantial growth due to government-sponsored infrastructure projects. "The company will focus on government projects (next year) both from the central and regional governments. We will also focus our efforts on securing our liquidity,...