Astra posts sharp rise in net profit<\/p>\n
JAKARTA: Indonesian auto firm Astra International announced on
\nFriday its net profit more than tripled last year to Rp 3.64
\ntrillion (US$408.5 million), partly due to foreign exchange gains
\non its dollar debt.<\/p>\n
The figure compares with a restated net profit of Rp 844
\nbillion for 2001.<\/p>\n
The company reported forex gains of Rp 940 billion in 2002, a
\nreversal from forex losses of Rp 857 billion the previous year.<\/p>\n
It said sales increased to Rp 30.27 trillion in 2002 from the
\nrestated Rp 29.24 trillion in 2001 while operating profit rose to
\nRp 2.88 trillion from Rp 2.68 trillion.<\/p>\n
The results were in line with the forecasts of analysts, who
\nsaid the relatively flat operating profit growth reflected flat
\ncar sales.<\/p>\n
The Indonesian Automotive Industries Association says Astra
\nInternational vehicle sales declined to 176,752 last year
\ncompared with 177,189 the previous year.<\/p>\n
Domestic sales declined to 135,773 from 138,192 a year
\nearlier. -- AFP<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-AdhiKarya-bonds
\nAdhi Karya to issue Rp 200b in bonds
\nJP\/14\/<\/p>\n
Adhi Karya to issue Rp 200b in bonds<\/p>\n
JAKARTA: Indonesia's state-owned construction company PT Adhi
\nKarya will issue around Rp 200 billion in bonds in the second
\nquarter of the year to partly refinance maturing debts and raise
\ncash for working capital, a banker involved in the plan said
\nFriday.<\/p>\n
The company has appointed PT Danareksa Sekuritas as lead
\nunderwriter for the issue, Wazhari Wardaya, Danareksa's president
\ndirector, said.<\/p>\n
The company hasn't set a detailed timetable for the bond issue
\nyet, he said.<\/p>\n
A slew of local companies are rushing to tap the domestic bond
\nmarket currently amid falling interest rates. Over Rp 7 trillion
\nin new corporate bonds is expected to be issued this year. -- Dow
\nJones<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-Hopewell-TanjungJati-Sumitomo
\nTanjung Jati B sold to Sumitomo
\nJP\/14\/<\/p>\n
Tanjung Jati B sold to Sumitomo<\/p>\n
HONG KONG: Hopewell Holdings Ltd. said on Friday it sold its
\nstalled Indonesian power project to Japan's Sumitomo Corp. for
\nUS$306.2 million.<\/p>\n
Hopewell, a Hong Kong-based infrastructure company, owns 80
\npercent of the 1,200-Megawatt Tanjung Jati B project in Java, and
\nIndonesia's PT Impa Energi owns the rest.<\/p>\n
Hopewell will receive about $215 million of the sale price, PT
\nImpa Energi will get about $53 million, and $38 million will be
\nused to pay outstanding contractors' bills for the project.<\/p>\n
Hopewell will apply its share of the sale proceeds to general
\nworking capital but \"will consider seeking other investment
\nopportunities,\" the company said in a legal notice.<\/p>\n
The Tanjung Jati project began in 1997 with Hopewell as
\ndeveloper and Sumitomo as constructor, according to Global Power
\nreport.<\/p>\n
Hopewell made a HK$4.82 billion provision in 1998 for
\ninvestments in the Tanjung Jati B Power Station after the Asian
\nfinancial crisis forced Indonesia to pull the plug on the
\nproject.<\/p>\n
The company's Friday statement said Hopewell has no intention
\nto participate in Indonesian power projects after the Tanjung
\nJati sale. -- Dow Jones<\/p>\n
;AFP;
\nANPAf..r..
\nCorporateBrief-GudangGaram-flat-profit
\nGudang Garam reports flat net profit
\nJP\/14\/<\/p>\n
Gudang Garam reports flat net profit<\/p>\n
JAKARTA: Indonesia's largest clove cigarette maker Gudang Garam
\non Friday announced a virtually flat net profit of Rp 2.09
\ntrillion (US$234 million) for last year due to a rise in taxes.<\/p>\n
It said pretax profit increased to Rp 3.01 trillion from Rp
\n2.98 trillion, while taxes rose to Rp 895 billion from Rp 874
\nbillion.<\/p>\n
The company booked an operating profit of Rp 3.46 trillion
\ncompared to Rp 3.39 trillion previously.<\/p>\n
Sales were up at Rp 20.94 trillion in 2002 from Rp 17.97
\ntrillion a year earlier, mainly due to price increases.<\/p>\n
According to the Association of Clove Cigarette Producers,
\nindustry-wide production dropped to 177.05 billion cigarettes in
\n2002 from 199.65 billion a year earlier.<\/p>\n
It said Gudang Garam's output declined to 60.21 billion
\ncigarettes from 67.40 billion.<\/p>\n
Gudang Garam maintained its leading position, with market
\nshare increasing slightly to 34 percent in 2002 compared to
\nSampoerna's 22 percent. -- AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/astra-posts-sharp-rise-in-net-profit-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}