Bhuwanatala's profit jump

Bhuwanatala's profit jump

JAKARTA (JP): Publicly listed real estate and property company
PT Bhuwanatala Indah Permai reported Saturday a 789.43 percent
increase in net profit to Rp 4.04 billion (US$1.4 million) in the
first half this year over Rp 450 million in the same period last
year.

The company said its first semester 1997 sales surged 348.35
percent to Rp 38.02 billion from Rp 8.49 billion in the same
period in 1996.

Its operating profit jumped from Rp 3.65 billion in the first
semester of 1996 to Rp 20.18 billion this year.

The company manages hotels, retail properties and office
space.

It owns and manages Plaza Bandung Indah I and II, the biggest
shopping centers in Bandung, West Java.

It also owns Hotel Hyatt Regency Bandung which opened in
August.

The company said that the tight money policy and the fall of
the rupiah against the U.S. dollar would not affect its
activities because its projects were completed. (08)