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Related company : PEMBANGUNAN PERUMAHAN

Related company : PEMBANGUNAN PERUMAHAN

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Tone : Neutral

 

Construction SOEs cut revenue targets amid delays in government projects

Summary
The Jakarta Post, October 8, 2019
State-owned construction companies have lowered their new contract and revenue targets for this year following the postponement of a number of the government’s infrastructure development projects. Construction firm PT PP, for example, has cut its contract target by about 10 percent to only Rp 45 trillion (US$3.18 billion) from an initial target of Rp 50.3 trillion. “A number of government infrastructure projects have been pushed back, while several private companies are either postponing or canceling their projects this year,” the company’s president director Lukman Hidayat said. Another state-owned construction firm, PT Waskita Karya Tbk also revised down its new contract target this year to Rp 45 trillion from the initial target of Rp 55 trillion.
 
 

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