PTPP posted a 2Q20 profit of IDR3 billion (-98.6% YoY), which is the company’s deepest bottom-line decline. Even though it exceled in acquiring new contracts compared to other state-owned construction companies, or reaching IDR8.98 trillion during 1H20, in the future PTPP must sort out which contracts have good payment scheme so as not to burden the company’s cash. In addition, the increased infrastructure budget in the 2021 Draft State Budget (RAPBN) is a breath of fresh air for PTPP’s performance next year.
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