JAKARTA. PT Waskita Karya Infrastruktur (WKI), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT) which runs the infrastructure business, has signed an Inter Company Transaction (ICT) agreement with PT Waskita Sangir Energi (WSE).

In this agreement, WSE provided a loan facility worth IDR 5 billion to WKI. This facility bears interest of 9.58% per year and has a tenor of 365 calendar days from the effective date, namely March 25 2024.

The agreement is affiliated, because WSE and WKI are owned by the same ultimate controlling entity, namely WSKT.

"The background to WKI's transactions with WSE is to meet WKI's funding needs," wrote WSKT Management, in its official statement.

According to idnfinancials.com data, WSKT is currently receiving sanctions from the Indonesian Stock Exchange (BEI) in the form of a share trading suspension. The suspension takes effect from May 2023.

WSKT has not yet announced its consolidated financial performance for the 2023 financial year. However, as of September 30 2023, the company's total assets were recorded at IDR 96.53 trillion and its total equity was IDR 96.53 trillion. (KR/LM)