JAKARTA, Feb 16 (Reuters) - The Indonesia Stock Exchange
(IDX) said on Thursday it had suspended trading in the shares
and bonds of state-controlled construction company, Waskita
Karya , due to a delay in coupon payments.
IDX said in a statement the decision was taken due to a
delay in the coupon payment for Waskita Karya's bonds maturing
in 2024.
The company in a statement said the delay was due to a
comprehensive review taking place because of its ongoing
restructuring programme.
"During this review process, the company will propose a
standstill to lenders and bondholders as a form of equal
treatment on our working capital loans and bonds," Ermy Puspa
Yunita, Waskita's corporate secretary said in a statement.
Indonesia's largest construction company is holding a
meeting of bondholders on Thursday and Friday.
Waskita hopes the suspension will be lifted after they
secure a standstill agreement from bondholders.
(Reporting by Fransiska Nangoy, Stefanno Sulaiman, Gayatri
Suroyo
Editing by Ed Davies)
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