JAKARTA -- The recent suspension of trading in the shares of a state-owned construction company is reviving concerns over the financial woes of big Indonesian state builders, with more of their debts potentially going unpaid as the government plans to drastically cut infrastructure spending.
Seven Indonesian state builders have combined liabilities of around 258 trillion rupiah ($15.7 billion), according to figures presented at a hearing with lawmakers earlier this month. That is more than six times as much as 10 years ago, as the companies took on much of the financial burden of former President Joko "Jokowi" Widodo's aggressive infrastructure push.
