Astra Graphia to pay its '93 dividends

JAKARTA (JP): The shareholders meeting of PT Astra Graphia, a subsidiary of PT Astra International and the main distributor of Xerox office equipment in Indonesia, approved the 1993 dividend payment of Rp 120 per share on June 20, said Inget Sembiring, the company's president.

Inget told a press conference yesterday that around Rp 1.8 billion (US$837,988) will be paid to the holders of Astra Graphia's 15,375,000 shares.

He said the dividends were derived from the company's 1993 after-tax profit of Rp 6 billion ($2.79 million).

The shareholders also approved the company's proposal to add a vice president post to the board of directors, and appointed Setyo Adioetomo, the company's former finance director to the position. Lukito Dewandaya was promoted to replace Setyo as finance director.

The company's after-tax profits rose by 65.4 percent from Rp 3.63 billion ($1.68 million) in 1992 to Rp 6 billion ($2.79 million) last year, while its net revenues increased by 32.7 percent from Rp 150.78 billion ($70.1 million) in 1992 to Rp 200.18 billion ($93.1 million) last year.

Thomas. B. Subijanto, Astra Graphia's computer director, said the increase was influenced by the high demand for computers.

Inget said the company's revenue growth this year would range from 12 percent to 15 percent.

The company's earnings per share also increased from Rp 236 in 1992 to Rp 391 last year.

Setyo acknowledged that the growth of its subsidiaries was below expectations. PT Astra Microtronics Technology, an integrated circuit chip manufacturer, lost Rp. 8.62 billion.

Presently, Astra Graphia is 80 percent owned by Astra International and 20 percent by the investing public. (03)