Barito pays Rp 50 devidend<\/p>\n
JAKARTA (JP): The shareholders of PT Barito Pacific Timber, a
\nmajor publicly-listed producer of plywood and blockboards,
\nyesterday approved the management's proposal to pay a dividend of
\nRp 50 (2.1 U.S. cents) per share.<\/p>\n
Speaking at a press conference after the company's
\nshareholders meeting yesterday, Barito Pacific's president, Joso
\nA.G., said that all the 1995 profit will be distributed as
\ndividends.<\/p>\n
He said that Barito Pacific's profit dropped by 52.4 percent
\nto Rp 70.12 billion (US$30.4 million) last year from Rp 147
\nbillion in 1994.<\/p>\n
\"The drop was due to the decrease of our sales volume and the
\nincrease of costs,\" he said, adding that the company's sales of
\nwood products last year dropped by 5.1 percent to Rp 817.82
\nbillion, while its costs surged by 8.3 percent to 84.9 percent of
\ntotal sales.<\/p>\n
He also said that Barito Pacific, which is owned by Prajogo
\nPangestu, is currently developing a coal mine in Kalimantan.<\/p>\n
\"What's encouraging is that we found a large amount of coal
\nreserves around our concession areas in Kalimantan. We have set
\nup four new subsidiaries to develop the mine. Hopefully we can
\nstart operations next year,\" Joso noted.<\/p>\n
He added, however, that Barito Pacific will maintain its core
\nbusiness of producing plywood and blockboards.<\/p>\n
The shareholders meeting also approved the appointment of a
\nnew board of directors, headed by Joso A.G. as president and
\nJusran as vice president. The directors include Augustinus
\nAryawan, Susana Sutanto, Yohannes Hardian, Uzeir, Setienven
\nLunardy, Pamudji, Dadang M.S. and Sutisna Wartaputra. (13)<\/p>",
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