JAKARTA – PT PP (Persero) Tbk (PTPP) recorded new contracts of IDR 17.4 trillion until August (8M) 2024, down from IDR 22.56 trillion recorded in 8M 2023. Said achievement is equal to 54.3% of new contract target of PTPP of IDR 32 trillion until the end of 2024.

This new-contract decline of 22.96% year-on-year (yoy), according to Agus Purbianto, Director of Finance of PTPP, resulted from several delayed tender schedules and processes.

Until August 2024, the government and private sector dominated 38% each of total new contracts of PTPP, while SOE’s portion was stuck at 24%.

Purbianto also mentioned that 54% of total new contract of PTPP in 8M 2024 came from road and bridge projects, followed by buildings with portion of 28%, and industry of 14%.

“Industry segment was mostly contributed by mining projects from MIND ID,” added Purbianto in Public Expose Live 2024 of PTPP today (28/8).

As one of construction SOEs, until June 2024, PTPP is also said to have managed 13 projects in IKN out of total 24 projects in Kalimantan this year. Some of them include Istana Garuda and an access road to IKN mosque.

Until August 2024, PTPP has increased 4 new projects in IKN, bringing the total to 17 projects worth a total of IDR 12.7 trillion. “Some must be completed in October, or in 2025,” added Yuyus Juarsa, Director of Building Operation of PTPP, on the same occasion.

It is known that those total 13 projects in H1 2024 are worth IDR 11.2 trillion, and, according to Juarsa, contributed 46.72% to PTPP’s revenue as of June 2024, which was recorded at IDR 8.79 trillion.

For the record, although its revenue in 2023 slipped 2.11% yoy to IDR 18.5 trillion, PTPP remains optimistic in setting the revenue target at IDR 20.5 trillion for 2024, or up 10.8% yoy. (ZH)