ILLUSTRATION. A number of motorists crossed section I of the Bogor-Ciawi-Sukabumi (Bocimi) Toll Road which has not yet operated in Ciawi, Bogor, West Java, Monday (15/10). BETWEEN PHOTOS / Yulius Satria Wijaya / aww / 18.
Reporter: The first is blessed | Editor: Tendi Mahadi
KONTAN.CO.ID – JAKARTA. PT Waskita Karya Tbk (WSKT) announced the divestment of four toll roads which are planned to be completed this year, postponed to 2021.
Thus, WSKT plans to release at least nine toll roads next year. Of which three sections are toll roads located in the Jabodetabek area, one is located in West Java province, two are on the island of Sumatra, two are part of the Trans Java toll network, and one is located in East Java.
Sucor Sekuritas analyst Joey Faustian explained that the amount of interest expense that Waskita Karya bears per quarter could reach Rp 1 trillion, however, the amount of expenses that can be reduced by toll road divestment depends on which sections are divested.
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“It is predicted that with the postponement of the divestment, Waskita Karya will record a loss of Rp 3.2 trillion,” Joey explained, Tuesday (12/1).
The sale of toll nets that will be carried out by Waskita Karya next year is considered to have considerable potential through sale and breakdown. share swap or RDPT.
According to Sucor Sekuritas’ projections, Waskita Karya can release toll roads reaching Rp 27 trillion in 2021 through divestment to Pelindo. asset swap with SMI and toll sales to the Indonesia Sovereign Wealth Fund (SWF).
“If the sale is successful, of course, the prospect of WSKT shares will greatly increase. However, currently the risk is still very high because of the sale toll road usually requires a long negotiation process, “he explained.
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Thus, Joey recommended hold WSKT shares with a target price of IDR 1,150. The WSKT price at the close of trading today was at the level of Rp. 1,070.
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