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News Updates 25 October 2021
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WIKA Gets Loans from SMI Rp 700 Billion

PT Wijaya Karya Tbk (WIKA) obtained a working capital financing loan facility and guarantees in the form of bills or receivables (remaining terms) for projects to be financed by PT Sarana Multi Infrastruktur (SMI). The Corporate Secretary of PT Wijaya Karya Tbk, Mahendra Wijaya in a press release in Jakarta yesterday, revealed that the maximum value of the facilities provided is Rp 700 billion with a guarantee value of Rp 1.6 trillion.

According to him, the transaction is a loan transaction and the provision of guarantees received directly from an infrastructure financing company so that it is sufficient to report this transaction as stipulated in Article 6 of POJK 42/2020.

"The consideration for this transaction is for working capital financing purposes in order to carry out or complete the construction or work of several company infrastructure projects," said Mahendra.

In this transaction involving WIICA and PT SMI, there is an affiliation relationship because both are BUMN whose share ownership is majority owned by the Government of the Republic of Indonesia. This affiliate transaction was carried out on October 18, 2021. Thus, between the Company and SMI has an affiliated relationship because it is directly controlled by the same Main Business Holder, namely the Government of the Republic of Indonesia.

As is known, PT Wijaya Karya is a company with a government share ownership of 65.05%. Meanwhile, the government's share ownership in PT SMI is 100%.

 

Source: Ekonomi Neraca, October 25, 2021

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