JAKARTA – The stock of four state-owned construction companies were still plummeting since the beginning of the COVID-19 pandemic in 2020. Their downturns reportedly reach over 50%, counting from June 24, 2020, to June 24, 2024.

Based on IDNFinancials data today (24/6), these four state-owned companies in question are PT Adhi Karya (Persero) Tbk (ADHI), PT Wijaya Karya (Persero) Tbk (WIKA), PT Pembangunan Perumahan (Persero) Tbk (PTPP), and PT Waskita Karya (Persero) Tbk (WSKT).

Until today’s (24/6) afternoon session, ADHI was arrived at IDR 200 per share, down 67.47% from the closing price on June 24, 2020, of IDR 615 per share. Its market cap sank significantly to IDR 712.16 billion from IDR 2.18 trillion.

Meanwhile, WIKA also reported 92.93% decline to IDR 89 from IDR 1,260 per share seen on June 24, 2020. Its market cap also shrank massively to IDR 798.32 billion from IDR 11.30 trillion.

In the meantime, PTPP managed to be seen at IDR 298 per share at afternoon session, down 65.14% from the closing position on June 24, 2020, at IDR 855 per share. The market cap dropped to IDR 1.84 trillion from IDR 5.30 trillion.

Then, WSKT’s stock has been suspended by Indonesia Stock Exchange (IDX) since February 15, 2023, due to its suspension of payment of 15th interest of Shelf-Registration Bond III Phase IV Year 2019 series B. On June 24, 2020, it was seen closed at IDR 735 per share, with market cap of IDR 9.97 trillion. (LK/ZH)