JAKARTA –Indonesia Stock Exchange (IDX) temporarily suspended the trading of PT Wijaya Karya (Persero) Tbk (WIKA) shares during the first session on Tuesday (18/2). This decision was made after WIKA failed to repay two debt instruments that matured on Monday (17/2).

According to the Indonesian Central Securities Depository (KSEI), WIKA has not deposited the principal repayment funds into the custodian account as per the agreed schedule.

"We hereby inform you that the repayment of the principal to bond and sukuk holders via the account holders has been delayed, which was supposed to take place on February 18, 2025," KSEI stated in its official announcement on Monday (17/2).

IDX mentioned that the suspension decision was taken to maintain market stability and protect investors from potential volatility due to WIKA’s financial uncertainty.

At the close of Monday’s (17/2) trading session, WIKA’s stock price had increased by 3.55% to IDR 204 per share. The stock price of this Indonesian state-owned construction company had also shown an 11.48% increase in the past week.

However, the positive trend reversed after WIKA announced its inability to settle two debt instruments: the Shelf-Registration Bond II WIKA Phase II 2022 Series A (WIKA02ACN2) and the Shelf-Registration Sukuk Mudharabah II WIKA Phase II 2022 Series A (SMWIKA02ACN2).

As of now, there has been no further official statement from WIKA regarding its plan to resolve these debt obligations. (DK/KR/ZH)