From the Wires
PTPP Projects Third Quarter 2012 Net Profit to Jump 73%
Nov. 11, 2012 10:03 PM
Jakarta, Indonesia, Nov 12, 2012 - (ACN Newswire) - PT PP (Persero) Tbk (IDX: PTPP), a leading Indonesian construction and investment company, projected its Net Profit through the third quarter of 2012 at Rp.105,4 billion, growing 73% as compared to Rp.60,9 billion for the same period last year. The growth resulted from an increase in revenues of 34% and with the support of innovation and efficiency programs continually implemented by the company.
A Certified Public Accountant is auditing the complete Financial Statements in relation to the company's plan to issue Bonds in the first quarter of next year.
The greatest contribution to the revenues of the company came from the construction sector followed by the EPC sector, while in terms of project ownership, business came from Government and State-Owned Enterprises(81%) and the private sector (19%).
New contracts through September 2012 amounting to Rp.15,2 trillion included Surabaya Educity Apartment, Pluit Landmark, Kualanamu Airport, Muara Labuh - Sumatra Geothermal Power Plant (PLTP) and 100 MW Gas-Turbine Power Plant EPC project in Duri Pekanbaru, Sumatra, Jalan Papua. The largest gain derived from PT Pelindo II for the "New Tanjung Priok" or Kalibaru port project, amounting to Rp.8,2 trillion.
In the EPC (Engineering, Procurement and Construction) sector, the company executed several Power Plant and Mining projects including a 65 MW Gas-Fired Power Plant (PLTG) in Talang Duku Palembang, a 2x7 MW Steam Power Plant (PLTU) in Central Lampung, a 3X40 MW Combined Gas-Steam Power Plant (PLTGU) in KDL Cilegon, a 100 MW Gas-Turbine Power Plant (PLTMG) in Duri Riau and a 90 MW Gas-Turbine Power Plant (PLTMG) in Sei Gelam Jambi, the first micro-gas-turbine power plant project ever in Indonesia, to be completed in May 2014. The executed EPC in the Mining sector include Jetty, Barge Loader & Conveyor - Jembayan, Serakaman Sebuku, and Berau Coal Suaran, all of which are located in Kalimantan.
For the result of investment of the company in the 65 MW Gas-Fired Power Plant (PLTG) in Talang Duku Palembang, the company participated by contributing electricity during the Sea Games event sometime ago, and the recurring income from the project was realized this year.
The company's participation in infrastructure development is considerably high, including the construction of 6 Airports, i.e. Sepinggan Airport in Balikpapan, Ngurah Rai Airport in Bali, Juata Airport in Samarinda, Sultan Taha Airport in Jambi, Supadio Airport in Pontianak, and Kualanamu Airport in Medan for an Airport Railway Station package, and the construction of seaports, such as Bayur Bay in Western Sumatra, Lamong Bay in East Java, Kariangau Pier in Kalimantan, New Tanjung Priok in Jakarta and some highways.
"Our growth strategy focuses on the growing performance of four business pillars: Construction, Property, EPC and Investment with the support of innovation and efficiency program, development of Human Resources, sound financial condition, risk management and implementation of Good Corporate Governance", explained Bambang Triwibowo, the President Director of PT PP.
About PT PP (Persero) Tbk
PT PP (Persero) Tbk (IDX:PTPP) is a leading Indonesian Construction, Property and Infrastructure Company, and one of the largest state-owned construction companies in Indonesia, established in 1953. Among the projects completed by PT PP are Hotel Indonesia, People's Consultative Assembly / House of Representatives Building, Balerang Cable Stayed Bridge Tonton, Tanjung Perak Port and several skyscrapers in the primary business district area in Jakarta. PTPP has consistently maintained an annual profit growth of 25% - 30%. For more information, please visit http://www.pt-pp.com/.
Source: PT PP (Persero) Tbk
PT PP (Persero) Tbk
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