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Waskita Karya Announces Leadership Changes at EGMS
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Jakarta – PT Waskita Karya (Persero) Tbk (WSKT) has appointed Sutrisno as President Commissioner and Paulus Budi Kartiko as Director of Operations II, following an Unusual General Meeting of Shareholders (EGMS) held on December 23, 2025.
Key Leadership Appointments
Teh EGMS saw significant changes at the top of Waskita Karya. Sutrisno replaces Heru Winarko as President Commissioner, while Paulus Budi Kartiko takes over from Dhatik Ariyanto as director of Operations II. These appointments signal a strategic shift aimed at bolstering the company’s transformation and leadership.
Strategic Rationale for the Changes
Waskita Karya’s Corporate Secretary, Ermy Puspa Yunita, emphasized that the management changes are integral to the company’s broader strategy. The goal is to ensure the organization remains adaptable to evolving industry dynamics and future challenges, aligning with national economic advancement policies. This proactive approach reflects a commitment to long-term sustainability and growth.
“The company believes that the right management composition will provide added value to Waskita’s business strategy,” Yunita stated in a written release. This suggests a focus on leveraging the expertise of the new leadership team to drive innovation and improve operational efficiency.
Amendments to the Articles of Association and RKAP Approval
Beyond the personnel changes,the EGMS also approved revisions to Waskita Karya’s Articles of Association. Crucially,the meeting granted the authority to approve the Company’s Work Plan and Budget (RKAP) for 2026. This delegation of authority streamlines the decision-making process and allows for quicker responses to market opportunities.
The RKAP is a critical document outlining Waskita Karya’s strategic objectives, financial projections, and operational plans for the upcoming year. Its approval signifies shareholder confidence in the company’s direction and its ability to deliver on its commitments.
Waskita Karya’s Recent Performance & Challenges
Waskita Karya, a state-owned construction company, has faced significant financial challenges in recent years, including substantial debt and project delays. As of Q3 2025, the company reported a net loss of IDR 1.4 trillion (approximately $90 million USD), primarily due to rising material costs and project completion issues. The company is currently undergoing a restructuring plan to improve its financial health and operational efficiency.
| Financial Metric | Q3 2025 | Q3 2024 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Loss | IDR 1.4 Trillion | IDR 800 Billion | ||||||||||||||||
| Revenue | IDR 25 Trillion | IDR 28 Trillion | ||||||||||||||||
| Total Debt | IDR 55 Trillion | IDR 50 Trillion |
| Metric | 2019 | 2024 (Estimate) | Change |
|---|---|---|---|
| Active Senior Population (55+) | 3.93 million | 5.01 million | +27.4% |
| Senior Activity Rate | 46.7% | 52.4% | +5.7% |
| Average Pre-Retirement Age | 56 years | 57 years | +1 year |
The Paradox of Early Exit and the Cost of Lost expertise
The early departure of experienced workers represents a significant loss of human capital, a luxury Spain can ill afford. This is especially critical given the increasing pressure on the Spanish pension system and the need to maintain international competitiveness. Recent layoffs at Telefónica, despite the wealth of experience within the company, exemplify this problematic trend.
Consider the broader economic implications.A 2023 report by the International Monetary Fund highlights that countries with aging populations face potential productivity slowdowns unless they actively address workforce participation and skills growth. spain’s current trajectory risks exacerbating this issue.
Beyond Demographics: The Value of Senior Talent
It’s crucial to recognize that “senior talent” is not a monolithic group. This population encompasses diverse professional backgrounds, varying levels of education, and a wide range of expectations. Effective
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Indonesia Plans to Reduce State-Owned Enterprises (BUMN) to 250
The Anagata Nusantara Power Investment Management Agency (BPI Danantara) has announced plans to significantly reduce the number of State-Owned Enterprises (BUMN) and their subsidiaries. The current total of 1,067 companies will be streamlined to around 250.
Bhimo aryanto, Senior Director of Business Performance & Assets Optimization at Danantara, stated that approximately 52% of all BUMNs and their subsidiaries are currently operating at a loss. This highlights the need for improved operational efficiency and sustainability across the sector.
“Of the 1,067 BUMNs, exactly 52% exhibit negative value creation. Their bottom line is negative, and their net income is negative.This indicates substantial work remains to ensure the long-term sustainability of these businesses, especially from a profitability perspective,” Bhimo explained at the Public & Business Leader Forum at the Sari Pacific Hotel Jakarta, Autograph Collection, Central Jakarta, on Saturday, December 13, 2025.
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Reasons for Reducing the Number of BUMN
Improving governance and optimizing the role of BUMN is crucial for supporting the realization of economic growth exceeding 8%. Danantara’s plan to reduce the number of BUMN aligns with this objective.
“We aim to squeeze down from 1,067 to around 250 efficient entities. Importantly
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Türkiye’s Foreign Minister Fidan Outlines Position on Palestine and US Visa Policy
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Background: The UN general Assembly and Palestine
Turkish Foreign Minister Hakan Fidan, during a visit to the Press Federation, articulated Türkiye’s position on critical regional issues, particularly concerning Palestine and the United States’ visa policies. He was greeted by the President of the Federation, Sinan Burhan, and members of the board of directors.
Fidan emphasized the special importance of the United Nations (UN) General Assembly this year, noting that a dedicated conference on Palestine will be held within its framework. This conference is considered crucial for international dialog and potential resolutions regarding the ongoing conflict.
The Importance of the Palestine Conference
The upcoming conference at the UN General Assembly represents a notable opportunity for international leaders to address the complex challenges facing Palestine. It allows for a platform to discuss potential pathways towards a lasting and just peace, and to address the humanitarian crisis in the region.The conference is expected to draw significant attention from global media and policymakers.
Türkiye’s Criticism of US Visa Decision
fidan revealed that Türkiye, along with the Association of Islamic Cooperation and the Arab Union (representing seven countries in a contact group), has voiced criticism regarding the United states’ decision concerning Palestinian President Mahmoud Abbas’s visa status. The core of the concern revolves around whether the US decision serves a constructive purpose or is merely a reactive measure.
Strategic Considerations: Prioritizing US Benefit
Fidan stated, “We prioritize the strategic benefit of the US not to give a visa to Abbas.” This statement suggests that Türkiye believes the US decision, while potentially controversial, may be motivated by broader strategic calculations.It raises questions about the US’s long-term goals in the region and its approach to the Israeli-Palestinian conflict.
