Waskita Karya Bondholders Agree to Delay Interest Payments

The Indonesia Stock Exchange (IDX) suspended trading of Waskita Karya (WSKT) shares since Thursday, February 16, 2023.

The state-owned construction company was suspended due to its delay in paying the 15th coupon of its Waskita Karya Series III Bond, Phase IV, 2019.

"The Exchange may consider lifting the suspension after the company submits the results of the RUPO (bondholder meeting)," said I Gede Nyoman Yetna, Director of Company Valuation at the IDX, as reported by Antara news agency on Tuesday afternoon, February 21, 2023.

WSKT announced the RUPO results on Tuesday evening, February 21, 2023, in a disclosure on the IDX official website.

The RUPO results stated a change in the payment schedule for the 15th and 16th coupons of the Waskita Karya Series III Bond, Phase IV, 2019, as follows:

* The 15th payment, due on February 16, 2023, will be paid on August 16, 2023.
* The 16th payment, due on May 16, 2023, will be paid on August 16, 2023.

WSKT also stated that the majority of its bondholders agreed to the schedule change, with details as shown in the chart. [Note: Chart not included in this translation]

"The holders of the Waskita Karya Series III Bond, Phase IV, 2019, agree and declare that the condition of the unpaid 15th bond coupon on February 16, 2023, by PT Waskita Karya (Persero) Tbk as the issuer, has been rectified/resolved," stated WSKT management in its disclosure.