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View all search resultsPPA to buy Waskita notes worth Rp 200 billion
JAKARTA: State asset management company PT PPA confirmed Friday that it would purchase promissory notes issued by state construction company PT Waskita Karya to support the company's revitalization program
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J
AKARTA: State asset management company PT PPA confirmed Friday that it would purchase promissory notes issued by state construction company PT Waskita Karya to support the company's revitalization program.
"PPA will buy Waskita's promissory notes worth Rp 200 billion*US$22.2 million*," PPA corporate secretary Renny O. Rorong said in a press release published on Friday afternoon in Jakarta.According to Renny, the fund raised from the notes will be used by Waskita to strengthen company financial performance in finding new infrastructure and construction contracts.
It was reported that Waskita has secured Rp 7 trillion in new contracts this year. "About 90 percent of the total contracts are government's projects while the rest are private company's projects, both domestic and overseas," Waskita president director M Choliq told journalists.
