JAKARTA. PT PP (Persero) Tbk (PTPP) aims to attain a net profit growth rate of approximately 18% and a new contracts growth rate of 47% in 2022 by implementing planned business strategies.
One of the strategies that will be initiated by PTPP this year is the enhancement of investment management in the Integrated Industrial Zone of Batang. The company is optimistic about securing a contract in the said area, as stated by Yuyus Juarsa, Corporate Secretary of PTPP. Several contract opportunities include preparing 2.65 thousand hectares of land and establishing facilities, dry ports, and other supporting infrastructures.
Additionally, PTPP will focus on asset recycling, or divestment, to improve balance sheet conditions. The asset recycling initiative will be applied to heavy equipment used in construction. Then, the funds collected from selling heavy equipment will be used to upgrade heavy equipment into the ones that meet the company’s needs.
PTPP will also initiate this asset recycling to its shares owned in four different joint ventures. These ventures are directly owned by both the company and its subsidiaries. The names are not disclosed, but they run in the property, power plant, and crude oil sectors.
“Along with the transformation program of state-owned enterprises (BUMN) proposed by the Minister of BUMN, Erick Thohir, PTPP hopes that this corporate action will solidify the performance of the parent company and its subsidiaries,” Agus Purbianto, Finance and Risk Management Director of PTPP, concluded. (KR/ZH)