JAKARTA (Yosefardi) – Construction firm PT PTPP Tbk (PTPP) will acquire heavy equipment distributor, PT Prima Jasa Aldo Dua (PJA) and target to complete the acquisition by February, 2014.
PJA has assets of Rp200 billion. The acquisition will be funded by internal cash.
While its unit, PT PP Property, plans to build 3-star hotel next year which costs Rp120 billion, located in Makassar (South Sulawesi), Lombok (West Nusa Tenggara), and Bali.
PTPP expects to book net profit of Rp407 billion this year, grew by 31% from Rp309 billion in 2012. The company targets to book revenue of Rp12.3 trillion this year.
It had booked new contracts of Rp13.93 trillion as of October, 70% of this year’s target (Rp20 trillion). Its order book then totaled Rp29.80 trillion, of which carry over contracts amounted Rp15.87 trillion.