JAKARTA. PT Waskita Beton Precast Tbk (WSBP) will review and revise its targets this year, including new contract target, revenue target, and capital expenditure allocations, due to the impact of the COVID-19 pandemic.
Corporate Secretary of PT Waskita Beton Precast Tbk., Siti Fathia Maisa Syafurah explained that the revision is still being discussed by the company's management. Previously, WSBP targets to record Rp 10 trillion of revenue with a capital expenditure budget of Rp 390 billion.
According to Fathia, WSBP obtained new contracts worth Rp 576.54 billion in Q1 2020. "The realization of contracts in the first quarter of this year is lower compared to the same period last year, which reached Rp 2.2 trillion," she said as quoted from KONTAN, this week.
She also explained that her party set aside a portion of its construction budget to handle the coronavirus pandemic, which affects the company's ability to bid on tenders. "This causes new contracts to be small," she explained. (AM/AR)