PT Selamat Sempurna posts US$6.17 million net profit<\/p>\n
JAKARTA (JP): Publicly-listed PT Selamat Sempurna booked a net
\nprofit of Rp 14.31 billion (US$6.17 million) for the year's first
\nnine months, a 125 percent increase over the same period last
\nyear.<\/p>\n
Finance director Johansyah Anwar said yesterday the company's
\nnet sales were Rp 92.40 billion for the January-September period,
\na 24.30 percent rise over the same period last year.<\/p>\n
Despite the increase the net sales were still lower than its
\n100 billion target, he said.<\/p>\n
The company, which makes automotive parts, expects total net
\nsales of about Rp 134 billion for 1996, he said.<\/p>\n
He said lower sales was from a drop in car demand as people
\ntook a wait-and-see approach to the production of new cars,
\nincluding Timor and Bimantara's Cakra and Nenggala, early this
\nyear.<\/p>\n
"But we managed to minimize our production costs by seven
\npercent. This resulted in the 126 percent increase in net
\nprofit," he said.<\/p>\n
He said his company substituted its raw materials with cheaper
\nones from different sources. The company also used new machines
\nwhich were more efficient.<\/p>\n
The company's net profits are expected to increase 20 percent
\nnext year, he said, adding that his company had won a contract
\nfrom four car companies to supply automotive spare parts.<\/p>\n
He said that in October his company signed a deal with
\nBimantara to supply oil filters and fuel tanks. His company has
\nalso signed a letter of intent to supply air and oil filters,
\nbreak pipes and fuel tanks to PT Timor Putra Nasional.<\/p>\n
"We will also set up a joint venture with Nam Yang of South
\nKorea to produce steering columns," he said, adding that the
\ninitial investment for the joint venture would be about US$1
\nmillion. (bnt)<\/p>",
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