Jakarta. Wijaya Karya Beton, the concrete-making arm of state contractor Wijaya Karya, booked Rp 750 billion ($58 million) of new contracts in the start of the year to April 17 as construction projects in the country start to pick up.

“Growth in total contract was slow in the first quarter, but we’ve started to see things pick up in the past few weeks,” said Fery Hendrianto, operational director of Wijaya Karya Beton, during a press conference in Jakarta on Thursday.

“The slowdown was not because we weren’t able to compete, but it’s because most of the state budget isn’t there yet,” he added. Fery didn’t provide comparable year-earlier figures.

The listed company — which went public last year — had seen a 15 percent drop in new contracts in the first three months this year to Rp 550 billion, from Rp 650 billion in the same January-March period of 2014, according to the director.

“New contracts during the first quarter was largely dominated by state-owned enterprises and private companies,” Fery said.

Wijaya Karya Beton targets to book up as much as Rp 4 trillion in new contracts this year, which would be more than half of the Rp 2.6 trillion it procured in 2014.

GlobeAsia

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Source: The Jakarta Globe