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View all search resultsWaskita mulls bond issuance for liquidity
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tate-owned construction company Waskita Karya (Waskita) is considering when to issue bonds worth Rp 2 trillion (US$136.6 million), as well as divesting its ownership of toll roads, as the company aims to strengthen its liquidity amid the COVID-19 crisis.
Waskita finance director Taufik Hendra Kusuma claimed on Tuesday that several investors had shown an interest in the bonds. The company is also currently undergoing the issuance process with a rating agency.
However, the construction firm is still waiting for the right time to issue the bonds given the current volatile market situation, he said.
“We found that there is an adequate appetite for our bonds based on discussions with several investor candidates. However, we’re still taking a ‘wait-and-see’ approach for the right market and economic conditions,” he said during a virtual press conference.
In the meantime, the company will rely on the divestment of its ownership of several toll roads to boost its equity, Taufik said.
The company currently owns 16 toll roads in Java and Sumatra, with a total length of 833 kilometers and combined investment value of Rp 155 trillion.
Waskita aims to divest five of its toll roads by the end of the year, including those in Greater Jakarta and the trans-Java network, according to Waskita president director Destiawan Soewardjono.
