JAKARTA – PT Waskita Beton Precast Tbk (WSBP) has auctioned off a number of non-productive assets (asset disposal) to meet its obligations under the peace agreement (homologation) with its creditors.

Fathul Anwar, Director of Finance, Risk Management & Legal at WSBP, stated that the handover process with buyers took place from January 15, 2025, until Tuesday (4/2).

“The equipment asset auction is one of the efforts to implement the peace agreement ratified by the Court on June 22, 2022,” he said on Wednesday (5/2).

With the asset sale valued at IDR 1.85 billion, WSBP hopes to improve its liquidity and support the company's operational activities.

WSBP’s auctioned equipment assets were divided into two packages. For Package A, the items include 1 Batching Plant, 1 Gantry Crane, 2 Generators, 1 Wheel Loader, and 1 Mixer Truck. Meanwhile, Package B consists of 1 Gantry Crane, 2 Generators, 1 Mixer Truck, and 1 Wheel Loader.

According to data from IDNFinancials, WSBP had only IDR 64 billion in cash as of September 30, 2024. This is significantly lower compared to the beginning of the year when the company held IDR 121 billion in cash. (LK/KR/ZH)