Determinan to expand business<\/p>\n
JAKARTA (JP): PT Determinan Indah, a subsidiary of publicly-
\nlisted aluminum extrusion company PT Alumindo Perkasa (Alkasa)
\nplans to expand its business next year at a cost of Rp 15 billion
\n(US$6.53 million).<\/p>\n
A director of Alkasa, Adjie B. Hassan, told The Jakarta Post
\nthat to finance the expansion, Alkasa has approval from its
\nshareholders for the subsidiary's plan to issue new shares which
\nwill increase and strengthen its capital base.<\/p>\n
The shareholders, in a recent extraordinary meeting here, also
\napproved the management's plan to issue three bonus shares for
\nfive old shares in Determinan.<\/p>\n
\"The new share issuance, however, will not change Alkasa's
\nposition as the majority shareholder. We will still hold a stake
\nof more than 50 percent in the company,\" said Adji.<\/p>\n
At present, Determinan's main products are fabricated aluminum
\nand stainless steel but Adjie declined to mention the company's
\nproduction capacity.<\/p>\n
Adjie said that the expansion will allow the subsidiary to
\nproduce aluminum profiles next year, with a monthly capacity of
\nabout 150 tons to 250 tons.<\/p>\n
Determinan was founded in 1973 as a foreign investment company
\nand became a domestic firm in 1993.<\/p>\n
It is 66.38 percent owned by Alkasa, 18.06 by the Jakarta City
\nAdministration, 10.52 percent by Gesit Aluminium and 4.05 percent
\nby Sankyo.<\/p>\n
Determinan's total assets increased by 15 percent from Rp 16.9
\nbillion as of the end of 1994 to Rp 19.5 billion as of Sept. 30.
\n(08)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/determinan-to-expand-business-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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