Asiana's bonus shares

JAKARTA (JP): A publicly-listed toymaker, PT Asiana IMI Industry, obtained its shareholders' approval to pay dividends of Rp 50 (2 U.S. cents) per share and to issue three bonus shares for every five old shares.

The company said yesterday the total dividends for the year 1995 amounted to Rp 1.5 billion or 52 percent of the company's net profit of Rp 2.9 billion.

Last year's profit was far lower than the Rp 4 billion gained in 1994.

The company also said the issuance of bonus shares will increase Asiana's total shares to 40 million shares.

Asiana's net sales last year rose 44 percent to Rp 22.5 billion last year over 1994.

The company's president, Edward Sumarli, said the disappointing earnings were mainly due to a big loss suffered by Asiana's subsidiary PT Amara Plastic Industries, in which Asiana has a 70 percent stake.

"Therefore, we proposed to divest our shares in the company," Sumarli said.

He said that the shareholders approved the company's divestment plan to sell its Aneka Plastic shares at Rp 3.2 billion, slightly above the purchasing price of Rp 3.1 billion. (alo)