Wednesday, May 29, 2024

Jokowi approves US$6 billion capital injection for WIKA

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Audina Nur




President Joko “Jokowi” Widodo has approved the additional state capital injection (PMN) to PT Wijaya Karya (WIKA) amounting to Rp6 trillion (US$419 million).

The policy is stipulated in Government Regulation No. 15/2024 on the addition of PMN into the Share Capital of PT Wijaya Karya.

“The value of the additional state capital injection as referred to in Article 1 is at most Rp6 trillion,” Government Regulation No. 15/2024, cited on Tuesday, April 16, 2024, says.

The additional state capital injection as referred to in the first paragraph is sourced from the 2024 State Budget. Meanwhile, the amount of the additional state capital injection to WIKA as determined by the Minister of Finance is based on the results of the issuance of new shares submitted by the Minister of State-Owned Enterprises (SOEs).

It is reported that discussions regarding the provision of PMN to WIKA were held in September 2023. Whereby, the government through the Ministry of Finance and the Special Committee A of the House of Representatives’ Budget Agency agreed to increase the nominal PMN to SOEs for 2024, from the previous Rp18.6 trillion to Rp30.7 trillion. This means that there is an additional Rp12.1 trillion PMN that will be poured into 2 SOEs − PT Hutama Karya (HK) with Rp6.1 trillion added, and WIKA with Rp6 trillion.

Audina Nur






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