JAKARTA: VI Commission of the House didnt provided its approval for the plan of initial public offering (IPO) of two state-owned construction companies, namely PT Waskita Karya and PT Hutama Karya than will be held by this year.Vice Head of VI Commission of the House Arya Bima confirmed that the IPO plans were rejected following several feedback from the Houses members asking for ministry of State-Owned Enterprises to group all construction companies.Our feedback, all state-owned construction companies should be grouped first whether by applying merger or acquisition. Then, we can already discuss for the IPOs plans of Waskita Karya and Hutama Karya, he said to Bisnis after leading a hearing meeting (RDP) with boards of SOEs Ministry and directors of Karya, yesterday.According to him, Ministry of SOEs until today has controlled numerous construction companies and has similar business in manager field, goods procurement, and construction of housing and infrastructure. The companies are nine companies on construction sector and five companies focusing on consultant services.Besides having similar business, Arya Bima viewed that Waskita Karya and Hutama Karya have not proposed yet officially to the House over their IPOs plan by this year.That is announced openly to the board members, and have already completed [yesterday]. However, there is no official proposal. They must be reported if they execute IPO, he said.Higher incomeRelated to performance, President Director of Waskita Karya M. Choliq expressed its optimism over its net income by this year to be higher from initial projection in a case that IPO can be executed by this year.Based on 2011s company working plan and budget (RKAP), Waskita set net income at IDR201.22 billion or a 69.29% growth from IDR118.86 billion in 2010s projection.The target can be achieved in a case that IPO is not implemented this year. However, the net income will escalate if IPO is conducted, he said. Then, similar statement was also said by President Director of Hutama Karya S. Subagyono.According to him, the company has won a new contract by IDR10.97 trillion in 2011 or a 14.99% soar from IDR9.54 trillion in 2010.Our sale target in 2011 is estimated to IDR7 trillion or doubled growth from IDR3.29 trillion in 2010. Then, we also expect to participate in this years IPO, he said.Eventhough having great performance, Arya Bima revealed that it isnt the Houses consideration to approve the IPOs plans. (t01/wiw)

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