ADHI - PT. Adhi Karya (Persero) Tbk

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JAKARTA – PT Adhi Karya (Persero) Tbk (ADHI) still has IDR 105 billion of capital expenditure (capex) in its possession for investment, which results from the issuance of the Shelf-Registration Bonds II Phase II of 2021.

Agung Dharmawan, Director of Finance and Risk Management of Adhi Karya, revealed that the remaining capex has been deposited in ADHI's current account in Bank Mandiri, equipped with an interest rate of 1.9%.

Out of the bonds issuance proceeds of IDR 670.98 billion, the company has allocated IDR 403.11 billion for capex. Until December 2022, ADHI managed to realise IDR 298.10 billion of said amount of capex. It also used up the entire allocation for refinancing of IDR 110 billion and working capital of IDR 157.87 billion.

ADHI reportedly had secured IDR 22.4 trillion worth of new contracts until last November, increasing 63% compared to the same period in 2021. The engineering and construction segment brought in 88% of those new contracts, followed by the property and hospitality business line with 6%, while other business lines covered the rest of the contracts.

The remaining capex will be utilised to drive the optimisation of contract procurement this year, especially construction projects of roads and bridges, buildings, and other infrastructures. (LK/ZH)