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Stock Information
WSKT

T he development of business environment and advance technology occuring very rapidly over the past decade and had resulted in tougher business competition. This condition requires a great deal of readiness from a corporation to avoid being swept away as result of the occuring changes. As a dynamic company, Waskita always ready to adapt to its surrounding from time to time. In respond to the occurring changes in today's business world, our commitment, ``Change for the better``, has adhered in the inner self of every human being in Waskita.

We understand that improvement and innovation in every aspect of the company is crucial. Various efforts are currently under implementation for system improvement and competency enhancement, including :

Restructuring is one of the three major phases (Restructuring - Profit making - Privatization) in the strategy for company development. Implementation of Restructuring covers several aspects including Restructuring Organization. The Restructuring Organization has the basis of differentiating the functions of marketing and production, thus each can concentrate more towards their duties and responsibilities. After thre years operation, this new structure has been proven to successfully improve company's performance in terms of sales, profit and market penetration.

In executing the entire company's activities, Waskita always utilizes the standard GCG as the fundamental guidance whice focuses on five (5) principles: transparency, accountability, independency, responsibility and fairness. In 2004. Waskita's Board of Directors have established a comprehensive GCG manual as the guidance for the entire human being in Waskita in performing their daily business activities with integrity that is based on GCG principles. As the consequences of GCG application, an Auditor Committee was formed led by an in independent commissioner. Implementation of GCG always has been the basis in any discussion and decision making process, at all levels of the company.

All KPI related matters identified in the beginning of the year are incorporated in the corporate target which is subject for evaluation at the end of the year. Key Waskita's KPI parameters include: Operational Parameter (weighted at 50%), Financial Parameter (weighted at 35%) and Dynamic Parameter (weighted at 15%). Each parameter has its own value that will be considered appropriately based on their corresponding weight.

The necessity for project activities and company development always serve as the basis for fabrication or programs intended for human resource development. In order to fulfill the requirement for professional human resources, Waskita has impelemented programs such as: recruitment, education & training, professional certification, employee prosperity improvement and development of Management Information System (MIS).

Aside from the achievement of ISO 2001:2000 certfication since 1985, Waskita has successfully acquired another healt and safety certfication (OHSAS 18001) in Juli 20th 2005. This OHSAS certfication not only demanded by the users, but rather serves as a symbol of Waskita's commitment in improving its management system for implementation of health & safety working environment. In 2006, Waskita has achieved another health and safety certfication of ISO 14000:2004.

EFS implementation is an application of Waskita's Electronic Documentation Management Information System that will lead to the paperless system. It is an electronic documentation system which purpose is to secure and maintain company's documents within Waskita server and back-up CD at the Head Office with the use of Local Area Network (LAN) and Wide Area Network (WAN). In addition to security and economical usage of storage area for archive, this electronic documentation system is expected to improve our correspondence system.

The purpose of E-Procurement is to create faster, more efficient, transparant and integrated procurement process in order to reduce operational cost, especially in execution of project. Generally, E-Procurement is expected to generate an added value and improve efficiency to the competitiveness of the company.

In general, construction service is a business that involves high risk. With contract value being settled prior to production process, the company is often faced with uncertainty. Risk management is part of Waskita management system whice designed in order to anticipate and control potential risk. The practice of Risk Management covers all level of the company from Head Office to project, and includes entire company's function such as marketing, budgeting, production, finance and human resources.

EWS is one of the controlling function of Waskita Business Process and part of the integrated system that implements Risk Management. EWS is thoroughly compiled and at the same time carries out the control system established in the company's regulation. It is expected that EWS can provide early detection and identify possible anticipation efforts to any deviation that may occur.

Application of Malcolm Baldrige Criteria for Performance Excellence (Malcolm Baldrige) has taken place to strengthen Waskitacompetitiveness in today's more challenging business environment. Various efforts are in the process through the use of an integrated approach for performance improvement and management. The goal for application of Malcolm Baldrige is to deliver an ever-improving value to customers, improve overall organization effectiveness and capabilities and to create organizational and personal learning.