C-C Amatil has yet to feel RI impact

C-C Amatil has yet to feel RI impact

SYDNEY (Reuters): Coca Cola Amatil Ltd, the Australian-based bottler heavily exposed to Indonesia, said yesterday the economic crisis developing there had yet to affect the group's operations.

"There has been no impact on our organization in terms of any risk to people or property," C-C Amatil corporate affairs spokesman Ian Brown told Reuters, referring to reports of some civil unrest as the effects of a currency collapse were felt.

"Our longer term view is that Indonesian economy is going to recover because the fundamentals of our business are there with a rapidly growing, youthful population," he said.

Indonesia was still seen as one of the group of Southeast Asian economies with a relatively high GDP growth rate, although that may be more subdued over the next year or two, Brown said.

Soft-drink consumption was also less likely to be affected by an economic downturn than low volume, high value consumer goods.

"We tend not to be impacted much by a boom or be affected when you have the opposite of that -- a recession," Brown said.

He said C-C Amatil was monitoring the situation closely.

Indications of sales figures for the group could not be disclosed because annual results were due soon.

C-C Amatil has invested heavily in Indonesia in recent years and now has 10 bottling plants, employs about 9,000 people and has assets of about A$280 million there.

C-C Amatil's shares were down 70 cents at A$10.72 at 11.00 a.m.