PTPW - PT. Pratama Widya Tbk

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JAKARTA – PT Pratama Widya Tbk (PTPW), a foundation construction company, revised its new contract target to IDR 252 billion from IDR 387 billion by the end of the year. This downgrade is triggered by the surge of COVID-19 cases, which delays several infrastructure project tenders.

In the press release, quoted Thursday (14/10), Richard Antonio, Business Development Manager of Pratama Widya, confirmed that the company lowered its contract target by 65% of the initial target due to the COVID-19 cases surge mid-year. “The company used to believe that the pandemic would be moderated by this year. But, instead, there was a case surge in June and July 2021,” he admitted.

According to Antonio, his company only secured new contracts of IDR 196 billion until this September. These contracts are a diaphragm wall construction project for Leuwikeris water reservoir worth IDR 27 billion, a bored pile for flood control at a stream in Bekasi of IDR 9.9 billion, and another bored pile project for Universitas Internasional Batam Rectorate Office of IDR 6.9 billion.

“We are still participating in the tender for infrastructure construction in Java, which could hopefully meet the revised target,” Antonio further added.

As of June 2021, PTPW secured IDR 126 billion in revenue and IDR 16.5 billion in net profit. Its total equity and assets were IDR 381.6 billion and IDR 498 billion each. (LK/ZH)