Waskita Karya's Q1 2023 Jumbo Debt Details to State-Owned Banks

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Erlina Fury Santika 15/06/2023 14:32 WIB

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Waskita Karya's finances are in disarray. This state-owned enterprise has recorded significant debt with state-owned banks. Here's a breakdown.

Waskita Karya's Long-Term Bank Debt Following Parent Company and Working Capital Syndication Restructuring (March 2023)

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Waskita Karya's Q1 2023 Jumbo Debt Details to State-Owned Banks

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Waskita Karya's Long-Term Bank Debt Following Parent Company and Working Capital Syndication Restructuring (March 2023)

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PT Waskita Karya (Persero) Tbk. is burdened by a mounting debt.

The company's financial reports (WSKT code) show liabilities or debts totaling Rp84.37 trillion in Q1 2023. This debt is extremely high, equivalent to 86% of its total assets of Rp98.22 trillion. Equity or capital stands at only Rp13.84 trillion.

This debt comprises various components, a significant portion being long-term bank loans. Debt from the parent company consists of two parts: debt based on the parent company's restructuring agreement and working capital syndication.

In both parts, Waskita Karya owes money to state-owned enterprises (SOEs) banks.

For the parent company restructuring agreement, Bank Negara Indonesia (BNI) is the largest creditor, providing a loan of Rp7.51 trillion up to Q1 2023.

Second is Bank Mandiri, with a loan of Rp4.55 trillion. Third is Bank Rakyat Indonesia (BRI) with Rp2.64 trillion. Fourth is Bank Syariah Indonesia (BSI) with Rp2.03 trillion.

(See also: [link to article about director being charged with corruption])

For working capital syndication, Bank Mandiri is again the largest lender, with Rp3.39 trillion.

Second is BRI with Rp1.19 trillion. Third is BNI with Rp312.86 billion.

Note that the data provided only includes debt from the parent company, excluding subsidiaries and third parties. Besides SOE banks, Waskita Karya also borrows from private and regional banks.

Overall, bank debt reaches Rp46.53 trillion. In other words, bank debt constitutes half of Waskita Karya's total liabilities in Q1 2023.

Here's a breakdown of Waskita Karya's long-term related-party bank debt based on the parent company's restructuring agreement and working capital syndication in Q1 2023:

* Parent Company Restructuring:
* BNI: Rp7,511,132,981,437
* Mandiri: Rp4,555,150,692,047
* BRI: Rp2,644,625,779,145
* BSI: Rp2,035,702,565,303

* Working Capital Syndication:
* Mandiri: Rp3,394,448,115,562
* BRI: Rp1,191,071,578,925
* BNI: Rp312,864,920,200

(See also: [link to article about Waskita Karya's assets and capital over the past four years])

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Waskita Karya's Q1 2023 Jumbo Debt Details to State-Owned Banks

Waskita Karya's Q1 2023 Jumbo Debt Details to State-Owned Banks

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Waskita Karya's Q1 2023 Jumbo Debt Details to State-Owned Banks

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