JAKARTA. PT Totalindo Eka Persada Tbk (TOPS), a building construction issuer, only posted revenue of IDR 42 billion in the first semester (1H) 2024.

This revenue fell 80% year-on-year (yoy) or from the same semester last year, where TOPS recorded revenue of IDR 210.7 billion.

This decline caused TOPS to experience another loss of IDR 12.27 billion in 1H 2024. In the same period last year, TOPS also posted a loss of IDR 44.19 billion.

According to the financial report just released, TOPS revenue which exceeds 10% of total revenue in 1H 2024 comes from the University of Riau, for the Main Secretariat project of the Ministry of Research and Technology with total revenue of IDR 34.57 billion. Meanwhile, in 1H 2023, the company obtained two quite large revenues, namely from KSO Nuansa Cilangkap (Rp. 119.9 billion) and PT Risland Sutera Properti (Rp. 84.6 billion).

As of June 30 2024, TOPS' total assets were recorded at IDR 1.62 trillion. Meanwhile, the total equity is IDR 416.6 billion. (KR/LM)