Indonesia's Waskita Karya Sees 28% Revenue Growth in 2015
JANUARY 23, 2015
Jakarta. Indonesian state-controlled construction company Waskita Karya said on Friday it expects its revenue to rise 28 percent to Rp 13 trillion ($1.04 billion) this year.
The company is also planning a rights issue to raise Rp 5.3 trillion in the second quarter to fund infrastructure projects in the Indonesian islands of Java and Sumatra, Corporate Secretary Antonius Yulianto Nugroho told Reuters.
Out of the total rights issue, the Indonesian government will subscribe to Rp 3.5 trillion worth of Waskita Karya shares, according to state enterprise ministry documents presented to the parliament on Monday.
The Indonesian government owned 67.3 percent of Waskita Karya as of March 2014, according to Thomson Reuters data.