JAKARTA – PT Totalindo Eka Persada Tbk (TOPS) has entered its Temporary Suspension of Debt Payment Obligation (lit. Penundaan Kewajiban Pembayaran Utang Sementara/PKPUS) status since yesterday (17/1) until the next 45 days.

Salomo Sihombing, Vice President Director of Totalindo Eka Persada, claimed that this legal decision will not significantly affect the operational activities of the company. “During this status, we will ensure that the operations remain active, including existing projects handled by the company,” he said, as quoted Thursday (19/1).

The temporary PKPU status was read by the Panel of Judges of the Commercial Court of the Central Jakarta District Court as a conclusion to five series of hearings held since December 14, 2022. The Commercial Court decided to grant the petition of PT Solefound Sakti regarding the debt payment worth IDR 4.44 billion for the bored pile project of TOPS.

TOPS was reportedly subpoenaed by the Central Jakarta District Court on December 8, 2022. The case was registered under No. 354/Pdt.Sus PKPU/2022/PN Niaga Jkt Pst.

Sihombing said that the company managed to secure new contracts throughout 2022 worth IDR 1.3 trillion, shifting 342.75% from 2021. Until now, TOPS manages 24 existing projects, and the total value of carry-over contracts reach IDR 1.2 trillion this year. “The current situation could be throroughly resolved, seeing how the company performs,” he confidently added. (LK/ZH)