WSKT - PT. Waskita Karya (Persero) Tbk

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JAKARTA. PT Waskita Karya (Persero) Tbk (WSKT) is currently facing a Suspension of Debt Payment Obligation (PKPU) lawsuit filed by PT Megah Bangun Baja Semesta (MBBS).

This claim had been submitted to Special Class 1A of Central Jakarta District Court. Then, WSKT has also been subpoenaed to the hearing session in the court under case No.38/Pdt.Sus/PKPU/2023/PN.Niaga.Jkt.Pst, which takes place today, February 21, 2023.

“The PKPU lawsuit is related to the request for the payment of debts worth IDR 2.93 billion worth from PT Megah Bangun Baja Semesta,” Destiawan Soewardjono, President Director of WSKT, mentioned in the information disclosure in Indonesia Stock Exchange (IDX).

For the record, MBBS is one of the vendors for the Minangkabau International Airport Terminal construction project. Said company is also listed as WSKT’s vendor in the Phase I of Depati Amir Airport Terminal project and Waskita Rajawali Tower renovation project.

Soewardjono claimed that the company will continue to be committed to their good corporate governance (GCG) principles in facing this lawsuit. Furthermore, the company will still comply with required legal processes in accordance with the applicable laws.

Based on IDNFinancials record, Pemeringkat Efek Indonesia (Pefindo), a local rating agency, has demoted WSKT’s rating to “idCCC” with the caption of “Credit Watch with Negative Implication.” The rating was lowered based on the company’s performance that is currently at risk for default on its obligations. (KR/ZH)