JAKARTA. PT Wijaya Karya (Persero) Tbk (WIKA) has granted additional fund for PT Wika Tirta Jaya Jatiluhur (WTJJ) of IDR 18.99 billion, along with the issuance of new shares of WTJJ.

WIKA is known to have control over 88.38% of WTJJ’s shares. Meanwhile, the extra capital injected by the company will cover only a portion of 42,122 new shares offered by WTJJ.

“The increase of issued and paid-up capital of WTJJ had been approved during Extraordinary General Meeting of Shareholders on November 20, 2024,” added the management of WIKA in the official statement.

The capital injection is projected to be allocated to the construction of Regional Drinking Water Supply System (SPAM) Jatiluhur I, which is now considered as National Strategic Projects (PSN). For the record, WTJJ is a business entity solely assigned to handle SPAM Jatiluhur project.

According to IDNFinancials data, WTJJ is a joint venture established by WIKA along with Jaya Konstruksi. Until September 30, 2024, WIKA has gained IDR 2.25 billion of profit, or equal to 80% of total net profit.

Meanwhile, total consolidated net profit of WIKA within the first nine month (9M) of 2024 was recorded at IDR 741.43 billion. Therefore, the contribution of WTJJ to WIKA’s total net profit in said period did not even reach 1%. (KR/ZH)