As of May 2024, PP (PTPP) Has Secured Contracts Worth IDR 8.9 Trillion

June 11, 2024, 09.25 AM | Reporter: Vina Elvira

ILUSTRASI. Workers carry out activities on a building construction project carried out by PT PP (Persero) Tbk (PTPP) in Jakarta, Wednesday (15/5/2024). Throughout the first quarter of 2024, PTPP pocketed operating revenues of IDR 4.61 trillion or an increase of 5.6% on an annual basis with a profit jump of 176.4% to IDR 94.6 billion.The drivers of PTPP performance are dominated by the construction sector, infrastructure projects, buildings and several EPCs.(KONTAN/Cheppy A. Muchlis)

CORPORATE STRATEGIC - JAKARTA. PT PP (Persero) Tbk (PTPP), a state-owned construction and investment company, has reported a new contract value of IDR 8.9 trillion ($620 million) as of May 2024, marking a 31.35% increase from the same period last year, which stood at IDR 6.7 trillion ($466 million).

The majority of these contracts were funded by the government, accounting for 53.02%, followed by state-owned enterprises at 32.49%, and private sector funding at 14.49%.

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