JAKARTA. PT Waskita Beton Precast Tbk (WSBP) officially makes the first instalment of financial obligations repayment to its creditors on March 27, 2023. The payment was made according to the homologated agreement post Suspension of Debt Payment Obligation (PKPU) that was made official on September 20, 2022.T

he payment is totalled to IDR 75.4 billion, consisting of IDR 34.5 billion to vendors, IDR 37.6 billion to banks with 2% annual interest, and IDR 3.26 billion to bondholders, also with 2% annual interest. "The next round of payment is due September 25, 2023," Asep Mudzakir, Director of Finance and Risk Management of WSBP, further announced in the press release issued today (27/3).

For the record, the controlling shareholder of WSBP is expected to change at the end of Q2 2023, following the debt-to-equity conversion for vendors, as well as the issuance of mandatory convertible bonds for bondholders. Said corporate action is included in WSBP's debt restructuring scheme.

It is worth mentioning that PT Perusahaan Pengelolaan Aset (PPA) has assisted WSBP in its restructuring process. "The support of PPA for WSBP has taken form in its guidance as the lead advisor during the PKPU process," Avianto Istihardjo, Acting President Director of PPA, confirmed. It is said to demonstrate PPA's commitment in optimising state-owned enterprises (SOEs) of Indonesia. (ZH)