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JAKARTA - The government is discussing the financial settlement process of PT Waskita Karya Tbk.

The issuer with the stock code WSKT has just announced that it cannot pay the 12th interest and the payment of Shelf-Registered Bonds IV Phase I in 2020.

The payment is due on August 6, 2023. The principal amount of Series B debt that was supposed to be paid Waskita reached IDR 135.5 billion, with a fixed interest of 10.75 percent per year.

Minister of State-Owned Enterprises (BUMN), Erick Thohir said, one of the options proposed is total restructuring. This means that this state-owned company will be pushed back into the Suspension of Debt Payment Obligations (PKPU) at the District Court.

Furthermore, Erick admitted that he would meet with the Minister of Finance Sri Mulyani Indrawati to discuss this matter.

"That's what we are currently sitting with the Minister of Finance, what is the process like? Yesterday, one of the options is PKPU or total restructuring, which we encourage," he said when met on the Indonesia Stock Exchange (IDX), Jakarta, Tuesday, August 7.

Even so, Erick admitted that he could not provide certainty whether the settlement of Waskita Karya's debt problem would be brought to PKPU.

"I don't want to answer that first," he explained.

Citing the IDX's public information disclosure, Waskita Karya stated that she could not deposit funds to KSEI as Payment Agent in connection with the payment of the 12th interest and principal repayment of Shelf-Registered Bonds IV Waskita Karya Phase I 2020. This payment falls on August 6, 2023.

On May 5, 2023, the company also announced that it would not pay the 11th PUB IV interest phase I of 2020 and had been declared negligent by the trustee on May 30, 2023.

"For the negligence that was stated by the Trustee on May 30, 2023, the Trustee for his own consideration has the right to summon a further GMS to determine the follow-up to the injury to the Company's promise," said Waskita Karya President Director, Mursyid.


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