AMT escapes RI crisis

AMT escapes RI crisis

SINGAPORE (Reuters): Electronics contract manufacturer PT Astra Microtronics Technology (AMT) has escaped Indonesia's economic crisis and expects sales to rise more than 10 percent this year, a senior official said yesterday.

"Annual sales last year were in the US$90 million range. This year, it was projected to be $105-108 million," chief operating officer Michael McKerreghan told Reuters in an interview.

AMT has a plant on Batam island involved in silicon wafer preparation, assembly and testing of integrated circuits and warehousing and shipping of final products.

McKerreghan said AMT did not have any business from crisis- ridden Indonesia as it was an export-oriented company. Its base of 40 customers hardly ship any products through Indonesia, he said.

AMT also operated independently of troubled parent Astra International, McKerreghan said.

Astra International is Indonesia's largest automotive firm and is owned by the Nusamba Group, an investment vehicle for three charities headed by former President Soeharto. It holds a 85 percent stake in AMT.