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2013-11-15 03:10:28
PTPP eyes heavy equipment firm

Pembangunan Perumahan (PP) is looking to acquire Prima Jasa AldoDua, heavy equipment leasing company, to support its construction business. According to Tumiyana, PP Finance Director, the acquisition is expected to be completed by Feb14, and will be funded by internal cash. Tumiyana added that Prima Jasa’s total assets were valued at Rp200bn, although the acquisition cost is yet to be disclosed. Other than heavy equipment, PP also plans to strengthen its property business. In 9M13, PP’s profit surged 106.7% to Rp218.3bn.

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