The debt due Waskita Karya (WSKT) is Rp. 4.1 trillion. How are you ready?

Reporter: Avanty Nurdiana | Editor: Avanty Nurdiana

KONTAN.CO.ID – JAKARTA. PT Waskita Karya Tbk (WSKT) has debt maturing in the near future. The value of the bonds that will mature is Rp 1.15 trillion. Even this year, WSKT has a maturing debt of Rp. 4.1 trillion.

In the release of PT Pemeringkat Efek Indonesia (Pefindo), the debt securities entitled PUB I 2015 series B bonds PT Waskita Karya Tbk will mature on October 16, 2020. In the same release, Pefindo also believes that Waskita Karya will be able to pay the maturing bonds.

Also Read: PT Waskita Karya Tbk (WSKT) Spurs 1,300 Km Toll Project

“WSKT will use internal cash, part of which comes from the project payment terms, to pay off the maturing bonds,” explained Yogie Surya Perdana and Aryo Perbongso Analis Pefindo in a press release on August 19, 2020.

Pefindo thinks this is because in 2020, this state-owned construction company will receive funds of around Rp. 30 trillion to Rp. 35 trillion from payments for turnkey projects and other construction projects. “As of March 31, 2020, WSKT has a cash balance of Rp 6.1 trillion with debts that mature at Rp 4.1 trillion,” Yogie and Aryo were quoted as saying in a press release.

In addition, Waskita Karya also has around Rp. 7.9 trillion unused credit facilities. “Nearly half of it comes from state-owned banks,” explained Pefindo analysts in a release.

Therefore, Pefindo affirms the idBBB + rating for the WSKT PUB I 2015 Series B bonds. Waskita Karya’s outlook is also negative.

Also Read: Waskita Karya (WSKT) recorded a new contract of IDR 8.13 trillion in the first half of 2020

This company has not released its first semester financial report. Even so, the total value of Waskita Karya’s new contracts in the first semester of 2020 reached IDR 8.13 trillion. Of which around 58% are toll road projects. These projects include the Bogor – Ciawi – Sukabumi toll road packages III and IV with a contract value of Rp. 3.3 trillion and the Pasuruan – Probolinggo section IV toll road with a value of Rp. 1.3 trillion.

This year, WSKT targets a new contract value of Rp 26 trillion. Even though it has only fulfilled 30% of the new contract target, WSKT believes that this target will be achieved by the end of this year.