Total Bangun Persada (TOTL) Targets New Contracts Worth IDR 3.5 Trillion This Year

LISTED COMPANY - JAKARTA. Construction issuer PT Total Bangun Persada Tbk. (TOTL) continues to implement several strategic initiatives to maintain performance after the 2024 Election.

Total Bangun Persada's Corporate Secretary, Anggie S. Sidharta, stated that this is done by maintaining a positive cash flow, implementing efficiency and optimization in performance and operational costs to ensure sustainability (sustain).

"This year, TOTL is targeting a new contract value in 2024 of around IDR 3.5 trillion. We continue to actively seek construction projects to meet this year's new contract target," she explained to Kontan, Tuesday (26/3).

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This figure is higher than TOTL's new contract target in 2023, which was IDR 2.9 trillion. Meanwhile, in January 2024, TOTL was able to record a new contract of around IDR 237 billion.

Meanwhile, the revenue and net profit growth targets that TOTL  wants to achieve this year are around IDR 3.1 trillion and IDR 150 billion, respectively.

"We are currently involved in many tender processes with a value of around IDR 8.7 trillion. These tenders include projects in the categories of mixed-use building construction, hotels, data centers, industrial, and others," she explained.

This year, TOTL is also preparing a capital expenditure (capex) fund of around IDR 8 billion in 2024. This fund will be used for the provision of project equipment IT equipment and software.

"The company still needs to be vigilant in 2024, considering Indonesia has just held an election and the ongoing geopolitical issues, this poses a unique challenge for TOTL," she concluded.