JAKARTA - PT Waskita Karya Tbk (WSKT) has the potential to be delisted from the Indonesia Stock Exchange (IDX). This was conveyed by the IDX in the announcement No. Peng-00019/BEI.PP3/05-2024.
So, what will happen to one of the issuers in the construction sector in the future?
Economist & Financial Market Specialist Lucky Bayu Purnomo also opened his voice. He considered that the potential for the delisting of shares of PT Waskita Karya Tbk (WSKT) was still too far away. This is because the company's performance shows improvement in its financial condition.
"It is still too early. To achieve the delisting process there are several stages," said Lucky Bayu in a written statement, Thursday, May 8.
Lucky Bayu assessed that there are several stages in the delisting process. In achieving delisting, he said, the company still has space and restructuring that still allows state capital participation (PMN). So, the company will move again.
"So, Waskita's performance in the next two years must be better in increasing investor confidence," he said.
In addition, Lucky Bayu said, reducing WSKT's debt was also a positive step for the company's better performance.
According to Lucky Bayu, WSKT must take on many strategic and effective projects in improving financial performance. So, you can return to the capital market.
He considered that one of the sources of WSKT's income was project work. Mainly, interesting projects to be carried out efficiently and effectively.
"The source of his work power is a project obtained. So, Waskita Karya must innovate and achieve more project contracts," said Lucky Bayu.
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To note, by 2024, WSKT has completed its restructuring by obtaining approval from 22 Master Restructuring Agreement (MRA) bank creditors and 2021 Guarantee Working Capital Loans (KMKP) with an outstanding value of IDR 31.65 trillion. The scheme has been effective since October 17, 2024.
The restructuring carried out on Non-Corruption Bonds worth IDR 3.35 trillion has also received approval for three series of bonds.
Meanwhile, based on the financial statements in 2024, WSKT recorded a total decrease in debt of IDR 14.7 trillion. Then, Waskita's parent performance or on a standalone basis also recorded a profit with a profit running of IDR 4.8 trillion.
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