“PT Waskita Karya Postpones Bond Interest Payment due to Restructuring”

Jakarta –

PT Waskita Karya (Persero) Tbk postponed payment of bond interest. This caused the company’s stock trading to be temporarily suspended by the Indonesia Stock Exchange (IDX).

The Special Staff of the Minister of BUMN, Arya Sinulingga, explained that the restructuring was being carried out by Waskita Karya. As a result, equal treatment (equal treatment) to lenders is carried out.

“We are restructuring Waskita. So we are doing the same for everyone, both those who have bonds and those who have debt, for example banking and so on,” said Arya at the Ministry of BUMN, Jakarta, Monday (8/5/2023).

The restructuring was carried out because initially Waskita was aggressive in running its business. However, the COVID-19 pandemic came and prevented its business targets from being achieved.

“They were too aggressive at first, then didn’t expect that Corona would happen, after that it turned out that their targets, the toll roads they own could be sold, so that returns to their targets were not achieved. That’s why we are doing what is called restructuring of Waskita,” he explained.

Arya then added that in this equal treatment, parties who provide loans to Waskita will be treated the same. He said, if the restructuring was carried out on bank loans, loans from other parties would also be restructured.

“So like this, Waskita has debts from various parties, including bonds including in banking as well. If the banking is restructured, they also ask for the same treatment for others. Don’t just restructure them. So they ask for all to be treated the same,” he explained .

(acd/hns)