Astra projects sales to grow 10%<\/p>\n
Rendi A. Witular, The Jakarta Post, Jakarta<\/p>\n
Publicly listed automotive giant PT Astra International
\nestimates sales this year will grow by between 5 percent and 10
\npercent on an increase in new car sales, especially from the
\nnewly launched Toyota Avanza and Daihatsu Xenia multipurpose
\nvehicles.<\/p>\n
Astra finance director John Slack said that currently Astra
\nhad received 50,000 orders for the two cars, which would become
\nthe main driver of the company's sales this year.<\/p>\n
\"We expect our sales to grow by between 5 percent and 10
\npercent this year,\" said Slack to reporters on the sidelines of a
\nceremony at the Jakarta Convention Center on Wednesday.<\/p>\n
He said that the company booked sales last year of around Rp
\n30 trillion (US$3.57 billion), or relatively the same as 2002.<\/p>\n
Late last year, Astra launched Avanza and Xenia, which were
\njointly manufactured by Daihatsu Motor Co. and its parent company
\nToyota Motor Corp. The two cars come with a relatively cheap
\nprice tag.<\/p>\n
The country's car sales this year is expected to reach around
\n360,000 units.<\/p>\n
Regarding the company's debt settlement, Slack said that it
\nplanned to accelerate the payment of its remaining $325 million
\ndebt by reducing it to $250 million this year.<\/p>\n
He also said that the company planned to allocate 25 percent
\nof its net profit last year, or Rp 200 per share, for dividend
\npayment. The company plans to hold a shareholders meeting in May
\nto approve the payment.<\/p>\n
A third of Astra shares is owned by Singapore-based Cycle &
\nCarriage Ltd.<\/p>\n
On the Jakarta Stock Exchange, Astra shares dropped by Rp 50
\nto Rp 5,400 on Wednesday.<\/p>",
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