Waskita Karya And A Number Of Banks Approve Loan Restructuring

The press conference for the collaboration between Waskita Karya and a number of banks (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Waskita Karya (Persero) Tbk signed a master registration agreement (MRA) change with a number of banks today, Friday, September 6. Through this agreement, Waskita Karya's total loan received relief of Rp. 26.3 trillion.

Minister of State-Owned Enterprises (BUMN) Erick Thohir said the restructuring was actually an effort to improve Waskita's performance.

"I want to thank the bank that supports it, we can see that not only state, private, and even international banks still believe that our performance in KBUMN is better," he said in his remarks at a press conference in Jakarta, Friday, September 6.

On the same occasion, Waskita Karya's President Director, Muhammad Hanugroho, said that the restructuring loan was 100 percent of bank loans.

"Today we signed a total of 100 percent of all those who have signed this MRA. So a total of around Rp. 26.3 trillion we have signed today," continued Hanugroho.

He added that currently there are still 4 series of bonds that are in the process of restructuring with 1 series of which have a value of IDR 1.3 trillion and have not been completed.

On the same occasion, Waskita Karya also succeeded in obtaining approval regarding the Basic Change of the Working Capital Credit Facility Agreement (KMKP) which was carried out by five bank creditors with an outstanding value of IDR 5.2 trillion.

Hanugroho said the company is targeting restructuring to be effective in September 2024. After effective restructuring, it means that the company can gain stronger financial stability.

"We hope that after the signing is carried out, the company can achieve financial stability and can focus on continuing the transformation program. This is in order to realize strong fundamentals and run business in a sustainable manner," he said.

He added that the company's restructuring approval is an important point in accelerating the company's recovery rate. That way, Waskita Karya can focus on completing the projects that are currently being worked on.

Waskita Karya, he explained, is a contractor company that has long contributed significantly to infrastructure development in Indonesia. In the last 10 years, the company has completed the construction of 118 buildings, 47 toll roads, 20 national roads, 16 bridges, 12 dams, 24 other infrastructure Setarta.