Shares Of WIKA Digembok IDX, Erick Thohir Calls Part Of Restructuring

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir suspended or temporarily suspended the trading of shares of PT Wijaya Karya (Persero) Tbk or WIKA.

Erick said this stock suspension was part of the restructuring.

"The Wijaya Karya suspension is part of the restructuring, and there is already a plan," said Erick at the Ministry of SOEs, Jakarta, written Tuesday, December 19.

Separately, the Special Staff of the Minister of SOEs Arya Sinulingga said the suspension of WIKA shares occurred because some obligors did not approve the WIKA restructuring scheme.

"There is an obligor who did not follow the agreement with other obligors, so no agreement was reached," said Arya.

Therefore, continued Arya, there needs to be another round of negotiations in determining the WIKA restructuring plan.

"Most of the obligors agree with what is proposed by WIKA, but some disagree. Because they don't agree, we'll wait for the next round," he said.

Previously, it was reported that the Indonesia Stock Exchange (IDX) had temporarily suspended the stock trading suspension of PT Wijaya Karya (Persero) Tbk.

The reason is because the issuer coded WIKA shares has postponed the principal construction of Sukuk Mudhrabah PUB Phase I in 2020 Series A.

Responding to this, WIKA Corporate Secretary Mahendra Vijaya said the Company could understand the temporary suspension of trading of WIKA shares by the IDX on December 18, 2023, as the right of the IDX.

For your information, the sukuk is due on December 18, 2023. However, WIKA still pays the profit sharing (coupon) according to the schedule and the appropriate value of the agreement with the Sukuk holder.

"This temporary suspension is also not permanent and can be reopened if payment has been made or there is a return agreement between the issuers and the holders of the Company's debt securities in the future," he said in an official statement received by VOI, in Jakarta, Monday, December 18.