PKPK - PT. Perdana Karya Perkasa Tbk

Rp 83

-4 (-4,60%)

JAKARTA – PT Perdana Karya Perkasa Tbk (PKPK) hopes to boost their revenue by 100 percent this year with eyes set on potential contracts worth over Rp666 billion.

“In the past, our company focused on oil and gas and construction support, now many customers are pending new projects, so we think that we must seek other projects outside of oil and gas,” Director Untung Haryono told IDNFinancials correspondent after the company’s shareholder meeting in Jakarta on January 19, 2016.

The company has their eyes set on ten new contracts with a net worth of Rp666.6 billion this year, however likely realization of those would be only thirty percent according to Haryono. Up until mid-January 2016, none have been secured.

While the last contract from twenty-six year client PT VICO Indonesia ceased to be renewed, Perdana Karya Perkasa will rely on existing customers Santos Pty Ltd, Total E&P Indonesia and PT Pelindo III (Persero) to generate revenue in the first quarter 2016.

Within the first nine months of last year, PT VICO Indonesia contributed 96% of Perdana’s total operating revenue of Rp19.9 billion. At that time, the company booked a net loss of around Rp35.2 billion according to its third quarter financial report.

Moving forward, management hopes to secure more construction projects such as, its US$500 – US$600 thousand contract with Pelindo Surabaya to build warehouses. (CH)