Bondholders Approve Tenor Extension, Waskita Karya Completes Debt Restructuring
PT Waskita Karya (Persero) Tbk (WSKT) held a General Meeting of Bondholders (RUPO) on Thursday, 3 September 2026. The bondholders approved all restructuring proposals for the 2019 Series III Phase IV Bonds, which include the extension of the maturity period.
Waskita Karya’s Finance Director, Wiwi Suprihatno, stated that with the approval of the RUPO results, the likelihood of lifting the suspension on Waskita’s shares has increased significantly. “The Company remains committed to meeting its obligations in accordance with the regulations,” Wiwi said in a statement on Friday, 4 September 2026.
He noted that the Company will continue to strengthen its financial structure, prioritising transparency and good corporate governance. Previously, Waskita had implemented a Master Restructuring Agreement (MRA) agreed upon by 21 banks.
Since late 2023, the Company has successfully reduced its debt by 20.8 per cent, bringing the total value down to Rp 66.5 trillion from approximately Rp 84 trillion. Wiwi added that Waskita has also successfully reduced past-due vendor debt recorded in 2022 by 97.1 per cent over a period of about four years. The amount dropped from Rp 2.13 trillion to just Rp 48 billion as of the first half of 2026, demonstrating the company’s seriousness in settling obligations to business partners.
“We will remain consistent in fulfilling our remaining obligations. This step is both a responsibility and a way to support the partners who have helped us complete various infrastructure projects,” said Wiwi.
Past-due tax obligations have also been 100 per cent settled. Consequently, as of 2024, Waskita Karya no longer has any past-due tax debts, which has bolstered stakeholder confidence.
In terms of financial performance, Waskita recorded operating revenue of Rp 4.92 trillion in the first half of 2026, a surge of 58.49 per cent year-on-year from Rp 3.1 trillion in the same period of 2025. “The increase in revenue was driven by production from the Sekolah Rakyat (SR) projects and irrigation networks from the Ministry of Public Works (PU). This achievement proves that financial restructuring is progressing alongside improvements in operational performance,” said Wiwi.
Amidst this ongoing performance improvement, Waskita continues to be entrusted with several strategic projects. In addition to SR and irrigation networks, the company is working on dams, hospitals, Jakarta LRT Phase 1B, and the Presidente Nicolau Lobato International Airport in Timor-Leste.