Jasa Prima estimates its net profit to decline by 75% in Q1 2020
JAKARTA - PT ICTSI Jasa Prima Tbk (KARW), a provider of maritime infrastructure facilities, estimates to record a 75% decline in its net profit in the first quarter (Q1) of 2020 compared to the same period last year, due to the Large-Scale Social Restrictions (PSBB) implemented to overcome the COVID-19 outbreak. Therefore, the company will review a number of policies to maintain business continuity.
Inesa Anjani, Corporate Secretary of PT ICTSI Jasa Prima Tbk (KRAW), said that the company would expand to new markets to maintain its business. "We conduct periodic business strategy analysis by considering global issues related to the COVID-19 outbreak," she said in a disclosure on Friday (29/5).
According to her, the current condition affects the company's ability to pay its short-term debts with a total value of US$ 53.84 million. (LK/AR)