JAKARTA - PT PP Presisi Tbk (PPRE) aims to score new contracts’ growth of 20% until the end of this year. In 2023, this issuer collected new contracts of IDR 6.7 trillion, or shifting 28.7% yoy from 2022.

I Gede Upeksa Negara, President Director of PPRE, mentioned that new contracts are projected to be dominated by mining services, considering the huge future potential of mining sector market. “We project new contracts to grow approximately 15% to 20% in 2024,” he said in the press release quoted today (13/3).

In 2023, PPRE’s new contracts came from mining sector, up 11% yoy from 2022. Mining business line is believed to harbour quite a potential, particularly in Weda mine area, Central Halmahera.

As of December 2023, PPRE reported debt-to-equity ratio (DER) of 1.19 from 1.41 in 2022, while its interest-bearing DER shrank to 0.54 from 0.75. This company is said to be able to maintain said leverage ratio within the required covenant range by banks. (LK/ZH)