Waskita Karya

PT Waskita Karya (Persero) Tbk, trading as 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

Waskita Heritage, the Waskita Karya headquarters in Jakarta
Company type	State-owned PT
Traded as	IDX: WSKT
Industry	Construction
Founded	1 January 1961; 64 years ago (1961-01-01)
Headquarters	Cawang, 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
Revenue	Rp 16.190 trillion (2020)[1]
Net income	Rp -9.496 trillion (2020)[1]
Total assets	Rp 105.589 trillion (2020)[1]
Total equity	Rp 16.578 trillion (2020)[1]
Owner	Government of Indonesia
Number of employees	1,956 (2020)[1]
Subsidiaries	PT Waskita Beton Precast Tbk. PT Waskita Karya Infrastruktur PT Waskita Karya Realty PT Waskita Toll Road
Website	www.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 27 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:

• APT Pranoto Airport, Samarinda (2018)
• Samarinda International Airport, Samarinda (2014)
• Tsunami Museum, Tsunami Museum, Aceh (2009)
• Wisma BNI, Jakarta (1996)
• Niaga Tower, Jakarta (1992)
• TVRI Tower, Jakarta (1982)