JAKARTA – PT Total Bangun Persada Tbk (TOTL) collected the revenue of IDR 459.33 billion in Q1 2021, diminishing from IDR 725.74 billion in Q1 2020. Mahmilan Sugiyo Warsana, the Corporate Secretary of Total Bangun Persada, announced the news in the information disclosure, quoted Tuesday (11/5).
Warsana reported that the revenue of Q1 2021 resulted from the progress of past projects in 2020 after 1 to 3 years of construction. He explained that the new contracts’ values from the current period have not yet made a significant contribution to the company’s revenue. “The value of new contracts in Q1 2021 amounted to IDR 89 billion,” he added.
According to Warsana, the said value improved from IDR 56.58 billion in Q1 2020. Some of the contracts originated from third-party auctions. By the end of the year, the company aims to secure new contracts worth IDR 1.5 trillion.
It was also specified that the company had prepared IDR 3 billion for capital expenditure, taken from the internal cash. The fund would be allotted to purchasing information technology (IT) devices, IT software, and project equipment. (LK/ZH)