Bimantara's net profit surges in first 9 months
Bimantara's net profit surges in first 9 months
JAKARTA (JP): The widely diversified Bimantara group reported
a Rp 95.9 billion (US$41.34 million) net profit for the first
nine months of this year, up 18 percent on the same period last
year.
Bimantara vice president Rosano Barack said yesterday 34
percent of the profit came from its media and broadcasting
division.
He said 23 percent of the profit was derived from its
transportation and automotive division, 14 percent from
telecommunications, 8 percent from chemical industries and 21
percent from other industries.
The publicly listed company expects to book a Rp 155 billion
net profit and Rp 890 billion net revenue for the year.
"We're very optimistic that our company's performance next
year will be better than this year," he said. "We always target
to grow at least 10 percent a year."
Rosano said the broadcasting division would still be the
largest contributor to profit next year. But the company, owned
by Bambang Trihatmodjo, President Soeharto's second son, would
improve its performance in other areas, particularly automotives.
Jongkie D. Sugiarto, the president of Citra Mobil Nasional, a
Bimantara automotive subsidiary, said competition was getting
tougher in the automotive market. Bimantara would only produce
middle-class sedans.
"We'll not produce Jeeps because that market is very limited,"
he said.
He said Bimantara was still seeking tax breaks for its Cakra
and Nenggala sedans as had been given to Timor car -- produced by
PT Timor Putra Nasional, controlled by Hutama (Tomy) Mandala
Putra, Bambang's youngest brother.
Jongkie said his company had produced 1,000 Cakra and 1,000
Nenggala sedans. "All have been sold. And our target is to
produce 1,100 units of Cakra and 1,100 units of Nenggala," he
said.
He said his company would produce 2,500 of these cars next
year.
Rosano said Satelindo, a Bimantara telecommunications
subsidiary, would go public in 1998. "We also plan to list our
broadcaster RCTI on the capital market," he said. (bnt)
JAKARTA (JP): The widely diversified Bimantara group reported
a Rp 95.9 billion (US$41.34 million) net profit for the first
nine months of this year, up 18 percent on the same period last
year.
Bimantara vice president Rosano Barack said yesterday 34
percent of the profit came from its media and broadcasting
division.
He said 23 percent of the profit was derived from its
transportation and automotive division, 14 percent from
telecommunications, 8 percent from chemical industries and 21
percent from other industries.
The publicly listed company expects to book a Rp 155 billion
net profit and Rp 890 billion net revenue for the year.
"We're very optimistic that our company's performance next
year will be better than this year," he said. "We always target
to grow at least 10 percent a year."
Rosano said the broadcasting division would still be the
largest contributor to profit next year. But the company, owned
by Bambang Trihatmodjo, President Soeharto's second son, would
improve its performance in other areas, particularly automotives.
Jongkie D. Sugiarto, the president of Citra Mobil Nasional, a
Bimantara automotive subsidiary, said competition was getting
tougher in the automotive market. Bimantara would only produce
middle-class sedans.
"We'll not produce Jeeps because that market is very limited,"
he said.
He said Bimantara was still seeking tax breaks for its Cakra
and Nenggala sedans as had been given to Timor car -- produced by
PT Timor Putra Nasional, controlled by Hutama (Tomy) Mandala
Putra, Bambang's youngest brother.
Jongkie said his company had produced 1,000 Cakra and 1,000
Nenggala sedans. "All have been sold. And our target is to
produce 1,100 units of Cakra and 1,100 units of Nenggala," he
said.
He said his company would produce 2,500 of these cars next
year.
Rosano said Satelindo, a Bimantara telecommunications
subsidiary, would go public in 1998. "We also plan to list our
broadcaster RCTI on the capital market," he said. (bnt)