Waskita Karya's Bondholder Meeting Fails to Achieve Quorum

Background and Meeting Details

PT Waskita Karya Tbk (WSKT), a major Indonesian construction company, conducted a General Bondholder Meeting (RUPO) for its Sustainable Bonds III Phase IV issued in 2019 on December 9, 2025. The meeting, which was disclosed through a public information release on December 12, failed to achieve the required quorum.

Key Discussion Points

The RUPO had two main agenda items:

1. Explanation regarding the default on interest payments for periods 15, 17, 18, 19, and 20, as well as the principal payment for the Sustainable Bonds III Phase IV 2019
2. Update on the company's financial condition as of Q3 2025
3. WSKT's proposal regarding the default on principal and interest payments

Implications of Failed Quorum

The failure to achieve quorum at the bondholder meeting creates uncertainty regarding the future restructuring of WSKT's debt obligations. This development may have significant implications for both the company and its bondholders, potentially leading to further negotiations or alternative arrangements.