PTPP’s performance in 3Q20 was under below expectations. PTPP recorded an income of IDR3.27 trillion (-38.7% YoY, -2% QoQ) and profit of IDR10 billion (-94.2% YoY). Up to September 2020, PTPP new contracts reached 46% of its 2020 target. However, contract acquisition slowed down in 3Q20. PTPP is expected to realize potential assets divestment to gain fresh flow of funds and boost the FY20 and FY21 performance.
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