Saturday, 25 May 2019 | 21:06 WIB

Hutama Karya Secures New Contracts of IDR13.39 T as of June 2018

Hutama Karya headquarters.

JAKARTA, NNC - PT Hutama Karya (Persero) Tbk announced the acquisition of new contracts worth IDR13.39 trillion from January to June 2018. The projects that have been won by the end of the first half of this year reached IDR15.94 trillion.

Finance Director of Hutama Karya Anis Anjayani said the acquisition of new contracts comes from projects with types of works such as roads and bridges (IDR6.70 trillion), buildings (IDR0.77 trillion), transportation infrastructure (IDR0.59 trillion), EPC (IDR5.31 trillion) as well as property and other (IDR0.02 trillion).

Anis explained that the company set a new contract acquisition target of IDR21.3 trillion for this year. "The acquisition of Hutama Karya book order until June 2018 reached IDR33.6 trillion," she said in Jakarta, Wednesday (7/11/2018).

In addition, Anis said, to support the achievement of targets set at this year the company has a source of funding which is quite strong. Total equity of the company today is reaching IDR8.6 trillion. "If the equity is leveraged to obtain funding from banks HK can generate more revenue," she explained.

Hutama Karya also has a funding ceiling from banks in the form of Cash Loan plus bonds amounting to IDR2.7 trillion and its capacity is being processed which can increase to IDR3.3 trillion. Meanwhile, Non-cash Loan portion reached IDR6.1 trillion and will rise to IDR7.4 trillion.

"This ceiling is sufficient to meet the needs of implementation of projects that have been obtained and the projects to be obtained in 2018," said Anis.

Of various construction business activities undertaken during the first half of this year, Hutama Karya was able to achieve revenues of IDR9.6 trillion and profit of IDR614 billion.

Anis added that this year the company targets IDR25.7 trillion in revenue with profit target of IDR1.45 trillion.