Berkah Beton Sadaya's subsidiary secures housing construction contract of IDR 1.3 trillion
JAKARTA. PT Berkah Global Development (BGD), a newly acquired contractor company by PT Berkah Beton Sadaya Tbk (BEBS), has signed the Memorandum of Understanding (MoU) for a housing project worth IDR 1.3 trillion.
Hasan Muldhani, President Director of BEBS, confirmed that the said MoU was signed yesterday (18/1) alongside PT Manakib Rezeki in Bogor. "Our group is elated to be the part of housing and infrastructures construction owned by Manakib," he stated in the information disclosure in Indonesia Stock Exchange today (19/1).
Muldhani added that this year, BEBS contractor division targets minimum project revenue of IDR 1 trillion. By acquiring the said contract from Manakib, he is optimistic that the company could score project revenue of the contractor division of BEBS beyond the specified target.
"We are confident we could reach the objective this year. This MoU will extend to commercial projects, thus increasing the project value," Muldhani stated.
In addition, the project obtained by the contractor division will bring positive impacts to BEBS's financial condition. This is due to the fact that the company will become the raw materials supplier for projects currently handled by the contractors.
Based on idnfinancials.com data, BGD was recently taken over by BEBS last week. After the acquisition, the company then placed another investment of IDR 19 billion in BGD. These financial aids were given to support the company's vision of infrastructure business integration. (KR/ZH)