Restructuring remains a viable option to align obligations with\nWSBP\u2019s financial capacity.<\/p>\n
Jakarta (ANTARA) - PT Waskita Beton Precast Tbk (WSBP) has announced\nthat it is undertaking strategic steps to endeavour to meet its\nremaining Cash Flow Available for Debt Services (CFADS) obligations.<\/p>\n
The Head of the Corporate Secretary Division of WSBP, Fandy Dewanto,\nstated in Jakarta on Tuesday that these steps include, firstly, ensuring\nthe production process for ongoing contracts continues to support\nbusiness continuity.<\/p>\n
Secondly, the company is engaging in proactive communication with\ncustomers to ensure cash inflows from accounts receivable. Thirdly, WSBP\nis evaluating options for settling receivables with customers, including\navailable and measurable legal measures for overdue accounts.\nFurthermore, the fourth step involves implementing business expense\nefficiency programmes.<\/p>\n
Fandy ensured that the company continues to take various measures to\nimprove cash flow conditions, enhance operational performance, and\naccelerate receivable collections to support the settlement of\nobligations to creditors.<\/p>\n
\u201cSpecifically for banks and bonds, in accordance with the\nhomologation provisions, WSBP continues to strive to meet obligations to\ncreditors no later than the next 90 (ninety) days,\u201d said Fandy.<\/p>\n
Additionally, he continued, the company is maintaining intensive\ncommunication with creditors and is working towards settling outstanding\nobligations within 90 days as per the homologation provisions. The\ncompany is also actively coordinating with its holding company to\naddress the situation, where the holding company plays a role through\noperational support, new contracts, and the disbursement of\nreceivables.<\/p>\n
\u201cWSBP is currently reviewing the company\u2019s liquidity capacity both\nnow and in the future. Restructuring is an option that can be undertaken\nto adjust obligations to WSBP\u2019s financial capacity,\u201d said Fandy.<\/p>\n
Fandy explained that if the company fails to settle interest payments\nby 25 December 2026, it faces the potential for cancellation requests\nfrom Bondholders or Banking Creditors. \u201cHowever, the company remains\ncommitted to fulfilling obligations under the terms of the Homologation\nAgreement,\u201d Fandy added.<\/p>\n
While remaining subject to the provisions of the Composition\nAgreement and the Bond Trustee Agreement for Waskita Beton Precast I\n& II, the company will endeavour to ensure the availability of CFADS\nfor the payment of Waskita Beton Precast I & II Bond Coupons within\na period of no more than 90 days.<\/p>\n
Currently, the company is in the process of fulfilling production to\nsupply precast concrete and ready-mix products to various projects,\nincluding the Kayu Agung Palembang-Betung Toll Road Project, and the\nBogor Ciawi-Sukabumi Toll Road Project Sections 3A and 3B.<\/p>\n
Other ongoing projects include the Tangguh UCC On Shore Project\nPapua, the National Capital Integrated Coastal Development (NCICD) Phase\nA, and the New Priok Eastern Access (NPEA) project, among others.<\/p>\n
Additionally, the company is completing construction on several\nprojects, such as the development of the Smart System and Integrated\nTechnologies Laboratory (L-SSIT) Building at Udayana University in Bali\nand the Integrated Laboratory Building at Khairun University in\nTernate.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/waskita-beton-takes-strategic-steps-to-meet-remaining-cfads-obligations-1790672483", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }