PT Bukaka Teknik Utama Tbk (BUKK) has allocated IDR500 billion in capital expenditure (Capex) for 2022 for the company subsidiaries’ business development to increase profits and sales.
The company was founded in 1978 and began operating in 1981. It is focusing on engineering design, construction and manufacturing in the energy, transportation and telecommunications sector.
Bukaka has absorbed IDR200 billion of its Capex this year, whereas the whole Capex of IDR500 billion came from internal assets, said President Director Irsal Kamarudin on August 3, 2022.
He hoped for a better performance in the second half of 2022. The company is optimistic to achieve the same sales target as of last year worth IDR3.86 trillion and earned profit worth IDR392.56 billion.
“This year’s figure might be the same, but there was an increase due to several projects and contracts we received and are now on the implementation stage,” said Kamarudin.
The ongoing Russia invasion to Ukraine has indirectly impacted Bukaka’s decreasing profit in the H1 2022.
“Due to the crisis, fuel prices went up and we suffer from it. Steel prices automatically increases too and everyone is affected,” Kamarudin added.
The COVID-19 pandemic also affected the company’s performance since its sales dropped by 25% in 2020.
