Indonesia Delays Capital Top-Up for Waskita Karya Amid Debt Woes

May 22, 2023, 07.46 PM | Source: Reuters
Indonesia Delays Capital Top-Up for Waskita Karya Amid Debt Woes

ILUSTRASI. Gedung?Waskita Karya (WSKT) di Jakarta.


BUMN - JAKARTA. Indonesia has delayed a plan to inject capital into state-controlled construction firm Waskita Karya until the firm completes debt restructuring, a finance ministry official said on Monday.

The government had initially allocated 3 trillion rupiah ($204.15 million) as capital injection for Waskita.

Read Also: Oil Slips as U.S. Debt Caution Offset Supply Concerns

Waskita's shares have been suspended for a second time this year by Indonesia's stock exchange after it failed to secure bondholders' approval to defer coupon payment.

Rionald Silaban, the ministry's director general of state assets, made the remarks in a press conference

Editor: Yudho Winarto
Latest News