Boost Sales in 2022, Bukaka Aims for PPP Projects

JAKARTA, KOMPAS.com – PT Bukaka Teknik Utama Tbk will continue to look for promising business opportunities to support sales and revenue performance in 2022.

One of them is targeting national strategic projects (PSN) with the Government and Business Entity Cooperation (PPP) scheme.

Director PT Bukaka Teknik Utama Tbk Afifuddin Suhaeli revealed this when he answered: Kompas.comin the Annual Public Expose, in Bogor, Wednesday (19/5/2022).

“We are promoting PPPs, because the government is having difficulties in funding construction projects, especially PSN,” said Afifuddin.

Therefore, he continued, the Company took the initiation and creativity of funding through the KBPU scheme.

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One of the projects currently underway is the replacement or duplication of the Callender Hamilton bridge on the island of Java through its subsidiary, PT Baja Titian Utama.

The cooperation contract with the Ministry of Public Works and People’s Housing (PUPR), which was obtained in 2021, scored an investment value of Rp 2.19 trillion.

The company will carry out the project of 37 bridge locations spread across Banten, West Java, Central Java, and East Java.

To note, this PPP collaboration has a period of up to 12 years consisting of two years of construction and 10 years of service.

Afifuddin ensured that this PPP Callender Hamilton bridge would not be the last. The Company will continue to look for opportunities with similar cooperation schemes with various other ministries.

“Hopefully there will be several more PPPs in the next few years. How do we find the right financing scheme, in accordance with the existing budget, and maximize the state budget with a more creative scheme,” Afifuddin added.

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Apart from PPP, the Company also continues to look for foreign market opportunities, especially Europe and the Middle East.

Through the new entity Bukaka Three D Private Limited, the Company is working on a procurement contract for 36 units passenger boarding bridge at several Indian airports.

The Company cooperates with Indian companies to establish the smooth operation of the implementation of the work.

Financial performance

Afifuddin is optimistic that the work contracts and a number of opportunities in the future will enable the company to realize its revenue and sales targets in 2022 of IDR 3.8 trillion.

Meanwhile, until the first quarter of 2022, Bukaka recorded sales of Rp. 783.9 billion or 20.27 percent of the target.

Meanwhile, in the net profit segment, the Company only posted 25.22 percent or Rp. 99 billion from the projected Rp. 392.5 billion.

Meanwhile, throughout 2021, the Company earned revenue of Rp. 3.98 trillion or decreased by 34.07 percent.

Likewise, gross profit and net profit were recorded at Rp 734.12 billion and Rp 423.71 billion, respectively.

According to Afifuffin, this decline in income, apart from being caused by the Covid-19 pandemic which was the biggest factor hitting the infrastructure and construction sectors, was allocated a lot of government funds for the health sector.

“So the recovery has not been seen, and it has an impact on the infrastructure and construction sector,” he said.

However, the Company’s assets increased from Rp 4.74 trillion in 2019 to Rp 4.98 trillion in 2020.

The Company’s equity also increased from Rp 2.44 trillion in 2019 to Rp 2.84 trillion in 2022.

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The Corporate Secretary of Bukaka Teknik Utama, Teguh Wicaksana Sari, added that throughout 2021 the Company was also involved in several PSNs, especially electricity transmission, boarding bridgeand infrastructure.

Among them are three giant projects PLTA namely PLTA Poso energy, PLTA Malea Energy, and PLTA Kerinci Merangin Hydro.

While the Minihydro Power Plant projects (PLTM) that are being worked on are PLTM Cikaengan, PLTM Four founders, and PLTM Poso Energi Tiga Pamona.

“This year also the company succeeded in acquiring a portion of the shares of PT Petro Hydro Optima, which is currently working on the Jayamukti PLTM in Garut Regency, West Java,” said Teguh.

Then, through PT Bukaka Mega Investama, the Company gradually increased its investment with a value of Rp 1.12 trillion in PT Kerinci Merangin Hidrop (KMH) through the mechanism for taking part in new shares of KMH and PT Malea Energy worth Rp 150 billion.

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