Kimia Farma seeks higher profit<\/p>\n
JAKARTA: PT Kimia Farma, Indonesia's largest drugmaker,
\nexpects profit to almost triple to Rp 100 billion (US$11.8
\nmillion) this year on higher sales, the company said after a
\nshareholders' meeting.<\/p>\n
Kimia Farma earned Rp 35.4 billion last year on Rp 1.54
\ntrillion in sales. It forecast sales of 1.9 trillion this year.<\/p>\n
The shareholders also approved paying 30 percent of 2002
\nprofits as dividends, or equals to Rp 1,91 per share.<\/p>\n
The government plans to sell a stake in Kimia Farma this
\nyear, as part of an effort to raise Rp 8 trillion to help fund
\na budget deficit estimated at Rp 34.4 trillion. -- Bloomberg<\/p>\n
Astra's April car sales decline<\/p>\n
JAKARTA: PT Astra International, Indonesia's largest
\nautomaker, sold 8.9 percent fewer cars in April than in the year-
\nearlier month as exports dropped.<\/p>\n
Astra's sales of cars, led by assembled Toyota Motor Corp.,
\nIsuzu Motors Ltd. and Daihatsu Motor Co. vehicles, fell to 14,984
\nunits in April from 16,444 units in the same month a year
\nearlier,
\nsaid Indonesia's automakers' association, Gaikindo.<\/p>\n
Astra's exports fell 28.6 percent to 2,640 units from 3,698
\nunits in April last year. Astra's domestic sales fell 3.2 percent
\nto 12,344 units.<\/p>\n
Overall, Indonesian automakers sold 32,437 cars in April, a
\nfall of 1.9 percent from 33,057 units a year earlier. Domestic
\nsales rose 1 percent to 29,640 units. -- Bloomberg<\/p>\n
Indofood to boost bond sale by 50%<\/p>\n
JAKARTA: PT Indofood Sukses Makmur, the world's-biggest noodle
\nmaker, will increase a sale of its five-year bond in June by 50
\npercent to Rp 1.5 trillion (US$178 million) to meet investor
\ndemand.<\/p>\n
"The reception from investors has been good," said Wahzary
\nWardaya, managing director of investment banking at Danareksa
\nSekuritas, which is helping arrange the sale.<\/p>\n
Indofood received demand for up to Rp 3.5 trillion of bonds,
\nwith a coupon set at 13.5 percent. "The interest rate range is
\nattractive to investors," Wardaya said.<\/p>\n
Indofood is among a growing number of Indonesian companies
\nlooking to capitalize on a decline in domestic interest rates to
\ncut borrowing costs or raise money for expansion.<\/p>\n
PT Astra Sedaya Finance, a finance company owned by PT Astra
\nInternational and GE Capital, will sell Rp 900 billion of bonds
\nthis month to help fund growth in its automotive lending.<\/p>\n
The noodle maker will use the proceeds to replace short-term
\nloans. -- Bloomberg<\/p>\n
Pertamina '04 oil consumption to rise<\/p>\n
JAKARTA: Indonesia's national oil and gas company Pertamina
\nsaid Tuesday it has revised upward its forecast for local oil
\nproducts consumption to between 65 million and 66 million
\nkiloliters in 2004 from 63 million kiloliters.<\/p>\n
"Local demand for oil products will grow between 3 percent and
\n4 percent in 2004," Muchsin Bahar, a Pertamina director, told
\nreporters, without explaining why there would be higher demand.<\/p>\n
He said local oil products consumption forecasts for 2003 and
\n2005 remain at 60.92 million kiloliters and 65.5 kiloliters
\nrespectively.<\/p>\n
Muchsin said current oil products stocks are at 24 days.<\/p>\n
He said Pertamina is preparing to restart later this month its
\n260,000-barrel-a-day Balikpapan refinery. The Balikpapan refinery
\nhas been shut since early March for a maintenance turnaround. --
\nDow Jones<\/p>\n
UBS posts better than expected Q1<\/p>\n
ZURICH: Switzerland's largest bank, UBS, on Tuesday announced
\na net profit of 1.21 billion Swiss franc (US$923 million) in the
\nfirst quarter, down by 11 percent compared to the same period
\nlast year.<\/p>\n
Before goodwill payments, net profit declined by seven
\npercent, with most of the fall attributable to a 20 percent drop
\nin the value of the US dollar against the Swiss franc, UBS said
\nin a statement.<\/p>\n
The result exceeded the expectations of analysts, who had been
\ncounting on a net profit in the range of 930 million to 1.16
\nbillion Swiss franc.<\/p>\n
"While some degree of volatility cannot be excluded, we do
\nfeel that the downward pressure on our industry from the business
\nand market environment could be beginning to ease and that the
\nworst earnings declines may be behind us," UBS chief executive
\nPeter Wuffli said. -- AFP<\/p>\n
Hyundai's Q1 profit falls 28.8%<\/p>\n
SEOUL: South Korea's leading carmaker Hyundai Motor said
\nTuesday its first quarter net profit fell 28.8 percent,
\nreflecting a drop in non-operating gains.<\/p>\n
Hyundai Motor Co. recorded a net profit of 417.6 billion won
\n(US$348.8 million) for the three months to March.<\/p>\n
Sales rose seven percent to 6.09 trillion won and operating
\nprofit increased 6.1 percent to 612.9 billion won. Recurring
\nprofit dropped 26.4 percent to 631.6 billion won.<\/p>\n
For the same period, Hyundai sold 184,000 units at home, down
\n6.1 percent from a year ago, and exported 223,000 units, up 10.2
\npercent.<\/p>\n
Hyundai Motor aims to record 2.3 trillion won in operating
\nprofit on sales of 28.2 trillion won in 2003.<\/p>\n
The company aims to sell 1.82 million vehicles in 2003, up
\nfrom 1.72 million a year earlier. -- AFP<\/p>",
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