Jakarta –
PT Istaka Karya (Persero) had good times before being declared bankrupt. The heyday of this state-owned company took place before the 1997-1998 crisis.
Istaka Karya’s success is reflected in the welfare of its employees. Although not in detail, at that time the salaries of Istaka employees were better than several other SOEs.
“For example, in terms of salary, our salaries are with Nindya Karya’s friends, we are still above it, with Brantas we are still above it,” said Istaka Karya Corporate Secretary, Yudi Kristanto to detikcom, Tuesday (19/7/2022).
ADVERTISEMENT
SCROLL TO RESUME CONTENT
–
Meanwhile, the head of the trade union Istaka Karya Adriansyah received information that Istaka was the most feared BUMN in the road project tender process in its heyday.
“I also heard from Istaka’s friends who have been around for a long time, so our time for the tender process, maybe in the 1990s-2000s, so if there is a road project tender, Istaka is the most feared,” he said.
Yudi admits that Istaka’s business has gone up and down. After the heyday, Istaka’s business collapsed due to the 1997-1998 crisis. Then, in 2000 the company had a chance to rise.
Istaka slumped again in 2006-2007. Then, the peak of the fall of Istaka’s business was in 2012.
“We were sued for the 2012 JAIC bankruptcy, the root of the problem was there. Then we entered the peace proposal, homologation until 2021,” he said.
Eventually, Istaka Karya declared bankrupt. It happened that state-owned companies could not fulfill their obligations.
(acd/dna)
–
