Alkasa to expand business

Alkasa to expand business

JAKARTA (JP): PT Alumindo Perkasa (Alkasa), a publicly-listed aluminum extrusion company, has received shareholder approval to expand the business lines of its subsidiary, PT Determinan Indah, and to issue 5:3 bonus shares.

The company's president, Hadi Winarso, said after an extraordinary shareholder meeting here Wednesday that Determinan will produce aluminum profiles next year, supported by technical assistance from a Japanese firm, Sankyo.

At present, Determinan's main products are fabricated aluminum and stainless steel.

Hadi explained to reporters that to finance the expansion, Alkasa plans to inject fresh funds into Determinan, a move that will increase its shareholding in Determinan.

Determinan, founded in 1973 as a foreign investment company, became a domestic investment firm in 1992.

Determinan's total assets increased by 15 percent from Rp 16.9 billion as of the end of 1994 to Rp 19.5 billion as of Sep. 30.

Alkasa and Determinan are partly owned by the Jakarta city administration. (08)