Waskita Karya Has Repaid Bonds Due 2021

Waskita Karya Building. (Photo: Doc. Waskita Karya)

JAKARTA - PT Waskita Karya (Persero) Tbk has succeeded in paying off the principal and interest on the maturing bonds this year. The value of bonds and interest paid is Rp. 1.70 trillion.

Waskita Karya President Director Destiawan Soewardjono said the bonds, which matured on September 28, consisted of Shelf-Registered Bonds II Phase II 2016 with a principal of IDR 900.00 billion and interest of IDR 19.12 billion and Shelf-Registered Bonds III Phase III 2018 series A with a principal of IDR 761.00 billion. and interest of Rp22.95 billion.

"This bond payment is a form of the company's commitment in carrying out its obligations to bond investors and is part of Waskita's 8 Stream Financial Restructuring strategy in terms of restructuring," he said in a written statement, quoted Friday, October 1.

He said the source of the funds for the repayment of the bonds came from the new issuance of the 2021 Waskita Karya Bond III which was intended for the refinancing process and additional working capital for the company.

Furthermore, said Destiawan, the issuance of the new bonds also received full guarantees from the government. The Company managed to receive funds amounting to Rp1.77 trillion through the issuance of the new bonds.

"In the future, the company will continue to focus on implementing this strategy in order to ensure the company's going concern," he said.

Destiawan claims that the positive impact of the implementation of Waskita's 8 streams of financial restructuring has also begun to be reflected in the company's consolidated performance in the first semester of 2021. Based on audited financial reports as of June 30, 2021, the company was able to record a net profit of Rp.291.99 billion in the second quarter of this year or an increase. compared to the performance in the first quarter of the year which was a net loss of Rp136.93 billion.

In total, the company posted a net profit of IDR 155.06 billion for the first semester of 2021 or grew by 111.73 percent yoy compared to the same period last year.

"Furthermore, the company plans to issue bonds with government guarantees in 2022 with the aim of refinancing and increasing the company's working capital," he explained.