Duta Graha expects solid showing this year and in 2008

Ridwan Max Sijabat, The Jakarta Post, Jakarta

Newly listed construction company PT Duta Graha Indah expects to book Rp 75 billion (around US$7.9 million) in net profit this year and hopes to win projects worth Rp 3.5 trillion next year, mostly government-funded construction projects in the regions.

Duta Graha said Monday it was expanding its operations to Papua, North Sumatra and Aceh, as well as remote regencies, in order to achieve the target.

"We are still working on a great number of infrastructure projects, such as airports, roads, bridges and government buildings in East Kalimantan, North Maluku and South Sulawesi.

"We are focusing on projects in the regions because, under local autonomy, the regions will become centers of growth in the coming decades," said Duta Graha president J.B. Koesnarno.

Corporate secretary Djohan Halim said the company had good prospects in the coming years and would improve its credibility with the public due to its good performance this year.

"Our net profit this year will reach Rp 75 billion, an increase of four percent from the targeted Rp 72 billion, or 25 percent more than the Rp 60 billion that was estimated by the research conducted by stock market analysts," he said.

He said the company was working on a number of infrastructure projects in West Sumatra, Riau Islands, Halmahera and Central Java this December that would be carried over into 2008.

Koesnarno was optimistic about the prospects of the company in the years to come.

"We will continue to focus on government projects in the regions as not only are these more profitable, it is also in line with our commitment to helping speed up regional development so as to improve people's well-being," he said.