JAKARTA (Yosefardi) – State construction firm PT PP Tbk (PTPP) allocates capital expenditure (capex) of Rp2 trillion for 2016, higher than this year’s capex of Rp1.8 trillion.
PTPP is managed to get Rp2.25 trillion capital placement from the government, part of PTPP’s rights issue program to be launched next year. The company targets to raise Rp4.2 trillion proceeds from rights issue.
PTPP will focus on the construction of toll road and gas power plants next year.
Meanwhile state construction firm PT Adhi Karya Tbk (ADHI) allocates capex of Rp1 trillion for 2016, higher than Rp600 billion capex for this year.
ADHI will use capex to fund its property projects (hotel) alongside its lite rail transit (LRT) and power plant projects.