Jakarta: The global economic turmoil presents great opportunities for the state of PT Adhi Karya with the government, forced to spend heavily on infrastructure projects to protect the economy from external shocks.
"We are targeting 70 percent of our projects this year by the government and the rest of the private sector," Secretary of the Company Kunard Gularso said the office of the Ministry of State for State-owned enterprises on Tuesday.
In the context of the global economic slowdown, the government apart from more than 60 trillion Rupiah for infrastructure projects this year to help stimulate the economy and create jobs amid the threat of dismissal by the companies hit hard by the global slowdown.
According Kunard, private sector projects tend to be less reliable, especially in a time of crisis.
"The private sector projects the industry will be more financially risky because of the difficulty of obtaining loans today," he said, adding that these projects include the construction of offices, apartments and shopping centers.
Kunard Adhi Karya said that currently focuses on the construction of 32 km from the highway in Cirebon, a project worth about 900 billion Rupiah.
"It is a postponement of the draft last year," he said. "We are working on half phase to be completed in April."
Overall Adhi Karya has to complete many projects carried over from last year, with a total value of 8 trillion Rupiah.
In the period January to September last year, the company recorded Rp 52.16 billion in net income.
Kunard said the company has allocated Rp 150 billion to buy back its shares since last year, but not to spend about Rp 6 billion so far.
"We are still achieving redemption, and the plan should be completed by Jan, 13". (Dis)
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