JAKARTA - PT Acset Indonusa Tbk (ACST) posted revenue in the first half of this year amounting to Rp 1.55 trillion, down 7% compared to the same period last year.
Acset’s revenue in this period was still dominated by the infrastructure sector by 71%, construction by 13%, foundations by 8% and other sectors by 8%.
In the first semester, Acset also posted a net loss of Rp 404 billion, mainly due to delays in the completion of several CPF projects and structures. This delay creates an increase in funding costs, overhead costs, and additional costs to accelerate project completion. Acset also experienced an adjustment in the value of work which impacted on decreasing income and profits from the current project.
As of September, Acset has obtained a new contract of Rp1.67 trillion. The value of this new contract is dominated by two strategic power plant projects, namely the Civil Work of the Java 1 Gas & Steam Power Plant (PLTGU) and the Soma Karimun Steam Power Plant (2 x 25 MW) in Riau. (LM)