Waskita to Be Injected US$47.85 M Capital

VIVAnews - PT Waskita Karya will receive additional capital valuing Rp 500 billion (US$47.85 million). The capital, which will be used for restructuring the company, will be disbursed soon.

"So far, the Department of Finance [and the State-owned Enterprises Ministry] have given their approval," said State-Owned Enterprises (SOEs) Ministry Deputy for Services and Other Businesses Muchayat in Jakarta on Monday, May 11.

Waskita Karya President Director M Choliq stated earlier that Waskita requires Rp 400 - 500 billion from the asset management company (PPA) to supply additional capital for the company. However, an approval from Finance Minister is needed.

He added that the management is still discussing the matter with PPA.

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Translated by: Ariyantri E. Tarman