Jakarta. State-owned construction firm PTPP said Tuesday that the company had fulfilled the bond and sukuk mudhrabah obligations on time. 

PTPP announced that it had made the payments for Sustainable Bonds III Phase I 2021 Series A worth Rp 850 billion and Sustainable Sukuk Mudharabah I Phase I Year 2021 Series A worth Rp 400 billion, which would mature on Tuesday. These maturing bonds and sukuk mudharabah were the results of the company’s sustainable public offering in 2021 with a tenor of 3 years and a coupon or profit sharing of 8.5 percent per year.

PTPP President Director Novel Arsyad said the fulfillment marked the company’s commitment as a public company that always prioritizes and applies the principles of good corporate governance and can fulfill the company's obligations.

"Thank God, we have transferred funds to the Indonesian Securities Central Custodian or KSEI’s accounts as repayment of sukuk mudhrabah and bonds,” Novel was quoted as saying in a press statement.

“This step shows our commitment to maintaining the company's financial stability and"efforts to restore the level of investor confidence in the state-owned construction firm,” Novel said.