PT PP Presisi Tbk pocketed a new contract worth IDR 1 trillion in the first three months of 2022. This figure increased significantly by 26% year on year (yoy) from the same period last year of IDR 444.1 billion. 

The new contract was obtained from mining development for the Weda Bay Project amounting to Rp 222.5 billion, Halim Airport Revitalization Rp 46.7 billion, North Sumatra Binjai Railway Rp 85.8 billion and subsidiary PT LMA in the Basic Engineering Design Road Hauling project amounting to Rp 72. ,6 billion.

President Director of PT PP Presisi Rully Noviandar said, all of these projects were nickel mining service projects and civil work projects that his party had worked on both from PP Presisi and from PT LMA.

Meanwhile, based on the new contract business line until March 2022, it was obtained from the civil work business line of Rp 392.4 billion (up 38.4%), mining services Rp 538.2 billion (52.67%), structure work Rp. 6.92%), production plant and heavy equipment rental Rp 20.6 billion (2.01%).

"Until March 2022, new contracts from external parties dominate the acquisition of new contracts with a contribution of 95% coming from the non PP group and 4% from the group," said Rully in a written statement, Monday (4/4/2022).

He added, with the dominance of the acquisition of new contracts, this made the Company's positioning as the main contractor of civil construction and mining services increase.

With these competitive numbers, Rully is optimistic that his party will be able to achieve the 2022 target by making mining services the main contributor to the Company's performance. Recurring income from this business is also believed to support cash flow .

In addition to focusing on obtaining new contracts, PT PP Presisi also focuses on performance progress, both in civil works and mining services, which is reflected in the continuous acquisition of new contracts in the mining development of the Weda Bay Project.

"The company will continue to seek new contracts and even exceed it by focusing on the nickel mining sector and integrated national strategic projects," concluded Rully.

Source: https://www.cnbcindonesia.com/market/20220404132920-17-328560/pp-presisi-kantongi-kontrak-rp-1-t-di-kuartal-i-2022