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February 19, 2025 | 03:25 pm
TEMPO.CO, Jakarta - The Indonesia Stock Exchange (BEI) has officially suspended trading of PT Wijaya Karya (Persero) Tbk (WIKA) shares starting Tuesday, February 18, 2025. This decision was made following the postponement of the principal payment of Wijaya Karya Sustainable Bonds II Phase II 2022 Series A and Wijaya Karya Sustainable Mudharabah Sukuk II Phase II 2022 Series A, which were due on February 18, 2025.
In the official announcement letter from the BEI, the delay in debt payment indicates problems with the company's business continuity. In order to protect investors and maintain market order, trading of WIKA shares has been suspended until further notice.
"The temporary suspension of the Securities Trading of PT Wijaya Karya (Persero) Tbk (WIKA) across all markets is effective from the Pre-Opening of Securities Trading on February 18, 2025," said Head of Company Assessment Division 2 of the BEI, Adi Pratomo Aryanto, quoted from the letter uploaded in the BEI information disclosure, Wednesday, February 19, 2025.
Based on the letter from PT Wijaya Karya (Persero) Tbk number SE.01.00/A.CORSEC.00069/2025 dated February 14, 2025, the company informed about obstacles in the payment of bonds and sukuk that have matured. This was also confirmed by PT Kustodian Sentral Efek Indonesia (KSEI) in their letter number KSEI-0674/DIR/0225 dated February 17, 2025.
The failed bonds and sukuk payments are:
- Wijaya Karya Sustainable Bonds II Phase II 2022 Series A (WIKA02ACN2)
- Wijaya Karya Sustainable Mudharabah Sukuk II Phase II 2022 Series A (SMWIKA02ACN2)
This failure is considered to trigger concerns about WIKA's financial condition and prompt the BEI to act with the company's share suspension.
With this suspension, investors holding WIKA shares cannot make buy or sell transactions until the exchange lifts the trading freeze. Shareholders now have to wait for further developments from the company regarding the steps to resolve the financial issues.
Meanwhile, the Indonesia Stock Exchange requests all related parties to always pay attention to the information disclosed by PT Wijaya Karya to ensure transparency for investors and stakeholders.
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