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Corporatereport
2014
Company Overview 2
Operation Area 4
Corporate History 6
Report From The Board of Directors 8
Financial Report 10
Business Pillars 12
Business Portfolio 13
Industry 16
Infrastructure & Building 18
Energy & Industrial Plant 20
Realty & Property 22
Human Capital 24
Corporate Social Responsibility 28
Good Corporate Governance 30
Awards 34
Board of Directors 36
Graphic of Total Equity
Business Pillars
Business Portfolio
Illustration of the model of WIKA’s Human Capital Management
Summary valuation report/evaluation of Good Corporate Governance Implementation in 2014
Comparation of GCG WIKA Assesment Score Result 2007-2014
Graphics and Tabels
WIKA and its subsidiaries consolidated statement of financial position as of December, 2014
Graphic of Net Sales
Graphic of Operating Income
Graphic of Net Income
Graphic of Income Attributable to Parent Entity Owner
Graphic of Total Assets
10
10
10
10
11
11
11
12
13
27
32
33
Net Sales in 2014
1.02USD
1.45
billion
Total New Contract
1.08USD
billion
New Contract of Construction Service
179.37USD
million
Total Contract of Precast Concrete bussines in 2014
billion
USD
Continuously generates growth in all circumstances since it never compromises on quality, due to passion to implement “ operational excellence for best results”
Soepomo, SH, Sp.N, LLMCommissioner/Acting President Commissioner
2 3wika corporaTe reporT 2014 wika corporaTe reporT 2014
WIKA is Indonesia’s leading integrated EPC &
Investment company, which has been operating for
over 50 years. It was initially established under a name
of Perusahaan Negara Bangunan Widjaja Karja on
March 11, 1960, following the nationalization of Dutch
company, Naamloze Vennotchap Technische Handel
Maatschappij enBouwbedijf Vis en Co or NV Visen Co.
Its business activity at that time covered the
installation of electricity and water pipe. One of the
contributions of the company in this area can be found
in the infrastructure development of the most famous
sport stadium in Jakarta, Gelora Bung Karno.
Since then and up to today, WIKA’s business has been
continuously expanding, it never stops exploring
various areas of development. In the early 1970’s,
it expanded into a contractor company of civil and
residential buildings. Following its substantial growth,
WIKA turned into a limited liability (persero) company
on December 20, 1972. With the growth of the company
and the skills of WIKA personnel in the construction
industry, a number of subsidiary companies were
then established in order to support its mission as
business ventures that are able to create own products
independently. Some of the subsidiary companies
were: WIKA Beton, WIKA Intrade and WIKA Realty.
WIKA keeps exploring possibilities through utilizing
the advance knowledge and state of the art technology;
and gaining its strength through acquisition and the
establishment of joint ventures.
WIKA’s strength and known success enabled
the company to achieve trust as well as
acknowledgements from many parties. This was
shown by the success of its initial public offering (IPO)
Going global
on October 27, 2007 in Indonesia Stock Exchange.
At that time, 28.46% of its shares were released to the
public, while 68.42% of its shares were held by the
Government of Indonesia. Since December 2012, the
percentage of shares issuance was increased by 35%.
As an appreciation to its employees, they can also
participate in the company’s ownership through the
Employee / Management Stock Option Program (E/
MSOP) and Employee Stock Allocation (ESA).
WIKA had always played a big part in the development
of infrastructures in Indonesia, in which the benefits
can be enjoyed by the society. Suramadu bridge
(connecting Java and Madura) was another examples
of WIKA’s participation in the country’s development.
In 2010, WIKA arranged its new vision in order to face
the global change. WIKA intends to become one of
the best integrated EPC and Investment companies
in Southeast Asia by 2020. This vision is believed
will enable and help WIKA to reach a more optimum,
healthier and sustainable growth.
wika 2014
With a new perspective, WIKA restructures
its business segments into five pillars namely: Industry,
Infrastructure and Building, Energy & Industrial Plant,
Realty & Property, Investment. With such segmentation
WIKA’s performance is expected to be more solid to
attain “operational for the best results” through the
improvement of product quality, more efficient budget
and faster time project completion. By obtaining new
contracts in power generation and oil and gas sectors,
Wika further solidifies itself as one of the players in the
industry, as well as commences management business
of public infrastructure.
Company overview
WIKA keeps exploring possibilities through utilizing the advance knowledge and state of the art technology; and gaining its strength through acquisition and the establishment of joint ventures.
WIKA’s strength and known success enabled the company to achieve trust as well as acknowledgements from many parties.
WIKA intends to become one of the best integrated EPC and Investment companies in Southeast Asia by 2020.
Company Name : PT Wijaya Karya (Persero) Tbk.
Date of Establishment : March 11, 1960
Legal Establishment : Government Regulation No. 2 Year 1960 and
Stipulation Letter of Ministry of General Work
and Electric Energy (PUTI) No. 5 Dated
March 11, 1960.
Stock Listing : All of the Company’s shares are listed in
Indonesia Stock Exchange dated October 29,
2007 with ticker symbol: WIKA
Head Office : Jl. D.I. Panjaitan Kav. 9, Jakarta 13340-Indonesia
T. +6221 819 2808
F. +6221 819 1235
W. www.wika.co.id
4 5wika corporaTe reporT 2014 wika corporaTe reporT 2014
WIKA has diversified business lines, with a focus remained on business related to WIKA core business through a vertical integration strategy (backward & forward integration), in order to provide total solution in the business.
nationwide overseas Saudi arabiaaljazair Myanmar Serawak Timor Leste
Head Office
Factory
Regional Office
Project
Representative Office
operation area
Aside from spreading its operation area worldwide, WIKA has also been developing construction market share in a number of countries
in Asia and Africa.
Precast FactoriesOwned by WIKA Beton11
3.39USD
billion
TotalOrder Book
6 7wika corporaTe reporT 2014 wika corporaTe reporT 2014
Pursuant to Government
Regulation No.2/1960 and
Minister’s Decre of Public Works
and Electric Power (PUTL)
Decree No. 5 dated 11 March 1960,
WIKA was established with the
name of “Perusahaan Negara
Bangunan Widjaja Karja”. WIKA’s
business activities at the time
were electrical and water pipe
installation works.
The establishment of
PT Wijaya Karya Realty
as a progression of
the Realty Division.
Subsequently
PT Wijaya Karya Intrade
was also established
as the progression
of the Industrial and
Commercial Division.
WIKA has defined a new
vision, namely the Vision
2020; to become one of the
best integrated EPC and
Investment Company in
Southeast Asia. The vision is
believed to be able to provide
directions to every WIKA’s
line of business to achieve
optimum, healthy and
sustainable growth.
WIKA is getting more and
more established being a
player of the sector of power
plant as well as oil and gas
through projects it won.
With a number of projects
abroad, WIKA’ action is
increasingly recognized in
the international level.
WIKA established Subsidiary
of PT Wijaya Karya Gedung
that specializes in the
construction of high-rise
building. WIKA acquired
70.08% shares of
PT Catur Insan Pertiwi that
specializes in the field of
Mechanical Electrical. Then
PT Catur Insan Pertiwi was
renamed into PT Wijaya
Karya Insan Pertiwi.
During 2012, WIKA has
successfully completed its power
plant projects with total powers
consist as follows:
• Turbine Gas Power Plant Borang,
60 MW
• Engine Gas Power Plant Rengat
Ambon, 21 MW
• Diesel Engine Power Plant
Ambon, 34 MW
WIKA released its (Initial Public
Offering/IPO) on October 29, 2007
at the Indonesia Stock Exchange
(known at the time as the Jakarta
Stock Exchange). WIKA released
35% of its shares to the public,
so that the Government of the
Republic Indonesia held 65% while
the rest was owned by the public
including WIKA employees (after
ESA, ESOP and MSOP).
WIKA founded its first
Subsidiary company, namely
PT Wijaya Karya Beton.
Along with PT Jasa Sarana
and PT RMI, established
PT Wijaya Karya Jabar
Power specializes in the
development of Geothermal
Power Station (PLTP).
WIKA along with other
companies have succeeded
in constructing the Suramadu
Bridge, a prestigious project
that connects Java and
Madura islands.
• Established joint venture company
PT Prima Terminal Peti Kemas with
PT Pelindo I (Persero) and PT Hutama Karya
(Persero)
• WIKA performed an acquisition of
PT. Sarana Karya (Persero) (“SAKA”) formerly
owned by Government of the Republic of
Indonesia
• Trough Company’s subsidiary company
WIKA BETON established joint venture
company PT WIKA Kobe and PT WIKA
Krakatau Beton
• Share buyback with total 6.018.500 shares at
Rp1,706.77 per share on average.
WIKA formed several new
divisions, namely the
Construction Civil Division,
Buildings Division, Housing
Facilities Division, Concrete
and Metal Products Division,
Industrial Construction Division,
Energy Division, and Trading
Division. The projects that were
handled at that time consist of:
LIPI Building, and Building, and
also Irrigation Project.
“Perusahaan Negara
Bangunan Widjaja Karja”
was changed into “PT Wijaya
Karya”. WIKA then developed
into a construction
contractor by handling
various important projects
such as the installation of
electricity grids at Asahan
and the irrigation project of
Jatiluhur.
WIKA has obtained investment
outcome from the Diesel Power
Plant in Bali and further will
generate result from the power
plant in Ambon, Borang and
Rengat.
Subsidiary Restructuring
Program was conducted
to ensure business growth
sustainability in WIKA Realty,
WIKA Insan Pertiwi, and WIKA
Intrade.
Diesel Engine Power Plant Bali,
50 MW
1960 1982 2000 2008 2010 2012 2014
2007 19971972 2009 2011 2013
Corporate history
WIKA arranged its 2020 vision in order to face the global change. WIKA intends to become one of the best integrated EPC and Investment
Companies in Southeast Asia. This vision is believed to enable and help WIKA to reach a more optimum, healthier, and sustainable growth.
8 9wika corporaTe reporT 2014 wika corporaTe reporT 2014
Dear Shareholders,
Throughout 2014 WIKA has shown its ability to improve
efficiently in all circumstances. Despite a trimming
state budget on government’s infrastructure projects,
as well as delays in a number of projects by the
State-Owned Enterprises (SOEs) coupled with land
acquisition constraints that impact on the realization
of the project, in 2014 WIKA continued to show
significant increase in its revenues. In line with this,
the price of WIKA’s share had shown a rising trend. The
improvements reached the highest level at the price
of Rp3,895 per share in December 2014, an increase of
34.3% compared with 2013.
customer demands to deliver services and products
efficiently and to add value in order to increase
customer’s trust in the Company. Therefor we must
increase the ability of our employees to create and
maintain quality design which will summarized in
product quality, cost efficiency and acceleration of the
time completion of the project in accordance with the
theme of “operational excellence for the best result.”
As a major player of the construction business in a
country whose economic growth is rapidly increase,
WIKA is obliged to maintain and to accelerate the
company’s growth in order to keep up with its
competitors. In this context, WIKA’s leaders are
expected to adjust the rhythm of growth acceleration
of the Company through Human Capital treatment for
displaying operational excellence for the best result,
through the increase quality of the product, cost, and
delivery.
2015 is the commencement year of AFTA (ASEAN
Free Trade Area) which means the arrival of new
competitors from ASEAN countries. However, we
remain optimistic that the efforts of the development
of human capital which was carefully planned, as well
as financial support and a robust infrastructure will
ensure that WIKA is able to compete even outperform
competitors in handling a wide range of public and
private projects in the country. Subsequently WIKA
remains a leader in every tender both government
and private projects. WIKA superiority against foreign
competitors has also been proven through WIKA
projects in Algeria, Timor Leste, Brunei, and Myanmar.
WIKA has also completed various government projects
including Procurement & Construction (EPC) for the
construction of oil and gas storage facilities, and power
plants which made WIKA’s presence as the only state-
owned construction working in the field of oil and gas
were also increasingly taken into account.
In addition to working on the domestic market, the
Company also penetrated foreign markets. A number of
undertaken projects in Algeria, Timor Leste, Brunei and
Myanmar has contributed 10% of WIKA’s total revenue.
We believe that innovation is a key aspect in to face
challenges of 2015. Innovation is needed to answer the
company performance
WIKA is always committed in ensuring that business
management activities are carried out carefully based
on the principles of Good Corporate Governance
(GCG). The Company conducted an assessment of GCG
implementation in accordance with the applicable
provisions which utilized the Company Corporate
Governance Scorecard, where for 2014 the Company
was awarded the Excellent with value 89.231.
WIKA’s Corporate Social Responsibility (CSR) is
directed to support the sustainability of the Company’s
business, therefore, WIKA as a company engaged
in engineering, procurement, construction (EPC)
and investment business, in carrying out business
activities always in synergy with nature, human
resources, and the community to look to the future
sustainability of the Company. One of the Company’s
synergy with nature, human and society was realized
through WIKA Empowerment Patronage in Kampung
Pasir Wind, Gadog - Ciawi, Bogor Regency, WestJava.
WIKA also put great interest and effort in increasing
the welfare of its employees as well as the welfare
of the retired employees through various benefit
and facility, including the attempt to improve the
performance of the pension fund management
foundation.
We believe with high morale and close togetherness,
the Company’s performance in the future will continue
to improve in order to achieve the vision of 2020. We
sincerely thank all employees and other stakeholders
as could have achieved performance that did not
disappoint in 2014. All of the achievements in 2014
were the result of hard work and dedication of our
employees, shareholders, partners, and stakeholders
that have widely given positive contributions to the
Company.
Bintang perbowo, Se, MM
President Director
report fromthe board of direCtors
WIKA’s leaders are expected to adjust the rhythm of growth acceleration of the Company through Human Capital treatment for displaying operational excellence for the best result, in those three things namely the quality of the “product, cost, delivery.”
Innovation is the key aspect to deal with challenges in 2015
WIKA had always played a big part in the development of infrastructures in Indonesia, in which the benefits can be contribute to the society.
10 11wika corporaTe reporT 2014 wika corporaTe reporT 2014
2009 2010
CURRENCY 12,189 12,189
Financial Posititon
Total Assets 467,687,093 515,735,901
Total Liabilities 333,489,114 358,481,989
Total Equity 134,197,977 157,253,913
Results of Operations
Net Sales 540,721,740 494,127,647
Operating Income 39,785,954 39,183,790
Net Income 16,943,469 25,534,601
Income Attributable to:
- Parent Entity Owner 15,524,003 23,375,354
- Non Controlling Interest 1,419,466 2,159,247
Total 16,943,469 25,534,601
Financial Indicator
Return on Equity (%) 12.34 15.81
Cash Ratio (%) 35.25 33.76
Collection Period (days) 48.30 58.39
Debt to Equity Ratio (%) 2.65 2.43
Operating Income Margin (%) 7.36 7.93
Net Income Margin (%) 2.87 4.73
Earning per Share (IDR/share) 33.73 50.15
Number of Employees (persons) 1,290 1,371
2011 2012 2013 2014
12,189 12,189 12,189 12,189
687,101,228 904,156,879 1,033,305,661 1,305,698,719
504,844,642 671,627,644 768,562,132 897,235,496
182,256,586 232,529,236 264,743,529 408,463,223
638,971,047 812,635,522 975,032,205 1,022,497,029
54,187,160 71,376,254 99,758,956 114,933,070
32,666,816 42,929,574 51,224,192 61,596,179
29,083,501 39,051,713 46,758,549 50,470,212
2,990,213 3,877,862 4,465,643 11,125,966
32,073,714 42,929,574 51,224,192 61,596,179
17.11 18.35 19.33 22.22
24.27 23.28 19.00 27.15
62.38 49.67 45.37 57.48
2.95 3.16 3.18 2.74
8.44 8.78 10.23 11.24
4.58 4.81 4.80 4.94
60.59 77.96 92.93 100.19
1,398 1,619 1,809 1,912
GraphiC of net sales
2010
1000
500
02011 2012 2013 2014
(in million USD)
670
859
1,204 1,022975
GraphiC of operatinG inCome
2010
100
50
02011 2012 2013 2014
(in million USD)
53
73
90
115
100
GraphiC of net inCome
2010
50
25
02011 2012 2013 2014
(in million USD)
35
44
5462
51
2010
50
25
02011 2012 2013 2014
(in million USD)
GraphiC of inCome attributableto parent entity owner
32
39
49 5147
GraphiC of total assets
2010
2000
1000
02011 2012 2013 2014
(in million USD)
699
1,1401,306
1,033
923
GraphiC of total equity
2010
500
250
02011 2012 2013 2014
(in million USD)
213 245293
409
265
wika and its subsidiaries consolidated statement of financial position as of December, 2014
(expressed in USD, unless otherwise stated)
finanCial report
12 13wika corporaTe reporT 2014 wika corporaTe reporT 2014
business pillars business portfolio
WIKA kept innovating. It slowly but surely turned into an integrated infrastructure company. A number of subsidiary companies were established
to make its business movement become stronger.
With a new perspective, WIKA restructures its business segments into five pillars namely: Industry, Infrastructure and Building, Energy and Industrial Plant, Realty and
Property, Investment. With such segmentation WIKA’s performance is expected to be more solid to attain “operational for the best results” through the improvement of
product quality, more efficient budget and faster time project completion.
infrastruCture & buildinG
enerGy & industrial plant
realty &property
industry investment
CIVIL CONSTRUCTION• Road and Bridge• Seaport, Jetty• Dam & Barrage
BUILDING CONSTRUCTION• Residential & Commercial• Airport• Facility
STEEL CONSTRUCTION• Erection• Equipment Instalation
EPC• Oil & Gas Plant• Petrochemical Plant• Cement Plant, Power Plant• Mining, Biofuels, Fertilizer
OPERATION AND MAINTENANCE• Power Plant• Industrial Equipment
REALTY & PROPERTY• Landed House• Highrise (Apartment,
Condotel, Office Mix Use)• Industrial Estate
PROPERTY MANAGEMENT
PRECAST CONCRETE• Precast Concrete Product• Natural Resources
Management
INDUSTRIAL FACILITIES• Steel Fabrication• Aluminum Casting• Plastic Injection
BITUMEN• Granular Asphalt• Extraction Asphalt
ENERGY
WATER ENVIRONMENT
TRANSPORTATION INFRASTRUCTURE
Se
rv
ice
S/p
ro
DU
cT
SD
ep
ar
TM
en
T, S
UB
SiD
iar
ieS
, aS
So
cia
Te
S Civil Work DepartmentOverseas DepartmentBuilding Department
Industrial Plant DepartmentEnergy & Power Department
Building Department Energy & Power Department
62.71%
51%
40%
20%
2.1%
0.4%
15%
20.4%
70%
99.50%
85.26% 96.50% 90.04% 99% 99%
investment in associate
14 15wika corporaTe reporT 2014 wika corporaTe reporT 2014
WIKA’S ABILITY TO MAINTAIN A POSITIVE PERFORMANCE IN SUCH SITUATION COULD NOT BE SEPARATED FROM THE MANAGEMENT’S SUCCESS IN WORKING CLOSELY WITH ALL STAFF TO BE PREPARED TO DEAL WITH AN UNFORTUNATE SITUATION AND HAS KEEN EYES TO CAPTURE EVERY OPPORTUNITY.
IN ADDITION, EACH EMPLOYEE IS CHALLENGED TO PRODUCE OPTIMAL OUTPUT IN ACCORDANCE WITH THE 2014 THEME OF “OPERATIONAL ExCELLENCE FOR THE BEST RESULT.”
16 17wika corporaTe reporT 2014 wika corporaTe reporT 2014
Income Attributable to Parent Entity Owner
Net Sales
17.91
291.72USD
USD
million
million
industry
2 3
Indonesian Chemical Alumina, Tayan
WIKA’s Industrial Area, Cibinong
WIKA Bitumen Granular Asphalt Factory, Kabungka, South East Sulawesi
1
2
3
1
Industry, that engaged in: Precast Concrete (works
on precast concrete product, natural resources
management), Industrial Facilities (works on
fabrication stainless, aluminum casting, plastic
injection) and Bitumen ( works on: granular asphalt
and asphalt extraction).
This Business Pillar is managed by: WIKA Beton, WIKA
Kobe, WIKA Krakatau Beton, PT Citra Lautan Teduh,
WIKA Industri & Konstruksi, WIKA Bitumen.
During 2014 Industry segment succeeded in obtaining
new contracts worth USD205.92 million, or a decrease
of 16.27% over the acquisition of new contracts in 2013,
which amounted to USD245.30 million.
Net sales in 2014 increased significantly by 14.69% to
USD291.25 million in 2014, from USD254.33 million
a year earlier. Cost of goods in 2014 amounted to
USD246.94 million, up 14.30% compared to the year
2013, which amounted to USD215.77 million. The
Total opening income worth USD36.95 million in 2014, increased by
from 2013 which was USD29.82 million.
23.90%
increase in Income Attributable to Parent Entity Owner
did not increase significantly as a result of the IPO
WIKA Beton that reducing the ownership on WIKA
Beton
This achievement strengthens the position of WIKA
as the best company in the field of Engineering,
Procurement and Construction (EPC) and integrated
investment in Southeast Asia. WIKA’s opportunity
to expand the market that have an impact on the
performance improvement will be more open as the
continuation of the Master Plan for the Acceleration
and Expansion of Indonesian Economic Development
(MP3EI) this year.
WIKA’s opportunity to expand the market that impacts
the performance improvement will be more open as
the Master Plan for the Acceleration and Expansion
of Indonesian Economic Development (MP3EI) will
continue to be implemented this year.
18 19wika corporaTe reporT 2014 wika corporaTe reporT 2014
infrastruCture & buildinG
Infrastructure & Building is engaged in: Civil
Construction (work on Road & Bridge, Seaport, Jetty,
Dam and Barrage), Building Construction (work on
Residential & Commercial, Airport, Facility) and
Steel Construction (work on Erection, Installation
Equipment).
This Pillar is managed by: Civil Work Department, Civil
Work Department 1, Civil Work Department 2, Civil
Work Department 3, Overseas Department, Building
Department, and by 2 subsidiaries: WIKA Industri &
Konstruksi, WIKA Gedung.
During 2014 Infrastructure and Building segment
succeeded in obtaining new contracts worth USD831.90
mllion, an increase of 3.15 % over the acquisition of
new contracts in 2013, which amounted to USD806.46
million.
Infrastructure and Building Segment gained net sales
income of the sale of USD392.98 million, down 5.78%
compared to 2013, which amounted to USD417.59
million. Cost of goods and businesses also decreased
from USD383.13 million in 2013 to USD363.44 million in
2014.
Infrastructure and Building Segment also posted
an increase of 24.72% in joint venture income from
USD19.35 million in 2013 to USD24.19 million in 2014.
In 2014 the income attributable to parent entity owner
was USD16.37 million. Overall net sales in 2014 reached
the number USD393.75 million. Income Attributable to Parent Entity Owner
Net Sales
16.37
393.75USD
USD
million
million
Ngurah Rai International Airport, Bali
Casablanca Flyover, Jakarta
24.72%
Infrastructure and Building segment also posted Joint Ventures Profit for USD24.14 million, an increase of
compared to 2013, which amounted to USD19.35 million.
1 2 3
2
3
1
GMF Aero Asia,Garuda Indonesia Group
20 21wika corporaTe reporT 2014 wika corporaTe reporT 2014
enerGy & industrial plant
Energy & Industrial Plant is engaged in: EPC ( works
on: Oil & Gas Plant, Petrochemical Plant, Cement
Plant, Power Plant, Mining, Biofuels, Fertilizer), and
Operation & Maintenance ( works on Power Plant,
Industrial Equipment). In this segment includes
investments in the electricity sector that the majority
of the funding and operation is controlled by Company.
This Pillar is managed by: Industrial Plant Department,
Energy & Power Department And by a subsidiary: WIKA
Rekayasa Konstruksi.
The Company’s comprehensive range of services for
the entire lifecycle of energy and industrial plants and
mastery in working capacity and constant delivery
of high quality work results are keys to perform as a
leading national contractor that is able to compete with
multinational oil & gas companies. Other than that, the
Company is also synergizing with foreign companies
and continuously increasing the quality through the
advancement of competency-based work team in order
to become the top profit contributor to the Company
and Indonesia.
During 2014 Energy and Industrial Plant Segment
succeeded in obtaining new contracts worth USD297.81
million, a slight decrease of 0.96% over the acquisition
of new contracts in 2013, which amounted to USD301.09
million.
Net sales in 2014 amounted to USD261.70 million, an
increase of 8.83% compared with the year 2013 which
amounted to USD240.46 million. Net sales in 2014
reached the number USD261.70 million, an increase of
8.83% compared with the year 2013 which amounted to
USD240.46 million, while income attributable to parent
entity owner was USD7.79 million.
Net sales from sales in 2014 amounted to USD261.70 million, an increase of
compared with the year 2013, which amounted to USD240.46 million.
8.83%
Alumina Indonesian Chemical Alumina (ICA), Tayan, West Kalimantan
Asphalt Mining, Pasar Wajo, Buton, South East Sulawesi
Diesel Power Plant 50 MW, Bali
Income Attributable to Parent Entity Owner
Net Sales
7.79
261.70USD
USD
million
million
1
1
2
3
2 3
22 23wika corporaTe reporT 2014 wika corporaTe reporT 2014
Income Attributable to Parent Entity Owner
Net Sales
8.46
106.68USD
USD
million
million
The Hive Tamansari Apartment, Jakarta
Sky Lounge Tamansari, Tangerang
Tamansari Bukit Mutiara, Tangerang
realty & property
Realty & Property is engaged in: Realty & Property
(landed house, high rise building apartment, condotel,
office mixed use, industrial estate) and Property
Management.
This Pillar is managed by Building department by 2
subsidiaries: WIKA Building, WIKA Realty.
The business has expanded to essential projects
intensification like real estates, hotels, apartments,
office buildings and industrial area expansion. WIKA
Realty provides a quality service that is unique to
the industry and delivers a distinct competitive
advantage. Top brands like Taman Sari, The Hive, La
Grande, The Lagoon Tamansari and De Papilo reflects
the Company’s achievement in this industry. The
Company is striving to meet the need of housing
14.29%
Net sales in 2014 amounted to USD106.68 million, an increase of
from the previous year which amounted to USD92.83 million.
1 2 3
1
2
3
occupancy demand, and with its extensive and
detailed knowledge of the market result in a better
understanding of customer’s demand.
During 2014 Realty and Property segment succeeded
in obtaining new contracts worth USD110.76 million,
or an increase of 16.27% over the acquisition of new
contracts in 2013, which amounted to USD101.73
million.
Total Operating Income in 2014 was USD17.04 million
an increase of 21.65% to the year 2013 which amounted
USD14.00 million, while the income attributable to
parent entity owner was USD8.46 million in 2014. This
segment’s net income in 2014 amounted to USD106.68
million, an increase of 14.29% from the previous year
which amounted to USD92.83 million.
24 25wika corporaTe reporT 2014 wika corporaTe reporT 2014
WIKA has continuously growing and brought
consequences to the Company to implement human
resource management as human capital. The
implementation of human capital management
will support the achievement of the company’s
vision to become the best company in engineering,
procurement, and construction or EPC as well as
investment in the Southeast Asia.
The implementations of human capital management
become crucial matters as the presence of employees
have a strategic function for WIKA. Indefinitely,
employees’ welfare, developmental program as well as
procurement educational training also implemented
along with human capital. In implementation of human
capital management, employment management
done by using dignity concept as employees regarded
as company asset. By appointing dignity of the
employees, it means the company values the individual
as a whole human being, that is their physically/
material as well as their psychological/immaterial
being. This concept is believed to make individuals feel
appreciated, happiness, have passion in working and
connection to the company, which will lead to high
work performance.
Along with higher work performance, the company
keeps on strengthening the implementation of human
capital management. Several actions have already
been done throughout the reporting period, among
others:
1. Organisational research; organisational review to
adjust WIKA business development and long-term
direction plan
2. Recruitments of new employees
3. Development program to create successful associate
with Advance Leadership Program (ALP) and
Executive Development Program (PPE)
4. Established WIKASTRIAN, a Leadership Training
Centre based on local wisdom
5. Research on generation gap in the company,
characteristic identification “Generation Y” and
followed by forming program to answer generation
gap characteristic.
6. Implemented excellence service concept to
employees by using “care and speed” motto, paying
attention to employees’ need, and giving fast service.
Dignifying someone as a whole person is believed to boost a sense of appreciation, a sense of happiness, working spirit, engagement with the Company, and finally generating the excellent performance.
The implementation of human capital management shall be crucial as the employee existence gives strategic function to WIKA.
human Capital
26 27wika corporaTe reporT 2014 wika corporaTe reporT 2014
WIKA regards its employees as human capital, the
primary capital in the company. Every single employee
is an investor to the company, as they were expected
to invest all of their competencies to the company.
WIKA used competencies based human capital and
dignity concept to every employee in implementing
human capital management to fulfilled a win-win
solution on organization as well as individuals needs.
The company realizes that human capital holds an
important role as business partner, thus set the year
2014 as Human Capital Year.
Human capital Management
The model of wika’s Human capital Management can be illustrated as follows:
WIKA sees each employee as “human capital” that is the main capital in the company. Each employee is the investor for the company, which is expected to invest all their competence to the company.
WIKAVISION & MISSION
TOWARD 2020
WIKA GOVERNANCEWIKA CULTURE &
VALUES
RESULTSWIKA SCORE CARDS
HC SCORE CARDSBRAND EMPLOYER
WIKA BUSINESS PORTFOLIO
STRATEGIC GOALSGRAND STRATEGY
HC STRATEGYBUSINESS
ALIGNMENT
SPEED
CARE
TALENT &SUGGEStION
LEARNING &DEVELOPMENt
RETIREMENT
TOTALREWARD
EMPLOYEERELATIONS
RECRUITMENT &PLACEMENT
PERFORMANCEMANAGEMENt
ORGANIzAtIONDEVELOPMENt
PEOPLE
COMPETENCY
DIGNIty
CULTURE
LEADERSHIP
ENGAGEMENt
28 29wika corporaTe reporT 2014 wika corporaTe reporT 2014
WIKA’s Corporate Social Responsibility (CSR) is aiming
to support the sustainability of the Company’s business
therefore WIKA conducted its business activities to
be in synergy with its environment, human resources,
and the community. To further improve the CSR
performance, in late 2014 WIKA has begun developing
a CSR blueprint referring to the ISO26000 guidelines.
As part of the preparation, a mapping on strategic
sustainability issues that had a significant impact
on the company was carried out. Based on the CSR
blueprint, WIKA’s CSR activities will be increasingly
focused toward making a positive contribution, to all
stakeholders as well as to the Company.
WIKA is committed to being an EPC company
and performing various investments that support
environmental sustainability. Gradually, the Company
seeks to carry out its operations through the
development of environmentally friendly construction
and buildings. Up to 2014 WIKA has implemented
331,955 tree plantings in numerous WIKA’s operational
areas.
In 2014, the WIKA Partnership Program focused on
two (2) business sectors, i.e. trade and services. In the
services sector, funds of capital loans were disbursed
for small business partners. In 2014, the number of
the WIKA’s trained partners in the services sector was
188. The partnership fund distribution was spread
in several areas, such as Jakarta, West Java, West
Sumatra, Central Java, East Java and Yogyakarta. As
for the trade sector, WIKA has disbursed capital loans
WIKA believes that through sustainable activities, a harmonized growth in economic, society and environmental can be achieved.
Corporate soCial responsibility
PROFITFair Operating PracticesCorporate Governance
Consumer Issues
PLANETThe Environment
PEOPLELabour Pratices
Human RightCommunity
Involvement & Development
COMMUNITY EMPOWERMENT
EDUCATION
ENVIRONMENT
HEALTH
1 2
3 4
to batik makers, leather craftsmen, sellers of fertilizers
and pesticides as well as a grocery shop. The number
of partners in this sector in 2014 was eight (8) trained
partners spread in Jakarta, West Java and Central Java.
Management applies the principle that an increase in
the welfare of employees WIKA must be proportionally
in line to the growth of the company’s performance.
On a continuous basis, the Company conducts
training to improve the competence and skills of its
employees. WIKA ensure the welfare of the employees
by providing the best benefit and facilities, as well as
the welfare of the retired employees. The management
also improving the performance of pension fund
management foundation.
Sengon Tree Planting, Bogor Bosletong Education & Training Society Empowerment Workshop, Ciawi Bogor1 2 3 4
30 31wika corporaTe reporT 2014 wika corporaTe reporT 2014
GCCGGCGCG
Good corporate Governance
Good Governed corporation
Good corporate citizenwika’s next Mission
To comply with the applicable
law and regulation (obligation
and voluntary).
To establish a better ‘internal
control’ management especially
in effectively handling business
risks through suitable risk
management.
To attain a position as an ethical
and responsible company,
also known as good corporate
citizen.
commitment in GcG implementation
Good Corporate GovernanCe
WIKA sought the importance of Good Corporate
Governance (GCG). A strong commitment to
implement GCG is a foundation to achieve triple
bottom line, through a healthy and strong financial
work performance, and development of excellent
human resources. Moreover, WIKA also contributing to
maintain continuous green natural resources.
Through planned, systematic, and continuous
implementation of GCG, WIKA has already become
one of highly competitive open-listed company. It is
proven by WIKA’s growth synergy, diversification of
business lines, stock performances, excellent human
capital, and its ability to develop external stakeholders.
This achievement has been acknowledge as WIKA is
listed in 30 Indonesian Issues in ASEAN Corporate
Governance Scorecard, released in Indonesia Institute
for Corporate Governance (IICG) in 25th March 2013
with Indonesia Trusted Company title.
All of the employees of WIKA are proud with the
achievement since ASEAN Corporate Governance
Scorecard is a benchmark for open-listed company’s
GCG, approved by ASEAN capital market authorities as
part of preparation to enter ASEAN free market area
2015. The trusted company title has also showed that
WIKA’s commitment to build systematic , planned and sustainable Good Corporate Governance (GCG) has brought WIKA in becoming an open company that creates continues competition shown by the growth of business synergy, diversified business unit, stock performance, excellent human capital, and ability to support external stakeholders.
WIKA has succeeded in implementing GCG in national
level and reassured the community that WIKA has
committed in implementing corporate governance
consistently and continuously. This achievement
has motivated WIKA to compete in ASEAN Economic
Community era.
By implementing GCG, it means the company obeys
the Regulation of Ministry of State Enterprises No. PER
01/MBU/2011 dated 1st August 2011 on Implementation
of Good Corporate Governance in state enterprises.
The implementation of GCG has positive impact on the
internal environment of the company as well as the
external environment. The implementation of GCG in
state enterprises is expected:
1. Optimizing state enterprises value thus the company
have strong competitiveness, nationally and
internationally, thus it can maintain its existence
and its competitiveness continuously.
2. Encourage state enterprises management
professionally, efficiently, and effectively, as
well as empower the function and increase the
independence of the company organ
3. Encourage the company organ in making decision
and running the action based on high moral
value and comply with the legislation, as well
as acknowledgement to state-enterprises’ social
responsibilities to stakeholders and environment
around it.
4. Increase the contribution of state enterprises in
national economy
5. Contribute to favorable climate in national
investment development.
the implementation of Good Corporate Governance gives a positive impact to both intenal and external environment in the Company.
implementation of operational activities run
in accordance with prevailing legislation. GCG
implementation is an act of obedience to the
Regulation of Ministry of State Enterprises No.PER
01/MBU/2011. Company sought GCG as base to
the realization of business ethics practices as
Good Corporate Citizen, aside from functioning as
maintaining company sustainability.
As an open-listed company that administered
professionally, WIKA has always try to make the
The purpose of GcG implementation
32 33wika corporaTe reporT 2014 wika corporaTe reporT 2014
The purpose of GCG implementation are:
1. Optimizing state enterprises value thus the
company have strong competitiveness, nationally
and internationally, therefore it can maintain its
existence and its competitiveness continuously
2. Giving certainty and benefits to the company’s
stakeholders. Creating balance of company’s interest,
in accordance to the company’s values. Increasing
credibility and company’s competitiveness.
3. Building company’s positive image. Reinforce the
restrictions relating to business ethics.
Since 2006, WIKA has assess the implementation of
GCG periodically:
1. Test and asses GCG implementation in the company
through elaborating condition and comparing
indicator and assessment parameter which has been
specified.
assessment of GcG implementation
No. Aspect/Indicator/Parameter Weight2014 Achievement
DescriptionScore Achievement (%)
I Commitment to continuous GCG implementation 7.000 5.930 84.7 Good
II Shareholders and GMS/capital owner 9.000 8.390 93.2 Very Good
III Board of Commissioners/Supervisory Board 35.000 33.902 96.9 Very Good
IV Directors 35.000 32.734 93.5 Very Good
V Information disclosure and Transparency 9.000 8.274 91.9 Very Good
VI Other aspect 5.000 0.000 0.0 Not Quite Good
89,231 Very Good
Summary valuation report/evaluation of Good corporate Governance implementation in 2014 Comparation of GCG wika
assesment sCore result 2007-2014
201120102009 2014201320082007
81.83 85.56 86.20 86.0886.97 89.34 89.27
GCG Scores converted in accordance with SK-16/S.MBU/2012(Source : Internal Simulation)
WIKA’s perspective toward GCG is a basic foundation to create a good business ethics to be a Good Corporate Citizen and to create a company’s sustainability.
WIKA as a public companywith a professional management always striving to implement its operational activities in compliance with the prevailing regulations.
2. Give overview of the assessment results through
the provision of value on GCG implementation,
after recommendation is proposed, in order to
reduce the gap between the level of practice with
indicators and assessment parameters
3. Monitoring the consistency of GCG
implementation in the company organizational
environment, as well as to obtain feedback for
the improvement and development of corporate
governance policies
4. Encourage company management to increase
professionalism, transparency, and efficiency, as
well as empowering the function and increase the
independence of company organ.
34 35wika corporaTe reporT 2014 wika corporaTe reporT 2014
international Federation of asian and western Pasific Contractors’ associations (iFawpca)
March 5th, 2014
IFAWPCA Gold Medal for Civil Engineering Construction of Jatigede Dam
Majalah investor
May 8th, 2014
Top Performing Listed Companies 2014
BUMn Marketing award 2014
august 21st, 2014
Silver in Strategic Marketing & Bronze Tactical Marketing
warta ekonomi award
april 29th, 2014
Indonesia Most Admired CEO 2014
warta ekonomi award
april 29th, 2014
Indonesia Most Admired Company 2014
warta ekonomi
november 26th, 2014
Most Powerful & Valuable Company Integrated Infrastructure and Construction Category (Property)
corporate image award 2014
June 4th, 2014
The Best in Building and Managing Corporate Image
Economic Challenges Awards 2014 Infrastructure Category
BUMn Marketing award 2014
august 21st, 2014
awards
WIKA further solidifies itself as one of the players in the industry, as well as commences management business of public infrastructure.
36 37wika corporaTe reporT 2014 wika corporaTe reporT 2014
He has been reappointed as the President Director since
April 22, 2015. Formerly, he was the President Director for
the period of 2008-2014. Bintang Perbowo was the Finance
Director of PT Pembangunan Perumahan (Persero) from
1999-2008 and had other important positions in the same
company.
He earned Master Degree in International Management from
Prasetya Mulya Business School in 1997 and Bachelor Degree
in Economics from Krisnadwipayana University, Jakarta in
1990. Bintang Perbowo earned an award as “The Performing
Construction CEO Indonesia Most Admired CEO” in 2013
from Warta Ekonomi. In 2014 he was awarded the “Best of
the CEO Commitment on Human Capital Development” from
Dunamis.
Bintang perbowo, Se, MMpresident Director
1
12
34 5
67
He has appointed as Director of PT Wijaya Karya (Persero)
Tbk. since April 25, 2013. Destiawan Soewardjono started his
career in PT Wijaya Karya (Persero) Tbk. since 1988 and other
operational positions in WIKA as the General Manager of
Overseas Division (2012-2013), Manager of Overseas Division
(2008-2011), and Project Manager of East West Motorway
– Aljazair (2009-2010), Now he is serving as President
Comissioner of the Subsidiary WIKA Gedung.
He earned his Master degree in Management from University
of Gajah Mada, Yogyakarta in 2008 and his Bachelor Degree
in Civil Engineering from University of Brawijaya, Malang
in 1987.
ir. Destiawan Soewardjono, MBaDirector of operation iii
5
He has been appointed as Vice President Director since April
22, 2015. Besides, he is the President Commissioner of WIKA
Beton since 2013 and formerly, the Director of Operation I
(2008-2014). Budi Harto started his career in the Company
since 1984 and held several important positions, among
others: the President Commissioner of PT WIKA Gedung
(2009-2010), the President Commissioner of PT WIKA Intrade
(2008- 2009), General Manager of General Civil in 2008, and
General Manager of Operation 1 (2006-2007).
He earned Master Degree Program in Industrial Psychology
from Universitas Tujuh Belas Agustus, Surabaya in 2002,
Master degree in Management from Gajah mada University,
Yogyakarta in 1997, and Civil Engineering from Universitas
Sebelas Maret, Surakarta in 1983.
ir. Budi Harto, MMvice president Director
2
He has become the Director of Finance of PT Wijaya
Karya (Persero) Tbk. since April 25, 2013 and the President
Commissioner of PT WIKA Industri & Konstruksi since 2013.
Adji Firmantoro started his career in PT WIKA since 1984
and has been assigned in several important positions in the
Subsidiary Companies, among others: Director of Finance of
PT WIKA Beton (2002-2011) and PT WIKA Intrade (2011 2013).
This time, he is still serving as Commissioner of the
Subsidiary PT WIKA Industri & Konstruksi. He earned his
Master Degree from PPM Business School, Jakarta (1997)
and his Bachelor Degree in Economics from Gadjah Mada
University, Yogyakarta (1984).
Drs. adji Firmantoro, MMDirector of Finance
6
Indonesian citizen who was born in Bandung on January,
28 1963. In 2012 he worked as an Expert Staff of President
Director of PT. Angkasa Pura II and in 2014 became the
Director of Cargo and Business Development of PT. Angkasa
Pura II. Today he provides consultancy services to Bappenas
and Puslitbang Udara.
He graduated in Physics from Bandung Institute of
Technology in 1990 and in 1998 he earned his MBA degree in
Technology also from Bandung Institute of Technology.
Yusmar anggadinataDirector of Human capital & Business Development
7
Indonesia citizen who was born in Jakarta on May, 7 1961.
From 2000 until 2007 he was the Manager for Bekri Lampung
Irrigation Project and has been assigned in several important
positions, among others were the Commercial Manager for
Divisi Sipil Umum II and Manager for Divisi Sipil Umum I.
Today he is the General Manager of Departemen Sipil
Umum I.
Gandira Gutawa Sumapraja graduated from Bandung
Institute of Technology in 1985 majoring in Civil Engineering.
He then earned his Master Degree in Management from
Universitas Indonesia in 2000.
ir. Gandira Gutawa, MMDirector of operation i
3
He is the Director of Operation II of PT Wijaya Karya (Persero)
Tbk. Also, he is the President Commissioner of PT Wika
Rekayasa Konstruksi since 2013. Bambang Pramujo started
his career in PT Wijaya Karya (Persero) Tbk since 1984 and
held several important positions in the Company as well as
the Subsidiary Companies, among others: the Commissioner
of PT Wika Rekayasa Konstruksi (July-October 2013) and
the President Commissioner of PT Marga Nujyasumo Agung
(MNA).
He was also the General Manager of various business units,
e.g. EPC Dept., Energy Dept., Utility Dept., and Industrial
Plant Dept. (2005-2013). He earned his Master Degree in Civil
Engineering from University of Indonesia, Jakarta in 1999,
and Bachelor Degree in Civil Engineering from Universitas
Sebelas Maret, Surakarta in 1983.
ir. Bambang pramujo, MTDirector of operation ii
4
board of direCtors
Through the operating system implementation, there is no resources are wasted or unused in any operation since proven to be efficient and effective.
Through Operational Excellence, WIKA builds management integrations that boost productivity, increase efficiency and grow profits.
38 39wika corporaTe reporT 2014 wika corporaTe reporT 2014
quality seCurity safety health environment
wika’s policy for the Quality control, risk and Safety Management System
WIKA has developed an integrated policy covering
the management system of Quality Control, Risk
and Safety within PT Wijaya Karya (Persero), Tbk.
Such policy is issued by the top management to its
employees so that every individual in the company
can continuously develop and perform their jobs
productively, in order to support their business units,
as well as the entire WIKA companies in achieving the
work objectives.
Customers as stipulated by this policy include not only
those who useWIKA’s services, but also include anyone
who has connections to WIKA. This needs to always be
reviewed by the top management periodically.
WIKA’s policies are distributed by the top management to its employees in order to support work productivity with zero accident, efficient use of resources and prevention of environmental incident.
wika QSSHe policy
The WIKA QSSHE Policy has been made separated
from other policies in order to emphasize WIKA’s solid
commitment that was issued by the top management
to its employees, that is to avoid work related accident
and illness, and to avoid environment pollution in
accordance with each line of work. This Policy is inline
with WIKA’s objectives of zero accident, efficient use of
resources, and prevention of environment incident.
Safety Morning Talk, Jati Gede Dam, Sumedang, West Java.
Safety Morning Talk, Eastwest Motorway Project-Algeria.
Gymnastics Taiso, Palm Oil Refinery Complex Project, Kota Barum, South Kalimantan.
Safety Talk - Baburaja Persimpangan Road, Brunei Darussalam.
1
2
3
4
1 2
3 4
40 41wika corporaTe reporT 2014 wika corporaTe reporT 2014
Since the Company listed its shares for the first time in
October 29, 2007 with the agreement of parliament
No. KD. 01/3406/DPRRI/2007 dated April 26, 2007 and
Extraordinary General Meeting of Shareholders No.RIS
15/D2.MBU/2007 which is held in June 14, 2007, and
also based on approval letter from Ministry of State
Owned Enterprise No. F-717/ MBU/2007, dated October
8, 2007 regarding the approval for Employee Stock
Allocation (ESA) and Employee Stock Option Plan &
Management Stock Option Plan (ESOP/MSOP),
PT Wijaya Karya has its own stock code named
WIKA.
The total shares owned by WIKA as December 30,
2014 is counted as 6,149,225,000 shares. Those shares
consist of Government owned shares as 65.05%, local
investors as 15.59%, foreign investors as 18.13% and
employees as 1.23%. During 2014, the highest stock
price of WIKA has been achieved on Quarter IV at
Rp3,895 and the lowest price occured on Quarter I at
Rp1.570. At the end of 2014, total market capitalization
amounted at Rp2.6 trillion.
Basic information
Stock exchange listing : Indonesia Stock Exchange
Industry : Engineering & Construction
Services
Stock Code (Reuters) : WIKA.JK
Trading unit : Share
Market Capital
(as of 30 Dec 2014) : USD1.854.130.774
Number of shareholders : 6.149.225.00
WIKA is committed to the stakeholders by continuously innovating in order to achieve a better performance in all aspects.
stoCk information
Shareholders 2009 2010 2011 2012 2013 2014
Government 68.42% 68.42% 66.65% 66.37% 68.42% 65.05%
Employee 3.14% 2.98% 3.03% 2.02% 1.60% 1.23%
Public
Foreign Investors 1.20% 1.78% 11.97% 14.38% 14.45% 18.13%
Local Investors 27.24% 26.82% 18.35% 17.23% 18.80% 15.59%
Shareholders composition
Shareholders Structure
65,05%Government
15.59%Public (local)
18.13%Public (foreign)
1,23%Employees
Total outstanding shares as December 30, 2014:
6.149.225.000
Deviden policy
WIKA became a public company in 29 October 2007.
The Company continuously strives to fulfill the
rights of the shareholders and yet placing attention
on Company’s financial condition. The Company’s
decision on dividend payout is based upon, among
others, the net income earned during the fiscal year,
the Company’s obligation to allocate reserve funds in
conformity with applicable rules and the Company’s
financial condition. In addition, the Company also
considers future growth and expansion plans in the
stipulation of dividend sharing.
Since going public in 2007, the Company has placed
dividend payout to all shareholders in 4 (four)
occasions as follows:
• On May 15, 2008 the Annual General Meeting of
Shareholders stipulated the first dividend payout, at
30% of WIKA’s net income in fiscal year 2007 or equal
to USD2.86 million.
• On the second year after going public, WIKA’s
dividend payment was based on the stipulation of
Annual General Meeting of Shareholders on 28 May
2009, at 30% of WIKA ‘s net income in fiscal year 2008
of USD3.73 million.
• On the third year, WIKA paid dividend based on
the stipulation of Annual General Meeting of
Shareholders on 29 April 2010, at 30% of WIKA‘s Net
Income in fiscal year 2009 or USD4.66 million.
• During the fourth year of going public, based on
the stipulation of Annual General Meeting of
Shareholders on 12 May 2011, WIKA increased its
Dividend Payout ratio to 35% of WIKA’s net income
in fiscal year 2010 in the amount of USD8.18 million.
• During the fifth year of going public, based on
the stipulation of Annual General Meeting of
Shareholders on 1 May 2012, WIKA increased its
Dividend Payout ratio to 35% of WIKA’s net income
in fiscal year 2010 in the amount of USD8.73 million.
• During the sixth year of going public, based on
the stipulation of Annual General Meeting of
Shareholders on 25 April 2013, WIKA set its Dividend
Payout ratio to 30% of WIKA’s net income in fiscal
year 2010 in the amount of USD11.27 million.
• Entering the seventh year since WIKA became
a public company, based on the decisions of the
General Meeting Shareholders in March 27, 2014,
WIKA maintained its dividend payout ratio to 30% of
WIKA’s net profit of fiscal year 2013 which amounted
to USD13.95 million.
Head Office
Jl. D.I. Panjaitan Kav. 9Jakarta 13340, IndonesiaP. +62 21 819 2808 +62 21 850 8640 +62 21 850 8650F. +62 21 819 1235E. [email protected]. www.wika.co.id