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Press Release

PKPU`s Winner, WSBP Enters a New Stage of Performance Recovery

Jakarta, June 2022. After entering the process of Postponing Debt Payment Obligations (PKPU) from the beginning of 2022, based on the results of the trial at the Central Jakarta District Court on Monday, 20 June 2022, PT Waskita Beton Precast Tbk (stock code: WSBP) managed to achieve peace agreement with all creditors through the homologation process.

FX Poerbayu Ratsunu, President Director of WSBP said that this special moment for the company was a motivation and a good foundation for WSBP to grow again. “New Chapter, New Strength. This is the beginning of the restoration of WSBP to become a superior and strong performing company,” he explained. This is the starting mark for a new chapter of WSBP performance restoration.

As is known, the voting/voting process (PKPU) has been since Friday (17/6/2022) where voting will resume on Monday (20/6/2022). Based on today's voting results, 92.8% of concurrent creditors and 80.6% of separatist creditors have supported and voted in favor of the WSBP peace plan voting. The reading of the voting results was carried out at 15.30 WIB by the PKPU WSBP Management Team consisting of Allova Herling Mengko, Daud Napitupulu, and Jesica Novita Puspitaningrum, witnessed by the Supervisory Judge.

The reconciliation proposal that WSBP submitted to creditors was prepared based on financial projections and the company's current condition. Where the content of the peace proposal is the best scheme based on the results of the meeting and input from creditors.

"The creditors support the recovery of the WSBP, where creditors approve the schemes offered by Waskita Beton in the peace plan, including payments through company cash, converting debt into shares, rescheduling into long-term liabilities, and issuing mandatory convertible bonds," he said.

WSBP management expresses its gratitude and appreciation for the prayers and positive support from all creditors, so that WSBP has passed the PKPU process so far and all stages can run conducive and in accordance with applicable regulations. This has become more enthusiasm for WSBP to grow with solid financial fundamentals.

In the future, WSBP Management will carry out an improvement strategy to be able to improve business sustainability so that the company's performance recovery can be realized so that it can carry out all its obligations to creditors. "We are ready to comply with our commitments to creditors, and are ready to contribute more to infrastructure development in Indonesia," said Poerbayu.

WSBP management always upholds Good Corporate Governance. WSBP is always committed to completing all obligations to creditors and will be cooperative and open to all stakeholders to carry out the scheme that has been determined.