CTRA’s performance in 2Q20 was supported by revenue from the development segment with an 89% contribution. The Landed house and shophouse segment was the only segments that grew during the PSBB period. 2Q20 income was booked at IDR1.29 trillion (-13.6% YoY), followed by the first net loss recorded by CTRA at IDR8 billion. Currently, there is a discourse on adding mortgages to the PEN program. If realized, this will be a positive sentiment, but CTRA will still have to set a strategy in order to attract homebuyers.
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