WIKA Hopes for Stock Suspension Lift in Second Half After Bond Default

PT Wijaya Karya (Persero) Tbk targets the reopening of its stock suspension in the second half of 2026 after trading was halted due to a failure to pay bonds and sukuk. WIKA’s President Director, Agung Budi Waskito, explained that the suspension occurred in February 2025 as the company was unable to meet its payment obligations. “We all know that in February 2025 we were suspended because we failed to meet our bond and sukuk obligations,” he said after a media visit to the HBR II Toll Road in Jakarta on Monday (6/4/2026). He stated that throughout 2025, it was a particularly challenging period for the company, so the main focus was directed towards maintaining operations. Following that, the company began the financial restructuring process. “Hopefully, the restructuring will be completed in the first half of this year, so in the second half we can start focusing on paying obligations in accordance with the agreement results,” he said. With these steps, the company targets the lifting of the stock suspension in the latter half of this year. Agung added that amid financial pressures, WIKA remains capable of executing strategic projects, including the construction of the Harbour Toll Road (HBR) Ancol Timur-Pluit II, which he said continues without significant construction obstacles. He also mentioned that project delays are more due to land acquisition factors rather than the company’s capabilities. Additionally, various government assignments continue to be carried out, which he believes demonstrates that the company’s operational cash flow is still maintained. With the completion of restructuring and improvements in operational performance, WIKA hopes the process of reopening the stock suspension can be realised soon in line with the target for the second half of 2026.