PP Presisi Wins New Contract Of IDR 6.3 Trillion Until August 2024

Photo: Doc. PP Precision

JAKARTA - PT PP Presisi Tbk (PPRE) won a new contract with a total acquisition of new contracts reaching Rp6.3 trillion until August 2024 or 80 percent of the 2024 target. The achievement of the new contract rose 36 percent year on year (yoy) when compared to the same period in 2023 of Rp4.6 trillion.

The value of this contract is obtained from mining services, airport construction, toll roads, production plants and other civilian infrastructure. The mining services carried out by the Company include mining development, mining operations, hauling ore nickel and hauling road maintenance, while for civilian construction services include airport construction, toll roads/non-toll roads, piers, and other civil construction services.

The total additional new contracts came from external employers by 85 percent and PP Group by 15 percent. Along with the Company's strategy to expand the external market share/outside the PP Group has proven that PPRE is able to compete in the national mining and civil service construction sector. In addition, PPRE continues to synergize with PP Group in the development of civil infrastructure and the like.

"The target for obtaining new contracts in 2024 is around IDR 7-8 trillion, where the largest composition is mining services and civil construction services as the Company's core business. As a Heavy Equipment-Based Integrated Construction Company, we believe mining services can become a sustainable business and can have a positive impact on the Company in order to increase profitability," said President Director of PT PP Presisi Tbk, Arzan, in a written statement, Wednesday, September 4.

He is optimistic that he can achieve the year-end target by increasing the acquisition of a new contract of Rp. 1 trillion- Rp. 2 trillion while still being dominated by mining service work in the third and fourth quarters.

"Furthermore, we are in the process of preparing for the fulfillment of the heavy equipment needed to support the productivity of the Company, in order to achieve projected revenue and profit targets. We will continue to focus on mining services and civil construction that can improve optimal performance in the coming years," concluded Arzan.