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Wijaya-Karya

WIKA strikes $1.54 billion debt restructuring deal with 11 lenders
Companies 2 years ago

PREMIUM
WIKA strikes $1.54 billion debt restructuring deal with 11 lenders

The struggling state-owned construction firm said in a statement on Wednesday that 11 financial institutions had agreed to the deal, which covered 87.1 percent of its restructured debt.
Wonky WIKA
Editorial 2 years ago

Wonky WIKA

Signs of trouble at WIKA could be observed as early as 2020, when the company saw its net profit plummet by 92 percent to Rp 185 billion.
IDX suspends Wijaya Karya shares for missed principal deadline
Companies 2 years ago

PREMIUM
IDX suspends Wijaya Karya shares for missed principal deadline

The bourse has suspended Wijaya Karya shares after the state-owned construction firm missed a Monday deadline for a sukuk principal repayment, citing cash flow problems.
Govt mulls further Rp 4t injection for debt-laden Wijaya Karya in 2025
Companies 2 years ago

PREMIUM
Govt mulls further Rp 4t injection for debt-laden Wijaya Karya in 2025

State-owned construction firm PT Wijaya Karya (WIKA) is set to recieve Rp 6 trillion in next year's budget, and the government plans to add another Rp 4 trillion in 2025.
Ministry warns construction SOEs not to use state budget to pay off debt
Regulations 2 years ago

PREMIUM
Ministry warns construction SOEs not to use state budget to pay off debt

Multiple ministries have warned construction state-owned enterprises (SOEs) not to pay off their debt using state-budget funds earmarked for government-funded projects.
Govt eyeing limit on state-owned banks’ loans to construction SOEs
Regulations 2 years ago

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Govt eyeing limit on state-owned banks’ loans to construction SOEs

Outstanding loans from state-owned banks to construction SOEs reached Rp 70 trillion (US$4.6 billion) in May, according to government data, but restricting issuance would cause new risks for lenders.
Accounting frauds hit IDX
Editorial 2 years ago

Accounting frauds hit IDX

Credible audited financial reports are key to the integrity of the financial services industry, the first requisite for good corporate governance and the primary guide for investors.
Govt to inject $1.34B to debt-laden infrastructure SOEs, plans transfer of ownership
Regulations 2 years ago

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Govt to inject $1.34B to debt-laden infrastructure SOEs, plans transfer of ownership

The government will inject US$1.34 billion of state capital injection to state-owned construction Hutama Karya (HK) and Wijaya Karya. It also plans to transfer ownership of Waskita Karya to HK.
Govt mulls transferring debt-laden Waskita Karya’s projects to other SOEs
Companies 2 years ago

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Govt mulls transferring debt-laden Waskita Karya’s projects to other SOEs

Another state-owned construction firm PT Wijaya Karya (WIKA) also requested the postponement of its debt repayments, which creditors approved as the company’s position is deemed less critical.
Govt looks to cut down infrastructure SOEs to just four firms
Regulations 2 years ago

PREMIUM
Govt looks to cut down infrastructure SOEs to just four firms

Smaller firms are to be controlled by the National Asset Management Company (PPA) and state-owned holding company Danareksa, while the process for bigger companies is still being studied.
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