WSKT - PT. Waskita Karya (Persero) Tbk

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JAKARTA. PT Waskita Karya (Persero) Tbk (WSKT), a construction company owned by the Indonesian Government, has provided a capital injection of IDR 178.62 billion for one of its subsidiaries, namely PT Trans Jabar Tol (TJT).

The capital injection was provided by WSKT through PT Waskita Toll Road (WTR), in the context of adding 357,244 new shares which were carried out by TJT. All of these new shares were taken up by WTR, as the holder of 99.99% of TJT's shares.

According to data, currently WSKT controls 92.53% of WTR shares.

After the issuance of the new shares, the number of TJT shares increased to 4.6 million shares with a nominal value of IDR 2.3 trillion. Previously, the number of TJT shares was only 4.25 million shares with a nominal value of IDR 2.12 trillion.

WKST management said that the capital injection was given to meet TJT's funding needs. "With the increase in capital from WTR to TJT, it is hoped that it can maximize its business performance," explained WSKT Management.

For the record, WSKT shares are still in the suspension stage by the Indonesia Stock Exchange (IDX). This sanction was given on May 8 2023, because the company is unable to pay bondholder interest. (KR/LM)