Waskita Karya's Shares Are Threatened With Being Expelled From The Stock Exchange, The Ministry Of SOEs Has A Solution?

Illustration (Photo: Doc. Antara)

JAKARTA - Shares of PT Waskita Karya Tbk (WSKT) have the potential to be removed or delisted from PT Bursa Efek Indonesia (IDX).

Regarding this condition, the Ministry of State-Owned Enterprises (BUMN) already has a solution.

The Special Staff (Staffsus) of the Minister of SOEs, Arya Sinulingga, revealed that his party already had a solution to recover Waskita Karya's finances. Thus, the potential for removing the listing of shares from the capital market will not occur.

"There is a solution, just wait, don't worry," Arya told reporters, written Tuesday, November 28.

But unfortunately, Arya was reluctant to reveal what kind of solution was being prepared by the Ministry of SOEs to save Waskita from the threat of delisting.

Furthermore, Arya said Waskita has good assets. However, not all of the construction has been completed. If the project being worked on is completed and sold, Arya is optimistic that it will have a good impact on the company's finances.

"How many toll roads are there, there are so many, he has enough assets. But it's still not finished. If it's finished, it can be executed, for example, it can make them even healthier," said Arya.

For your information, the announcement of the potential delisting of shares of the issuer coded WSKT was conveyed by the Indonesia Stock Exchange on Wednesday, November 22, 2023.

Corporate Secretary of PT Waskita Karya (Persero) Tbk Ermy Puspa Yunita said the announcement of potential delisting is part of the IDX regulation that every issuer who has served a stock suspension for more than 6 months will receive an announcement of the potential delisting.

"Until now, the Company's shares have been serving a stock suspension for 6 months since May 2023 regarding the postponement of interest payments and the principal of several bonds issued by the Company," he said in an official statement, written Friday, November 24.

Ermy explained, based on information provided by the IDX, if the stock suspension lasts at least 24 months from the time of the suspension announcement, there is potential for stock delisting.

"So that the potential for delisting of the company's shares will happen no later than May 2025," he said.

For this reason, continued Ermy, the company is optimistic that it can complete the MRA review and obtain approval from bank creditors and bond holders so that the Company's stock suspension can be reopened at the beginning of next year's first quarter of 2024.