STIC maintains profit<\/p>\n
SINGAPORE (Reuters): Infrastructure based Singapore
\nTechnologies Industrials Corp (STIC) is maintaining its 15
\npercent profit growth target for 1998 despite the unrest in
\nIndonesia, a top company official said yesterday.<\/p>\n
After a news conference to announce the merger of STIC and
\nSembCorp, Ho Ching, president of Singapore Technologies Pte Ltd,
\nthe parent of STIC, told Reuters his company was holding to its
\nforecast<\/p>\n
Government-owned Singapore Technologies holds 70 percent of
\nSTIC, which operates industrial parks and hotels in Indonesia.<\/p>\n
The group has three industrial parks. Two are on Indonesia's
\nBatam and Bintan islands and the third in Wuxi, China.<\/p>\n
\"It will not impact our growth because if you look at our
\nIndonesian exposure, it is not as if we have got manufacturing
\ncompanies in Indonesia or operations in Indonesia where there are
\nproblems,\" she said.<\/p>\n
\"We are just managing industrial parks, where the clients are
\ninternational and exporting, not producing for the domestic
\nmarket,\" Ho added.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/stic-maintains-profit-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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