Flooring Guide by Cinvex – , JAKARTA – PT Wijaya Karya (Persero) Tbk. (WIKA), Indonesia’s prominent state-owned construction issuer, has set an ambitious target: to resume trading of its shares on the Indonesia Stock Exchange (IDX) in the second half of this year.
According to WIKA President Director, Agung Budi Waskito, the pivotal step toward achieving this goal is the successful completion of the company’s comprehensive financial restructuring process, which is currently underway.
The company is in the final stages of negotiating its debt restructuring, encompassing obligations to banks as well as outstanding bonds and sukuk. This crucial restructuring process is anticipated to be finalized by mid-year, paving the way for future stability.
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“Ideally, with the completion of our banking, bond, and sukuk restructuring in the first half of this year, we will be able to fully concentrate on fulfilling our obligations in accordance with the agreement during the second half. Our target is to have the suspension lifted in the second half of 2026,” Agung stated in North Jakarta on Monday (6/4/2026).
It is important to note that the Indonesia Stock Exchange (IDX) imposed a temporary suspension on WIKA‘s share trading in February 2025.
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This action was taken by the authorities following the company’s failure to meet its principal and interest payment obligations on both bonds and sukuk.
Agung revealed that WIKA navigated a particularly challenging financial landscape throughout 2025. In response to these difficulties, management made a strategic decision to prioritize the allocation of funds for project operations, a move essential for maintaining the trust of its clients and ensuring business continuity.
“The year 2025 was quite demanding for WIKA. Consequently, we prioritized operational continuity. Following that, we initiated our restructuring efforts. Our free cash capability has actually improved significantly since then,” he elaborated.
As of February 2026, WIKA is actively managing 85 ongoing projects, with a substantial total contract value of Rp31.35 trillion. These projects are strategically positioned to generate robust cash inflows, which will be vital in supporting the company’s debt payment commitments post-restructuring.
Meanwhile, throughout 2025, WIKA successfully secured new contracts totaling Rp17.46 trillion, bringing its cumulative ongoing contract value to an impressive Rp50.52 trillion.
Building on these achievements, the state-owned enterprise reported total sales of Rp20.45 trillion. This figure comprises Rp13.33 trillion from non-Joint Operation (KSO) sales and Rp7.12 trillion from KSO sales.
Wijaya Karya (Persero) Tbk. – TradingView
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