Review of Construction State-Owned Enterprises (BUMN) Performance in Indonesia

The state-owned enterprises (BUMN) that are listed on the Indonesia Stock Exchange are four (4), namely:

1. PT Adhi Karya (Persero) Tbk with the code ADHI.

2. PT PP (Persero) Tbk with the code PTPP

3. PT Wijaya Karya (Persero) Tbk with the code WIKA

4. PT Waskita Karya (Persero) Tbk with the code WSKT

At the time this article was written, only WSKT had not yet released its annual report.

The results of the brief review conducted by the author are as follows.

Review of Construction State-Owned Enterprises (BUMN) Performance in Indonesia

According to the author, state-owned construction companies in Indonesia are still performing poorly. This is reflected in their price-to-earnings ratio (PER) which is over 10x.

The ranking of the companies based on the above mentioned review is as follows:

1. PTPP with a final score of 13 points

2. ADHI with a final score of 20 points

3. WIKA with a final score of 25 points

4. WSKT with a final score of 36 points (annual report not yet released at the time of writing)

That concludes the author's brief review.

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