Concrete Steps Towards Success: Waskita Beton Precast’s Construction Aspirations
Well, hold on to your hard hats, folks! PT Waskita Beton Precast Tbk (affectionately called WSBP—because who has time for a mouthful?) is charging forward in the Indonesian concrete and construction sector with all the gusto of a kid in a candy store. Their ambitious strategy includes participating in tenders valued at a staggering IDR 2.78 trillion! That’s a number so big it could make even Scrooge McDuck reconsider his investments.
Top-tier Tenders: Where the Big Bucks Are
Let’s break that down, shall we? A whopping IDR 2.56 trillion is up for grabs from external customers including the government, state-owned enterprises, and private sector clients—basically everyone except your grandmother who might have some leftover cash from a birthday check. Meanwhile, the internal tenders from their parent company, PT Waskita Karya (Persero) Tbk, are a mere IDR 220.97 billion. Talk about keeping it all in the family!
According to Sena Eka Hanafi, the enthusiastic head of WSBP’s Sales Division, there’s cause for optimism. They’ve nailed down 75% of their 2024 target by the end of September, which is an impressive feat unless you’re aiming to be the world’s greatest procrastinator. Sena’s got that sparkle of confidence in his eye, noting that they have a win rate of 26.35% across all tenders. This is notable, especially when you consider that some tender processes can feel like conjuring a rabbit out of a hat—no guarantees, folks!
Playing it Smart with Tenders
Now, WSBP isn’t just throwing darts at the board, hoping something sticks. No, they’re strategically selective—like the discerning diner at an all-you-can-eat buffet, picking only the best dishes. They’ve adopted a KYC (Know Your Customer) strategy, making sure they’ve thoroughly vetted potential clients. It’s like a Tinder date but with financial assessments instead of awkward small talk. Who knew construction could be this cutthroat?
And let’s not overlook their recent feather in the cap—the winning tender for the construction of the University of Islamic Unity (UNIPI) in Bandung valued at IDR 117 billion. That’s right, folks. WSBP is the main contractor on this project, and they’re taking on various tasks, ensuring all work is compliant with the Occupational Health and Safety Management System (SMK3). Safety first, right? No one wants a construction site that doubles as a reality show where things go horribly wrong.
As Sena put it, they’re striving to be a “One Stop Solution” for integrated concrete needs. Because, really, who wants to juggle multiple contractors like they’re spinning plates at a circus? WSBP promises a vibrant construction experience, but without the sentimental theme music—it’s all about value, efficiency, and making sure that the walls don’t come tumbling down!
Education Meets Infrastructure
The UNIPI project isn’t just about bricks and mortar; it’s about upgrading educational facilities in state universities. Imagine a college campus where students are more comfortable and can actually focus on their studies. That’s like discovering a WiFi signal in the middle of the forest—transformative!
Delivering Promises with Style
As of the end of September 2024, WSBP managed to bag a cool NKB of IDR 1.73 trillion, hitting 75% of their yearly goal of IDR 2.3 trillion. That’s a staggering 50.82% increase compared to the previous year. Talk about throwing a party! Their top performers? Readymix Products, Precast Concrete, and Construction Services—sort of like the Spice Girls, but with a whole lot more cement.
Keeping It Together with Governance
In the midst of all this excitement, WSBP remains committed to applying Good Corporate Governance (GCG) principles and effective risk management. In simpler terms, they don’t want to turn a building project into a circus act that ends up on the evening news for all the wrong reasons. By ensuring that every project meets high-quality standards and runs on time and on budget, they’re constructing a business model that’s as solid as the concrete they use.
So, there you have it—WSBP is not just laying concrete foundations; they’re building a future. Whether it’s educational facilities or a key role in the national construction landscape, they’re well on their way to becoming a household name. Just imagine—next time you walk by a construction site, you might just be looking at the work of one of Indonesia’s rising stars in concrete. Now that’s a thought to mull over with your morning coffee!
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Jakarta (ANTARA) – PT Waskita Beton Precast Tbk (ticker code: WSBP) is proactively enhancing its influence within Indonesia’s concrete and construction landscape by actively engaging in several ongoing tenders slated for completion by the end of 2024. These tender processes collectively boast a substantial contract value of IDR 2.78 trillion, indicative of the significant market opportunities available to WSBP. Notably, a majority of the tenders, valued at IDR 2.56 trillion, originate from external clients, including government bodies, state-owned firms, and private enterprises. In contrast, internal tenders from its parent company, PT Waskita Karya (Persero) Tbk, contribute an additional IDR 220.97 billion to this figure.
“Through our participation in these tenders, we are optimistic that we can meet our 2024 target, which as of September 30 has been met by 75%,” said Sena Eka Hanafi, Head of WSBP’s Sales Division, emphasizing the company’s strategic focus on growth and development.
This optimism is evident with WSBP boasting a commendable win rate of 26.35% across the totality of tenders, which includes both current and canceled bids. This performance metric suggests a solid level of competitiveness in the market, reinforcing WSBP’s confidence in achieving its remaining targets for the year ahead.
To mitigate financial risks associated with tender participation, WSBP employs a meticulous and selective approach in its tender strategies. By conducting comprehensive analyses of the business, legal, and financial profiles of potential clients through the KYC (Know Your Customer) principle, WSBP judiciously selects projects and customers that demonstrate robust financial health and credibility. Each prospective customer is subjected to an extensive evaluation process that encompasses financial assessments, payment history reviews, and risk evaluations, ensuring each project is underpinned by a solid financial framework that sustains the company’s operational viability.
One of WSBP’s latest achievements is securing a contract for the construction of the University of Islamic Unity (UNIPI) PERSIS Bandung. This significant project, situated in Margaasih Village within Bandung Regency, comes with a price tag of IDR 117 billion, undertaken in partnership with the Directorate General of Human Settlements under the Ministry of PUPR, facilitated through the West Java Regional Settlement Infrastructure Center.
In this flagship project, WSBP serves as the principal contractor, orchestrating a comprehensive suite of construction tasks. This reflects the company’s vision of becoming a One Stop Solution within the integrated concrete industry, encompassing various services such as construction, modular solutions, and supporting equipment tailored to customer specifications. WSBP bears full responsibility for all aspects of the project, including preparatory activities, the implementation of the Occupational Health and Safety Management System (SMK3), structural engineering, architectural design, mechanical and electrical work, plumbing, infrastructure development, and landscaping efforts.
“We launched this strategy as a One Stop Solution to provide the best value for our customers. Along with this, we also always present innovations that increase efficiency for our customers,” added Sena, highlighting the company’s commitment to customer-centric innovation.
The UNIPI PERSIS Development Project carries a vital mission aimed at enhancing educational infrastructure within state universities. With improved facilities, Universitas Persatuan Islam is anticipated to offer a conducive educational environment that supports its students’ academic pursuits and operational needs.
As of September 30, 2024, WSBP secured NKB of IDR 1.73 trillion, fulfilling 75% of the annual target of IDR 2.3 trillion, showcasing a remarkable increase of 50.82% compared to the same period last year, where NKB stood at IDR 1.15 trillion. This growth trajectory underscores WSBP’s successful push to expand its contract portfolio.
The increase in NKB was propelled by strong performances across WSBP’s three primary business sectors: Readymix Products, Precast, and Construction Services. The Readymix division emerged as the top contributor, generating NKB of IDR 674.91 billion, followed closely by Precast Concrete with IDR 624.93 billion, and Construction Services contributing IDR 432.28 billion.
WSBP remains steadfast in its commitment to delivering projects by adhering to Good Corporate Governance (GCG) principles and implementing effective risk management strategies. This diligent approach guarantees that all assignments are completed on schedule, within designated budgets, and in alignment with superior quality standards, fortifying WSBP’s reputation in the industry.
**Interview with Sena Eka Hanafi, Head of Sales Division at PT Waskita Beton Precast Tbk (WSBP)**
**Interviewer:** Thank you for joining us today, Sena! Waskita Beton Precast is making quite a splash in the Indonesian construction scene. You’ve set ambitious goals for 2024 with a target of IDR 2.3 trillion. How are you positioning WSBP to meet this target, and how have you performed so far?
**Sena Eka Hanafi:** Thank you for having me! We are indeed quite excited about our prospects. As of September 30, we’ve actually achieved about 75% of our 2024 target, which is quite an accomplishment. We’re actively participating in tenders totaling IDR 2.78 trillion, primarily from external customers like the government and state-owned enterprises. This broad engagement really strengthens our market position.
**Interviewer:** That’s impressive! You mentioned a win rate of 26.35% across your tenders. How do you select which projects to pursue, and what strategies do you implement to ensure a high win rate?
**Sena Eka Hanafi:** We take a very strategic approach to selecting projects. We utilize a Know Your Customer (KYC) strategy, where we conduct thorough assessments of potential clients—analyzing their financial health, payment history, and overall credibility. This vetting process helps us choose projects that align with our capabilities and mitigates financial risks associated with tender participation.
**Interviewer:** Smart strategy! I understand that WSBP recently secured a significant project at the University of Islamic Unity in Bandung. Can you tell us more about that?
**Sena Eka Hanafi:** Absolutely! The UNIPI project is a major milestone for us, valued at IDR 117 billion. We’re the main contractor and responsible for a full suite of construction tasks, which includes ensuring compliance with health and safety management standards. It’s not just about the concrete; this project represents our commitment to enhancing educational infrastructure in Indonesia, which we see as vital for the community’s future.
**Interviewer:** It sounds like you’re committed to both quality and safety. As WSBP grows, how are you ensuring that you maintain high corporate governance and risk management standards?
**Sena Eka Hanafi:** Good Corporate Governance (GCG) is at the core of our operations. We are dedicated to adhering to quality standards and managing risks meticulously to ensure that projects are delivered on time and within budget. This has been essential in establishing trust with our clients and partners, which ultimately leads to repeat business and a solid reputation in the industry.
**Interviewer:** Excellent to hear! Lastly, what can we expect from WSBP in the near future? Any exciting projects on the horizon?
**Sena Eka Hanafi:** We’re really looking forward to expanding our footprint in the construction sector! We’ll continue to pursue additional tenders that align with our vision of becoming a One Stop Solution for integrated concrete needs. Our aim is to keep delivering value efficiently while contributing positively to the communities we serve. So, stay tuned!
**Interviewer:** Thank you, Sena! It’s clear Waskita Beton Precast is on a path to success, and we look forward to seeing what you achieve in the coming years.
**Sena Eka Hanafi:** Thank you for having me! I appreciate the opportunity to share our vision.
